|
i .1 ,.�-;.e�av.lr:..r ;•�11�1 F '�:�'1'"Y.. �i{_ h_ Y t * . . .r. PT � y -- :s.,`':'t./ . ..�y._ 3�_S�1aoW'7afLW�,.
<br /> �1 s i . -^r^rT.T.•`:tF '':' � ' 1' 1� . �a � tl�. - � '.:��. �.� �i. -' � ..
<br /> -tr' .•M �AY�. � � �, �Y'�..Y. - '^ ` i - w» � LMYI�M)T►•L'a` .�. _.,._ � _- _
<br /> ' Y rl '��5.'qt .�.��,c w�erM WI'�Y'u�s*n a.,vr�nwn.:M r.r •••_, :��AY7 � ""1 is�--. �-
<br /> � I. __ , :n . M� Jtl9 ' �. �.*h 11W��""XYNit.._.-.?t.n.� . .,,� � ,. _..... �� _ �... .:�� •• • ,�.. - _— _ -.
<br /> � , '.Li�- ��a.YvrArW..a�ai�. j' -. .
<br /> 1
<br /> �I�1 � .�'�.
<br /> :� .
<br /> . .�+�Olf Ylt�� �'�5:" ... . ' __ hY.1•,��''—
<br /> 92 1�267'� - -�`�__-
<br /> �1� 'h ^.s.:
<br /> .. wr�+«��s by eo�►aww. .i�h�opuon ol Qanow�. 11 lh� toW o1 Ih� p�ymmts made by BortowK�or n«n (.), rob or (c) u ..,�.4y;.�''-
<br /> • IncuMd�nt to pay th�N�m wh�n dw,th�n Ba►owr rhaN P�y to L��ny�rauM n�wY lo"Wc��P th�dNid�nay on or
<br /> ' Mlae Ih�d�t�Ih�Nwn Maon�s dw.
<br /> M uNd In thl� S�uulty InsWm�nl, 'S��Wy' n�n� th�S�a�urY o1 Houalnp �nd Urban Oavetopment a hb a hK 1
<br /> � � dKlpme. In�ny yMr in whlch Ih�L�ndK must p�y�maty�p�Inwranc�prNnlum to Ih�S�xeury. Mch momhN P+�Y��� �-:.�,-�,r.__
<br /> ' abo Includ�MthK: m an InstaMant ol Ih��nnwl mort�p�inwma pr�nium ta be p+�ld by lend�r to the SeaMay,a M� ---
<br /> monlhy ch�rp� fn�lNd ol w morty�q� Inwr�na� prMNum N thb S�cwitY In�bumant Is held Uy th� SeeraUy. E*oM monlhy �t'�' :..-,- -a_-__ _
<br /> .. ' In�taWnant o1 th�morty�p�Inwrancs prwnlum sh�A b�In an amount sulAcient to occumul�te tho lull mnuel moAp�g�In�uranc� _
<br /> • pnrtdum wqh Undv om monlh prlot to ih�d�t�th�NA�nnwl mo�t�p�Inwrana prsrdum It du�lo the Se�x�tuy.o►11 Ihb � -- _
<br /> S�cudty In�wm�nt h h�id by the 9eoretuy,e�oh monthly ohup�th�ll ba In lu� �mount pud lo ontfivMllh ol on�h�M P/rc�nt 4 . `'�-r-_��
<br /> bawnp du�on ths Not�. � - '::�
<br /> d the ouUtu�dinp pdndp�l � '� •
<br /> II Boiraw�r tmdu�e to Lendar ths 1uN p�ymant of�N wm�seound by this 3�wdty In�WmenL BoROwer'�account shall be
<br /> aedMed wqh th�bd�nc�rambbtp lor IIN Int1�NmMits(or ft�rtn (�),(b)�nd(o) �nd any morlyad an�ceas lunde to Bort�t •#
<br /> 1hN Londe�has not becane obMptled to p�y to the 8�aehry.�nd Lends►�hall prompfy Y �
<br /> � Immedl�tely prlor to�tondoaure eab oi the Property or Na�cqut�Nion bY L�rsdd+�8o►rawa's aeaount sh�Y b�endil�d wHh�ny . ,
<br /> bNpnea rarwlnit�p la all InstaNmenle lor qems (�). @I ou►d(al• •
<br /> 3. Appllcatlon 0}PaymYnb.Ail paymads unde►puayraphe 1 and 2 ehall be�ppUed by Lender aa topows: ;
<br /> Flrst to the mort�pe laeurance pre�r�lum to be pald by L�ndar to ihe S�creUry or ta the monthly charqe by the Sacratary
<br /> Mstepd ol ihe monthly mortp+iye Msurancs premium; .
<br /> SoCOnd, to my axea, ep�l �ssasmmts, leaahold paymen►s c► Yramd raM�. �^d �. � end othu hmrd
<br /> InRUnmce pramiums,�s roquirod; '
<br /> Thlyd, to Intereat due undar the Note; �
<br /> Foufth, to�mo�udon ot the prtndp+d ot tha NoN; ` �-- .
<br /> � Fifth,to lete eherqea due under the Note. � .*�:� •'°:�
<br /> ` 4. Fir�. Flood and Ottwr Hazard Insurnnce. Borrower aheA inaure aA Nnprovementa on Ihe ProperlY� whalher � �';;�°�y.�r'_
<br /> now b e�letence or aubeequenlry erected, egeinat eny hazerds, casutlUea, and contingenciea, Includinq Ore, far whkh Londer '
<br /> requires Inauranee.Thfs Insurence ahell be rnolnUdned in the amounts and lor ihe pcYloda Ihat Lender requlres. Bortowe►al��ll
<br /> elso insure all improvements on the Property. whether now In e�latence or aubaequently erected,ageinst loss by flooda to the � �; •.-
<br /> • ' edent requked by the Secretery. AN Insuranee shall be certled wflh compenles approved by Lender.The insuranee pol�les and
<br /> eny renewels ahell be held by Lender and ahaA Indude loaa p�yable clwsea in iavor ot,and in�form acceptable to, Lendw. �
<br /> In ihe event ol losa, Borrower shell gNe Lender immedate notfee by maN. Lender mey meke proof ot losa if not made �_'
<br /> promptly by Bonower. Eoch ineurence company concemed la hereby wtharized end directed to make payment lor aueh bss ��
<br /> direetiy to Lender. Instead ot to Bonower and to Lender JoiMly. All a any part ol the insu►ance proceeds mey be eppNed by �_
<br /> lender, al Ils option, either (a) to the reductbn ot ihe Indebtedneas under ihe Note and lhis Secu�ity Instrumeni. fl►st to any '
<br /> delinquent emounte appYed M ihe order In Paraqraph 3,end ihen to prepeyment of pr(ncipW, or(b) to ihe reatorotlon or repek of � '�
<br /> Ihe dem�ged Property. My applieatbn of the proceeds to the prtncipal �hell not extend or posipone the due date ol ihe �j
<br /> monlhly peyrnenis which are referted to In Paragraph 2, or ch�nqe ihe amount of such paymenis• MY exeeaa Inauance �
<br /> � p�ocero�la urar an amaunt requlred io pay atl autslandlnQ Indebtednee+s�meler tha Note and thls Secudty Insirwncnt sh�U be peld
<br /> to ihe enliry IegaOy entilled thereto. �.
<br /> In the event oi toreclosure ot ihla Seeurily Inatrumenl or olher /ranaler ol tllle to the PropeAy ihat exl►nyuiahet the �, �
<br /> Indebtedness,all right, tiqe and(nterest of Bonower in end to Inaurance polides In force shall pass to the purchaser. �
<br /> 5. Occupancy, Presarvation, Maintenance and Protaction of the Propeity; Bwrower's Loan y�, :
<br /> Applieatbn; Laaseholde. 8orrower sheq occupy, establlsh,and use the Property es Bortoweis pdncipal residenee wlihin 1
<br /> sixly days afler the exewUon ol this 3eeurity Inalrument and ehall contlnue to occupy Ihe P►operty es Bortower's principal : ��
<br /> rasidence lor et le�st one year aRer ihe date oi occupaney, unleas the Secretary detem�r►es thia requirement wIA eauae undue .�;�
<br /> � hardahip lor Borrower, or unless extenueling ckcumstencea exlst whkh ere beyond Borrower's conirol. BoROwer shall notlfy � �
<br /> Lenders ol any exle�ualing ckcumstences. Bonower sheM not commit weste or destroy, damage or substantially chango the
<br /> i Property or aAow ihe Praperty to deterlorete. reasonable wear and tear excepted.Lender may inapect ihe Property H the Property
<br /> Is vacanl or abandoned or 1he loan Is In defeull. Lender mey take reasoneble actlon to protect and preserve auch vacant or
<br /> � ebandoned Property. Bortower sheA elao be In defeuh fl Bortower. during the loan appNcalion procesa, 9eve meterially lelse or
<br /> , haccurale hiormallon or stalements to lender (or lailed to provlde Lender wNh any matedel informalbn)In connectbn wlth the
<br /> , loan evidenced by the Note.Including, but not Ilmited to, representailona conceming Bortower's occupancy ol the Property ea e
<br /> � princlpal residence. If this 3ecuriry InsUument is on a leasehdd, 8ortower shell compy wilh ihe provlsiona ol the lease. If
<br /> Bonower acqulres lee INIe to the Property.the leasehold end lee title ahall not be merqed unless Lender egrees to the merqer in
<br /> writing.
<br /> 6. Chargos to Borrower and Protoctton of Lender's Righta in the Property. Bonower shall pay an
<br /> , govemmentel or municlpel cherges. Onea and knpositbna ihat ere aot Ineluded In Poregraph 2. BoROwer shall pey these
<br /> odligetions on time direclly to the entity which Is owed the payment. II lallure to pay would adversely aflect Lender's interest In
<br /> the PropeAy. upon Lender's request BoROwer shatl promptly tumish to Lender recelpts evldencing these peymenis•
<br /> II Bortower lails to make these payments or the peymoata requlred by Paragraph 2,or faNs to perform any olher covenanla
<br /> and agreoments contained in lhis SecurNy Instrument.or there is e legel proceeding that may slgnlRcently aHect Lender'a�lghta in
<br /> tho Property (such as e proceeding In bankruptcy, lor condemnatlan or to en(orce laws or regulalbns), then Lender may do end
<br /> :;, pay whatevar Ia necessery to protect the value ol the Property end Lender's riqhte In the Properly,Includin9 payment ol taxes,
<br /> hata►d insurance and olher item�mentloned in Paragraph 2.
<br /> � Any emounis dlabursed by Lender under ihis Paregreph shall become an edditlonal debt ol Borrower and be secured by
<br /> � Ihfs Secu�ily Insirumenl.These amounts shaN bear interest Irom Ihe date of disbursement, at the Note rate, an�at the optbn of
<br /> Lender,sha�l be Immedlately due and payable.
<br /> 7. Condemnation. The proceeds of any award a claim lor damages. direct or consequential. In connectlon with any
<br /> co�demnatlon or other teking ol any pert of Ihe Properly, or for conveyance in place ot condemnation, ere hereby assigned end .
<br /> shall be peid to Lender to the extent ol Ihe IuM amount ot the fndebtedness that remai�s unpald under the Note ond ihls
<br /> � Security Instrument. Lender shall apply such proceeds to the reduction of the Indebtedness under►he Note and Ihis Security
<br /> Instrument. Ilrst to any dellnquent amounis applled In ihe order provlded in Peragraph 9, and ihen to prepayment ol principal.
<br /> � Any appNcatbn ol the proceeds to the princlpal sheN nol extend or postpone the due dale o1 the moMhly paymenls.whlch are
<br /> referred to in Paragraph 2. or chenge Iho amount of such payments. Any excess proceeds ovcr an amount requlred to pay aA
<br /> � outslunding IndeWedneas under the Note end Ihls Securfty Instrumen�shatl be pald to the entity IegaMy entitled therelo.
<br /> j n e __�`... ..��v.�IM� ...��hn.en<��dhnrl�arl hy fho SecreteN.
<br /> � v. �ir�:. L��. .�.:y:., e.. - -� -
<br /> 9. (iround4 for Acceloration of Dobt.
<br /> (a) Oafault.Londur may. except as limlted by reguletlons Issued by Ihe Secretary In the case ol paymenl delaulls,
<br /> reQulre Immedlale payment In full ol eN sums seCUred by Ihls Security Instrumenl il:
<br /> , (1)Borrower detaults by lalling to pey In lull any monlhly payment required by this Securlry N+strument prior to or on
<br /> the due dete ol Ihe next monthly payment,or
<br /> (H) Borrower de�aults by falling. lor a perlod ol thirty days.to perlorm any other abllgetlons contalned In Ihls Secu�iry
<br /> Instrumenl.
<br /> (b) Sale Wlthout Credit Approval. Lender shall,If pcYmitted by eppllcable law and with Ihe prior approval 01 the
<br /> SeCretary.requke immedlettt payment m lull ol all Ihe sums secured by thls Secunty Inslrument d:
<br /> r�n+�i:':., .� , Paqc 7 01 5
<br /> :� ! � �
<br /> . 1
<br />
|