|
_� . ..
<br /> :��a�rr� � . � � - . :r.�,•
<br /> _ ., --.., , ' " '�� �,s r --
<br /> - ..__.—..�------ - - ....--� �- ----.. ...,.. .. _ _ . _ � ,.
<br /> - _.wy1�Ap�ar..•� . . " „ ,. -._, _ r. „,_.. `-.,. --..._..., .: ._._. . . ...— � '�:,- -
<br /> .._.._._.._.._....�._. . +L!i, r n,�
<br /> . .
<br /> ...... _ -. -_ .. _..__.....
<br /> . �..,�..,......__....,.....__ __. - �- �r .
<br /> - ' ri.r-_���`'�r-•--.
<br /> WL�
<br /> " ,� � L�ANNO. 1539215251 — ----_
<br /> .,...'��,���
<br /> � 1.�ayment o9 Princl�al,Ir�ie�E�t and I.�ata Ch�rge. Borrower shall pay when due the princlpal of,and Interest on, " '� '
<br /> � tho daht ovlc9onced by tho Noto and late charges due under tho Note.
<br /> �.P90���Fily G�a�►��aonto of'fa�c�o,In3�ares�co,end Bthor Gi�arfles. Borrower shall Include In each monthly
<br /> , � payrrten4,togetirer with tha principal and Interest as set forth In the Noto and eny In4o char�os,�sum for(a)taxos and
<br /> �� speclal aosesaments levled or to be levled agalnat the Properry,(b)leasehold payments ar ground rents on tho „
<br /> Property,and(c)premluma for InnurAnce required under,Paragraph 4. In any year In whlch the Lender muet pay a
<br /> mortgago Inaurance promlum to the 3ecretary of Housl�ig and Urban Developm�nt("9ecretary"),or in eny year In whlch
<br /> such premlum ws�u�d have been requlred if Lender stlll held the Securlty Inatrument,each monthly payment shall also
<br /> <, Inciude elther:(I)a sum for the annual mortgage Inauran�e���h e aA u�lb�lnstrursnentls held byehe Secrataryrin'�aa " �
<br /> � monthly cijar�e instead of a��artgage In�uranc�pramlu Y ._ . _
<br /> ��v,,[� .�i .aaan►v��ln amount to be determineci by the Secretary• Except for the monthly charge by the Secretary,these ftema _,
<br /> ..�----...r.....�...
<br /> '� 8/8 CQIIBd"tBCfOW I�81118��Hi1u Qrttl dU�lo patt7 tt1 Lender ers c�nata r,o���•�� �����. .-
<br /> , ;..f.+-.F-^� Lender may,at any time,collect and hold amounts tor Escrow Items In an aggregate amount not to exceed the
<br /> . ��� � Oi ma3tlmum amount th�t may be requlred tor Sorrower's escrow account under the Real Estate Settloment Procedures
<br /> Act of 1974, 12 U•S.C.6 2601 ot seq.and implementlnp regulatlons,24 CFR Part 3b00,as they may be amended from .;,S�=V,
<br /> • time to tima("RESPA"),exc:apt that the cushion or reserve permitted by RESPA for unanticipated disbursements or i__:..
<br /> � dlabursemente betore the Borrower'a payments aro avallable In the accoun*.may not be based on amounts due for the
<br /> mortgage Insurance ptemlum. �
<br /> i It the amounta held by Lender for Eecrow Items excsed the amo��nts permitted to be held by RESF'A,Lender shall � ';�'`.�
<br /> deal wlth the excess fur►sis as requlred by RESPA. If the amounts of funds held by Lender at r�ny tlme sre not sufficient --=-.
<br /> r
<br /> ••_.:�.�� to�a•y thd Escrow Items when due,Lender may notify the Borrower and requlre Hnrrower to make up the shortage or -��+_;,_�
<br /> deflclency ae pdTmltted by RESPA. --�' -
<br /> . �.� The Eccrow Funds are pladged�s addtdonal security for all sums secured by this Securlty Instrumant. If Borrower ����r�.�__f-
<br /> " tertdere to�endor the iull yment of all euch aums,Borrower's account shall be credited wlth the balenoe remafning •:,:,•:.,_-_
<br /> ; K - :��T"�T..
<br /> for ail Installment Itema(a�(b),and(c)and any moRgage Insurance premium Irjstailr��ent that Lertder has not becoma �
<br /> � � obllpated to pay to the Secretsry,and Lender shall promptly refund any excess fund�to Borrower. Immedlately prior to �-�:�,__`?'�
<br /> - : � a foreciosure sale of the Property or its acqulsition by Lender,Borrower's account shall be credited with any balance �;:;_
<br /> . • remalning forall Installmente for Items(a), (b),and(c). �.,�,���-
<br /> . � •�� 3.Appllcetton of Pay�flento. All payments under Paragraphs t and 2�hall be applled by Lender as followa: �
<br /> ." FIRST•to the mottgage insurance premium to be pald by l.ender to the Secretary or to the monthly charge by tho � .. _
<br /> Secreta Inatead of the monthly mortgage insurance premlum; �_
<br /> �� ,.� E�QJ�,to any taxes,spectal assessments,loasehold payments or ground rents,and fira,flQOd and other hazard R��
<br /> Insurance premiums,as requlred; e�_
<br /> 1_� , � � IHIRi?,to Interest due underthe Note; _—
<br /> FQURTM,to amortizatlon of the principal of 4he Note;
<br /> . �FTW,to Iate charges due under the Note.
<br /> �4 4.Fire�FIOa1�nd uiner����i i�����:���°. ��FSa�:�r shs!!!s!s!!�e?!!Imnr�vements on the Property,whether
<br /> - � ' ' � nuw In existence or subsequently erected,agalnst any hazards, casualtles,and contingenctes,Including fire,for whion
<br /> ^� � Lender requlres insurance.7his Insurance shall be rnalntalned In the amounts and for tho perlods that Lendar requires. `_. __
<br /> Borrower sha{I also Insure all Im�rovements on the Property,whether now in exlstence or subsequently erected,
<br />="�=�°'.��� ,ti� � agalnst loss by flooda to the extent requlred by the Secretary.Ail insurance shall be carried with companies approved
<br /> ' by Lender.7he insurance pollcies and any renewats shail be held by Lender and shall include loss payabte clauses In
<br /> �^r:�,.;;=���: favar of,and In a form acceptable tu,Lender.
<br />�_p_�,�:.,,,,.�.. In the event of loss,Bo�rower shall gtve Lender immedlate notice by malL Lender may make proof of toss if not
<br /> ='=�;s�ti� made promptly by Borrowor.Esch insurance company concerned Is hereby authorized and dlrected to make payrrtient
<br /> _ �:�-,..�= for such loss direc2ly to Lender,Instead of to Borrawer and to I..ender Iolntiy.All or any pad of the Insurance proceeds
<br />- =:,.}�� may t�e eppl�ec,i by Lender,at fta optlon,elther(a)to the reduction of the Indebiedness under the Note and this Security
<br />�`J,�;:,` ����,�. Instr�ment,flrst to any delinquent amount3 applled In the ordor in Paragraph 3,and then to prepayment of principal,or
<br />- °��"`"'�"''` (b)to the restoratlon or repalr of the damaged properry.Any ap�llcatton of the praceeds to the pr(ncfpal shall not
<br /> :�:..v ::�-
<br />���:J�..�..��..___
<br />��-�-__��� eMend or postpone the due date af the monthly paymenis whlch are referred to in Paragraph 2,or change the amoun
<br /> f�.. -'`*°��+y of such paymerns.Any excess Insurance proceeds over an amount required to pay all outstanding indel�tedness under
<br /> - ",.�'"�.�:,� the Note and thls::ecurity Instrument shail be pakl to the entity legally entitl�d thereto.
<br />~==°�=�-'� In the event of foreclosure of this Security Instrumont or othertransfer Af tftle to the Property that exttngulshes the
<br /> z-..F'`�',�^
<br />-������� ' indebtedrress,all right,title and Interest of Borrower In and to(nsurance pdiclos In forco shall pass 4o tha purchaser.
<br /> �.�..�.; ;t-.
<br />��:,u�s�,,,;;.;. 6.Occupancy�Proserv�tlon,M�Intemnce and Protectlon of the Prcpetty;BoROwer'�Loan Appilcation;
<br /> "' ��` � l.esaahulda. Borrower shail occupy,establlsh,and usethe Property as Borrower's princlpal residence wlthin slxty days
<br /> ��.. .. -
<br /> c,,,:,�'j. . _. _.
<br /> -°..�,-,�? ,:�. : after the execution of thls Security Instrument and shall continue to accupy the Property as Borrower's princtpa �
<br />_--•�rn''^`��-�=' resklence tor at least one year after the date of occup�r�cy,u��iess the 5scretary dctcrmine�thls eequirsment will cause
<br /> � _ -
<br />�. "'�,::::;.`�;� -
<br /> undue hardship tor Borrower,or unless extenuating circumstances exlst which are beyond Borrower's control.Borrower
<br />--;.„;�;� shall notffy lendere of any extenuating clrcumstances.Borrower shali not commft wasta ot destroy,damage or _
<br /> -`'�"� su6stantiaily change the Property or allow the Property to deteriorate,reasonable wear and tear excepted.Lender may
<br />-""`=°""" " Inspect the Property�f the Property ts vacant or abandoned or the loan Is in default.Lender may take reasongble actlon
<br /> -'°{:'"�:��-�� ':, to protect end preserve such vacant or abandoned Proparty.Borrower shall also be In defauit if Borrower,during the —
<br /> � � � � loan a{�pllcatton process,gave materiaily f�alse or Inaccurate Information or statements to Lender(orialled to provide ,_,�
<br /> '" ' Lender wfth any material Informatlon)in connection with the loan evidenced by 4he Note,Including,but not Ilmfted to, __ _____
<br /> � representetfuns concerning Borrower's occupancy of the Property as a principal residence. If this 9ecurity Instrument is __ - _ __
<br /> - •� on a ieasehold,Bonower shall comply with the proviston�04 the lease.If Borrower acquiros iee title to the Properry,the _��_�-^
<br /> �1 leasehdd and tee title shall not be merged unless Lender eflrees to the merger In wrlting. �,,�;�x
<br /> �' �u: e.Ch«rges to Borrower end Protectfo�i of Lender'a Righte In the Property. Borrower shall pay all governmental �►;M....,_.
<br /> in Para ra h 2.Borrowor shall pay these obligations �,f'-=`�',T�-
<br /> , Y �.. or munlclp�I charges,flnes and Impositlons that are n�t Included g p w,��
<br /> � � on time dlrectly to the ent(ty whlch is owed the payment.If tafiure to pay would adversely affect Lender's Interest in the
<br /> _._.-�_ _ :..�,T Property,upon Lender's request Bottower shalt promptly fumish to LQnder recelpts evidencing these payments. �*rs�� -u
<br /> _ ; � If Borrower fails to make ihese payments or the payments required iiy�a�a�raph 2,or:ails Lo p�dorm sny�oiher __ r_--;
<br /> covenants and agreements contatnai in this Sscurity Inctrument,or there is a legal proceeding that may slpr�ifl��y�*;g
<br /> - � __� affect Lender's righte In the Property(such as a proceeding in bankruptcy,for cor,demnatlon or to enforce�aws'br P
<br /> - .....�....�N....vi��o n1 rhn Drnnn�v anrl 1 antlaT'S � - +j��
<br /> - -- '_'----- .. .
<br /> regutatlons),then Lender may ao and paywnaie�►er��►��.ro��y��N��•w.••.�:�.���.�.-.._�_..,_..___ _ - _ .. _..
<br /> � righis In the Property,Including payment of taxes,hazard insurance and other items►ndntloned In Paragraph 2. ,
<br /> ' Any amounts dlsbursed by Lender under thls Paragraph shall become an additlonal debt of Borrower and be
<br /> secureri by thls Securfry Instrument.These amounts shall bea�Intorest from the date of disbursement,at the Note rate,
<br /> •� and at the optlon of Lender,shall be Immediately due and payable. _
<br />- •� ' 7.Condemnetlon. The procseds of any award or claim for damages,direct or consequontial,In connectlon with ,
<br /> • any condemnatian or othar taking of any part of the Property, or for conveyanco In place of condemnatlon,are hereby
<br /> -- a�slgned anci shall be pald to Lendor to the eMent of 4he fuli�mount of the indebtodness that remalns unpafd under the
<br /> ' lVote and thls Security Instrument.Lender shali apply such proceeds to tho reduction of the Indebtedness under the
<br /> Note and thts Security Instrument,first to any delinquent amounts applied tn the ordor provlded In Paragraph 3,and
<br /> , then to prepayment of principal.Any appllcatfon of the proceeds to the principal shal!not extend or postpone the due ,
<br /> - ' ' � FMA NHBRA6XA DEED OF TRUST 6/95
<br /> —t ' � �SC/FMDTNE//0691/(G-95)•L PA(3E�OF4
<br /> I _ _ ------- `•'' _
<br />
|