|
-�.^ . __ '. .,.' .4_:^`,_ - - .. . :- :_ _-_' _.- - _ _---.-.-_.__' _______
<br /> — '.� l_ _ . _�_ "t 4` . . , , - , ' Yi`�,f.'._
<br /> _- ' S_ =° � -f� — _ ' ' - c,____` ._`__—..
<br /> '� ' __ � , < . . - , •
<br /> -"S_; _-_ _ . . , _ . _- . ` . ._ . .. _ , .. �. . . . ` � ._
<br /> =_ ��.. _-_ ` . . ' � . `. � � . ', ` � ' " y' . ` ' - ����'���'� - Z , '`
<br /> � t
<br /> _-�_. .-_.._ __ _. `_ . . .. ._1_�-.��____--_".�_. ..-..."-_"
<br /> . . _ . . --.-. .-_ - '_". . . .-
<br /> . _-- __' .____ ' ' -_ _._.. ..
<br /> _ . i.Fa�reet d ltt�e4�t.i�lee+at i�+itatt CIFfR��ower_s�a f OaY�due _ .����* -— _ - ----
<br /> ��a evide�,,ed6�r tlEe Nate and late ch�rgKS due wtder the Note. •
<br /> 2.'Ma�trtY Ny�terta d Tsxa.Iawr�ce ud Qther�sr��r. Baraucr sh�li inclu�in cacB monthlY RaY� .
<br /> toEetiier with,Ehc principal u�d i�rtst as set fonh in tbe Note�nd aay la[e ctu�rges.an;nc�aitment oi a�ry[a)tvices and
<br /> spxial asaes.sments kvkd ar to bt kvied against the Ptupetty.(b)leasehoid peryments or ground rcats on the Prope�ty.and
<br /> (c}�piemiwac for,insunnce rectuiced bY�B�Pb 4.
<br /> Ech monthly inst �i��� far items.(a).[b)urd(c)sha11 e9up1 one-twelflh of the anmial amounts.as�onably
<br /> 1 �im�cd by I.ender:ptus an amaiuit sufficient to maintain an additional bata�e o€not"mo[e:tAan a�e-sixth of the � '
<br /> esmnaud amounts. 77�e fuli annu�l ainount for exD ium st�aq 6e accumwlated by LerKks within a periad endisg�e
<br /> month.6efate an ium wwla Dxorn�delinquem. l.ender shalt hold tbe amount4 coUccted in trust to pay ite�ns(a),(b1�d
<br /> � (c)befoce tbey becomc delinqucnt �
<br /> If at any time tlte totai of the paymeats l�etd isy l..ender for items Ea).(b)and(c?.together witb tLe fiuure ma[thly
<br />= payrtieats fa such iums pay�bte to Lender pcior w tlye due dates of such itrms.eaccecds by mo�e th�n atie-siiuh the
<br /> -= esnnwoad artwunt of PaYments n9uued topay such items whrn dae,an�if payments on the Notc are cuamt.tha�l.ender
<br /> §f�ll eidier tefund the eucess over aoe=sutti of the esamatcd paYments ar cred�c the excess.n'ver one-siatb of the estitt�ated .
<br /> P�Y�to sub�.xquent Qayments bg Bormwer.at tbe apaon of Boirower. If the totai of the paytnents made by BoROwer - - - -
<br />"i - for eum la),(b):a(c)is msufficieni w pay the item whea due,tTx�►Bomower st�pay to i.ender any afsiix�at necessary to - ,�--.----�---
<br />`'� . m�i�e up tI�c doficiency oa ac befooc thc date the item bec�omes due. —
<br /> ,_. As usod in this Secunty ins�t,"S�etarY"meanc tix Secc�tazy of f�lousing and U�an Devetopment arbis or het
<br /> designee. in any year in wfiich the Lender mast pay a matgage insurance premium to the Se�etarY•each monthlY PaY�t� ��-'
<br /> - s1�11 also include either: (i)an instaliment of the annuat mortgage inswance p�emium ta be paid by Lender to tha ��`-��
<br /> � Socretary. (uj a monthl charge mstead of a matgage insu�pnemium if this Securicy Insuumem�s held by the
<br /> or y ���L
<br />� Sec�stary. F.ach maathly insealLnent of the mongage insurance pn�nium shall be in an amixmt suffic-�eni to acxumulate ihe
<br />" fiill aanual mortgage insur.�tx�e p�emium with Lender aae month pnor w the date tbe full aimuat ma�tSaSe insurdace �:�;.Y-�:�
<br />'_° , pKmium is due to the Secnaacy;or if this Secarity In.strument is held by the Secc�etary.each manthty charge st�all 6e in an :-:r•y
<br /> amouat equal W ane-twelfth o one-half peocent of the outstandin8 P��P�balance due on d�e Note. �='L�-._ _
<br /> � If Borrower tenckrs to Lender the fiil3 paymait of all sums sec�med by this Secariry Instrumen�Bormwer�s accaunt �`=�y�_,_
<br /> e insurance ���}�:
<br /> • shall be credited with the balance remaining for all instaltments for.items(a),(b)and(c)and anY�8 �:
<br /> - p�emium installment that Lendcr has not become obligated to pay to the Seccetary.and Lender shall promptly tefund any ,
<br /> sale af tbe or it�xquisition by Lender.Borrower�s �_-.� _ ---
<br />, :�-', � excess fu�s to Boaower. lmmodiately prior to a forectasure PropenS' —_ ��
<br /> ;,.;: account shat!be cndiud with any balance remaining for alI instaliments for items(a).(b)and(c). �. �,
<br /> �.A �Op p�pyt��is, plt payments wKier patagraphs I and 2 shall6e applled by Lender as foUows:
<br /> � ::�`'; to the mortg�,gei�surnr�c.e premium ta be paid by Lender to tl�e Secretar�«mu to the monthiy charge by the '•;;- •�� ,_
<br /> . a ....t..:_�-
<br /> .•`, , • Secretary instead of tlre mantiily martgage jnsurance prem�um; � ,_`.�°'�'-
<br />_ , ., --���';. : . �I ,w any taxes.special asses.�nents,teasehotd paymentsor ground cen�.�rd fire.tlond and ather baa.ard . .� � `- - .
<br /> �G'� . . insnrance ptemivms,as requite�• . �. .�
<br /> �'� g�,to intenest dt�e under the 1``ote; . � .� �'
<br />, ;;,..;; � "^ s�.
<br /> . ,•�: ? �,to amortizaGon of the principal ofthe Not� , , ' f• i;°�'"''_
<br /> • ;��•a , �,to tate charges due under 1he Note.
<br /> `�.:r�:
<br /> . ���..
<br /> - �� ' ' A. Fir�Flood and Ot1�er Hazud Insurance. Borrower shali insure all improvemenu on ttie Propezty,wbe�r now . .
<br /> , :•'_.� - ��•�'': . in existence ar subseq uently ene�.ted,against any hazards.casualties.and contingenc'ses.i�clu�g fire.for whl�d.ender ;;_,;.:' -
<br /> �'�'� :.' .
<br /> ,, s . � • t requins insurance. This insurance shaiE 6e maintained i�r thc amouats and for the periods that[.e�sder requires. Bo�rower � . :
<br /> .-=�., �_9', T s6a11 also insure a11 improvements on tt�e Properey,whether now in existence or subsequentiy erec�e�.agamst loss by f�aods _.�i=`
<br /> � ��"`-�' ' to the extent required by the Secretary. All insurance shall be carried with companies approved by i.ender. The insurance �.
<br /> �.'f�'�''� hcies and an renewals shall be hetd by Lender and shall include loss payabte ctauses in favar af.and in a form ,,.,: . _;:
<br /> '.,��.f.:.t=:_. . po' y , ...
<br /> • ..,tA,., .. _ �ble to.Lender. •:i;i.:,:,. . :�.��
<br /> -:;; ,� •�;�r , In the event of loss.Boaower shatl give l.ender immediate notice by mail. I.ender may malcc proof of loss if not `�•���� ; '��__--
<br /> �: made promp�.t�by Borrower. Each insur�cce company concemed is hereby authorizecl and direc+te�to make payment for '
<br /> , ,,.,�;�; ''-'�rF such loss d'c�xt�to Lender,instead of w Borrower and to l.ender jainav. All ar any part of the ins�.*ance praceeds may be , � __
<br /> � � �,.t�: •�� '� � 2�plied by Lender,at its option,either(a)ta thc reduction uf the inde6tedness under the Note an�i€tis.Security lnstrumen� _.-;.-
<br /> ' -rQY_��,,--:,1�- ` ff�rst ta any delinquent amounu applied in the arder ia Paragraph 3.and then to prepayment of principal,or(b)to the �
<br /> - c�;^dY��t��^•.~��� • restaration or repau of the damaged property. Any application of the proceeds to the�rrincipal shall nat extend a postpone ' ,.�"�--._
<br /> : .�....-L�~,; -_ .
<br /> � : s��ti, - � tAe due date of the monehty payments which are referred to in Paragraph 2.ar change the amount af sucb payments. Any ;'.;�t;`.�..,._� ;:_-_
<br /> . ., 'f;' excess insurance praceeds over an amount required to pay all ouGstandmg indebtedness under the Note and this Security ,�j..��
<br /> • •�°'" lnstrument shall6e paid to the entity Iegally entitted thereto. , •-'�"-=-
<br /> �� . ''' In the event af foreclo5ure of this Security Instrument or other transfer of title to the Propzity that extinguishes the �-=
<br /> » -J� ..�,:-'..�,.�
<br /> ` `-�. �� indebtedness.all right,title ahd interest of Borrower in and ta insumnce policics in force shalt pasti to the purchaser.
<br /> ;^:; ; g, pccupaecy,Pr+es�vAtion. Maintenance and Protectbn of the Prope�ey:Basrawer's Loae Application; ,���_
<br /> �� ,N J�;;;,.!; Lea,cehotda Borrowet sPiaSl occupy.establish.and usc Ihc Property as Borrawcr'��rin�ap'�1 r�xidente within s�atY days ,:,;�:-;,
<br /> . - .�+,•1�!," after the ezectcaon o f.t his Securi ty Ins trumen t a n d�h a l l c o n t i n u c t o occu p y.tho Pra p e n y as Bas��er's principal res�dence � , � �,�,?�.�.,
<br /> �O�"�y� for at leusrt cs�e year afrer the date of cxcupuncy.unless the Secre�ary dererm�nes this reqwrcmeat�i(1 cause unduc hardship ''�'"�''•'
<br /> L. ._ 'I14:.'Jl�:,:: .., '1:����'.i
<br />- . ": I .4r:. . . .
<br /> ' . for Botrower. or unless�extenuating circumstances exist which are beyon d BarrUwerc mn tro U. B a r r o w e r s h a l l n a t i f y � ,
<br /> • � Lcmders of uny extenuating circumstances. Horrower shall not commie w�.�te or de�troy,damage ar�ubs�antialty chan�e � ,
<br /> , ��. : the Property or�llow the Property to deteriara[e.reasortabte wear and tear cxccptcd. l.ender may m�pect the Property if the
<br /> • • � Property is vacant or abaadoned or the loan is in defaulr. i.ender may take reasonable action to pratect And preserve such t .: .;'.
<br /> � : �t, :,r ��. ��. vacant or a6sr[doned Pro riy. 8orrawer shall alxo be in defattlt ii Borrowcr.during the loan appliCation process.gave . � ;. ,
<br /> . "...'�, . .�:.;;,4: . , .
<br /> .. materiall�r fatse or inaccu�rate infarmuticm or titutements to Lender Inr failcd to provide Lender with any matenal r
<br /> . ' :•�- informauon)in connection wlth the loan evidenced by the Nate.includin�,but nut limited tn.representations conceming f, '
<br /> � � • $orrowcr's oecupancy af the�ruperty as:+principa!�esidence. If thit Security In�trument is an�tea�ehul�l.Borrower shall :
<br />� : . . comply with the proyistnns of thc lease. lf 8orruwcr acyuires fcc�itic tn the Nn�perty.the leasehold and fec title�hall not :
<br /> be rnetged unlcss Lender agrecs to�hc mcrger in writing. � �
<br /> ' 6. Clwr�es to Borrower and Prutectiun of l.ender`s Ri�hty in 1Me Pruperty. Borrowcr shatl pay atl govemmental s :
<br /> or municip;il rharges.�nes and imposi�iunt�hat arc nu1 indudcd in 1�era�raph 2. Harrowcr shall pay these obligatians on s .
<br /> � ' time dlrectly to the cntity which is owed�hc paymrm. If(ailure tn pay wau1d advrr+ely affect Lcndcrti intcre�t in�he :
<br /> � -, .� ' Propetty.upon Lender�requect Burrc�wer.h�p prun�ptly fumitih tn Lendcr recelp�ti evidenemg these payment�. . ;
<br />• :�:��..-?�..0� If Bortawer fails tn matcc the�c payments or thc paymcntt nv{uirr.�by Weragraph Z.��r fuifs tc+perform any �thcr . ; . _ ' '
<br /> � ...�..:.._'� covenants sutd:t�teementr canWined in th�r Srcurity In.trumem.��r then i�a Iegal pr�xceding that may s�gnificantly aifect ;
<br /> ,• _. _ Lender's righis in thc f'roprny(such t�c a pnxccdin�in hankn�pt5y,fur cundcmnatiun or t�enfarce lawc ar teguiali�+ns1. ,
<br /> • •- fhen i.�nder may d�and pt+y whatevcr is nrcc.s:uy tu prntect the v�aluc af�hr f�'��(�c►ty and Lender's•rif;ttis in the Yusperty.
<br /> • � ,' ;;';,'`; inrluding p3yment nf taxes.hazard imurancr:u�d nthcr itemti memi�ned in Y�rragraph 2. ;
<br /> � My amount�d3shursed by Lendct undrs Itiis Para�raph�hall hcrume:ut a�ld�Uvnal debt o:Borrowcr and he�ecured : ,
<br /> ' v� , � by this Securiry lnctrnmen� These:unountc shalt bear�ntcrest fr��m thc date of�iisbunement,at thr Nut�watr,and at the �
<br /> ,_' . , aptioa of Lender.sdall be immediately due:ind payabtc. . :
<br /> • �,�.;;,•�:,.'' 7. (',Qedee�eatiue. The proceeds of:ujy award nr claim for d:images.direct ar wnseyu�ntial,in cannecNnn with any , �
<br /> • • . 77-�'�:;' condemnatlon or othet taicins nf any put of the Propeny.ur for wnveyancr in place of candemnution,are hereby assigned
<br /> . �
<br /> - �_-:..-- -----—___�=-r;" 9su!shalt be pait!io leadet tc+the extcnt af the fu1)gmnunt of th�iiidebtulney�that rem�ins unpaid undcr the Nate aiW this � .
<br /> ' ' Secutity lnsuumpnt. Lender shall upply sarh proceeds to ttte redacdun nf ttie indebtedneys under tti�Nate attd this�Jecarity `-_--°----
<br /> Insttument. tust ta nny delinque�tt atnountz applied in the urder ptovided in Patagr,�ph 3.:md then to prepaytneni of �
<br /> � '. Rrincipal. Any appliraHon of the pmceeds to the principal sh�l!not extend or prntpone the due date uf the mnnthly �
<br /> �
<br /> : ,-. : , . _ _ ' - -
<br /> :- - -...- - '
<br /> _ .__ ... .. � �
<br /> ' ' `- �������aauY�,�
<br /> ; . ':s � . � � .
<br />
|