|
�•� 'MrNNrirux._�r..rS:..L•...th+-, { �����A x - ' �......_.- _s�-� _i:d'"�:- _��� __ _�.
<br /> - ___ ._..___.___ - _.-_
<br /> __ _ -- _ 96�- 1�`�'`��
<br /> ' TOQETHER VdITH �N the ImprovomenU now or here�hee erect�d on the propertY, �d pM���10� �urt�n�ncM. �nd _
<br /> Hxturee now ar here�rier a p+rt ot tha property.N� rePiace+nents and adai[ians el�a1 H1yu La cov�:cd by this Secur!ty inslrumerti,
<br /> All of tho fare{�olnp I�ralc+red to In lhis 3ecu�ity►nat►umemt aa the"Prapetiy.'
<br /> l3CflN(3�'J[:R CQUt�NAN7� th�t �mro�rrer 1� lawtuli�j 6eir.ed At tho astete h�R�y,conveyed and hao tho rlpht tu prant ancl �f '
<br /> r,or;yey t�e F'rope+ly and th�t the PrQperty Is unmcumbernd. excopt lar encumbrancs;s ot rccord. �orro�vcr ��,ci�c,nta nnd rrltl
<br /> ddond qan�►d1Y lh�tN�a to!h� Property aqdnsl�N cl�bns�n�demande, aubJc�t to any encumbrenc+.s of rocord.
<br /> TfIiB 9ECURITY IN37AUMENT comDlnss unNorm covenante for r:aUanxl uw �nd non•unitorm covenonts w8h iimltw�
<br /> v�riaKnns by Judsdlctlon ta r,on�tkuts�unWxm e�curity In�tn.imm�co�aks0�M�PrQP�1Y.
<br /> UNiPORM OOVENAN7S. BortowM wnd L�n�covsrNnt�nd aqre�w�lollowe:
<br /> t. P�ym�n4 a1 Princlpal �red Int���d; P►�paym�nt M�d I.�h Clr�r{���. Bo►towsr shtll promptly pry whsn
<br /> ciuu tli�p:»RC!��!01 cn��nterr.nt on 4he debl evldonced 6y tho Nola a��a�y�preP��we`i�anWr'V��y��°J:�r Oorloer�the�N„in�y c
<br /> 2. Funds�ar T�uc�R and i�eunnc�. SubJ�ct to appWCa
<br /> ta LM�dw on lh� dUy mo��hhf P�Ym��� ue due under th� Nots, untN th�Nots Is p�Id hi fuN, • sum ('Funds")for: (�) YKfi+
<br /> l�xes �nd �easssmer+te which may attaln pHority over thle 3acurtly Insttument aa � Ilen an ihe Property: lb1 Yearty lasshold
<br /> paymenta ot pround r�nta on the Prqparty,It �nY: (el Y�Y h+�d or prop�rty Insur�nce premlums; (d) yeaiiy 11uod li�aurrnoe
<br /> pramluma,H�ny: (!)yea1�+martQaye insurmce premlums,N�ny; �nd (p r��y auma p�yable by Borcowar to Lander In �ccordance
<br /> wfth th� provlsions of p�nS�raph B, In Neu of ths payment o1 morty�9e Ineunnce premiums. Theso Items �re caNed "E�uow
<br /> n��• ��� �y, ot any time, coNact�nd hold Funda in an �mount no4 tb exceed Ihe maucimum amaunt n tender for r
<br /> t��yy rN�t�d morlp�9e lan m�y reqciBe i«Bortuwer'a eacrow Account undar tho tederal Real Estate Setllement Procedures
<br /> sets�� lessa�mounid.�H so, Lender may,at ny tkne,�ect�and hold Funds In a►s�mo nthnotat sxceeJ�th�Hnss�r�mount
<br /> I.endar rrwy estkn�id ihe amount a1 Funch due on the basis of curront data �nd recsonable eetkn�tcs ot exp�nditures ot iuturo
<br /> Es�xow Items or othMwise m�ccordance wilh eppllcable law.
<br /> The Funda ahsN bo held fn�n inatitutlon whoae d�posits a�e inaured by a tederal�fl�naY�instih funds�torp�y h��Eacrow
<br /> Lender. N Lsnd�r ia such an k�stkution) a tn�ny Fedent Home Loan Bmk. Lend�r ahall wPN he�srxow ��count. a vwMyfn9
<br /> Itcwns. Lender nNY not chups Borrowe► la hotding �nd 4+�A�inO.�he Fu�da, �nnu�My Rn�lyzhq � ��� to m�lc� suCh a
<br /> the Eacrow ttsms, unkss Leader pRys BoROwe► interest on tiie Fu�da rsid :.i��.cab._ �"! R�+m�t- --
<br /> �,�. Ho�,eyK, Lender may requke 8arowe�to pay = onalfine charye for en Indopendent real eat�te tax repoHing savicr
<br /> �s�d by Laider fn connecffon wfth thie Ioan, unless oppNcabk I�w provldas othawlae. Unbas �n �9t�tr�t k m�d� �'
<br /> �p�We taw requires Interest to be paid,�end9r�haq not be requkad to pay Bortower�ny fnterest or eMmfngs on 1h�Funds.
<br /> Bortower �nd Land�r rrMy a9ree h wriU�y. howwcr, that intsrost shsq be p�id on thd Fundn. Lender etwR give to Borrower,
<br /> �h� ��� uy N�us1 iccou,nthtg of thra Funde, ehowing credite�nd debNe to th� Funda and th�purpos�lor whlch wch
<br /> d�bit to th�Fundr w�rtwds• lhe Fund��+re Medyed ea�ddlUonal secudry tor aN aums k r�a t 6��t 1°�owe�
<br /> It the Funds held by Lend�e.YCasd the�mounts pernRlted to ba h� N�e°�t of the Punds hefd by I.and«'�t�ny
<br /> for ifi� pccoss Funds in�ocord�ncs with the roqukerr+ents o4�ppMe�bke
<br /> tims ys nnt suMciw�t to pay the Escrow Rema wAen clue� Lender may ao notHy Borrower In wridng��nd�in such c�ae,t�ortow�r
<br /> ah�M paY to Lmdar the�mount esceaa+ry to m�ke up the dNfclency. 8orrower ah�M mdce uP the dellciency in nar�-sr�e th�n
<br /> twaHe mo�tf+�ll PRXn'�^te��t Lender's sob diaa�tbn.
<br /> Upun pqmant in iuM of NI swna swured by thls Securily Instrumen�lender sh�ll prumPtlY rsh+nd to Bortowar�nY Fund�
<br /> hdd by L�nbM'. ii�unaw ps�ag.q,���.,�--s�• :�s�r��c.e M..M thw ProoerN. Linder.Prtor ta the�cqulsitlon ��a:�N ot!he
<br /> prpp�rty, sh�M yiply any Funda held by Le�der at the tlmme of acqulsRion or sale as� aedk ay�4�st tha sums eiKf:�d 1�y tMs
<br /> S�ourlti M�^1OA� ents rsceNsd by Lwtder und«'
<br /> 9. A+lplleathofs Of Pi1yR��nt1. UMess appNceble law provides othervvFS�,:;rR MY^'�
<br /> p�rayraphs 1 and 2 shaN be�pplied: hst. to�nY P���Yment ch�ryrs due e�ndeP tfie,�Note:aeco�d�i�Ytnounts payAWe uncler
<br /> '' p�n9nph 2;thkd,to Intrest due: fouRh,tv princip+�d�e:�nd last,to xry lcit�charg�s;dus und�r the�Vot�.
<br /> 4. CIM�ei Wns. Bortowar sha� pny al! taxes�.aasaasme�5ls.' Chiugeo.•�nes �nd Impo�itiot�s �ttrifM�rtai�M W th�
<br /> prop�ty wMch may�thh P�iakY orer tHs Seauiy Inslnxnent,�nd IsasehoW p�aymprtta w 9round�te.If�ny. Bar►oww sheM
<br /> p�y q��oNNpttlons in Me �zwmer p►orld�d in P�9n�+h 2� or�N not p�i�,in fh�t irw�r►x, 8artow�r shrl p�y th�m un tkn�
<br /> droe1y to the �waon owed p�ym�t. BorrowK shaM ErromplAl fumkh tP�'�endar tumisht to f L�ts��P� evkNndn�t?�is
<br />_ p�nynph. 11 i3ortnwe► m�k�s thet�s P�Yrneats dinclly. Bnrto�M� eMIL igr;ompthl _
<br /> ��er shsM promp►�Y,diacharge eny Nen which 1►�a priority o+rer tiiks SecudtY Instruma►t tu�s 9ort�owK: l+1�qnes in
<br /> wtN4q to the D�Ynwn4 of�►x���bMy�t{on secured by the ilpt� in a m�nnar�capt�ble to L�ndx: (b) contsNs in 9ood Wth the
<br /> et.'�ori M�cen�t of the Met� tn. Isg�l procaed��4��h�lir•Stna Lend�►'a opit�lon opM'ds to pw«►t ih�
<br /> bn bY� �x d.lends �9�tn �
<br /> mtoroem�nt d th�fsn:or'�� �wros hxr�th� hoider ot th.N.n an ��xnont��ati�f�ctory to Lend�r aubordn�tMp�over H►bs.
<br /> i�.,saff� to e Ifen wF�lth may attdn P��Y
<br /> � thl�S�u+rNY inae�nnent.M 1.e,p�.+;dete�'tes that any part ot ihe Prope�'ty� j�
<br /> ' ' g�aKily Mstnimw�t,l�nda r,miy":qFis Cwrrawe��notice id�nWyhy the bsn,JBcmower eh�1 s�tisly the Nn or Wcs aae or nw�+e.vf �:
<br /> ' !h�adloss sat faflh�bove.;withY� 70 d�ye ot th��ll+rh9 01 notic�. . ��,`�
<br /> ItffurstlC�.Borrower¢hd kNp tn�knproremenls now ex�tk►0 or hrrR«'�M?v.�Md ds t�p' + •
<br /> S. H�urd or Pw.bEvvrtY ,
<br /> propaty lns�xed �a t�ts'by Are. h�arda indud�d wlthln th.tam'eraandad cov�' and �ny othK ha�uirdr, M`�oludk+4. .
<br /> toocis tx�oodr►p�1tx wfik.Y7 Lx�da requk�e hauornce. Thks bauante sh�M b�rti�intafr►�d in tt►��mounts and fOr the periods .
<br /> tFwd Landor nquirK. The Inwnnce cnte�r pvovkfng th�Inwrmce sh�N be chosM+bY 8arow�r subj�ct to l.�nder'a�pp��l....
<br /> vrhkh thM not be un�wson�bA► withheld, It 8otrowar hW to m�r►t�ln ooverpe dNC.rlbad �bov�. Und�r msy, at L�cM�'�
<br /> �{on,dytain covenge 4o Iprotect Lend�r's tf�ht�fn tha Propetly In�ceord�nc�witf►Pr��nPh 7. •
<br /> 111 insunnea Pc�e +qnd tenew�N shM be acaQWbls to Landrr r►d ahd inCtuds � st�nd�rd malysQs cisuse. I.�acf�A;�;°;�.
<br /> , ihM haw tl��ioht to h�id th� polici�s�nd rer+ewah. H Le�de►rsquint� Bortuwwr aheM Pro^'�PtiY SI�'e to Und�r all r�pipta ci!.,•�� ..
<br /> p�d phn+�ma�nd r�n�+rrd nodcss. In the ever►t o1 lose,dotrow�r shaA ghte pranpt?iM1ce to th�inwronce c�rtix�nd I.enr�'r: �;,' ..
<br /> Lmd�►m�y m�ke prooi of bsa B�ot rcr3e PrompNy bY Bortow�r. •' '
<br /> lJnksa L.er+dr�nd Bortower otherwise�gree In writlny. hsur+nce�proc�eds shatl l>a appRed to restor�tlon or rep�k ot 1tr�e•:. � �
<br /> prupe�ry drn�getl,If the reston�tion or rePdr Is economicaMfl te�alble and Lenda'3 3dLWf�I3 not Irasened.�f lhe roatcxati�on ci'.
<br /> ���s�wt �ortortAcapy te�slble or lmAer'a securlty ww�Id be keeenad�ths(nsuainci proceeds shaN de apQHed to ths aums '
<br /> ascu�ed by thir S�cwity tnstrummt, whaRAur or not thm due, wilh any excr_a �a'Ftt�to Borrower. N fiarcower ebnndone the
<br /> — �,�y� a doss rtot answer yy}thin 30 days a notiu trom Lender thet ihe Insurinutr�artier has otlered to settle r ci�im. then
<br /> Lende� may coMect the Inaur�nce proceeds. leeder mey use the procsecls to re�ir or rcstore td� Propeity a to p�y auma
<br /> sau„ea by cn�,sew�y insUum�►t,wAdl`ner or not then due. The 30kAg'paioA wNl begln when'.pt:+e�hoiico b 9iven.
<br /> UnNaa Lender �nd Bnr�ower otha►vfse �grce ]n writh9, NY �^F�tbn ot proceeds to t�YNIC�I ahaM not extand c+r.�
<br /> �ostpone th� due dde of the monthy PnYme�ts r�eGwrsd to In p�agraphs 1 and 2 a ctw�ge the vnaxit ot tive p�y+►ia�ts• H
<br /> under p�re9wPh 21 ths Propeity Is acQuired by 6e�sdrr. Barower'a dght to�ny fnwrance polidea�nd proceede�aYSUhkig h�m
<br /> d�ye to the PropatY Wb►to the�cqutsidon srnal paes to Lender to the exteM ot the suma by thla SecurKy Inshument
<br /> frome�teN W�►to th�acqutskbn. — -
<br /> .�_ — +. �..�e.
<br /> — 6. (lacupancy, Pr�s�rvatlon. INatntsnanc� aind �-r�i�=� =�- c„� �•••;•_.::+ r - — ----
<br /> App1le�Ri011: 1-�sMhold�. BOROWGf 6I11N OCqIP}I, essnblsfi,and use thn FYoperty as Borrowa'a pfinc�pnl ros{dence vrrihln
<br /> sqdy chys �hsr the executlon o1 thb Securityr lnstrummt and sh+�ll continue to occupy the Propmty as Bcxsower's prindpu
<br /> res{derece for et least one yeu ntter the deta of oCCUpancy,unless Lender othe�wlse egrces in wrfl(ng, whlch �ton:,ent shaq not
<br /> bs unre�sona�,ty wilhheld. or untess extenuoting�rcumsLnas exist wh�h ero beyond 8orrowe►'s controt. Barower shell not
<br /> de�troy,darrMge or Mr�dr the Property, a9ow the RropMy tu deterk�rete, or conxnit wasto on the Property. @orrower slu�N hd In
<br /> detauit ff any torteituro acti �ot e��Mse nu�t�Yy Impatr he N aea��ted by�ihis�Securily Instrumeant ortLendK'�secutNy htereslk
<br /> qi tateiture a}the Ptoperty
<br /> _ F1316.LM0(3/96) Paga 2 ot 5 �3�'�� �
<br /> 9b12J
<br />
|