|
Ir •�(�^riT�YFMQflanl:,1FM� -�•��.�ia_-- •.rv.. -_-_-.'--- -- ---- �- '- --_—
<br /> .. ,.�yn• �{f�i. .���,c= �_
<br /> �a. ��;.� -^ - - . . . • _. -
<br /> �Y���
<br /> -h:�u�„F �J,Jy� � ' _
<br /> ^�''i":. ' � �•'.� � • —
<br /> „ .� ..}::,�:
<br /> :'+� . .._ —
<br /> i - -- —- -- '
<br /> . � � a..n y.r,. __A� ��-� �O�Z^ �.. -.
<br /> �aa�sri:r.s�rs
<br /> °���; ,�4:r�� ���": �
<br /> L.. ._ o�:�.._.,_L_
<br /> '�•• 1, p�yment ol IMaclpal,lnterert And Lote ClwrRe. Borrawer rFwll pay whcn due Ihe p�incipal of,und intercsl on,
<br /> _ �"'�- ;��°-°- the deM ovi�enced by tho Note and late chnrgca due under the Nate. —__
<br /> � ' �',� "- 2. Monthly poyn�enb ot'Itize�,insuraaa and Other Chw�qea. Borrower shull include in cuch monthty puyment,
<br /> . ° �"�'i��" " wgethee wlth the principal And intercst as set forth in the Natc and any latc churges,an ins�aliment of any(u1 wxes nnd �
<br /> '''"'",`••," speci�l assessmenta Icvied or ta be levied agAin9t the Rapeny.(bl lewiehold payment�ar�rouod ren�s on�ho Propeny,and _
<br /> �,x,.`_� � (c)pnmiuma far insurance required by Pivagrnph A. �..� -�-
<br /> �� :,,. ^�•, •� . Each monthly installment for items la). (b) ond (c) shell eyuel ane•twelfth of Ihe anoual umountx, aai rea4onably W
<br /> �• •� ' � estimoted by l.ender, plus an emount xufficiem ta maintuin un addltional balance of not mare thun one•sixth of the �._,
<br /> °^'`'� ��" estirtu�ted amounta. The full annual amount for each item shall be accumulnced by Leruler wi�hiu u periud ending one F �,_
<br /> '^�'i' month before�n item would become delinquent. L.ender ahafl hold the wnounts collected in trurt ta pay items(u>,(b1 and ` -� ��'~°�'�"°
<br /> ��.�.����' ,��
<br /> • (c)6efore they became dClinquent. _
<br /> � �'�'•� If et ony time the total of the paymem4 held by Lcnder far items(u),(b)and(c),tagether with the future monthly -�-
<br /> , '�..'�• payments for such itema payable to Lender p�far to the due dates of such items, exceeda by more thun one-sixlh the
<br /> " estimated amount of inenus rc uired ta Pay such items when due,and if u ymems an the Note sue curtent,then Lender E�=�-�--•
<br /> :� 4 '... . �•.x.,n+.. P f,�',:,_:�..i�4.�ar��:;
<br />- - • �=..
<br /> .�'- ', � shall either refund the eyiccess over one-aixl h of tha estimuted pnymenls ar cre dit ihe excesc aver one-g ia t h o f I he est imul e d
<br /> -.� � e��+wa,.� � puyments to subsequent pnyments by Barrower,ut the option af Borrower. If ihc totul of thc paymentx mad�by orrower � -.--- - ---�----
<br /> for ium(a).(b),or(c)is insuff�cient to pAy the item whcn due,then Borrower shull pay to Lender any umount necessery ta _
<br /> .; ' � make up the deficiency on or before the dute thc item becomes due. _
<br /> ,�-��� . .. . Aa used in this Security Instrument,"Secrelnry"meuns the Secretury of Housing and Urbsm Development or his or her -�••-�---•
<br /> "'"'°�"''`:'`��"-s ' designee. In any year in which the l.ender must pay a martgage insurance prcmium to the Secretnry,ench monthly payment -
<br /> ��� � shall also include either. (i) an ias�aliment of the annuul mong�ge insurunce premium to be pufd by Lender ta the '�''-°`'==
<br />_1a . --—
<br /> ;��:,.,.; ; Secrctery,ar(ii) a monlhly charge insteud of a mortgage insurance premium if lhis Security Instrumem is held by the
<br />- . � Secretary. F.ach monlhly inslallment oP the mongage inaumnce premium shAll be in un umount sufficient ta uccumulate the AY��:' � Dr:
<br /> " � . ° � full Annual mortgagc inaurnnce premium with Lender one month priar ta thc dntc the full s►nnuul mortgage insurance � ,,,,
<br /> ;�•;':� . ;,. . : pnemium is due to 1he Secretary;or if this Security Instrumenl is held by the Secretury,each monthly charge shall be in ru� � �-
<br /> •• . . : amount equal to one-twelfth af one-half percent af ihe outstanding principal 6alance due on thc Note. ��
<br /> � ���'��-'' �� If Borrower tender�to Lender the full puyment of�11 sums secured by this Security Intitrument,Borrower's uccount --.
<br /> �?-���:'�' � shall be credited with Ihe balence remaining for all ins�allments for items (n),(b)and (c) and nny mortgage insurance �'
<br /> � � � � � . premium inslallment that Lender har,not become abligated to pny to the 5ecretury,and Lender shull promptly refund nn� :...�_'�
<br /> �� � excess funds to Borrower. Immediutely prior to a foreclosure sAle of the Property or its acquisition by Lender,Borrowera - —
<br /> ' ' account shall be credited with any bsdance remnining for all instullments for itemQ(u),(b)nnd(c). =_,,'�,;;=:
<br /> °�7r'�'-i��� ' 3. A Ilcntion of Pwyments. All payments under Parngraphs 1 und 2 xhall be Applied by Lender n.c follow4: ,. � .,.,.
<br /> ' � "��"' �to the moRgage insurance premwm to be paid by Lender to the Secretury or to the man�hly churge by the �•;;;
<br /> � • Secretitry instead of the monthly mortgage insurunce premium; -
<br /> :. ;��';,. . SECONp,to any taxes,speciul ussessmenlx,leasehold payments or ground rents,and firc.flood and other hazerd _ _ -�
<br /> '�'' insurance premiums,ax required; ___ ---
<br /> .-? ,.��`: °. �$j�,so iaterest due under the Note: - - _
<br /> . • � ' ' �OU H,to omortizution of the principul of the Note; -- --
<br /> �,to lute churges due under Ihe Note. �
<br /> �� 4. Fire,Flood and Olher Hpzard Insurance. BoRawer shull insure all improvemems on the Property,whether nuw ;,,
<br /> • in existence or subsequenUy erected,against uny hozards,cavuulties,and contingencies,including�re,for which Lender " ''� —
<br /> "''; '" requires insurance. Tt�iti insurunce shall be maintc+ined in the umounts and for the periodx thot Lender requirex. Borrower ��r-�'�'�
<br /> shall also insurc all improvementx on�hc Propeny,whether now in cxis�ence or subsequently erected,against logs by floads _ °n`r"�`
<br /> ta�he extent required by the Secrctury. All insurunce�hull be curried with companies uPpmved by Lender. The insumnce ��=-�
<br /> ` pollcies and any renewals shull be held by l.ender ond shall incluJe los� puyable clauses in f'avor of, and in u fortn r--°��--�-
<br /> ' acceptaWc ta,Lender. !'�}X°"�~�""°'
<br /> � • In�he event of loxs, Burrowcr+hull give LenJcr immcdiute natice by muil. Lender may muke proof of loss if na — «�:.�
<br /> � . made promptly by Borrower. Euch insuruix:e compuny cuncerned is hereby uuthorired and directed to m�lce puyment for ,.,�:�:;.
<br /> " such losa direcUy to Lender,instcud of to Borrower:md to Lcnder joinUy. All or any purt of the insurance proceeds may be •_+h���j�;_.T
<br /> . applied by Lender,at i�s option,either(u)to the reduction of the indebtednesx uncicr ihe Note und thig Secunty Instrument, irY,,,,,��,,��
<br /> � , � .• firat to any delinyuent umounts upplicd in �he ordcr in Puru�;ru�h 3, and �hcn to prepuymcnt of principul, or(b) to the .,.:<�r�n__
<br /> , resrorc�tion rn•repair of thc damuged prapeny. Any npplicution ot the prcx:cedti to th�principul+hnll not extend or poslpone _ ,_._�::�
<br /> „ ' �' the due date of thc monthly puymems whirh ure referreJ to in Purugruph 2,or chungc�hc umuunt of such paymcnts. Any :"'+���;�
<br /> excess insuruncc proc:eedx over an umount required to puy ull outx�anding indebtcdnes.under the Note and this Security `"`'`•w`•'"'"'+;�, .
<br /> , ° .��.-; Instmment shull be puid lo�he entit�Icgally cntilled Ihereto. . _""�'
<br /> ,, � In the cvent of fomclosure ot �his Secunry Instrumem or o�hrr�run�fer of tidr to Ihc Propeny�hut extinguishes thc :�';�;���;�'�
<br /> indebtednes�,uU right,lide ond imrrert of Bonowrr in und�o in.uruncc p��lirics in ti►rcc+h•rll pas�w the purchuser. � .'�
<br /> .• • 5. Occupancy. Preservatiun, MaintenAnce and Protectiun of' the Property: Borrower's 4oan AppNcationt �,,,{;�,;v;� ---
<br /> LeasehoWs. Borrower shull�xcupy.c�tubli+h,unJ u�c lhr Prupeny u� Borrowen principul msidcnre within xixry d�ys '�=_"'
<br /> " � nfter the execution of�hix S��curity Instrumem und.hull continue lo rxcupy the Piropeny nti Borrower�principul residence �'`•'�'`"_�'�-=.
<br /> '. �• for at 1euY1 one year uRer the dute��f�xcupancy,unk�x the Sccrctary delem�ine�ihi.rcyuirement wiU cuu�c undue hurdtihip
<br /> for Borrower, ur unless extenuating circw».tunce, rxix� whirh nr. fxyund BorroH•cr: rumml. BoROwer shull notify ,
<br /> • ' Lenden of uny extenuating cinumsiancc�. Bnrc��wrr shall nut rummit wu�tr��r dc.tn�y.Jatnuge i�r sub�lantiully ch.u�gc � , ��
<br /> Ihc Property or aliow the Pm�xny to detcriorutc,rca�onublc wcur and trar cxrrpted. Lcndcr mt���in.pecc�he Nropeny if thc
<br /> � Property is vuront or ub:uidoned or thc loun is in del'uuU. Lendrr m��y�akr rru+imahle aclii�n tn protect�nd prnurve such
<br /> vucant nr abandoned Property. Bom�wer,hall ul,u Ix in defuult if Nurcuwrr.durin� Ihe luun applicution prcxc�s,gave k.
<br /> ' ` '� materially flil�e or inuccur+nr infurmutian ur �tatcmcnt. a� Lrndrr (ur faileJ U� pruvid� Lender wilh i�ny nwtcnal �
<br /> informmionl in cannecti�m with the luan�videncrd by thr N�nr. inrluJing,hut nol limiled tu,rcprcuntaliom�oncemin� �
<br /> • Bormwer's occupancy of tix PruFx�rly a�i�principal re�idenre. If Ihi,tirrurity In�trumrnl i,un i�Iratiehidd.Burcowcr+hall .
<br /> camply with thc provi�i��m of�hr len+r. If Horto��•cr:�cyu�rt. fCr I�IIr lu Ihi I'r���x h)'.Ihe le:�sehold tmd fcC lille.hnll not ; � '
<br /> , ix merged unle�ti LrnJer u�r�c�lo the mrr�;rr in��ri�in�.
<br /> � 6. Charges to Burrowcr�nd Protrrtiun of Lrndrr'+Ri�hl�in thc Propertc. Burru��cr.hall puy :�Q�avcmnuntal
<br /> or muniripal chargc..tine�und imFx,.itiom tha�arc nuI inrluJrd in Pauagruph �. liorru��er.hall pay thr.r ubliRatiunti un
<br /> time direcdy In the enliry which i�nHrJ thr paymrnt. If I:�ilun io pay ��•uulJ .�Jvrnrly ul'fert Lrnder; intrn�t in �hr ,
<br /> Pmperty,uFx►n LcnJer;rcquc�t Borti�wrr.hall pramplly furni,h tu LrnJrr rrrcip��rvidcncing thr�c pa�•mcnl.,
<br /> .. IF BOfTUWI'f�AII�llt q1�I�C �he.r payntrnh ur thc p:qtnrnh nyuircd hy F':vuEraph 1. ur t:�il. lu �xrFami am• athcr
<br /> � covenum�unJ a�rccrrxm.cuntainrd in thi.Srrurily In+trument.ur ihrrc i.;►Ir�ul pnxcrdin�1h:u may�.ignitir:mdy;�ftect
<br /> . � ...a_L�:..M... :.,�6..0.......N..�.u.•h��. n nnv�vvlinu in h:mlrunlr� t'ur rnndrmn�ui�m ur t�� �•ntiircr I7\�"�O�fl`L'UIUUOIItiI.
<br /> =_—_ �.....u....... ...........� .... _..
<br /> r r , ...__.._ ..,.. --
<br /> then Lendrr muy do und pay��•ha�rvrr i.ncrr•.an�w protrc�thr�alur ul ihr I'ra�xm•and l.cndrr�ri�ht�in the I'ro(+rrt).
<br /> incluJing paymrnt ul'tuxr�.hur,�rd in.urance und u�her i�em.mentiun�J m W,vagraph?.
<br /> Any umount,JirbuncJ by Lcndcr under�hi,P:�ra�.raph.hall Ixrumr;m addiliun:d JrM uF Burru«rr.�r.J Ix .rrurcd
<br /> by Ihis Serurity Inrtrument. 1'hr.r�unuunt,.hall Ix:►r intrn.t Imm thr dutr uf di�hur,rmrnt.at Ihr Ni�te rutr.:md:d Ihe
<br /> optwn�►f I.�ndcr..hull Ix immrJiatcly duc anJ p�yaMc.
<br /> 7. Cundemnatiun. 'i'he pnkrrJ.uf:my a��iuJ or cl:iim li,r dama�;r,.dinrl��r run.eyuenlial.in ronnrrtiun��i�h am
<br /> ° r�mdemnatiun or athrr taAinE uf am•p:�rt of the 1'n�perty,ar lur cam•rvancr in plarr uf rundenmau�,n.urc Iknht.�..i�:ned
<br /> und xhall tx p•riJ ti�Lender ti�1he extrnt uf thr full umuunt uf thr mdrhtrdnr�.thai rcmaw.unp�id unJer�hr N�it.:mJ Ihi.
<br /> - , Security In�trument. Lrndrr,hall apply wrh puk•ecJ.lu Ihe rcdurhun uf Ihe mdeM�dnr.�undrr Ihr N�ar:utd Ihi,Sirunt�
<br /> Instrument. tint to uny Jrlinyurnt amount. apphrd m the ��rJer pru��drJ m P:�raEraph t. .�„�i �n��� ��� rr.ra�mrnt al
<br /> prinrip•rl. Any uppli�utiun uf thr pnxcrJ. tu Ihe pnnripal .hall nul rvlrnJ ur �x�.l�K�nr 1hc dur J,�I� ut thr muitthl�
<br /> ��.ie�•:.•r�p,,r,�,�
<br /> �
<br /> r
<br /> �y ' � -
<br />
|