|
, `� ��0�9� .;�:,�v,��II�.�_ _
<br /> . 9?-� ��;'�`���:.���;:3;��.�:��A
<br /> The �urtds sha11 be held m an in�stituuon whose deposits are insured by a federal agency. inurumentaliry. ar entity �'. "";:�=`:r3=----
<br /> .<•. �.,•,_
<br /> �� (including Len+der. if Lender is such an+nstitutionl or in any Fetieral Home Loan Bank. Lender,halt apply the Funds to pay the ' �.~ < s-�._:-..—
<br /> ` �-��.--'
<br /> Escm« Items. Lender m:iy nut ch:uge Sarrou•er for holding and applying the Funds,annually;uialyzmg the escrow account,or � � n_•r
<br /> '�, , cenfy�ng the Eticrow Item�. unle�Lender pays Borrawer interest on the Funds and applicable!aw�erm�ts Lender to make such �,,•° - � ___
<br /> a char�e. However, Ixnder may reyuire Borrawer to pay a one-time charge for an independent rea!estate ta.t reporting service �" ` •�_'__ �'�-z`�',,;'�
<br /> ased b� L.ender in rnnnxtion tvith this loan. unless applicablc law pmvide:+ othenvise. Unless an agreem.m i, made ur �r-;�;��_
<br /> � , applica��le law reyuire�intemst to be paid. Lender shall nat be required to pay Homn�er any interest or eamings on the Funds• . ; '' s"�. ' ,�,��_
<br /> - Borrowct and Lender may agree in w�nUng, however.[hat interest shall be paid an the Funds. l.ender shall give to Borrawer. _ . ___ ��3..�r,
<br /> . without charge. �n annual acrnunting of th� Funds. showing credits�tnd debits to the Funds and the purpose for which esch. � ';°;::--� _
<br /> ...; .a:-�.,,:��u'�—
<br /> , debit tu the Funds was made.The Funds are pledged a�additional security for all�um�+ecumd by this Serurity Inswment. `„���,��-�.�
<br /> If thc Funds held by Lender exceed the amounts permitted to be held by applicabte law.l.rnder�hall arcount to Borrower _f :�_
<br /> for the excess Funds in aceordance wich che requirement:of applicabte law. If the:smuum uf the Funds hetd by lxnder at any - - :�,�
<br /> < time i�noi sufficient to pay the Escrow Items when due. L.ender may+u natify Borroaer in writing. and.in+uch case Borrower `,�• °� , . , . �
<br />� - �h:i11 pay to Lertder the amuunt n��sary to mske up the deficiency. Burro�aer ,hall make up the deficiency in no more than _ ____ .�.,��„,v_____�,
<br /> - nveiv�manthiy paymenti.ae[xnder'�sole discretian. -����-
<br /> � Upon payment in fuU of all �ums �ecured by this Securit}• Instrument, Lender +hall promptly refund to Bormw•er any " '
<br />� ' Futtdti held by Lender. If,under paragraph 21.Lender shall acqwre or sell the Propeny. l.ender, prior ti�the acyuisitiun or sale i
<br /> ' b•Lendcr at the time of ac uisition or,ale a.a creciit against the�umc secvred by ��s�`-�� _ --
<br /> ,held �" -------_--_
<br /> uf the t'ropcny,shall apply any Fund y 9 `` `
<br /> this Security Instrument. -.._--"d" ' --
<br />. 3.Appliqteo�e o!Paymettts-Unletti applicable!aw provide�utherwi�e,all payment,ruei�c,�i by Lender under paragr.�phs —_____`
<br /> I an,l 2,[inli!n applie3: first. [o an}• prcpaymcat cttar=ea c3ue under the Note: sernnd, to amnunt,payable under paragrsph 2: �1�, _ _,;w.r-- -_
<br /> • third,to interest dae;fourih.to principal due:and last.[o any late charges due under the Note. �'��• s�-�`==
<br /> 4.Charges;S.sens•Borrower shall pay all taxes.assessments,charges. fines and impositions attributable to the Property — � �� `
<br /> which m:►y attain priority over chis Security Instrument, and leasehold payments or ground rents, if any. Borro�ver shall pay �j �� ;�_.._
<br /> the�e obligations in the manner pro�•ided in paragraph 2,or if not paid in that manner.Borrower shall pay them on time directly
<br /> to the pe�on owed payment.Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. _,�, .-_ -_
<br /> � If Borrower mak�s these payments directly.Borrower shall promptly furnish to Lender receipts evidencing the paymena. .-�_- _.-�.� -�-
<br /> Borrower shall promptly discharge any lien which has priority over this Securit}•[nstrument unless Bormwer. �al agrc�ti m - - �`•�.�:---
<br /> writing to the payment of the a6ligation secured by the lien in a manner acceptable to Lender;(b)contestti in good faith the lien _ ; '�
<br /> ' by. or defends agaiast enforcement of the lien in, legal proceedings which in the Lender's opinian operate to prevent the .= . .:-` '•.------� _
<br /> __',_ enforcement of the lien;ot(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to � '"'� ��
<br /> , [his Security Instrument.If Lender determines that any part of the Praperty is subject to a lien which rrwy attain priority over �����'��`�� --
<br /> this Security Instrument,L en der may give Borrowe r a n o t i c e i d e n t i f y i n g t h e l i e n. $o i r o w e r s h a l l s a t i s f y t h e l i e n or take one or ���L�r-
<br /> ' more of the adions set forth above within 10 days of the giving of notice. 3"-� __
<br /> 5. Hazard or Property Insaraace. Borrower shall keep the improvement5 now existing or hereafter erec►ed on the �' .`-.���.._
<br /> � Propeng insured against loss by fire, hazards included within the term "extended coverage" arr��.�y other hazards, includiyg ,r� �-.�.,._.; i�
<br /> � � floods or tlooding. for which Lertder requires insurance. This insurance shall be maintained in fie�.-nounts and for the peri�s . j __�
<br /> that Lender requires.The in�urance camer providing tli,�insurance�hall be chosen by Borrower subject to Lender's approval : :�; �,�.
<br /> which shall not 6e unreasonably withheld. If Borrower''ails to maintain coverage d�cribed'above. Lert�er tnay. at Lender's +` � , '.•; t;,s,.:, •, '•.-
<br /> : �_�,,.,,.;,�.....
<br /> . ' option,obtain coverage t�protect Lender's rights in tlte�`Y.-operty in accordance wnh a:.-�graph 7. -•,� _. ';'��_
<br /> All ins�uance policies and renewals shall be acceptable to Lender and shall ir:c:ude a standasd mortgage.�ause. Lendes �
<br /> � shall have�h����t to hold the policies and renewals.If Lender requires.Borrower shall promptly give to Lender all receipts ef ,'.:� �'��. '_
<br /> paid premieu�s�d renewal nolices. In the event of lass.Borrower�h���ve promFt ttotice to the msurance carrier and Lett:.ta-. _'II_.,'.:.- :.
<br /> L.ender may�:s�proof of loss if not made promptly by Eorrower. `�"�" "` ';.'.
<br /> ' Unless Lender and Barniwer otherwise agree in wndng,insurance praceeds shs:!be applied to restoration or repair of the ;.���� �~'��•,;� .,;' �•��a;-
<br /> . properry dam�ed.if the restoratian or repair is economica!!y feacible and Lender'ti security is nat iessened.If the restohttion or ;�;�;..,�
<br /> repair is no<<�c.^.nomically feasible or Lem.;ei s security would be lessened. the imurance proceeds ahall be applied to the sums - -k.. , , ,y,
<br /> � secured by Q�:s Security Instrumept, whetJ.i,c:or nat then due, with any excess paid to Borrowti�r. If Borrawer abandons tt�e - _ � ��;t';_.� . , '=:'
<br /> Propeny, or does not answer within 30�::as a notice fr�m Lender that the insurance c�rrier h�s offered to settle a claim. then ,�'f�'�y--`"+`
<br /> .��.�..
<br /> . Leuder may collect the insurance proceeds. Lender mz�. use the proceeds to repair or restore the Property or to pay sums ,�_ �,--
<br /> • s�-ed by this Security Instrument,whether or not ther��a.7'he 30-�iay pesiod�vill begin when the notice is given. ..r:aa'� T
<br /> Unless Lender and Barrower otherwise agree in writing, any application oi proceeds to principal shall not extend or � �,i
<br /> , . poscpone the dle date of the monthly paymenu refer�ed to in paragraphs 1 and 2 or change the amount of the payments. [f �' -- --;,
<br /> �� � under paraFr�:L-.21 the Property is acquired by Lender. Borrower's-�sht to any insurance policies and proceeds resulting fmm �."�, •_,
<br /> � damage m��r�I"rrapert}+prior to the acqu�s�uan shall pass to Lender w il±e extent of the aums secured by this Securiry Instrumen! .. ��_,�
<br /> '�� � immediateiy prior to the acq,uisition. �• .. . ., -
<br /> 6.Occupaacy,Pireservailon,Maintenance and Fansection of ttie Property;L'o�rro�ver's Loan Applfcation;LeaSeholds. • .
<br /> o ,
<br /> - Csorroaer shz'.l occupy.establish,and use the Property as Borrower's�rincipal res:.�,�x within sixty days after the execution of � �' ,£"�::.°_. -:- �
<br /> this Securit}� f��trument and shal!contir_�c�to occupy the Properiy a�L•3orrower's principal residenee far at least one year after - ��,��.�.�_ ."'��'
<br /> , lis��'ate����:�::pancy. unlesti Lender aLa:ra�ise agrers in writing, r�;:,c h con�e n t s h a l l n o t b e urrreasonabl y withheld,or unless �-. ,.;r,E��:;�•• r '
<br /> � xist which a:e be ond Borrower's control. BoROwer chall not d.suoy, damage or impair the _ � ��' -r -i>°-:�'
<br /> �.te:.uat::a c::cumstances e y �: ,. _
<br /> i?nr�erty, allow the Propcny to deteriarate, or commet waste on the Property. Borrower shall be in default �f any forfeiture
<br /> s�a�on or proceeding, whether civil or criminal,is begun that in Lender'�good faith judgment could result in t'orfeiture of the _
<br /> Property or othenvise materially impair the lien rreated by this Security Instrument or Lender's security interest. Bortower may ��_:���w*_� -„�
<br /> • cure such s default and reinstate,av pravided in paragraph I S, by causing the action ur proceeding to be dismisced with a ruling • . . ._.
<br /> . that, in Lenria�s goad faith determination, precludes forfeiture of the Borrower'S interest in the Property or other maten::�' `.-��t;G�ars�.*'.
<br /> impairment�z4.he lien created by this Security Instrument or Lender'. tiea:urity interest. Borrawer shall also be in default �1 , -_
<br /> "� Borrower.d;:sing�he loan�plication process,gave materially false or inaccurate infarmation or statements to Lender(or fas!:.a _,,....� i�=..
<br /> � to provide LQrder with;��y materiat infurmatii�nl in connection with the loan evidenced by the Note.including, but nnt limited _ •' .'-_
<br /> to,representati�zs concerrung Borrower'.occupancy of the Property a�a princ�pal residence. )f this Security lnstrument is on a
<br /> e -
<br /> leasehold. B�ucrower shall comply with sll the proviswns uf the l;dse. If Borrower acyuite5 fee title to the Property, the ��°--°°��__�°-
<br /> leasehold a►u�the fec tiQe shall nat merge��nle�s l.ender agrees tn tlte:�arger in writing. ��'�.`,�
<br /> -----!�����.:-.-.-.
<br /> 7.Proiectton of Lender's Rlg,hts i��the Propertv.If Borro�«.f�ils to perform the covenai�!s and agreements wntained in �..'�
<br /> this Securiry Instrument, or there is a legal proceeding chat may sig^�cantly affoct Lender's rights in the Property (such as a ,�_�,,_��_-_,, , '_'"'
<br /> ' . proceeding in banktuptcy.probate, for condemnatian nr Furfeimre or to enforce laws ur regulationti).then Ler:der may do and ;
<br /> pay for whatever is necessary to protect ihe value of d:e Propertp and Lender's rights in the Property. L.ender's actions may �'`'" �%=t,��,•�'�"-`
<br /> -�,:..��.-
<br /> ' ' include payin� any sumy +ecured by a lien which has prinrity u��er this Security Instrument, appearing in covri. paying ;,• —
<br /> reason;ible attomey� fces and cntering on the Property to make rer•ir.rs. Although Lc;nder may take action under this para�r.i,�h ��,tilt�'' "'
<br /> 7,l.ender does not have to du so. ' •`'`•�`
<br /> Any amounts JisbuneJ by Lender under th�� paragraph 7 5hell hecame additiunal dcbl uf Borrower sccurc�l by this i_�„���,�•,�
<br />' ''' � Secunty lattrument. Unless Bnrro�ver and Lende� agree to other terms of payment, these amounts>hall hr..ir interest frum the Y_ . .
<br /> �• ' date of disborsement at the Vnte rate and �hall he payable. ��ith intcrc�t, upon nutice from [�ndcr to &�rruwer reyuesting -,w:i:�=����
<br /> payment. .,:`._,,,..r r,�::�,:�-- '—
<br /> 8, �1lortga�e Insuranre.If Lender reyuired mongage imurance ati a wnJition uf mal.mg the Ivan,ecureJ by thi.Serurity .
<br /> Imtrument. Borrotvcr tihull pay the premium� rcyuired to maintaro the mongage in.urance in eFfcct. lf, li►r any r�+,un. �he � �•� :•-;�.�,= �
<br /> -����;;��_._-r:
<br /> ntorigage imurance ro�erage reyuireJ by t-ender lap�e�ur cea,e.r to be in effect. Burrower tihall pey the premiumti reyuireJ w s: .,*-�.
<br /> �' , ohtain coverage +ub�wntidlly eyuivalent t��the murtgage insurance previnusly in effect. �t a co.t .ubst;uivally eyuivalent to the . . .. _
<br /> cotit U� Burr�iwer uf the murt�ge inwrencc previ��usly in effrrt. from an alternaic nwregage m.urer appmveJ hy Ixnder If . ' -:�3�'�•�`;
<br /> ,, .. ��"
<br /> . ..- .. ��
<br /> '' • Form 3028 9l90 � ���� �
<br /> � . , �,�.;..�a . � ••.•.- � -.
<br /> . t. ... ,, • i �.
<br /> � . S
<br /> .. ' . —..---....._._ � ,. .
<br /> __ . .. ... , . i . : . .: , �� , .. . .
<br /> - , • • . . . , . . . .
<br /> . , . . , , .
<br /> . . � . .
<br /> .
<br />- � � .. . .I . .. _ .. _ � ,�1' • ' � : ti, �,. � � .. . .( ' � • ` • �_� • � - � .� .� .
<br /> r. . 14 . .�. ... ' . , ' • '
<br /> ' ._. � �. ' .. • � . . ..i - .. . .. a. .. �!� . . . . ' . � �... . . . . t .. - ' . ' . . , .. . .. ' . ., ..
<br />
|