|
. - . .,c. y'` "_ • � . i• � ' ' ' ' . • ., .. . : . ' .} t c. . . . , `r.. '� • . ,_ .
<br />- 'L`J`.___ _' � �.v._..1�..:. __L__.. "�_"`�� t".�.�.�"i
<br /> 'I —��..._._� �.�� ..__ _'_� . ..� .,w . � � �.._.a���_s `�S` �� _
<br /> �?����4:�9 `:��'�`�"�,�'---
<br /> �
<br /> _ >' . _ . ,�5 ..
<br /> The Funds ,hall be held in an intitiw[ion whose deposits are insured by a federsl agency. in.trumenwlit}�, or entity '�. '" � �. ` •,t-�
<br /> i ' (incluJing I.ender.if Ixnder is such an intititutionl or in am• Federal Home Loan Bank. Lender shall appk chr Fund�tv pay the ` . ,. -,�: . __
<br /> Escro�� ltems. Lender mxy nut rharge Borrower for huldin�and applyin�[hr Fund.,annualiv arr.ilyifn�;thr c�cn�w s�tiount,ett ' `'' -
<br />— �•entying thc Facmw[tems, unle+.L.ender pay,&�rmwcr intere,t un the FunJ.and applirable law pirt►nt�Le�nder w make�u�h �'�``^�� � '�-
<br /> a rharge. Huv evrr. Lender m:iy require Borruwrr w pa�•a une-time rh:ugr tbr an mdependeni rcal ��tatr t:sx rcpurtin�; ,ervice , � � _ �
<br />' u+ed b� [.ettdrr in connectiun w�ith thi� lir.ui, unle�+ applicable law� prucides utherwise. Unl�.,s an agreemcnt i. made or . --
<br /> applicabfe law requires intere,t to be p;iid. L.ender.hall not be reyuirc�l tu p:�} Borrower any imer��t or c�ming�un the Funds. ' ' ���
<br /> . Borru«er and l.ender may agree in writing. howe�er. that interest sh:ill be paid on the Fund.. l.ender�h:tll give to Burrower. '' . .`:• �'�;�.
<br /> without chargr, an :utnual aecounun�of the Fund+. shuwinr credib and debits to the Fund+:utd the purpcne For u�hich e:�h ' � � . �°
<br /> . . debit tu the Fund,���a,made. The Funds are pledged as additional security fur all sum,+e�:ured b�thi.Se�urity Imtrument. ' �
<br /> If the Funds held by Lender ezrecd the amount�permitted to be held by applicable law. Lendrr,h:�ll arcuunt tu Burrower ` • ' �. �_
<br /> for the exces�Funds in accordance with the requirements of applicable law•. If the amuum af Ihe Fund+held bv L�nder at 3n}• � ' '�;..
<br /> •� time i.not aufficicnt to pay�the Escrow Items when due,Lender ma} so notify Borro�ver in ariting. :uid. �n,unc�a+e Burrow�er --- -"--�"� �_�-�
<br /> sh�ill pay tu l.ender the amount necessary to mahe up the deficiency. Borrower Shall make up the defirienry in nu more than �?. ,� , „ ` %
<br /> twelve monthly payments.at Lender's sole discretion. �� . ��
<br /> Upon payment in ful! of all sums secured by this Serunty Instrument. Lender +hall prompily rrfund to Bormwer any : --- ;y;�
<br /> - Funds held by Lender. If,under paragraph 21, I.ender shatl acquire or sell the Propeny. Lender,priur to the acyuisitian or sale �•,',:. �,. �' .'�,�.��. - "-
<br />� c�f the Property. shall apply any Funds't�ld by Lender at the time of acquisition or tiale as a cndit agaimt the sum�secvred by „ , � t�
<br /> ,.,;1_:. ._
<br /> thi�Security Instrument. •
<br /> 3.AppliqHon of Payments.Un!e,cc apnlicable law�mvides oth�rwise,all payments recei�ed by Lender under paragraphs _=�'°� • �;
<br /> l and 2 shall be applied: fint. to:u�y p:�zy cnent rlti,-��.,due und�r the Note: second, to amuunts payable under paragraph 2: �----
<br /> ��•-�.-'��--�
<br /> , third. to�nterest due: fourth,co principal due:and!as?.tu any late charges due under the Note. .. �. .{ar,.,—;�.—_
<br /> � 4.Char�es; Liens.Borrower shall pay ail taxea_ �ssessments, charges, fines and impo,itions attributable to the Pn�pen} , �;,�. ` -�.._
<br /> �shich may attain priority uver this Security Instrument, and lrasehoid paymenu or ground renu, if any. Borroa•er �hall pa}• --�-�'�"`-
<br /> the,e obligatiuns in the manner provided in paragraph 3,or if not paid in that manner.Borrower�hall pay them on time direut� �''`'"���
<br /> � to thr penon o���ed payment. Borrower.!t2'�promptly fumish to Lender all notices of arnount.to be paid under thi}paragraph. • �
<br /> •. If Borrower make+these a ments direct!}_ �orrower shali rum tl furnish to Lender recei t+evidencin the a ments. - '��� �''�-
<br /> P Y P P Y P L'- P'Y . : �z�-�-...wo6+:,;--
<br /> Borrower shall pmmpt{} discharge:.�r lier.w•hich hac priority over[his Security Intitrument unle..Born►��er. ta)agrc•e�in ,_,�; �r'*r�r!•°"_- �.
<br /> writing to the payment of th�eFligation�ac�.ued by the lien in a manner acceptable to Lender:(b1 contests in DouJ faith the lien �•,�.. _
<br /> - by. or defends against enfcr.•emeni ef-4--� lien in, legal proceedings which in thc Lender's opinion ��perate to prevent the ��°'r�-""�'�' �-:, :
<br /> enfurcement of the lien; or(c1 sec:ures r>,-r:the holder of the lien an agreement satiyfactory to Lender suborJinating the lien to ,�;�4��'� , �.J.
<br /> . this Security Instrument. If L.ender dete_�.���T�that any part of the Property ix subject to a lien which map attain priority over � _ r`.~ �`��'`�°°�'�"`
<br /> ':y� ��_-::�-_-�--
<br /> this Securit Instrument. Lender ma �e a�rrower a notice identif ing the lien. Borruwcr shall satisf the lien or take one or °" 3''�r •
<br /> Y Y B� Y Y a.• . F.,;:..�...r .
<br /> °�---
<br /> more of the actions set fonh 3bove within 10 day�of t�e giving of notice. �.;�';' r, .,r-. :-.
<br /> _ 5. Ha�ard ar Prope.,�� Insurance. $orroues 4'�a:l keeP the improvements now exi�ting or herea�ter �.ected on the �si�a-in=��:"` "'; ".`?�.°
<br /> v�5�••� ^. �'
<br /> , Property insured against loss by fire. hazards inclu,�'.ed w�thin the term "extended coverage" and any i�ther h:zanis, including ��� s.,,•'•t.:.'.:�—
<br /> �,�.�:.�.�r,',.".r
<br /> floods or flooding. for which Lender requi*es insuranL� Thi,insurar:�-e shall be maineained in the amounts and for the penods ,;�.ss��,;;• } �
<br /> that Lender requires. The insurance carr'ser providim_ �h: incurance.hall be chosen by Borrower tiubject to Lender's appr.�val .� -- " ` �<<�'�`;t' '� '
<br /> Y�{.7,'..'ii�:t���..,:, �-- �
<br /> s which shall not be unrea�uaabl withheld. If Buno�t" Cails to maintain cuvera e described abu�•e. Lender m.a , at Lender's ,'�.'f �9�.•iorr�..':u:•':.�;'�'=
<br /> y � y •,a�!i,��.::.�N:�,:(�•.;L.�.'�;�j�t:
<br /> op ti�n,o b tain co�•erage to�-.>:ec t l.en der',rig ht,in tnr Frupeny in acwr d:u�ce wit h pa�agrap ii 7. ,.
<br />' , All insurance policie� :.�J renewals shall be acceptable tn Lendcr and shall include a standard mortga�e ciause. Lender S'�`-._.�`.6�`'�.:�"
<br /> shall have the right to ho'.:i*_.��policie�and renewak. If Lender requires,E3orrower shall prumpth �ive to Lender all receip.s of ��{ - s'^
<br /> paid premium�and renewai n�tices.In the event of loss.Borrower shall give prompi notice to tn�insurance carrier and Le�der. �`'•r •••��;;'�-` i;'�
<br />�;�,�• L.ender may ma.ke proof of lass if not made pmmpdy by Bcurawer. �';;�:��•` :' '`'._
<br />•�;=� Unlea, Lender anJ B��rrower othenvise agrce in writing, insurance pruceeds shall be applied tu restoratiun�ir rrvair of tite �.•�-'. {•`��:� ��.
<br /> Property damaged. if the restnrutivn or repair i,economicaAy feasible and Lender'c security is not lessened.If tfie restorauon or �. ,,; �' �'•-+^,J��'.=: ;,�"
<br /> repair is not economically feasible or L�:nder's security would be Icssened. the insurance proceeds shall be applied to [he�ums �"-,.�� :1i�•:� i:.y.
<br /> secured by this Security Instrument, whether or not then due.with any excess paid to Borrower. If Bonower abandons the - ':__
<br /> . Property,or does not answer within 3Q days a natice from I.ender that the insurance carrier has offered to settle a claim,then -
<br /> L.ender may collect the insurance praceeds. Lender may use the proceeds to repair or restore the Property or to pay sums -,�fi�
<br /> • . secured by this Security Inswment,whether or not then due. The 30-day periad will begin when the notice is given. •�• -�'.�.,.....�...=-_�
<br /> . . Unless Lender and Borrower othencise agree in writing, any application of procecds to principal �hall not extend or ' �
<br /> postpone the due date :�:�-,: monthly paymentti referred ta in paragraphs 1 and 2 or change the amount of the payments. If •"•'��+6a�
<br /> " � under paragraph 21 tF:?rcperty is acquired by L.rmder. Borrawer's right to any insurance policies and proceeds resulting from -�+-•- :,��
<br /> �• damage to the P:.��erty prior to the acqui�ition shall pass to Lender c�.�'ne extent of the sums securad by this Security Instrument ;�____=- '
<br /> f� �.:' immediately pr::�:o the acyui�ition. �'^'�";'i
<br /> . ��'r 6. (kcupancy.Preservation.!�lair.u.-�*s�-rce and�rotectian of thP Property;Borrower's I.oan Appfication;Leaseholds. ���'-�°"`
<br /> ; ��.,-.�...._,=,,.,_.,..:
<br /> Borrower shall occupy,e<r.�(s'i,h,and use the Propert�. :.s Borrower's principal residence within sixty days after the execution of - --�r-�-•-____
<br />, this Security Instrument.:n!-.ha11 continue to occupy �::Propeny ae Borrower'ti principal residence for at least une year after
<br /> • _ the date of occupancy, ur.::,., Lender othenvise agrees in writing, which eoment shall not be unreasonably withheld, or unless -
<br /> . extenuating circumstances exist which are beyond Bonower's rontrol. Borrower �hall not destray, damage or impair the ��;�
<br /> ;z� Property. allow the Property to deteriorate, or commit watitc on t'r.e Propeny. Borrower shall be in default if any forfeiture '�`•: z--;
<br /> • � action or proceeding. whether civil or criminal. is begun that in Lender's good faith judgment cuuld result in forfeiture of the �' • '� '"'-
<br /> • Property or othenvise ma:�rrally impair thr lien createJ by this Security Instrumcn� �r Lender's security interest. Barrower may �:�, - ���".f�-- ' �
<br /> . cure such a default and re•�.+-ate.ac provided in paragraph IS,by causing the ac7�oa or proceeding ta be dismi�sed with a ruling '�;����:''�'��=?':"'�'�'�
<br /> that, in Lettdcr's good faith dctermination, precludes forfeiturc of the Borrowes's interest in the Property or other material ;�.;�;:�;.:;t,,_%.�--�= �_
<br />;�;. . impairment of the licn created by this Security lnstrument or Lcnd:r'. sccurity interest. Borrower shall also be in default if '�-��i °�.�ii�v-:
<br />`";` Borrower,during the loan application pm.ess,gave muterially(alse or inaccurate infortnatian or,tatemcnts ta Lender(or failed ��
<br /> to provide Lender with any material infortnatian)in connection with the loan evidenced by the Note, including.but noi limited ,���." �d°`�`- -
<br /> �.;.�,;.,,.��T.=:
<br /> to.representations concernina Borrower'.occupanc}•uf the Property ac a princig�l residenee. If this Security Ir►strument is on a �'�� ,., ,�_t�s-s��';,�
<br /> �'.'. •.''•„^
<br /> leaschold. Bonower ,ha;I a�mply ��ith all the pmvi.inns of thc leasc. If Br•rrn.:er acyuireti fec titte ta rt:c Properiy. the •��•� ' • •:�i,;�-::
<br /> � tcaschold ard the fex title�`.:_"?not mer_e unletiy Lend:r agreeti to the mergcr in ar~ ng. ,:::,. _ - -.
<br /> 7.Ptiolaxtion of Ixader's Ri�h3s ue�the PropeMy.lf B�noucr fail,to perform thr covenanl.und agrccmcnts containcd in �}•u.,��4";j;��4':�� -
<br /> this Securi� Instrument, nr therc is a le�al proccedmo that may ���roficantly affect Lender'�r�ht� in the Property(cuch as a r.��qe�"�;Y..� . . -
<br /> � procceding in bankruptcy. probate, for rnndemnation nr forfciwre or tu enfe�rce law.ur regulauum), then[,ender may do and °A�+�-��::{�=:
<br /> pay for whatever is nece�.�ry to protect the value of the Prc�perty and Lender'� righn in thr Property. Lender's actions rr�y •��t'�'1��,,�•.
<br /> � mclude paying any swn. +ec:ured by a lien which ha� priurity over this Securty lnstrument, appearing in mun, paying __ � ,
<br /> . rea�onable attorneys' fees and entering on the Property to makc repair.. Although Ixndrr may ta{,c actiun under thi.paragraph __ ' ''-_
<br /> 7.Iwnder does not have tu do tic�. --
<br /> . :' .1`F.M�:.-a•. �
<br /> Any amounts di.bur�eJ by I.ender under ihu paragraph 7 .hall becume additional Jebt ��( B��rrower �ecured by this �� ;_.�,�:rr„�:,;_� —
<br /> Securiry In,trument. Unle.+ Borc��wer:md l.rnder agrce tu<�ther tcrnn of paymcnt, the�e amount� .h.ill bear mterett from the � . ". • � '
<br /> � clate of di�bur+ement at the Nute rste �nJ +hall be payable. uuh intere.t. upon notice from l.ender to B��rrawer reyue�ting • :
<br /> payment. � _ _
<br /> S.M1tortp,a�e Insurance. lf LenJer requireJ mortguge intiurance a,a condition�i(making the laan serured by thi.Security . ',
<br /> • (nstrument. $ormwer .hall pay the prrmium� reyuirrd tn maintain the mongage inwrance in effect. lf. f�ir any rca.on, the '" �. • �`
<br /> . mortgagc intiursnce cuveragr rcyuire.�l by Ixnder lap+e�nr cwu+ tu he in effut. Bunnwc.* .hadl pay thr pnm�uin,rcywreJ ta � ��''
<br /> ' ubtain rnverage+ubstantially eyuivalent to the numgagr m�urance previoutily in effect, at a cu.t .ubtitanually cyu��•alent to th� . �
<br /> cu�t tei Bnrrower uf the nu�rt�,age �murancr prcvinu.h• in rfF�ct, fram an alternate m��ngazr mwrer approveJ by I,�nder. If � •
<br /> _ ---�--�- -•—.--- _
<br /> . _ -.E _..
<br /> • ".,^.•�, , Form 3028 9r90 ' �.-�-
<br /> , � . i��_.
<br /> . . � � ,-,:.:
<br /> �_ �� , ' �•[`• _""... ,}. _ . .. . . . . .. .. . • . ' V� �.. . - � ' . �_ ' .
<br /> ' . . . . . . • �. • ' •� � . . ' . �. . . .
<br /> , �l . . . . . � .7• ` . � . . . � ' . . •- . . - -' ..
<br /> _. . .. • . __ ' ` _ _ _" . .f•�- . . . . .. ... - . . . . _ ... .�'!'. - .. .
<br />
|