|
. . � . . . .. . '.'1':✓=` � • _
<br /> _ _�_ ...._i�_t �a.�__.-.--i __�_L__.'__'_._.a..____v�__'�__'_.".__._--_ `v. __' . _�._-_L..._____' '_"" � `i.^ f I '_ ,i � . ___"
<br />�� ��° ��lleJ��+� ar entity .-.. -- � - .�,.l;:,';'•`"_---
<br /> �;
<br /> The FunJ. tihall br held in .ui imtitution whoxe depa+ii. are �n�uR�i hy a fni�rs! a�enc>. m�t*u�t.�nt3lit}. . �
<br /> (iu.iusing t.enc3cr• if l.eneler i��tKh:in inuituti��nl u�in any Fcderal H��me L.��:tn B3nh. l.ender.hall appl} thr Funds tu pa}�the ' t - -_- i �-,_
<br /> E.rrua Item.. Lender may nut ch�rge Borm��er for holdmg and appfym�;thr Fun�i+. annu�ih :u:.ifynng the c>cru�r:k�remt. c�r -,-- . . ��
<br /> venfping the E�crau Item�.unle+.I.endcr pay�BurmH•er intere+t��n the Funal.anJ applrcable law•permit+l.�nd�r to make+uch ' �_
<br /> a chargc. Hmve�•rr. Lxnder n�y� reyuire&�rro«er to pay a one-time�hurgc tiir an �nd�pcndent r�.�l e.tate tax reporting.en�ice L�
<br /> u,td h} Lxnder �n �timnutinn w�ith thi. luan, unle�+ appliwble la« pn,viJe. .nhensi.c. Unic�+� an :�gr��ment i, made or .,,�.
<br /> • appli�able la�c reyuire.incerc�t to he paid.L.ender shall nut bc reyu�red tu pa} BurroKer:m) mtere,t or e:►ming+on the Funds. . , , : �
<br /> � Bomn►rr and Ixnder mac agnx in�vriting. however. �hai intere>t tihall be paid on the Fund.. 1-ender.hall gio�e to BorTnwer.
<br /> ' ��ithout charge. :in:annual accuunting of the Fund�, .howing �vedicti and debit, tu the Fund�:uid the purpo�e fe�r afiich r.�rh , _
<br /> debit tu the Funds«�ati m:ide.Thr Fund,are pledged a�additional Srcurit}(or;dl �uriu��tiurcxi by chi,Serunty Imwment. , . .�
<br /> !f the Fand+held by l.ender excec�i the;unuunt+pecmitt�d tu be hetd bc appLrabte Isw. L.ender.hall account w Bonauer
<br /> fur the rxces�Funds in a�YOrdance with the reyuirement�of applicable iaw lf tiir am��unt of the Fumi.,held by L.ender at any .__ ____ __T_.___._ _--
<br /> time i+not,ufficient tv pay the Escmw• ([ems�ti•hen due. l.ender may x� nntify Burrower in writi►►g.:u►d. ►n such case Borrower .
<br /> sh:sll pay tu Lender the amount n�essary to tinake up the deCiciency. Bum�µer ,hall make up[hr deficirnry in na more than . `—
<br /> t�velve monthly payments,at Lender's+ole discretion. •. -� -
<br /> " Upon payment in full af all xuma secured by this Security instcument. Lender shall promptly refund tv Borrower anY , �-�,.,:
<br /> Funds held by Lcnder.If,under parsgraph'-i. Lender�hall aryuire or scll the Propetty.Lende�. prior to the acqaisitiun or sale -- , .- .• •3;. ;�-�
<br /> uf the Property. +hall apply any Funds held by Lxnder at the time of aryui�ition or,ale a�a rrcxiit againsc the+ums suured hy � • . . _
<br />.. ihis Security Instrunient. . '� .•�'Y '''. .
<br /> �y --,�,.;.-----
<br /> • 3. Appftratiun of PayTnents. Uttle�.appli�ble law provide�otherwise.all payments�eceived py Y n�r undePr parag h�s __r^ . '.
<br /> , I :utd 2 .hall be appiiai: first• a�anY PrePaYment charges due under the M�tc: second,to amounts a able under aragrap . ,sf� —�
<br /> third.[o interese due:fuunh,to principal due:and last,to any late charges due under the I�iate. ` 4 ,��.»z.._ _
<br /> 4.Ch��sges; Lieus. Borrower shall pay all taxes.assessments,charges.fines and imposi[ions attributable to the Property Y---�;�
<br /> - which may attain priority oti�er this Security Instrument, and leasehold payments or ground renu, if any. Borro«er shall pay �_�,�
<br /> . these obligatioas in the manner provided in paragraph 2•or if not paid in that manner.Bormwer shall pay them un[ame direcdy `•°�.*�'`_-�+�-
<br /> to the person owed payment.Borrower shall pmmpily furnish[o Lender all notices of amounts to be paid under this�aragraph• ' ���
<br /> � If Borrower make�these paymenu dirertiy.�ormwer shall prompdy furnish to Lender receipts evidencing the pay�r.e.nt�- �
<br /> ' Borrower shall promptly disdsarge an�tien which has priority over this Security Irutrument ureiess Borrower.!a1 a„°rees�n • ,� ' .`,,�..�::
<br />� • writing to the payment af[he obligauon secured by the lien in a manner acceptable to Lender.(b)cumests in good ffz:�.h tt►e lien _N�,;1.�___ _
<br /> by. or defends against enforcement of the lien in. legal proccedings which in the i�ader's opinion operate tc� �t�event the - • '�"'�!.�':;:...T
<br />' enforcement of the lien:or Ic)secures from.8ie holder of the lien an aamement satisfaU.ory to Lender subordinacie�che lien to � r;;�•��.+•�
<br />�+'� this Security Instrument. If Lender determiaes that anY Part of the Propeny is subject to a lien which may attain priority over •s��_
<br /> _ this Security Instrument. Lender may give Borrower a notice iden4ifying the lien. Borrower shall satisfy the lien or take one or �� ,�
<br /> - more of the actions set ferth above within 10 days of the giving of notice. ``�y'•�`�';.;_' �--
<br /> 5. �d or p�.operty Insurance, Borrower shall keep ihe improverteent� �ow existing or hereafter erected on the - �
<br /> insured a ainst loss by fne. harards included within the term'extended cc�Lerage" and any oth sr harards�e�eri�ods �'�'�� !� ..
<br /> .�? floopds�or flooding gfor which Lender requires insurance.This insurance shall be[�tti�+ained in the amount an p � .,� y�•• '� .•<;� ,
<br /> that Lender requires.The�nsurance camer providing the insurance shall 4ae chosen by Borrower subject to Lender's approval
<br /> -�".`� .,�. �
<br /> which shall not 6e unreasonably withheld. If Borrower fails to maintain coverage described above. L.ender may. at Lertder s .�
<br /> option,obta'rtm coverage to protect Lender"s rights in the Property in accordance with parab'raPh�• ; ,= �;;.y,:�-.�
<br /> All inswance policies ar�d renewals shall be acceptable to Lender and shall include a standard mortgage cluuse. Lender ;.�,,.,,,,:. �.
<br /> , s�all have the right co hold t�is policies and renewals. If Lender requires.Bortower sh�l prompdy Dive to[xnd�r a!1 receipu of :,. .y; • �c'i:.' � '
<br /> :� .:r � t:s,:
<br />�`.��� paid premiums and nnewal r�o�ces.In the event of loss,Borrower shal!give prompt notice to the insurance carr+er and Lender. }�� � - _
<br /> .r Lender may make proot of loss if not made prompdy by Hocco�:er. •_�ii�:'- --
<br /> _;�,;:,.;.�•--=-
<br /> Unless Lender and Borrower othenvise agree in wnnng.insurance proceeds shall be applied co restoration or repair oi tier `: ., .�.�,.,�,
<br /> � p�,nperty damagcai,if the restoration or repair is economirally feasible and I.ender's security is not tessened.If the restoration��: r . t_:..-.
<br /> repair is not economically f�s:ble or Lender's security would be lessened. the insurance prac,eeds shall be applied to the sua�s ry � '. � .x
<br /> �;�:;:�:.: .�,,,�,,;�.-"�
<br /> .� secured by this Securiry Ins2sument, whether or not then due, with any excess F�i�ca Borrower. If Borrower abandons the '��'.,:'r
<br /> �; Property. or daes not ansaer within 30 days a notice from Lender that the insura.:�carrier has offered to settle a claim. then �;.,y�-, ..;�-, =-s-.-
<br /> or to a svms '
<br /> ;��' Lender may caltect the insurance proceeds. Lender may use the procceds to repzir or restore the Praprtry P Y � 'J� _.
<br /> ,�, . secured by tFL� S�urity Instrument,whe�.`�r or n�ot then due.g e 30-da�:p�tadn of b r��oceectset�rincil al�st alle ot extend es -
<br /> Unless G.q�er and Borrower otl;:,rais� a ree in writin , an app P P p �g����
<br /> gostpone the�'Le date of the monthly pe3�nents referred to in paragraphs 1 and 2 or change�he amount of the payments. If ��::,��-.,.�_�.-�.,_
<br /> under parngraph 21 the Pro;:a�ey �s aequi*eai by Lender,Borrower's right to any insurance policies and proceeds resulting from _ _ __
<br /> �� damaDe to the�roperty pnor to che acqu:�.�.u�,�heSl pass to Lc�sder to the extent of the s��m��P�vre�by this S°rs�:ry Instrument _ _ _ _�__
<br /> immediateiy�:r.�:r to the acquisiaon. ��,��gy, � . ` �
<br />�.�,,�i,� 6,pecu�cy,Pr�servatton,Mai.:ta-.�:�.zce and Protedton of the Property;Borrower's Laan Applicatton; _
<br /> Borrower sha1J�xcupy.establish,and us:_�:,s Property as Borrower's principal residence within sir�.r._:days after the e�cecution of �r^-°��•__ ;,-
<br /> ���� this Securit ]nstrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after ����
<br /> ,.. y .. . _
<br /> the date of occupancy.unie�..Lender otherwise agr2es in writing,which consent s!,._'1 not be unreasonably withheld, or unless ___ _
<br />;��, extenuating circumstances e�.�t which are beyond Borrower's control. Sonowe? �.yall not destroy, damage or impair the ,� ���.,�'i.
<br /> Property. allow the Property to deteric-:�.�. or commit waste on the Propeny. Borrower shall be in default if any forfeiture
<br /> action or Qroa��ling, whether civil or:.^�~-inal. is begun that in Le:tdei s good faith judgment could result in forfeiture of dt � :_�:
<br /> Propercy or cti'�,_,--�+ise materially impair i:.e lien created by this Seei:n.e}Instrument or Lender's security interest.Borrower cc�_3 ;�_�-.
<br /> cure such a de:�::lt and reiasrzte,as provided in paragraph 18.by ca::smg the action or proceeding to be dismissed with a ruling _. ,,_,�;._ ;:,,, �
<br /> that. in l.ender's good fv.r_�i determination, precludes forfciture of the Borrower's interest in the Property or other material ����
<br /> � impairment of ct:e tien cr�:ed by this Securiry Instrument or Lender's serurity interest. Barrower shall also be in default if �, " __
<br /> Bonower,dcci.r�the loan application process,gave materially false�r inaccurate information or statements to I.ender(or fai!ed - �.�_,�
<br /> . to pro�ide I.er.•_�r with any material information)in conncct:on ai��riie loan evidenced by the 1�ote. including,but not limitui .' „�:.,,,_,,,a.�,H�;,;.__
<br /> to,representations conceming Borrower's occupancy of the Propen�, :.s a principa]residene�e. If d�is Security lnswmepnet��.a�a ..•.-���.`
<br /> leasehoid. Borrower shall comply with all the prov�sions af the�iease. If Borrower ac uires fee title to the Pro �:e t�
<br /> leasehold and the fee titte st�.�ll not merge unless Lender agrees to the merger in�vriting. •' .�'
<br /> 7,ProYecNon of Le��cff's Rights in the Ptoperty.If Borrower fails to perform the covenants and agreements contained in � t_y�,,,�_
<br /> 1'4.
<br /> this Security 1r�strumen�or there is a le=al praceeding that may significantly affert Lender's rights in.the Property (such as a . _
<br /> proceeding in hsnlcruptcy,probate, for�xm�emnation or forfeiture��r ro enforce laws or regulanons). then ixnder muy do�nd . �
<br /> pay for wh�r��r is necessary to protect tiie Yulue of the Proper.y .�'r.i l-ender's rights in the Propeny. l.ender's actions r,iay �'`:�� '�. f!
<br />� include paying any tums secured by � lien which has prionty over this Security lnstrument. appearing in court, paying _c_-.�.���- . _
<br /> ���
<br /> masvnable attomeys' fees and entering on the Property to make repairs. Although Lender mny take action ur..icr this paragraph ,�;,,,,'�.�;�
<br /> 7,Lender does not have to do so. . . �
<br /> Any amounts disbursed by L.ender under this paragraph 7 shall become xdditional debt of Borrower �cured by this , .
<br /> Security Instrument. Unless Bottower and l.cnder agree to other terms of payment. these amounts thall bear interest from the
<br /> • date of disbursement at the Nute rate and shall be payable. with interest, upon notice from Lender to Bonower reqacsting . . �;
<br /> payment. .. , �
<br /> S. blort�e Insurartce. If I.ender reyuired mortgage insurance as a condition of making the loan secured by this Security
<br /> Imtrument. Bnrrower �hall pay the premwms requireJ to maintain the mortgage in�urance in cffect. lf, fot any reason, the
<br /> mortgage insarance roverage required by Lender lapses or ceases to he in effect.Bottuwer+hall pay �he premiums requireci to �
<br /> � nhtain covera€e substantially eyurvalent to the mortgage insurance pmviousiy in effect.at e cost subtitanuaUy equivalent to the '� _
<br /> ._ ._ • '
<br /> cost to Bomiwer ui'ti�e ui.��t�:age irsurancc prceiousl� 'sn effect, fmm an alternate mortQaQe in�urer approved by Lender. If _.______,.
<br /> ��y�?oi a Porm 3028 9/90 � .� •
<br /> . . , �.�
<br /> . • . j• •-.
<br /> .. .�� _ �. �
<br /> .. .. i.. �� _ . . .. . • , . ., . . , ".
<br /> . . . .. ' .�• . • ..' . . • _ . . . .. _, . . - ' . ... . . . • _ • .
<br />
|