|
� ;���;;�;�> .
<br /> ,� . :-.�;,;,,��;�,.,.
<br /> � 11�1:.' .. . . •' .. ±�� � ' 4•T...� .
<br /> , .M „'�'��'�'M�{!!�: . .- ... - . . . ' . .. _.. � _��,;;��a_
<br /> �.k`.'
<br /> 'r`i�—_
<br /> f '•\�y.'L-.:_�
<br /> �<.:r-.:,�_��_--
<br /> Burcower's eacrow sccount under the fedeni Rael EBWte Settiement Procedures Act of 1974 as amended from tkne to time, 12 U.S.C. �, � _�._.�_.__
<br /> 260t et seq. ("RESPA"), unless enother law ihat eppues to the Funds set� a lesser amounl. If bo, Lendor may,at any time,collect and , .�'y,�
<br /> hold Funds in an amount not to exceed the lesser amounL Lender mey estimate the emount at tunds due on the bnsis of current data ,,;�..'
<br /> and reasonable estimates ol expendRures o�future EsCrqw Itams Or otherwise In aCCO�dance wAh appliceble Iaw. ^__
<br /> � I The Funds shall be held In an instdutlon whose deposits are Insured by a tederal agency, Instrumentelfty, or entity (hcludlnq �,M_�'-
<br /> 1 Lender, if Lendor IS such an InsdtuUon) or h eny Federal Home Loan Bank. Lender shaY apply the Funds to pay the Escrow Itoms. I:s�;µ_
<br /> Lender may not oharqe Borrower for holdYp and applyinq the funds,annually analy:ing the escrow account, or verilying the Escrow ' ��t_
<br /> � � 1 Itoms,unless Lender pays Borrower Interesl on lhe Funds and epplk;able law permits Lender to mske such a charye. However, Lender :.;rs�`_�-`R`
<br /> � ; 1 may require Borrower to pay a ono•tlmo ch3rqe for an Independent real estflte tex repoRing service used by Lender in conneCtion with -
<br /> � thfs ban,unless applbabie law provldas dhervrise. Unless an epreement Is made or applkabM law requkes Interest to be pa�d, Lender t�J y;�_:__
<br /> 'tC.-
<br /> ,..}+� . shall nol be required to pay Borrower any Interest or eamhps on the Funds. Bonower and Lender may agree In writfnp, however,th Q ��� ���_�
<br /> *+• Interest shflll be pald on lhe Funds. Lender shaN pNe to Bonower, wfthout charye, an annual accountinq of the �unds, showln :�;�;¢?;!°,�;:_..
<br /> , , � �=�:----
<br /> ` credNs and debks to the Funds and the purpose for wh�h each debit to the Funds was made. The Funds are pledged as addRional � :_�
<br /> security tor all sums secured by thls SeCUrAy Instrument. "�=°-
<br /> .:� :_�.
<br /> u the Funds held by Le�der excoed the amounts permitted to be held by appi�cable lew,�e^der shall account to Borrower for the M .1�:_ _ _
<br /> excess Funds In accordance wRh the requkements of applfCable law• It the amount of ihe Funds heid by Lender at any 14ne Is not ^___
<br /> • suBlClent to pay the Escrow Items when due, Lender mfly so notlfy Borcower In writinq, and, in such case 8orrower shall pay to Lender Q "4,;:_-
<br /> �� the amount necessary to make up the deficiency. Borrower Shali make up the defbienoy h no more than tweMe monthty payments, at � �::��J• —
<br /> � Lender's soie dlscretlon. .r;;;-� ,
<br /> # Upon payment In full ot an suma secured by thls Securlcy Instrument, Lender shail promp1y relund to Borrower any Funds held by � .Y_�u
<br /> Lender. If, under paragreph 21, Lender shail ecquire or sell the Property, Lender, prbr to the aoqufsition or sale of the Property,shaN ,�y'�._{,
<br /> 2 ;,�N:�,��_
<br /> . . apply any Funds held by Lender at the time ot acqulsitlon or sala as a crodR agaMet the sums secured by thls Securtty Instrument.
<br /> i 3. Appltcation of Peymenta. Unless 8ppliCBbls 18w provldes otherwlse,sll payments reCeNed by Lender under paragr&phs
<br /> •:Yr_F��=..-
<br /> t and 2 shali be applied: flrst,to any prepayment charpes due under the Note; second,to amounts payable under paragraph ?; thkd
<br /> � to inlerest due;fourih,to principal due; and last,to any late cherqes due under the Note.
<br /> ` , 4. Charges; Ltena. Borrower shall pay all taxes, assessments, charges, flnes and Imposftions attributabie to the Property
<br /> which mey attain prbrity over this SeCUriy In6trument, end leasehold payments or ground�ents, if any. Borrower sha�l pay these _
<br /> �' ,.�; oblipatfons in the manner provided in parapraph 2,or if not pald In that menner,Bortower ShoO pay them on tkne d�rectly to the person --
<br /> owed payment. Borrower shall promptly Nmish to Lender ell notbss ot amounts to be paid under this paragraph. If Borrower makes ��:"
<br /> • these p8yments dkectiy, Borrower Shall prompty furnish to Lendat recelpts evidenolnq the payments. ��;'=_
<br /> � 8orrower shall promptly discharge any Iien whbh has prlority ovor thls SeCUrfty Instrumenl unless Bortower. (a)agreea In wrRing to __
<br /> ' �" the payment of the obligatbn secured by the I�n in a manner acceptable to Lender, (b)contosts h pood feith the Ilen by, or defends
<br />-.-- . _-
<br /> ` ;, 8gaost enforcamnni of ir�a I�r�:,:sa�! p,cc�Jhgs rrhHh ��the Lander's ophbn operate to prevent the enforcement cf the Ilen;or (c _
<br /> � socures hom the holder of the Ifen an agreement satlsfaCtory to Lender subordlnating the Yen to this Securky Instrument. If Lender
<br /> determines that any part of the Property Is SubJect to a Iien whbh mey attain priority over Ihis SecurRy Instrument, Lender mav gNe
<br /> ; Bonower n notfce IdentHying the Iien. Barower shall satlsfy the Ilen or tako one or more of ihe actions set torth above wfthin 10 days
<br /> � of Ihe gNhg of notice.
<br /> Q 6. Hezard or Property Inau�ence. Bonower shall keep the improvemenis now existing or hereatter ereoted on the
<br /> '� Property Insured ageinst Ioss by fre, harards hcluded withln the term "exlended coverage" end any olher he�rds, Includinp flqods or
<br /> �'- floodhg, for wh�h Lender requires Insurence. Thls hsurance shall be maintalned in ihe amounts and tor the perlods that Lender
<br /> requPe5. The insurance carcier provWing the insurance shall be ohosen by Borrower subjeGl to Lentlers approval whiCh 5hall not be
<br /> ,�, unreasonably withheld. If Borrower tails lo mnintain coverage described above,Lender may, et Lender's optlon, obtatn coverage to
<br /> protect Lenders rights Mi the Property in ecoordance with paragraph 7.
<br /> �` All Insurence pollcies and renewals shali be acceplabie to Lender and shall Incfude a stendard mortyape Clause. Lender Sheli have
<br /> �' the rpht to hold the pol�ies and renewels. If Lender requkes, Borrower shall promptry 9ke to Lentler all reCelpts of paid premfums
<br /> � �� and renewai not�es. In the event of loss, BoROwer shall give prompt notfce to the Insurence carcier and Lender. Lender may make
<br /> � proof of losS u not made promptly by Barower. ��
<br /> � Unless Lender and Borrower otherwise agree h writing, insuranCe prxeeds shail be applied to restoratlon or repalr of the Property ` —
<br /> � dameged, it the restoratfon or repa'v is econom�eMy feasfbb and Lender's seCUriry Is not lessened. If the r85torstbn or rep8k IS not
<br /> � �I economfcally feasib�e or Lender's socuriry would be lessenetl, the fnsurance proceeds shal be applled to the Sums secured by thls �-°-----�
<br />- � t Security Inst�ument, whether or not then due, wilh any excess pald to Bortower, If Bortower abandons the Property, or does not f.;_Y_
<br /> . :. 1I :xcr:--�
<br /> answor wlthin 30 dAys e notiCe from Lender th8t the insurance cerrier hfls oNered to settie e ciakn, then Lender m8y colleCt the _
<br /> - � insurance proceeds. Lender may use Ihe proceeds to repalr or restore Ihe Property a to pay sums secured by thls Security t-�-,��_�;
<br />- + �"-,�n---�-- ---
<br /> Inslrument.whether or not then due. The 30•dey perlod wiil begi� when the not�e Is give�. _ '_: _
<br /> • Unless Lender and Borrower otherwis9 agree in writing, eny applfCatlon of proCeeds to prinr,ipai shall not extend or postpone the �� �_
<br />- due date of the monthly paymonts referred to in paragraphs 1 and 2 or chanpe the amount of thd payments. If under paragreph 21 F 1 �-
<br /> � the Property is aCqu��ed by Lender, Borrowors right to any insurence pollcles and proceeds resufting from damage to the Property prior �.�.4�;,,:
<br /> �R�
<br /> � to lhe eCquisition shall pass to Lende� to the extent of the sums secured by thls Securiry instrument Immedlatety pr�or to the `�,,,",;.' +��-
<br /> .�e,: ,.'.�;
<br />- acquisitlon. � _�.�
<br /> 6. Occupancy, Preservatlon, Maintenance and Proteation of the Property; Borrowor's Loan .,
<br /> Apptieatton; Leaseholds. Bomo�rer shail oecupy, establish, and use the Property as Bonowers princfpal r8sidence within saty .r�,,
<br /> days after the executian of this Security Instrument and shall continue to occupy tho Propady as Borrower's principal resldence for at
<br /> leasl one year aker the date of occupency, unless Lender othorvv�se egrees fn writhg, which consent ShaN not be unreasonably
<br /> " wilhheld,or unless extenuating cKCUmstences exisl which are beyond Borrower's contro�. Borrower shall not destroy,damage or fmpalr .
<br />= I the Property.ellow the Property to dete�iorate, or Commit wasle on the PrOperty. Bortower shall be in default if any forfeiture aCtfon or
<br /> J proc9edNg, whether crvil or criminai, is begun that in Lender's good faith judgment could result in lorteiture of the Property or otherwlse
<br /> . .. . . .. .,---•-•-- .,.._.. ...�... ��...ti n nnfault and —_..
<br /> , maleritilly impafr the lign created by this Security InStrument or L8n0ers seeurrty �rnme»�. �����^o� •••°, ��•- ---� - --
<br /> ' � reNState, us provfded in pnragraph 18,by ceusing the actlon or proceoding to be dfsmfssed wRh a ruling thet, In Lender's good lafth �
<br /> ; delermmation, precludes �orteituru of the Borrower's interest � tho Proporty or other malerlal impa�rment of the ��en creatod by this
<br /> � 5eturity Inst:umenl or Londer'S SNCUrity interest. Bo«ower ShIIll flISO be fn d91flult if BortOwer, during the IOan app1iC8tI0n procoSS. �
<br /> - i gave matent3Ny false or �n�CCUrete inlo:mation or statomonta to l.ender ;or fe�bd to provide Lender with tiny materisl inlormation) in I
<br /> connect�on wdh the loen evidOncod by ihe Notc3.including but not limited to, repre�enlatlons conCBrning Dorrower'S occupnncy of ihe
<br /> Pruperty as a princ�plil res�denca. II ihis Socurity Instrument is on a �easohold. Oorr�wer shall comply witr� all the p�o��sions oi the i
<br /> lease. i� Borrowe� ucquires tee t�lle to Ihe Praperty, Ihe leasehold and the fee tdle shali not merge unless the Lender agrees to tho I
<br /> meiger m wnling- t„�,., ,wn ynu
<br /> ' ��07�+1Mq ��ov/) P+go ?u�S .
<br /> T �.>> �_. . . .. .
<br />
|