|
. � o- , ' - �. - _ �::r." - `+ ' •---'--'-�'t'." .�-•4----�.- - _ ` - -- —
<br /> -,� ,y -_....._�.._---�- ,._- _�.- - '-_-'__ �- .. . -�fa °�-E-�.�..�i.
<br /> �4��5 �y -��
<br /> 97� , . � - Y
<br /> The Fundti shall be held in un institution whose depo,its are �nsured by a federal agenc�. �n�[rumentality. ur entit; ` •,;,,, _
<br /> •• (including L.enS�r.if L.ende�is such an institutionl or m am Federel Hon�e Loan Bank.fi..ender+hall apply the Fund.to pa} the , __ � � �
<br /> Escrow Items. Lender may not rharge Borrow'er for hnlding and applying the Fundti,annu:►tly anahnng the escruw•acrnunt, or �-z:F-', --; �—_
<br /> verifymg the E.,crow[tems.unlesy Lender pays Borroa�er intereyt on the FunJ,and applirsble law pemnts L,endet to make+uch
<br /> a charge. Huwe�•er. Lender may require Bonow•er to pay a une-time ch:uge f��r an independcnt rea!e..tate tax rcporting�ervi�e ._
<br /> us��i by Cxnder in cunnection tivith this loan, untess applirable lar� provideti othen��i�c. Unlesa an agreement is madc ur '`
<br /> , applic�able law require+inberesi to be paid.Lender shall not be requin:d to pay Sormwer any �nteretit or earnings on the Funds. , _
<br /> Borrower and ixnder may agree in writin;. iiowe�•er.that intere�t shall be paid«n the FunS�. l.etxier shall give tu Borrower. � •T
<br /> without charge. an annu:il accounting uf the Funds, showing credits and debita to thr Fundy and the purpose for ahirh �ch ,;;,:;.,�,�;�;-
<br /> � debit to the Fund�w•as madz.The Funds are pledged:►s additiunai,ecurity for all,um�+ecured b} thi,Se��urity (nstrument.
<br /> If the Funds held hy L.ender exceed the amounts permitted to be held by applic::ible law. Lender,hall account m Bi�rro�tier
<br /> for the excess Funds in accordance with the requirements uf applicable lau. If the amuum uf the Fund�held by (.ender at any
<br /> T'"�:'" ume is not sufficient to pay the Eac:row Items a•hen due.Lender may>��notify Bnrrowcr in H�rning.:►nd. in.uch�atie Burmwer _.__ _ _
<br /> < . S�I pay to Lender the amount lecestiary to make up the defieiency. Borrou+er tihall nvilce up the deficiency in no more than :
<br /> twelee manthly payments,at l.ender's wte discretioa. �_
<br /> Upon payment in fitll of all suma secured by this Securitp In+trument. Lender .twll pr��mpdy� refund to Burrowcr siiy �.-..�. �_;
<br /> � Funds held by l.ender.If. under par.��caph 3t. l.ender�hall acquve or+eU the Propercy. Lender.pnur tu the acyuuiti�m ur.ale � ;� � f
<br /> of the Property,shall apply any Funds held by Lender st the ume nF acquis�tion or.:ile ac a creJit sgaimt the �ums S�ur�! by r=N:�;,,.,.,;.�i._:
<br />':>=:;�:., thi,Security Ins[rument. � �-��• '�� .
<br /> .R�•�!"�=`':'
<br />'�� ' 3.A luattan oi Pagwents.Unless applicats'.:larv provides otherwise.�I payments received by Ixnder under paragraphs '��::�.,•�� s:-
<br /> . ,�;;-�. pP� � _�::y,.
<br /> �'�;i-:r • 1 an�2 shall be applied: first.to any prepayment c'har3es due under the Noit; second,to amounts payabte ur.der paragraPh 2:
<br /> �`. third,to interest due:fourth.to principal due:and la+t,to any late charges du� under the A[ote.
<br /> :,.���..
<br />- •>: . .�...��,,�,----
<br /> 4.Charges; L[eac• Bor►nw'er shall pay all taxes.assessmenu, charges, fines and impositiaru a[[ributable tu the Property � `` •_t�a��--LL
<br /> . which may attain prioriry over this Security Instrument, and leasehold paymenGc or ground rents. if any. sorroWer shall pa� ":f. �
<br /> these obligations in the manner provided in paragraph 2.or if ne:nsid in that manner. Borrower shall pay them on time direrdy ; .� ''-�.'�_Y
<br /> to the penon owed p�ayment.Borrower shall promptly fumish to E.ender all notices of amounts to be paid under this paragraph• •.�y�., r;,��„�_
<br /> If Borrawer make�s these payments directly.Borrower shal!promptly fumish to Lender receipts evidencing the payments. -:.•._�
<br /> •. _,.._.
<br /> Borrower shall promptly discharge any lien which ha+prionry over this Securiry latitrument unless Borrower: Ia)agrees m , s.. — �
<br /> writing to the payment of the obiigacion secured by the lien in a:nanner ac�eptable to Lender,(b)rnntc�tti in gu�xi faith the lien �����
<br />°�� , by. or defends against enforcement ��f the lien in. legat proce�ings which in the Lender's opinion operate to prevent the �._
<br />.:;,i.,-�-�. ,
<br /> enforcement of the lien: or(c)�CtiL'��from the holder of the lien an agreement saticfactory to Lender subardinating the lien to 7c,.F=-r�-n ;: _
<br /> . •?�•�rs�;��,.r,�,..,;.•-.
<br /> this Security Instrument. If Lender::�.ermines that any part of the Property is subject ro a lien which ma}•attain priority o�'et - ft��
<br /> -- thi�Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien ur take one or "��Y�,; }� ��'s�;;�.��_
<br /> r
<br /> � � Xl€__.��:-„c
<br /> more of the actions set furth above within 10 days of the giving of notice. �f'•°,s�r,:'.�`;,.'^
<br /> - 5. Hazard or Property [nsurance. Sorrower +hall keep the improvement> now existing ur h�reafeer erected on the r_�a h� �s�' 4 '�. ��;_
<br /> Property insured against loss by fire, hazards included within the term "extended coverage" and any o.her ha�ards, in�ading , z .� .tf� .�',
<br /> i floods or tlooding, for which Lender requires insurance. This insurante shall be maintained in the amounts and for[he p:riods
<br /> that Lender requires. The insurance carrier providing the insurance shell be choscn by Borrower subject to Lender's approval �l.;��4' �: .
<br /> Y , r�;'•:.;:r::
<br /> which shall not be ar"��-�onably withheld. If Borrower fails to mainuin coverage described above, Lender ma . at Lender's .Y ,a` .x�f5
<br />' -� option.obtain covera�::o protect Lender'�rightc in the Property in accordance with paragraph 7. , ., . -::�:;;f�,��;:.
<br /> AU insorance pol�etes and renewals shall be acceptable to Lender and �hall inelude a ctandard moRgage clause. Lertder •.,�..j .;;<<t::: �,__.
<br /> � '"' shall have the right to hold the polic:�and renewals. If Lender requirts.Borrower shdll promptly give to Lender all recei ts of � :.
<br /> '��:+ ;�' paid prerr�iumsand renewal notice�. i7 the ever.t of loss. Borrower yhall give prompt notice co the insurance carrier and Lender. ,; .,fi`,``"..'.�ii ',?
<br /> Len der may m a ke prao f o f l o s s i f n o t m a d e p r o�n p t l y b y B o rt ower. ��k °•�'��' :�_
<br /> Unless Lender��3 Borrower otherwise agree in wnUng,insurance procecxis shall he applied to restoratian or repair a f t h e .;�..j�r f�r;.,��,;^��_
<br /> . Property damaged.►f ihe restoration or repair i.economically feasible and Lender's security is not lessened.Lf the restoration or , ., ,�.;,r.-•�.
<br /> �t.,���'.
<br /> z.,,'r,��..�..,
<br /> ". ,. repair is not economically feasible or Lender',security wnuld be lessened. the insurance procceds�hall lx applird tu the sums s� ., ;;�.•�
<br /> secured by this Security Instrument. whether ur not thcn du:.. «•ith any excess paid to Borrower. If Borrower abandons the � • � �-
<br /> ,>xi�,-:
<br /> ���,j,�,:
<br /> ' � Propeny, or does not answer within 30 days a notice from Len�r that the insurance c.arrier has offered to settle a claim, then �R�y J
<br /> Lender may collect the insurance proceeds. Lender may utie tae proceeds to repair or restore the Pruperty ar to pay sums .
<br /> secured by this Sera�::'.y Instrument,whether or not then due.The 30-day�:.��ud wi�1 begin when th���,otice is given. _____�;�.'i'�.� -
<br /> � Unless Ixnder wzd Borrower othernise egree in writing, any ap;=�:��!on of proceeds to p.-,:�cipal shall not eatend or ��'"'
<br /> ' pastpone the due date of the monthly payments refeneci to ►n paragrap::s � and 2 or change the amount of the payments.lf �__.=:�'z".,;;;-
<br /> � under yaragraph 21 the Property is acquired by lxnder, Borrowzr s r.g?�t to any in5ur�nce golicies and proceeds resulting fram �.—, -- _,.
<br /> damage to the Praperty prior to the acqwsition shall pass ta Lend:r co L::ex:��nt of the sur.s secured by this Security instrument �.��..-
<br /> imme�iately prior to the acquisition. � y� �
<br /> l.easetcalds.
<br /> � 6.Occupanty,�en'ation.:Vlatntenance and Protection of the Pro rt •Borrower's Loan A�plIcatian; �'�'��_�;�:,�_
<br /> Bormwer shall occi:;:y.establish,and use the Property as Borrower'y principal residence within sixty d43+after the execution of �,Y, ;i
<br /> ' this Security Instrumen[and.hall continue to occupy the Property as Borrower's principal re�idence for at Iea�t one year after _ . . ;s�3.
<br /> � the date cf occupar.cy. unles,I.ender otherwise agrees in wr..':r�, which consen[shall not be unreasonabiy withheld.or unless •.. ��: �_._
<br /> ' extecu:�=�r:? circumstances exist which are beyond Borroa�;r�� control. 8orrower shall not destroy, damage or impair the �' �
<br /> � Pro ertti�, .:}►aw �l�e Property tn deteriorate. or commit waste on the Property. Borrawe� shall be in default if any forfe�ture �'z�r;' , :
<br /> P . '. �
<br /> � action or p:oca:�tr.;. whether civil or criminal. is begun that in Lender's gond faith judgment could rW�.It in forferture of the � �• '_•;�+,.,`-.-
<br /> Propem ar otherwise materially impair the lien created by this Security Instrument or lxnder'ti security iaterest. Borrower may ,�,,4,�_.
<br /> curc�:.c'�a default and rein�tate.as provided in paragraph 18.by causing the actian or proceeding to be dismissed with a ruling , ,
<br /> '•t � . that. �� 'Lender'� goud faith determmatian. preclude� forfci�;.:re of the Borrower'� mteretit in the Property or other materia� ' '4���,�,;�,;.,��
<br />
|