|
.:; , I
<br /> uny ,,�
<br /> .,_ ..-�.�",^'»... ,. ' � •> . ::..
<br /> . . � � . ��.cc'" ._-
<br /> . � .
<br /> IBorrower'� escrow account under the lede�al Real Estate Settlement Procedures Act of 1974 as amended from time ta tlme, 12 U.S.C. : `,���
<br /> I 2601 et seq.("RESPA"). unbsa another taw that applies to the Funds sets a feseor emount. II so,Lender may, at nnY time, collect und `
<br /> � ho�d Funds in an amount not to exceed the lesser amount. Lender mey estknate the amount of funds due on the basls ol Curront data I ,
<br /> and reasoneble estimales of expenviures o�futuro Escrow Itema or othorwlse In accordance with app��abie Ww• (Q I -'
<br /> I The Funds ShaN be h�ld h en Inst4ution whose deposlts are Insured by e tederal egenCy, instrumentauty, or enNty (u�cludlnp , ry__
<br /> Lender, ff Lender is cuch an inatitulb�) or in any Pederal Home Loan Benk. Le�der shflll epp�y lhe Funds lo pay the Escrow ItemB•� i
<br /> Lender mey not cha�ge Borrower far holding and app�y�p the Funds, annuaily enQlyzi�y the escrow account, or verifyinp the Eecrow � ! _-
<br /> Itema,unWSa Lender pays Borrower Interest on the Funds and appliCabie law permita Lenaer to meke such a charge. However,Lender a _�
<br /> I ma require Borrower to pay a one•Ilme cherge tor an independent real estate tax reponNg serv�e used by Lender in connectlon wRh � i
<br /> Y
<br /> j this loan, unless appliCBblo law Provides otherw�se. Unless an agreamant Is mnde or applicab�e law raquires�teroat to be pnid.Lo�dor N ; �_
<br /> i ��..
<br /> shell not be requfred to pay 6wrower any Interest or earnings on the Funds. Borrower and Lender mey agret� in wrfting, however,that �1
<br /> �. ,; interast shall be pald on the Funds. Lendeo ehfOf whlCh 9ACh d9b% tOkt euFundSew88 n�8d0U8Th0 FUndB 8f8'pledgednas ddabnal� ' � _ ,
<br /> � credits and debAS to the Funds and the purp --
<br /> security fpr aIi sums secured by thls SecWdy Instrumont. '
<br /> If the Funds held by Lender exceed Ihe 8mounts permkted to be held by app�beol¢Iqw,Lender Sh811 account to Borrower for the �:?•---
<br /> I'I ezcess Funds �n accordance wfth ihe requkements of appl�able law, If the amount ol the Funds held by Lender et any tlme Is not �_ _ _
<br /> � suHbient to pay the Escrow Ilems when due, Lender may so notHy Borrower In wrNlnO,end,h such case Borrower shall pay to Lender `�
<br /> • the amount necessery to make up Ihe del�lency. Borrower 5hall make up the defkfency fn no more than lweNe monthly payments,at
<br /> Lender's Sole discretbn. :
<br /> � Upon payment h fuu of el sums secured by thls Security Instrument, Lender shall promplly refund to Borrower any Funds heid by _�
<br /> ' I Lender. If,under paragraph?.1, Lo�de� shall acquire or seM the Property, Lender,prior to the acquisit�on w sale of the PropeRy,shall
<br /> : appiy any Funds held by Lender st the time oi acqui541on or sa�e as a Credft 8g41nst the sums seCUred by this Securlty Instrument.
<br /> � 3. Applicetion of Payments. Unless appl�cable laW Provides otherwis¢,nll payments receNed by Lender under paragraphs
<br /> ; 1 and 2 shall be epplled: first,to eny prepayment charges due under the Note; second, to amounts payable under paragreph 2: thkd
<br /> to interest due;fourth, to prNC�pal due: and last,to any iate charges due under the Note.
<br /> �; � 4. Charges; Liens. eo�rower snall pay an texes, assessments, charges, fines and tmpositbns ettributable to the Property `�_
<br /> ��' whiCh may atta�n prlority over this Secady Instrumec•t, and lee6ehald payments or ground rents, H any. Borrower shali pay these
<br /> ' � obligatians in the manner provided n paregreph 2, or if not pald In that manner, Borcower shall pay them on tlme dlrectly to the person _
<br /> ��,� owed payment. Borrower shall pranptly wrnish to Lender ali notbes of amount8 to be p81d under this paragraph. If Borrower makes
<br /> � these payments dkectly,Borrower ahell promptly furnish to Lender rocAipts evldenchg the payments.
<br /> � Borrower shall promptly dischergo any Ilen whlch has prlority over thls SeCUriry Insirument unless Borrower:(a)agrees In writing to _
<br /> the payment of the oblqation secaed br the Iien in a manner acceptable to Lender; (b) contests In good faith Ihe Ilen by, or defends
<br /> agalnbt enlorCement of the Ilen in,IBgal fxoceedings wh�h In the Lenders oplNOn operete to prevant the entorcement of the I'�en; or(c) _
<br /> secures lrom the holder of ihe Iien an agreemeni aai��t&GYvty t0 LCnL'"••f �ubord„9tino the Ilen to thls Security Inslrument. If Lender __
<br /> . determines that any paR of the PropaAy!s Webs�811 satlsly thehien or81 ke o epob orevof thesactbns set foAh aboveewidthklrtl0 days � -
<br /> Borrower a notbe Mentaying the lien. Bor o �a��
<br /> • of the givin9 of notbe.
<br /> 5. Hezerd or P�operty Insurance. Bortower Shall k89p the knprovements nOw exl5ting Or here8fter erected on the
<br /> fre haza�ds included wfthi� the term"extended coverage"and any other hazards,�cludinp floods or —
<br /> • Pro ert Insured aqainst loss by , he erlotJs that Lender
<br /> � P Y n s and for t P
<br /> amou t
<br /> h ined h the .;.
<br /> h II be ma ta
<br /> � floodNg, for whbh Lender requkes i�swance. This hsuranCe s a
<br /> - �,.� requlres. The insurance carrier povlding the insurance shall be chosen by Borrower subject to Lender's approval wh�h shall not be
<br /> 4 • unreasonaby withheld. If Borrower fails to maNtaln coverage descrWed above, Lender may,at Lender's option, obtain coverage to _
<br /> � protect Lenders rlghts n the Property b accordance with paragraph 7. _ --_
<br /> K• All Insurance pol�ies and renewals shall be acceptable to Lender and shall InClude a st�e i dLe de 88o rece pts Of pald p e'miums = ---
<br /> the right to hold the poliCles and re�ewa�s• If Lender requkes, Borrower shail promptly g �:
<br /> and renewal no�kes. In the event of bss, Borrower shall give prampt not�e to the insuranCe carrier snd Lender. Lender may make ` •�
<br /> R' proof of loss if not made promptry by Borrower• G;
<br /> +,': i Unless Lender and Bo�rower otherwise egree in writ�ng, �nsurance proceeds shall be flpplied to restoratlon or repalr o1 the Property �., __...__
<br /> � � � damaged, it the restoration or repfllr is eCOnom�aAy feas�b�e and Lender's Secudty is not lessened. If the restoration or repak I5 not 1 . `
<br /> economiCally teasible or Lender's secu�Ay Would be lessened, the insurance proceeds shail be applied to the sums seCUred by this � __
<br />_ �{ �
<br /> - a 1 SeCUrity Instrument, whether or not then due, wtth any excess paid to Borrower. II Bo�rower 8bandons the Property, or does not
<br />� ' �� enswer within 30 days a notice►rom Lender that the Insurflnce Carrler hes oHered to settie a cla�m,then Lender may colleCt the ��
<br />_ � I insurence proceeds. Lender may use the proceeds to repalr or restore the Property or to paY sums secured by this Securiry = :.
<br /> ' � Instrument,whether or not Ihen due. The 30•dfly period will begin when the notke is gNe�• �, :.: ;;y: `�
<br />- Unless Lender end Barower otheiwise agree in writing, any appliCatlon of proceeds to principal shan not extend or postpone the � �:��? h...
<br /> .��� ' �'°'�.:
<br /> � ' ! due date of the monthy paymenls relerred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 21 , �:• _;`:
<br /> I the Property is acquired by Lende�, Borcower's right to any insurance policlas end proceeds resulting trom damage to the Property p��or A. ,
<br /> I to the acquisition shall pass to Lender lo the extent of the sums secured by ihls Securlty Instrument knmedlatety prlor to the i I '�j;att-
<br /> �.i:.
<br /> � eCquisition.
<br /> � 6. Occupancy, Pr�servatlon, Maintenance and Protection of the Property; Horrower's Loan
<br />�. yApplication; Let+seholds. Borrower shell aCCUpy, estabiish, end use the Property as Borrower's prinClpai resldence within sbcty
<br /> I days after the execulion of this Securiry Instrument and shaY continue to occupy the Property as Borrower's principal resfdence fo�at
<br /> � least one year after the tlate a� occupanCy, unless Le�der otherw�se agrees in writing, whiCh consent shall not be un!easonably
<br /> • withheld.or unless extenualing crcumslances exist which are beyond Borrowers control. Borrower shall not destroy, damage or impair „
<br /> � the Property,allOw the Property l0 deleriorate, or Commit weste on the Property Barower shaA be �n defaull if any forfeiture action or
<br /> : proceed�+g,whelher cNil or criminai, is begun that in Lender's yood�aith judgment cou�d result� foAeiture of the Property or otherwise
<br /> ..,e�o.:ou„ �mnw�r �hw lien created by Ihis Security Instrumont or Lender'S seCUrity Nterest. Borrower may Cure such a delault and
<br /> ... �e...1nr'e nnnd }adh . . .
<br /> f re��state. as provided m p8�eg�eph �8,by causing the action or proCeed�ng to be aismissed w�i�� o �����'v �•"•��• -• --�-- - � r --'- '_ -
<br /> determinetion, preCludes �o�eitu�e of Ihe Borrower's interpst in the Property or other materlal impafrment ol the lien I�Cataond b C 55, I
<br /> Securay Ins trumant a Lender's securdy mterest. Bo�rower shall also be � defauA if Borrower, durmg the loan app� P I
<br /> gave maten;�lly false or mnccurale inlormation or stalements to Londer (o� ta��0d lo provide LOnder w�ih any m8te��a� in forma t�on) in
<br /> co��nQCaon w�th ine ioa�ev�de�ced br the Note, �cludmg, but not limited lo,representetions concerning 6orrower's occupancy of the
<br /> � Prope�ty as u prnc�pn� res�dence. II this Secur�ty Instrument is on a leasehold. Borrower shall compH W��h a�l th6 pr�viSionS of the
<br /> �ease. If Borrower ecquues fee tdle lo the Propehy, lha leasehold und the lee title shall not �nerge unles5 �ho Londer pgrees lo the
<br />— f o��� 7078 B 80
<br />� me�gor m wnt�ng
<br /> ����777 Piqo 'l u�5
<br /> 1 t�:•J:A�II(�l,y/) �
<br /> S
<br /> �
<br /> _. tii
<br />
|