|
:;.� `�':.�:
<br /> - — , . . - . _ - - - , - . - - --- .=�. — -
<br /> �. , • . � .. � . - . . -
<br /> , ��,- _ _`<. • ' � ` � - � : - _._ :..�_ �` t
<br /> _ .. , � � - - - .,_ .:_ - . : _ .._ :. . "--. . . .__ ...: ..._ 1 . ".. _. . _ ._ . . .' -' . . �..:o' .. . i: . . , .r..
<br /> �.. < .� ,` � ' ' ,. • � }y t 1 , , �£` .
<br /> , � � BORROWER COVENANTS tt�CBorrower ts IaMuliy seised of�esrate h�eb}r6omeyed and has the rl�ht to grant ..::,� .:����� '`
<br /> � , S aad onm�ey the PmpErcy and thaz the Fmpetty+is uneacumbered,e�ePt for eacumbranoes of reaard Borrowet wan�aats aad ; .
<br /> . � ' wID defecd generalty the title w the Property against all claia�s and demaads.subject to siry eacumbrances of r�ord.
<br /> . , , THIS SECURiTY INSTRUMENTwmbmes uniform ooveaants for aatioaal use and aoa-unIfQrm oovenants with timite� (� ,�
<br /> • � , c '� } variatioas by jiui�caon to oonstitute a unif�im secaisity ia4uument aovering real gmperry. ! . `
<br /> , . . UNIFORM COVENAN'15. Borrower sad Iender aoveaaat aad agree as follnws: '
<br /> - � , . � 1. Paym�t ot Prdndpaf,Interest aa0 IBte t�s�ge. Barrower shall pay whea du�the principal o�and interest oa,the � , �. �
<br /> � ` debt evidenced by the Note and late eharges due uader the Narte. t� � � �
<br /> =` , . ,I 2. �ianttsi�Paym�t o!Tsa�.insueaaces,eaa other chae�es. Borrower shan inc�luae in eac�mnnshIy payment, � ' -
<br /> antts
<br /> ` , ._ ,� together avith the pr�ipal and interest as set forth in tbe Note and suy late charges,a sum for (a}taxes and spectal �
<br /> assesamenrs IevIed or to be levied against the Pcoperty,(b)leas$hotd payments or gtound rents oa the Froperty,and(c) `
<br /> - . � � premiums for msuran�e nquired uader pazagraph 4. Ia ai►y year ia which the Lender must pay a mnrtgage iaswance e6� _..__'_ �.�.` '_
<br /> ►y
<br /> . � premium w ths Secre�y of Hnnsing and Urban DeveloPment("Secretary°?.or in suy year in which such ptemium wouId
<br /> ' ' � have been requ.ired if Lender sdll heW the Seauiry Insuuusent,each monthIY Payment shall aSso inctude citi�er.(�a swa for ,.. ,-��.'��.!
<br /> . ., .
<br /> ;� ' � the aanual mortp,�ge insusaa�e premium m be paid by Lender w the Se�etaiy.or(i�a monthly cbarge iagtead of a mortgage
<br /> ' � , � ` tnsivanoe premh�m if this sesuricy rmmume�t is held by the see+etaiy,m a reasnnabls amonat w be aete�d ey the �
<br /> � ' � _ seeetary. Fs�oept bor the monthty►c�arge hy the Secxetary,these items ane caII�i"F�cmw Ytems°and tise sums paid w r.enaer ``
<br /> =i. are caUed"Fsscmw Funds.' ;. �
<br /> `�, � . . , Lender may,at any tim�oollect aad hnld�mounts for F�crow Items in an aggcegate amount ant to e�ceed the m�um ` ' °,�
<br /> cee :�;;:°
<br /> '`;: , amouat that may be required fnr Borrawe�s escaaw acoouat vader tlse Re�l Fstate SeuIement Pmoedures Act of 1974,12 ' � `. �
<br />�{' , . U.S.G§ 26U1 et sen• aad implemenang regulatioasy ?A CFR Part 35U0.es theY ma3►be ameaded irom time to dme ' . ..�-�-°-�
<br /> .,; • _ ,
<br /> y• ' (°RFSPA'�,escePt tltat the cashion nr resetve penmiued by RFSPA for w�aa�apated disbuisements or disbsusements befose � _:—�
<br />-;};,. � �� the Burrawer's paymeats at�e availabte in tbe a000unt may aot 6e based on amounis due for the moztpge fasuzaaae p�mium. . . ----
<br />'?� If the amounts bedd by I�tcr for Facmw Items�the amouau pesmitted to be held by 1tFSPA,I.cndcr sl�ali �', .
<br />_:'• . . acnount to Bormwer for the e�cess funds as required iry RFSPA If the amaunts of funds held by Lender at a�r time are not -`F��_
<br />' �; , auffcient to pay the Escrow Items when due.L�nder may notify the Bormwer aad require Botmever to make up the shortage � . = ;;�
<br /> �4� : . as permiued isy RESPA � •` �°.: �.�` --
<br /> . The Fscrow Funds are pledged as addiilonal seauity fnr ailsums securedby tMs Security Insuument. If Bomowet tendets m -- • =-. _
<br /> �� � . w Leader the hill paymsnt of silsuch sw�.Bormwe�s aooeunt shaII be cceditedwith the balaaoe reataining for aII iastaRment Q . .:�`_,--
<br /> `� , icems�a).N),aad(c)aad atry mongRge ia�uanc�premir.�instaIIment that I�ender has not be�ome obllgated to pay w ttie � . �.,,��_,,:��:
<br /> ' , , Secretary,and I.ender shall pmmptly refund aTry excess fimds to Borraarer. Immediately prior to a foieclosure sale of the � . � ;�.� '
<br /> _ Property or its aoquisitsfln by Lender,Borrawer's aa�ount shail be credited arith acry balance rema�n{ng for ati�nstallmeats for .. -
<br /> ' " items(aA(b),and(c). - -_-
<br /> �4:� � • 3 ADPllwtloa of Papmenta Atl payments under paragtaphg 1 aad 2 shaD be aPP�dY Lender as follows: � ��•� ; --_
<br /> S T to the mortpge insw�ance premium w be �* b y Lender to the S e c r e t a ry or to the m o n t t i t y chatge b y the , ' . � j;�'�-
<br /> . Secretary iagtead af the mnntt�ly mortgage fi�uran�premium; ,� �_.;_-
<br /> �; �. . SECOND. to any t�s.apedal ass��°sus.leasehotd payments or gcouad rents. and fae,fl�od aad othes ha7ard � ;;•�.
<br />. r,s , inn�ranaS PICIDi11IDg.eg ICQI1�T2d; �.j `. ..;,:'s%°'
<br /> E , . . .; • ; ...�,..
<br /> - TEIIRD,to interest due under the Not�
<br /> ; � .;:%... ::?�:�: :
<br /> ' � . . • FOURTH.to amorti�tion of the prtnc�pal of the Not,�and •
<br /> _ ' . ' FIFI'H.to late cY�arges due vader the Note. � . '`":,�,,,
<br /> . . > 4. Fire,Flsod and Other Ba�nrd Insueaac� Boaower sball iagure all impmvemetus on the Properiy.whether now � , . _. -�,_
<br /> . '��� in existease or subsequently erected.against anl+ha�rds.casualdes.and cantingenctcs, �nctuding 5re,foz which Lender ' • ' .?;�--`,:_'
<br />- . � requires Insura�e. Thfis Iasuran�e shall be maintalned in the amounts and for the perlods that Lender requlres. Barrower .;�':
<br />, . - 1, shall also insure all frnprovements oa the ProPertY,whcther now ln existence or suiu�uently eiected.against loss by IIoods , , ' :.,y-
<br /> '-• to the extent requlred by the Secretary. AU iasurance shaD be carried with oompanies approved by Leader. The fasuranve . � .
<br /> polictes and atry renearals shaD be heW by I.ender and shall iaclude toss payable clauses ia favor o�aaB ia a form aoceptable , . .• ���`°
<br /> to,Lender. .. �. "
<br /> _s�'.. Ia ttte event of 1oss,Barrower shall�ve Lender Immedlats nottae by ma�. Lender may make p�of of lnss if not made ' �-°
<br /> pmmptly by Borrower. Fach insnraacc oamparsy wncerned is hereby authorb.ed and directed to make payment for such Ioss � •
<br /> . � '= dtrestly to Lender,i�tead oP to�orrower and to Lender j�mtty. AU or at►y part of the iasuranoe praoesds may be app}ieed � . '.
<br /> i ►y d
<br /> � i by Lender,at ita option.either(a)to the reduction of the indebtedness uader the Note aad this Securiry lnsuument,fust to ••
<br /> . . any delinquent amounts appl3ed in ihe order in paragraph 3,snd tben to prepayment of princlpal,or(b)to the reswration � ,
<br /> • .� or rcpair of ti�e�aataged ProP�Y �Y aPP���a of tde prooeeds w the prInctpal shall not excend or postpoae the due � �
<br /> •'� date of the monthly payments whicb are referred to in paragraph 2,or c�n�e the amount of sucb paymenta eem�oess
<br /> es
<br /> {<;.' . lacwaace prooeeds aver an arsount required to pay all outatanding indebtedness under the Note and th�s Sec�ulty Ia�arsumeat
<br /> . ' shaU be paid to the entity Ie�u,^p entitled thereto. � . .
<br /> - In the event oP forecIosnre of thts Security Iagu�ument or other traasfer of Bus to the Propeny tLat extiaguishea the � ° .•�
<br /> + lndebt�a�s.all rlght,tide and interest of Boaower in and to ingwance policles in force s�all pasg to the purchaser.
<br /> • � ' S. Occapancy�Peeserva@oa,Mainte�aace und Pe+ntectlon of We I'roperis,Bosrawe�s Lonn Appllca@on;Lease6olds.
<br /> ' � Borrawer shall occupy.establlsh.and nse the Properry as Earrawer's principal residence arithin sixty days after the e�rccution . •
<br /> . � � of tHis Secnrity Insuument(or within sixty days of a later sale or uansfer of the Propesty)and shall condnue to oocupy the ' '
<br /> ' ' � Property as Borrower's nrinclpal resideaoe for at teast one year after the date of oocupancy,unlesg We Lender decermirfes that .
<br /> �.. . � requlrement wIll cause undue hardship for Bonowcr,or untesa exteauating clrcumstaaoes e�dst which are beyond Bonower's � : ..
<br /> oonuoL Borrower shall notify l,cnder of aay extenuating clrcvmstaaoes.Borrower shall not oommit waste or desuay,damage
<br /> _ `,�. ` or substantially change the Properry or ailaw the Property to deterlorate,reasonabte wear aad tear excepted. Lender may .
<br /> I inspect the Property if the Praperty is vacant or abandoned or the toan Ls In defaulG Lender may take re�sonable action to
<br /> + protect and presen+e such vacant or abandoncd Property. Borrawer shaU also be ia default if Bonawer,during We loan .
<br /> � appllcation process.Rave matertally false or inaavrate 9nformation or statements to Leader(or fa�ed to provide I.ender with
<br /> . � any matertal informatton)in connectian with the loan evldenoed by the Note,including,bnt not limited to,representations •
<br /> _ . . � wncerning BonowePs oavpanry of the Properry as a priaclpal residence.If this Secvriry laswment Is oa a leasehoId. �
<br /> '. Borrower shall camp3y wlth the provlslons ot tlte lease. If Borrower aoqulres fee dtle to the Properry,the leasehold and fee
<br /> •, � ; title shall not be merged uNess Lender agrees to the merger in wrlting. �� �
<br /> � � 6. Condemnation, The proceeds of any award or clalm for damages,dlrect or coasequential,im m�nectioa with an}r � � . �
<br /> • � arndemnatian or other taking of any part of the Property,or for wnveyaace in p]ace of mndemnation,are hereby as5igned
<br /> ::�`: � and shall be paid to Lender to the extent of the full amount of the indebtedness that remalas unpaid under the Note and this ! �
<br /> ,. . � ` .
<br /> _ • i •
<br /> . t�assRasxn-Fttn n�n or'rttusr�� �
<br /> o�,mea�sy���.�.teom ea¢uaz Page 2 af 5 � .'--—- --_-�
<br /> i - '
<br /> �• F
<br /> �t', �.. .�-._,:�� ..
<br /> Y.- . - �-:y-:
<br /> ",_.'• 1 '... �� �� ' '. � . - ._ . . _ _ �xy �i 1 t �.+.w- �l.�..:'�� � -��1 •i
<br /> ��J . - .` . .:i�-. e� r r:: ?.aw. .-.�. .,.w.+.a.a+M r�yit� r�Po. t w�. P,:'� 4`i v�w�-�. .t�.r::;� SJm.. _ - -
<br /> . .
<br /> 1._, ..._ -�•� �.. .,�
<br /> C . •?.'•'-. . ... .l�k ,�`36k".��;.-s"_—'� .-�_-±s L-��r-.�;i,�-.a- ,.�..�......L1'rr...n{, .•.. i4„+-�xs..�-sS.s..+.�.,ti+�L,uS..urw r�w�_• ;►'I_. -W. _ �--' v. -,-_�lu.�.�a��-� .� .. _..' •���e.t�. ��1-:,'-.-.
<br />
|