|
-- `�x5� . . - � ;�
<br /> . _ .
<br /> . — - - ---
<br /> :,y
<br /> �-v--;- . . - ` . , � ' � , . _ < ' r. `.:�
<br /> ' . . - .�. . . ... _ `'�•' 4 °,i�_--• �:K . ` �_..�'-<.._ __�.a^_....___�_.�_..`...,.i` .L.�4a .' _. _�.._ � ,�.ti.. _...:.� . .�
<br /> ,.i . , ___..Lati±_ ,..—___�_....�._�__ �-`-� ..n,
<br /> iG . �
<br />. : .. : ' .. �< <� ei. �
<br /> . . . � . . .f-.
<br /> (, •� � c i
<br /> c . t ..
<br />- � � • ' � BORROWER COVENAN'I'S Wat Borruwer is lawfully seised of the�tate hereUy oomreyed and has the rIght to 4� ,:�� ..' y°;<� .,`;.
<br /> . �: �;�F grant aad oomrey the Fcogeny and thst We Progeny L�unencnmbered.e�ceFt fnr encumbraaoes af rewrd. Bormwei , _ , �
<br /> '�� warraats audwill Qefend genecally We titte w the Progertyagainst allr�ims anddemauds.subject waay encumbiauces � , � , .
<br /> � � of reoord. � : .
<br /> , .. � `I THIS S�CU1tiTY INSigi[T1�1T aombines uniform aovenants for nae�onal use and nan-uniform oovenants with � � � �^.
<br /> . � limited vatiations by jurlsdtction m oonstitute a nniform securlry insuu�nt oavering reai property. � `
<br /> ' � � UNffORM GOVENANTS. Borm�rer aad Leadea oa�renant and agres as forioars: dA < ': .. ;
<br /> � � _ - :� A _ ., . .
<br /> , 9. Fsymcnt oY�iasapal,IaLer�t aad Iate�arg� Borrower saail gay when due the prindpai o�and interest Q� ` ti � , `...,
<br /> _ � .`.-� on,the debt evideaceQ by tII�Note aad tate c�rges due ua�eer the NoL� � _ o
<br /> h
<br /> . . z Bao�r Payraeat of 1's�cs.�a�a oth�a QGa�ges. Borrower snau tuctuae in�cn moatHig Paymeat.G� - .-
<br /> ' together with the piiaclpal aad interest as set fortfl In the Note anQ any late charges,a s�for(a)tases and special
<br /> . . . • , assessment�tevI�t or w 6e levIed ag�iast Ute Properiy,(b)lease�oid payments or ground renis oa the Property,and � . � `.
<br /> � . . (c?prentiums for insuianoe reqnired nader pazagtaph 4� In suq year in whici►the Lender m�st pay a mortpge ..
<br /> ' � : insutance preminm w the Secretasq of Hoaslag and Urban Develop�aent�Secretary°?,or in any year in wbich such _� - --_
<br /> . . , premin�wontd�ave been required if I�eader still heId We SeauIty Iastsnmsnt,each monttil9 Payment shall atso � •{;_ ��.� -.��--�'
<br /> iactnde either.(i�a sum for the ann�ai mortgage iffiarance gremium to be paid bq L�eader to the Sesretary,or(i�a ` .�Y
<br /> � � � montHly charge instead of a mongdge insmance preminm if this Secariry Instrament is held by the Secre4ary.m a : ..'�'�
<br /> reasonable amonni to be detetmined by the Secretuq. E�ept for tite manthtq charg�by tite Secretatp,t1�se items '''���`'
<br /> .• . are calZed�sctow Items"aud the sams paid w I.ender are dled°Escraw Faads.• ` ��. �
<br /> ., � -�,.
<br /> ' �( .Ai_ '._.a�
<br /> '. . . Lender may,at,azry ttme.coltect and hoId amounts for Esca+aw Items in an aggregate atQOant not to esoeed the . �v -
<br /> ma�mnm amonat that may be reqaired for Borrower's escmw acoonnt undcr the Real Fstate Seutement Procednres ' ��.�� . :'_-�.
<br /> � Act of 1974,12 US.G g�Zb01 e s .aad imptement[ng regntations,24 Cf�R Part 3500,as theq may be amended from � --
<br /> � . � time to time('RESPA',escept that the coshion or reseiv�permitted by RESPA for uaantIcipated disbursements or r;t _
<br />_ . �..... dis6msesaeats before the Borrnwei's gayments are avaitaUle in the asaonnt may not be based on amonnts dae for tlte � .. _ -- ----
<br /> mortgage insuranoe preminm. . .
<br /> ' . lfthe amounts heId Ay Lender for Escraw Items esoeed the amonats permiued to be fletd by RESPA,Lender shall $ ;"..��.
<br /> � , aacount w B osrower f or t he e�ace,sg f u n d s as req n i r e d b q 1 t E S P A I f t h e a m o n n t s o f f a u d s h e l d b y L e a d e r a i a n y ti m e � ,.�`.�� '''�"�
<br /> . __ , are not saffident w pay t6e Bscmw Items wflen da�Lender may notify the Boimwer and reqnire Borrawer to make � - - , ;���3---
<br /> . np t�e shortage as pe�tted by RESPA -���
<br /> :' :��:�
<br /> � . : The Esccow Funds are p2edged as addittonal secartty for all snms secaued by this Secoriry Insuument If Bomawer � _ -
<br /> � cende�s to Lender the fnil payment of aU snch sums.Borrawe�'s aa�nnt shall be csedited with the 6alance remainiug - - -_--
<br /> for all iastallment items(a),(b),and(c)aad aay mortgage Insuranoe preminm�nstallment tUat I.cnder has uot bewme ' ira
<br /> �. obligate�to pay w the Secretary.sud Lender shall pmmpily refand any esoess fo.nds to Bonawer. Immedtatelq prlor � . • _– -
<br /> � ' to a forecIasure sale of the Progerty or its ac�gnisitton by Lender,Bormwer's a000unt shall be creGIted with anp 6alaace � ,��=y
<br /> aq
<br /> . • remaining fot all installments for items(a),N),and(c). ': �::3~
<br /> •,t•ra.c-
<br /> � � � APP���� All paymenrs under puagiaphs 1 and 2 shaU be applled bry Lender as fallaws: � , �..��
<br /> . F�S,to the martgage inswac�preminm to be paid by Lender w We Secretary or ta the monWly charge by the •. ;'`;�
<br /> �_ ... . Secretary tnstead of the manthiy mongage insuiaace premlam: - - :.-=
<br /> � . � • SECOND.to any t�es,spectal assessments,2casehoid payments or gcound rents,and Sr�IIood and other ha7ard � �� �.��i:--
<br /> . .. � Insnrance preminms.as required: . ,����
<br /> � , . TI�IR ,to interest dne nnder the Not� •� ��
<br /> • � ' FOUR w amort�ation of the prlucIpal of the Not�and . . ,���`
<br /> � . • FIFPH,w late charges due uuder ttte Note. . �_ . �' �:�_�*r_
<br /> � • � 4. P�re,Ftaod an0 Othe�Ha�rO In�ana� Borrower svall insnre all 9mpmvements on the Property.whether • ` .,�;
<br /> � . now iu erdsteace or subsequentiy erected,aga�+st any barards,casualties,anA oontingencies,inclading&e,for which '. , . __
<br /> . � . Lender requires insurance. 't9�is insnraace shall be malntained in the amouats and for the periads t�aat LenQer . , - __
<br /> n
<br /> . g reqnires. Boaower shall eLso iasure aU improvements on the Propesty,whether nrnv in existence or snbsequently .. � : _�
<br /> �� ' �-�'-�- 3 erecte0.agaimst loss by flaods to tGe extent regnired by ihe Sertetaty. All insurance shaii be canied with companies � •,��� - . . .f
<br /> , ... approved by I.euQer. The lasurance pollcies aad any reneauals shall be heid by Lender sud sha11 Include loss payab2e ���`"�
<br /> `� ctauses in favos o�acd in a form asceptab2e to,Lender. , .: • . x
<br /> In the event o�to s s.Boaower shatl g t ve Lender lmmediate notice b y mail. Lender may make praof of loss if not �.
<br /> ,; � � made promptty by Bonawer. Each Inswance wmparry ooncemed ls hereby anthorized and directed to make pay�uent . � `���
<br /> � for such Ioss direcdy w Lender,instead of w Borrower and to Lender jointly. All or siry part of the insuranoe �
<br /> prooeeds may be applled by Lender,at its option,either(a)to the redactIon of the indebtedness uader the Note and ' . '
<br /> this Securlty L+osuament,8rst to any deiinquent amounts applle4 in the order in paragraph 3,and then to prepayment „ �
<br /> of princlpal,or(b)to the restaraSon or repair of the damaged Property. Any appllcadon of the prooeeds to the � � ,
<br /> . , princlpal shall not extead or postpoae the due date of the monWly payments which are referred to in paragaph 2,or �• " . .,
<br /> �� change the amount of snch payatents. Aay escess inswance prooeeQs over an amouat requlred to pay all ontstanding �.
<br /> ,�,, � lndebtedness unQer the Note ana thls Securlty Insuument shall be paid to the endty legally endtted thereto. �,�
<br /> In the event of forec2osure of this Security Instrument or other transfer oY title to the Property that extingidsheg .. � ��
<br /> � � the indebiedness, all dght, t�tle and lnterest of Borrower in and w lnsurance polic2es ln force sha}1 pass to tha c �
<br /> . . putchaser. . '
<br /> .. S. Occnpaaoy, Presenration, Maintenaane and Ymtec�tlon oi the Pmpertp; Boaowe�s Ioan Applir�tioa; . .
<br /> � i,�s�hn2Qs Borrower shall occupy,establish,and use the Property as Borrower's princlpal residence w1Win slxry days , . �
<br /> .. after the executton af thls Security Insuument(or wlthln sficty days of a later sale or transfer of the Propeny)and shall � ' '
<br /> . i oontinue to occupy the Propeny as Bonowet's pr�tcipal res3dence for at least one year after the date of accupaary, � .
<br /> ,�• , � unless L.eader determines that requirement w1U cause undue hardship for Bunawer. or unless extenuating .� '
<br /> c�rcnmstances eadst which are beyond Botcov►er's control. Borrower shall notlfy Lender of any extenuating � � .
<br />: _i; NBBf1l�SK/NFHA 19BFD oIr 9RUST 6196 . . . � : . •
<br /> no�vmm�syae�,�a�(soq a:suei Page 2 oP 6
<br /> ',t� : : � -i - --__. ;
<br /> � -- _
<br /> .
<br /> : � -
<br /> ...� .: �,.,�. _ � _ _ . _._ , _.. . . _ ,. __.. . _ _ .,_ �_ . -_
<br /> . , . . _ . . . _ - . ,_ .., . _._ �"�
<br />
|