|
� `�.� _s s , . � . z � `.��=..�� �
<br /> � � .
<br /> ._� __ _ -.. .....,.�.- - - -
<br /> ____-�� _ . —�-�--.--T;. . . - -° _- -— _ � -� - - -
<br /> .,. . } •�A 4 �� 'G.�t ..
<br /> •`S . . . . .. . . . . . '� ' ' .�_t�
<br /> �t '` . • � , '. . . � . . . . , . . r �. .c .c • ' - <f. � . '
<br /> _ __ L _�r .c.. _ _ .., -.�:^ f ':c�� - `• . `. _ . . � ` _ .:.
<br />.. " _ . ' < P t ' � .��' _ st _ � .. . ' .. -
<br /> , , v. ..
<br /> _ < - c
<br /> • The Funds shall be held in an institution whose deposits are insured by a federal agency, ia+trumentality. ur entity � • �.�
<br /> , lincluding l.ender,if Lender is such an institution)or in any Federal Home L.oan Bank. Lender shall appiy the Fund.to pay thc
<br /> Escrow Items. Lender may nat charge Borrower for holding and apptving the Funds,annvally anatyzing the escraw account,cir y �
<br /> � . , •� - �•erifying the Fscmw Items,vnless Lender pays Borrower interest un the Fureds and applicable law permits Lender to make su�
<br /> ' . a charge. However, t.ender may require Borrower to pay a one-time charge for an independent r�al etitate t�reporting�ervi• • .
<br /> � .� • used by Lender in connection with this laan. unless applicable law pravides utherwise. Unless an agreement is �ade o •
<br /> '" , '� � ' appGcable law r2quires interesi to be paid.Lender shap not be required to pay Borroa•er any intere;t or earnings on the Funds.� , ,
<br /> ' ` Borrower and Lender may agree in wrid�g, hawever, that interest shall be paid on the Fundti. Lender shall give to Borrower,� , . •��
<br /> ` ' ` ' withaut eharge. an annua! acwunting of the Funds.showing credits and debits to the Funds and the purpose for which each� � ..
<br /> �� � ` debit to the Funds was made.The�unds are pledged as additional security for ati�ums secured by this Security Instrument. ' �
<br /> ' ' if the Furtds hetd by Lender ezceed the amounts permitted to be held by applicable law.Lender shall account to Borrower� �' `'� ;.;,:,� •
<br /> , � ��� for the excess Funds in acrnrdance with the requirements of appiirable law. If the amoum of the Funds held by Lender at any r�' :,
<br /> �-;c.....-s- time is not sufficient to pay the Escrow Items when due. L.ender may so notify Horroa•er in writing,and,in�uch catie Borruwer � �°
<br /> , -- - shati pay to ixnder the amount necessary to make up the deficien��y. Borsower shall make up the deficiency in no ntore than � -��; -
<br />, � twelve monthly payments.at Lender's sole discretion. ' , �
<br /> ' � ' Upon payment in full of all sums se��ured by this Security Instrument, [.ender shall promptly refund to Borrower any � �'
<br /> • Funds hetd by Lender.If,under paragraph 21.Lender shall acquire or selt the Property. Ixnder.prior to the acquisitian or sale • �
<br /> - - � of the Property.shall appiy any Funds held by Lender at the time of acquisition ur sale as a credit against the sums secured by . .����-��
<br /> -. ' this 5ecurity Instrument. :�=�
<br /> � 3.Apptisation of Payments.Unless appiicable law pmvides otherwise, att payments received by Lender under paragraphs -`.- �
<br /> • 1 and 2 shall be applied: first.ro any prepayment charges due under the Note:secimd, to amonnt�payable under(mragrapb 2: ` "-- -
<br /> ` third.to interest due:tourth.to principal due;anJ last,to any late charges due under the Note. `��`''
<br /> • ': 4.Chatges;LienS. Borrower shall pay all ta�cec,as�sments,charges. fines�nd impoaition..attrihutahle to[he Property '{ "'�,�'� :
<br /> , which may attain priority ��ver this Security Instrument, and leasehold payrr�ents or graund rents, if any. Borrower shall pay - •�:=`:;`_�.;.,K
<br /> . ' these obligations in the manner pravided in paragraph 2,or if not paid in that manner.Bnrrower shall pay them on time dirertly ' • , ; "�:�:
<br /> ' � ui the persnn owed payment. Bonower shall prompdy furnish to Lender a11 natices a(amounts to be p;iid under this paragraph. ` —
<br /> i If Borrower malces these payments directly,Borrower shall promptly furnish to Lender receipts evidencing the payments. —_
<br /> . , ' - j Borrower shall promptly discharge any lien+uhich has priority uver this Security[nstrument unless Borrower.(a)agrees in _ i'' -` :��""�
<br /> ' ��.� wri[ing to the payment of the abligation+ecured by the lien in a manner acceptable to Lender.(b)contesGs in good faith the lien _ ' �,,:�,;__
<br /> � 'a b}•. or defends agaitttit enforcement of the tien in. legal proceedings which in the l.ender's opinion operate to prevent the �, _ ;%�,
<br /> " -� .:'.; enForcement of the lien;or Icl secures from the holder of the licn an abreement satisfactory to Lende�subnr3inating the lien to ,";.`°.-���.
<br /> „ '..;� this Security Instrument. If Lender determines that any part nf the Property is suhject[�a lien whirh may attain priority over " .
<br /> � . :,, thi�Security instrument. Lender may give Bosrower a notice ideniifying the lien. Borrower shall satisfy the lien or[ake one or "- ��"-`
<br /> � � � ' more af the actions set forth above within !0 days of the giving of notice. �' '��'�='f�
<br /> .; �'`�`:��`:,.
<br /> _ ' '� r 5. Harard or Property insurance. Borrower shall keep the improvements now exi�ting or herenfter ercxted on the : :z•� ���•
<br /> .� . . . '.'� ,... 'l�A._—.�.-._.
<br /> Praperry iacurc;d against toss by fire, hazards inctuded within the term "extended coverage" and arry other hazards, including �.,i�--,.�--3,;
<br /> floods or flaoding,for which Lende�requires insurance. This insurance shall be maintained in the amountti and for the periods • • ._.�,
<br /> " " � ihat l.ender requires. The insurance carrier providing the insurancr,hall he chmen hy Borrower sui�ject t��I.ender'ti approval � . ; �"�'
<br />- ' which shall not be unrea.wnably withhetd. If Borrower fails to maintain coverage described above. Lender may.ai l.ender's • � '��.'
<br /> . ' e�ption.obtain coo•erage to protect Lender s nghts in the Property in accordance with Qaragraph 7. _—
<br /> '. • .f All insurancc policies and renewals shall be acceptable to Lender and shall include a standard mongage clause. Lender , ' f;��
<br /> . '. . � ,hall have[he right to hold the policics and renewals.If Lender requires.Borrower shall prompily give to Lender alf receipts of _ _-
<br /> . • �s paid premiums and renewal notices. In the event of losy, Borrower shall give prompt notice ro the insurance carrier and I.ender. ��` :��:
<br /> Lender may make proof of loss if not madr promptly by Borrower. � ��k�
<br /> � • � �s Unlesti Ixnder and Bnrrnx�er oiherwi,e:tgree in writing,insurance proceeds shall be applied to retitaranun or repair of the �:.""'�:
<br /> � Propeny damaged.if the r��storation or repair i�eranomically feasihle and Lt:nder'+security i+nat le�tienul. If the reytoration or � •-'°
<br /> % " , - repair is not economically Crasibte or Lender'ti,ecurity wuutJ be I�w,ened.the imurance pruceed�,h•rll bc applieJ tu the sums ' � • � •�.�::�s':
<br /> �ecureJ by this Security In+trument, whether or not then duc. with any exce+ti paid to Borrower. If Borrower abandons the -�.;,�,
<br />: Property. or does not amwer��•ithin 30 day.a nutice frnm Lendcr that the intiuranc�c.•urier ha+oft'ered to,eule a claim,then -
<br /> l.ender may collcct the in.urance pnueul�. Lender may we the pruceul. to repair or re�ture the Property o� ta pay sun�, � `
<br /> ' � xcured by thi�Security lntitrument,whether or not[hen duc.The 30-day period�vill begin when the notice is given. ,' :���
<br /> f Unless Lendcr and Borco�;er otherwisc agree in writing. any application <►f procecd+ to principa! shall nat extend or = .
<br /> � pu+tpune the due dute uf the munthly paya�cniti rcfcrrcJ tu in paragrapiu 1 and 2 ur changc the:unount of the paymenGti. li , .' � `.�,,;.,
<br /> . under paragraph 21 the Propeny iti acqwred hy lxnder. enrrower'ti right to uny intiurance pnlicie�and praceed�resulting from , • _�,,,
<br /> damage to[he Propeny prior to the acqui.tiition yhall p;�.tis to l.ender[o the extem of the sums secured by this Security lnstrument ='���.
<br /> ' immcdiately prior to thc acyuisition. . •r,,. :
<br /> � a 6.Occupancy.Preservation.Maintenance and Protectton of the Property; Barro�cer's I.oan Application;I.qseholds. '
<br /> �. &�rrower shall occupy.etitabli�h,and use the Pmperty as Barro�vcr's principal residence within�ixty day�after ihe exerution of ' : .
<br /> � ,� , � this Sccurity Intitrumcnt anJ yhall continuc to occupy thr Property a�Borrnwcr'� principal rc�idcncc for at lcatit onc y�:ar aticr ' _ .
<br /> . . . ' thr Jatc uf uccupanry, unlc�� Iwndci uthrnvitic agrcc+ in wriling, which comcm til�all not bc unreawnably withhcld. ��r unlcss '
<br /> , • . . extenuating circumstancc� rxitit which are bcyond Borr�nver'. contr<�I. B��rrower .hall not dctitroy, damage or impair the • .
<br /> '�. . Property. aUow tlie Pr��prriy u�dcteriorate. ur r��mmit watite �m thc Pr��perty. Bunuwer tihall hc in dcfault if any forfciturc . . �.
<br /> actiun or praccecfing, whrthcr civil ��r criminal. i� bcgun that in l.cndcr'�L�wJ t:�ith iudgmcnt could re�ult in forfciturc of ahc ,
<br /> Pruperty or othenviu materia;ly impair the lien crc�tal by this Security In�truu�em ��r t.ender'ti recurity intere�t. Borcuwer may . • '. .
<br /> cure+uch a default and reintitatr.a.pnwideJ in paragraph 1 R,by cautiing the artion or pruceeding to he Jitimiti,ed�vith a ruling .
<br /> � that, in Ixnder'� giiod faith detrrminati�m, precludc+ ti�rfeiture ��(Ihe E3urrowrr'� intere�t in the F'roperty ur other material •
<br /> , • impainncm uf thc Gcn rrcatcd hy Ihiti Sccurity Imtrumrm ur I.c�nJrr'ti urunty imcnwt. B��rnnvcr ,hall ati�i� fn in dcfxult if �
<br /> •i 9orro�scr. during thc br.�n apphr.wun pn�cc.ti.�:rvc matcrially fahe or inaccuratc intunnatian nr�tatcmcntti ru t.cndcr(��r faitc�l -. •• .
<br /> , � t�,pr�,vidc I.rnilcr wrih any matcnal inturmaunn�in c�mncctiun �vith thc lu�n csidc�ucJ hy thc N��IC. incluJing.but nut limitod . , : .
<br /> � w. reprcticntatiun.cnnccming Hurru�vcr',uc..upanry uf thr Prnperly��a pnncipal re+idcn�c. II'thiti Sccurily Imtrumrnt i,un a �� .
<br /> � Ica�chuld. Hurr�nccr �hall cumply u•uh aU thr pruvi�inn� o( Ihc Iw+c. li' 8urrowrr arquirr, icc tillc t�� thc Property. thc .
<br /> � Ica.ch��1J anJ Ihc fcc titic tihall nut m4rgc unlr•�Lcndcr a�rcc,t�,thc mcr��r in writing. . . : •
<br /> . . 7.Prntei.linn of I.ender's Ri�hty in tfie f'roperty. If Aorr��wer failti tn prrti�rm thr cuvenant�and a�;reement�cont:uned in '
<br /> thi� Sccurity Imtrununt. or thcrc i� a Ic�:al prncculm�, th.it ma�• .ignificanQy;dfcct lxndcr'�right. in thc Pr�,pcny (�uch a�a • �
<br /> . . prncrrJing m hankruptcy. pn,batc. t��r c�+ndrmnatiun or li,rlciturc ur tu cnli�rcr laa��u rcgulati�m.�. thrn IAndcr may du and ' � � . .
<br /> p.i�� li�r «hatcvrr i� nccc�tiary tn pmtrct thr valuc o(thr f'roperty ancJ l.�ncicr'� ri�;ht, in tltc 1'roprrty. l.cndcr'�acti�m.may • .
<br /> .. mcluilr paying any .tun� �rcurcd hy :i lirn ++hich ha. pnoriry uvcr Ih�. Srcurity Instrumrm. .ippc��ring in �uurt. payi»g .
<br /> . rr.i�nn,ible att��mey�' fec�and entcnn�,un Ihc t������ny� e���„dti� repair.. Ahli+�u�.:h Lcnder ntay tal�c.�ctiun undcr thi+paragraph
<br />. � 7, j.l�Il�Ci t�UC�ttul�111�C 1��1���ti��. . .
<br /> An) am��unt� di,hur�rd hy l.�ndcr unilcr thn p:�ragraph 7 .h.�ll bc.�,mr .ulihl�unal dcht +�I F3orr„wcr .ccurrJ by thi. � .
<br /> , tircurily In�ttwncnt. Unlc., 13urra��rr and I.cndrr arrre tu ullicr trrnn uf paynirm. Ibo,r atm�nnt, ,h�Jl hcar intrrc+t from Ihr
<br /> i d.�tr ��f di.hur�cment :d N�c tiulr r:ur :md ,hall hr p:iyahlc. wuh intcrr•t. upnn n�mrr Irnm I.rn�lrr In R„rrna•cr r�yur+ting
<br /> � � � �.�,�„�„�. . .
<br /> S. ♦l��ri�!a�c ln�urancc. It Lrudcr rci�uired mnrtLagc m.urancc a�a cund�u��n ut ���a6in�: thr I�r,i��.rcurrd hy ��i� ticruriry
<br /> . . � In,truuicnt. H�,ttnwcr .1r.dl p:n •';r prrm�urm rcyutrcd t�� tn.iint.iin thr m„rtcat�r in�t::�nrr in rttrrt- H. t�tt :uty r�awn. thc
<br /> ' � ,nnrlr.iei imur.in�r cncrr.�^r r_•y::ir,d ht l.�nd�r lap,�.�rt rca,i� h�h� In clfc�L l;��rrrnsrr .h.ill �.�� �hr rrrtnu�ni.r�yturcd lu
<br /> ' � ' ��ht.un :mr�:�_c �uh,lanualh ryur..,.rm U, ;:�. ;n�,�ta�:r in.ur:ntcc prevu�i..ly m c�t�•�I. .0 .i ii+.t ,uF.�.ml�alh r��uicalcnl lu ih� � .
<br /> ` • ., �q,t rn Hnrrnnrr ��t the muit:a_: in.ur.�nr� ��rr��uu,l� in rltrct. trnm .m :�Ikrn:dr mnrt�a�r in,urE•r:ipPr��ccd hy I.tndri. If .
<br /> . . . �
<br /> - - . r--r •_-.
<br />_ . � � Form 3028 9%90 �
<br /> • F
<br /> .. I .
<br /> �
<br /> � ' ; �'-..'_'T=.'-,—: -_"___
<br /> .r;E_ � .. . , �. �� „�, _ . 1 i- . .. .. .#r`. �. .. . . � �. . ' . ' , � ..
<br /> �. . ._... . . , .. . . ... . •
<br /> -- . � . -.. . .. .�_. . . . . ._. , � . .
<br /> _ _- � . r .. � �--�� �.
<br /> . _ —�- ....�r_ ; .. � .,•• • .
<br />
|