|
. ... . .. , . . _ . E . . ...�..
<br /> .__��:_:_._..___.�. . . , --.
<br /> I � ents now or hereafter erected on the properiy. and ali easements. appurtenances, and � ; . ' � , - __
<br /> • TOGETh{ER WITH all the improvem Instrument ' � �;�-
<br /> fixlures now or h�eafter a part of the propeRy.All replacements end additions shaU also be coverea b�this Securrty , ,
<br /> � Ail of the toregoir.g fs referred to m th�s Seartty�nstrument as the'Property.' ` . --
<br /> `'i �—
<br /> � BORROWER COVENANTS that 6orrower �s �awfully seized ot ihe estate hereby conveyed ano has the nght to grant and , ' -_:'
<br /> canvey the Roperty and that the Property �s unencumbered. excePt tor encumbranCes of reCOrd Bortower wartants and wdl �' - .�
<br /> 1 tlefend generalty the tiUe to the P�rop��'ty a9�����s and demands.subject to any enwmbrances ot recortl ' =
<br /> THIS SECUHITY INSIRUMENT combines unitom: covenants for nationai use and non-undortn covenants wtth limded ; �.�
<br /> � vanations by�urisdicUon to constiwte a urt:form security msUument coveong real properry. t � � ��
<br />` s UNIFORM COVENANTS. Bortower and Lender cavenant and agree as foilows: e when . -
<br /> � .t_z_""
<br /> � 1. Payment of Prtncipal and Interest: Prepaymee� and Late Charges. Boaower snau p�omQtiy P y � � . ( —
<br /> • � due the prindpal of and interest on the de�t evidenced by the Note and any prepayment and late charges due under the Note ' , ,a
<br /> 2. F�ae�ds for Taxes and Insuranee. sutjecc to applicable Iaw or to a wtdten waiver by lender. Borrower shall Pay �
<br /> I to Lender on the day monthly payments are due under the Note. u�til the Note is paid m tull, a sum ('Funds')tor i�a QeadY i
<br /> , •�,
<br /> � taxes and auessments which may attaln priority over this Security insVUment as a lien on the Properry. (b) yearly },� f
<br /> d an c hazard or property insurance prem�ums: (d) yearly flood msurance � (, ,
<br /> payments or ground rents on the Property� Y ( � y� sums payable by Bortower to Lender m acco►dance j- _ _ __
<br /> ; ea mort a e insurance premiums.H any:and(0 anY `' - ` ..�
<br /> _ =•i premiums. i�any: (e) Y r►Y 9 9 � � • �.
<br /> � wRh the p�visions of paragraPfi B. in lieu of the payment of moRgage insurance p�emiums- lhese Rems are cal�ed �Esa°w � � ' ;
<br /> ' ttems." Lender may, at any time, collect and hald Funds in an amount not to ezceed the mawmum amount a lender for a � �-
<br /> �� tederaity re�ated moRgage Ioan may require tor Borrowers esaow account under the federal Real Estate SetUement Procedures .- �
<br /> ' Act of 1974 as amended from time to time,12 U.S.C.�2601 et seq- ('RESPA'). unless another law that appties to the Funds � _YY
<br /> - - sets a Iesser amounL ii 50. ��s�e: m.ay.at any!ime• �o���and hold Funds in an arnount not to exceed th�e�ess�oa�►���c .-- - :•¢�R,_
<br /> � [' '- ; ----
<br /> f Lender may estimate the amount of Funds dus on the basis of cuaent daffi and reasottable esUmstes of exp =,t.�_,
<br /> '.� Escrow items or othenMSe in accordance with appiicable law• mdudin = _-
<br /> • The Funds shall be held in an institution whosF�dep�osHome Loan Bank.a Lender shail app�he Futnd torpay�the Esaow • - '_-_��=�-_
<br /> Lender, 'rf Lender is such an �nstitution) or in anY � • ,�:"; __
<br /> ' Items- Lender may not charge Bortower tor holding and apply�n9 the funds, ennualty analyiin9 the esaow account.or veritying
<br /> / ; the Esuow Items, unless Lender pays Borrower interest on the Funds and appGcable Iaw Pertnrts Lender to make such a �x "
<br /> . , charge. However. Lender may require Bartower to PaY a one�time charge for an �ndependent real estate tax reporting service .���,
<br /> used hy Lender in conaecdon with this Ioan. unless appiicable law provides othenvise. Unless an agreement is made or ;`
<br /> } applicable Iaw requires interest to be paid Lender shaU not be required to pay Borto�ver any interest or eamings on the Funds. �`:��l
<br /> .� �,�.
<br /> ; ; Bosrower and Lender may agree in writing. however, that mterest shal! be paid on the funds. Lender shaose fortwe h eac� i �
<br /> aedits and dabits to the Funds and the purp �"s.__^
<br /> wdhout eharge, an annaal accounttng of the Funds. showing tor all sums secured by the Securiry Inshume�t -ec;- ._;_.�
<br /> .;� debit to the Funds was made. The Funds ere pledged as additiona!securily i__�. �'' � � .• : -:---
<br /> � `�9�Y,�. -
<br /> tf the Funds held by Lender exceed the amounts pettnitted to be heid by applicable law, L.ender sha11 account to Bortower l J_
<br /> t o r the exCess Funds in accordance with the requirements ot apP�icable law. It the amount of the Funds heid by Lender at any ,�� �_ e
<br /> .`" time is not sufficfent to pay the Escrow I tems w hen d u e. L e n d e r m a y s o n o ti l y B o rt o w e r in writin g,and in such case Borrower y
<br /> shap pay to Lender the amount necessaN to ma1�e up the defldency Bonower shaU make up the deflciency in no more than :_�
<br /> • tweNe monthly payments.at Lender's so!e discretion. retund to Bortower any Funds _. _ _.
<br /> � Upon payment in fuN of all sums secured by tfiis Security InsWma�t Lender shali promptiy � „�
<br /> held by Lender. If, under paragraph 27,Lender shall acquire or seil the Property. Lender, prior to the acquisition or sale of the , �--i.
<br /> - Id b Lender at the time ot acquisi�on or sale as a credit against the sums secured by this 91. ,� '.. .-��
<br /> . properry• shall aPP�Y a�Y runds he y �- •t•5
<br /> Securiry Instrumant. �� �
<br /> �;_�ii g, qpplication Of Peytn011$S. Unless applicable law pro�:�2s othervvise. a�i payments �e^.•eived by Lender under
<br /> : ;a paraqmphs 1 and 2 shali be applled: f,st.to any prepayment charges�ue under the Note: seconsl.:a amounts payable under _.,, :: "i:
<br /> paragraph 2; third,to interest due:fourth,to p�incipal due; and last,to any late charges due under the Note. �
<br /> 4. ChaPges; Uet1s. Borrower shall pay ali taxes, assessments. charges. fines and imposiUons attributable to the �;. �. �=�J;t;tj:, ��
<br /> Property whieh may attain�dority over this�ewrity Instrument,and leasehold payments or ground rents, if any. @:.TOwer shail , 9� , P• �
<br /> t-'-
<br /> pay these obligaUons in th�°manner provided in parag�aph�. �mish to aiLendeh all notices of�mountsh o'be psi:under tthis �� l�E '•_ I
<br /> .a�,: .
<br /> directly to tks perso� awed PaYment BoROwer shall promptly _
<br /> .._,�..;J paragraph. ?` Borrower makes these payments directy. Bortower stri: promptty fumish to Lender receipts evtdendng tkn "'iy; � ' ,
<br /> payments. °�� .; .��
<br /> . 'i. . `'�y:�.
<br /> Borrower shall promD:'y dscharge any 13en which has pdaritY over this Security Insbumen t un less B o R O w e r. i a) a g r e e s L� r
<br /> � writfig to the payment o?:'�e obligaUon sewred by the lien in a manner acceptable to l.ender. (b) contests In good faith the � ': �,_`_
<br /> Iien by, or detends aga;:�st enforcement of the tien in. legal proceedings which in the Lenders opinion ope►ate to prevent the :�K
<br /> '7��R����-``
<br /> entorcement of the Ilen: or(c) secures from the holder ot the lien an agrei mgubj�oaaoie^twhich mayuattaUinprlo�yrh Yei�th�s �°` �—
<br /> � this Security Instrument. It Lender detennines that any paR of the Property '�?,;;••��--
<br /> � 9ecurity Inst�ument, Lender may give 8orrower a notice identifying the lien.Borrower shall satlsty tfie 8en or take one or more of '��: .,�_-�
<br /> ��c'_:?�'�._
<br /> � the actions set forth ebove wfthin 10 days of the giving of noUce. - _
<br /> 5. Hazard or Proparty Insurance.Borrower shali keep the improveme�ts now existing or hereafter erected on the �'��:'"
<br /> � Property Nsured against !oss by ftre. he�ards inGuded within the tertn °extended coverage° and any other ha.�.-'�s. induding .� ,� „
<br /> floods or tlooding,for which Lender requires insurance. This insurence �hail be malntafned In the amounts and���the pedods '_-i��_�n•,
<br /> that Lender requires. The insurance cartier providing the insurance shall be chosen by Borrower subJect to Lender's approvaf , __
<br /> wfitch shall not be unreasonably withFe�d. If Bortowet fails to mai�tain covemge described above, Lender may. at Lender's �'���a� :s�
<br /> • option. obtain cove►age to pro t e c t L e n d e r's r i g h t s i n t h e P r o p e r l y (n a���rdance wfth paragraph 7.
<br /> . ..�3���.,...-�-:
<br /> All inwrance policiss and renewals shall be ecceptable to Lender and shatl irtciude a standard mortgage Gause. L en der
<br /> � shall have the dght to 1��:�the policies and renewals. If Lender requires,Bonower s`�ail promptty give to Lender all receipts ot _.-.- .. -
<br /> pald prem:ums and rer����l notices. In the eve�t of loss. Bortower shali gNe prore.�: noUce to the insurance cartfer and Lender. _ ,��T'�� �.
<br /> - Lender R;T make proo9 of loss if not made promplN by Borrower.
<br /> Untess Lender and BoROwer othenvise agree in wdting, insurence proceeds shall be appliod to restoraUon or repair of the :
<br /> � PropeRy damaged, H ti�e restoraUon or repair is economicalty feasble and Lender's security is not lessened.if the���t e�sums
<br /> repah is not eeonom:r.z:'.y feasibte or Lender's securiry would be lessened,the InsurG.�ce proceads shali be app . . �.
<br /> . secured by this Sec�:r..y Instrument, whether or not then due, wilh any excass paid to Bortower. If Bortower abandons the
<br />� Property,or does not answer within 30 days a notice from Lender that the insurance c�rrler has oHered to s�'_e a c!aim.then . ��
<br /> Lender rc.ay collect the iosurance proceeds. Lender may use the proceederiod wilebe�in whenthe no ice 19 giveno pay sums
<br /> � secured by this Secudry Inst►ument,whether or not then due. The 3^.Cay p 9 . ___
<br /> � Unless Lender and Bortower olherwise agree in wriling, any application ot proceeds to principal shail not extend or .
<br /> postpone the due dz2e of the monthly payments referted to in paragraPhs i and 2 or change the amount of the payments. if —
<br /> � � under paragrePh 21 thz Property is acquired by Lender. 8orrowers ►ight to any irsurance poGdes and proceeds resulUng hom
<br /> damage to the Property prior to the acquisition shall pass to Lender to tfie exc.e:t ot the sums by this Security Instrument
<br /> immediately pdor to the acquisition. �
<br /> 6. Oacupancy, Presen+ation, Mai�enanco and Protectlon of the Proparty; Borrower's Loan .
<br /> , �lpplication; Leasehotds. Botrower shaii occupy. establish,and use tha Proparty as Borrcriers pr�+��� rasidence within _
<br /> sixty days after the execution of this Security Instrument a.nd shall continue to occupy the Property as Borrower's prinGpal
<br /> residence for at least one year after the date of occupancy. untess Lender otherw�se agrees in writing. which consent shall not
<br />� � be unnasonably withheld. or unless extenuating clrcumstances ewst wh�ch are beyond Borcower's control. Borcower shalt�ot
<br /> desiroy,damage or impair the Propetry. allow the Properiy to detertorate,or commit waste on the Property.Borrower shall be in ��-'
<br /> delauft il any foAeiture acdon or proceedng. whether civil or criminal,is begun that in Lender's good faith judgme�t could result _
<br /> in}orteAura of thc Propefi/oc otherw.+se maled�!!y imp2ir tha iiPn r.reated by this Security Instrument or Lender's security interest i .
<br /> � . '
<br /> 1i a.,4F t ,f s [�[-�+('°��..�_� `�!'_,.
<br /> -�fth-:�AG i��9�� `
<br /> I � •
<br /> . -: 1 . .._. ... . . _.. _
<br /> ' � �6/71 .. �._
<br /> . .� , . . ... .. . . . . •-n—_. . . . ._ ..,._. .�� . ' .
<br /> . ' .'__ . __ - 4' ..�_.:-�•
<br /> : . _._..."'' • ' ' •• �^ '
<br />. _�,,.�,�� •__ ..: .�, "' " . _ ' �. . . . . • - . . .. .. . � --r+�-��—�_�...•...,._,._,�� ' .
<br /> _ ' . .. _ �.. ' • " � .. . .. •. • � • . , • ''i. '�. . � � .. � . . •. ' �. a . . • • .� . ' . . . . ` . . ..,�.
<br />
|