|
. . . . r.�,�. ,
<br /> . , . . . . . , . . . ...�� -
<br /> � �'-= -- = - - . . - -- —
<br /> „ : ----�`�r.:---- - - ' - `-=" -- .. - - -- --- - .. .- -
<br /> � .. _ _
<br /> TOGETFIER WITH ali the improvements now or her�fter erected on the properiy. and all easements. appurtenances, and � , •• �;
<br /> fuctures now or hereafter a part of the property.Ali replacements and add�b'ons shall also be covered by this Securtty tnstrument. _
<br /> �? A!I of the toregoing�s referred to in this Security Inst�vment as the 'Property.' , • '
<br /> � BORAOWER COVENAMTS that Borrower is law(u11y seized ot the estate hereby conveyed and has the nght to grant and G,
<br /> � convey t he P rop e A y a n d t h a t the P►o pe t t y is unencumbered. except tor encumbrances of record. Bortower warrants and will . " �
<br /> detend generelly the title to the Properry agalnst alI da�ms and demand5,subject to any encumbrances of record. !` ,
<br /> '� THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants wrth Iimited� � , . . � f.•;-
<br /> variaUons by jurisdiction to constitute a unitortn security instrument covering real properry
<br /> 1 UNIFORM COVENANTS. 8orrower and Lender covenant and agree as follows-
<br /> 1. Payment of Principal and Interes� Prepayment and Late Chazges. Bortower shall promptly pay when �
<br /> due the principal of and fnterest on the debt evidenced by the Note and any prePaYment and late charges due under the Note � _
<br /> 2. Funds for Taxes and Insurance.Sub�ect to app�icable law or to a written waiver by Lender, Borrower shalf pay , � ,
<br /> " to Lender on the day monthty payments are due under the Note. unti► the Note i� paid m tull. a sum ('Funds') for. (a)yearly , ��
<br /> taxes acsd assessments which may alfain priority over this Security Instrument as a lien on the Property: ib) Yea„Y leasehold� —
<br />� � hazard or ro e insurance premiums: (� yeadY flaad nisarance V _.
<br /> paymenis or ground rents on the Praperty. 'rf any: (c) yeary P P �'h � (� , ,
<br /> premiums,it any: (e) yearly moRgage insurance premiums.'rf anY and(Q anY sums payable by Bortower to Lender in accordance� �
<br /> h 8. in lieu ot the payment of mortgage insurance premiums. These items are called 'Escrow� <f.�'
<br /> with the provisions ot paragraA �
<br /> Items.' Lender may, ai any time. co�lect and hold Funds in an amount not to exceed the maximum amount a lender for a
<br /> tede�al{y related moRgage loan may requlre tor 8orrower's esaow account under the federal Real Estate SeClement Procedures
<br /> Act of 1974 as emended irom tlme to time. 12 U.S.C. �2801 et seq• ('RESPA°), unless anothel law that appfies to the funds . .
<br /> sets a tesser amount H so. Lender may. at any time, callect and hold Funds in an amount not to exceed the lesser amount. .
<br /> Lender may estimate the amount of Funds due on the basis ot curtent data and reasonahle estimates of expenditures of future , . . _4(�,
<br /> Esaow ltems or othervrise m accordance with applicable law �
<br /> The Funds shall be held in an institution whose deposds are Ensured by a tederal agency, insVumentaliry. or enUty (induding .. _;,;,__
<br /> Lender. if Lender is such an institution) or in any Federal Home Loan Bank. Lender shall appty the Funds to pay the Esaow _ :��
<br /> ftems. Lender may not cfisrge Cio+ro:ver tor holcGng and apptying the Funds, annualry analyting the escrow accaunt, or verifying :5,".�._ . _,_'�..;.�
<br /> ` the Esctow Items, unless Lender Pays Borrower interest on the Funds and applicable !aw pertnits Lender to make such a ; � `�:,�-��.
<br /> � r uire Borrower to pay a on�Ume charge for an independent real estate tax repoRing service " , ,
<br /> charge. However, Lender may eq .
<br /> ' used by Lender in connecUon with th(s �oen, unless appGcable law provides othemise. U�less an agreement is made or F . ,� _
<br /> •.i �plicable Iaw requ'aes interes: to be pald, Lende►shalt not be required to pay Borrower any interest or eamings on the funds. - , . =�T�-
<br /> 5nrrower and Lender may ag�ee In writing, however, that interest shall be paid on the Funds. LendEr shail give to B9mower. . ���`� __
<br /> H:.hout charge, an annua!accounNng of the Funds, showfng credits and debits to the Fun�s and the purpase for�vh�ah each �..,.;�
<br /> ' debit to 1he Funds was made. The Funds are pledged as addRianal security for all sums sewred by the Security Instrument - •- �= --��„��_;�•�
<br /> � If the Funds held by Lender exceed the amounts pertnitted to be hetd by applicable Iaw• Lender shall account to Borrower �s
<br /> ��,,� '
<br />.�� � for the excess Funds In accordance with the requirements of applicable law. If the amount of the Funds held by Lender at eny �,
<br /> Ume Is not suffident to pay the Escrow Items when due, Lender may so notify Borrower in writing, ariC. in such case 8ortewer �. ��'�:'.-�'�
<br /> shalt pay to Lender the amount neeessary to make uP tho deflciency. Borrower shall mafce up the deficfency in no more than 3,.�`�s�s •�
<br /> , twelve monthly payments.et Lender's sole disaetion. - . = `�I �
<br /> '= Upon paymenL in fuU ot a41 sums secureQ by this Securily Instrument. Lender shall promptty refund to Borrower any Funds ..,�. ��•. 1�• .�
<br /> . # held by Lender. If.under parag�aPh 21.Lender shall acquire or sell the Property. Lender,prior to the acquisiUon or sale of the `�
<br /> � Property. shall apply any Funds held by Lender at the tlme ot acquisiGon or sale as a credit against the sums secured by this : � , • z< <,. ;�
<br /> : ? : ��f ' -�
<br /> Secwity Instrument . __ ,
<br /> 3. Appltcation of �ayrr�ents. Unless applicable law pravides otherwise, all payments receNed by Lender under
<br /> j pa.�greptts 1 and 2 shall be applied: flrst.to any prepayment charges due under the Note: second, to amounts payable under ::.1�` � � ,�� � �
<br /> ' '.t paragraph 2:thlyd,to interest due: fourth.to principal due; and Iast,to any late charges due under the Note. �'. � .� T�; + ;„�...
<br /> � � 4. Charges; L.18115. BoROwer shaU pay all taxes. assessments, charges, fines and imposNons attributable to the • ryY:, �,+
<br /> � k Properry which may attaln pdority ovw this Securfty Instrumen� and leasehold payments or ground rerrts.A any. BoROwer shall . `;;� —
<br /> pay these obligations in the menner provid�d in paragraph 2, or if not pald in that manner, Bortower shaU pay them on Uma � :�'� . �� • 'f�.
<br /> dIrectly to the person owed payment Borrower shafl promptly
<br /> tumish to Lender all noUces of amounts to be pald under this '�'•�-�- - =�� —
<br /> , +;.t
<br /> pata�aph. tf 8orrower makes these payments direcUy. Borrower shall prompUy fumtsh to Lender recefpts evideodng the '�"��� � ,,.,��r:
<br /> '. payments. .'•f: ;,—'��'
<br /> :> Bortower shall prompUy discharge any lien which has priority over this Security fnstrument unless 9oaower. (a) agrees in 'L..;�'._ �
<br /> 'j wrtUng to the payment oi the obBgaUon secured by the lien in a manner acceptable to leader. (b) coatests in good takh the w ..� :��.y:�;
<br /> ., � .•�
<br /> lien by, ar defends agalnst entorcement o1 the lien In, legal proceedings whlch in the Lender's opinion operate to prevent the �_
<br /> enforcement of the Ilen; or(c) secures from the holder of the lien an agreement satlsfactory to Lender subordinaUng the lien to f�:�_ �,
<br /> thls Securiry Instrument.II Lender determines that any paR of the PropeRy is subject to a Ifen whlch may atta(n pdority o�er thls .-���.-�_
<br /> -.�-:-ia�,�:�.=.n�-
<br /> S2curity InsVUmen�Lender may glve Borcower a noUce Identilyting the lien. Bortower shall satis(y the lien or take one or mare of _ ,.
<br />� � the acUons set forth above within 10 days of the giving ot notice. r�-�� � �;
<br /> 5. Ha�d or Proparty Insurance. Borrower shall keep the improvements now exlsUng or hereafter erected on the •�..��.-���+.r `�
<br /> � propeny insured egalnst losa by flre. ha�rds Inctuded wlthln the tertn 'extended coverage' and any o,her ha�ards, fncluding '+-�r-�
<br /> ftoods or flooding.tar whlch Lender requtres insu►ance. Thls insurance shall be maintalned In the amo�nts and tor the perlods y�,,,b,x.
<br /> _ n_ ,_..................ao. ,..,,,,i.�i�,.fhc,inaurance shal1 be chosen bv Bonower subJed to Lender's approval ''"�'}' -
<br /> . i���'_�F��_
<br />- iI18t lender teyuooa �uo o�ou�a................ �.._..�..� -"- - -:-- _. --
<br /> � � whlch shall not be unreasonabty withheld. t1 Borrower falls to matntein coverage described above, Lender may, at Lenders ..yf�4�:
<br /> �� '' opUon,obtaln coverage to protect Lender's dghts in the Property In accordance with paragraph 7. ±�'�(w���•
<br /> All Insurance policles and renewals shall be acceptable to Lender and shall Inctude a stendard mortgage clause. lender
<br /> shall have the dght to hold the pollcies and renewals. If Lender requlres, Borrower shall prompUy give to Lender atl recelpts of • .- �
<br /> . ; , . . .
<br /> � pald premlums and renewaf notfces. In the event ot loss, Bortower shall give prompt no@ce to the insurance cartler and Lender.
<br /> � Lender may make proof of loss if not made prompUy by Bortower. _
<br /> �.; Unless Lender and Borrower othervuise agrea In v�rfUng, insurance proceeds shall be applled to restoratlon or repalr o!the
<br /> - , Property dar.aged,N the restoratlon or repah is economically teasible and Lender's secudty is not lessened. fl the restoration or ., •`'. .
<br /> repalr is noi economlcally feasible or Lender s securUy would be lessened, the Insurance proceeds shall be applied to the sums �.�qF,,,..�•�
<br /> secured by this Security Instrument, whether or not then due, with any excess pald to Bortower. If Bonower abandons the .
<br /> 2 Property, or does not answer wtthln 30 days a noUce hom Lender that tha Insurance carrler has oftered to settle a ctalm, the�
<br /> Lender may collect 1he Insurance procesds. Lender may use the proceeds to repair or restore the Property ot to pay sums �"
<br /> secured by thls Security Instrument,whether or not then due. The 30�day perlod will begln when the notice Is glven. .. �.
<br /> • Unless Lender and Borrower otherwlse agree in wdling. any appticatlon o} proceeds to princlpal shall not extend or _
<br /> . i postpone the due date of the monthly payments referted to in paragrapha 1 and 2 or chenge the amount ot the payments. If ,
<br /> • under parag,rph 21 the Properry is acquired by Lender. 8orrower s dght to eny lnsurance pollcies end proceeds resultlng from , ____
<br /> damage to .�ie Property pdor to the acqulsitlon shall pass to I.ender to the extent o1 the sums by this Security InsUUment �_
<br /> immedlately p�lor to the ecquisiUon. �
<br /> � 6. Occupancy. Presenratlon. Maintenanco and Proiectlon of the Property; Borrower's Loan • . �= `
<br /> � •
<br />
|