|
„: . : =--- , , ;;
<br /> _ .� . . .. -- =- - ------ - . -�
<br /> j __ .__----y- ---- � � � ” � �.: . ,� �_ � `�� '-
<br /> , ,< �r _ _
<br /> • T0C3ETHEA WITH ail the improvements now or hereafter erectetl on the properry. and all easemeats. appurtenances. end �- << _
<br /> fuctures now or hereafter a part of tha property.NI repiacements and additions shall also be covered by this Security �nstrumertt. _ , ,
<br /> All ot the foregoing�s referred to�n this Security Instrument es the"�operty' : ' . �
<br /> BORRQ�WER COVENANTS that Bortower is iaw(ulfy seued of the estate here�y conveyed and has the nght to grant and � , � r
<br /> convey the Property and that the Property is unencumbered. except for encumbrances o7 record. Borrower wartanu ancf r+ilt � _ . `.
<br /> detend generalty the title to the Property agalnst all claims and demands sub�ect to any e+icumbrances af record f. ,
<br /> THIS SECURPfY INSTRUMENT combines unitortn covenanu for national use and non-uniform covenants with t�mrted�
<br /> Y.:
<br /> vanations by jurisdicUon to canstihrte a un'rfortn security inswment covenng real properry � � • s `
<br /> stt t
<br /> UNIFORM COVENANTS. Bortower and Lender covenant and agree as tollows • _
<br /> 1. Payment of Principal and Interest; Prepaymen4 and Late Cha�igaed!ae eearges due u d rntne Noteen� � _.
<br /> due t he principa l o f an d interest on the debt evidenced by the Note and any prepaym n � , . - . ,
<br /> 2. Funds for Taxes anci Insuranee.Sub�ect to applicabie Iaw ar to a written warver by Lender. Barrower shall pa y}.i � .
<br /> to Lender on the day monthly payrments are due under the Pfoie. until the Mote is paid in tull, a sum ('Funds')for. (a) yearfyQ �
<br /> taxes and assessments which may attain priority over this Securi[y Insvtiment as a lien on the PropeRy: (bj yearly leasehol�
<br /> payments or ground rents on the Property. �t eny. (�) Y�Y hamrd or property i�surance premiums; (d)yearly fiood insuranc _
<br /> premiums,if any; (e) yearty mortgage insurance premwms.if any.and(� any sums payable by Borrower to Lender in accordanc�
<br /> with tha provisions of paragraph 8. in Geu oi tfie payment of mortgage insurance premiums. These items are ca��ad 'Escro'`�j
<br /> Hems.' Lender may, at any bme, collect and hold Funds in an a�nuunt not to exceed the mabmum amount a lender for �'" . . .
<br /> federally r�lated mortgage Ioan may require for Borrowers escrow account under the federal Real Estate Settlement Procedures ,
<br /> Act of 1978 as amended from time to tlme. 12 U.S.C.�2801 et seq. ('FiESPA'). unless another !aw that appli�s to the Furtds ,
<br /> sets a lesser amount. If so. Lender may, at any time. coUect and hold Funds in an amount not to exceed the lesser amount.
<br /> Lender may estimate the amount of Funds due on tha basis of curtent dats and reasanable estimates of expenddures of future •
<br /> Escrow Items or othemise in accordance with applicable lavr. , , .
<br /> The Funds shall be held in an institution whose daposits are insured by a federal agency.instrumental'ity, or entity(ncluding , ,
<br /> Lender. rf�ender is such an institution) or in any federal Home Loan Bank. Lender shatl appty the Funds to pay the Esaow � ;. +-' •;_�
<br /> Hems. Lender may nat charge 8orrower for holding and apptying the Funds, annually anatyang the escxow account. or verilying �
<br /> the Escrow Items. unless Lender pays Borrower interest on the Fu�ds and appliceble law permils Lender to make such a ���;,�,
<br /> charge. However. Lender may require Borrower to pay a on�time charge for an Independent real estate tax reporting service . ' r._ `�>i
<br /> - used by Lender in connectian wfth this loan. unless applicable taw provides otherwise. Untess an agreement is made or �`� "�• '.�.
<br />' appficable law requires interest to be paid Lender shall nat be requhed to pay 8ortower any interest ar eamings on ffie Funds. , '•,�-� ':
<br /> � .; Borrower and Lender may agree in writing, howevet. that inte►est shall be paid on the Funds. Lender shall give to 8ortower. , ` _
<br /> wjthput charge, an annual accounUng of the Funds. showing credits and debits to the Funds arsd ihe purpose for which each ^-
<br /> deb3 to the Fun d s was ma de. Th e F u n d s a r e p l e d g e d a s add"Rional secu r i ry for all sums secured by the Security Instrument '; �•.;�-
<br /> It the Funds held 6y Lender exceed the amounts pertnitted to he held by applicabte law. Lender shall account to Bortower ;��-�c_
<br /> for the excess Funds in accordance with the requirements of applicabte law. B the emount of the Funds held by lender at any � + . •- c. _
<br /> Ume is not suffldent to pay the Escrow Items when due, Lender may so notify Bortower in wtit�ng,and, in such case Borrower � �--
<br /> 'i ,,,,, �.
<br /> shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the defidency in no more than , L. f�;;�:j;;
<br /> -`��� MreNe monthty paymants.a!Lender's sole discretion. .. _..�- "��A` ''
<br /> ...c��._�.;',:..
<br /> ' Upon payment in tull of all sums secured by thls Securi2y Instrument, Lender shall prompUy refund to Bortower any Funds =°�::-:-:.� .
<br /> i held by Lender. If, under peragraph 21. Lender shall acquire or sell the Property. Lender.prior to the acquisiUon or sate of the . .��
<br /> Property, shali apply any Funds held by Lender at the time o!acquisition or sale as a credit against the sums secured by this , ' �'�':: ;"?F `
<br /> i - i ;;�.`��
<br /> ; Securtty Instrumen� '. �� i` .
<br /> 3. AppUcation of Payrnents. Unless applicable taw provides othetwlse, all paymeats recefved by L.Pnder under .
<br /> .? paragraphs 1 end 2 shall be applied: first, to sny prepayment charges due under the Note:second, to amounts payable under ���� •�.,.� '.,
<br /> • paragraph 2•tfilyd,to interest due:fourth,to pdncipal dus:end last.to any late chazges due underthe Noie. ,_ r�;� _�>, .�
<br /> 4. Charges; Uana eorrower shall pay all taxes. assessments, charges, fines and impositions attributable to the eF ��
<br /> Property whlch may attain pdorily over this Secu►ity Instrument,and leasehold payments or ground rents.H any. Bortower shall ti�
<br /> - anner rovided In ragraph 2, or H not paid in that manner. Borrower sha0 pay them on tfine ���,���q` .
<br /> pay these obllgaUons in the m p Pe
<br /> � �, directly to the person owed paymenL Borrower shall promptty fumish to Lender aIl noUcea of amounts to be paid under this ` ',:;�� ;�` 4�
<br /> paragraph. It Bortower makes these payments direcUy, Bortower shall prompUy fumish to l.ender receipts evidencing the ?F� S
<br /> payme�ts. �����'r,�.: •`��,� '
<br /> BoROwer shall promptty�ischarge any lien which has pMoriry over this Security Instrument un less Borrower. (a) a g rees In _, •'
<br /> writfng to the payment ot the obligaUon secured by the Ilen in a manner acceptable to Lender. @) contests in good faith the � . � ���
<br /> , flen by, or deter►ds agalnst entorcement of the lien In, legal proceedings which in the Lenders opinlon operate to prevent the ' +:�' �~�;i_
<br /> � •� enforcement ot the lien: or(c) secures hom the hotder of the flen an agreeme�t satisfactory to Lender subordinatl�g the Ilen to ��`
<br /> � th(s 3ecudty InsUument If Lender detertnines thai any part of the Property Is subject to a fien whleh may attaln pdoriry ovu thls �.��"�''*Jj:.
<br /> Security Instrumenl. Lender may gtve Borrower e noUce Identifying the Iien. Bortower shaA saUsty the tien or take one or more of �=�`. « :
<br /> • the actlons set foRh abovo withln 10 days ot the givfng oi noUce.
<br /> 5. Hmzard or Property Insuranee. Bortower shall keep the improvements now existing or hereafter erected on the , '��
<br /> Property Insured against loss by fire, hazards (ncluded within the term 'extended cove►age° and any other haiards, including �._.,,.`;Y.=-��T_=`v
<br /> � floods or tlooding,ior whlch Lender requires insurence. This Insurance shall be malntained ln the amounts and tor the pedods ';"�.;r���_
<br /> ' that Lender requlres. The lnsurance carrier providing the insurance shall be chosen by Bortower subject to Lender's approval �'�''`"�•`,..:::__ ";
<br /> - wh;�.±� shal� aat � ua:r.ssoseabl; wlthheid �f Bonower tails to malntain coverage described above. Lender may,at Lender's . .�.:'-
<br /> ..__.t�.r"'
<br /> opUon,obtaln coverage to protect Lender's dghts in the Properly in accordance wfth paragraph 7. . - '�r�;�
<br /> l�11 fnsurance pollclas and renewals shall be acceptable to Lender and shall Includs a standard mortgage clnuse. Lender .. �r, ... .
<br /> shall have the dght to hotd the pollcles and renewats. It Lender requlres. 8orrower shall prompUy ghre to Lender all recelpts o1 _ •.�
<br /> � pald premlums and renewal notices. In the eve�t ot loss.Bortower shall glve prompt noilce to the Insurance carrier and Lender. .
<br /> Lender may make proof of loss it not made promptly by BoROwer. . . .
<br /> Unless Lender and Bortower otherwtse agree In wrfUng. insuranee proceeds sha�l be applied to restoraUon or repair of the
<br /> r Properry damaged. i1 the restoration or repalr Is economfcally teaslbte and Lender's secudry Is not lessened. If the restoratlon or •' F
<br /> repalr is not economlcally feasible or Lender's secudty woutd be lessened, the insurance proceeds sheli be applied to the sums .
<br /> • secured by this Securlty Instrument, whether or not then due. wfth any excess paid to Bonower. If Bonower abandons the . ,
<br />, Propefly, or does not answer wtthln 30 days a noUce from Lender that the insurance carder has offered to settle a c1alm, then . —
<br /> Lender may collect the Insurance proceeds. Lender may use the proceeds to repalr or restore the Property or to pay sums .
<br /> secured by thls Security Instrument,wheiher or not then due. The 30-day perlod will begln when the notice is glven.
<br /> Unless Lender and Bortower otherwise agree in writing. any app8catton o1 proceeds to p�lndpal shall not extend or
<br /> • postpone the due date ot the monthly payments reterted to in paragrephs t and 2 or change the amount ot the payments. if ,
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's dght to any Insurance polides and proceeds resutting from
<br /> . damage to the Property p�ior to the acquisltion shall pass to Lender to the extent of the sums by this Secunty Instrument
<br /> �mmediatety pdor to the acquisMon. .
<br /> 6. Occupancy, Preservation. Maintenance and Protection o! the Property; Borrower's Loan .. �
<br /> • Appllcation; L.e839f1o1d9. Bortower shall occupy, establish,and use the Property as Bortor+er's prinGpat residence wiihin
<br /> sbcty days after the executlon of this Seadry tnstrument and shall conUnue to occupy the Property as Borrower's pdncipal
<br /> . residence tor at least one year after the dale oi occupancy, unless Lender othenvlse agrees in writing,which consent shalt not , �
<br /> be unreasonabty withheld,or unless extenuating circumstances exist which are beyond Borrowers conhol. Borrower shatl not �
<br /> destroy, damage or Impalr the Property, altow the Property to deteriorete. or commft waste on the Property. Borrower shnll be In
<br /> detault if any torfeiture action or proceeding, whether cNil or criminal. is begun that in Lender's good faitfi Judgment could result ;
<br /> In forfefture of the Property or otherwise materialty impair the lien created by this Security Instrument or Lender's securily interest. : _
<br /> P1316-LM6 rtfS)1 o,�a.1 •�°� �. . . " . —..
<br /> .. .. .
<br /> r
<br /> 1 .
<br /> • � ' � �
<br /> qlttiW �
<br /> i i .
<br /> . . . . � --- ---'...__. - -- � �
<br /> _ _,�.:V,�,y. ._. .-" --. , , � ... , .,.. . 'h. . ..� 1 Y, '.. . ,.�ac' ;' . ...+i.-r;.�� . - .
<br /> .. . .�. • . �. . � . • ` . . .. . � �.�. .. .. _ � . ,. ,. .. . :.�. .. , � , ,
<br />
|