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HomeMy WebLinkAbout0981 ~ . . . ~'3i~1 ; i~0 Ur~~[~oRt~t Ca~•t~~Nrs. Borrnwer and l.cn.irr r~~~enant anJ akr~c :is foll:,wc: ~ 1. Paymrnt of Pirineipat and InteresG li.~rm~~,;r tihall rrum{~tl~ ~ay Nhrn due thr p~~ncipal uf anJ ~ntrrest on the ~ndebtcdncss ~~,d~n~cJ hy th~ ti~~t~, ~rcpsymem a~+.! lat~ ~h:~r~;r. a• rruvi~led in th~ N~~tr. and Ihe prin~ipal uf and intercst on any Futurr :~d~•anrcc ,zcureJ ~h~• th~~ !1f~~rtgabr. 2. Fbnds for Taxes ~nd Insuraace. _Subye~t, io appli~at+lc law or to a writ~cn waiver by Lcnder, Bor~oue~ shalt pay to i.ender th~ ~s~~ month!}• +n~t:;~1ma~~t~ ~f pnn~~pai and intrrec~ a~~c pa~~a#~k und~r thc Note, untif ~hc f~ote it paid ~n full, a sum (herein "f~un~is'l ~qua! to ~~?e-iµelfth uf thc ~~ar1y tares an.l accessmentc which mav :~ita~n pn~~riry over thi~ !~lortgagc, ar,~l ~r~~und rents on thc Pr~•~+cri~~, ~f ;ut~ , plu~ unr-t~.rl(th ~~f ~rh ~+r~muim matallntcnts f~~r ha~:~rd ~murance, plus one~t~eltth uf ~earl)• premium in~tal~m:ntti t~~r nuxt?;a~;e in~urancr. if .in)'. :~II r~a~~,nahh~ r~ti~~i.,tr.1 init~.~ll~ ,inai (rom time t~ t~me h}• l ender on thr ha~i~ 01 a»CS~mm~t~ .~tt~1 hill~ ::n~1 ~~.~ti~~n,~hl~ r,!ini:~lr, thrre~~f. Tl~e i'und~ ~hall ~v: ~c;~! in .~ar inCtittsti~:n thr d~j+.~~~t~ .~r :~c~uurit~ .~t ~•hi.-h .uc irt•ttrc~! ~~r Ru,~r.li~tre~i h~ s FeJeral of st3tr agrnc) ~in~tudin~ Lrnder it I endcr ~urh .~n inshtut~.~n! ! cn~ltr ~h:,ll .,~~~4~ +hr Fu+s~t, tn pay.:i~d ta~e,, a~.ec~ments. insurance.pre?niums apd gn•und r~~tt, 1 enser m.i~ nvt ih~r~;r (~,r h~~l~link .;n~! {~',~~n~ thr (~unJ.. .~~~:il~~ing,aid :~cr:zunt. ~~r vcrifci~tg :inii c~~mrilin~ ~.~~al ati~c«mcntc ancl t,ilh, un!c., I e~titrr ~+a~, (i:~rrou~_r ~ritr+~,t .~r~ thc f~unJ, :~nd :~ppiiiable~law permiti 1_~mlrr t.~ tn.ik~ ,etch :t .harg~. R.~~~.~ti~rr and l~n.ir~ m:~~ .~_~rc~• ~n ~~r.l~ni th~ Unir c~? ~~r~uti~,n uf this \1~~rlgage lh.it intrr~~l .~n l~e FiutJ~ ~h.ilt hc 4~.u~ li:~rn•~~cr. :~n~t uti!c~~ ~u:h .~it~ent~t~t ~S tn:~~1e rf .~prl~c<~hle law rryuire~ such +nter~,t t~~ I.e p.u~f, I•~n+icr ,h.ill ri~~; hr reyi~~rr~l t~~ ti,~rr,~~~rr .:n~ ~nr•,•r~~t r.~rn~ng, ~,n thr 1=und~. I.ender ~hall g~tc t~~ K~~~rt~~~rr, ~~tthc~ut ~h.tr~;c. .~n .~nni~al .s~~~~unt~nk ~~I th~ I un,!, .h.,+~iu~: ~r.~i,ts .~n.l ~irh~t. Io lhc Fundc snd Iht pi~r~,•e t~~r Nh~~h r.ich ~lehit r~, the l uad~ ~,n i:tia.l~ tht 1 u~+.t, .~;r ,Ic,tc~.i .~~t.;:t~,.~e.~`. ,,cunt~ f~•r the .um, ,ccured b~• th~: ~lnrtgagc. 11 the :imo.int ut thc r~~n~s h~ld hy [ cn~icr. t~~LCthcr t~itn thi tui~ir~~ r:t,~nt'~;~ in,t.~~ln:~n~~ ~,f Furi~1~ ~~:~.~bl~ pn~~r to thc Ju~ datr~.~f ~,+~c,, :i,•es.air~it,. }zxur.~n~c rrerni,trn, .~ii~i ~c;~~~n~? i~t,. ,F~al! ~~~i~•~1 fitr .un.~unt reyu~rr~i t~; (~~t ~aid tates, 35SCSttlltfll~, IMUfdfllt (1fl'flllilfll~ .llll~ t,(i~Ut~l~ fltll? .l? !~lC'• '.t~s i~~ii. ~t~~.;l C\.C~v .h.~Il .it I~a~TPJHCf ~ u~It~~II. C11}ltf promptl~• rrpaid to HorroHCr .~r :rrd~tcd t., t3~~rrr•,+rr ~~n n5,~nt!~h ~.^,~~,~Ilmrn~, ,~f I~und•. If thc .+muuot of the I~unds held hy 1 rrtd~•r .hall noI br ,utlicienf to pay t:~~e.. asic,,:nr:+r. ~i~,~,r.:~~:r E~rtm;nnt, :,n~1 ~;rui+n~ ,rnt~ ai thr~ falt due. B~irrou~~r ,h.sll p.i~ t~~ !-es~.ier .~~zy :~m,~:int ne~e.,:~n tr n~,a1.~ i,~ !}ir .1~h:.rn: ::ti~th~n i(1 .1.~~, lr~~m thc uate nut~.e mailed by 1_endcr a> B~~rr„a~r rc~~uc,ting p.i~n~rnt thrrc~~t L~F1l~f1 E?J:l11~I!1 !Il f11~f i~f :1~~ 1?!fli? 1i~lIT~:~ f)~ !f!~~> »~"','.t~:i' ~ i'l~~i( ~I~,1~' ~~f~tiill(~I~~ (CI!~ii~~ ~;:~R~~'.l,'f d(1\~ FURI~i field h~ 1 rn,i~r. 1! und~~ 4~.~ragcdp}t lti h~rr.~t ih~~ i'r„prrt~. ".,~I,1 ,jr ~h~ Pr~•f~crt, u~t;ci•~:,~ ~:rc~i b~~ 1 rndcr. Lcndcr ~hal! :~~~iy. c~.~ l.i:~r t;i.+n :snt~trdi:~tr{~ p~i,,t tr thr -af~ ~.;h~• Yr~~,~rrl~ ir. e:.;~~~~;ti~~n h; I.rntler ;,rt} f=un.i~ held by' LenJrr .,t ttir t~n~c :~E~pli~.~tii~n .t, .rrJi? .~_~a„»t ti,r ~um. .~.ut~.? \1~~r~L: _ 3. :~pplicaiion O~ P81111}OIS. t i~~.~. .~4~~'~1:Jf~!~ i.iL~ ~~t~~.: 't: +,•t;if'.{i•~• .i ~ s`.t\(11C::!~ ~ C~Ili~f llR~l'( the . Ni~[C:~nd }`.~faer:t(+h~ 1.~nd 2 htte~~t ,f~:~tt hr .~f~{+ifr~1 ht• 1 r~.'•r: ti:~~ :r: :.inr~., ~.irn,~~: ~t, i~,r:.~t~l~ t~~ 1~n,Jrr h} B,~rrc~~+ef undc: paragraph hcrcUl. thcn to ,~i~rrr•.~ F,~y:,h;: un thc ~~,+r thcn 1,~ ~hr ~~ri:~.i{~:~! tt~r Y~~~r, an~i th~n tci ir~tere:t an~1 f,r~nc~pa! u~i .~n~' 1=uture Advan,rs. . -1. Chrrkr~: Licn~. I3,~rr.~~ri ~'rw~ii pn~ :,:i !~~r.. ..,•r,•nic~:~~ ,ur.l ,~~hc~ ~h.~~~•.., ti~w~ at:.! ~m~u,ilwm ettr+butable ta [~1C }~iOE7(:Rt~ Nftl~f~ ma}- :~t~.,in :1 ~fiVflly~ ~`~Ct i;i„ ~~i+rii.~i;. .U~~ i~a~~~l.~~.~ ~t,t~Iil~tit? uC ~;lOi+:ii~ i~l~i+, If A~1\'. 1N the manner pru~'sd~.! U(1t~tT.' F~.sragr.iph ? t~~rr~~[ ; f~.~,~1 ;r~ ,~i_~; nz.~r,r; r i~, }i,~r~,~.~ri r~i.,l,inr p~~m~rit. .~hrn dur. ~lirectiy to t:~e pay~ee thrrrof Bnrru«cr .hsli ~:.~mprlr ;:,:+t~•h t,~ 1 e:,,k,- .~tn~,,~nt; ,lur ,~nd~r thi~ ~~~:,,rap},. :,nd in the event ~O~fO~~~C~ e13.t~i f)l:l~l` ~_t\'lT1CI~E l~1te':t~-, ~t~fi~~.ti:~ ~~`.tl~ ~l:e.!If~,t't' h!.'fl!,~l t~, ~Ct:l~i! tt~Cl('[[ C~:C~Ch.iq~; iti:~l r:!}111~t1t5. Horrou~r :hatt pr.~mp~i~• dis.h,i~Ce :in~. [~en ~.~hrt`~ h.+, ti~r;~~t~li :»cr t~~:, ~1~~rtg.~ac: ~~fo~~:c.1. ~It~t Fic~tr,~wzr chal{ not bC ~tc;iHfCII t~~ ~I~~~hara~ .i ip w:}~ lir;i iuns a, f3~~: ~iz.~ m. " ihnr t,~ ~hr pa)ntcnt thc ~•hlrga!t,,r. ;c.~:tired by ~u.h i~rn m.~nn~~ ',ihi~• t:~ ~ _.~~icr . . „x . f5 ~ ,~i ~fefcn~l ~~?',,n~ntrrt ,~f ,~:th lien in. ~C~., 77 (1R~.!'C(jlt', '.~RI:~: ~(~i; •!i ~ ~1T~' i ~ . . . _ . . . . i' . . !~~(iC:. :fi thC ~~:.~4~.rt} . . .~n~ ~dCl ~flt(l'.01. . ~;:173f[I {(1~UfJOfC. ES.~f'~+~.+i~ ~~:.i~i }ii~-~ . ...;t:,_' : , ~~~:.!~l~~ . . ~tCfi.t1l~7 ~il'•_'C~~ .~t'. t~:t f~:.~(:C~I~' If15Uf~~ :iy_;~ii~st I~~cF h, fir~. h,+~;~rS~ in:i;~~lyd `..~!h.n ~i:~ r~!r l,_~ a~~.! ~..h nthCr h.izard~ 1 cn~~r ni~c re.~uite .inci :n s~i~+~ .;muu~~t~ :~n.! tur su.'~ ;~~s~,~.l~ 1~~•:Sr -~•a~;r:.. 3~:. .rdc.L Ih:,t i en~ler .hati rn~t rec{;nr~ tha! :k~t sm~~unt of ~[i~Fi _~1•:Cf.tCi C\.:i:t .,..i: J!:. ..;i! ~ . ~ _ ~ - , ~ . .~i~ f~t .'t ~ti .t;_i ~'I lhe in~~rranir ..~rr;r! j't~~•.i~ti 'itr .n • h~ i{ „r,...: r , :t~,~ ! ~ .lpp:.~..,1 h~ [ en,!~r. pr~,•~ded. that ~u:h appr.,.al .iiali n~~t hc ~~i,~..~-~~~~.,; „ .,~~hnuJ .1ii :,cL.n~u~i. ~n :a.~ir.utir~ p,~!~~~e, •haU h~ ~~i:! ~n th~ m~nner ~ prv~~deel ~:n~~r p~ragr.~~~h ~ hric+~t ~~r. ,t ~~~~t ~.~s.1 .~1 .u.h ni.:nnc*. t,. (S.~rr~~..e~ mak:ng pa}ment. when due. d~rectlv to the ~ i~i,ur.~nce ~arri~r. t j .a~l in;~ren~~ ~~.~li~~e, .~n~i reti~~~.,h th~r;,,r .i~,:i~ ~n ~r~ '~,r:n .~.:r~~t ~~+ir t~~ 1_•~i~!_: .~ncy ~h.~ll rz~l~~de a ~tan.f.ird mongage t itau~e tin f.~c~,; ,~t .rn~i „~ttn .~..~E,~.ti`~i~ t~~ l.cn~i~': 1 ~nil.•r t,.~~c th; n_~?~! hrid the (~.di~~r. ;~n~1 rrnrwah therCOf. :in:l H~rr,~.+rt •},,~t! ~~r.~:t:4~tl'. :,~rnnh t„ l c~tt.i.r .iii t , : ~c:~~t. .~f r:,::1 E,t~m:~.~~:~-. 1r, !h: c:c-nt ~~f to~s. fi~~It. .tt.. ~l~.i~ t~•.i i t~~~ ;i~ ~~ii . _ ! ! _ ! ~r . ..:lC . . ~ . n~.,, ..,.tde ~'.~mptl) ~ by~ Bc~rrc,Hr~ t~nlccs 4 i'i1~CF .tI?t~ B[~ii~~'.\~[ ~`~flCi~i:~C .11'i: , f'ft: _ 1'i~U!.it,,t i- iCC~j~ ~}l.lii ~k .~(lflil~C~ 1(~ re~.i.~rati;~rl fC~dlf Of ~ tht Pmpert~ it.int,:~r:'s. 4~~,~~~:ic:i .t!.li r~.t:~r.t!~.,,. ..,.'il~ tr:~cih~~ :~nti ihC se,i~rily of !`.~i~ 1lnrirage i~ n.~i ~hetc`~~ ~r;j~.r-~:l It ~i_ , ,...~t r. .~r ~t;~... . _ _ ~r . . . .u :t +i;e ,c~~.~rit~ e~f ;~t, \1~~~tt.~ge wuuld bC 1~1)paifCC~. f}:C .it>,.,.1R.i ti~ti::, •fldil f'~ .~E~~~~i~~~ :~iLr~~ ,ii.~ f,l If1~• ~2~`~ly,~i~t Nl1~1 I(1~ ~\~C». 1~ anc. paid !i~ 43~ rr:,L\~~ .t:.~ ~~f.~~'• '1.t.. .~~i,~ iS.. ~~.t~' . . ~ . . ~.tiCi ' ._.i• :1 ~ CS14~i!'A':lfllr ~1) lf:l'.~ !<<,m the ~ ' i~~r ,tc; t3~ •i•_ . . , , .'.'t~,, f,•r ,+ir:in:r ~c~~.?tt.. 1 c:i~cr ~ ~ ,;ftt,. r.ir,i f ~ , .:_•.~t. I ~ ~ c., ;r„ ..,,~~,n ~ . r~~~a~r ~ . ti~~ Pn,~n} ~~r I~~ (h~• ,U~~~ rr.! ' 'tn, \l~~r;<'ikt ~ l: t,.'r.` ~ . .i . !S ~ . S~ , , . , ..L _ 1 , , ~ :l` ;u ^ _ . i,..,l , il' nrt r~tend ~~I[l,,r~ .i ii .t,l~ t~ r~ ,i .t' ~ L( .}l.t ~ ;ii?)~1i471t /lf ~ ~.it,i: , I.t'! . . { ` ~~f ~f S 1 ~ .1 ' . . r 1 . . . ~~i'. :I.i .ifi ~ ' ~ '~I {~~l((~M~( ~ . ~7~ ..111 ' .f(~, ~ . ~ . , ~ ~ c !hi {'C ~+~i f~f l~i IhC ~d1C ~ C{ :1.~{ltl~(l~(rft ' , . ~.i'4;SCf '.tl~~ ~~..,.:i •S , ,.i~. ~ __'1; . . C~~i.l'c:1: t . :Ilfl ~d~C Of . ~ a~:yu«!ti~~n. _ _ 6. Preser~atiuu Und ~l.tint~u~ncr nf Yruper~~: l.rs~ch~,ld~: l nud~~niinium.: Pl~~nrd lntl l)r~cloprn.ntc. liorrower f ~r~:fij }.l'C~ fl'. I1: S+h-ti fi1'.~1C ,..:li .f"l:t~~ [t.~l ~.~~.fil~r ~ _ . . -.i)~. ..li~ ..;iilc:.. J; Jiiif:~~tJlli~!1 ~l( :t1C ~fi~~1G11~ ~ an~ shall ~.~s~iE~h s~tii tt:i pto~t~:v~i, ~~1 t~,,, ~i t~. 11 't_ ~ . 1' t!~!. \1,~:t_.~_,c .,rut tn a i ~U(1~~~Rll;l;iiftt~r( ('~.irltiCC~ ttillt •~:,•t~•~~`Ft`~.tti ~3~ ..C• . ....,;i: , ~>.~~s. .t~~ . . • ;~~i~~.~:,,~;'~ ;N.i:i~i '~1C ~1C.idfalii~D ~t.,. ih: ~ d r, n~ ~ r ~'r-' d r r.i d~'.:'.~ n s• h; :~.tic J c_ iti,~r. ~~i the ~ ~lf .~1CtI1:lf11~ :Cl'.S!I111 i~r ~ ?:•:r;. ` ~ ~ ~ 1 f ~n j. ~ ~ _,~r~~l~~r:~:n~um i~r 4,!.innc~l unn ;fr,~l, t,,,i, ..~;,t c, l~~..: n.: • .:,n.!,~r :~:ii,m ~r i.d ~r~~t .~~I:,t ment .~.~Ci i\C~t:?tili t'•t f~i+it~"hCf .11?t~ Ti~.'~~t'~1 , ~itfl_~ '.~;t~; ~~~'~f~.~~C. t~i .~ti...~i~ ellu _'~~l;1cli1, ~~i ~i7Cf1 (li~l'S ~4 ~}1d~1 ~l' lit:i'i~, ..iR~~ i!~(..~ .li~:S .fL.tli .i1il~R(~ .1'~•1 . i~t~~ _f'l~:fli 'F•i ~~~'•~i1.4I:h .~f:~{ .t;_ :C(ilC"l~ ~Si,Sf~.tkC d? i~ If1C tllS~'I # .~rre ~ert h~rcof. , ~ 7. Prolectiun oF Lender'~ tieeurily. I`. !3, rr. ~~.~r ~.~~1. ~-;;t, r;n !h~ , ,.rc.~nt, .:n.; .,:rr:ments ~.~ntau~ed in lhis `1o~?,~gr. ,~r •i .t::} .~.U,~n .~r p;u.~~.!:n~ :un~n~~;?cc.i .~hi:h m.N~r~~ll. .~N_.r~ I r~i.ler~, ,ruerr.t iri the Propen~~, itlijli~ttt~, h::( R~~~ ~ttti.lC:~ i(ll!iti[7f (~t~ltl:itn. ~::.:,~:ctli~. .~`l~i itil~~f,~~11C11( .i*;.i.i ~C1t1Cil:~ or pr.xee.iir~~ts ~nvol~~mg a ~ ~ ' , ~ hankft3pi i~r ~lc_~~~fertt. thr:~ 1 ~;t~e~ e; I en~ir~~• :•j r... u~.~n r~~i:.c f3:+n~~~~et. ~;.~kc ~u:h :~p~aranceti. cl~~burse such * ' r ~ sums an~ t3ke ~uch a:u~~~ ~s ne~c~..ir< Pr.'~.,i ~y.~~:,~,~~y,Z~. ~~~.!~:,i~ng hut n~~t iimited to. disbursement of ; reasonahle e?tvrne}'. 1~~~ Jfl~ ~~If}' :~n IhC f~~i+~~~_~t~ ~ ~r~. It t er~.~rr re.~uiretf mortgage imuranc:e as a ' cond~lion u( making the loan ,ecur«i h~ t~~~. :t~~ne.+k~. H:~rr~~•.~rr ~h.~!{ ~ay the rrem~umti required ta maintain sueh insurance in cfi~ct until such time as !he rcyuir~mer~t for :;irh in~uran:c ~c:mir~:,trs in ~c~:ordance with Borrowers znd . ~R I'~ ~p ~ 9{~1!(ch71 Y~GE ~7'O~"~ ~