HomeMy WebLinkAbout0922 iv~i ~vuc uu uuc uui~ v~ u~~ ~~~.,u.~
r UIIC~tf (13ra~ra~h 19 the Propert~~ is aryL~red b}~ I.en~ler, Borrtiwer's right to any insurance policies and proceeds resulting
~ ln~,~i ~1~rnage tu th~ Yre~~ert}~ rnc~r t~ the acquitiiu~~n ,hall ~ass to l.ender t~> the extent of the sums secured b~~ this Securit}~
In~trumrnt in~mediatrl~ ~ri~ir tc~ the acyuisiti~n.
b. }'reser~ation and ~faintenance of Propert}~; I,easeholds. Horro«er shall n~t destro}~, damage or substantiaily
change the Propert~, allc~w the Yroperty t~ detenorate or a~mmit waste. If this Secunty Instrument ~s on a leasehold,
T3~~rr~~wrr ~hall eom~lg with the rro~~isionsc~f the lease, and if E3c~rmwer aeyuires fee htle tc~ the Pro~erty, the leasehold and
(~•e ntlc ~hall n~it mer~e unless Lender agree~ tc~ the mer~er in writing.
7. Yrotection of Lender's Ri~hts in the Property; ~lortgage Insurance. [t Borro~•er fails to perform the
ce~c~nantt and agreement~ c~nt:iined in this Securit~~ Instrurnent, or there is a legal ~re~ceeding that ma}• significantly affect
Leiiclrr'~ n~,Ms in the Prc~~erty (such as a prcxxeeding in bankru~tc}', ~robate, for condemnanon or to enforce laws or
r~~ulati~~n~), then Lrnd~r ma} dc~ and pa~ for whate~~er ~s necr,~ar}• t~ prcnect !he va!ue ~f the Propert}' and Lender's nghts
in thr Prc~~ert~. Lender'. acncros ma}~ include pa}•~ng anp sunzs secured hy a lien ~shich has nn~nty- o~er th~s Serunty~
In,trumer~t, ~~praring ~n cc~urt. ~a~•ing rease~nahle attorneys' fers and entering an the Property ta make ~e~airs_ Although
I.rndrr ma~~ take a~ti~m undrr th~s Paragraph I.ender does not have to do sc~.
- An} ~m~~untti ditihur~ed b}~ [_encier under this paragraph 7 shall bec~~me additional debt of Borrow•er secured by this
Serunt~ Intitrument. l'nletiti I3c~rn~~tier and [.ender agree to cnher terms c~f ~a}~mcnt, the~e amc~unts shall bear interest from
- thr d;ite c~l di.hurtiemrrit at thr ti~~te rate an~ ~h:+ll be ~a}ahle, with interetit, u~<~r, n~~tice from Lender to B~xrc~wer
reyur,ting ~a}tnent.
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t'~~ ~~~c ('r ~ti R~r-~w er aa,~ 1 en~~r c~i~ rnant and acret ac f~~ll~w~c~
1. Pi~ -~1: ~i PrL:::~.:l.l 31~ 11L~fY~fi E~[~~^.:S~IISrffL 3II~ I S:Y l~il-ilYr~, i~•m•v?rc :^,ill ~t~•m~ti\ ~~-c~ ~tu~
_1~' 1L.~ :tT _I~: :~r'~ . '~~_t:~:_-. _I~: I:I~: LT .'~C:~ L'~ .1:.; : 1: C~'~~,iC'L:~3..'C:~.~~`C~
I~ unds for 1 axcs and lnsurancc. Suh~ect tt~ ap[~li;,ahlc I:~w or tc~ a wnttcn w.iiver h~ l.ender, H~rrawcr,hall Cay
t~~ L rn;i~r c~n thr ~fa~~ m~~nthl~~ ps}ments are due under thr tiote, until the Vote is paid in full, a sum ("Funds") eyual to
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lr~.ch.~td ra~rnrnts,i~r gr.~un.i rent. on the'Pr~,~xny, a~~; Ic) ~e~rl~ hszar~ ~nsurance ~remium;; and yearl~
mortg,age inwrance premiums, it any~. These items are called "cyrru~~~ item~." Lender may estimate the Funds due on the
ha~is c~l currrnt dala and reasonable estimates of tuture escrow itrm~.
Th~ }~unds shall he held in an instituticm the d:~~sits ~~r accounts of which are insured or guaranteed by a federal or
~tat~ ag~nc~~ (including I.ender if Ixnder is such an institution). Lender ~ha~l apply the Funds to pay the ek:row ~tems.
Lrndrr niay not charbe for hulding :ind c~pplying the Fun~s, analyztng thr acco~nt or verif~•ing the escrow ~r.~ms, unless
Lene)rr ~iays f3urr<~wer interr~t c~n the Funds and a{~plicablr law permu~ Lenclrr to make surh a ch~rge. Sorrower an:i
Len:ltr m.~y ag~rr in writing that interrtit tih~ll Ue paid c~n thr Fun~s. Unle~s an agreement is made or app!icable law
:rywreti intrrr~t tu h~ pai~1, Lrn~lrr sh:~ll not be required le~ pay I3orn~~~rr any in~errst or rarnings on the Funds. Lender
~tiall tii~ e tc~ Hurniwer, without ~ hargr, an anziual acc~~unting uf thr f~un~> >h~~~~ing crrdits and debits to the Funds and the i
purEx,~r fur «h~r}? ea~h d~hit t~~ the E=wic1, ~~a, m~de. 'l~he I~und~ ~rr ~lr~lgrel a~i~i~u~,»al security for thr sums secured by
thi, Sr~urit~• liutrumrnt. '
If thr amuunt uf the f=unds held by Lender, iogether with the future monthly payments of Funds payable prior to
!he ~lur ~iate~ of thr e~crow items, tih.ill rxceed the amount required to p~y the eicruw~ items when due, the excess shall be,
.~t t3~~rru~~rr's u~ti~m, either ~rumptly re{~aid to E3urruw~rr or credited tu Ac~rro~~~rr on monthly payments of Funds If the
anwunt ul the Funcis h~ld h~~ Len~ier is nut su(Ticient ~u pay the e~crow items ~~~hen due, Horrower shall pay to l.ender any
;I1111~L111I l1Cl'CSliif~~ t~+ m.~kt up !he drficicncy in ~~ne ~r more payments ~s rryu~red by Lender.
L'~un pa~ mrnt in full t~f all tiumti securrd by this Securit}~ Intitrument, Lender sh~ll promptly refund to Borrower
any Fun~iti hrld h}~ l.rndrr. If undrr paragraph 19 the Nropert~~ is suld ur acyuired b}~ l.ender. Lender shall apply, no later
than imm~diatrl~~ pricu [o the sale of the Yruperty~ ur its arquisition b}~ Lencler, any Funds held by Lender at the time of !
:~~~li~atiun a~ a cre~it against the wms se~urrd b~~ this Srcurity Instrument.
3. Application of Payments. Unless a~plicable law pro~~ides otherw~ise, :~Il pa}~ments received by Lender under
~aragra4~h~ I an~i 2 tih~ll be aprlie~i: first, to late charges due under the Note; se~i~nd, to prepayment rharges due under the
\~~te; thir~i, tu amc~unts pa~~abte under paragraph 2; faurth, to imerest due; and last, to princi~al due.
4. Char~es; I.iens. l3~~rmwer ~hall ~ay ~11 taxes, asses,ments, charges, tines and impc~sitions attributable to the
f're~~ert~• «hich m.?y au.tin pne~nt~~ cn•er this Srcurit~• Instrument, and leaseh~~ld pa~~ments or groun~i rents, iC am•.
liurnn~er ~hal! ra} thr:< <~hliganc>ns in thr mannrr provided in paragraph 2, or if not ~aid in that manner, Borrower shall
i ~ay them ~sn timr dire~tl~~ to the ~~rson owr~i pa}~~~ent. E3orrow~er shall promptlv furnish to Lender all notices of amounts
; t~.~ hr F,aid under th~~ paragraph. tf Burm«~er makes these payments directl}•, Borrower shall promptl}~ furnish to Lendtr
j rrrei~ts r~•idencing the pa}~m~nts.
I [3c~rro~~er shall prom~tl}~ discharge any lien w•hich has priority over this Security Instrument unless Borrow~er. (a)
f agrec:s in w nnng to the p~}•ment of the ohligation secured b}~ the lien in a manner acceptc+ble to I_ender, (b) contests in go~x~
` faith the lirn b~, ~i~r~„~i~ ~ iinst enforcement of the lien in, le al r~x~eedin s w~hich in the Lender's o inion o rate tu
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~r•_~ent the enfnrremrnt i~f thc l~en or f~~rfeiture of any ~art of the 1'ro~rt~; or (c) secures from the holder of the lien ar?
a~;reemrnt ~ati.tartury to L~ndrr subordinating the lien to this Securit}~ Instrument. If I_ender determines that any~ part of
; thr {'mrert~~ i~ suhjrct tr a lien whirh may attain priurit}~ over this Security Instrument, Lender may give ~3orro~~~er a
! ..~.e:.-.. ~rl...,r~l'.:..~. rE~.. li~n Rnrn~~c.~r ~hall .:,r~.f.• ~h~ lirn iir t:~k~~ ~~ne ~~r mure of the acti~~ns set forth abc~ve w•ithin lj3}'S