The URL can be used to link to this page

Home My WebLink About2802 l~U ~?k~1 ( u~ l~~~l~. li~~ir~~~~rr an.i l~n~lr~ r~~~rnant aircl :~tirr u. litill~,~~,: i. P:?~mem ~~t~ Principul ;~nd Inlcn,l: Pmpa~menl and i.a~c ('hurkcs. t3urru~~rr ,h:~ll ~~runi~~tl~ ~,a~ ~~h~n ~lur thr ~,rin:i{,.il ~,I ,u~~l intrrr.t un th< <I~hi ~~iclrn~r.) h~ th~ N~~tc anil a»~ rrc~a~ment an~i I~ue rhartr, ~iur unilrr thr N~~t~. ~ ~~un~~? `nr ~~~%i~w und In.uwn.• l~~hLe•~ ~ru.G.~•.1.1., 1•... 1 .i.. L1.. , 1. .11 "u • • _ . ' " ^ u ~-~..v. ~ ,.~uu ~~a~ tu l~n~~r un thr cl:t~ munthl~ ~~a~mrnt, arc ~u~ un~rr thc Nutr, until thr Nuic i, ~~aicl in full, a~um 1"Fun~i,") ~~yual t~~ une-t~~cllth uf: (a) ~~:trl~ ta~~. an~l ;1„e„ment, ~~hi~h m,i~ att.~~~~ n~~~,~~~> o~« <n~, kti~,~~~> i~~,«<~~»~~~~: (h) ~~arl~ f~:t,rh.~lc1 {,,i~in~nt. ~~r Li~~ii~id r~nt, ui~ thr Pi~~{k•i~~, il ,in~: (cl >rarf~• h:va«i in.tu;u~ir ~~rrmium,; anci (d1 ~~arh m~ut~:atir i~i,uran~c ~~rrmium., it' :in~. "fh~.~ item~ are ralled "e,~ru~~ itrnu." I rn~tcr ma~ r,timat~ th~ Funci. elur ~m thc b.i.i. ~urrrnt elata .ind reawn:~hle e,timat~ti t~f luture ~~rro~~ it~nu. l hr I un.i, ,hal! he lir1~1 ii? an in,titutiun thc ~1rpu,it, ur a«uunn ol ~~hirh are in~urr~i ur ~uarantc.tiel b~ a ic~ieral ~~r .tatr :iL~nr~ (in~luding Lrn~1~r it l.~n~er i~ ~urh an inti[ituci~~n). l.ender shall a~pl~ the Fune1~ to pa~ the ~xro~~ item,. 1~•n~l~? m:i~ nut ~harg~ i~~r hul~iing an~l a~pl~ii~g the Fund~. :inal~~ine the ar~ount ur ~erii)ing the e~cru~~ it~nts, unle„ Lrnclrr ~a" liurru~~~r intrrc,t un th~ i~wul. a~t~i a{~~licable la~~ ~xr?nit~ Lencler to n~al.e such a rl~ar~e. A ~harge as,r„r~l h~ Lrn~i~r in ~ui~n~titiun ~~ith Burru~~rr'~ entering into thi~ ~c~urity Ir,tnunent to pay th~ ~o~t oi~ an incie~ead~nt ta~ i~Ex~rting ,rnire.hall nut tx a ~l~arg~ !'ur rur~ux, of th~ ~~rctieding sen[en~e. Rurrc~~~er and Lender ma~ a~r~ti in ~~riti~y~ that intrr~.t ,hall tk ~ai~l un thr FunJ,. Unlr.~ an agrcement i, made ur arplirable la~+ reyuireti intcre,t to be ~aid. Lender .hall nut tx r~•yuire~t tu ~~ay f3urm~+cr ~ny int~rr.t or rarningti on the Fund.. Lender shall gi~c tu f3orru~~cr, ~~ithuut charge, :+n annual arruunting of the Fund, ,h~~~~ing credits and ~I~bit~ to the Fundi and the purpose t~or ~~hich each debit tu thr I~wui. ~~a, ma~i~. Th~ Fundc ar~ ple~ige~1 a~ additional se~urit~• fur the sum~ ~ctiureci b~ this St~urit~ Instrument. If the ain~~unt ut thc Fund~ held by Lrnder, together ~~ith [he future monthl~~ pa~~mrnts of Funds pa~•able prior tu thc duc ~lates ot thr ~,cro~~ item~, ,hall exr«d the anzount reyuirc~cl to pay the e~rro~s items ~+hen due, the e~ces~ ,hall th, at k3orro~cer'~ option, ~ither rromptl~• repaid to F3orro~~er or rreciited to Borro~~er on mor.thl~~ pa~~ments of Funds. It the amuu~~t of the Fun~is held b~ Lender is not suffi~icnt to pa~~ the c~cro~~ items ~~hen due. f3orro~~cr ,hall pa~• to i.~ii~ii :ii~~ :li~iCiuiii iicic»df) iC~ ~iiawc UO itlC ljl'11~~Clll} 111 1~11C l~l IUVIC F?ii)'111CIIlJ 1lS fC(~W~CYI L.fll(jl'f. U~n ~a~me~n i~~ t~ull ot~ all .ums sttiured b~~ thi~ Sc:~urit~~ Instrument, Lender shall promptly refund to Borro~«r an~ Ftinds held b~~ Lender. If sinder paragraph 19 the Prorert~~ is sold or a~quirc~ci b~~ Lender, l.ender shall appl~•, no latrr tt~an immediatel~~ prior to the salc of the Propert~• or its acquisition by Lender, any~ Funds hcld b~• Lender at the time of application as a ~redit against thc sums sc~ureci by this Sc~:urity Instrument. 3. Application ui Yayments. Unless applirablc la~~ pro~~ides othen~~ise, ali pa~~ments re~ei~~ed by Le~ider under ~aragraphs 1 and 2 shall be applieel: frst, ~o late rharges due under the Note; second, to prepaj~ment charges due under th~ Note; third, to amounts pa~~able under paragraph 2; fourth, to interc~st due; and last, to principal due. 4. Cha~es; Liens. Borro~ti~er shal! pa~~ aU taxe5, assessments, charges, fines and impositions attributable [o the f'ro~rty ~~hirh ma~~ attain priority over this S~~:urit~~ instrument, and leasehold payments or ground rents, if an~~. Borro~+~er ~hall pa~~ these obligations in the manner pro~~idcd in paragraph 2, or if not paid in that manner. Borro~~•er shall pa~~ thrm on time directly to the person o~~~ed pa~~ment. Borro~~er shall promptly furnish to Lender all notices of amounts ~ be paid undcr this paragraph. !f E3orro~~er makes these pa~~ments directly, BorroH~cr shall promptiy furnish to Lender ~ re~eipts e~ idencing the payments. Borro~~er shall promptly discharge an~~ lien ~~hich has priorit~~ o~er this Sc~urity instrument unless Borro~er. (a) agrc~cs in ~~~riting to the payment oi~ the obligation secureci by the lien in a manner acceptable ro Lender, (b) contests in good faith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lender's opinion ~ uperate ro prerent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder ! ot' the lien an agreement satisfacrory to Lender subordinating the lien to this Sc~urity Instrument. If Lender determines that an~~ part of the Propert~• is subjert ro a lien which may attain priority os~er this Securit}• Instrument, Lender map gi~e Borrower a notice identifying the lien. Borrower shall satisf~~ the (ien or take one or more of the actions set forth above ~~~ithin 10 da}~s of the g6ving of notice. ~ 5. Hazard Insurance. Borro~~~er shall keep the impro~~ements now existing or hereafter ereti:ted on the Property ~ insured against loss by fire, hazards included w~ithin the term "extended coverage" and any other hazards for which Lender reyuires insurance. This insurancY shall be maintained in the amounts and for the periods that Lender requires. The insurance ~arrier providing the insuranre shall be chosen by Borro~+~er subject to Lender's appro~~al w~hich shall not be unreasonabl}~ ~4 ithheld. All insurance ~licies and rene~cals shall be acceptable to Lender and shall include a standard mortgage clause. ; Lender shall ha~~e the right to hold the policies and rene~~•als. If Lender requires, Borro~ti~er shall promptly give to Lender all receipts of paid premiums and renew~al notices. In the event of loss, Borrower shall give prompt notice ro the insurance rarrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower othenvise agree in writing, insurance proceeds shall be applied to restoration or repair ot the Propert}~ damaged, if' the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security w~ould be lessened, the insurance proceeds shall ! be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borraa~er. ' If Borro~ver abandons the Pro}xrty, or does not ans~+~er within 30 days a notice from Lender that the insurance carrier has of(ered to settle a claim, then Lender ma}• collect the insurance proceeds. Lender may use the proceeds to repair or re~tore the Property or to pay sums secured b~~ this Serurit~• Instrument, whether or not then due. The 30-day period ~~iil begin Hhen the notice ~s grven. Unless Lender and Borro~~~er otherw~ise agree in «~riting, any~ application of proceects to principal shall not extend ; or postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. ; lf under paragra~h 19 the Property is acquirecl b~~ Lender, Borrower's right to an~~ insurance poiicies and proceeds resulting from damage to the Propeny prior to the acquisition shall pass to C.ender to the extent of the sums secured by this Security ! In~trument immediately prior to the acquisition. i 6. Preservation and Maintenance of Propert~; [.easeholds. Borro~?~er shall not destro}~, damage or substantially ~hange the Property, allow the Praperty to deteriorate or commit w~aste. If this Security Instrument is on a leasehold, Borro~~er shall comply with the pro~~isions of the lease, and if Borrower acquirc~ fee title to the Propert~•, the leasehold and fee title shall not merge unless Lencler agrees to the merger in writing. 7. Protection of Lender's Rights in the Propert~; Mortgage Insurance. If 8orro„~er fails to perform the covenants an:l agreements contained in this Security Instrument, or there is a legal proceeding that may signif~rantly affc~:t Lender's riehts in the Property (such as a proceeding in bankruptcy, probate, fcr con~emnation or to enforce law~s or regulations), then Lcnder ma}~ do and pa>~ for w~hatever is necessary to protect the value of the Property and Lender's rights in the Propert~~. Lender's actions may include pa}~ng any sums secured by a lien which has priority over this Security Instrument, ap~?earing in court, paying reasonable attorney~s' fees and entering on the Propert~• ro make repairs. Although Lender ma~ take action under this paragraph 7, Lender does not ha~~c to do so. Am~ amounts disbu:sed b~~ Lender under this paragraph 7 shall become additional debt of E3orrewer secured by this Security Instrurrient. llnless Borro~.er and Lender agree t~ other terms of payment, these amounts shal{ bear interest from the date ol' disbursement at the Nute rate and shall be pay~able, ~~ith interest, upon notice from Lender to Borro~~~er rcquesting pa}~ment. 600K V75 PAGE~S~~ . _ . ~ _ ~ _ ~ r _ . a _