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HomeMy WebLinkAbout869912050017- 09Z -80T :Jaqunm ugo- 61 Z 111JOd dd A AliglauaR puojap ii!M pug s1ugJJgM JaMOJJOg "pJOowjo s Ou Jgwnoua Joj ldaoxa `paJogwnouaun ST ituadold agl lggl pug Xuadold agl ICanuoo pug 1ug19 `O Sow of 109 at l suq pug pa/(anuoo Aslant' alglsa agl jo paztas /Ciinjmui Si JaMOJ10g lggl S.LNVNaAOD 113MM:1110E1 •„/cuadold„ su luauruisul iClunoas s til u! Op pommapp. st SutOSaloJ ag1,Io !iv •luacurulsul'tlunoas srgl,Cq paJanoo aq ow i(ggs suotptppg pug sluawaogidaJ iid luadold aql jo ugd u Jaggalaq so Mou salnlxg lig pug 3ioo1S pug slgStl JalgM `slgold pug sitiSu suS pug Ho `iglauiu `samg/Co1 `sluaJ `saouguaunddu `s1gSu `sivawasga iig pug `Xuadold aql uo paioala 1a}igalati Jo Mou sluawanoiduT a g q li II.LIM 2I3H1gJO.L `(„ssajppy ApadoJd (apoo diz) OTT£9 `dutwOICM uo23 TiiZ AMH a4s3S S6£Z Jo ssalppg aq1 sm.' goIiM >IJe,3 'JeuBeM euueer /6,f fJ1?..... 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Payment of Principal, Interest, Default Interest and Late Charges. Borrower shall pay when due the principal of and interest on, the debt evidenced by the Note, default interest, if applicable, and late charges due under the Note. 2. Payment of Taxes, Insurance and Other Charges. Borrower shall make timely payment of any (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required by Paragraph 4. The Borrower shall furnish proof of payment to Lender upon request by the Lender. 3. Application of Payments. All payments under Paragraphs 1 and 2 shall be applied by Lender as follows: First, to interest due under the Note; Second, to amortization of the principal of the Note Third, to late charges due under the Note. 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected against loss by floods to the extent required by the Lender. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals shall include loss payable clauses in favor of, and in a form acceptable to, Lender. Borrower shall furnish a copy of the policy or policies of insurance to the Lender upon request by the Lender. In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order in Paragraph 3, and then to prepayment of principal or (b) to the restoration or repair of the damaged property. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments which are referred to in Paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled hereto. In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the 2 1 !I 7 0 ssaoxa Auy •sluawAed tans jo lunowu at1 a&uugo Jo `Z tjduJsuJwd ui of paimapa. aae gDIgM `sluawAud r(jtluow alp jo alep anp atl auodlsod Jo puma lou Ijugs iydtouud atl of spaaooJd aq1 jo uoiiuntidde Auy jediouud jo luawAydaid of uogi pug gdeJ eJed ui papinold Japao aqi ui patidde slunotue luanburjap Aug of lsn3 luawnilsuj AliJnoas sigl pug glom aql Japun ssaupalgapui agl jo uouonpai aqi o1 spaaooJd tons zCiddy Ijugs Japua- ivawnJlsul Alin sill) pug alum aqI Japun piedun sutuwai ssaupaigapui alp jo lunowg ijn3 aqi jo lualxa aql of Japual of pied aq Hugs pug pauSisse i(gaJaq aJy `uoiieuwapuoo jo aoejd ut aoueAanuoo Jo3 Jo `A1JadoJd amp ).red Aug jo 2uDjyl Jaglo Jo uotleuwapuoo Aug qqm uoipauuoo 11! `ie►luanbasuoo JO loaitp `sauwep Jo.; wiejO Jo pJeMe Aug jo spaaooJd aqs uoileuulapuo3 algeAed puy anp iClalwpawwi aq jjugs `Japua73o uoildo ac {lie pug 'awl Isamu! ljnejap agl JO `aluJ glom aql le `luatuasJngstp jo al p aq1 wo.c3 1samalu! nag 11ugs slunowy amid, 'luawrulsui Alunoas stgl paJnoas aq pUe JaMOJJOg 3o igap jeuoiiippg ue awooaq ins gdeJ uJed srgl Japun Japual Aq pasJngsip siunowe Auy .Z gduiguiea ut pauouuaw swap Jagio pug aouuunsui piUzeq `saxei 3o luatuAgd gurpnjoui `AiJadoJd alp s,Japua-1 pug A1JadoJd amp anien all) loaioid of ,CJyssaoau st JanaleiM i(ed pug op AMU Japua-1 uati `(suotlwlnSaJ Jo sMel 03J03ua of Jo uoi uwapuoo Jo3 `Aoldruniuuq ut Suipaaooid u sg tons) /iJado1d agl ui sig�tJ s tome AilueogruSis Amu iegl Butpaaoo1d ju8aj a si aJag1 Jo luawrulsui I(iiinoas sill) ui pauruluoo sluawaaJge pug sluuuanoo Jag10 Aug wao3Jad o1 sjiy3 Jo `z gdeJSuJed' q paiinbai sluaw,Cud aqi Jo sluawAud amp 031ew of sit j JaMOJJOg31 'sluawked amp SuTOUapina sidiaoa1 Japua -1 of gsiuin3 Aildwoid Bugs JaMOJJOg `isanbaj s,Japua-I uodn `I(iJadoJd aqi ui 1samalut s,Japua-j 1oa /clasJanpe pjnoM Aud o1 aJnite3 3I luawAed aq1 paMO st goigM Iiiiva aqi 03 Al1Oaiip acup uo suoiluSiigo amp iCyd jjegs JaMOJJOg •z gdeJgund ui papnjoui lou ate lwgl suouisodwi pug sautj `saJUgo judiotunw 10 je)uawu1ano$ lig /Cud jjegs JaMOJJOg ,Claadoad alil uj wpm mapuar 3o no!Oaload pug aaMOaaog 01 sa iuti3 SuriuM ut Jai= am 03 saaJge Japua'I ssajun palm ui aq lou jjegs ajitl aaj pug pjogaseaj at1 `iCi1adoJd my o) aju1 aaj saiinbou JOMOJJOH 3I .aseal aql JO suoisinoad aq1 tj)tM Ajdwoo jjegs JaMO.uog `pjotaseaj e uo sr luawruisul'Cltmoas stt131 •aouapisaJ judtouud a sg A1Jadoid ati 3o Xouedn000 maMOJJOg SuiunouoO SuoileluasaJdaJ `01 pairwtl 10U inq iurpnjoui `glom aq1 Aq paoUaprna uuoi ag1 g1tM uopoauuoO ut (uor }ewiojui jeualew Aug g3iM Japua-1 apinoJd of paj1e3 Jo) Japuaq 01 sluawaleis rO uopeUJJO3ut alwJnoouui JO asp ijjeiJaiew gnu I ssaoojd uorieoildde ueoj aqi ffurJnp `JaMOJJOg 3r 1jnuJap Ui aq osje jjugs,JaMOJJOg iC1JadoJd pauopuege Jo lueOen tons aiu said puu maid 03 Uoi3Og algeuoseai alyl Amu Japua-I 1jnepap ut st uyoj alp Jo pauopuege Jo lueoen sr i(i1adoJd aql 3i Apadoid aq1 loadsut Aew Japua-j •paldaoxa mai pug mom ajgyuosuai `aieioualap o) iCiJadoid aqi Molly Jo AijadoJd aq1 afiuego Aligilueisgns JO aywep ',causal) JO a1suM ltwwo3 sou Ijugs JaMOJJOg 'saOUelswnOJtO $urlunualxa Aug 3o sJapual i ;t)ou hugs nmo_uog joJIUOO s puo'(aq aJe goitim 1sixa saouylswno.go 5upenualxa ssajun Jo `JaMOJJOg Jo3 digspJyg anpun asnuo jjiM ltatuaJinbau srti sauiuuaiap Japua'1 aqi ssajun `Aoundn000 jo alep aqi nip JeaA auo iseaj le Jo3 aouapisaJ judtouud s se MJadoJd ati Adn000 01 anutluoo Hugs pug 1uawfJlsuj Alunoas stgl Jo Uoilnoaxa agl Ja1j11 sAup ,(ixts tngliM aotiap!Sai ludiotri sr X1.rad0J alp Xdn000 01 anurluo) Hugs puu luatufhlsUJ A1unOas 51111 Jo a011naaxa L .9 proceeds over an amount required to pay all outstanding indebtedness under the Note (.kw,931 and this Security instrument shall be paid to the entity legally entitled thereto. 8. Grounds for Acceleration of Debt. (a) Default. Lender may require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or, (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law, require immediate payment in full of all the sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent) by the Borrower, and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with the requirements of the Lender. (c) Default Interest. If Lender has not received the full monthly payment required by the Security Instrument by the end of the thirty day calendar days after the payment is due, Lender may increase the interest rate as described in Paragraph 2 of the Note to twelve percent (12 Lender may choose not to exercise this option without waiving its right in the event of any subsequent default. (d) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. 9. Reinstatement. Borrower has the right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations, that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 4 K 231 A1JadOld agi JO sanuanaJ pug sluaJ 11g anta0a1 pug loaljoo {IMIS JaMOfog `luattnuisui 1Clunoas alp ut luawaa1 P JO fuguanoO /tug Jo gogaiq yaMOJJOg JO JaMOJJoq O aopou yapua''I Ol iopd `JanaMOH 'sluaft s dapua'I JO Japua'T of sluai aril Agd 01 A1Jadoad agi jo lugual goua sloaatp Agaiaq pug sanuana1 pug sivai atlf loalloa 01 slua9g s .10 Japua' pazuoging JaMOJJOg M1Jadoid agl Jo sanuanaJ pug s1uaJ am lig Japua- o1 saajsugJf pug su;Irssg Aliguoiirpuooun JaMOJJOg •sluag Jo luatuuR!ssV .S 1 luawnhisui 'ti!Jnoas s!ql Jo i(doo patuiojuoo auo uantff aq iiggs JaMOJJOg •,fdoj s 1,,1 aiggaanas aq o1 paigpap aag aloM agi pug luawrulsuI Aiunoas sig1 Jo uotsinoJd aqi pua stgl o L uotstnoJd supotlluoo agi lnoglit 1OaJa uantS aq ugo gotta' alom ail .10 luawnilsul *moos saga jo suoisinoad Ja loaJg lou liggs lotIJuoo Bons `Mgj aiggoiiddg gum slorl}uoo 010N alp .10 fuawnJisui I1!Jnoas sty Jo asngp .10 uoisrnoad Aug iggi Juana aqf uI 'pafgooi si AJJadoJd agi gotgM ut uoilatpstanf ag1 Jo Mgi aqf pug Mgt igaapag (q patuano3 aq Hugs luaturufsul Alunoas stgZ •,fltiiquaanas !mu/ 2u{uaano9 •£i gdui$sagd sup ut papinoJd SP uan!S mot Japuarl Jo JaMOJJOg 01 uaniS uaaq angq 01 pawaap aq Timis fuawnilsul Aipnoas sigl ut JO3 papinoad aopou Auy .i MOaaog o1 aoifou rtq salgu$tsap Japua-I ssaappg Aug 10 uiajaq pawls ssaappg yapual 01 jiutu ssglo isJil Aq uanIS aq pugs Japua- 01 aoilou ,tuy Japuarl Oi aotlou Aq salgu rsap JaMOJJOg ssaappg Jaglo Aug Jo ssaappg iC1Jadoad am of pafoaJtp aq liugs aorlou at u, •pogpaw Jagioug 3o asn saatnbaa Mgi aiggogddg ssaiun irgw ssgp ism ,tq li $uriiuw z(q Jo fi guuantjap ,(q u003 aq iiggs fuawnJisul 't1!JnOas srgi ur .1OJ pap!AOJd JaMolog of aotpou /tuy •saopoM luasuoo s,JaMOJJOg iggl inogflM 010N agl 10 luawrunsul Alrmoas srglJo sw.ial am 01 p1001 glint suotigpotuw000g Aug a)igtu Jo maw; `1tJipow pualxa of aaiRe /tgw JaMOJJOg Jagio Aug pug Japua -I lggl sa018g (o) pug `luawna1su' Alunoas sigl pamoas swns agl ad o1 paigStjgo Ailguosaad 1ou st (q) luawn1isul'tlunoas stgl Jo sWJa1 ag1 Japun 1tliadoid all u{ lsaaalu! yaMOJJOg lmgl Ammo pug lugs$ 'argil= 01 /quo luawrufsul Aitmoas srgi Sulu is -oo st (g) :atom ag1 afnoaxa fou saop luawnJisul ,(lunoas stg1 su$rs -oo oqM JaMOJJOg ,tuy igaanas pug mot' aq Hugs sivawaa& pug sluguanoo yaMOJJOg •(q) 8 t{dgJduJgd Jo suorsinoJd am 0l loafgns `JaMOJJOg pug Japua j 3o suSissg pug saossaoons agl ii3auaq pug putq iiggs luawnJlsul i(li1noas sigl Jo sluawaaiRg pug s1umu0AO0 agy •s.iaais -o3 :,fltitqun iu.tanas puu ltiof !punog su2issy puu siossaaans 4=0.110 itiSp Aug jo asioaaxa aqf apnpaad 10 Jo JanrUM u aq 1ou jjggs itpawaJ Jo 1t U Aug SuisiOJaxa ui Japua-j '(q aou1Jgagloj /tud 150104u! ui sJOSSaOOns S JOMO1JOg J0 JaMOJJOg jguiSuo alp i(q apgw purtuap Aug jo uosgaJ Aq luawnJisul i(lunoas sigf Xq pamoas scans ag1 Jo uorlmzi owg Aj!po r astMJaglo Jo luawAgd IT awl puma 02 amp.' 10 Isaaalu! ut Jossaoons Aug lsupSg s9uipaaooad aouawuroo 01 paarnbaJ aq iou ilggs Japua -I •lsaaalui ut Jossaoons yaMO.uog .10 JaMOJJOg jgu1Siao atii 30 'Cltjiggq agl asgalaJ 01 algiado lou ijggs 10MOJJ0 JO 1S0J01ur ut aossa3Ons Aug 01 Japua-I /(q palugiS luawnllsul Alpnoas sigl ,Cq pamoas stuns 041 jo uoggztWowg Jo uorlgoyipow 101uawAgd Jo awpl ag1 j0 uotsua1xg •.iatnrm u tom aapuaq ,Cq aauu.iraq.io,T !pasr:aiag 1nM .taMO.i.rofl 'Z1 11 .0T as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents receive by Borrower shal be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this Paragraph 15. Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the property shall terminate when the debt secured by the Security Instrument is paid in full. The Lender or a judicially appointed receiver shall not be required to post any bond or other security to enter upon, take control of or maintain the property. NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 16. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 8, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Paragraph 16, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with applicable law. Lender shall give notice of the sale to Borrower in the manner provided in Paragraph 12. Lender shall publish notice of sale, and the Property shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 17. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument without charge to Borrower. Borrower shall pay any recordation costs. 18. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of curtesy and dower in the Property. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants of each such rider shall be 6 d ve 1'23 otlgnd £1 1O dpo o s i q I a opaq pa pafMou)loe seM luaurtulsur SutoSalo3 aq j :ss Alunoj \f p) v' ONINOAM d0 g.LviS uW UToy 9 Magog 1aMO11OU It qP!M pap10 i pug 10MO110g q palnoaxa (s)1apt1 Aug ur pug luaumllsui 'Clunoas srgl 3o L gSnolgl i sagd ur pauteluoo scum aql 01 saaag pug sldaooe 1aMO11og `M013g JNIi IS AEI 1at110 10pr21 luatudolanaU lUun pauueld Japrg luatuSed palenpgiO 17F [goads] 1at110 1apt2i �C1mbg Su1MOJO laptg utnrurtuopuo3 Won w INS �F >1? w TIM ANION 'WW2 A3T13H5 -e.ro E :sagdxg uoissnutuoD AIN :sassauitM [(s)aoeds algeoildd>3. 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