|
' �--t
<br /> a
<br /> .� ..j11{� . " /r . T_
<br /> .. .. ' .. - � :�'... . -
<br /> , - . - r� - . +��^ . " ,`. - . . -
<br /> / •
<br /> . ' ' , ' . - .I.n:+�}!Y
<br /> . - . { . -� - i� � -f . ..' i"'�����.
<br /> _ r � '' - � �. . � �.i• .
<br /> . 1 .
<br /> , F
<br /> � rl..
<br /> . � �7�1���03 �� _ =.
<br /> g, F�uaArd aQ Pro�terty lnsurnnccs. �arrow�:r tihall kccp dic imnrrnemen�ti now exisdng csr herexfter erccted an the ,
<br /> ' Prr�erty in�tred a�nip?st losy by fire, he�ArdN includcd widiin d�e tem� "extendul cover.ige" and any other luizs►rds, including _.
<br /> �, floada or flaadinQ, for vduch Lxnder requires insurance. This ineurnnce s4a11 be niainu►ined iu tite amouutv t�nd for tlte periods
<br /> � that[xn��r requires. Tl�e insumnce usrricr providjna thc:ii�.5ura�c�;suall be c6osen by 8otrower subject ta Lendet's appr��val
<br /> whic6 shnll not be w�reasonably widthold, If Darm�ver fnils to unainu►in coverege descrihed above, Lxnder mxy, xt Lender's
<br /> ' � mptian,ofltaln coverage to pratect Lender's ri�hts in die Property in accordance with para�raph 7. „
<br /> Al! in:zurancr �wlici�s and renewnlp :�iall be ar,ceptahle to Lender and sb�ll include a standard mortgage clause. Len�ler
<br /> shaU.liave the riBht to hold the policies and renewals.If I.euder tequires, Barrower shall prampdy�ive to Lender all teceipts af
<br /> paid premiums and renewal nodces. In die event of loss, Borrower shall give prompt aotice to the insurance carr[er and Lender. , �,,.,,,,_ _
<br /> I.end�r may muke proof of loss if not made prompdy by Borrower. ';:=,j�`�•
<br /> Unless Lend�r and Borrower o4henvise agree in wrivag,insurance proceeds shall be applied to restoradon or repair of the • . � ����;'
<br /> � P�ngerry dama�ed,if the restoraaon or repuir is economically feasible and Ixnder's security i§ttot lessened.If the mstoradon ar ;,,K-�;�-��,
<br /> repaie ie not economically feasible or I.e�ider's security would 6e lessened, the insur�nce proceeds shal.l be applied tn the sums . .��,:.-�:t��
<br /> seciued by this Securiry Instrument, whetLer or not then due,with any excess paid to Borrower. If Borrower abandons the
<br /> ;:,f(1: Pmperty, ur duey uot answer tivitl�in 30�tsys a uotice from Lender that the insuratzce carrier has offered W setde a claiin, then , _M�J^__
<br /> Lender may collect the insurance proce�cls. Leuder may use the proceeds to repair or restore the Properry or to pay sums _
<br /> e '
<br /> secured by this Security Instrument. whether or not then due. The 30-day perlodwill begin w hen t he no dce is s iven. �. __
<br /> Unless Lender and Bonower ot�envise agree in �vritang, any application of proceeds to priacipal shall not extend or .�,.,�•
<br /> � postpone the due date of the monthly payments referred eo iq pnragraptis 1 and 2 or chanse the amount of the payments. If under � ;��,-=,_
<br /> . S� paragraph 21 the Property is acquired by Lender, Bonower's right to any insurance policies and proceeds resvldng from
<br /> .. ._ , �__ .�...._ .,:,.c .�o�,,,,,�,,,�hy this Security Insuument
<br /> — GaI'i7d�v U7 IAC Yrageciy pci�:w iLe a�yuia.twii J11A22�7aaa iu a..i.uu�.a iv�.w�...�-_... .. - .
<br /> � immediately pdor to the acquisidon. •� �
<br /> , �' 6.Occupancy,Preservatlon,Malptenante and ProtectIan of the Property; �orrower's Loan Applicatlon;Leaseholds. � �`��'�`
<br /> :�,. ..,,::, .
<br /> Borrower shall occupy,establish,and use che Property as Borrower's principal msidence within sixty days after We execudon of '�' -
<br /> , _`, � thie Security Insnument nnd shall conri�ue to occupy the Pxoperty w Bonower's principal cesidence fur at least one year after � ��
<br /> -- - - :t�a 3at��f cc,."u�auc� tL.l�s Leuser c��^*.riGP�gr!��;n wriring; which conscot s2�a11 not be unreason$bly withheld, or un9ess
<br /> eatenuating circumstauces exist which are beyond Bonower's control. Bormwer shall not desuoy, damage or impair the '
<br /> Properry, allow the Property ro deterlorate, or comari¢waste on the Property.�onower sball be in default af 1ny forteittu� t�`� , , �
<br /> ' acaon or proceeding, whether civil or crin�inal,is be�n that in Lender's goad faith judgment could result in fnrfeiture of the �,,•
<br /> �'•:;, . Property ur otherwise materialty impair the lien created by this Security Insw�uon.t or Lender's security intetest. Bonower may �.��, h" �,,�
<br /> ;;;;;y , cure such a default and reinstate,as provideci in paragraph 18,by causing the acdon or proceedlug u►be dismissed with a r�i� .;� �
<br /> thnt, in I.ender's gaod faith determination, precludes forfeihue of the Borrower's interest in the Property or other matc3rial ;.J s •
<br /> . impairm.ent of the lien created by this Security Inswrnent or Lender's securfry imterest. Borrower shall also be in default if �:
<br /> Barrower,during the loan application pracess,gave materially false or inaccurate informadon or statements to Lender(or failed �
<br /> .�:'���^ ' to pmvide Lenrler witli any material infomiatiou) in cozwection with the loan evidenced by the Note,includins,but not limite3 ,
<br /> ''.'�� t to,representations conceming Borrower's occupancy of the Property as a prtncipal msidence. If this Securlty Insmiment is on a =--_-_
<br /> � leasehold, Borcower shall comply with all the provisioas of the lease. If Borrower acquires fee title to the Propersy, tlie .�`�;��'"
<br /> � � ''' leasehold and the fee dtle sball not merge unless Lender agrees to the merger inwritiag. �;.
<br /> 7.Plratection of I.ender's Righta fn the Praperty.lf Borrower fails to pedorm the covenants and asreements coniained In �,____
<br /> , this Security Insuvment, or ther�is a le�al pmceediag Qiat may signifieandy affect Lender's dghts in the Property (such as a �;—_ _ _
<br />- , proceedtng in banlmiptcy. probate, for condemnation or forfelture or to enforce lawa or reguladons), then Lender may do v3d
<br /> , ' pay for wl�at�ver is necessary to protect the value of t]�e Property and Lender's rights ia the Property. Lender's acdons may �'-Y
<br /> - :,, . .,, include pnying any sums secured bY a Iten which has priodty over this Saiariry Instr�ment, appeAring in court, paying ����.���-
<br /> _ reasonable actorneys' fees and entering on the Property to make repairs. Although Lender may take acdon unr�er tbis paragraph ---- -
<br /> :f�,'� 'l,Lender does not have co do so. _
<br /> • ,,;�,,,<•� .: -- ,-
<br /> � , : •:;;�.:,���.' Any amounts disbursed by Lender under tl�is paragraph 7 shall become additional debt of Borrower secured by tbis :�.�;7�
<br /> ' Sesurity Instivment. Unl�s Borrower and Lender agree to other cecros of payment,these amounts shall bear interest from the '�:`4�; _
<br /> � date of dishursement at tl�e Note rate aud shull be payable,with interest, upon notice from I.ender to Haraower requesting ,�, — „�,
<br /> paywent. .. , ' � .�,.
<br /> S.Mortga�e Insurance.If Lender�quin�cl mortgage insurance as a eondi6on of maki�the loan securecl by this Security ����-*.;,;,• -,�y.�` �
<br /> Insnument, Bonower shall pay the premiums required ro nutintain the mortg�ge insurance in effect. If, for any reason. the - -::-:,N� ��:�=-
<br /> mortgnge inaurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to ` .,�.,•�.�i,�µr�
<br /> � obtain coverage snUs.andally equivalent ro the mongage insumnce previously in effect.at a cost substantia(ly equivalent to the ;
<br /> cost to Borrower of tlie mortgage iasurnnce previousl�in effect, from an altarr��te mongage insurer approved by L.ender. If • ; ,
<br /> � � ,. subsuwtictlly equivalent mongage insurance c:overage is not available, Borrower shall pay to Lender each month a swn equal to � . ;y''"�
<br /> one-twelC�th of the yearly mongage i��surance premiwn being paid by Borrower when the insurauce coverage lapsed or ceased to ::,;��;+,..;.
<br /> be in effect.Lender will accept,use and retain t�ese payments as a loss resen•e i:� lieu of mortgage insurance. Loss reserve
<br /> ;::;••
<br /> •� ...
<br /> Fotm 302Q�9/90 • �
<br /> �11J►�
<br /> � �-HRfNItI�esi2�.o� Pp�3 010 iNn,iq��f[�L_ " ,l
<br /> .,
<br /> _ _
<br /> : _ __ _ - � — _ - -- -
<br /> � ..
<br /> ._ ... _ __. _.. , ... ... .. . ., � �-----,.._..__..._ � ._. . - ,, -._ _ . � . -----•
<br /> . �
<br /> ,
<br /> �
<br />
|