|
. . . ..,,.—.�...,..e.�tir.rr:t..,—r.=—=cc.— --------
<br /> ;�s,.�.�s:��6. •1 � —
<br /> _.
<br /> _ .---- __. ..._.__ --__ -- __ ....___ -- -----------
<br /> �8�- 11'1SC12U
<br /> S. NM�rd nr Praperty liwur�nca &�rrower shall keep tho impravemente no►v oxisUng or hereafter crected on thc
<br /> Pmpeny insur�l a�xinst los� by fire, huzwrds iikludal wUhin the term"extenciod covera};p" xncl any other hwxrds, including
<br /> Fl�xxls or tlexxling, for which l.encler reyuircy insuru�xc.7'Fds insuranca hhrll be maintulnod In the umounts und for the perlals
<br /> that Lr.�xler reyuirey. 7'ha imuruncC wrrier pruviJing ltic it�xurancn sl��ll t�chc��en by Elurrower subject to L.enJer'h approvul
<br /> which shall nnt t+e unreasnnuhly wfthhGld. If Anrrowcr fwi1F tn melntaln covern�e de�crftxci aixive, I,encler may, et [�a►�ier's
<br /> option,obtain covcragc to pratect l,c�xlcr's rightE in iho I'mperty in nccar�uncc with parnbruph 7.
<br /> All insurunce poNci�s and renewals shall be ucceptablo ta Leixier and shall Inchuta a stanclarci mcsrtgaga cl��u�o. [.onder
<br /> ehnll havc thc right to hold�he policics und rennwuis.if l.cnder requires,Hc�rmwor tihull prontpdy givo tn I.endcr all rec;Eipts af
<br /> paid pr�miums anci rcnewal notices, In thc cvcnt of loss,Barrowcr Rhall givo prompt nolicr,to thc insurnnca cu�ricr uncl I.onder.
<br /> Lender muy make prcwf of loss if not made prompUy Uy Bor.rower.
<br /> Unless Lcnder mxl Borr.Uwer othcrwi�se agroo in writin.g.i.nsurance procoods shall bc npplicd to rcstoratlan nr npair of the
<br /> Progecty damaged. �f the resr.oratioet or rr.pair is aonomicrlLy feasible and L.ender's security iF not lessenecl.If tho t�estoradon or
<br /> rc�ir is not econocnEca4fy feasible or I.ender's ucurity woutd be [esser.rod� ttue insurnncc proceeds shnll be applled to the sums
<br /> socured by this Security [nstrument, whether or not then due, with any�xcess paid to Borrower. tE Borcower abendans the
<br /> Property, or does na answer within 30 days a notia from Lendcr that th� insurance carricr has ufEer�dl to settle x cl�m,then
<br /> , Lender may collect the insuranoe proceeds. Lender may use the ptocetds to repaii c�r Gestore t[�e Prv�Oeny or to pa�y sums
<br /> secured by this Secvrity Instrumen¢,whether or not then due.'�'he 30-day period will begin wAen the notice is given.
<br /> : Unless T..tider and Borrower aherwise agree in writing, any applicallon of procoeds to pri�ncipa! shall not extend or
<br /> postponc the due date a�the monthly payments referred ta in paragraphs 1 und 2 or changc thc�mou�t of the payments. If
<br />, under parugraph 21 tLc:I�ropeny is aa�uired by lander. Aorrower's right t�any insurance policies and praca�ds resulting from
<br /> damage to the Property prior to th�:;-:�r�uisiticro shall pass to Lender to the extent of the sums secured by this Security Instrun�ent
<br /> . immaliately prior to thc acquisitic�•n.
<br /> 6.Occupuncy, Preservation,Maintenance and Protoctlon ot Ihe Property;Borrower's Loan ApplicnNon;Leaseholdra.
<br /> t Borrower shall cecupy, esiablish,and use the Property as Borrow�r's principal residcnce within sixty days after the exxution of
<br /> this Security Instrument and shall continue to oaupy the Pcoperty as Borrower's principal residence for at least one ye�u aftor
<br />�, the date of occupancy, unless Lerxler othenvise egr�ecs in wrirti�+g, which consent shall not he unreasonably withheld,or unlcss
<br /> • extenusting circumstances exist whlch are beyond Borrow�r's control. Borrower shall not destooy, damagc or intpn{r.the
<br /> :,;j Property, allow the Property to dcteriorate, or commit wA,�4c un the Property. Borrower shall bc in Qcfauit ff any farfbi[u�e
<br /> y action or proceedix►e,whether civil or criminai,is begun .�e in i.ender's good faith judgmcnt coutd result in forfeiture of the
<br /> �r Property or ott�wise ar�terially impair thc(iexa created by��is Securiry InsQr,umcnt or Lenc#er's sccurity interest.Borrower may._
<br /> �` cure such s defauli i�nti rrin�ta.te,�y provided in paragraph 1R,�hy�causing tll�e action or prcu:oeding to be dismissod with a ruling
<br /> �' thut, in I.ender's goad fait , determination, prccludes forE��iture of the B�.�rower's ioterest in the Propeny or other n�eteriAl
<br /> •� impa{rment of the lien crwted by this Security[nstrument or�Lendor"s sc:ciarity interest. 8orrower shall also be in default if ,
<br /> , ` Borrowcr,during thc loan application process, g�ve materially falsc or,ic�accnrate inforn�ation or stetements to I.ender(or failed .
<br /> to provide Lender with any material infornuttion)in connoction with tiu:ioun eVidencaci by the Note.ineluding,but iwt limited
<br /> to, representations conc:erning Borrawer's occupw►cy of the Propecty as s principnl residenca If this Securiry Instcument is on a •
<br /> -i leuschold, Aonower shall comply with �ll the provisio�is �f the leasc. If Bormwer acquires fee titlr to the Property, the
<br /> ., leasehotd und the fee title shall not mergc unless Lendcr"agrees to the�nergor in writing.
<br /> 7.Protection,of I.ender's Righta(n the Property.If Horrower fulls to perf'orni thc covenants and agreements oontained in
<br /> ..� tbis Securiry Instnti�i�nt. or there is a legal proccecling that may significantly affect I.ender's dghts in the f'roperty(such�s a
<br /> ; � procading in b�nkruptcy,p�bete, for condemiwtion or forfoiture or to ento�ee laws or regulations),th�n Lender mAy do and
<br /> pay for whAtever is neccsury to protxt the value of the Property and Lendcr's d�hts in the Property. Lcnder's actlons may �
<br /> e" "t inalude paying any sums secured by a lien which has priority ovor this Security Inst�ziment, ap�aring In cuurt, pnyiug
<br /> �; reasonable attorneys'fees end entering on the Propeny to make repalrs.Althaugh Lender may tako action under this para�raph , . � .
<br /> :: 7, Lender das not have ta do so. . � ..�
<br /> ,�4 Any amounts disbursod by Lender under this paragraph 7 shall become additional debt of Bon•ower securod by this �
<br /> ' � Security Instrument. Unless Borrower and L,ender agree to other terms of payment, thcse amounts shall bear interest from the
<br /> date of disbursement at thc Nute rnte and shall be payable, with interest, upon notice from Lerxler to Borrower requesting
<br /> payment.
<br /> , 8.Mortg�ge Iesurnnce.If Lender requirod mortgage insurance as a condition of making the loan secured by this Security
<br /> Inst�umenc, Borrower shall pay the prcmiums rcquiral to maintain the mortgagc insurance in effect. If, for any nason, the
<br /> mortgege insu.°anct coverage nquin,�ci by Lender lapses or ceasas ro be in effect, Borrower shall pay the premiums roquiral to
<br /> ; obtain covcrage substantidly oqutvalent to thc nwrtguge insu►nnce p►�eviously In effxt,nt v cost substantially eyuivalent to the
<br /> � cost to Iiorrower of the mortgagc insurnncc p�eviously in cffect, from an alternatc mortgage insurcr�proved by Lender. If
<br /> ' '` substantially equivalent mortgagc insurancc wvcragc is not availablc, Borcower shull pay to Lender each n�onth a sum oqual to
<br /> �%r one-twclfth of the earl mort e insurance remium bcin ud b Borrower when the insurance cover� e la sed or ceased to
<br /> Y Y 8�8 P 8 p � Y 13 P
<br /> `� be in effect.Lender will accept,use and netein these paymente us u loss reservc in lieu of mortgage insurarwe. L.oss ceserve
<br /> i Fam 9828 8/90
<br /> .�
<br /> I P�3uf0
<br /> t
<br /> a
<br /> � �
<br />
|