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<br /> � 98— sa��zs
<br /> S, Huard or Propertg Ineur�t�e. Borrowcr Rhall kccp Ihc impravements now exisNng or h�rcafter erectal on thc
<br /> Aropotty insurod agalrist loss by firc. hexarcls included within th� tcrm "extended coverage” xnd any utixr h�arc9s, iix:luding
<br /> tlaxis ar tloading, for whiefi L.ender roguire� in:.u�»acc. Thic insurance shall!s�mc:ntalr.:!ir.the amc►un��and for the periocl�
<br /> that l,entier nquires. The insurance c�trier providing the insurence shaU be cho�en by Borcower subJect�o Lender's approva!
<br /> whicl� �hall not be unrcasonably withheld. lf Bornower fails to muintain cavern�o descrlbai abovc,l.endcr may, at l.encier's
<br /> option,obt�in mverage to prcxect l.ender's dghts in the Property in Accardanc�e with paragrnph 7.
<br /> All insur�ncc policies a►W rencwals sh�ll be�cceptabic to l.ende�and shall include a standard nx�rtgs�ge clausc. I.ender
<br /> shsll hAVe the right to hold the pollci�s atM1 tenew�is. lf Lerxier rcyulrcs.Ac�rrower shall promptly give to l.emler all receiptr,of
<br /> puid premiurns and renewa! notices.In the event af lass,Borrower shell give prompt notice ro the i.�xsura,nce carrier and Lender.
<br /> t.ender may rrwke proof of loss if not made promp�ly by Bc►rmwer.
<br /> Unless Lendor And Bormwer othenvise agra in wdting, insurance procceds sltiatl be appti.ed Co resxcxal:i.cx�or. �poir of the
<br /> 1'roperty'damaged,if the restoratfan or repalr is ecanomlcally feaslble u.x!Lencier's security is not Le�serned.I�the xesio�atlon or
<br /> npair is not economically feasible or l.ender's socurlty wouW, be tessen�od.tho insurance proc� shall be appliod to the suau
<br /> securod by tlxis�,urity Instrutnent. whcther or nat �l�ec�chte,wi�h�ny excess puid tn Barrower. lf Homowcr abar�cb�►s the
<br /> Pmperty, or clas not Answer within 30 days A notice fcam Lcnder tt►�t the insurencc carrier has afferod to settle a elaim, then
<br /> l.enckr may colloct the insuranee pr�oeeeds. Lenckr reui}r u.Se the proeeeds to repAir or ratoro the Peoperty or tQ pay sums
<br /> secured by this Security Instrument,whetReer ac not then due.The 30-day period will begin wtten the notice is given.
<br /> Unless I,encler �rxi Borcower otherwise agree in writing,�ny �►pplication of proceeds to pxinciprl shall not extend or
<br /> postpone the duo datc of the monthly payments ref�rrai to in paragraphs 1 and 2 or change the a4..^aunt of the payments. If
<br /> urder paragraph 2l the Property is acquired by Lender,Bormwer's dght to eny insurance policies and proceeds r�sulting fmm
<br /> d�unage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secure:l by this SecuraT�Instcument
<br /> in�mediately prior to the acquisitlon.
<br /> 6.Occup�ncy,Preserv�tbn,Matntcn�nce�nd Protection ot t6e Property;Borrower's Loan Aqplkxtbn;Lemveliolds.
<br /> Borrower shall occupy,establish,and use the Property as Borrowcr's principal residence within sixty days aRer the execvtion of
<br /> this Security Instrument and shall continue to accupy the�eoperty as Bor.r,ower's principal residence for�t Ieast one yoar after
<br /> the dete of occupancy, unless irnder othenvise ngrees in w:citing, whic)�consent shall not be unreasonably witht�cld, or uniess
<br /> extenuating circumstxnces eany't which are beyond Borrawer's cnntrol. Borrower shull not destroy, damage �or impair tha
<br /> Property, allow the Property 2a deterioratc, or commit wuste on the Proporty. Borrower shull be in defeult lf'auy:forfeiture
<br /> actinn n�nrrxrrtlina. whether civil or eriminsl. is be¢un that in Lender's¢ood faith iudament could result in forfeiture of the _
<br /> Property or otherwise materially iropair the lion created by this Security Instrument or Lender's security interast. 8orrower may
<br /> cure such a default and reinslete,as pruvided in pnragrapt� 18. by causing the action or proceoding to be dis�nissod with a ruling
<br /> that, in Lender's gor�d faith detcrmin�tion, precludes fort'oiturc of the Borrower's interest in the Property or ather materi�l
<br /> impaim�ent of the lien created by this Securlty Insttument or Ltnder's secttrity interest. Borrower shall also be in default if
<br /> Borrower,during the loan application practss,guve materially felse or ineccurute infom�ation or statemonu to l.erder(or failod
<br /> to pmvide Lender with any material information)in cunnection with tho loan evidencod by the Note,including,but not limited
<br /> to, representations conceming Borrower's occupancy uf the Property ss a principel residena. lf this Security Inst'rsiment is on a
<br /> leasehold, Botrower shall comply with all the provisians of the lease. If Bormwer acquires fee title to the Property. the
<br /> leusehald and the fee title shall not merge unless Le�xler egrces ta tha merger in writing. . . ,
<br /> 7.Protation rof I.nKler's Rights In the Property.If Borrower fails to perform the covenants and agroements cont�inod in �
<br /> this Security Ir.strument, or there is a Iegal procading that may signihcantly affect Lendtr's dghts in the Prop�rty (such as x
<br /> proceeding in bankruptcy, prqbate,for condemnation or forfeiture onto enforce laws or regulations),then Lender.may do and
<br /> pay for whatever is necessary to protect the value of the Prnpeny and I.ender's rights in the Propercy. Leixtei�'s hctions rnay
<br /> includt pnyin� any sums seeured by a lien which has priority over this Security Instrument. sµ��aring in court, p�ying
<br /> reasonable attorncys'foes and entering on the Property to malcr rcpairs. Although L.ender may take acti�n under this peragr+ph
<br /> 7,L.e��der dneS not havc tv do so. '
<br /> Any amoi�rotis disburscd by Lender under this paragraph 7 shall become additional debt of Borrower socured by thls �
<br /> Security Instcument. Unles�'Borrower and I.ender egreo to other terms af payment,these amounts shall bear intetest from the
<br /> date of disbunernent at the I�[ete rate anci shall be papable, with interest, upon notice from Lender ta Bormiver roquesting
<br /> PaYment. ';
<br /> 8. MortgAge.Insuranea If Lender required mortgage insurance as a condition of making th� Roan securcd by,this Seeurity
<br /> Instrumcnt, Borrower shall pay the prcmiums requind tm muintain the mortRage insn�nce in etfat. if, for s+e�y reacon, the
<br /> mortgage insurence coverage s�eqirated by Ltnder lapses o�ceases co be in effect,Bc�rrower shall pay the premiw:rns aequired to
<br /> obtain coverage substuntially c;tiu�valent to the mortg�ge a�tisn�cance previously in eff�t, at a cost substuntialMy exAa�ivalent to the
<br /> cost to Borcower of the mortg'agc insuraa�ce.prevlously in effect, from an altemate mortgage insunr approvas by Lender.I�
<br /> substantially aariavalent mortgage insurance�:ov�rege is not nvnilabie,B�cmower shall pay to L.ender each month a sum equal t.�
<br /> one-twelfth of Yhe yearly mortgage insurance premium bcing paid by Borrower when the insutark�e coverage lapsed or ceased tm
<br /> be in effect. Lettder will accepc,use mxi retain these payments as a loss rcserve in Eieu of mortgage insurance. Loss reservo �
<br /> ' Fwm 302E 9/90
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