|
•rr-- f �.__ . ��l � � i
<br /> .� -.,a..a..v�a..a+.w��e�a_Srr�i�:; c +.�L sll>'It -f+��i-- ' �+J.�y�F+tlttti 'u;';; „v � - - -_ --. .._. _ ..
<br /> • �"�� ) "�.yf}�Z'q�����`�f,t,�L�3h61F1 "^���� � Jt•'�.4
<br /> --
<br /> 9$-- �C5;�5
<br /> �� H�p�ed or pr�perty I,wm�qr�e. Borrower shall kcen the improvements now existing or herea r erec:tcd on tb.�:
<br /> r���y ���„��f�M;�u„� �y fi;a, b�s��e includr,�within the►erm"cxtended c.�veragc"end any athcr har.ard9, includinp _
<br /> flcxxl�ur Oaxlln�{, U►r which I.ender reyui►es insurance.Thfs insuraRCC ahall be maintained in the artx�unte and fot the period�
<br /> Ihat I.eixler rtyulrcH, 'flw Innur�ncc carrier praviding the insnrancc shall bc chosen by Bonower suhject to l.endcr's approvsl
<br /> whlch Khell �w» he unrr��iu�hly wlthheld. If Borrower fails to maintain cover�ge describcd above, I.ender rru�y, at lAnder'n
<br /> c►p�lon,obtKin cY►ver�ga Ic►pnHec�Lender'R rights in the Property [n accord�nce�vith paragraph 7.
<br /> All Inxur�rx;e p�liclew rnd renewale sh�ll,be acceptuble to I.ender und shall include a standard mortgage cluuse. I.encter
<br /> stull lu►ve the rl�ht tn ix►Id thc policies aml�rsmqwAls. If Lender r•equires,Borrawar shall promptly give to Lcnder all recefpte of
<br /> pald prcmiumK wncl renewal no�ices.1n ttiA t+��x�tttiuf�loss,Bcirrower shn11 give pron�pt notice to the insurance carrler�nd Lender.
<br /> LenJer may mrkc pnx�f of lo�w iF ix+t�ir►�+.i�prc�'b��1;i/by Borrov�er.
<br /> UnIe�R I.endcr bnd Aormwtr MhS�`w1x�n±tri+�i�W+riting, insurance proceeds shall bc appiied ro restaration or rcpuir of the
<br /> Proptrty dtn�agod, iF the rtstaralion��r:ri►��,in i��r';Unomically feasible 1nd Lender's security is not lessenal. If the resturation or
<br /> repair 18 not xonomlcally fcn.siblo or,L,eixlrn's•s�:�writy woyld be lessened.thc insurance pr�s shall be applied to tha sums
<br /> securod by thls Security inAtrument, whcthei•ar���sit�then due, with any excciss paid to Boaower. If Horruwar sh�indans the
<br /> Property, ar d.oee not answer within 3tl.dqya;a.►x�tipo fmm Lender that the insuranco carrier hets offered to sottla a claim. then
<br /> Lxnder may collect the in�uranco prcx�eods��l:e��ar.may use the praceeds t� repidr or restore the Property or to pay sums
<br /> se:cureci by ehi�Security lnstrument,whttherar�m�t,then due.The 30-day period will begin when the notice is given.
<br /> Uniass l.etxier and 8e�rmwcr othcnvirw s�rec in wrfting, any application af proceeds ta princisx+l shall not extend or
<br /> post}wne thn due datc nf the monthly pay:ncnts rcferred ta in paragraphs 1 and 2 or chunge the amount of the payments. lf
<br /> under paragrtph 2l the Propcny is acquirod by I.ender,BorrnwPr's right ta nny insurance policies and proceeds rcsulting from
<br /> cliunago to►he Property prior to the�cqui�sition.rhall pass to I..ender to the extent of tha sums secured by this Security Instcument
<br /> immedi�tely prior to the�cyuisition,
<br /> 6,pccup�ncy,Pra'rvRtlon, Mataten�nce and 1'rocectian of iihc PropeMy; Borrower's Loan App!lcation;Lea.s�ho[de,
<br /> Borcuwer ahdl uccupy,atablieh,and uxe tha Proporty ss Horrower's principal residence within sixty days after du execution of
<br /> this Socurity Instrumenl and ahall continue to occupy tho Pro{xity as aorrower's principul nsidence for at Ieast one yeur nfter
<br /> the d�te of occupancy, unless I.ender otherwise agroes in writing�which consent shall nat be unre.aso►u�bly withheld. or unleas
<br /> extenuating cireumstances exist which aro beyond Borrower's amtrol. Borr'owcr shall not destroy, darnage or impsir tl»�
<br /> Propeny, aliow the Property to dcteriorAto, or commit waste on tlie Property. �orrower sh�il3 be in default if any forfoitun
<br /> sctian or pruc«Ji�i�, wh�ther cfvit ar crim'sn:.l,i�Meun that in Lendr.r's good faith jud�ment could rrsult in forfeitu[e af the
<br /> Property or otherwlsC matcrisUy imptir the lien creAted by thi�Sccurity Ii�atcument.or L.endcr's security inter�st. Horrower may
<br /> cure auch�def�ult ud rcina�ate,aa pmvidod in paragmph 18, by cuuaing the action or proceeding tu be dlsmissed with a culing
<br /> thnt, in i.encfer'R �ood faith determituitlon, precluda forfettune of the Bonower's lnterest in the Property or other materi�l
<br /> � impKirnient of the Nen creatod by this Security Instrumant or [.cnder's security interest. Borrower shall also be in default if
<br /> Hon+ower,durin�the lou�appllcrtton procea�,g�ve maieri�iiy iuiec oi i,�ac�araic infarn�atio�a:siaLem�rtL r�i rnder/or fWad _
<br /> to provlde Lender with any mntarial inf�rnwtion)in connection wlth the loan evidenced by the Nota,including,but not limitod
<br /> to, repcesenutions�bncerning Aorrower'�occup�ncy�f the ProportY as a pri�cipal residence.IP'thia Security Instrument is an�
<br /> t�,..ti�i� �.�.+w�r ahall r�mnly with ull the qrnvisions of thc leasc. 1F�orrower acquires fee title to tho Prqxrty, the
<br /> leasehold and the fa title shall not merge unless I.ender agras to the mergar in writing.
<br /> 7.Protection ot La�der'�Ri�hts in the Rr�perty.If Borrower fails ta porform tho covenunts and agreemente cont�ined in
<br /> this Sa:udty I�ustrument, or tlxre I�a le�al proceedin�that may significantly nffect L.ender's rights in the Prope�ty (such os�
<br /> procading in bankruptcy, prob�te, for condemnxtl�n ar forfeituro or to enfotY:e law.s dr regulatians), then[.endor mny do and
<br /> pay far whatever is�ssary to protoct the value af the Propecty and Gend�r's ri�hts in the.Pioperty. I.�endar's actions may
<br /> include paying any sums securcd by a licn which h�s priority over thls fiecurity Instniment; appearing in coun, payin�
<br /> reasonable attorneys'fas ancl entoring on tho Property to make repain�.Althoiigh I.ender may take,action undcr thie par�graph
<br /> 7,L.ender doe.r not t►�ve to do so. � �'•
<br /> Any �uraunts dictwrsed by I.ender undcr this paru�raph 7 shall� bccoma t►ddidonal debt of Borrowcr aecuc+ed by thi�
<br /> Security Instniment. Unless Borrower and i.cnde�agree co other terms of paymerit,these amounts shall'beaP intcrest from the
<br /> data of disburaement at the Note rate a�xl shdl be poyablc, with interest, upon notict from L,cnder to Borrower roqueating
<br /> ptyment.
<br /> 8.Mort�e Insuranot.If Lender requirod mortRaQe insurance w a condltlan of making the�loan secured by this Sacurity
<br /> instrument, Bonower shall pey the prcmiuma requlrod to maint�ln the mortgage insurance in�:cffCCC, If, for eny re+uon, the
<br /> m�ctgage insurance coverage requirod by i,ender I�or oeasee to bs in effcxt, Borrowcr shall pay tho premiums roquired to
<br /> obtain coverage substantially equivalent to the mort�ye iruur�uue pnviously in effect, at a east subatantlally oquiv�lent w the
<br /> cost to Borrowcr of the mortgage insurancc prcvfaualy in effat, fmm an altnrnata niortgage insuret approved by L,ender. If
<br /> substentially oquivelent mortg�ge insurance cover+i�e ie not avaflible,Borrower shall pay to Lender each month a sum oqunl to
<br /> one-tweltth of the yeurty mortg�ge insurence premium belnQ paid by Borrower when the insurance coverage lapsod or ceased to
<br /> Ae in effect. Lender will accept,use and rewin these pwymentx as �loss reserve in lieu of mortgage insuranco. T..oss resen'o
<br /> Fonn 3026 f1/90
<br /> �.o.aae
<br /> •.. , � '
<br />
|