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<br /> S. Hw'tArd nr Nrnnerty insurWnce. Burro�vcr shall kcc�: thc improvcmems no�v existing or liereufter erected on thc
<br /> Property in�ured against lo�s by firc, hazards included within the term "exteixled coveruge" und any other hurArds, including
<br /> tluuJ:;or flunding.for�ti�hirh l.cndcr rc��uircc in�ur:mcc. 1'Itls insuranCC�haU bc maintaincd in thc amotmts and fur thc{�criais c
<br /> that l.endcr rcyuires. Thc insurancc rarricr pn�vid�ng thc insurancc sl�ull hc rhoscn by &xruwrr ,ubjcct tu l.cndcr's approvul
<br /> wAlch sh:dl not he unreasonably �vithhefd. If 7Bnrruu•er fnik to maintuin ci�verage dcscribed abuvc. Lendcr may, at I.Trxler's
<br /> optiu�i,abtain roveruge to proteci L.ender's rights in the Propeny in uccordnitce with pangiaph 7• —
<br /> All insurance policies and rcnewals shall be acceptable to Lender 1nd shull include a stand:ud mortgage cluuse. l.endor
<br /> shal! have thc right to hold thc policics und rencwalti.If l.cndcr requires,Borrowcr shall promFtly givc to l..ender aU rcccipts of
<br /> qaid;;ceniiums and renewal nocices. In the event of loss.Borrower shzU give prompt nitttee to the insuranee currier arxi L.ender.
<br /> Lendr.r rr.ay make pr��f of loss if�not made prornptly b�� Borrower.
<br /> Unlcss Lender and t3orrower olherwise abree in writing,insurincc proceeds shall bc applied ta restoration ur repair of thc
<br /> Propery damoged,i�the restoration or repair is ecommically fe.lsible and Lender's security is not Iessened. If the restc►ration or
<br /> repaA�r is not econontical�;�fat-�:hle or Lender's security would be Iessened, the insurance proceecis shall be appliad ta the sums
<br /> sec�rQrx! by this Securiry Ji�st,z:-eEnt, whether or nut then duc, with any excess paid to Borrower. If Borrower abandons the
<br /> Fr�7crty,or dcsc.s nc�t a�s�er r,�,.`.�n 3U days c;natia irom Lendcr thut the insurence carrier has offered to senle a claim.then
<br /> Leader may c�oiiecc t'r,e :r54a�::t:t• �roceeds. L..cnder may ust the pmcexds w rtpair or restore the Property or to pay sums
<br /> secur•�d by thi:;Secuair.��^,y��7rrnc.whether or not then due.The 30-day perioc! wiU begin when the natice is glven.
<br /> Unitss Lcr„rE:r axJ IicrN�wcr otherwise agree in writing, any appliaati�n af psoccxde to principal shalf not eitend or
<br /> postpone the due date of i:c:.:.ronthly payments ceferced to in parag►nphs 1 and 2 or change tl►e amount of the paymenes. If
<br /> under paragraph 21 the Pro;rrty is acquirod by Lender,Borrow,,r's right to any insurance policies and prc�ceeds resulting from
<br /> dacnage to the Property prior to the r.cquisition shall pass to I.ender to the Pxtent of the sums secured by this Security Inscrun�ent
<br /> immediately prior to the acquisition.
<br /> 6.pc�p�ncy, pre��rvation,Maintenwnce�nd Proteclion of the Pmperty;Born►w•er's Lw�n Applic,xtion;l.ense�old4.
<br />. Borrower stWl oaupy,establish.and use tNe Property as Borrower's principal eesidenec within sixty days at�er the execution of
<br /> this Security Instn�ment and shall continue to occupy the Property as Borrower's prA�cipal residena for at least one yra►r aftar
<br /> the date of occupancy,unless Lendee othe�wise agras in writing,which consent steall not be unreasonably withtuld, or unless
<br /> - catenwtiing cireuu►sia�w.cs e��si �lsic� «.. �y^^.'!�:.'r"^"'"�'� �nTiMI, RAITY7WC1' �hnll not destroV. damsAe or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Property.Borrower shall be in default if any forftituc+e
<br /> • a�tion or proceoding,whUh�r civil or criminal,is begun thal in Lender's good faith judgment ca�ld result in farfeiture of the
<br /> �7c�etty or otlxrwise muterisilly impair thc lien c�tad by this 5acurity Instrument or i.ender's security intenst.Borrowcr may
<br /> cure sucli a default and ninstate,as provided in paregruph 10,by causing the sction or proaoding to be dismissed with a ruling
<br /> � th.vt. in Lender's good faith datermination, prccWdc:s forfeiture af thc�arrowePs interc.at in the Property or other m�te�ial
<br /> i imprimxnt of the lien creatal by this Security Instnsruent or Lcnder's security interest. Borrower shall ulso ae in defsult if
<br /> � Borrower.during the loan application pnooess.gave materially false or itwocurate inforn�ation or statements to Lender(or fuled
<br /> ;i to prov�de Lender with any materiul inforniation) in cc�nnection with the loan evidenced by the Note,including,but not limited
<br /> �i} to, rcprGCentations conceming Borrower's occupar�cy oi thd Property as a principal resid�nce.If this Se.."uriry Instrument is on a
<br /> '1 leasehold, Borrowcr shall comply with all t!u provisions of the lease. If Borrower acyuires fec titic to the Property, the
<br /> '� lasehold and the foe title stwll not me�e unlr.ss[.ender agras to the mcrger in writing.
<br /> �� 7,Protectlan ot I.ender's Rights in the PropMy.If Borrower fails to p�erform the:covenants and Ygreements oontainai in
<br /> � this Security Insttument,or there is a legal proceeding.hat may significar.tly affxt Lender's rights in the Propeny(such as a
<br /> �►ca�:eeding in bankruptcy,F1il1bAt2,for condernnation �►r�orfeiture or to enfonee lews or regulations), then Lender rruy do ared ,
<br /> . pay for whatever�s necasary to protect the vdue of the Propeny snd Lender'e rights in the Proptrty. I.endec's actions msy
<br /> inelude paying any sumc socured by a lien wfiich has priority uver this Security Instrument, appearing in couK. pnyi�►,g
<br /> reasoneblc attorneys'fees and entering on th�Property to n�ake repairs.Although Lender may take acdon under this puragrxph
<br /> 7,Lendrr does not have to da so.
<br /> ' Any unounts disbursed by Lendor unaer this pure�gruph 7 shall become udditional debt of Bomower securod by this
<br /> Security I►istn�meRt.Unless Borrawer and I.cnder agrce t�other tenns of psiyment.these a�nounts shall be�r intorest from the
<br /> date of disbuYSOment at the Nvte rxtc nncl�t�all be payable, with interest, upun noticc from Lender to Borrower requesting
<br /> i PaYment. !
<br /> 8.Marta�e Insurmee.!f i.ender roqnirod mortgage insurance as a condition of making the loan secured by this Security ;
<br /> Instrument, Borrower shall pay the premiums requirect 4o maintain the mortg�ge insurancc in effect. If, t'or any reason, tho I
<br /> mnrtgage insurenoe coverage roquirod by Lender lapses or ceases to bc in effect,Borrower shall pay the p»emiums requirecl to
<br /> obtain caverage substanti�lly equivalent to tlae mortgage insurance previously in effect, at u cost substantic�lly equivalent to the
<br /> cost to Bonvwer of tl�e mortgage insuranee previously in effect. from an altemate mortgage insurer appruved by Lender. If
<br /> subst�ntially equivslent mortgage insurance cov�paga is not available,Borrowsr shall pay to Lender cach month a sum equal to
<br /> ane•twclfth af the ycarly mottgage insurance premium being paid by Bonower when tlie losuruice rnveragc lapsed or ceased to
<br /> be in effoct. I.ender wtll acctpt, use c�nd retain thzsc payments as a loss reserve in licu of mortgagc insurAnce• Loss ttserve
<br /> "� Fwm 3028 9/80
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