|
��. . . ....I ,!'hN�frr,•...� . �.�__ � _. . _.. . ..._ - .� -- _ ..- .
<br /> „ �."._�e-�_r.�: ,
<br /> ,�!`.`�"�a-�- _ �
<br /> ____ _ _ _ - -- _. .
<br /> -_
<br /> _ - _
<br /> 98-1+as�a9
<br /> 5, Nay.�rd or Propecty Insunnce. Horrower shall kap the improvementc tx�w existing �ir hercnfter erectcd on the
<br /> Property insured against loss by fire, hazards includal within the tenn "e,ctend�d covtragc" and any othcr ha•r.ards. includtn�
<br /> Qaods or ftcxxiing. f�r which I.ender raquirrs iiisurance.This insurancc shall be rrwintainal in tNc umounts and for the periods
<br /> that I.ender requires. Tlie insurnn�e carrier providing the insurance shall 6e chosen Uy �3arrawer subiect to L.ender'� npproval
<br /> which s4�a.�1 not be unrensonwhly wi�hheld, If&�irawer failh to maintain cuver�ge descrilxd nbovc, l..end�r nu►y, at I.endcr's
<br /> optioa,n�a�aGn cov�er.ags ta protect Lender's rights in the Properiy in accordunce with pnragrnph 7.
<br /> AE� insur�anee R►nt'►.cies und reiuwals shall be accaQtabte to i.ender und shall include u standard mortgage clause. I.,enJer
<br /> siwlH hav�the right to hatd the poi�ecies end rencwals. [f[.endcr n:yulres, f3orrowcr shnl) pramptly givc to I.endcr nll recef�ts of
<br /> pxial prenniums and rencwal notices.ln the event of loss,&�Kre�uer shall givc pmmpt notxce�c�the insurar�cc carricr a�d I.,cnder.
<br /> L,endec�:�rt�y make proof of loss i�m,ot�ade�rompdy by Bcirmtyer.
<br /> �inh�ws I.e►xler and i3orrower otherwise agr.�in writing,insurance proceeds shal�be app�ied to c�esrordtion or repair of the
<br /> Propeitt'•,;l�maged. if th�rcstoration or ttpaur dc 2c�numicaJly feasihle und l.ender's seCUrity ic not less�nea.If thc reskoratio�pr,
<br /> rep:iir fs t+ot economjc�lly feasible or Leniier's:�i cur�)y would be lessened, the insurance pracads st�all be appliad ta�he surn,w' ';•
<br /> securdd.�v this Secudtv Instrumcnt, whether�qt nnt,then.dtie, with uny excess puid i,�,'��3r�wcr. :f 9orrowtr a�s::�!ons tt;e, ,
<br /> Pra{�i�:�•.,'fl��as not answer wlthin 30 day�a�wtice frar,t�fi.�nta,K that the insuranco•�:rnier has offered to setde a caui,�n, then
<br /> Lenilzr �m�y coU�.t t,he insurenca proceods. Lender may�i�se ihe �iroce�cls,ta �epx(��r n:�tore the Propeny or to pay sums
<br /> sa:u�ed by.i'hih$�s:iirirg fistrument,whether ox nx�t then dud. Tfie 31RdAy,p�rF�c1►vrll�h��in�.when the notice is given.
<br /> ' �•Un1es;�,��;an2?zr and Sarmwer othenvise:.it���ca in wrlti»g, anY appli�;a,,4ptl,of�.cdceeds to principal shall not exte�xl a�'. ,
<br /> post�ianc �he'�cliio date of the monthly payments r;ferred ta 9n paragraphs 1 l�nd 2 qt'.change the amaunt of the paymo:nts. If �
<br /> urtd�r�pt�rngru�h 21 the Property is xquirod by Lencier, Bd;r�swer's right to an}�insuT:��:�ce�policies and procads res!�1'tipg from
<br /> danutgc tu�he�Pmpeny prior to the ecquisition shall pass to L.ta�ler to the extent of th�xui;�s secured by this Secuqt��.i�iiurumcnt
<br /> i►nmediatdly prior to the acquisition. �''
<br /> f.Uaup�ncy,P��*vation, INai�tenance and Protection ot the Prci�hsty;Borrower'R I.wn Ap�;l�tadon3[.ea�el�olds.
<br /> HonpWUr.Fhalt occupy,establish, and use the Proporcy ac Borrower's princi�a2'nsidence within sixty days a[ter the rxecution of
<br /> this•S�c•urity Instrument and sh�ll rnn[inue to occupy the Pra,qerty as Rorrower's prinCi�al residena for at lcast��r��'year�fkr
<br /> the date ciFoccupancy, unleas Lender otherwise agrxs in wijtin�;,whieh consent si�at��nri�be un�xsonaoiy wiiiii��:Ll, �r uiuws
<br /> eztenuating ciroumaUUxrs exist which ue beyoixl Borrowc�z'� �dntrol;.8bri'awAr dhf:;{ twt destroy. d[unrge �t-� i�ps�ir the
<br /> Aroperty, aUow tt�t� Propercy to deterionte. or cbinmit waste�n �h��'`��P���Y•���'�r shall be en d�foult if any forf�iture ;:,.
<br /> �;cioa or prc�ceeding, whettier civil or criminnl,:e�begun that 1n I,ender's g�k�d faidh judgment could �vstilt in forfeinue of thc ,' �'�
<br /> ptrc►peMitcor citherwise materially impsir the lien ceruitd by jhis":5ecurity In�trf�ment or I.aider's socicrity interest.Bo�rower may '�� •
<br /> curo§i�c�A a dtfault and roinstate, as providod in puxgraph.l�{, by c;ausing the accion or procooding to be dismissed with+�ruling
<br /> that, in I.e�xler's good futh deterntinacion, prexludes forfo�tu�re'of the 8orrow�r's inta�est in the Property or other ma�teri� `�
<br /> irtepairmenc of the lien crcated by this Security Instrument or I.erder's security irterest. Borrower shall �lso be in defwlt if �. ;
<br /> Hnrrower,during the loui applicatan p�ocess,grve materixlly false or inu�r��nue infomiatlon or st�tements to L.�nder(or ftile¢�:�...,
<br /> to pra�:kae i,erder with my mattrid infomnation)in connec�inn,•with the Iwu►avidenced by the Note. includinE,but rwt limitad:�'�: �,:
<br /> ta, rS4��rese�tations enncemong Barlower's occupancY of the;,E.rn;perty as a principal rcsidence. If this Sacurity InsaumaM is on r '.
<br /> Ia�eY��S`lii.�Borrowu shall oomppy:vish�4 the provisxurw,Pt'c1ie.lease.��t: Borrower �uirea fee tide to the Pmpert��, the..
<br /> , ,;.�Myti�hdld�ux!the f�c a'dde ahsil not merge unkss I.endera�niqs eo 1he mer�e:r i�t wr�ting. •� �• ,�,;" "�,
<br /> � • � 7;r�!roleetloQ��Y�L#nd�*''s R{�hts tn Rhe�M�+erty.lf Borrower fails gn,pezfornt the oovenents and agroements ccr+�salt�ed in,1.:. .�. �
<br /> � ''`''','��thii�.��sc,u�ity Instrument,or tlKre is a legal pxcjc;eading•t��ac may significat�!)Y. atfset l.�n�r's rights in the PropertY.(cueh�a ' .• •.
<br /> pKKt,�etl.ir$in b�nkruptcy, �+robaft,for oondemnotion o�'forfeiture or to enfora law3;�br regulations).then Lende�a�toug du ud
<br /> p�y�fiir whstever is neo�ssa�ry to protect the v�aue of the Property and L.enaler's rigNts in the Propecty. Lender's r�clicAtis truy
<br /> iiK;Eude paying ar�y sums secured by a lien cav7�Ch has priority over this Security insttument, uppeArinR in Cpu'rt, p�ying
<br /> Rasonab)e attort�eys'fer,�and entering on the f�ri�perty to make repAirs. A,1.�hough i.,ender�nsy take action undec this puagn�ph
<br /> 7. ►.�t�der does not have tA do so_ ` . ,
<br /> ':`•\�y wnrwnts disyursed by Le�cfet urdsr this puagna,y?b 7 shall ba�me addition�l debt of Borrower sec�c,4sE by thea
<br /> Secdnit�Instrumant. Unless Borrower and Lender agree t�vrti�i temis of payrt�ent, thesc sitwunts stWl besr inta�:sY�from the
<br /> date uf disbursement at the Note ratc and shall be p�►yabid:�witti inr.er�;,,upon notice from i.ender to Borrowbr requdti�g .�;;�
<br /> � Pa�rma�t• • � • ...
<br /> 8,Mort�e IdutuK"r.IE Lender requimd mortg�c.inxwaraco a:y��i»tditinn of making the laan securod by this Secvrity���.:
<br /> lanya;i,�:r.nent, Bomower shall pay the prem:ums requirt�d c<d+i•n�i�ir.t�in tt��i�itirtgage insura�xx in cffexK. Ii. far any,rea.von, the
<br /> :..•;o�a-a�r:ss�ge insuru�ce rnvenge rac�irecR by 1Lerder lupsts�it wcsss�s tb be in effect. Borrower shal!pay�the pn�raiu:car.:: rrcquirod to
<br /> � � �` 'at�tnitk ooverage subxt�ntially apnivsleerk tm tba mn�irtgage iri�tn�noe�tqvinu-gly ln effoct,E.t a cost subst4r�4�8II}��}{��dYFL�II l0(I1C
<br /> � � ,coai��o Bornowe�r n�f the mortg�as insuru�c,a E,nrr�:�:;�uusly in effaK, f�cj�.sr��altemate morcgage invu��rp�;Sa;«il:itav.'Lendu'. RPt '
<br /> ' �1�J.bY,i►nnti�lly equiv�4a�e mn+st.g�'�insu��t�Ce:�'t>•xe;t,�t is not avaiiabSe,'�l�c�ranwer shall pay to Lendev�ch�r�.fl'tfi:t gi,t��;squpl.?;w�. .
<br /> omx�:�+elfth of lt�yeu{y rr�a�tgay�s5rt�u�dSier•pre�i.uro 6�c:akt�'1Q�d by�onower wh�.n the insurana coverage 1a�seil,c,;�;�as�ahn.,., �
<br /> f�•ii�efttct. Lender will�c�'.,. w��w�t�'ii^��theat payr,�c:'r.�,y as a loss reserve in li�u oF mortgage insura��e., �[;�.���esenta.'�
<br /> • �.a(!le lK+�O: •
<br /> rau.a a�a
<br />
|