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<br /> 5. Hazurd or Nroperly Insuruiicc. Born�wcr shall kccp tl�c improvcmcnts now existin� on c�rruftcr crcctcd on thc
<br /> Property insured ugainst luss by tirc, hn�.�trds includcd�Hithin thc tcrm "extcndcd rnvcrugc" and uny othcr hiizards, including
<br /> flcxxls or flaxling, f'or which I.endcr rcquircti insurunrc. This insurunce shull bc mu�n�nincd in thc nmounts and fi�r thc periodx
<br /> thut [.endcr requircx. Thc insuruncc carricr provlding thc insurancc ��iull U�chu+�n b}• IIarrowcr�uhjc« a� l.cndcr's .�pprov�d �
<br /> which shall not bc unrcasonably withhcld. If Borrowcr fails to maintain wveragc dcscribcd +ibi�vc, l.cndcr muy, at l.cndcr's
<br /> optinn,ubtuin covcragc to protcct L.endcr's rights in thc Property in accordttncc with pnrugraph 7.
<br /> All insurancc policies and renewals shnll be acceptuble to L.ender und shull include a stundard mortgage clnusc. Lcnder
<br /> shall have the right to hold the policics and renewuls. lf C.endcr requires, �orrower shall pramptly give to Lvndcr ull receipts of
<br /> paid premiums nnd renewa!nutices. In tlie event of l�ss,Borrower shull give prompt notice ta tlie insurance curricr and Lender.
<br /> I.ander may make proof of loss if not made promptly by Borrower.
<br /> Unless Lendec and Borrou•er otherwise agrec in w•r.iFing,insurance praccxds shall be applicd to restaration or.tepair of the
<br /> Propeny dama$ed. i.f thr,n:�tor�zion or repair is econ,omica![y fetisible and l.ender's s,ecurity is not lessened.If ttr,e restoration or
<br /> rcpair is not 000nacnically feasibl�:or Lend�:r's suarity w�ould be lessened,the insucance Qroceeds s�eall be applied ro the sanu
<br /> secured by thfs Se�.-'�riiy �nsaat'r.ent, whet'��r or noc them due. with any excess paid to 1lorrower. HE Borrawer ebandons the
<br /> property, or de�ea .r.±vt xns-�rr within 30 days a notice frem l.ender that the insurance carrier has offered to settle a claim, then
<br /> Ler►der may cc!!�� the +:�:�:,rnr-re praceeds. Lender ena,y use the proceeds to repair or rcstore the Property or to pay sums
<br /> socured by tliis 3�:urfty Ins:r.�n:ent, whether or not then cHae.'II't:e 30-day pedod wilA begin when tiie notice is given•
<br /> Unless L°:�3�:r ond Borrower otherwise agree in w�aaC's:Ls;, anY aPP[iration of prr,�.�t�ds to principal shall not extcnd or
<br /> postpone atie�::z�late of thc monthly payments referrod cp'��r.:;aragra}��as 1 and 2 or sC�ange tC►e amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender. li5arrnwer's r�;,'.'�a any insuramc�I�o���r'��-''``�Pr°�ecds resulting frocm,
<br /> damage to the Property prior ta the acquisition shail}�z>�c�3.ender to the extent of rtFee sluns seeaa:a b,-:his Securi:ry Instcument
<br /> immediately prior to the acquzsition.
<br /> 6.Oocupaney,�'resecvs►tion,hfafur,�oce and Protection ai the Property;Hlorrower's�nn APP�icatiun;I.eaSelwlds•
<br /> &�rrower shall occupy,estabiish,end usr:c}ce Property as Borcower's principal residence within si�cry days after the execution of
<br /> this Security Instrument and shall oontin�ac Ro�occupy the Property us Bonower's principal residence for at least one year after
<br /> t'�e date of occupancy,unless Lender otherwise agrces in writing, which wnsent shall not be unreasonably withheld, or u�iless
<br /> sxi�as�teng �ircumscanees e�st which are beyond Borrower's control. Bonower shall not destroy, damu8a ar impa�� �e
<br /> property. alluK the Property to deteriorate, or commit waste on the Propercy. Borcower shaii bc it�dei'dt�ti 'sf an� fodsit�rH
<br />-,� action or prcx�d'sng, whether civit or criminal,is begun that in i.ender's goad faith judgment coutd result in forfeiture of the
<br /> Property or Athetwise materially impair tho t[en create�by this Securiry Instrument or Lender's securhy interest.Bo�re+ower may
<br /> eun�ueh a default end ceinstate,as provlded in parugcaph 18. by causing the aetion or proeeecling to be dismissod with a ru�in8
<br /> that, in Lender's good faith determination, precludes forfeitute of the Borrower's Interest fn the Property or othar material
<br /> impairment of the lien created by this Securiry Instrument or Lencler's security interest. Borrower shall also be�in default if
<br /> Borrowa,dtuing th�toan application prooess,gave materislly falso or inaccurate inforniation or statetnents to Ltnder(or failod
<br /> to provide I.onder with any material informntfon)in connection with the loan evide►ked by the Note,ineluding,but not limitod I
<br /> to. c�presentations concerni�g 13onower's occupancy of the Property es a principal nsidence•If this Security Instrument is on a
<br /> Icasehotd, Borrower shall campiy with all the pravi�ions of the lease. If Borrowa� acqplres fee title to the Property. the
<br /> �easehold s►nncl the fa tide shall nc►t mergo unless Lxrxler agrees to the mergcr in writing.
<br /> 9,prot�ctbn oi I.ender's RtBhts in the Prope�ty.xf Bonower fails to perform the covenants and agraments conwinod in
<br /> this Security Instrument, or there is a legal procceding that may significantly affi:ct C.cnder's rights in the Property (sur,h ss p
<br /> pr�ceating in bankrupccy, probate.for conclemnation or forf iture or to enforce laws or regulaHons),then L.ender may do and
<br /> pay for whatever is nocessary ta pratect the value of the Propeny and Lender's �ights in the Properry• T-ender�s actions may
<br /> icaelude pxying any sums socured by a lien which has prioritv over this Security Instniment, appearinB in coun, paying
<br /> reasonable attomeys'fees and entcring An the Property tu mak�repairs. Although Lender may take action under this patagrapb
<br /> ?, Lender d�es not have tu do so.
<br /> Any amounts dfsbursed by Lendtr under this paragraph 7 shall btcome additional debt of�orruwer secure�by this
<br /> Security Instcument. Unlrss Borrower and L,ender ag»ec to other tcrms of payment,ti�ese emounts shall bear interest from the
<br /> date of disbursernent at the Note rate and shall be puyable. with interest. upon notice from Lei►der to Bonower requesting
<br /> I�Yment.
<br /> 8,MortgAge Ittsurance.If Lender required mortgage insurance as a condition of making the loan secural by this Secunty
<br /> Inst�ument, Borrower shxll pay the premiums required to maintain the mortgage insurancc in effxt. Tf, for any ceason, the
<br /> mortgage insurance coverage roquired by L.e►�der lapses or ceases to be in effect. Sorrower shall pay the premlums required to
<br /> obtnin coverege substantially equivulent to the mortgage+nsurance previously in ellect,at a cost substandaliy oquivalent to the
<br /> cost to Borrower of the mortgage insuranee previously tn effect, from an altemate mortgoge insurer approved by Lender. If
<br /> substantialFy equivalent mortgage insurance coverage is not availsble, �orcower shall pay to Lender each month a sum equal to
<br /> one-twelftl�of the yearly mortgage insurunce premium being paid by Borrower when the insurance caverage lapsed or c�asecl�o
<br /> be in effect.Lender will accept,use wid retain these paytnents as u loss reserve in lieu of mortgage insurance. Loss reserve
<br /> form 3028 9190
<br /> Pp�3o18
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