|
• �
<br /> � � '' - �...�� ..._..., _.....�.,
<br /> �� - .:._.,,-_� - -- _ _ - — —
<br /> «�,*_:'. - -- — ---
<br /> �.�{. � �����.0.
<br /> 5. H�rd oe Property Inwr�. Borrower sh�ll kee}� th� improv�mcnts �exi�Alag�r hereatter erected on thr
<br /> Property Insural agdnst tuss by sre. hAZanis included within the tecm "extendod coverage" and any other hazards, includin�
<br /> fiaxl5 or fl�.cxling, for which l.e��der requires insurnnc�. This insurance Khall be muintalneQ!n tha amounts and far the pericxls _
<br /> that L.ender requires.The in.rurunce currier providing ih� insura�ce shull be chasen by Borrower subject to Lender's npproval
<br /> which shall not be unreuso��ably withheld. If Borrower fails ta maintuin caver•rge descrlbcd alx�ve, l.e�xler muy, at l.cndcr's
<br /> opdon, obtajn coverage ta protect Lender's rights In ttie Property ia accordunce with parugraph 7.
<br /> All Insurnnce policies und rcnewuls shall beuce�pi.nble to Lender and shall include a stnndard morigoge clause. Lender
<br /> shall have the right to hold thc palicies and renewals. 1t Lender rcquires.Borrower shall promptly give ta l..ender xll recelpts of
<br /> paid prcmiums and renewal noticcs.In the event of loss,Borrower shall givc prompt iwticc ta the insurance carrier and I.ender.
<br /> Lender may make proof of loss if not made promply 6r HoROwer.
<br /> Unless l.ender and Borcower otherwise agra ira wdsing, insurance procceds shall be applied to restoration or npair of the
<br /> Property datnngod.if the restoration or repair is aonomtcally feaslble cu�d l.ender's sccurity is not Icsscnal.If the restaration or
<br /> repair is not economically fcasible or L.ender's sauriry would be lessened,the insurence proceeds shall be appliod co the sums
<br /> secured by this Securlty Instniment, whether or not ihen due, with a��y excess pald to Borrower. If Borcawer abnndons the
<br /> property,or das not answer within 30 days s natice from Lender that tho Insurance carrier has offercd to settla a claim,thea
<br /> Leader n�ay collcct thc insurance proceeds. Lender �ay use the pmee�xls m i�epafr or reston the Property or to pay sums
<br /> secural by thls 5ecuriry Instrument,�vhether or na thea due.Th�30-day perlod will begin when the nottce is given.
<br /> Unlcss I.ender and Borrower ott�erwise agree !n wrltjng, any appliradon of procceds to principul shal! nat eatend or
<br /> postponc the due dute of the monthly payments referted to in paragraphs 1 and 2 or change the umount of the payments. If
<br /> under paragraph 21 the Property is acquiral by Lender,Borrower's rfght to any insurance policies and proceeds nesulting fram
<br /> damage to the Pc�nperry prtor to the acquisition shall pi+s to Lender to the extent of the sums secured by this Securlty Instn�ment
<br /> immaeiiately priar to tde acquisition.
<br /> 6. Occuprncy,Pceservation,Maintens�nce mci Protection oi the Property;Barrower's Loan Applita�tion;I.easeholds.
<br /> Bnrrower shall occupy. establish,und use�he Propertyas Borrower's pr3ncipal residence within sixty days after the execution of
<br /> this Secudty Instrunknt and shall continue to c�awpy�h�Property as Bnnower's principal residence for at least one year after
<br /> the datc of occupancy. ualess Leixler otherwir,e agrees ir�writing. which consent shall not be unreasonably wlthheld, or unless
<br /> axi�ruat�ng zircurntsnxs exist whi��h :�rem I,r.y�nl Borrower's control. Borrower ahall not destroy. damaAe or impair the
<br /> Property, allow the PrAperty to deteriorate.or corrimit wostc on the Property. Bonower shall be in default it'any forfeiture
<br /> action or procceding,whether civil or criminel.is bcgun thut in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise m�►terially Impair the lien crcated by this Secw9ty Inshument or Lender's security intenst.Borcower may
<br /> cure such a defautt and reinstate.as provided lre puu$rep7i 18� by causing the action or proceeding to be dismissod wlth a ruling
<br /> that, in I.ender's good faith deternunatian, precludes forfeiture of the Borrower's interest in the Property or other materixl
<br /> impairnunt of the lien created by this Secudty inst-cum�nt or Lender's security Inu�st. Borrower shall also be in default if
<br /> Horrower,during the luwi upplicution pracess,gave rrcit�rially false or inaccurate informatton or statements to Lender(or failed
<br /> to provide I.ender with tuty material information)in connatton with the loan evidenad by the Note,includfng.but not limited
<br /> ta,reprcsentations wncerning Borrower's occupancy of the Property as a principal residenct. If this Socudty Instrument is on a
<br /> leasehold, Bomower shall comply with all the provuions of the lease. If Borrower acquires fee title to the Property, the
<br /> Ic�sehold sutd the fa title shall not merge unless lendor agrees ta tha merger in writing.
<br /> 7.Protectton of Latder'a Rights in tbe Prop��. If Borrower fails to perform the covenants and agreemeats contwined in
<br /> this Secudty Instrument,or there is a tegnl proaeding that inay significantly uffxt Lender's rights in the Pmperty (such as a
<br /> �mcxdin� in bankcuptcy,probate, for condemnuic�n or forfeiture or to enforcc luws or reguladqns),then Lender may do and
<br /> pgy for wt�atever is�ssry to pmtect the value of the Property and Lender's rights in the Praperty. L.ender's actions may
<br /> includc paying any sum:, secured by a lien whict�has priority over this Security Instrument. appexring in court. paying
<br /> nasonable aitorneys'fees and entering on thc Pmpeiiy to make repalrs. Although Lender may take action under this paragraph
<br /> 7,Lender does not have to do so.
<br /> Any smounts disbursed by Lender under ihis pa�agcaph 7 shall F�ecome addidon�l debt of Borrower securod by thls
<br /> Securiry Instn►ment.Unless Bonower and Lenda agn�e to other terms of payment.these amounts shall betv interest From the
<br /> date of disbutsement at thc Nnte rate uncl shall be payable. with interest, upon notice from I.Cnder to Borrower roquesting
<br /> PaYment.
<br /> 8.Mortgage Iasurunee.If I.ender required mongage insurance as a condition of�naidng the loan sacurod by this Securiry
<br /> Insuument. Borrower shall pay the pnmiums rcquircd to maintain the mortguge inaurancc in effect. If, far any reason. the
<br /> mortgage insurana coverage cequtred by Lender lapus or ceases to be in effect,Borto�ver shall pay the premiums requited to
<br /> obtain coverage substantially equivulent to the morcgege insurance prcviously in effert, at n cost su�atandelly cquivalent to the
<br /> cost to Aorrower of the mortgage insurance preriously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortguge insurance covenge Is not uvailable.Borrower shall pay to Lender each month�sum equ�l to
<br /> one-twelfth uf the}early mortgage insurance premiuun being paId by Borrower when the insurance coverage tapscd or ceased to
<br /> be in effect. Lender will accept,use und retain thae p�y�nents as a loss reserve in lieu of moctgaga insun.nce. Loss reserve
<br /> Form 3028 8I90
<br /> Pag�3 ot 8
<br /> ------�_-- -- --�;�.-�=��—-- - — ---g ---------
<br /> —� _ -_ ---_-,w_,.,�.�� '_--
<br /> _ - *faa�� � � �
<br /> ��,v. � _
<br /> _. � �
<br /> ..-.���..�.�-�.�-=..r_•� fS9Ri LlM11�A�p,��F °¢ ___ ...�.�t-_ �-r—� —__. ._..
<br /> .-.-�..__... . __-- _ " . __ ._Y�E�YXi�iVC8f6tS�►i _ _ . ____
<br /> -- _r.11SE�[ri7£'ai.�" — _ -'"'—
<br /> _ —_�_______�" --�"i/RYVw�Lii'='=——'__�W.a��-..
<br /> _--.._ -- _______ .���'�.{vI�W��ri,��� - - _-__�
<br /> Ri-R.�?S�+''�'7�T fi"d''+" Ll' ':a�
<br /> _ :�n.uq.�-;��c;� SR7P�Ci1i�i'°"."��i. �. . rwc-c:;: ----
<br /> ,� r
<br /> ':�ix�+�R_��. .�:ra:5i.. ..�t�.•'.r?'�'.fc"�`+;,: " .' � .. �.•.� r_�.i !u.�":�.� —_ .__°
<br />
|