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<br /> • .3. H�z�rd or Propersy Inrurwnce. Dorrower shall keep the impravementa now axisting or hereafte�1 iaT3i��c
<br /> Pmperty Inwred ��itut lot�by flra, huard� includeA wi�hin the tertn "extended cc►verage" and uny o�her hu.arde, includin�
<br /> (]oodo�r.^,:odinr, f�r which Lxnder reyufres insurance. 7'hls insur��ce shall be malntalned in the amounts and far�he pericxls
<br /> tfiw L.ender requires, The insur�nce carrier provlding�he insuunce ehall be chosen by Aorrower�ubJect ta I.ender's approval
<br /> whlch eh�ll not be unrcaron�bly withheld. If Borrawer f�lle to meintain cover�ge described above, l.ender may, at Lcnder'x
<br /> opila�,obt�in cover��e to protect l.ender's righta In the F'ropeny in�ccordance with par�graph T.
<br /> All Insuru�ce polici�� �nd rcnew�le ahall be accept�blo to L.ender�nd �h�ll Include a sisu�derd rnortg�ge cl�use. Lender
<br /> shdl have the dQht to hotd the policies u�d renewds.If Lender requirca,Bocrower sh+►II promptly Qive to L.ender�II recelpu of
<br /> puld premiurtu and renew�l noticas. In the event of loss, Porcower ah�li qive prompt notice to ihe insurtnca cercicr and Lender.
<br /> l..cnd�:r rru�y make proof of loos iF nat nwde prom{�tEy by Borrower.
<br /> Unlew Lendcr�u�d Borrower othervviae asret in writins, ituuru�ce proceed�ah�ll be appllod to restoration or rcpalr af tho
<br /> Property darru�ed,if the rcstor�tion or rcpair is ecnnomic�lly fo�sible and L.ender's security is not lesaenrd. if the rostarAtion or
<br /> r+ep�ir ia not ecanomically fwible or l..ender's secudry would be leuened, the inaur�nce proceeda ahall be applied ro the eums
<br /> securad by thia Security Inatrument, whether or not then due, with any excess pud to &�rrower. If Horrower obandons the
<br /> Pmperty,or das not answer within 30 days a noti�e from Lender that the insurana currier has offcrcd to stttle a claim, then
<br /> Lender may collect the insurance procec�da. L,ender may use the proceeds to rcpair or restorc the Property or to pay sums
<br /> a�ured by tbi�Secur�ty lnstniment,whether or not then due,The 30�day pedod will begin when the nodce is given.
<br /> Unlesa Lender and Borrower otherwiae agroe in wriling, any applicitttion af procads ta princip�i shtll not eatend or
<br /> postpc�tx the due dxte o!'the monthly p�yments referrcd to in paragraphs 1 and 2 or cbange the amount of tha p�yments. If
<br /> under pangraph 21 the Property is acquired by Lender, Borcuwer'a dght to any insurana policies�nd procads niulting from
<br /> dam�ge to the Praperty prior to the acquiaition sh�ll pas ta Lender to the extent of the auma aecurcd by this Securiry Instcument
<br /> immediuely prior to the acquieition.
<br /> 6. Clccup�acy,Preaervatbn,Maintenanee ivad Protectloa o[the Property; Borrowerb LoAn AppUcs�tlon;Leauhdeh.
<br /> Borrower ehall occupy,eatxblish,and use the Property as Borrower'�principal nsidence within sixty daya�fter the ezceudun oi
<br /> thia Securiry Inatrum�nt and shall continue to occupy the Propeny as Borrower'a princip�l rcsidence for at least one year after
<br /> the date of occupancy, unles�L.ender otherwise�reay In writing, which consent shall not be unretwn�bly withheld. or unlaa
<br /> extenwting circumaances exist which are beyoad Borrower's control. Barrower ahall not destroy, damage or impair the
<br /> Praperty, ullow t3u Ptaperty to deteriorate, or cnmmlt wute on the Properry. Borrower sh�ll be ia dtfault if any f�deiture
<br /> action or proceeding, whether civit or criminal,is begun th�t in x.cnQer's good faith judgmont cAUld result in forfeltua of the
<br /> Property or otherwise muerially impur the lien crcated by�his Securiry Inatrument or Lend�er's aecudty interat. Borrower nuy
<br /> cure such a defwlt u�d reinsate,�a provided in paragraph IB, by causing the action or procading to be diamiurd with�ruling
<br /> tb�t, in L�ufer't Qood faith determination, prxludp forfeiture of the Harrower'a interest in the Property or other material
<br /> imQurment of the lien created by this Security lnstrument or I.ender's security intereat. Borrower slWl also be in defu►lt if
<br /> esorruwer,during[he ioaa appliculoa procese,g�ve miterl�lly talse or inaccurate informuion or atuementa to Lender(or faiied
<br /> ta provide L.ender wlth any materi�l iaformation)in connahion with the loan evidencod by We Note, including, but uot limited
<br /> eo,repr�aentations conceming Borcower'a occup�►cy of tt�e Property�s a prinoipal reaidena.If thia Security lnstrument ii on a
<br /> leasehold, Borrower sh�11 comply with all the provisioTU of the leue. Cf Borrower acqui� fa tide to �ha Property, the
<br /> lauehold u�d the fa tide ahdl not merge unlesa Lender agrees to the merger in writing.
<br /> 7.Protatloe oI La4der'a Ri�hts in the Propa�ty. If Borrower faila to perform the covenants u�d�greements contaiaed in
<br /> . thii 5ecudty Imuwuent, or then ia�leg�!procoeding thx may significantly affect Ltader's dghts in the Property(aucb �a a
<br /> pincxdin�in builcruptcy, probace, for condemnuion or forfeiture or to enforet laws or regulatioas), thea Larder mxy do md
<br /> pay far whsteva is neceaary to protect the value of tbe Property �od Lender's rights in the Property,.I.ender's�ctiau m�y
<br /> include payin6 any sums ucurtd by a liea which h�s prioriry over thia Security Instrument, appe�uing in court, paying
<br /> reaanable attornry�' fees and entering on the Property to aake rep�lrs. Although l.�:ader may.�ake action under thia panigrp►h
<br /> 7,Lender does dot have to do w.
<br /> Aay amouata disburaed by L,ender under thi: puagr�►h 7 ah�ll become additiow! debt of Borrower securod by thia '
<br /> Savrity Tnauument. Unlas Borrower and Lender agree to othcr terms of p�yment, thex amonnts shall bear interat from the
<br /> dale of diabursemrnt at the Note rate and shall be p�yable, with interest, upon notia fram Lender to Borrower roqueating
<br /> payment. •• '
<br /> a.Mort�e Insurance,if Lender required raortgage insuru►a u�condition of making the loan seciu+e�by t6is Security
<br /> In�wrnent, Borrower sha11 pay the premiums requlral to maintain thc mortgage insurance in effect. lf, for any ruuon, the
<br /> mortpge.insur�aae wverage required by Lender lapsa or aaaea to be in effxt, Bormwer ah�ll pay the premium�required to
<br /> obuin coverage substanti�lly equiv�lent to the mortg�ge anwrance prcviously in effxt, �t a co�t �substantially equevdent to the
<br /> cou to Bo�rower of the mortgage inaurance previously in effect, from an alternate mortgage inaurer approved by Lender. If
<br /> su�tially equiv�lrnt mortgage insurance coverage is not rvailable,Borrower shall pay to Lender each month a sum equa!to
<br /> one•twelfth of the yearly mongage inaurana pnmium b�ing paid by Borrower when the insurwxe coverage l�pud or cwed to
<br /> be in effxt. Lender will accept.use and retain these payments as a loss reserve in lieu of mortgage insuracxe. Loss reserve
<br /> Forrn 304t 91i0
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