|
�
<br /> ,. - _.. . _ ______. - - --�... --
<br /> _ _ _ _ � .
<br /> �r3�r�.-_,. a_.;.:... ._� - •--.._--_— __ -- —
<br /> • � 98- 11osss
<br /> S. Hr�rd or P�roperty Imwrance. Borrower shdl keep the impruvements now sxis►ing or hereafter erocted on the
<br /> Property insured ��unst lasa by firc, hu.ards inctudai within the term "extendod covenge" uW u►y other huuds. inciudin�
<br /> 800ds or floadin�,for which Leuder requircs insuru�ca This insurance shdl be maintained in the unount�and for the periods
<br /> thu L,ender requircs. The insuru�ce carrier providin� the insuru�ce sh�ll be choeen by Barrower subJect to Lender's approv�l
<br /> which th�ll not be unre�onably withheld. If Bortowr. fail�to m�Intain covenge descdbal �bove, Lender tn�y, at Lender'�
<br /> option,oMdn cover�ge to protat Lender's d6hts in the Property in acr,ordu►se with pu�gr�ph 7.
<br /> All insur�na policia ard renewal� s1Wl be�ccxpt�ble to [xnder�nd sh�ll include� :tandud m�ong��e cl+�use. Lender
<br /> shall have che right to hoW the policka�nd renewal�. If Lender irequires,Borrower ahall promptly give to Lender all receipts of
<br /> paid premiums and rer�w�I naices.In the�vau of loss,Bc�rrower shtll�ive prompt notia to the insuruks curier and Lender.
<br /> l,ender m�y m�ke proof of losa If not m�de promptly by�orrower.
<br /> Unless I,e�Mer u�d Bornowar ahetwise�grce i�wridng,insuruice proca�ds shall be�ppliod to restor�tlon or repair of the
<br /> Propercy dun�ged,if the rcstoruicxi or repair is e�anomlc�Uy fwible uM Lender'e securiry is not leasenod.If the restor�tion or
<br /> repafr ia na oconomic.slly fessible or I.a�der'a sa:uriry would be Isssened,the inaurance proceeda shatl be applied to the sums
<br /> xcured by this Security las[rument, whether or not then due, with �ny exau pud to Bc�rrower. If Borrower�bandoas the
<br /> Properry, or does not saswer witha 30 daya+�notice from I,rnder thu the insurance carrier hu offered to setde a claim, then
<br /> L.eader m�y collect tho imuranx pro�xeds. I,eader may we t6e pnocads to rep�ir or restore the Property or to pay sums
<br /> �ecured by this Security Wtrument,whethar or not then due.The�0-d�y pedod will begin when the notice is given.
<br /> Ualesa l.eader u�d Borrowet othrnvix a�ree!n writin8, mY appliatioa of procxeda to princip�l shaU not extend or
<br /> postpone tbe due d�t� o(the m�nt61Y p�Ymp�ta nfemed to ia Pou�agr�phs t and 2 or chwge the imount of the pAymeats. If
<br /> wMer par�graph 21 tha Property is�cquired by i.ender.Florrower's rigt�t to aay ir,surance policia�nd proceeds rewlting from
<br /> dans�e W the Froperty prior to the�cquisition shW pars to l.ender to tbe eatent of We suma secured by this Secudry Instniment -
<br /> immediiuely prior to the icqui�ition,
<br /> 6.Oceupaecy�Pres�n�tioo. Malnlemnce�ad Prntectloa of the Properb:Borrower's Lwn AppUc�tioat I.erueholdr.
<br /> Borrpwer shall occupy. est�b'lish, and use the Property as Borrower's principal nsidence witl�in siaty days Yflter the execution of
<br /> thls Sacuriry lnurument nd slull oon2inue to oocupy tLe Pmperty�u Bormwer's principal raidence fur�t leau one yar after
<br /> thb due of oc�cupancy. unless Lecukr otbenviae agroes in writing,which consent sdall not be wueuan�bly withheld. or unless
<br /> eacta►wtiu� circumstmca wciu whicii ue beyond Borrcwer's control. Borrower ah�il not destmy. damsge or irnpair the
<br /> Froperty, �lluw the Propnty to detxiorue,or comrait waste ou the t�roNerty. Borrower shali be ln default if wy forfeiturc
<br /> �ctioa or procadinf, wkther civi!or crimiaal, ta begun tbu in [.ender's good fidth judgmeat oould cewlt in forfeiture of the
<br /> Property or otherwi�e m�edally irnQ�ir tbe lirn cruted by this Serurity Iaatnunait ar Lender'a aecuriry inte��,st. Borrower m�y
<br /> cure wcb�defiult nd re�utau�as provlded'w paragry�h 18,by cau:ing tbe action or prooeeding w be diamiued wiW�rulin�
<br /> that. in I.,ender't.good fdth deter�mination. proclude� �orfefture of the Bormwer's interest in the Property or othec m�tai�l
<br /> impairmeot of the iiea ctaten Dy tDis Seciarity Instnimeat or L,a�dcr'� savri[y iaterat. Bonow�er�hiJl tlso 6e in defa�lt.if'. :•
<br /> Borrowa.durin�tbe loaa�pplicatian pmces�,�ave m�teri�lly ftlte or in�ccur�te inform�tioa or stuemena w La�1er(or failed ��
<br /> . to piovide La�det aith smy material informatlon)in oontKCtioa with th�Iwn evklenced by the Note,includinf.but not limited
<br /> to�representatioas oonceroing Born�ver's occupancy uf the Pro�xrly as a principt!nskkact, lf this Securiry Lnuivmeat u on� ..
<br /> � le�,�Lold, Bornower�hall coaaply with d� the provisium of tbe lease. It Borrower �cquic+a fa dtk to the P�+opaty. tbe• _
<br /> ieaeelald aad the ia tiue�uaii not merge umas 1,ecWer ajroea to the merRer ia writlnj. � -
<br /> 7.Proteetbo of I.a+�der'�RISils Ir t6e Prope�ty.lf Bortvwer faili to perform tbe oova�mu�ni�reao�pnK owxained in
<br /> tWs Sa,urity Imtruo�ait.a therc u�IeW Proceedia8 tlut may if6nificiady �ffax I.eMer's ri�hu in the Pe�opeKY (wcb a.a . .
<br /> P��t���y�P��.�cwodemnation or forfeiture or to enfons la�vt or reaul�tions). tba�I.ender may do apd •.
<br /> p�y tor wrh�t�.wer i�neoewry to praect the v�t� of the Properiy wd l.eoder'a righu in tbe Pnopeity. Leader's�ctbm may
<br /> iaclude pryin� �ay wm iecured by a liea whicb has priority over tbis Securiq Lwnunpu� �ppearioa !n oourt� pp,io�
<br /> te�uoonbk�ttotney�'fed�od axerin�on the Pmperty so ma�e�+epain. Altbou�6 I.etder may take actiou w�der tl�L para�t�ph
<br /> 7.Leader doa not har� w do aa.
<br /> Any �mouats didiuned by L,tad�er under t6is pa�r�8raph 7 thall beoome addltfon�l debt of Bor[owet �awced by t6b
<br /> Sa.vrity Imtrumeat.Unleu Bomowa and L+ender agme to otha terma of paymtnt, thae�nwuats�all beu intaat fiom the
<br /> d�[e of dhburtemeat u tLe Nde rre aod sh�ll be payable, with inter�,tt� upon notia from I.er�der w Bormwa tnquativa. .
<br /> WY��•
<br /> a.Matsqe irpu�oe. If Lrender nquirod mortgage inwranx as a curdition of m�kias the Iww secured by this Securfry
<br /> Twtrumeat. Bon+owa sl�Il pay the premit�aa roquirod to m�intain the mortgage insur�nce in etYect. If, for imy reawn,'the .
<br /> awrt�e insut�ooe cov�e r�uired by I.ender lapxs or ceases to be in effax�Borrower ah�ll pay tbe premiva�roquind to
<br /> obtain oovaage sub�tantidly equivaknt to ihe mortg�ge lnsur�na pnviously in effcct,u a co:t subst�atially oquiv�ldu to tbe �� '
<br /> ooac to Horrower of t6e moctg�ge imuranx previously in effxt. from�a alternsue mortgaae insurer approved by 1_�der. Il
<br /> subu�ntially equi�aleat noortgage iawrance coverage is not av�ilable, Borrower slWl p�y to I.tader e�ch month�ai�m eq�i w
<br /> onc•trvtltth of the yaciy mortg�e iasuranoe premium being p�id by Borrower when the inwrenx oovernje l�p�ed or aaied W
<br /> tie in effax.Lender will aocept.use x�f main these p�yuxnta�a a loss reserve ia lieu of mongage inaurana. LASS re�erve
<br /> �d11fNE1�sx�s�.o+ ��w�w t
<br /> �Mw�
<br /> ��
<br />
|