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<br /> S. 11uaM or Property Irw�n�ce, Borrower shall keep the improvements now existing or riereafter erocted on the
<br /> Property inwred�airut losc by fire,huardc fncluded within the term "extendod coveragc" and any othcn c�wrds,including
<br /> 1loodr or ftc�odin�, for which l.ender rcyuires iruurance. This insunu�ce shafl be maimnined in the amounts and fo�the periods
<br /> that Lender roquirca. 7be incunu�ce arrier pnoviding the insurnrWe shali be chosen by Borcawnr su6jxt to Lender's approval
<br /> which �hall rat be unraisnrubly withheld, If Bormwer frils to n�aintain covenge describcd �b�we, Lender may, at Lender's
<br /> opion,obtain covers�e to protoct C.erder'�ri�hts in the i'roperty in acr,ordance with psro�raph 7.
<br /> All inaurana policies and ronewds shall be acceptable to i..eoder+�nd shall include a stundard mortgage clause. Lender
<br /> rhall have the rial�t to huld the pollcid and renewats. If Lender roquires,Borrowrr siull pmmptly give tu LcnJer aii raroipts uf
<br /> paid pt�miutn�uid cenewtil tatices. ]nthe event of luss,Barrower alWl give prompt txitia to the i�uurance carrier ad I.ender.
<br /> Lender mry rnake proaf of losx if not made promptly by Bormwer.
<br /> Unleu Lender ud Borrowor otherwix agra in writing, insurancx pnxeeds shall te�ppliod lo restoradon or npair of the
<br /> Praperty dattuged,if the restor�tion a rep�ir is econotnically fesaible auf I.ender's securiry is not lessetxd. lf the rostoration or
<br /> rcp�ir ia not ea�nomically feuible or Lender's securiry would ba tessen�i, the fnsurance praccods shall be applial to the sums
<br /> �ocurod by this Security Instrument,whtther or not then due, with any excess pxid to F3ormwer. If Borrower abandons the
<br /> Property, �r does not answu wfthin l0 days a notice from l.ender that the insurance canier hus offerod to settle a claim, then
<br /> I.ender may collat the insunnce procexds. Lenckr may use the proceafs to repair or rcstore tho Property or to pay suma
<br /> �ecured by ttia Savricy inst�un�erK. wl�ether or not dia►due.The 30-day period will b�in when the tatia ia given.
<br /> Unlas I.endet and Bormwer dherwise a�rae in writing, �ny �plicuion of prooeeds to principl sha11 not eatad or
<br /> postpone the due d�te of the monthlp paymenta rofemed to in p�ngraphs 1 and 2 or clunge the �mount of the p�ymaits. If
<br /> uncler p�r�graph 21 th�Pmperty is acquirod by I.erder, Bo�rower's right to�ny insuruwx policies�ncl proceods rawlting from
<br /> damage ro the Pmperty prior to the aoquisition shall p�ss to Lender to the extent of�}k sums securod by this Security Inatrument
<br /> immaiiately prior to the acquisition.
<br /> 6. Occup�nc�,Preserration, Milntmance�nd Protection ot the Property;Bnrrower'a[.o�n Applkatiun; I.asd�old�.
<br /> Bortower ahall oocupy,esublish,and use the Property as Borrower's princip�l raidence within sixty cLys after the execution of
<br /> this Security lnstrument and shall cominue to occupy the Property As Borrower's principal resi�iena for at least Ane year after
<br /> the dete of oavpancy,unless I.ender ottxrwiae agroes in wr�ting, which consent ahell not be unreasonably withheld,or unless
<br /> extenuating circvmstances exiet which are beyond Horrower's control, Borrower shall not destroy, damage or impoir the
<br /> Property, allow !he Property to dateriante, or commit waste on tt►G Property. Boin►wer shall be in defauh if any forfeitun
<br /> �aion or proceeding, whethe�civil a criminal,Is begun that in L.ender's good faith judgment could result in forfeiturc of the
<br /> Property or otherwise materidly impiir the lien crwtad by this Security Insuument or Ltit�der's security intereat,Borrower msy
<br /> nue auch a default and rcinstete,as provided in p+iragraph 18,by causing the action or praceeding to be dismissed with a ruling
<br /> that, in L�xler's good.fxith determimtion, prxludes forfeiture of the Borrowet's interest in tiu 1'roperty or otixr m�teri� .
<br /> imp�irn�ent of the lien created by tliis Say►riry Instrument or L.ender's security intercst. Borrower shelt also be in default if
<br /> Bormw�u,duriaQ thc lo9n appliadon process,geve muerially false or inaccuratc intbrn�ation ar statemeMS w Ltnder(or failed
<br /> w pcovide Lerder with any material information)in oonnection with the loan evidenced by the Ni►te,including,but not li�ited �
<br /> to,represenutiona conceming Horrower's occup�ncy of the Property ss a principel residence. If this Secvrity Iruon�mau is on a
<br /> la�ehold, Borrowa sludl oomply with �Il d�e provisions of the leaae. If Borrowar soquires fa tide to the E'mperty. the
<br /> Iea�dwW and the tae tiUe aiull not m�rge unless Lender agroas to the merger in writing. .
<br /> 7,prolectio�a(A,pder's Rf�b in tbe Property.If Borrower fails to perfortn the covena�nts+ud agreaneats oontained in
<br /> this Savrity Inetrumrnt, or tl�ere is�legd procoeding thu may significaatly dfcet I.ader's r��►ts in tbe PmprRty(wch a a
<br /> pra�eeding in b�nkruptcy, pmb�te. fa cademrution or forfeiture or to enforce laws or rcgulations), then Leader mty do�rd
<br /> pay for whuevu u tboessary to prda.-t the vdue of the Pmperty and Lender's,nghis in the Property. Lender'a aaions ntiy
<br /> include psyin� �ny wma securod by a lien which has prioriry over this Security Inst�ument, �pparing in oourt, pa�ing
<br /> re�onable�uornrya' foex aad auering on the Property to�r�alce re,pairs.Although I.ender may take ution under this par�raph
<br /> 7,l.ender does nd have to do so.
<br /> My amounls di�bureed by L.ender under this paragraph 7 sha11 bxome additiorul debt of Horrower �ocurod by tl�ia
<br /> , Secvrity Imtnunrnt. Unless Borrower ard L,ender xgrx to other terms of paymci�t, t�ese amnunts ahall bar intereat tYom t6e
<br /> .d�te of disburaement �t the Note ra�e and shall be paywble, with interest, upon riotice from Lender to Bnrrovver reque�stin�
<br /> PAYment• , �:
<br /> S.Mdet�e Idurance. If[.erder required moetgage insurana as a oondition of m�lcing the lan socurod by t!►ie Security
<br /> Inttiuma�t. Borrower nhalf pay the premiums requirpd to maintain the mortgagc insurance in effec�. If, for wny rcason, the
<br /> •�, moKgage i�nunnce oowerage required by Lender lap�es or ceases to be in effoct,Borrower shall pay the prcmiums required to
<br /> ..��� abuin ooverage subetamially oquivxknt to the mortgbge insurance proviously in et�'�t,at a cost substantiall� aquivalent to the .
<br /> cost to &xrower of the mortgage imurance previously in effa:t, from an alternote mongage insurer apE►rovod by I.eoder. If
<br /> substxMiall�equivalent mortgage inwrana coverage is�wt availablt,Borrc�wer stall pay to Lender each month a sum equat to
<br /> one-twelRh of the yearly mottgage insuranc�e premium being paid by Be�rrower when the insumnce covernge lapsed or c�eaeed to
<br /> be in effect.Lencier will accept,use u�d rotain these psyments as a loss reserve in lieu of mortgage insur�na. Loss resecve
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