|
.�
<br /> � � e �
<br /> �� - -�V�,;;,:
<br /> . .,«'� �.; {: . .
<br /> . . .��,,-_::_
<br /> . , . - - . . ' . . rr,._-
<br /> . . . ., �., 1�`'1�=',.
<br /> .
<br /> �
<br /> .," ,,n .,, r � . . � � .. N. „ . . . .. ,. ." ��•_�.
<br /> �.., .� .. . ,..::r...yM. ... , • _ `� i -
<br /> }
<br /> 5. Hu�a�rd or Property Insuruncc. R�,rru���cr shall kccp thc improvcr�icil���w��M�fr�Fi�rraftcr crcctcd on thc �-;::.��
<br /> Prciperty in�urcd aguinst Ic�ss hy firo, hur.ards includcd within thc [crm "extcndcd cuvcrngc° und any uthcr hai.��rds, including '' a_°._
<br /> fli��xls or fl�x>ding, for which I.cndcr rcquires insurancc. This insurancc�hull hc nwintuincd in thc amounts und fi�r thc periodti �--
<br /> , that l.�ndrr rcquin�. 'Phc inyurxncc rarrirr�ir��vidine �h� insurancc shall bc chuscn by Burrt�wcr,uhjcrt tu l.cn�cr'� appruvul �`'..
<br /> �•...:..
<br /> :•,; •�` which shall nnt hc unrcasonably withhcld. If Borrowcr fails t� tnuint<<in c:oven��;c dr�crihed abuvc, I..cndcr may, at l.cndcr'ti --
<br /> ,,,M.,rp+�' nption, obtain covcragc to protcct l.cndcr's rights in thc Properry in accorduncc with purugruph 7.
<br /> ,.ti All insurancc policics xnd rencwuls shull hc ucccptablc to I.endcr and shall includc u standurd mortgugc clausc. l.cndcr
<br />� � shall have thc right to hold thc policics anJ rencwals. If L.cnder requires,klorrower shall promptly givc�o L�:ndcr ull receipts of �-
<br />_ i puid premiums und renewul nc�tice�. In the event of lotis, Barrowcr shall give prompc notice to the insurance rarrier and Lender.
<br /> � l.endcr may mnkc proof c,f lo�s if nut madc promptly by Borrowcr. i_ _ _
<br />-, Unless Lender and Borrower othenvise agree in wrilin�, insurunce procecds shall be applieci to restoration or repuir of the
<br /> � �` . Property damaged, if the restoration or repair is econc�micully feusible and Lender's security is not Iessened. If the restoration or �
<br /> � � rcpair is not cconomicully feasiblc or L.endcr's sccurity would bc Irssencd, thc insuruncc proceeds shu11 bc applied to thc sums
<br /> . secured by this S¢curity In�trumcnt, whether or not then duc, with uny exccss paid �o Borrawcr. If Borrower nbandons the
<br /> " . Property, or does not un�wer within 30 days u notice from I.ender thut the insurance curricr has ofFered to setde t�cluim, then
<br /> . ' I.ender muy collect the insurance proceecis. Lender may use the proceedti to repair or restore the Property or to pay sums
<br /> sccurcd by this Sccurily ImU'ument, whether or not thcn duc.Thc 30-day period�vill begin whcn the notice is given. _- --
<br /> - Unless Lender and Borrower otherwise agree in writing, uny upplieation c�f proeeecis to principal shall not extend or -
<br /> � postponc the due datc of thc monthly payments refettcd to in paragraphs 1 and 2 or changc the amount of the payments. If
<br /> under para�raph 21 the Propcny is acquired by l.ender, Borrawer's right to any insurance policics und proceeds resulting from —
<br /> • '� damagc to the Property prior to the acquisition shnll pass to l.ender to the extcnt of the sums securcd by this Security Instrument
<br /> ' immcdiately prior ro thc acyuisition.
<br /> 6. Occupancy, Preservation,Muintenance and Protectlon of the Property;Borrower's l.oan Application;Leaseholds.
<br />" B�rrower shall occupy,establish,and use the Propeny as Borri�wer's principal residence within sixry days after the execution of
<br /> this Security Instrument and shull continue to occupy the Property as Borrower's principal residenee for nt Ieast one year after
<br />� � thc date of occupancy, unless Lendcr othcrwise ugrees in writing, which consent shall not bc unreasonnbly withheld, or unless
<br /> �� ' extenuating circumstances exist which are beyond Borrower's control. Borrowcr shall not destroy, dumage or impuir the
<br /> „�;.—= F�uNci"iy, a{low i�c Prcp�ry t:� �ci�riarate. ar:a:nm's: :ea�:�on '.he PF4�CTI�. HQT!'nw�r�ch:{I1 h� in defaulc if any forfeiture
<br /> � • • ' action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfciture of the
<br />'-" Proper�y or otherwise materially impair the lien crcated by this Security Instrument or Lcndcr's security interest. Barrower may
<br />_ � �° • cure such u default and reinstate,as provided in para�riph I R, hy caucing the action or proceeding to be dismissed with n ruling � _
<br /> ' ,, that, in Lendcr's good faith detcrmination, precludes forfeiture of thc Borrowcr's interest in the Property or other matcrinl
<br />: �.:.,.,•:• impairment of the lien crcated by this Security Instrumcnt or L.cnder's sccurity interest. Borrower shall ulso be in detault if
<br /> Borrower, during thc loun applicntion process, guvc materially falsc or inACCUrate informution or statements to Lender(or failed
<br /> __, � �� ,; to provide Lender with any material information)in connection with the loan evidenced by the Note, including,but not limited
<br /> - tn,representations concerning Borrower's occupancy ��f the Properry a�a principal residence. If this Security Instrument is on a
<br />��f.--.' �'� ' lcaschald, Borcower shall comply with ull thc provisions of the Icasc. If Borrowcr acquires fce title to the Property, thc
<br /> �°;'""' �'.:' Icasehold and the fee titic shull not mcrge unless Lcndcr agrees to thc merger in writing. -
<br /> _:�'v:�,ijf 7.Protection of Lender's Ri�hts fn the Property. If Borrower fails to perform the covens�nts and ngreements contained in
<br />��`'S`�`�-"'- ' this Securiry Instrument, or there is a Iegal procceding that may significantly affcct Lender's rights in the Property (such as a
<br />- , ,o_., ..
<br />- . ..,_,.,;,g proceeding in bankruptcy, pmbate, firr condemnation or fnrfeiture or to enforce laws c�r regulations), then Lender may do and
<br />- pay for w�hatever is ncccssary to protcct the valuc of the Property and Lcndcr's rights in the Yropeny. Lcndcr's actions may
<br /> . , ;y.:':' includc puying any sums secured by a lien which has priority over this Securiry Instrument, appearing in court, paying
<br />--'%r�., rcasonable attorneys' fces and cntering on thc Properry to make rcpain.Although Lcndcr may take uction under this paragraph __
<br /> „ �. 7,Lcndcr docs not havc to do so.
<br /> '--=�.✓'V• "� Any amounts disbursed by Lender under this paragrxph 7 shull become additional debt ot Borrower secured by this --
<br />--- �.....,,.
<br />- =�?�S` Securiry Instrumcnt. Unlcss Borrowcr and Lender a�ree to other tcrms�if payment, thcsc amounts shull bear intcrest from the
<br />__ v.3ry�_...,.
<br /> _-►� • datc of disburscmcnt at the Notc ratc and shall bc payablc, with intcrest, upon noticc from L.endcr to Borrowcr requesting
<br />�•- .�....
<br /> {,;.. payment.
<br /> . S.Mortga�e Insurance. If Lender required mongage insurunce as a condition of making the loan secw•ed by this 5ecurity
<br /> ° Instrument. Borrower shull pay the premiums required to muintain the mortgage insurance in et'fect. If, for any rcason, thc �;u-
<br /> - ntortgagc insurancc covcragc required by Lendcr lapscs or ccascs a�bc in cffcct. Borrowcr shall pay the prcmiums required to �'�
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a co,[substantiully equivalent to the �,�`
<br /> ' cost to Borrowcr of thc mortgagc intiur.►ncc prcvinusly in eff'cct, from un altcrnate ►nortgagc insurcr approved by C.cnder. if �--���,
<br /> substantially cyuivalcnt mortgagc insurcuuc rovcragc is not availablc. Bc�rrowcr shall pay t<� Lcndcr cach month a sum equal to
<br /> onc-twclfth of thc ycnrly mortragc insurancc prcmium bcing paid by Borrowcr whcn thc insurancc covcragc lapscd or ccascd to _
<br /> bc in cffcct. Lcndcr will arccpt, use and retain thesc paymentti as a Ic�ss rescrvc in licu o1' murtgagc insuranrc. Lusti rescrvc
<br /> Form 3028 9190
<br /> Po�e:f�i 6
<br /> . .. ..._._—:.� — -_.. _
<br /> . ___ ........... .. ._. __ ' '
<br /> . ...... . .. .... . . . . . .. . . . .�;r��
<br /> _ _
<br /> � _ --
<br />
|