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<br /> _-- - 9��' ' i1.2'703 a�oa2ai
<br /> �S. N�r�rd ar PropeKy In�urAnce. Borrower shall keep �he imprnvcmcnts now cxisiing or hercafter erected on �he
<br /> • Property inaurcd against lo�s by fire, haxard� Included wlthin the �erm "extendcd covcragc" and any other hazards, including
<br /> tlnods or ilooding, for which I.,ender requires insurance. This insurance shnll t►e mnintulned in the amounts and for the perlods
<br /> that l,ender requircs. The insurance carrler providing tha Insuru�ce ehall be chosen 6y Borrawer subject ta Lender'a �pprovd
<br /> whlch th�ll not be unre�uonAbly withheld. IF Oorrower faila io maln[aln caveragc dcscribcd above, Lender may, at Lendcr'�
<br /> optlon, obt�in coverage to prntect l.ender's righ�s fn the Propeny in eccordance with paragraph 7.
<br /> All insur+ince palieles �nd renewals shall be acceptable tn I..ender and shall include a standard mc�rtgage clause. Lender
<br /> ah�ll h�ve the right ta hold the policle�and renewala. If Lcndor rcqulres,BorrowGr shall promptly give to Lcnder ell recelpts of
<br /> paid premiurru and�enewal noticcs. In the cvent oP loss,Eiorrowcr shall givc prompt notice to,the insurancc c�rricr and Lender. �
<br /> l..ender rruiy m�ke proof of loa�If nol m�de promptly hy Dorrower.
<br /> Unites L,ender and[iarrowcr o�henvisc ngrcc in wrlting, insurancc proceeds shull bc appiled to restoration or repalr of ihc
<br /> Propeny dam�ged, if the restoratlan or repair i�econamtcally feasibie and l.�ndcr's sccurity is not lessenccl. !f thc restoratlon or
<br /> repeir i�nnt economfc�lly feu�ible or Lender's eecurisy would be le�sened, the insurance proc�eds shall ba �Qplied to the sunu
<br /> secured by ihli Security Inatrument, whether or not then due, with any excess pald to Barrower. If Bonower�bandons the
<br /> prc�erty, or doe9 not answer wlthin 30 days a notice from I..ender that the insuranca carrier has offered to settle a claim, then
<br /> Lender rtuiy collxt the insuranc� proceeds. L,ender may use the procads to repair or restore the Propeny or to pay sums
<br /> secured by this Security Instrument,whether or nut tha�due.The 30•day period will begin when Ihe na�ice is given,
<br /> Unless l.ender end Borrowcr atherwise agrce in writing, any application af proceeds to principal shall not ex�end or
<br /> postpone the due date of the monihly paymcnts rcferred to in paragraphs 1 and 2 or change thc amount of the payments. If
<br /> under par�graph 2l the Property i�acquircd by Lender, Borrower's right to any insurance policies and proceeds rcsulting f�oni
<br /> dunage to the Propeny prlor to the xquisitlon ehall pas�to Lender to the extent of the sur�s secured by thi�Security Instn�ment
<br /> immediately prior to the�cqulsitton. �
<br /> 6. Occup�ncy, Praservwtion�Melnteru�nce pnd Protectlon of the Property; Borrower's Loan Appllcatbn;I.eASeholde.
<br /> Borcower shall occupy, estebUsh,and use the Propcny as Borrower'e principal residence within sixty days after the execution of
<br /> this Security Instrument�nd sh�ll continue to occupy the Property as Borrower's principal residznce for Rt leut one ye�r aCter
<br /> the date of occupancy, unless Lender otherwise agrces�n writing, wliich consent shall not be unreasonably withheld, or unless
<br /> ex�eauating circumst�nces exist which a�e beyond Borrower's control. Borrower sh�ll not desuoy, dam�ge or imp�ir the
<br /> Propeny, �Ilow the Property to deterioratc, or commit waste on the Property. Borrower shall be in default if u►y t�rfeiture
<br /> actlon or proceeding, whether civil or criininal, fs begun that ln Lender's good fafth judgment could result in forfeiture of the
<br /> Property or aherwPse rruterialiy impair the Ilen created by this Security Instrument or I.ender's sxurity Intercst. Barrawer m�y
<br /> cure such a default and reinstate,as provlded in paragraph 18,by causing the action or proceeding to be dismisstd with�ruling
<br /> thu, in Lender's goal faith determination, prccludes forfeiture uf the Borrower's interest in the Property or other material
<br /> impalrment of the lien crcated by this Security Instmment or Lender's security interest. tiotrower shul �lso be in dei�uit ii
<br /> Sorrower,during the loan appiication pracess,gave materially false or inaccurate information or statements to l.�nder(or failed
<br /> to provide L.ender with any material information)in conncetion with the loan evidenced by the Note, including, but not limited
<br /> to,repnsentat(ons concemins Borrower's occupancy of the Propeny as e principal residence. If this Security Instrument I�on�
<br /> leuehold, Borcower sh�ll comply with all the provlslons of �he lease. lf Borrower acquires fa title to the PropertY. the
<br /> leauhold and the fa title shall not mcrge unl�ss Lender agrecs to the mergor in w�iting.
<br /> 7.Protatlon of La►der's Rlghts in the Property. (f Sorrower fails to perform the covenants and�graments cont�ined in
<br /> this Security Instrument, or ther� is a legai proceeding that may significantly affect l.Ender's rigbta in the Propeny (auch as a
<br /> proceoding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then I.enda may do und
<br /> pay for whatever is necessary to protect the valuc of the Property and Lender's rights in the Property, Lender's actiona rruy
<br /> include paying �u►y aums sceured by a lien which hu priority over this Security Instrum�nt, appeuing in coun, payina
<br /> rawnable attomeys' fas and enterfng on the Property to make repairs.Although I.,ender may take actlon under thi�pu�gnph
<br /> 7,L.ender does nat have to do so.
<br /> Any amounts disbursed by L.ende� under this paragraph 7 shall become additional debt of Borcower secural by lhis
<br /> Security lnstrument. Unlesa Borrowcr and Lendcr agcee to other terms of payment, these amounts shall beu intereu from the
<br /> dua of dlsburaement at the Note ratc and shall be payable, with Interesc, upon notice from Lender to Borrower reyuesting
<br /> payment.
<br /> 8.MorteAQe Iru�urnnre. Jf Lender required mongage insurance as a conditton of making the loan securcd by this Security
<br /> lns�rumcnt, Borrower shali pay the premlums required to malntain the mongagc insurance In effect. If, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses ar ceases to be In affect, Borrower shall pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurance'prevlously in effect,at a cost substantially equivalem to the
<br /> cost to Eiorrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by l.ender. 1f
<br /> substantially equivalent mortgage insurance coverage is��ot available, Borrower shall pay to Lender each month a sum equal to
<br /> ane-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceasnd to
<br /> be in cffect. L.ender will acccpt,usc and retain thcsc payments as a loss reserve in lieu of mortgage Insurance. Los� teserve
<br /> Fam 30�
<br /> �y dRINE)Ifttsl.o2 r+w a oi e ��
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