201505348 - Laserfiche WebLink

Browse

��15�5345 In the eveat�f los�, Barro�ver shall g�ve Lender imrnediate notice by mai�. Lend�r may make proof af�oss if not made promptly by Borro�rer, Each insurance cotnpan�concerned is hereb�authori2ed an�dire�ted to make payment far such IosS d�rectly to Lender,instea�of to Bonower and to Lender jo�ntly.All or any part of the insurance proc�eds may be applied by Lender,at its o�tion,either ta)to the reduction of�he �ndebtedne�s unde�r the Nate an.d�his�ecurity��.�#.rut�ent,first�t�an�de�inquent amounts appli��in the ord�r in paragraph 3,and then to prepayment of principa�,or�b}�o the restora.tion or repair of the dama�;ed Proper�.A.n.y application of the proceed�t�the principa�sha11 n�t extend ar postpane the due date of the monthly payrnents tivh�ch a�e referred�o in paragraph 2,or�hange the amount of su�h payments.Any excess �.nsurance procee�ls aver an amount requi.red#a pay�11 autstanding indebtedn�ss under the l�l�ote and this �e�urity I�strurnent sha11 b�paid to the entity�egally entitled there�fl. In the e�ent af fareclosure of this Security Instrurnent or other�ransfer of title to the Proper�y�hat � ext�nguishes the indebtedness,�.��right,txtle and interest�f]��rrower�n and to insurance p��icies in farce shal�pass to the purchaser, 5. �ccupancy, Preservat�on, IlAaint�nance and Protection of the Property; Borrower's Laan Applicat�an;Leaseholds�orrotiv�r shall o�cupy, �stabli�h, an.d use th�Property as�arrower's principal residence�vrthin sixty days a�er the executian of`this Se�urity Ins�ment��r vvithin sixty days of a later sa�e or transfer of the property}an�sha11 continue�d occupy the proper�y as�orrawer's pr�ncipal r�sidence far at least one year after the date o f occupaacy,un�ess Lender determines that re�uirement v�till c�use undue hardship for Borra�r�r,or unless ex�enuating circum�tances�xist�vhich are b�y�nd Sarrower's control, BorrQwer sha�l notif�r Lender of any extenuating circumstances. Borrawer sha�l nat��mmit�raste ar de�troy, � damage or substantially�hange the Prapert�or axlow t�.e Praperty ta deteriorat��reasonal�le wear a�d tear e�cepted.Lender may inspe��the Property if the�'roperty is vacant or abandaned ar�he loan is in default. Lend�r may take rea�onable actian to protect and preser�e suc�i�acant or aba�daned I'raperty.Borr��er .- sha�€also b�in d�fault if I�orra�ver,during th��oan application praeess,gave materially false or ina�curate information or st�tements to Lender(or failed to provide Lender�vith any rnaterial information)in connect�an with the loan e�iden�ed by the I�Tvte, in�luding,but nQt limited to,repr�senta�i�ns��ncerning . B�rrower's occupancy of the T'raperty as a principa�res�dence.If this Secur�ty Instrument i�on a�easehold, _ B�rtower shat�cam�ly with�he pra�isions af the lease. If Barrotiver acquir�s fee title to the�'roperty,the �easehold an.d f�e title�ha11 nat be merged unless Lender agrees to the merger in�rr�ting. C. �ondemnation.The praceeds of any award or claim for damages,direct or�orxs�quential,in canunection with any c�ndemna�ion ar other�a.king�f any part af the Prop�r�y, or far conveyance in place of condemnati�n,are hereb�assigned and shall be paid to I.ender�o the ext�nt af the fult amaunt of the indebtedn�s�that remains uapaid�nder the N�te and this Securit��n�trument. Lender sha��ag��such prac�eds�o the reduction af the indebtedn�ss under the Note and this Security Instrument, fust ta any delinquen�arnaunts app�ied in the order pr��ided in paragraph 3,an�then to prepayment of princ�pal,An� applicativn of the prQceeds�o the p�in�ipal�hall not extend or post�one the due date of the mo�.th�y payments,which are referred t�in paragraph�,ar chang�the amount of such paym�nts.Any e�cess proceeds aver�n amount r�qu�red to pay alI outsta.nding indebtedness und�r th�N�te and this�ecuri� Ins�rument shalt b�paid to the en�ity 1ega�ly ent�tl�d thereto. 7. �hargestv Bnrrvwerand Pfvtectinnof L�nde�`s�i�hts in th�Prnperty.Borrotiv�r sha11 pa�a�� governmental or municipal charges, fines and impositians that are no�included in paragraph�. F�orro�ver �hal�pay th�se obligati�ns an tim�dire��ly to the entity whi�h is a�ved�he payment. If failure�o pay woulc� adverse�y affect Lender's inter�st in the Property, upon Lender's reque��Borrower shat�prompt�y furnish to Lender rec��p�s evidenc�ng these pa�ment�. �f Barrotiver fai�s ta ma�e�hese payments or the pa�m�nts required�y para.graph�,or fails to perform any o�her co�enants and agreemen��contained in this Security�nstrument,qr�here is a 1ega1 proce�ding that may FHA Mnrtgage WITH MERS-NE Revised 4f95 VMP� VMP4N{NE]�13Q2).44 Woiters}€Iuwer Financial Services q�334�7QOJZ 3 ��3 3 �17 Q41� �ag��