201700525 - Laserfiche WebLink

Browse

� 2� 17��525 Barrovver}under a11 in.surance policies covering the Property, insofar as such rights are applicable to�he cov�rage of the Property. Lender may use the insurance proceeds either to repair or re�tore t1�e Property or to pay amounts unpaid under�h��ote or this Security I�st�ment,whet�ie�or not then�ue. C. ��u�ancy.Borrower sha11 occupy, establish, and use the Property as Borrawer's principal residen�e t�vithin 60 days af�er the execution of this Se�urity Ins�rume�t and shall continue ta occupy the Property as Borrawer's principal residence for at least on�year after the date�f occupancy,unless Lender det�rmines tha�this requixement sha11 cause undue hardship far the B�rrower or unless extenuating circumstances exist whi�h are beyond Borrawer's�on�ral. 7. Pre�ervation,l�llaintenanceand Protect�onaf the Property;Inspectivns,Borro�er shall not destroy,damage or impair the Property,allow the Prope�`t�to deteriorate or cammi�wa�te an the Pro��rty.Borrower shail maintain th�Property ia order to prevent#he Property fram de�eriorating or decreasing in�alue due to its eonditian.Unless it is determined pursuant ta Sectian 5 that r�pair or restoration is not ec�nam�call�feasible,Barr�wer shail promptly repai.r the Property if damage�to avaid�iirther deterioration or dama�e.�f ins�rance or co�demnation praceeds are paid in connection with damage to the Pro��rty,Barrower sha11 be re�ponsib�e for repaix-ing ar restoring the Pr�p�rty only if Lender has released proceeds for such purposes.L�nder may disburse praceeds for the repair�and restora�ion ia a single payment ar in a series of pr�gress payments as the warl�is completed. If the insurance or condemnation proceeds are not sufficient to repair or re�tore the Pro�erty,Barra�v�r is not relieved of�orrower's obligation for the compl�ti�n of such repair or restoration. If condemnati�n proceeds are paid in cann��tion�uith the taking of the property,Lender sha11 appiy such proceeds to the reductior�of the indebtedness und�r th�Note and this 5ecurity Instrumen.t,first to any delinquent amounts,and then t�payment of principal,Any applicatian�f the proceeds to the�rincipal shal�not extend ar postpone the due date of the month�y payments ar change�he arnount of suGh payments. Lender or i�.s agent may ma1�e reasona�le en�rie�upon an�inspecti�ns of the property.If it has reasonable cause, Lender may inspect the interior of the improvements�n the Property, Lender shall give Borrower notice at the time of or prior ta such an inter�or insp�ction specifying such reasona�le cause. $. 8orrower's Loan Application.Borrower shall�e in default if, during the Loan application�arocess, $orrower or any persans�r entities acting at the d�rection of Borrower or with Borrawer's l�no�v�edge or con�ent ga�e materia�ly false, misleadiag,or inaccura�e informatian or statement�ta Leader�or fail�d ta provide Lend�r�ith material information}in cannection with the Laan.Material representations inciude, but are not limited to,representations�oacerning Borrower's occupaacy of the Property as Borrower's principal residence. �. Pr�#��ti�n�f L�nd��'�Int�r��st in the Prapertyand Rights LJnd�r this Security In��rum�nt.If (a)Borrower fails to perform the co�enants and agreements contained in thxs Se�urity Instrument, �b� there is a 1ega1 proceeding that might significantly affect Lender's interest in the�raperty andlor rights under this�ecurity Instrum�nt�su�h as a proceeding in bankrup�cy,probate,for condemna�ion ar forfeiture,far enfarcement�f a lien which may attain priority a�er th�s Security Instrument or to enforce �aws or regulations),or(c}Borrower has abandoned�he Property,then Lender may do and pay far whatever is reasonable or appr�priat��o protect Lender's interest in t�e Praperty and rights under this Security Instrument,including prvtecting andlor assessing the value of the Property,and securing andlor repairiag the I'roperty.Lender's actions can include,but are no�limited�o: (a)pa�ing any sums secured FHA Deed of Trust With MERS-N� 913QIZU�4 Bankers SystemsTM VMP D VMP4IJ�NE)(15��}.Q4 Walters Kluw�r Finan�ial Senrices Page 8 of 17 �03364 � �74 v� 3 � as1�