201702603 - Laserfiche WebLink

Browse

2� 17�2��3 Borrower)under a�l insuranc�po�ici�s ca�ering the Property, insofar a��uch r�ght�are a�aplicabl�to the co�erage of the Propert�. Lender may use the insurance proceeds either to repair or restore the Praper�y or to pay amouats unpaid under the No�e or this S�curity Instrument,whether or not ther�due. 6. �C�upan�y.Borrow�r sha11 o�cupy, ��ablish, and use the Property as Borro�ver's prin�ipa�residen�e within 64 days after the executian of this Security ins�rument and sha11 continue to occupy the Praperty as BoYrawer's principa�residence for at least one year after the dat�of occupancy,unless Lender determines tha�this requirement shall cause undue hardship for the Borrower or unless extenuating c�rcumstanc�s exist which ar�b�yond Borrower's control. T. Presen►a�ion,Nlaintenanceand Pro�ectianof the Property;Inspectians.Borro�er shall not destroy,damage ar impair the Praperty,a11aw the Property to deteriorate or commit waste on the Pr�perty. BQrr�wer�hall maintain the PrQp�rty in arder to�arev�nt the Property from deteri�rating ar de�reasing in value due ta its condition.Un�ess it is determined pursuant to Section 5 that repair or restoration is not economically feasible,Borrower shal�pramptly repair the Froper�y if damaged to avoid further deterioration or damage. If insuranc�or candemnation proc�eds are paid�n connec�ian �vith damage to th�Froperty,Borrow�r shall�e responsible for r�pairing or re�toring the Property only if Lender has re�eased proceeds for such purposes.Lender may disburse proceeds far the r�pairs and restoratian in a single�a�rnent or in a series of pragress payments as the�vor1�is c4m�ie�ed.If the insurance or c�ndemna�ian proceeds are�aot suff cient to repair or restore the Property,Borro�ver is not relieved of Borrower's vbligation for the completi�n af such repair or restoration. If c�ndemnatian proceeds are pa�d in conneetion w�th the taking of the property,Lender shal�apply such proceeds to the reduct��n of the indebtedn�ss under th�Note an�i t�is 5ecurit}�Instrurnent, first to any delinquent amoun.ts,and then to payment flf principal.�ny application of th�proceeds to the principal sha�l not extend or postpone the due date of the mQnthly payment�or chang�the amaunt of such payments. Lend�r�r its ag��t may r�a��reas��.b�e e�tries�pQr�ar�d in�spect�ons o�f t�e Propert�r.If it�as reasonable cause,Lender may inspect the interiar of the impro�ements an th�Froperty. Lender shall give BorrQwer notice at the time of ar prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Laan Applicativrr.Barro�uer shall be in defauit if, duriag the Loan applicatian pracess, Barrower or any persons or entit�es ac�ing at the direction of Borrower or with Borrower's knowledge or consent gave material�y false,mis�eading,or inac�urate informa�ion or s�atements ta Lender(or fai�ed to provide Lender with material information}in connection with the Loan. Ma�erial representations�nclud�, but are�ao�1im�ted to,r�presenta.ti�ns co�c�rn�ng�orrawe�''s�ccupancy of the PrQperty as Borrower's principal residence. 9. Protectionvf Lender�s Interest in#hs Propertyand Rights Under this Security Instrument.if . (a}Borrower fai�s to perform th�co�enants and agreements contained in this Security Instrurnent,�b� �here is a legal pro��ding�hat rr�igh�sig�ificantl�affect Le�der`s interes�in the Property an�for rights under this Security Instrument�such as a proceedi�zg in bankruptcy,prabate,for condemnation or forfeiture, for enforcem�nt of a lien whic�may attain priority o�er this Security Instrument or to enforce l�.v�5 or�'egulat�ons},or��}Bo�'Qw'er h�s abandoned t�ie Px'operty,then i.en�er may do ant�pay for whatever i�reasonable�ar appropriate to protect Lender's interest in the Property and rights under this Security Instrument,including p�otecting andlor assessing the�a1ue of the Property,and securing andlor �epairing the P�operty.�ender's actions can include,but are not limited to; �a}paying a�xy sums sec�zred FHA Desd vf Trust With MERS-NE 9I3012�1� Bankers SystemsTM VMP� VMP4N{NE)[154fi}.aa Wolters Kluw�r Finan�ial Servi�es Page 6 of#T qD3374��94 4 OZ33 434 0817