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<br /> 99^ 3C�0104
<br /> 5. Hazard or Property Insurance. Borrowcr shall kcep thc improvemcnts now cxisting on c�rcnRer crected on thc
<br /> Property insured against loss by fire, harnrds included within the tenn "extended coverage" and any other hazards, including
<br /> floods or floociing, for which L.crider rcguires insurancc.This insurancc shall bc maintained in thc amounts and for thc periods
<br /> thut Lender reyuires. The insuranec carrier providing the insur:►nce shnll be chosen by Borrower subject tc� l.ender'c approvnl
<br /> u�hich shail not bc unrcasonubly wilhhald. If Bc�rruwcr(ails to maintain covcragc dcscribcd nbnvc, Lcndcr may, at Lcndcr's
<br /> option,ohtain coverage to protect L.ender's rights in the Property in s�ccordanre wi�h paragraph 7.
<br /> All insurance palicics and renewals shall be acccptable to l.cnder,md shtdl include ii s�andard mortgagc clause, l.eixier
<br /> shall huvc the right to hold thc policics and rencwals. If l,cndcr rcquires,Borrowcr shall �rrnnpUy givc to l.cndcr ull rcccipls of
<br /> n,���i nr��»�u�„�ancl rei�ewal notices. In the event of loss,Barmwer shall give prompt nntice to the insurancD currier aixl Lendrr.
<br /> Lcixlcr muy muke pr�x,f.�f luy, if not madc prompQy by tiurrowcr. _
<br /> Un�ess l.rndcr uixl�3orrower othcrwise ugree in wrl�ing,insurance prcxec�ls shall t►c upplicci to re�torrtion or repuir��f thc
<br /> Pr�perty damagecl, if thc restoration or rcpair i�economically teasible and L.endcr's sccurity is not Iesuned.If the restoration or
<br /> repair is not economically fca.eible or l,ender's security would be Icssened, the insurancc prixeeds shull be applied to�he sums
<br /> secured by this Security Instrument. whethcr or not then duc, with uny excess paid to Borrower. If Burrow�r abarxlons the
<br /> Prapeny, or does not answer within 30 days a notice frmn i.ender that che insurance carrier has offerc�i to setde a clnim, then
<br /> Lender ma.y cullect .iie lnsu�ance proceeds. Le►xier may use the proce�cds to repair or resrorc the Propeny or ta pay sums
<br /> srcured by this Security Instrunxnt, whether or not then diie.The 30-day period will begin when the noticc is given.
<br /> Unless I..ender nrxl 8ottawer otherwise agree in writing, any application of proceecis to principal shall not extend or _
<br /> postpane the due date of the monthly payments referred to in paragrnphs 1 and 2 or change the amount of tha payments. If
<br /> under paragraph 2l the Property is acquireci by Lender,Borrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lerxler to the extent of the sums secured by this Security lnstrurnent
<br /> immediately prior to the acquisition.
<br /> 6. Occupancy, Prestrvation,Ma(ntenxnce and Arotection ot the Property; Borrowtr's l.oan Applicntion;Leaseholds.
<br /> Borrower shall occupy,establish,and use the Property as Bortower's principal residence within sixty clays after the execution of
<br /> this 5ecurity Ir.strument and shali continue to occupy the Property as Borrower's principal �esidence for at least one year after
<br /> the date of occupancy,unless Lender othenvise agrees in writing, which consent shall not be unreasanably withheld,or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Propecty, allow the Property to deteriorate, or commit waste on the Property. l3orrower shall be in def•rult if any forfeiture
<br /> ac[iun or proceeding, whether civil or eriminal,is begun that in Lender's good faith judgment coutd result in forfeiture of the
<br /> Property or ottierwise ma[erially impair the lien created by this�ecurity lnstrument or Lender's security interest. Sorrower may �
<br /> cure such a default and reinstate,as provided in paragraph l8,by causing the xtion or proceecling to be dismissed with a ruling
<br /> that, in l.ender's �oad faith determination, precludes forfeiture of the Borrower's interest in the Propeny or other matcrial
<br /> impairnient of the lien created by this Security Instrument or L.ender's security interest. Bonower shall also be i�default if
<br /> Borrower,during the loan appl�cation process, gave materialiy talse or irtaccurate iniortnation o�statements w I.cnuer(ur i•siid
<br /> to provide l.ender with ar►y material infor►nation)in connec[ion with the loan evidenced by the Note,including,but not lin��.ed
<br /> to,representations conceming Borrower's accupancy of the Pro�erty as a principal residence. If Ihis 5ecurity Instrument� on a
<br /> leasehold, Borrower shall comply with all the provisions of the le�. If Borrower acquires fee title to the Prop�.ty, the
<br /> leasehold and the fee title shall not merge unless Lender agrecs to the merger itt writing.
<br /> 7.P�rotectan of l.ender's Rights in the Property.If Borrower fails to perfomi the covenants anct agrer,ment� contained in
<br /> this Security Inswment, or the�is a legal proceeding thae may significandy affect Lender's rights in the Pra erty(such as a
<br /> procezding in banl:ruptey,probate, for cundemnatiote or forfeiture er to enforce laws or regulatiuns), then I ,nder may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. 1 nder's actions may
<br /> include paying any surtu secured by a lien which has priority over this Security lnstrument, appe�.�ng in court, paying
<br /> re�sonable attorneys'fees and entering on the Propeny to rn�ke repairs. Although Lender may takc x'.on u►xier this Qawagraph
<br /> 7, Lencler does rat have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additiunat debt ,f Borrower secured by this
<br /> Security Instcument. IJnless Borrower�nd Lender agree to other terms nf payment, these amo�,its shall beu interest from the
<br /> date of disbursement at the IVote rate and shall be payable, with interest, upon notice fror, Lerxier to Borrower requesting
<br /> payment.
<br /> 3. 4lortg�ge Luurance. if Lender mquired mortgage ins�erance as a conciition of�n�.ing the loan secured by this Security
<br /> Inswment. I3orrower shall pay the premiums requir�i to n�.tintain the mortgage insv ance in effect. If, for any reason, the
<br /> moctgage insur.uice coverage required by Lender lapses or ceases to be in effect, Bor�wer shail pay the premiurru required to
<br /> obtain coverage substaniially equivale�it to the mortgage insurance previously in eff ct, at a cost sub�t:uitially equivalent to the
<br /> cust to Borrower of the mortgage insur:uue previousEy in effect, from aci altem•.e mo�Ygage insurer approvecl by l.encie►•. if
<br /> substantially equivalent mortgage insurance coverage is not av;iilable,Borrower ,nall pay to Lender each manth a sum equat to
<br /> one-Ewe{fth of the yearly mortgage insur;uice prenuum being paid by &irrower xhen the insur,.nce coverage lapsed or ceased to
<br /> be in effect. Lender will aceept, use and retain these payments as a loss rese•�e in lieu of mvrtgage ir.surance. L�ss reserve
<br /> Form 3028 9/90
<br /> . P:n;e 3 0!6
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