Laserfiche WebLink
� <br /> -- <br /> r -, <br /> �� <br /> 5. Har.�rd ar F�perty Insuratfce. Rorrower shali keep the improvtments now cxisting or hereafter erected on the <br /> Property insured against loss by fire, haza.*ds included within the term "ezttnded covrrage' and any ozher hazards, including : <br /> fl�ads or ftooding, for which Lender requires insurance. T'his insurance shalI be ma�intained in the amounts and for the periods <br /> that L.ender requires. The insurance carrier providing the insurance shal!be chosen by Borrower subject to I.endes's approval <br /> which shall not be unreasonauly withheld. If Borrower fails to maiatain a�verage descxibed abave, Leader may, ae Lender's � � <br /> Gption,ohtain cor•enge to protect Lender's rights in the Property in a�cordance witb.paragraph 7. � <br /> All insurance golicies and renewa�s shall be acceptable to Lendes and sl�ail inclu�e a standard mortgage clause. L.ender r <br /> shall have the right to hold r.he polisics and renewals. Yf l.ender requires,Borrower shail promptly give to�.ender all receipts of � <br /> yaid premiums and renewal notices. In the event of Ioss,Borrower shaU give prompt notice to tho insurance carricr and Londet. .� <br /> Leadcc may make proof of loss i£aot made promp@y by Borrower. ` � Q <br /> Unless Lenaier and Borrower otherwise agree in writing, insurance procetds shall be applied to resiaration or repair of tlte �;J( <br /> Propertv eiamageei, it fhe restoration or tepair is economically feasil�ie and Len�ier's security is not lessened. If the restoration or (� <br /> repair is not er,onom'scalfy feasibie or L.ender's s�urity would be lessened, the insuran�e pmceeds sha11 be applied to the sums R� <br /> se�ured by this Securi!y I�sirument, whethpr or nat thrn due, with any eacess paid to Bormwtr. If Borrower abandons the <br /> Propertty, or dces not snswer within 30 days a notice from I.eader that the inc�tw.+�,ce carrier has offered to settle a claim, then <br /> Lender cnay collect ehz i�surance pro�eeds. Lender �.y use the proc�s to �epair or restore t�� Property or to pay sums ' : <br /> secured by this Sxvriry Instrument,wheth�er or not then dve.The 30-day perio�J will begin whez�the nutice is given. � : <br /> linless Lender ar.d Borrowor otherayisc agr�e in wrftiag, any aFplication of pracads to principal shal! not eztend or <br /> postpone the duc cSate of the moat}ily payments refeared to in paragraphs 1 and 2 or ehange►he amount of tht payments. If under <br /> paragraph 2I the Property is acqai:�cd bJ �..,.°ader, Borrower's right to any insurance poticies and proceeds resulting from <br /> damage to the Property prior to the acc;uisition snaii pass to L.ender to the e�tent of tbe sums secured by this Security Ir.strument <br /> imm�iiately prior ta the acquisition. : <br /> 6. Occupancy, Preservation,Malntenance ana�"rotectian of the Property; Borrower's Loan Appllcatioe; I,easeho[ds. <br /> Borrower shall occupy, estabiish, and use the Property as Borrower's principal residence within sizty days after the ezecution oi <br /> this Security Instrument and shall continue to occupy:he Property as Borrower`s principal residence for at least one year after <br /> the date �f occupaacy,�uiless Lender othezwise agnees in writing, which consent�shalt not be unreasonably withheld, or unles� <br /> e�tcnuating �ircumstance.c ezist which are beyond Borrower's coutrol. Borrowor shalI not destroy, damage or impair the <br /> Propezty, allow t��e Property to deteriorate, or coain�it waste on the Property. Borrower shall be in default if any forfeiture <br /> action nr procee�ling, whether civii a:criminal, is begun that in L.ender's good faith judgment could result in forfeitura of the <br /> �ro�rt�o;ott�erwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower mav <br /> cure such a defaul�aed reinstate, as provided in paragraph 18, by causing the action or pmceeding to be dismissefl with a ruling : <br /> that, in Lender's €ood faith u'etermination, precludes forfeiture o�` n�e Borrower's inie:+:st in the Progerty or other material <br /> impa�rc�ent of the lien created by this Security Iastrument or Lender's secvrity interest. Borrower shali also be in default if <br /> Borrower, during the loan application Process, gave materially false or inaccurate information or statements to Ixnder(or failed <br /> to provide I.ender with any mataria; infortnation)in cannection witb the loan evidenced by the Note, including, but not limited <br /> to, nepresentations concerning Borrower's.occupancy of the Pmpert-�as a principal residence. If this Security I�istrument is on a <br /> leasehold, Borrower shall comply with ail the Yr�visions of the lease. If Borrower acquirr.s fee title to the Property, the <br /> leasehold and the fee title shaIl not merge unless Lender agrees to the merger in writing. <br /> ; 7.Proteci3on of I,ender's Rtghts in the Property.If Borrower fails to perform the covea.ants aRd agreements contained in <br /> � this Security lnstrument, or there is a legal proceeding that may significantiy affect Lender's rights in the Property (such as a <br /> proceeding in bankruptcy, probate, for condemnation or forfeiture or ta enforec laws or regulations), then Lender may do and <br /> '� pa}� for whatever is necessary to proteci the value of the Property and I.ender's rights in the Pro�erty. I.e�der's actions may <br /> include paying any sums secused by a lien which has priority over this Security Instrument, appearing`in court, payl�g, <br /> � reasonable attomeys' fees and entering on the Property to make repairs. Although I.ander may take action under this paragraph <br /> �� 7,Lender does not have to do so. \ � <br /> Any amounts disbursed by Lender undet chis paragraph 7 shall become additional debt of Bonower secured by th[s <br /> Security Instrument. Unless Borrower and Lender agree to other terms oF payment, these amounts shall bear interest fram the <br /> date of disbursement at tlie Note rate and shall be payable, with interest, upon notice from Lender ro �orrower reque,eting <br /> payment. <br /> � 8. Ivlortgage Insurence. If Len�er required mortgage insurance as a condition of making the loan secur.ed by this Security <br /> Instrument, Borrower shatl gay the premiums re�nired to maintain the mortgage insurance in effect. If, for any reason, the ' <br /> r.iortgage insurance ccv�-age required by Lender lapses orceascs to be in effect, BorrQwer shall pay the premiums required to <br /> obtun coverage substantially equivalent to the mortgage insurance previously in effect, at a cost su�stantially equivalent to the <br /> cost to Borrower of the mortgage insurance previously in ef;ect, from ui aitemate mortgage insurer approved by Lender. ?f <br /> ` substa�itially equivalent martgage insurance coverage is not available, Borrower shall pay ro Lender eac;e nt�nth a sum equal to <br /> �:; one-twelfth of Ghe year?y mortgage insurance premium being paid by Borrower when the insurance coverage lapsed nr ceased to ' <br /> l` be in effect. Lender wil!accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss rrserve <br /> Form 3028 ! 0 <br /> ��6RtNE)ts2t21.ot p.�.a or y <br /> INHaIs�� � ' <br /> 1 <br /> % ` k <br /> �'>, �J................... <br />