|
. .. • . . ,�„
<br /> :'M- b�.iirQ
<br /> . . , ' � �i • . {.'`i.
<br /> . ' , t� ti�._�� i ,
<br /> 93:so�s
<br /> S. Harard or Ptope�ty Liaeanca. Borrower�hall kap the impmvane�b eaw esitdog or haeatter et�ec�ed aa tb�
<br /> ' Propaty lnwrod�1a�t lou by tiro, hwnd�included wiWn the tcrm'e�tendad covar�e'and any dher hwndi,ie�cludiaj
<br /> floods or flaadin�� ta,which I.endor rcqui�insur�uroe. Thl� inturar�oe�lull bc molntainod in tue wr�ount��nd for Ihe pa�lodr
<br /> thpt L.ender roquirc�. The irauratwe curier ptovidin�the insurance�hdl 6e eha�en by Horrower aubjax w Ladu'�opprovW
<br /> which thWl nat be unrr+eca�ubly withheld. Yf Borrowa fail� to mainta(n covaage described above, L.e�Wer m�y. a l.ender'�
<br /> optlon.obtain ouver�ga to�totect[.endar's righta la the F'r+uperty in Aceordw�ce wlth ppragraph 7.
<br /> All inwnux�e pulkids+nd renewda�II be aoceptable W Lender�nd �hall include a atondard moctgwge claute. Letidar
<br /> shall huvo the dght ta hold the poljcfes and re�xwnls.If L,�eder t+e�uires,Borrower ehall promptly give to i.mder ell roceipts of
<br /> ppid pnmiuma and�rnawW potiees.In tho event of lou,Bormwer�Iud6�Ive prompt notice w tha iawrnnce cArrbr oad I.ender.
<br /> Lendor may makc pnaof'Af lo�if not mAde promptly by Borrower.
<br /> Unlesa Lender and Borrower otherwlsa a��+ee in writing. insurnncx praceeds shall be applied to reswradon or rep�ir of the
<br /> Proporty damaged,if�the restoratbn or repair ir economically tes+sible and Lender's securhy ia not lessened.If tha t�wwration or
<br /> �pair is not eoonort�3cqlly feasible or I.ender'�suurity would be lesaened.the ineurance procaal.s ehall be applied to the spma
<br /> sa;urcd by thie Secutity Insaument, whether or aot then due, with any eacess paid ta Borrower. If Borrower ebondorw thc
<br /> Property,or does not enswer wfthin 30 dayc a natice from l.ender thst the insurance e�+rrier has offered to settle a claim,ttun �
<br /> ,,� Lencter trwy cotlect ttrt insurance proceeds. Lender may we tlie proceeda w rr,pair or restore the Prope�ty ar W pay�ura9
<br /> �':�: ; '�' , socurod by this Secudty Instrument.whether or not then due.Ti�e 30�ay periad will begin whe�the notice is given.
<br /> Unless Lender aqr! Borrowcr othanvise agrce in writktg� any applicaUon of praceeds w principal shall not eatend or
<br /> ' �•"' � pastpane the dua dat¢•of the monthly payments rcferted to in paragraphs l and 2 or change the amount of the payments. if
<br /> ''� under paragraph 21 the Property is acquircd by Lender,Bortower':right to any insurencxx ppliciea ond proceeda�esulting from
<br /> �' _- - .. `'.i:�r, , � damwge to the Property Prior to tho acquieition�huil pass to Lender to tbe exteni of the�ums secured by lhla Security Instnunent
<br /> � � ��r ' '��;; immodiately prior to the acquisition.
<br /> �"• ' �;��'.�,"���'~ t ��`'a�;`�;:�. � 6. OCr11�Aqt'�r�PI�RCI'YYI�OtI.M�intenance Aad Pratection of the Property;Borrower's l.oup Applicatioa; I.easeholds.
<br /> :.�,::;..,
<br /> A:v�..r:: 5..:3.'. .
<br /> :•.•f� •� �S�;; ..�'�:;::'.:u,: � eorrower shall occupy.establish,end use the Property as Horrower s principal residence wlthln sixty days atier the execuaon of
<br /> t;+.�;�`;',� },r,�,;r.v;t:s��:1��;r�,�1,�'_:�, this Socudty fastrumsnt ar�d shall continue to occupy�he 1'roperty ae Borcower's princlpal residence for at least one year after
<br /> S1`�;.�f`'�' `��'� �`dh:� :' � the date of occu unlecs[.endar otharwisc rees in wrlting,which consent shall not be unreasonabl wlthheld,or unless �""
<br /> �� � r1�.;,,::.y1.s�;:�tt}. ,;tM�)�t ' P�9• aB � Y •,,
<br /> ,• ., �- °:��r;.,t;N:;_ .���-;::,,�5:� � extenuating circumatances exist which are beyond Borrowers control. Horrower shall not destroy. damage or impair the i�.,
<br /> ..':s�, •��'•��..�•�.''``���'�:, Proparty, allow tha Ptoperty ta deteriorate. or commk wasie on the Praperty. Harrawer shau be in default if any forfeitu�e
<br /> ". . .. : •�. ,�v:�.� ,
<br /> �•� :::..� z i. ' , ..; ,�:� ;,. ,
<br /> :,,,:: ..,.\�, :,,;,, t� action or proccediag, whether civil or criminal, is begun th�t in Lender s goad faith judgment cauld result in forfeiture of the
<br /> ,.,�:'. . ;a;��.�;.;. . ..,�t`r'". Property or otherwise materially impa�r the lien crosted by this Secur�ty Instrument or Lender's serurity interest.Borrower may
<br /> , _.,�,J�;:.,,. • -
<br /> •,;�:,:;,,; }, ... cu r e such a d efault�and reinstate.as provlded in p a r a gre ph 18, b y causi n g the action or proceedin g to be dismissed wilh a ruli n g
<br /> • '�` �`'r� }''j"�� ti�at, iiy I.�ndar's�i t'aith detenninaiioo, precludes forfeiture of ihe Rarrower's inierest in the Property cs:other maier�al
<br /> •,.��,;:: . , .
<br /> • �• � • impairment of the fi¢u creatod by this Securi�y Instrument or Lender's secudry interest. Borrower ahell also be in default if
<br /> ' . `� . , � Burrower.du�ing ths Joan application pracess,gave materi�lly false or inaaumte inforn�ation or statements to L.ender(or failed
<br /> � � to provida Lender with any material information)in connectioo wi�h tha loan evidenced by the Note,including.but not limitad
<br /> ta.representationx mnaemi�Borrower's occupancy of the Propeny as a pdncipal residence.If this Secudty Instrument fs on a
<br /> '' � leasenold, &►rmwer slwll rnmply with all Ihe provisions of the leasc. If Borrower ecquires fce title to thc Property, the
<br /> �` ,. le�sehold end tlxt fee tide shell not mergc unles.c I.endcr agrees to thc merger in writing.
<br /> , � . ' ' 7.Protection of•I.ender's Rights in the Properly.1P Borr��wer fuils t.►perform the covenants nnd agrameMs contained in
<br /> , , „ ; ,; this Security Inntrumsnt, ur�here is u Iegul procceding thai muy significunUy affect I.ender's rights in the Property Isuch as a
<br /> .� ' praoeeding in b�nfcruptcy, probate. fur condemna�ion or forfeiture or to enforre lawh or regulationsl, then Lender may do and
<br /> f a for whotever ix�necessu to rotect the vulue of�hc Pm n ond l.ender's ri hts in the Pro n L.ender's actions me
<br /> P Y ry P Pe Y B Pe Y• Y
<br /> ��� • . � . include paying nny.sums secured by u lien wBirh ho.ti pri�irity over thi� Securily lnstrument. uppearing in court. paying
<br /> j• � re�sonable uttorn¢ya' fexs and entering on the Propeny to malcc repairs.Althcwgh Lender may ttike action under this parag�ph
<br /> 7.L,ender docs not Fwvc to do sa.
<br /> � ' Any amoun�9�disbu�s�ed by I.ender under this pamgraph 7 shall become udditional debt of Borrower secured by this
<br /> . � Security Inetrumant. Untec:s Normwer�nd l.ender agree tn aher tcrms of puyment, these amcwnt+shall beur interest from the
<br /> � dato of disbunemont�atth�Note rate and shdl be payabk, with interest, upon noticc from L�:�u1er to Borrower requesting
<br /> payment.
<br /> . 8.Mort�ge lt�urante. If Lender reyuircd mortgage insurunce�.ti a cnnJiti�►n of nwking the loan cecured by this Securiry
<br /> - r. •. Instnrment, Borrower shall pay the premiums required to m�intain thc mongoge in,urance in efPect. If', fur any reason, the
<br /> ' • .. mongage insuranae coverage required by L.endcr lapse+or�ruses to lx in effitt. &irr��wer�hull pay thc premiums required to �'�'��`�
<br /> � ot►tain eoverage subntantially equivalent to the mortgage imurance previously in rffect, ut a cotit.ubstuntiully equivolent to 1he °�
<br /> f. � ' cost to Borrower of th�mongage insurance previoucly in eftcri, fr��m an uliern•r�r mi►n�age in,urer appmved by L.ender. lf �;•r�
<br /> ��,'.
<br /> subuentially equ�inlent mcxt@aFe in�urance co�erage iti nat n�•ailublc, &�rrawer shall pay to l.cnder rach month a sum equal ro c
<br /> � "� one-twelfth of tM:ycarl��mortgage insurance premium heinE puiJ hy BnRC�u•cr u�lxn thr in,urance roverage Inpsed or cea.sed lo
<br /> i .: , ��' . , be in effect.l.emfar will accept,use and retuin these paymen�� ux u las+ roxrve in lieu of mortgage insurunre. [.osc reserve
<br /> t :, �� . '� Form 3028 9/90 '�.
<br /> � �` . Pq�3 of 8 ( .
<br /> I . .
<br /> r • ,
<br /> � � ' f
<br /> � . �. �; � - " • � . .
<br /> � — ._.. ._ ..y�. , .,... . . .. .._ . _ _ , �
<br /> , i . . .
<br /> ---'`-- '"�'-i---. . ,. .. _
<br /> - -g--�-----:s._._.. . . . . .
<br /> ���,;_•.,�.. .• .
<br /> -- l,, ;�,��,<:r'.'1• ' � I.' '. `fy('.•'�; ::. . ,
<br /> � f'it,�:/ : �p� ':i � 'i}�.'t:,y: � :•
<br /> �;�
<br /> ��: �y;' �i �r 1� l t �.• , - � , i , , .
<br /> �Z� •Y M � a. '��V1,'�1: !11 ��1` . _ . � . ' ���, - � � ' . ..
<br /> ' 3 �lh•��� J � ` .��� '. � ' ' , ' ,�1. ' 'r .,. � '' .
<br /> �I , ' " � ' � - � �.� � . � � . . , , . . , �
<br /> I`_ ` , _ ` ' ' : �y\i' . .�' �
<br /> �' .` .a � . �,��.''', .
<br /> � ♦
<br /> f t
<br /> , �
<br /> • �
<br />
|