|
. i
<br />periods do leader rbgaires. the iaa�rraace atrtiat poriai.E tfte iaetlrt stiqu be by Bau +r ttaJtjaet tip Leadsrl< "
<br />�pptorat wish aha1J
<br />not be traraloaabiy widtidd. If,Bsnvaier fags b'msaos carerage dtxzibd abdMhee. Leader,tpagr, at .
<br />Le>ailer3 option, o in across with ptr+6 1117.
<br />AU kwwrwa oe pohctes gad reahewds shalt be aceepta6LC b , ad sfidi Jaeinde a txsloQted sdttga8 clauie: Lsedtx
<br />sha8 hart
<br />ft right 10 bold ft policies ad renewals. if it ardor tlequiees, Borto"w alai pnomptiygive 9b Leader alt receipts
<br />'of piid pnealivaas and Mnewd tiolioes. In the event of Joss. Borrvtrer shall give Irrupt 4dice, to the inmrwAm Cartier and.
<br />Lender. Lender may mafke proof of loss if not made y b}► BorMier. .
<br />_— It _ s�ore�tsinty tMa� arrs�ri.�nr...+eF- - -=
<br />the Ptdgerty if thus restotstion or repair is m iordcOy f:W7Ae and Lettderh socuruy is got Ieaaened ff the
<br />_ _resinrattott brwain is. not -- f niisie dr Ienden riecuti�r would be te:semeALthe _ proceeds "be excess p@W to 0>1 after if;
<br />,Bartowfr abandons the Property. or does noe a mm wifin 30 drys a notice from Lender do do de i misace Caner has
<br />offered to settle a claim, tber>i Lender may collect the insunooe proceeds. I,aader may use the poceeds to repair oa reatae
<br />the Property or to pay sages secured by this Security- Lstrumeat. whether or mt that due. lfhe 30-day periiod well begin whoa
<br />the notice is given.
<br />Unless lender add Borrower odterwise agree in writing, any application of proceeds to prias:iptd shelf riot extend or
<br />postpone the due date of the monthly payments reknvd to in paragdghhs 1 and 2 or change the amarnt of the payments.. If
<br />under paragraph 21 the Property is acquired by L ender. Borrower's right to 3hny tnstnance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Imsdmnaht immediately prior to the acquisition.
<br />d. Oecapaa A Pnaervatioa, Matateaaaee ad Protecting of the Pt»perq; N rrawer's Loaa 'Appiieatiaa;_
<br />IeaseboNs. Borrower shall occupy. establish. and use the Property as Bonowers principal residence within sixty days after
<br />the execution of this Security Instrument and shall cmmnw to occupy the Property as Bon ow 's principal, residence far at
<br />least one year after the date of occupancy. unless Lender. otherwise agrees m wrifW& which c o6ent shall not be
<br />unreasonably withlheid, or unless extenuating exist which are beyond Borrowers camtrd. Rorrower shall 1101
<br />destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property_ Borrower alkali
<br />be in default if any forfeitures action or proceeding. whether civil or criminal, is begun that in I.anderls good faint judgment
<br />could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or
<br />Leader`s security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action
<br />or proceeding to be dismissed with a ruling that, in Lenders good faith determination, precludes forfeiture of (he Borrower's
<br />interest in the Property or other material impairment of the lien created by this Security Lhstrament or Lenders'sec city
<br />interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender with any material ird'omtation) in correction with
<br />the loan evidenced by the Note, including, but not limited to, representations concerning Borrowers occupancy of the
<br />Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions
<br />of the lease. If Borto*cr acquires fee tide to the Property, the leasehold and the fee title shall not merge unless Lender agrees
<br />to the merger in writing.
<br />7. Protectfhoa. of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />contained in this- S=dty Instrument, -or there is a legal proceeding that may significantly affect Lenders rights in the
<br />Property (such 4s a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then
<br />Lender cry do ant pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property.
<br />Lenders. actions inky include paying any sums secured by a lien which has priority over this Security Instrument. appearing
<br />in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action
<br />under this paragraph 7, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from the
<br />date of disbursement at the Note rare and shall be payable, with interest. upon notice from Lender to Borrower requesting
<br />payment.
<br />& Mortgage Insurance. If Lender required mortgage insurance as a condition of making the khan secured by this
<br />Security Instrument: Borrower shall pay the prmiums required to maintain the mortgage insurance in ef_`ect. • If. for any
<br />reason, she mortgage insurance coverage required. by Lender lapses or ceases to be in effect. Borrower shall pay the
<br />premiutrs required to obtain coverage substantially equivalent to
<br />the mortgage insurance previously in effect, at a cost
<br />subsmnCnally equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate morn tge
<br />insurer approved by Lender. If substantially equivalent mortgage insurance coverage is nor available. Borrower shall pay to l
<br />Lender each month a sum equal to one - twelfth of the yearly mortgage insurance premium being paid by Borrower when the
<br />insurance coverage lapsed or ceased to be in effect. Lender will accept. use and retain these payments m a loss reserve in lieu
<br />of mortgage insurance. Loss reserve payments may no longer be required. at the option of Lender. if mortgage insurance W
<br />coverage (in the amount and for the period that Lender requires) provided by an insurer apimaved by lender again becomes
<br />available and is obtained. Borrower shall pay the premiums required to maintain mortgage i«urance in effect. or to provide a
<br />loss reserve, until the requirement for mortgage insurance end-, is accordance with any wri.zzen agreement between Borrower '
<br />and Lender or applicable law.
<br />9. Inspection. Lender or its agent may make reasonable entries 'upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an ir-specrion specifying reasonable cause for the inspection.
<br />10 Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />Single Family -- Fannie Stae/Freddie S1ac t %IFOU%t iNSTRUMENT -- Uniform Covenants 9/90 (page : of et pages]
<br />can Lai" saw rams. tee t
<br />to Or0er can 1400,5369393 0 VAX 816791.1131
<br />4
<br />. i
<br />periods do leader rbgaires. the iaa�rraace atrtiat poriai.E tfte iaetlrt stiqu be by Bau +r ttaJtjaet tip Leadsrl< "
<br />�pptorat wish aha1J
<br />not be traraloaabiy widtidd. If,Bsnvaier fags b'msaos carerage dtxzibd abdMhee. Leader,tpagr, at .
<br />Le>ailer3 option, o in across with ptr+6 1117.
<br />AU kwwrwa oe pohctes gad reahewds shalt be aceepta6LC b , ad sfidi Jaeinde a txsloQted sdttga8 clauie: Lsedtx
<br />sha8 hart
<br />ft right 10 bold ft policies ad renewals. if it ardor tlequiees, Borto"w alai pnomptiygive 9b Leader alt receipts
<br />'of piid pnealivaas and Mnewd tiolioes. In the event of Joss. Borrvtrer shall give Irrupt 4dice, to the inmrwAm Cartier and.
<br />Lender. Lender may mafke proof of loss if not made y b}► BorMier. .
<br />_— It _ s�ore�tsinty tMa� arrs�ri.�nr...+eF- - -=
<br />the Ptdgerty if thus restotstion or repair is m iordcOy f:W7Ae and Lettderh socuruy is got Ieaaened ff the
<br />_ _resinrattott brwain is. not -- f niisie dr Ienden riecuti�r would be te:semeALthe _ proceeds "be excess p@W to 0>1 after if;
<br />,Bartowfr abandons the Property. or does noe a mm wifin 30 drys a notice from Lender do do de i misace Caner has
<br />offered to settle a claim, tber>i Lender may collect the insunooe proceeds. I,aader may use the poceeds to repair oa reatae
<br />the Property or to pay sages secured by this Security- Lstrumeat. whether or mt that due. lfhe 30-day periiod well begin whoa
<br />the notice is given.
<br />Unless lender add Borrower odterwise agree in writing, any application of proceeds to prias:iptd shelf riot extend or
<br />postpone the due date of the monthly payments reknvd to in paragdghhs 1 and 2 or change the amarnt of the payments.. If
<br />under paragraph 21 the Property is acquired by L ender. Borrower's right to 3hny tnstnance policies and proceeds resulting
<br />from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br />Imsdmnaht immediately prior to the acquisition.
<br />d. Oecapaa A Pnaervatioa, Matateaaaee ad Protecting of the Pt»perq; N rrawer's Loaa 'Appiieatiaa;_
<br />IeaseboNs. Borrower shall occupy. establish. and use the Property as Bonowers principal residence within sixty days after
<br />the execution of this Security Instrument and shall cmmnw to occupy the Property as Bon ow 's principal, residence far at
<br />least one year after the date of occupancy. unless Lender. otherwise agrees m wrifW& which c o6ent shall not be
<br />unreasonably withlheid, or unless extenuating exist which are beyond Borrowers camtrd. Rorrower shall 1101
<br />destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property_ Borrower alkali
<br />be in default if any forfeitures action or proceeding. whether civil or criminal, is begun that in I.anderls good faint judgment
<br />could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or
<br />Leader`s security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action
<br />or proceeding to be dismissed with a ruling that, in Lenders good faith determination, precludes forfeiture of (he Borrower's
<br />interest in the Property or other material impairment of the lien created by this Security Lhstrament or Lenders'sec city
<br />interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate information or statements to Lender (or failed to provide Lender with any material ird'omtation) in correction with
<br />the loan evidenced by the Note, including, but not limited to, representations concerning Borrowers occupancy of the
<br />Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions
<br />of the lease. If Borto*cr acquires fee tide to the Property, the leasehold and the fee title shall not merge unless Lender agrees
<br />to the merger in writing.
<br />7. Protectfhoa. of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements
<br />contained in this- S=dty Instrument, -or there is a legal proceeding that may significantly affect Lenders rights in the
<br />Property (such 4s a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then
<br />Lender cry do ant pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property.
<br />Lenders. actions inky include paying any sums secured by a lien which has priority over this Security Instrument. appearing
<br />in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action
<br />under this paragraph 7, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />Security instrument. Unless Borrower and Lender agree to other terms of payment. these amounts shall bear interest from the
<br />date of disbursement at the Note rare and shall be payable, with interest. upon notice from Lender to Borrower requesting
<br />payment.
<br />& Mortgage Insurance. If Lender required mortgage insurance as a condition of making the khan secured by this
<br />Security Instrument: Borrower shall pay the prmiums required to maintain the mortgage insurance in ef_`ect. • If. for any
<br />reason, she mortgage insurance coverage required. by Lender lapses or ceases to be in effect. Borrower shall pay the
<br />premiutrs required to obtain coverage substantially equivalent to
<br />the mortgage insurance previously in effect, at a cost
<br />subsmnCnally equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate morn tge
<br />insurer approved by Lender. If substantially equivalent mortgage insurance coverage is nor available. Borrower shall pay to l
<br />Lender each month a sum equal to one - twelfth of the yearly mortgage insurance premium being paid by Borrower when the
<br />insurance coverage lapsed or ceased to be in effect. Lender will accept. use and retain these payments m a loss reserve in lieu
<br />of mortgage insurance. Loss reserve payments may no longer be required. at the option of Lender. if mortgage insurance W
<br />coverage (in the amount and for the period that Lender requires) provided by an insurer apimaved by lender again becomes
<br />available and is obtained. Borrower shall pay the premiums required to maintain mortgage i«urance in effect. or to provide a
<br />loss reserve, until the requirement for mortgage insurance end-, is accordance with any wri.zzen agreement between Borrower '
<br />and Lender or applicable law.
<br />9. Inspection. Lender or its agent may make reasonable entries 'upon and inspections of the Property. Lender shall
<br />give Borrower notice at the time of or prior to an ir-specrion specifying reasonable cause for the inspection.
<br />10 Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />Single Family -- Fannie Stae/Freddie S1ac t %IFOU%t iNSTRUMENT -- Uniform Covenants 9/90 (page : of et pages]
<br />can Lai" saw rams. tee t
<br />to Or0er can 1400,5369393 0 VAX 816791.1131
<br />
|