|
.. FrCr.' �
<br /> - ��, ' '�f � ��R� � _ .�i
<br /> _�._: . _�,� � 94� �o1i75
<br /> -- � � S. N�tsrd or Property Ia�uraac.�. Horcower ehall kap the improvernente now e�IatinQ or henuttor ercctad on
<br /> the Property inaurod a�inet laee by tiro,haz�rde Included within the tarm "extended covenee'and�ny other h�z�rde,
<br /> includin�itoode or Q�adin�,for whIch I.ender requi�ee Insurxnce. Thia ineunncd eh�ll be maintained in tha�mauna
<br /> . and tar the parlods thst I.endec requira.The ineurance carrlor providin tho inaur+�nce sh�ll bo choeen by Jiorrower
<br /> _ — �ubject to I.ender'�spproval which stull not be unraan�bly withheld.If�rrower tail�to mainutn cavenRe dacribed
<br /> above,Lender msy,�tt I�nder'�option�obtain covea�e to protxt Lender'�ri�hu in the Property in wcordance with
<br /> � � ra ph 7.
<br /> � t•' � AII ineuance policIea�nd renow�ls shdl be accepuble ta l.ende�and shall include �etandara mnrt�a�e clau�e.
<br /> , Lander �h�U have the ri�ht to ho1J the policia�nd ronewde, If l.endertequires, Borrower ehall promptly �ive w
<br /> ' ••�+F•'r.�--.. l.ender all receiptn otp�id premiuma and ronewal n�tiea�.In the event nt la+e,&�rrawer ahall give prampt nntiu+to the ,. ._:_,__._
<br /> '� �."'"T�3` iruunnce carricr a�d Lender.Lender miy m�tie prnot o!loes ii not muie promptly by Bormwer.
<br /> . .,y,.,�,t
<br /> f ��?.'.';.�'.' Unloes Lender and Borrower otherwiee iQree in writin�,ineunnce proc4ede sh�ll be applied to rostoratiun or rep�ir
<br /> -- ��wF���''""'t`•"�. of the Property dam�Yed,If the reetoratton or rop�ir Ie economically ie�sible and I.ender's sacurtty ts not leseened. It thc -
<br /> ��,_,dkw'!?r?'%!'� raetoradon or repair is not xonomically feaslbloor Lender's sr,eurity would be les�ened,the tnsurance proceeds ehall be
<br /> ----".�.>.��..•.,,'.`...•, applied to the sums sxured by this Security Instrument,whether or not then due,with any exceaA paid to 13orrower.It �--
<br /> �����=_.__=_-��.-..�a,..a Borrower abandons the Property,or does not answer withtn 30 days a notice from I.ender that the inaurance carrier has
<br /> — ���::.:,..._,'.:.�.. ,� ..>:' oftered to settle a claim, then I,ender may w(lect the insurrnce proceeds.Lender may use the proceeds to repair ar ---- --- --
<br /> '��fj�' ; ° � rcatore the Property or to pay eume sxured by this Sccurity Instrument,whether or nat then dud.The 30-dsy period will —
<br /> � µ �� � � be�in when the aotice is given.
<br /> ��;tq�:,�.�,�` _. ;..: . Unless Lender and Hanower otherwise a�rce in wrttin�,�►ny�pplication oi proceeds to principel shall not extend or ---�---
<br /> � � postpone the due date of the monthly payments refened ta in para�raphs 1 and 2 or chan�e the amount of the psyments.
<br /> ,�,Y,_;. _. , . �-'° � Ii under para�caph 21 the Property is acquired by l.,ender, Borrower's ri�ht to any insurance policies and proceEds — _,;.,:,,._.
<br /> resultine irom damage to the Property prtor to the acquteitton ehill pass to Lender to the extent of the sums secured by �"..'.:��,:�-�-
<br /> � �' this Security Instrument immediately prior to the ncquisition. �,,,�;�-
<br /> � , 6.Occupancy,Preservatioa. Mainteaance snd Protectiop of the Property; Borrower's Lwn Applicatioa; �;,q,.�,,;
<br /> Laseholds. Borrower ahall occu�y,eatablish,and use the Property as Horrower's principal residence within aixty days _�'-'�
<br /> after the execution of this Secunty Instrument and shall continue to occupy the Proparty as Bc�rrower's principal .�:
<br /> residence for at least one year after the date of occupancy,unless I.,ender otherwise agrees in writing,which consent shall "�': .��
<br /> � not be unreasonably withheld.or unless extenuatinE circumstances exist which are beyond Borroa•er's control.Harrower �� '�'L
<br /> • shall not destroy,damage:or impair the Property,allow the Property to deteri�rate,or commit waste on the Property�. �
<br /> Borrower shall be in detault ii any forfeituceaction or prc�cEeding, whether civil or criminal, is begun that in I.ender's —�_�"�'
<br /> � � good faith judgment could :esult in forfeiture of the Property or otherwise materially impair the lien created by this �
<br /> , Security Instrument or Leader's security interest. Borrower may cure such a default end reinstate, as provided in ��--�±'`=-''�
<br /> paragraph 18, by causing the action or proceeding to be diamissed with a ruling that, in L.ender's good faith ��--
<br /> . determination.precludes forfeiture of the Borrower's interest in the Property or other material impairment af the lien ��»�
<br /> _. .. .__ . . . crear�.�hy rhi�Gr��rity Inarr��mr,.nr�r Ixn�er'R���riry inrrrrRt.B�rmw�r Rhel1 el� he in default if Borrower.d��ring �3:�•��';�
<br /> ,g,.,�z,.. _
<br /> � the loan application process, gave materialty false or inaccurate information or statements to Lender (or failed to �..��'�`�•'; __
<br /> I provide I.ender with any material information)in connectian with the loan evidenced bp the Note,including, but not � S' .., ��
<br /> � limited to,representations concerning Borrower's occupancy of the Property as a principal residence. It this Security � ' : ':;'��•��
<br /> Instrument is on s leasehold,Borrower shall comply with all the provisions of the lease.If Borrower acquir�s fee title to „ -��'
<br /> tha Property,the leasehold and the iee title shall not mcrge unless I.ender agrc�s to the merger in writing. � • -
<br /> 7. Protection of Lender s Rights in the Property. If Borrower fails to perform the covenants and agrt�ements
<br /> i,, contained in this Security instrument,or there is a legal prcxeeding that may signiPicantly affec:t I.ender's right5 in the ; �'�:-. ~ '.� _.
<br /> ;� Property (such as a proceeding in bankruptcy, probace, for condemnati�n or Forfeiture or to enforce laws or ;
<br /> rrgulations),then [.ender may do and pay for whatever is necessary to protect the value of the Yruperty and Ixnder's '
<br /> �' rights in the Property. I.ender's actions may include pa��ing any�sums secured by u lien which has priority over this
<br /> ';�, Security Instrument,appearing in court,paying reascmable attorneys'fees and entering on the Yroperty to make repairs. �
<br /> Although Lender may take action under this paragraph'7,Ixnder does not have to do sr�. '
<br /> � Any amounts disbursed by I.ender under this paragraph 7 shall become additional debt of I3orrower secured by this � �-
<br /> �' Security lnstrument.L�nless Iiorrower and I.ender agree to other terms�f payment, these amounts shall bear interest
<br /> from the date of disborsement at the Note rate and shall he payable,with interest,upon notice from [.ender to Burro�v�r •
<br /> requesting payment.
<br /> 8. Mort�a�e Insurance. [f I.ender reyuired mortgage insurence as a conditicm c�f making the l�>an secured by thi5 .
<br /> 5ecurity Instrument,$�rroHer shall pay the premiums required to maintnin the mortgage insurance in effect.If,for any .
<br /> reasem, the mortgage insurance coverage required by� I.enJer la�ses or crases tc� Ur in effect, Horrower shall �y the
<br /> premiums required to obtain co�•erage substantially equi��alent t�the mortgage insuranre pre�•iously in effect,at a cost
<br /> substantially equivalent to the cost to Horrower of the mortgagr insurance prr�•ioiuly in effect, from an alternate
<br /> mortgage insurer approved by I.ender. If substantiall)• cyui�•alent mortgagr inst�rancr ccn�erage is not a�•ailable, �
<br /> Borrower shall pay tc�I.ender each month a sum equal to one-twelfth c�f thr)•rarl�•mortgagr insuranrr premitim heing
<br /> paid by Borrot+�er t�hen the insurance cot•ecage lapsed or ceasrd to hr in effr�:t.I.rndrt n•iil a�crpt, t�sr and retain thrsr
<br /> ' payments as a lo�,s rescr�•e in lieu of mortgage insuraner. I.c��.s reservr pa�•mrnta ma�• no longer br required,
<br /> C
<br /> � F�rm 302t 9/90
<br /> +� �-6R(NEhews�.o� P•n :+e� e �nu�a�c
<br /> �
<br /> i.
<br /> p
<br /> �
<br /> t
<br /> ��
<br /> 1
<br /> . P
<br /> �
<br /> i
<br /> . '
<br /> . �
<br /> _ � t
<br /> i
<br /> � _.. _ .. _. � ..
<br />
|