|
� �.-•i
<br /> - :� ""�+.� �� ' _- `-
<br /> %: _ _ - -
<br /> ,._.
<br /> . ---�-
<br /> _. - -— �. --T ,.- ,a,
<br /> � .
<br /> _� .. �___:..� .
<br /> - --- �4- �oi48i
<br /> , perio�thrt Lender requira. The in�unu�ce caeier providina the Luunu�a�h�il be cho�a�by Bonower wbject w l.ende�i�
<br /> approv�l which tluill rwt be unraw�ubiy wkhheW,f/ Bat+nwer fiil�w m�intain Qoverye datdbeci�bove.Le��r�aay.at
<br /> L.�ndorti option,obwin covemRa w protect l.er�der�d�hu in the PnoPetty in acconduKb wilh�ra�r�h 7.
<br /> . All insuranc�potkiex u�d ra�cwtl��h�ll be�ooepqble�o l.enrkr ud�hall includa a u�nd�rd mort�a�e cl�u�e. I.ender
<br /> �h�l!have the riaht ta hold the policier and rcnswRl�. It I.ender roquirc�.lkxmwer Rh�ll promptlY�ive to Lender dl recei}xs
<br /> o!p�id promium��nd renowal ootlse�. I�the evont of lars.Borrow�slwll Qive pranpt ndke to the iruunnce curirr and
<br /> L�ander. Lender m�y m�lce prootof lar itnot m�dopromptly by liorrower.
<br /> -_ �" iJnlrx�Ix�Kirr�ud BaY3wer otlwrwiw:+Yrw In wd►Ing,insururuc proceeds shatl be npplied to restoration a repair of
<br /> ehe propertY dun�ged. ff the re�tarntion or ce{�[r b eca�nic�lly fexsible �nd Lenderk xcudty ie not leasaned. If the
<br /> " �r.itoruion or np�ir is nc�t economic�lly teuibk a Lenderk security would be leuened, the In�u� proceed� sh�ll be
<br /> appliod to tlx�ums aecurad by thi: Secudty Irutcwnent,whether or not then due, with any exceas p�ld to 9artow¢r. If
<br /> Borrower abandons the E'ropercy, or dnea not answer wlthin 30 daya a notice from l.ender thu the in:urAnce curler h�
<br /> offercd to senle a clalm, then Lender may�liect the insurance proceeds. Lender may uae the proaeds to rcpairor nstore
<br /> the Propecty or to pay sumr�ecw+ed by this Secudty Instmmen�whether or nat then due. 7'he 30�day period will be�in when
<br /> y�—"'p`�"°- � thc naice is givon.
<br /> Unless Lender and Borrower othetwise agree in wdting,any application of proceeds to principal shall na extend or
<br /> _ postpone the due date of the monthly payments rcfemed ro in paragrnphs 1 and 2 or change the amount of the paymcnts. If
<br /> under paragraph 21 the Property is acquind by L.ender,Borrowet�s right to any insurance policies and proceeds resulting
<br /> from damage ta the Property pr�or to the acquisition shAll pacs to Lender to the extent of the�umr secured by tl�is Socurity
<br /> _= instrument immediately prfor to thc ncquisition.
<br /> =_'�� 6. Occupancy, Preservation, MAiatenance wnd Protection ot the Property; Barrower's Y.ona Appliptlon;
<br /> - Leaseholds. Bocrower shall occupy,establish.und use the Properry as�orrower`s principal�esidence with[n sixty days after
<br /> the eaecution of this Security lnstrument and shall mntinue to occupy the Property as Borrower�s pr�nctpul rcsidence for at
<br /> ' least one yesr after the date of occupancy. unless I.ender othenvlse agt+ees in writing, which consent s1u11 not be
<br /> M• � M9+ti. �r � unreasonably withheld,or unless extenuating clrcumstances exist which are beyond Bonnwer�control. Borrower shall not
<br /> : �:•*�:�:;_•��� '� destroy.damage or impair the Property,allow the Property to deteriorate,or commit wsure on the Property. Borrower shall
<br /> � � ;�,;�:,�s be in default if any fodeiture action or proceeding,whether ctvil or criminal,Is begun that in L.enderls goad faith judgment
<br /> •• `' �"' � could result in forfeimre of the Pcoperty or othenvise materially impair the lien created by this Security Insuument or
<br /> r, ;`:��',�,�� ' Lender�s security interest. Borrower mny cure such a default und reinstate,as provided in paragraph 18.by causing the action
<br /> •'. . :,� � • • �f or proceeding to be dismissed with a ruling thut,in I.ender's good faith determination,precludes forfeiture of the Borrower�s
<br /> ��'�`•`•"'� �• '` ''''t intcrest in the Property or other material impairment of thc lien creuted by this Securiry Iastiument or Lender's security
<br /> �`tN`'' + ' '���F���' interest. Borrower shaU also bc in default if Barowe�, durin thc loan a lication rocess, avc materinll false or
<br /> :. q .'.. .' '., ';. : . ,:. 8 Pp P 8 Y
<br /> . inuccurate informution or statementc to Lender(or failed to provide Lender wIth any material infortnotion)in connection with
<br /> s:yi,.�:�:•,ru,�.•_�!�€:;, the loan evidenced by the Note, including, but not limited to. representutions concerning Borrower's occupancy of the
<br /> -. = 4'soperty ss s pris►tipnl residcnce. If thlti Se!'urity�n��n�mrnt is on�lea�ehold,Borrower ehall comQly with all thcprc►vicions
<br /> '" ` ' �' '� of the lease. If Borcower acquires fec title to the Property,thc leaschold and the fee title shall not merge unless I.endor Ag�+ees
<br /> to the merger in writing.
<br /> 7. Protection of l,ender's Rights in the Property. if Borrower fuils to perform the covenants and agreements
<br /> contuined in this Security Instrument, or there is a Iegal prxeeding thut muy significantly affect Lender� dght� in the
<br /> . Propetty(such us a praceeding in bunkruptcy,prabnie, for condemnation or forteiture or to enforce laws or regulations),then
<br /> _ � Lendar may do and pay for whatever is necessury to protect the vulue of the Property and Lender�s rights In the Property.
<br /> Lender's actiom muy include puying;�ny sumti secumd by a lien which has priority over this Secur3ty lnstrument,appeuring
<br /> f in court,paying rcusanabie uttomeyti'fees und entering on the Property to make repairs.Although Lender may take action
<br /> under thix parsgrnph 7,Lender da:�not huve to do so.
<br /> � Any amounts disbursed by Lender under thi.psragraph 7 zh�ll become additfot►al debt of Borrower securcd by this
<br /> ;'y Sccurity Instrument. Unle.s Borrower und Lender ugrcc to other tertns of payment,the.sc amounts sh�ll bear intei�est from the
<br /> .�h,. d•rte of disbursement at the Note ratr und shuli be payublc.with interetit,upon notice from I.ender to Hortower requesting
<br /> payment.
<br /> S. Ma�tgage Insurance. lf Lcndcr reyuircd mortgagc insurunce as a condition of mal:ing thc loan secured by this
<br /> . Security Inxtrumcnt, Borrowcr shall pay the premium.rcyuired t�� maintuin the mortguge insurunce in effect. If. for any
<br /> � - rcnzon, the mortgagc in�urunc:c covcra�c rcyuireJ by Lendcr lapses or ceuties to be in effect, Borrower shaU pay the
<br /> � prrmiums requircd to obtain coverage suhstuntially equivulent to the mon�age insuruncr previously in effect,at a cost
<br /> substuntiaUy ryuivulent to the cost to Borrowrr ut ihc mortguge insurunce previously in effect.from un ultemate mortgage
<br /> insunr upproved by Lcndcr. If substantiully equivalent ronrtgagr insurunrc covrragc is not uvailable,Bonower shall puy to
<br /> • Lendcr curh momh a�um cyuul to onr-twclRh uf th�ycarly murtgugc imurance premium bcing paid by Boaower when the
<br /> in�u�ance covrragc lupscci��r rra.cd to tx in ct'i'ect. Lr��dcr will u�rrpt,utic and retain thcu paymcnts us a loss rescrve in lieu
<br /> of mortgage insurance. Loss resrrvc pi�yment.muy no lunger Ix rryuireJ, ut thr optiun uf Lender,if mortguge insurance
<br /> � covrruge(in thr amount unJ fi�r thc Exricxl that LrnJrr nquires)pnwidrJ by:m intiurer upproved by Leneier uguin becomes
<br /> .rvail•rblr und is obtuined.Barruwer shall pay thc rnmi umti myuircd to mi►intuin mortFuge intiurance in effcct,or ta provide a
<br /> lo+s rexerve,until the reyuirrment fo�m��rtga�r in�urance rndti in arcord•rncr with any written ag�tement between Bormwer
<br /> and Lrnder or appliruhlc luw.
<br /> '• 9. Inspecdun. Lcndrr or it.agrnt may male rr;nonablr cntrie� upun anJ in.pectiim�of thc Pruprrty. Lcndcr�hall
<br /> . give Borrower notire at thr timr ut'ur prior tu un in+�ction ��xciTying rra�onablr rautir ti�r thr irn}xrtion. __.
<br /> � 10. Condemnation. Thr pr�xeeJ.ul�iny ew�ard urrlaim fur d;miagr�,dircct or con.rqurntial, in c�mnertian with uny -.
<br /> "h, tim�Iclanuly-•F'r�nnMlfur/Freddie�tucCVIF'Qit111titi7'Hl'�tE\'1'..UndunnCo�aiant. 9/90 rys�_1r?u�dp��e�l -
<br /> � �a'nt l.xtrx Pu�lm'w RMnv Int' �
<br /> � To IhMr I;all tail!bS:i6H�J3 f 1 t'�lI N11:7UIJ�J� _.
<br /> - �.�. . . . ._ . . . ' ...::"LY"`..u.rn.�.:S-�.....�_....,.... .....�... r�..:�..:..,:.::['•^�""
<br /> �
<br /> .',i . L_
<br /> �
<br /> . 4
<br /> �
<br /> :t
<br /> l.
<br /> . • �
<br /> �
<br /> .
<br /> �
<br />
|