-- . . 1; 'C','.,.�, ,, .�.. ,. .' . �._
<br /> _. ..:�� — --- ,.�.oJ, --.., , ' , .. —
<br /> — ► g�d,.i�9�
<br /> — — „ perlods that Lcndar requins. '[t�c insurnnce caMer pro�rldinR the innurance sheil be chosen hy�orrowcr a�bjcct to l.ender�
<br /> --- approval which ehall rtot be asu�easonably wlth4�ld. I�Barrow�►failx to malnutn covarege desedlxQ above.l.encltt may.at _____
<br />__ - l.enckry optlon.obtain cov�go ta gr.�'^�.�st Lene�r�dRisi�in tlte PraQerty i�eccordanse v�th para�raph 7. ---—
<br /> All insurancss palictcs and re�uwalo ehalt 6e acceptoblo to I.ender and sh�ll include a standerd mortgago cleuse. Len&r
<br /> _ -_-�. shall heve tlto d�hht to hold the policl�e�reaew�ls. U I.encler reyuires,8onower ishdl promptlY give to I.ender+tll rec�ipGs� -----_
<br /> of paid prcmiums and nnewal notices. In the event of los9,Bamower eRall give prompt notice to ti�e insurana canler�nd
<br /> '�-�-u�--- � Lender. l.ender may m�{ce proof of loss fF not���de pro�ptly by Bon•owcr. � =
<br /> Unless Lender and Bortower otherwtso agree In wrlting.ineueanco proceeds ahall be applkd to oestoratlon or npair of �
<br /> the Paope�ty damaged.if the restoration ar nepair is economically feasible and l.ender�.security ls not le�csened. If the
<br /> restoradon or repair is not economically feastble or Lenderk security would be lessened,the insuranco proceeda shal!be
<br /> appfled eo the suma secund by this Setudty Tnstrument, whethcr or not then due.wIth any exc�sa paid tq Borrowcr. Jf
<br /> � Borrower alsandons tho Pmperty.or dces not answer wtthin 30 daya a notfce from Lender that the insurance canier has
<br /> � offered to settle u claitp,then Lendor may collect tha insurance pmctxda. I.ender may use the proceeda W npsir or resWre
<br />:=�ti: — the Pnperty or w pay aums secuted by this Sec�uity instrument,wi�ethef or not ihen due. The 30-day pertod wtli begin whcn
<br /> --= the nodce is given. __ __
<br /> - Unless Lender and Borrower otherwise agrce in wrlting.any applicatIon of pmce�ds to principal shaU not eatend or
<br /> �,�� postpona the dua date of the monthly payments refemed to in putagraphs 1 and 2 or change the cimount of the paymants. If
<br /> - under perEtgrnph 21 the Property is acquired by Lertder. Bomower�s right to any Insurance poUctes and proceeds resulting
<br /> from damage to the Property prlor to the acquieitlon shall pass to Lender to the extent of the aums secured by thIa Security
<br /> Insuument immediately prIor to tha acqutsitton.
<br /> 6, Occupancy, Preservation. Maintenance and Protection of the Property; Borrower's Loan Appltcation;
<br /> --- /,�cP�u►1etc, RormwPr aha11�.cupy,eateblish,and use the Property as Borrowerh pr�tclpal residettce wlthin a�CtY days etter _
<br /> the execution of this 5ecurlty Insuument and shall conttnue to occupy the Property as Bomawer's prIncipal residence far at
<br /> • �+ ,•f : least one year after the date of occupancy, unless Lender otherwise a�rees in wrlting, which consent shaU not be
<br /> � � ''� unreasonably withheld.or unless extenuating circumstancea exist which are beyond Horrower`a control. Horrower shall not
<br /> ,;;;,.`�, ,.;_; destroy,damage or impair the Property,allow the Property to deterIorate.or commit waste on the Property. Borrower shall
<br /> •c-'>•�%f • ��'�• be in default if any farfeiture actton or prc►ceeding,whether cIvil or criminal.Is be�un that In i.ender�s good faith judgment
<br /> �%���;•:� could cesult in forfeiture of the Praperty or otherwIsa matertally imputr the lien created by this Secur[ty Instrument ur
<br /> �.,,,;;::,::�.:',:,.,�;,: Lendert recurIty interest. Bolrower may cure such a default and reinstate.as provIded in garagraph 18,by causing tho acpon
<br /> �`�. . ,.. or proceeding to be dismissed with a ruling that,in Lenderk�ood faith determinatlon,precludes forfetture of the Borrower's
<br /> ' •''� interest in the Property or other materIal impaim�ent of the Ilen creuteci by this Security Instrument or L.ender's aecurlty
<br /> ",. :., �.'�' . . .
<br /> �� ' . interest. Bomower shall also be in default if Borrower, dudng the loan applicatton process. gave materlally false or
<br /> •• " � inuccumte infortnndon or statements to Lender(or fsiled to provide Lender wIth eny materini informatian)in wnnection wtth �____
<br /> ' ' ' ii�.: la�m cvidenced by the Note, iticluding, but not li�ttited t�, mpresentati��s conceming Borrower�s occupancy of the
<br /> - - •m
<br /> �" ' Property as a principal residence. If this Secudty Insuument is on a leasehoid,Borrower shall comply with all the provisions
<br /> � of the lease. If Borrower acquires fee title to the Pmperty.the teasehold And tho fee title shall not merge unless I.ender a�rees
<br /> . .' , . .,. tothemergerinwriting, --
<br /> � 7. Protection of I.ender's Rights in the P�operty. If Borrower fails to perfoan the covenunts and agreements �"`--
<br /> . contained in this Security Insaument, or there is a legal proceedtng thut may si�nificentiy affect Lender�s rights in the ��_
<br /> . �.._.._ . .... . pir���y{such ns a proceeding in bankruptcy,pmbate,for condemnation or forFeiture or M enforce laws ar regulations).then ��_�'
<br /> Lender muy do and pay for whutever Is necessary ta protect the value of the Property and Lender�s rights in the Property. -
<br /> � Lender�actions may include paytng any sums secured by A lien which has prIority over thls Security Instrument.appearing -
<br /> tn court,paying reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may ta.ke action .
<br /> " under thts par►�rnph 7.Lender does not huve to do so. +
<br /> . Any amounts dlsbursed by I.ender under thls paragraph 7 shall become additIonal debt of Borrower secum.cl by this
<br /> � Securiry Instrument. Unless Borrowcr and Lender agrce to other tertns of payment.these nmounGS shali bear interest from the
<br /> •� date of disbursement at the Note rute and shull be payable,with lnterest, upon notice from L.ender to Borrawer reyuesting
<br /> _ `� puyment. '
<br /> 8. Mortgage Insurartce. If Lender mquircd mortguge insurance a.ti a condition of mn)cing the loan secumd by this
<br /> Security Instrument, Borrower shall pay the premiums myuired to maintain the mortsage insurance in effect. If,for any
<br /> .... reason,the mortguge insurnnre coverage required hy Lender Inpcec or cenxe. to he in effeet. Borrower shap puy the =_
<br /> • premiums requlred to obtain coveruge �ubstantiully eyuivalent to the mortgage inrurance previously in effect, at a cost
<br /> substantially cquivalent to the cost to Borrowcr of thc mortguge intiurance pmviously in effect, from nn nitemnte mortgage
<br /> ' insurer approved by Lender. If substantiuily eyuivalent mortguge insurunce coverage is not available,Sorrower shull pay to
<br /> L.ender each month a sum equul to cme•tweifth of the yeurly mortgage insurance pmmium being puid by Borrower when the
<br /> , insurance coverage lapsed or ceased to be in effect. Lender will uccept.uxe and retain the�e paymentr us:s loss reserve in lieu •
<br /> • . of mort�agc insurance. Loss reserve paymcnt�muy na langer be reyuircd,at the option of Lender,if mortgage insurance
<br /> coverage(in the umount and for thc period that Lendrr rcyuircti)provided by an insumr approved by Lender uguin become.
<br /> available and is obtnined.Borrowcr rhall puy thc prcmium.myuin:d to maintain mortgagc intiurance in effcct.or to provide a
<br /> loss reserve,until the requirement for mortgagr insurunce ends in c�ccordunce with uny wriucn a€rcement between Bnrrower
<br /> , and Lender or applicable law.
<br /> 9. Inspecdon. Lender or its ugcnt muy mukc rca,onablc cntrics upon and in�pections of the Property. Lcnd'cr�hall
<br /> . give Borrower notice at the time of ur prior to un in,pe�tion�perifying tra,anuble cau.e for the in.pection.
<br /> 10. Condemnation. The procecdx oT any awurd or claim for damagr�,dimct or con,eyuentiul.in ronnection w�th;sny
<br /> Single Frmiiy••Funnie Mae/FYrddk ltnc l'NIF(IRM1t IKtiTRI'MF:'�T••Umfi�rm Co�cnam, 9/90 ��i��+�/4 r.�gcc�
<br /> . 4trat�nkrn Bmtnns Fam+.Ioc■ -
<br /> � To lhd�'f(all 1AU60.7693U3 O FA%Gt479T4131 •
<br /> , �
<br /> � �
<br /> ; . .� _-.. ; ..- . ...._ . . . . . .. ..
<br /> ; i
<br /> I ��
<br /> �
<br /> .;� -' - _ .' .
<br /> ♦ .. .
<br /> � '
<br /> � .
<br /> 1
<br /> t �
<br /> .
<br /> �. �.
<br /> ,� � .. �, . _ . . .. .. __... . _.
<br />
|