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<br />_���._ , p�riods thnt I.ender requices. 7'he in�;urance carrier pmviding the insurunce shall be chosen by Dorrower subject to I..ender� =`
<br /> ;;���'�`��"' ' npprovnl which shnll not be unrensonubly witchheld. It Borrower fails to mpintain covernge descrit,ed nbave.Lender may.at
<br /> , Lender's option,nbtnin cnvern�e to protect Lender's ri�;hls in the Pro�erty in�tccord�nce t��ith patab aph 7. � ' �
<br /> �,�_
<br />_� - , • All insur�nce policies nnd rencwals shnll be iicceptnble to Lender and shnll include u standard mon�age clause. i.ender
<br /> .�;� , shall have the right to hold the policies nnd renewals. If Lendcr rcyuires,BoiTO�ver shnll prompdy givc to Lender aQ reccipts �;`
<br /> of paid prcmiums und renc�val noticcs. In the cvent vf loss,Bottower shall givc pron�at noticc ta thc insurance carrier and �-°
<br /> "' Lender. l.endcr mny make proof of loss if not mude promptly by Bonower. `--
<br /> Unlcss I..cnder i►nd Barrov�cr otherwisc agree in�vriting, insurance procceds shall be applied to restarntion or repair of --
<br /> , the Property dumaged, if the restoration or repuir is economically fe�.sible :uid Lender's security is not lessened. If the �-
<br /> restorapan or repnir is uot ecanomically feosiblc o�Lender'.v security would bc lessened, the insurance proceeds sliull Ge �--
<br /> - " applied to the sums securcd by this Security Instrument. whether or nat then due,with nny excess pnid to Borrower. If
<br /> Borrower abundons the Property, or does not unswer �vithin 30 duys a notice trom Lender that the insurance carrier has
<br /> � offered to seetle u cluim,then Lender mny colleGt the insurance proceeds. Lende�•may use the proceeds to repair or restore —
<br /> i ' ' " the Property or to pay sums secured by this Security Instrument,whether or nat then duc. The 30-day period will be�in when --
<br /> ' the notice is given.
<br /> �l Unless Lender and Bonower otherwise agree in writins, any upplication of proceeds to principal shull not extend or
<br /> � � postpone the due date of the monthly payments referred to in pnragraphs 1 and 2 or change the umount of thc payments. If
<br /> ! under paragaph 21 the Proper[y is acquired by Lender, Borrower's ri�ht to any insurance policies nnd proceeds resulting
<br /> � from dama�e to the Property prior to the acquisitiQn shall pass to Lerider to the extent of the sums secured by this Security
<br /> , InsUumcnt immediately prior to the ucquisition.
<br /> 6. Occupancy, Preservut6�m, Matntenunce nnd Pr�tection of the Property; Borrower's Loan Applicatlon;
<br /> , , • Leuseholda. Borrower shall occupy,estublish,nnd use the Property�$orrower`s principul residence within sixty days nfter
<br /> , the execution of this Security Instrument and Shall continue to occupy the Property as BoROwer's principal residence for at ---
<br /> • . least one yeaz ufter the date of occupancy, unless Lender othenvise agrees in writing, which consent shall ttot be -
<br /> � ' unreusonably withheld,or unless extenuating circurnstances exist which are beyond Borrower's contrnl. Borrower shaU not -
<br /> .. .. destroy,damage or imp�ir the Property,allow the Pmperty to deteriorate,or commit w�.�te on the Property. Horrower shall -
<br /> be in default if any forfeiture action or proceeding, whether civil or criminnl,is begun thut in Lender�gaod fuith judgment ��
<br /> ' could result in forfeiture of the Property or otherwise materially impair the lien created by this Securiry Instrument or
<br /> Lender's security interest. Borrower muy cure such a default and reinstnte,as provided in paragraph 18,by causin�the action
<br /> _ _ or proceedin�e to be dismissed with a ruling that,in Lendcr's�ood fuith determination;nrF�l�irir�g�rf��r���P�f�,yP�Q;��wA:�
<br /> interest in the Property or other material impairment of the lien created by this Security Instrument or Lender�s security
<br /> interest. Borrower shall also be in default if Borrc�wer, during the loan npplication process, �ave rnaterially false ar
<br /> inaccurate infortnation or stntements to Lender(or failed to pravide Lender with any materinl information) in connection with -
<br /> . "' the loan evidenced by the Note, including, but not limited to, representations conceming Bonower's occupancy af thc =
<br /> , Property as�principal residence. If this Security Instrument is on a leasehold,Borrower shall comply with all the provisions -
<br /> of the lease. If Borrower acquires fee title to the Property,the leasehold and thc fee title shall not mergc unless Lender ag�es "..
<br /> to the merger in writing. ,
<br /> 7. Protectton of Lender's Rights tn the Property. If Borrowcr fails to perform the covennnt� and agrcements
<br /> contuined in this Sacurity Instrument, or there is a legal proceeding that mny signi�cantly nffect Lender's rights in the
<br /> • Property(such as a proceeding in bankruptcy.probate, for condemnation or forfeitum or to enforcc laws or regulAtions),then
<br /> Lender may do and pay foi whatever is necessary to protect the value of the PropeRy and Lender's rights in the Property.
<br /> ' Lender's actions may include puying tmy sums secured by a lien which has priority over this Security Insuumcnt.appearing
<br /> in court,paying reasonable attomeys'fees;�nd entering on the Properry co make repairs. Although Lender may takc action "
<br /> ' under this paragraph 7,Lender does nat have to do so. �
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower sccut�d by this
<br /> ., Security Instrument. Unless Borrower and Lendcr agree to other terms of payment,these umounts shall bcar interest from the
<br /> datc of disbursement at the IVote ratc and shall be payable,with intemst,upon notice from Lendcr to Borrower requesting
<br /> . payment.
<br /> 8. Mortgage Insuranee. If Lender r�quired mortsage insurance as a condition of rnaking the loan secured by this
<br /> f Security Instrument, Liorrower shall pny the prerniums reyuired to maintain the mort�age insurance in effect. If, for any
<br /> !� reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the
<br /> ` � �• pmmiums required to obtain coverage substantially equivalent to the monguge insurance pi�eviously in effect, at a cost
<br /> •�; . • subst�ntially equiv�lent to the cost to Borrower of the mortgage insurance previously in effect,from an alternate mortga�e
<br />- , insurer approved by Lender. If substantially cyuivalent mortg,tge insurance coveruge is not available,Borrower shatl pay to
<br /> Lender each month a sum eyual to one-twelfth of the yearly mortguge insurance premium being paid by Borrower when the �,
<br /> insurance coverage lapsed or ceased to be in effece. Lender will Accept,use and retain these payments as a loss reserve in lieu
<br /> � , of mortg4ge insurancc. Lass rescrvc payments may no longer bc requircd, ut the option of Lendcr, if mortgngc insurancc
<br /> coveragc(in thc amount und for the period that Lendcr requircs)provided by an insurer t�pproved by Lcnder agsin becom�s
<br /> i � availanle and is obtained.Borrower shall pay thc premiums rcquired to maintain mortgage insuranre in effcct,or to provide a
<br /> loss mserve,until the rc.quirement for mortgage insurance ends in uccordance with any written agrcement between Borrower
<br /> and Lender or applicable law.
<br /> 9. Inspect[on. Lender or its agent may makc reasonable entrics upon and inspections of thc Property. Lender shall f
<br /> give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. I
<br /> , . lU. Condemnation. The proceeds of any award or c(aim for damages,direct or consequential, in connection with any
<br /> �
<br /> Single Family••Fnnnle Mne/Fl-cddte Mnc UNI�ORAf INSTRUMGNT••Unifomi Covcnants 9/90 IpaAe?oj�i�xike•,al �
<br /> Grcat Inkn Ouslncs Ymns.Ine.■ �
<br /> - .. . fi OMet C�II:1-8WA1a8393 0 FAE G16T91.1131 �
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