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<br /> 5. Hnr.�rd nr Proprrt�• Insuranrr. Barmwer shull kccp th� impmvcments nv� L':(i�g or hrrcaf+er �rcc�ed an thc
<br /> Property insurcd a�;ainst !os< b�• fir�, hazarcis included within the term "ettcndcd coveragc' ar� any cithcr hazards, including
<br /> (loocfs er flcicxiin�, far which Lencicr reyuires insurnncc. Tliis incurancc shall hc maintaincd in thc amounts and for ihe pericxis
<br /> that Lender rcquir�s. Thc insur:�ncc carrier providing thc insurz+r,ce �hall be chc�sen b)' Borr�wtr subject ta l.cncler's approval
<br /> which shull not bc unreasoru�hly �vithhcld. iF 9ormr���r Eailc to maintain eov�rage dcscribrcl uhov�, Lender may, �t L.ender's
<br /> option, obtr�in covcrn�e tn protcct l.endcr'S riehts in the Arnptr!y in accardancc with�sragcaph 7.
<br /> All insurance policies and rencwals shall bc ncccptable ta l.cndcr and shnll include a stanciard mortgage clausc, l.cnder
<br /> sh�ll huvc the ri�ht to hold thc �oli�ic�and rencwals. if Lendcr requires, C3orrow•cr shnll promptly givc to l.cncicr all reccipt.s c�f
<br /> paid prcmiums�nd renewul nntices. In thc event nf loss, &�rrower shall �ive prompt notict ta thr insurance camer and Lender.
<br /> [.r.ndr.r may ma4;e proof of Inss iF not madc pramptly�by Borrower.
<br /> Unless [,ender and Borro�w�er atherwisc agree in writing, insurance prncceds shall t+e applied to restoration or repair of the
<br /> Property damaged, if the restontiQn ar repair is ernnomically fcasible anci l..ender's security is nnt Ies�enccl. lf the restorntion or
<br /> repair is not economic.�lly feasible ar Lender's seturiry w•ould be lesSened, the in5urance proceeds shail be appli�d to the sums
<br /> sccured hy this 5ecurity Instrument, whcther or not thcn due, w•ith sny e�cess paid tn Borrower, if Borrower abandons the
<br /> Property, or daes not answer within 30 dnys a notice fmm I.ender that the insurar�ce carrier has ofFererl to settle a claim, then
<br /> • J...endcr may collect the insut�ance procceds. Lender may use the praceeds to r�pair or restore the Property or to pay sams
<br /> se�uxed by this Security Inscrument, whethcr or not then due.The 30-day period will btgin when the noticc is given.
<br /> Unless I,ender and Bnrrau�er otherw�ise �tgree in writin�, any appiication of procceds to prin�ipal shall not cxtend or
<br /> postpone the due date of thc monthly payments referrcd to in paragraphs 1 aitd 2 or chan�c the amom:; oF the payments. If
<br /> under par�grnr.:dl !he Fro�rtv is aequiced hy i.cnder, Borrower's ri�ht to any iruurance policies snd pracerds resulting from
<br /> damage to thc Pmperty prior to che acquisitivn shall pass to Lendcr tn the extenc of the sums secured by this Securiry In�trument
<br /> immcdiately pri�r to the ncyuisition.
<br /> 6. Occupnncy, Preser�•atinn, �isintenance and YrntecNon of the Property; Borrowcr's I.nan Application; Leaseholds.
<br /> Borrower shail occupy, establish, ur.d use the Property as Barrower'c p;incipal residcnec within sixty days after the e�ecution of
<br /> this Sccurity ln�trument and shai( continue tn ocrupy the Propeny as F3c�rmwer's principal re,sidence for ut least one year after
<br /> the datc ef occupancy, unless L.ender othrrwise agrees in��riting, wliich consent sha!1 not be unreasonably withheld, or unJess
<br /> CCiCiIIlAUI1� c:rcumstances exist ���hich are beyond Borrower's contrc?�. Borrow�r shail nos destroy, darnage or impair the
<br /> Property, allow the Propert}• t�7 detcriorate, nr cqmmit waste on the Property. Borrower shall be in default if any forfeiture
<br /> action o;proceeding, whether civil ar rriminal, ic begun chat it2 Lender's bood faith judgment could result in forfeiture of the
<br /> ProFerh• or othenvise materially impair the iien creatcd by this Sccuriry Instrument or T..ender's security interest. Borcower may
<br /> cure such a default and reinstate. t+.s pravided in paragraph ]8, by causing the activn or prpceeding to be dismissed with a ruling
<br /> that, in Lender'� goad faiih detennination, precludes ;'orfei[ure of the Hormwer's inierest ir the Property or other ma:..rial
<br /> impairn�ent of the lien creaced hy this 5ecurity Instrume:�t or Lender's security interest.Borrawer shall also be in default if
<br /> Borrower, during the ioan application process, gave materially false or inaccurate information or statements tn Lender(or faileci
<br /> to provide Lcnder with ariy materzal information)in connection with the loan evicienced by the Note, including, but not limited
<br /> fo;rcpresent2tions concerning Borrower's cxcupancy of the Property as a principal residence. If this Securiry Instrument is on a
<br /> lea.eehold, Borrower shaU cam�ly with all thc provisions of the lease. if Borrnwer acquires fce title ro the Property, the
<br /> leasehold and the fee title chali not merge unless L.ender agrees to the merger in writing,
<br /> 7. F'rotection oC I,ender's Rights in the Property.If Borrower fails to perfornt the covenants and agreements contained in
<br /> this Security Insttument, or!here is a legal proceeding that may significantlV affect i.ender's rights in the Property (such as a
<br /> procecding in bankruptcy, prt+bate, tor condemnatinn or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for ��•hatever is necessary to prvteci the value of the Property and i.ender's righcs in the Property. Lender's actions may
<br /> inclucie paying any sur.is secured by � lien which has priority over this Security Instrurr�nt, appearing in court, paying
<br /> reasonable attomeys' fees and enterin�on the Propercy to make repairs. Although Lender may talce action under this para�raph
<br /> 7, Lender dnes not ha�e to do so.
<br /> Any amounts disbursed by L.ender under this paragraph 7 shall becume sdditipnal debt of Sorrower secured by this
<br /> Security Instrument. Unless Borrow•er and Lcnder agree to o!her terms of payment, these amounts shall bear interest fmm the
<br /> date of disbursement at the Note rate nnci shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> payment.
<br /> $. Alnrt�age Insuranee. IF Lender required mortgage insuranee as a condition of making the laan setured by[his Security
<br /> Instn�mcnt, Bcirrawer shall pay the premiums required to maintain the mnrtgage insurance in effect. If, for any reason, the
<br /> mortga�e insurance coverage required by [.ender lapses ar ceascs to be in effec'., Bqrrpwer shall pay the premiums required io
<br /> obtain coverage substantially equivalent to tht mortgage insurance previously in e(fect, at a eost substantially equivalen[ to the
<br /> cost to Borrower of [he a�iortgage insurance previously in effect, from an alternate mortgage insurer appmved by L.ender. !f
<br /> substantially equivalent mortgage insurance coverage is not available, }3orrower shall pay tn C.cnder each month a sum equal tn
<br /> anc-twtlfth of the yearly n:ortgage insurance premium being paid by Borrower when the insurance coverage lapsed or cewsed tp
<br /> be in effect. Lender wifl acccpt, use and retain these payments as a loss resen�e in lieu of mortgage insurance. Loss reserve
<br /> Form 3D28 9/90
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