95106827 - Laserfiche WebLink

Browse

A . .. ...�... � .-.. .. ,,} ' � . ... ..T...�4� .. . .. . �;f: , .. _.. ..... .__. _—•,__:..r. ._..... _, _.....w.�-. � ��A:�y�ie�^r� - -- __ -_ .....-. -_-.._-.._,_... - - —-- -- -�._�_ ---- .. . . .-- .-_�.-_ .��- �.�. .�r_—sri:.�-- �,�r.�.��_-•.---------. . _ r�9S��Y6e?,�+ S. Maznrd or Property tnsut�nce. Bonawer shall fcoep the impmvementa now exisd� or hereufter erected on the Propeny insured a�ainst loss by fire,hazards lncluded within the term"exterecled covernge" and any other hazenda,inctudiug fl�s or flooslin�. for�uhich Lender requtres insurnnce.This insurance shalt he maintained in the umounts anci for the periads tlwt Lender�+equires.Tfie insurance carrier pmviding the insurance shall be chosen by Borcower subject to i,ender's appraval wdtch stiall not be unmasonably withhetd. If Borrower faits ta m�intain coverage descrIbed above, Lender may. at Lxnder's optton,obtatn ooverage to protect L.ender's dghta in the Property in accordance with paragraph 7. All inaurance policies and renewals shall be awe��able to [.onder and shall include a standerd mortgage clause. l.ender shall heve the r�ght to hold the poltcies and renewals.If Lender requires,Borrower shalt pmmptly give w Lender all receipts of pald premtums end renewal n�dces. In the eveat of loss.Bormwer shail give prompt notice to the ingurance cu�ler Aad Lendu. I.ender may mnke proof of loss if not made prompdy by Borrawer. Unless Lender and Bomnwer otherwise agree in wrldn�,insurance praceeds shall be applled to cestoratIon or repair of.tl�ee Properry demagod.if the restoration or c+epair is ecanomic�lly feaslblo and Lender's securtty is not lessened. If tbe restoradon or repair Is not economtcally fcasible or Lender's security would be lessened.the insurance procee�s shail be appliod to tho surus sccurad by thls Security Instruaient,whether or not then due. wIth any exoess paid to Borrower. If Bormwer abandons tbe Pmpertyr.or does not answer wIthia 30 days u notia from I.eader chat the insurance carrier has offered w settte a clafm, then i�ender may colicct the insura�►ce pmceeds. Lender may use tbe proceeds ro repair or nstore the Pmperty or to pay suma secur�ed by dtis Security Instrument,whether or not tben due.The 30-day period wlll begln when the aotice is given. Unlcss L.ender aud Bomnwer otherwIse agree in writing. any applicatlon of proc�ds t,o principal shall not extend or postpane the due uicdv uf d�e wontiily paymenta refemed to in paragraphs 1 end 2 or chango the amnunt of the payments. If under paragcaph 21 the Property is acquirod by Lender. Horrnwer's right to any insurance p�licies and procceds reswlNng from damuge ta the Property prIor to the acquist�on shall pass w I.ender to the extent of the sums secured by tWa Serurity Inst�ument iruaiediately prior w the acquisidon. � 6.O�ocu�ncy,Preservatlon,Metnienance and Protection of We ProPertyi Borrotirer's Loan Applicatlon;�olds. Bomower shall oocupy,establish.and use the Property as Aorrower's principal residence wittua slxty days after the execudon of this Secu rtry Instrumeat artd shall cantinue to oocupy the Property as Borrower's principai residena for at least one year after tbo date of occupancy,unless Lender otheawise agKes in wrldn�,which consent shall nbt be unreasonably wlthheld.or ualess �ati�g c#r�u�ste�s or�iet wlucti uce bayvuci Bormwer's control. Bor�wer ai�aii not descmy, damage or impair the Pnope�ty. allow the Property to deuriorate, or commit waste on tbe Property. Borrowe;ehall be in default if an�forFeiture aalon or procadiag,wbether civil or crlminat,is begun thut In Lender's goai feith juclgtnent coutd e+esult in forFeitune of the ' Property ar oWcivulse materialiy impair the lion created by thts SecurIty In�trument or Lender's securhy inunst. Borrower may ' cuce such a default and reinstate,as provided In paragraph 18.by causing the actton or pnooeeding w be dismis5ed wit6 a ivliag tt�t. in Lender's good faith deteeaination. procludw farfeiture of tha Borrowtr's interest in the Propaty or ather roatedd impaim�ent of the {ien cre�tod by thIs Sa;urity Inst�ument or Lender's security inurest. Borrower shall Nso be in defiult if Horrower,diuing the lu�►appltcaUon process.gave materially false or ivacauate infora�aticn or swtements to I.ender(or failed to provlda Lender wIth any material information) in ootu�ection wIth tho loan evidenad by the Note,including,but not Umitad to,�+epnssntati�ns oonaming Borrower's occupancy of the I'roperty as a prfacipal residence. If this Secudty Tusuuauent Ia oa a lea�old, B�onuwer shatt wmply wlth ult the pmvlsIons of che lease. If Borrowe:acquins fee tIde to the Propetty. the leuet�old and the fee tide sMll not nxrge unless L,cnder agioes to tbe merger in wtiting. 7.�1vte�ion vi Leadere iiigats in the Pt+operty.u esomower faifa to perform the o�venaats aad agroementa oontained in ; tbie Se��ity Instzument.or thero Is a legal prooeeclIng thet may signiticantly a�'cct Lender's rIghts in ibe Property(such as a � ' proceeding tn baniavptcy. probate. for oondemnation or•forl'eiwre or ta enfine lawa or n�guladons),thea L.ender inay do and � pay for wlntever is naxssacyr to pmtoct the value of tha Pmperty and I,�nder's righu ia the Pc+operty. L,ender's actions m�y � tuclude paying ar�y sums sxured by a lien which has prlorlcy over this Security Instnunent. aPpesring ia oourt, paying i c�casonabto att�omeys'fces end entering on the Propetty to make repairs.Although Leuder may teke acdon under this�p�agraph 7.i,ender does rat have to do so. Any amonats dlsbucsed by Lender under edis paragraph T shall beoume addltivnal debt of Borrower secuml by tl�is Suurity Instrument. Unless Bomower and Lender agree to other terms of payment,these amounts shall bear intorest from tho � date of disbursement at t�e Note rate and shall be payable. wtth intenst.upon nodce from Lender to Bormwer roquesting � paymt�nt. . B.Mortga�e Iawrana.Ii Lender required mongage insuranoe as a cflnditfon of maling the load sec�red by t6is Securtty Instrument,Bormwer shalt pay the prem{uma reqWred to meintain tha tt3urtgage insurana in effect. If, for any reason. the : mortgage insurartce ooverage requlned by Lender lupses or ccases to be in effect.Borrower shalt pay the p�emIums required to obtain coverage substantIally equivaleat to the mattgage insurance previously in effcxt.at a cost substanflaliy equiv�lent to thc cost to Borrower of the mortgage iasurance previously in effect, from an altemate mortgege insetrcr approved by �.ender. If substattdcilly equivalent mongage insurance coverage la not available.Bomower shall pay to L,ender each month a sum equal to � o�twelf�h of the yearly mortgage inaurance pc+emtum being paid by Borrower when the insuranoe ooverage lapsaf or oeased to � be in effect.L.ender wltl accepi,use and ct�ain these payments as a loss reserve ln lieu of raortgage insuranoe. Loss r�esenre j • Form 3026 918p - Pepe 3 ot 8 � i