|
<br />
<br />.200203392
<br />
<br />If B()now~r abandons the Property, Lemler mllY file, ll<:f;otiate lInd seule any IIvailablc insumnce claim
<br />and rdated matters. If Borrower doeti not respond within 30 days to a notice from Lender that the insunmce
<br />carrier has olTered to so:ltle a claim, then Lender may negotiate and settle the claim. The 30-day period will
<br />begin when the notice is given. In either event, or if Lender acquires the Property under Section 2:! or
<br />other....i.>t:, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an ,Imount not
<br />to exceed the: amounts unpaid under the Note or this Security lm!rument, and (b) any other of Borrower's right~
<br />(othcr than the right to any n:fund 0f unearned premiums paid by Borrower) un'der all in.~urance policies
<br />covering the Property, in30far as such rights are applicable 10 the covemge of the Property. Lender may use the
<br />insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this
<br />Security Instrument. whethe:r or nO! then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
<br />residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
<br />Propeny as Borrowds principal residenl;C for at least one yell!' after t....le date of occupancy, W"less Lender
<br />vthern'ise agrees in writing, which consent shall nor be unreasonably withheld, or unless extenuating
<br />ci!"l;umstance~ exist whi:::h are beyond Borrower's cOlllra!.
<br />7. Presen':ltion, Maintenance and Protection of the Property; Inspections. Borrower shall not
<br />destroy, damage Of imp1ir the Property, aJ:ow the Property to deteriorate or commit waste on the PrOP('ny.
<br />Whether or not Borrower is residing in the Property, Borrower shall maintain the Pro!lerty in order to prevent
<br />the Property trom deteriorating or decreasinf, in value due to its condition, Unless it is determined pursuant to
<br />Section 5 that n:pair 0r restoratiOn is not c::conomically feasibk, BorroWer shall promptly repair the Property if
<br />d:unaged Il' avoid further deterioration or damage. If insue,iDee or cocdenmation proceeds are paid in
<br />con.necti0n with damag<~ to. or the taking 01: the Property, Borrower shall be responsible for repairing or
<br />cestoring the Propeny only if Lend~r hilS released proceed., lor such purposes. Lender may disburse proceeds
<br />for the repairs and n:stt'ration in a single payment or in a serie:; of progress payments as the work is completed.
<br />I f the insurance or cor,delllnation proceeds are not suflicicnt to repair or restore the Property, Borrower is not
<br />relieved of Borrower's t)bligation for the completion of sUl;h repair or restoration.
<br />l.ender or its agent may make reasonable entries upon and inspections of the Propeny. If it has
<br />reasonuble cause, lender may inspect the interior of the improvements on the Property. Lender sha.IJ give
<br />BOrTow<:r nac,ce at tll/~ time of or prior to such an interior inspection specifying such reasonable caU!\e.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />B(:rraw'-'f or iln)i persons or entities actin!!. at the direction of l3orrower or .....ith Borrower's knowledge or
<br />wnsent gave materially false, misleading, l)r inaccurate inlorml:tion or statements to Lender (or iaild to provide
<br />Lender ,,\'jth material infomwtion) in connectiop. with the Loan. Material representations includo;, but are not
<br />limited to, representations eoncel1ling Borwwer's occr_~aney of the Properly as Borrower's principII I re5idencc.
<br />9. Protection of Lcndl~r's Interest in the Property und Rights Under this Security Im:trumellt. If
<br />(a) Harrower [ails to perfonn the covenants and agreements wntained in this Securit)' Instrument, (b) there is a
<br />legal proceeding [hat might signilil;al1lly affect Lender's interest in the Propcny andlor rights under this Security
<br />In.<trulTl<:nt (such as il proceeding in bankmptcy, probate, for condemnation or forfcimre. for enfcnccment of II
<br />hen \'vhich lllay attalll Priority over this Security Instrument or to enlorce laws or rcgclntions), or (c) DOITow'"
<br />has abnndond t~e Prop"rty, then Lcnd..,r mny do and pay for whai<:ver is reas.:mable or appropriate to protect
<br />Lendds inte:e,~t in 'he Property and rights under thIS Security Instrument. including l'rck..:ting andlor assessing
<br />the '/,duc of the Property, and S< :uring and/or rcpilidng the Property, Lender's actions clln include, but are nClt
<br />iJtllikd 1": (a) PilYlng any Slim, :,.:cured by a lien which has priorit)' over this Security ltbtrument; (b) appealing
<br />In ccJUr1; and (c) P.lyin6 reilsooahk ilttorneys' fees to protect Its interest in the Proper.y an(i'm rights under this
<br />Security lnMrulTlenl, including ib secured position in a bankruptcy prQ(;eeding. Securing the Property includes,
<br />but is not ltmitcd to, entering (he Property to make repairs, chang<<: loek.~, replllce or board up doors .~nd
<br />WIndow:;, drain waler from pir'c~, ciiminate building or other code violations or dangerous conditions, and have
<br />utiiilic~ lurned on or (,IT. Although Lender may tnke IIction under this Scction 9, Lender does not have 10 do so
<br />and is not under nny dt,ty or obligation to do so. It is agreed Ihat Lender inl;urs no Iiubility for not taking IIny or
<br />all actiolls :luthori7cd limIer this Section 9.
<br />
<br />0.6(:'. /:) I 'JIm I
<br />.
<br />
<br />Inili'isl1_~ ~~~
<br />
<br />rog" 7 of 15
<br />
<br />hmll 302M 1,1) I
<br />
<br />r'
<br />" ' .., '
<br />
<br />" 'l jJ"" .
<br />,P L' t. !
<br />" < 1(1" I " ';" .'
<br />
|