|
��� . _ __ _'_ _-' _ __ __ , � r ' _. .
<br /> __ �.. . .. . . �]�� . " .. ._.__,_.... . _ ___' .. ._ " . _., _.
<br /> ' . ... . . . � ' -�'1j�5!!8'rtt-. -
<br /> � � -- --_—
<br /> ..._.:�ue�.. _— _ - ° _ —_
<br /> 96r i0�4�
<br /> 5. �rd ur i'��sy ?►rw,u+cti. �wr..w:.� shall i;::p th: imprn���ments raw eriuino or I�ere,�tler erctital an the v--
<br /> E'r�^crty insural �ainst lass Dy firc. h�r;is it►cfudai within tlu trrnt "exte��ded cu�rru�c" �txl Any othc�h�zsrds, l�xiudin8 `
<br /> f�rxt.�u�1kK,cll��. fau which l.cnder caiuirca iawr�uxx. ThIs ia+uratkti shall bc malaulntd in the anwunt�a�td fi►r tlx(+�rie�d+: �-
<br /> t!u►t i.eixkr rayuirzs. The iiuurancc rarrier providinr the insurauce ahall be chc>.cen t+y lionowcr subject u� i.cixier's app��vrt =-
<br /> which shall not be unnasonaidy withheld. If Bam�w�cr f�ils to maintsln caver�c deacribal abovr. l.c�xk�nuy. ut i.e+xier's
<br /> option,obtaln eo�•erare to proto��t l.erKler'a rigiil>iit it►z P�uE-krc�i��:urd:..z.^c a�ith pzr�ra,�h T. -
<br /> Ail insuru�a: patici�s,:i�i r�i�w� sh�ti b�,�cc(�tab:a to l.r:t:.kr arid shall i�xlucir a �t�+YlarJ n�ort�ge clsuse. lxndet _
<br /> shall h�ve ttie ri�ht to hoW the poUcies sinnd renewal�.IF l.cadu reyuires.Bwrowcr stwll p�utiyuly gi�•e ta l.etsd:r all rcceipts of
<br /> paid premium.a and rcrewril notices.In the everu of loss, Borrower�hall�eve pmmpt notice to the insurance carricr and Lend2r.
<br /> [xodec�s�y n�uke proof of l�ss if rat made pron�►�Nly by Borrowcr.
<br /> Ui�le,s Lei�dzc and Barr�w�r cxh:,rwisc;�rea in u�riting,iruuraace proeercls shall t�e�pplied to�estoratioa oc repair os the
<br /> Property damaged,if the restaration or t�pair is economi�lly feasible and I.e�xler's security is not lessenod. If the rastoration or
<br /> re�ir�s nnt ecanomicslly feasible or l.ender'9 securiry would be lessenal. che insurance proceeds shall be applicxi to the sw��c
<br /> sa.ured by this Securiry Insttument, whethe.r or noc thea due, with any exass paid w Borrower. If Borrower �bandot►s the
<br /> pro�xrty, or does noi�nswor withia 30 days a natico fr�ni Lender thu the insurance carrier has offered to seule a claim, then
<br /> i.ender r►�y colEect the insurance proceeds. Lender may use the pr000ecls to repair or restore the Propeny or ta pay sunis
<br /> secuced by this Socurity IastrucMnt,whether or not thea due.The 30-day period will begin when the notice is giv�n.
<br /> Unless [.ender and Bormwer odurwisc;a�rce in writing. anY apPliption of proceeds to principal sh�ll not extend or
<br /> postpone the due dzte of the manthlY psYments referre�w in pat�raphs 1 uxl 2 or c1►ange the anja:at of the �yu�eats. lf
<br /> ut�der paragraph 21 the Property�s acquiral oy i.enoer. �f0!'[Ower a rigisi iu ni�ji i��;,�:,.,:t.:.l•.�:.�W�p:�s:��_-h.��f*+e!!�
<br /> damas�to tiu PropertY Prlor to the acquisition s}•.all pass to[.ender to the excent o:Ne sums secured by tids Sxurity ic�u,rw;�:
<br /> unmediauly prior to thc acquisition.
<br /> 6.Occu�ancy, Preservatba,Mainteoauace and Protoction of tf�Pt+operty;Ba'roMer's Loaa Applicatioo;Leasebo�ds.
<br /> Borrawer shall oocupy.�iiu�.�ixi us�the Pru�,rty as Burrowes's principsl ctsidrnce within cixry days aftu the ea►ecution of
<br /> this Securit}Insttumcnt and shall continue to�►ecupy the PropertY as Borcvwer's principal �esidenoe far at leact one yeu s�tter
<br /> the date of occ:iputicy,w�less Lu�der otherwise agt+ezs in writing, which consent shall na be unreasonably withtseld.cx unless
<br /> exunwtit�g circumstu�ces exist which ue beyoad Borrower's control. Borrower stwll not destroy. dan�e or impair the
<br /> Property. �llow the Property co ckterioate. or commit wacte on the Peoperty. Borrower shall be in ciefault if any forfeiwre
<br /> acdon or praceeding.whether civil or criminal, is begun t}wt in[xr�der's good faith judgment oould resr3t in forfeiture of thc
<br /> property w otlutwise materially impair the lien cnated by this Socurity Lutnunent or[.endtr's security inurat. Borrowu myy
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceecling co be dlsmissed wit�a rulin8
<br /> tlwt. in i.enler's good faith deteratination. procludes forfeiture of the Boaowor's intenst in the Property or ot�c u�terial
<br /> impairnYnt of the tien created by this Securiry Instrumer►t or Lender's security intert.u. Borrower sh:ll also be in&fault if
<br /> Boreower�during the loan a�plicatioa process,gave matui�lly faLce or ic�aoeurate infom�ation or statements to Lendar(or failod
<br /> to pcovide Y.ender w-itb oay material infom�ation)in connaxion with the loan evidesiced by the Note.inclading.but aot limited
<br /> to,reNcesent�tions eoneerniug Borrawer's oee�►psney of the Property as a pjincipal racidenee.If this Seeurity Instrumau is oa a
<br /> lessehold, Borrower shall comply with all the provisions of the lease. If Borr+ower sioquires fee title to tbe Pr�pr�ty, the
<br /> leasd�old aad tbe foe dtk shall not merYe unless Ir,nder agroa to the merger in writing.
<br /> —?.P�oietl�oe of Li�da''s R��fs iA tbe�ty.If Borrowu fails W pMnttm t2ie Cavea�t9��a�wniainai io
<br /> this Securiry Instrumrnt. or thene is a legal proeeoding tt�at may significantly xffect Lenck,r's righu in the Property (wcl� as a
<br /> pmoeociiing in ban{ciuptcy.pmisste, for oondem�tion or forfeiture or to eaforce laws or regulatiocu). then I.eader msY do aod _
<br /> P�Y for wlwuver is naoessary to protect the value of the Praperty and Lender's righu in the Fropeity. L,ender's xtioos may .
<br /> include WY�B my sunu socurod by a lien which has prinrity ovu this Savrity instruma�t, appearia$ in court, WY�8 -
<br /> rpsonsble astnrneys'fas and enterin,g on the Property to roake mpairs. Altlwagh I.e�ler msy tak,e acxion wxSts'this p�n�grapb . •
<br /> 7.Lender does not�z�e to do so. .
<br /> pny 9••,,,�,M� disbursed by L�esxler under this pua,graph 7 stull b000me additiaa�l dd�c of Sorrowec sacured by tLis
<br /> Security I�tnumnt. Unlas Bornuwer wd L,ender agrce to ott�er tefins of paytnent,these amounts sha11 bwr intemt from the �
<br /> date nf disbtusemcnE at the Note r�te and shall be payable. with inte�+est.upon notice from I.ender to Borrower coquestiqg
<br /> MY�•
<br /> $.MoitYs=e�uraooe. If Lenda roquired mortgag�insuru�ce as a coa,-litioa of m�ldng the la�m suuzod'oy ihis,Secuii�y
<br /> Incirucrnt. Horrowu shaU pay tha pnemiums required to maintain the ruortgage iasuranee in effed. If. for any reason, the
<br /> mottg�ge insurance ooverag�reyuired by l.etxler lapses or aases to be in effect, Borrower shall paY the premiums raluired�°
<br /> obtain ooverage substantially a7uivatent to th mortgage inwrance pceviously in effxt,at a oost substantially eyuivaleat to the
<br /> cost w Borrowa�tt�e mortgage inwr�nce previousty ia�ffect. from an�Itensate mortgage inwrer approved by 1,ender. If _
<br /> substaotially oquivaleat mortgage insurance coverage is not available.Borrower shall pay to Les�ler each ma►th a sum Wual w
<br /> one-twelRh of th�year{y mortg�te inwranoe premium being paid 5y Borrower when the i�uuanoe coverage lapsed or oezsed to -
<br /> (x ia,eFfax.ktdes will aooe�t,ase aad retain these payments as a:oss reserve in lieu of mortg�ge insurance. Loss rrserve
<br /> Fona 302� 9190 �
<br /> hp�J o!6
<br /> . . +�ZY . I
<br />
|