|
� .;; ,������ — -- ---- _ _..__ __ _ -- _ __ . _
<br /> �...�.,. �• ,
<br /> ' . �,h.. .,�[`.:_ ,. ' .-=�4° ..
<br /> �"JWM ������w _
<br /> S. H�rtl ar Properly Insw'aACe� Harrowcr shall i:ecp the Impix.�vements now existin� on c�r�Rer erectec� on thc —
<br /> Proptrty insured against loss by fire. hucards included within thC term "�ntende+� c,iverago" u�ui any ather hazards, inciuding
<br /> ftoods or flacuiing, for which I..ender requires insura�ice.This insura�xc sfuill br mu;intaincxl in the uinounty nnd for the�serials
<br /> that I.oreder requires. The insurance carrier providing the insurance shall be.cht�sen�by Barrower subject to I.ender's approval
<br /> wiiicii si�all rx�t I�e unr.;a;uu::l�ly withh�td. If L�orrotver fails tn m4iniHii�covernga di�scrihccl nisove. Lender may, ut Lender's .
<br /> aption.obtain coverage to protxt I.eixler's rights in the Amperiy in accocdarx�e wlih parngrnph 7.
<br /> All insurance policies and renewals shall be accGptnble ta L.en�ler a►�d shall inelude o standara mortgage clause. l..erxler
<br /> shell have�he dght to ho[d the policles and renewals.If I.ender require.�,Bon�titi�er s?iall promptly give to I..ender all reccipts of
<br /> paid promiams and renewal notices.bi ttie evcnt of loss,Borrower shall givc pmmF�.natice to thc insuraiicc carrier and Lender.
<br /> Lcnder may ntake prnof of toss if not made promptly by Borrower. ,
<br /> U�iiess LaixSer and 13orrowcr otherwise agree in writing.insuranc�prncecds shpll be npplied to restoration or repa�r of the
<br /> property damagal.if the restoration or repair is ecom�mtcally feasible and Lender's �;�:urity is not lessenai.If the restoratian or
<br /> repair is not economicaily feasible or Lender's security would be lessened, tha ins�.in��ncc proceeds shall Ee applied to the sums
<br /> secural by this Security Instrument. whether or not then due, with atty excess p�fA to Bonower. If Borrower abanduns the
<br /> Property,or dors not answer with+n 30 days a notice from Lender thai,tihe insumEUio car+'ier hns offered ta satt�e a cluim, then
<br /> Lender msy collact che insurance proceeds. L.ender may use the pra:ceds ta re.pWir or restore the Ih�operty or ta pay s�uns
<br /> securai by this Security[nstrument,whother or not tl�cn diic.Thc 30�1ay period u�ilitbegin when the notice is given.
<br /> Unless Lender anci Borrower othtnvise agree in writing, �,►y ��r����i�n as,pra�d� to princiFa! she!! not exte�xi nr
<br /> postpone the duc date of the monthly payments rcferred to in pare��a�hs l a�xi ? or change the anwunt of thc payments. if
<br /> under paragraph 21 the Property is acyuired by Lcndcr,Ronower's riglst tu uc�y irl,snirancr policies and pr+oceeds resulting from
<br /> damage to the Prope�ty prior to the acquisition shall pass to Lender to t�e extevt of�ihe sums secured by this Secvrity Instnunent
<br /> immodiately prior ro the acquisition.
<br /> b.(�up�ncy,preservation,Mainten�nce and Protection oi th�a�Ftaperty�t8urrower's Lo�n Applics�t9un;Leasetwlds.
<br /> Borrower shall occupy,estublish,and usa the Property es Borrower's principal msx�lenos withio si�ty dnys atter the eaecution of
<br /> this Scxurity Instnunent and shall continue to occupy the Property as i��orrowcr's�arincipal res,i:�N�rx:e Cor at Ieast on�year atter
<br /> the data of occupat�cy, unless Lender otherwise egre�in writing, whlnh consr.nt�Fy;�all not be unreasonably withheld. or unless
<br /> extenuating circumstances s.xist which are beyond Borrower's contr.ol. Hum��YC,,n shall not destray, damage or impair the
<br /> Property, al�oM tlie Pr�c�y to deteriorate,or wmmit waste on thc Prope�ty:•.t#Y��:rrower shall be in default ef any forfeiture
<br /> action or pro�.�oeding,w�eti�e�civii or criminai,is ocgwi Ei�ai ii f.z�aSc.'s gx,�`�::h Sudan.-.in°^".t��!r!'c��t�n f�rf�itwe of the
<br /> Property or otherwlx met��a�1y.impair the lien creatad by this Securily In�tnnrr:•r;t or Ler.der's security interost.Boerower may
<br /> cum such a default and re.ins�ate,as provided in parngraph 18,by causu�g tho r��i�n�ar proce�ding to be dismissed with a ruling
<br /> that, in Lender's good farll►.dcterminution, precladcs forfelture ot Ut�Gon'ac.•:��;s intcrest in tt�e PrQp�erty or other material
<br /> impairnt�ent of the lien creatod by this Sccurity Instrument or I,ender'.s c,�xudty��Sntenst. Borrower shall slso be in defauit ff
<br /> Borrower,during the Iwm application,pmoess,gave materially False or inaqcumtu�inEortnatioak ar.t�tatements to Lcnder(or failed
<br /> to pro�ide Lendor with u►y material in.fonmation)in connection with ths laan evid�nad by t9�c Y�ote.inciuding.but not Eimitod
<br /> to,nepresentations conaming Barrower's occun9ne��of the Property aN a princ.fp{�i rosidarncc����this Socurity Insccument is on a
<br /> leasehold, Borrower st�all cumply wiilt all the orovisions of tha lestde. Yf Bonkawer ucquires fee title to the Property. the
<br /> leasetwld arK!the fee title shall not merge�►nless Len�rr�!�re!�ro the mer�Pr in w�a�ting.
<br /> 7,pirKa#ion o[I.en�kr's Righhv in the Property.If Bonowcs�ils tn perF.�urm the covenants and agreements oontained in
<br /> this Securiry Imtnxmrnt,ar thene is a legal praceaiing that may sign�i�cantly af'u�ct I.ender's rights in the Property (such.a&a
<br /> proceeding in bu�kruptcy,probate, for corxtemnation or forfeiturc:a�r�t�i enfom�;�3uws or rogulatans),than Lender may do and
<br /> p�y far whatever is necess�ry to protoct the value of the Propeny nnd�Lender�<<; rights in the Property. Lca�er's actions mny
<br /> include ptying any sanu secured by a lien whicli has priority ovec this Saai�iity Instrument, appearing in court, paying
<br /> reasonable attomcys'fe�and entering on tho Propercy to make repair3.AlthUt►;�h I.ender may aake actiQn uiulcr thls paragraph
<br /> 7,I.ender does not bavc to do so. �
<br /> Any amounts disbursod by Lenctor uixler this puragreph 7 shuU bxoxnn�additioruil tk'�t�of Borrower socural by this
<br /> 5ecvriry Instcument.�Jnless Borrowor and Lcndcr agra to other temi�oT Qxyntxm.these amounts shall txar intnrest 6nm the .
<br /> date of disbursement at the Note rate and shall bc payable, witF�intum.cc;u�aa notice from Len�er to Borrower requesting
<br /> paYmont. . . � '.
<br /> 8.Mor(�e Iusvtxuoe.If Lender requi�rd mortgage insuraace as a coxxlittan of making the loan sxurod by this Security
<br /> Insccument. Borrower shnq pay the premiums required to mainfstin tho mort�qge insurance in�ffect. IC, Cor auy reason, the •
<br /> �. mortgage insurina covernge requirod by i.ender lapses or ceases tu bo:i��e£f�sxe,,.�orrowcr shalt pay the premiums required to ;
<br /> obtain�overage substantially a�uivalent to tho mortgagc insurnnce proviou5�}'4�e�effect, at a rnst substantialiy oquiv�lu�t to the
<br /> cost to Bocrawes of the mortgagc insurancc prcviously in effecc, from an N�tiirnate mortgage insunr approved by Leadcr. If
<br /> substa�xia1;l;y,iqnivalent mortgage insurnnce coverage is nut avaifntile,l�onn�vcs sBall pay to Lender each month a sum eqaal to
<br /> one-twelRl�oP th�yearly mortgage insurance premium being pa;�''by Bon•otiti•�r urhen the insutance coverage lapscd or ceased to
<br /> bc in cffxt.i.ender will�ccept,use and retain these pnyments ay a loss r�;sc7va��.n licu of mortgage insurance. L,oss tesecve
<br /> Porm 3028 8l80
<br /> . ' � Peq�3 u18
<br />
|