|
. � :. ,:.. . ... . . . . . . . .. .. _ . ' _ . _ . '
<br /> �l . .. . . ; ` _ �4 . . ' ` 5� - ' .. . � _ ' --.r�
<br /> -.-��-.i ."-�-�--�'��T^f�-�-�-�-�-_-.
<br /> c. ,_c . . _—. . <f , ' .• , . •^--r��- ,. � v , . , . - . . � ���'4 �,�1..
<br /> w a ���'_
<br /> � V��'7�� �^�n,�'.__
<br /> : � �rt-.
<br /> �.-'._
<br /> 5. g�� oT �petty �nsu�unce, Borrower shall keep�e improvements now existing or herea,`te� erected on the �„__
<br /> `i.4.+
<br /> `� Property insw�ed against toss by fire, hazards incladeti within the cerm "extended caver.►ge" and any other h�ards, inclnding
<br /> flaods or ilooding. for which L.ender requires insuraitoz•'Ili�s insurance shall be maintained in[he amoumr an�for the periods ..LT..;_
<br /> that Lender mquires. Tite insurance cartier providing the insurance shal! be chosen by Borrow�r subject to Lender's approval �o�
<br /> ' which shall not be unreasonably withheld. !f Borro�ver fails to maintain coversge described above, L.ender may. ;it Leceder's �S4
<br /> �.�,.,4..._
<br />_, opt'ton,obtain coverage to protect Lender's ri27hts in the Property in acrordance with paragraph 7. —v�.�
<br /> _, �
<br /> All insurance p olicies and renewals shall be acceptabfe to i�ndec:uid shall include a�Y� mnrt�aee clause. I.ender — -
<br /> sball have the right to hold the poficies and reaewals_ tf Lender requires,Borro�ver shall ro tl ive to Lender a11 receiPts of ;
<br /> ' Paid Premiuins and�enewal norices. Yn the event of loss.8orro�ver shall give prompt notice to the insur.uice carrier ami Lender.
<br /> adc rom tl by Borrower. �r,t'
<br /> Lender may make pnQOf of loss if nat m p P Y �`°=..
<br /> "� Unless Lender and 8orrower otheewisP u8ree in �v�ting.insurance pro�eds shall be applied w re�toratian or�.iir of e
<br /> ��_y
<br /> Property demaged,if the restoration or repair is economicaliy feasible and I.ender's security��rt�ocs���b app�to°hQ°v� ��.-
<br /> repair is not economically feasible or Lender's security�vould be tessened.the insurance p _
<br /> �.,'_.,
<br /> securai by this Securiry Instrument, whether or aat then due, with any excess paid to Borrower_ If Borrower abandons the .
<br /> property,or does not answer within 30 days a norice from Lxnder that the insurance carrier has offered to set oT�o, a�s 1urns �_�
<br />"'..Y Lender may oollect the insurance pruoeeds• Lender may use the proceeds to repair or restore the Properry P Y �_, _
<br /> secured by this Security Insuument,whether or not then due.The 30-day period�viQ begin when the notice is given.
<br /> Unless Lender and Bomo�ver otherwise agtee in writinB• anY aPP�i�tion of proc�eeds ro principal shall not extend or �..
<br /> ee
<br /> poscpo�the due daa�tee of the monthly payments refem:d to in puagraphs 1 and 2 or change the amount of the paymeau. If �;__
<br /> d � y 1►cies and mceeds resulting from �=
<br /> under Qaragraph 21 the Froperty is acquired by Lender.Borrower s ri t to an insurance pu� P -
<br /> � damage tc,th�property prior to t he acq u i s i t ion shbil pass w L.ender w the extent of the sums secured bY this Security lnstrument �'"�;::
<br /> �
<br /> --- :,..,�,�:�rptu nri�r to the acauisition. �...o...�w.ava►��e B nnn Annlic9tEon:LE'38E:II0«S. . .�.�._
<br /> _= 6.(Dr�pancy,Presernattoa,A'daimte�ance aa�Plrntecuan ai�r r.�•v,.....__.._ _ �-,�,;'
<br /> �3orrower shal!occupy.establish,and use tl�e Prepe�.y as Borrower s principal residertce wit6in sixty days after the execution of �..
<br /> this Secwity lnstivment and sttall continue to oca�{sy tfie P�uPert3'as Borrower s principal residence for at least one Year aftei �;��
<br /> che date of occupancy.unless 1-ender athe�e agrees in'�riring,which cansent shall not be�nreasonably withh�eTd��!uil� �,�,e
<br /> ' e�cteuuating cin-umstances exist wfrich are beyond Boarower's control. Borrow&er'�p���b tr0n�defd au�ltgif any forfeiwre T_ ,-
<br /> property,altow the Froperty to detetrorate, or comm�waste c.a ttr� ProP�rtY•
<br /> :�c:tion or proceeding.whether civil or criminal. is�1c-�,'un t�at is� L�d�r's gaod Eaich jud�t could r�esult in forfeiture of the � �
<br /> property or otherwise msfrrialty impair the lien crerr�a�:w'�:�s c�ry I���°r Lender's seeurity incerest.Borrower may
<br /> �-:: :
<br /> cure sucli 3 c'sfault and r�instute.as provided in par��:�:�z l8.�y cs':��°S�e�'�or proceeding to be disa::ss other Qeaterial
<br /> that, in [�zc+�.r s good faith determination. precludes forfeitur.:aE rhe Borrower's interest in the Praperty �... . ,.
<br /> .' impaimr��of tite lien created by this Securiry Instrume.nt or�.'r's securiry interest. Bmmwer shall also be in default if ____,
<br /> Borrower,dnring the loan application process.gave caaterially false or inaccurate anformaaan or state�nents to Lender(or failed ��,�{f:_
<br /> to provide Lender widt anY material�nf°*mauon)in connection with the loan ebs�nced by the Note.includin�,but not limited -__ _
<br /> � to.representativns concemi°S B°r''°wer's occupar�cg+of the Properry as a PrniciP�.i.�esidence. If this Security Instrument is on a �
<br /> leasehold. Borrower shali coniply with all the provisians of the lease. If Borrower acquirrs fee title to tt►e Property. the ' �
<br /> leasehold and the fee title shall crot merge unless Lender agmes to the merger in writing.
<br /> 7.Protection o4 Lendet''s RiP,hts[n the Pcoperty.[f Borcower fails to perform the covenants and agreemenu contained in �„
<br /> this Security Instrument,or there is a legal prace��i�r�thut may significanUy sJri�ec7 Lender's nShts in the Property(sach ns a �-.°-
<br /> ' proceeding in bankruptcy,prcbate.for condemnatia�ra•nc£orfeiture or to esffor•�e Gaws or regutations).then Lender may do and � .�_•
<br /> � pay for�ui'r�tever is necessary to prarBCt the value a:�ti►e Pcopem; and Lender s rights in the Property.Lender's actlons may �
<br /> include �z:v,��g anY sums secured �I� �� iien whic6 has prio:vs} ��ver this Security Inss�ur,ez►1. appearing in court. payi.ng ��
<br /> �,y
<br /> ' . reasonac��attomeys'fees and enter.r„��.�tt►e Prcperty to make::�airs•Althou�,h I.ender±�;.sr t:ake aciion under this pz�r,b--aph � ,:
<br /> 7,Le�nder does noi have to do so.
<br /> Any amaunts dis6urse8 by I.r�:•.".�.°r under ii;�::< paragraPh 7 shall Decome auditio:,».' ,s-�bR of l�a�'':+.w=r secured by this �
<br />..:'.: �:::.
<br /> � Security Instrument. Unless Borra�;:w�,�d Lender�+ee to orlTC.r rzrms of payment, these;�,��s:,nts s�§�eF.7 interest fcom the —._
<br /> date of disbursement at the Note r�:and shall be payable, u•i� interest. upon notice�i-�T•i..e+►der w 8orrower es�a��u�iin� r_
<br /> payment. •
<br /> � S.Mortgage Lusiams+acv�.If Lender required�rnar.s�bage insurance as a con�aa:��n of mnking the l�an secvred by this 5ecurity
<br /> u
<br /> Instrument. Borrower;stn3il pay the premiums req:�ired to maintain the mort�f�r. insurance in effect. if. for any reason. 1he �,
<br /> � mort�age insurance coverage required by Lender lapses or ce�es to be in effect.Borrawer shall pay the premiums required to �
<br />`'_'''��� obtain coverage substantially equivalent to the mortgage ins�ran�x previously in effect,at a wst substanrially equivale.;�i z�the �
<br /> cost to Aorrower of the mortgage insurance previously in ef��cr.. from an altemate mortgage insurer npproved by i�xi�c• If
<br /> � substantiully equivalent mortgage insurance cover�,te is nQS a��i.L•�i?1�;, Borroa•er shall pay to Lender each month a suni a.�ral to
<br /> � on�twelfth of the yea*ly mortgage insurance prem»un b:�i�Pai3[��L'orrovrr:when the insurance coverage lapsed or ceased to �a�-��
<br /> �.� 6e in effect.Lender wiU accept,use and retain tlte:r.•��zymenu as a loss reserve in lieu of mortgage ir���sxnce• Loss reserve
<br /> Forc:�3�9Z�G 9/90
<br /> �� vagn 3 0+e __..-
<br /> . . ' . ' . . . , ' . .. ... • .. � +` . • . ,;��f(?1;��;'.:.;:,. ' • _
<br /> :' • . .. • , • . + . �rd'�'. .
<br /> ; ' .. . '' . � . �. . • ' ' � , ' ' .. ' � � . � .. .
<br />_ ' ' G ' ' . . ' � � . •. , _ . . � •�tu,. ' , . . . � _ • � - ..� t�'—.f.
<br /> - . � ' ' ' . ' ... . '[� : .. � . � .. � .. � ' . . . _
<br />. . . � - . . . -t _ � . u " ... ' . . . ' . . . " _ .
<br /> . _ - ' . . , . . .. . ' _ . • ... ....... . ' .. � _.',.... .;. ` .. ,. • . .
<br /> .. . . _ ... . �� _ . .�. . ' - • - . • ,. ;�
<br /> . _ . ' � . . ' • .� _ . .� - , t\� . _ . � � ♦ ..i� . . . - . ' .. .i. . . . . . . � .
<br />
|