|
- �
<br /> � r t�
<br />. .
<br /> . ,, - .
<br /> � � ,.�� �.r.,�� �'" _ - '._ "—,'- -- -._.
<br /> . ,: �.. •,
<br /> . :.�� .r ,_ � ,
<br /> 'e!� • � -- . - .
<br /> ' � ��� itJOi�il�7 --
<br /> — S. Nar�rd a' Propa'lY Ia�un��ce. B°n°wer slwll koep�he improvements now existing or hereafte� erocted on tho
<br /> - Property inwred c�alnat loss by fire,Iw�ards included within thc tertn `extendoa ooverage" and any oti�tr haz�rdy. includin�
<br /> � — Aaods ar flooding. for w•hich Lcnder requires iruuran�e.This insuauuc�twll be rtwinwi�x�J in�hc omouius aml i'or the periodr
<br /> �� that Lencler requirc�.The insut�nce carrier pmvlding the fnwrwice �hAll be cha.ren by &�rrower Rubje�t�o Lender'a approval
<br /> which siwll �xit be unreasonAbly withhcld. If&�rrower fail�to muintuin cnverAge dc.scribod aM�vo. L.ender mrrY. at Lcider��
<br />-;� 'I option,ob�ain coverage to prWect L.ender's�ights in the PropeRy in uceordance with p4raBruPh�•
<br /> All insuiw�cc policfes and renewuls shnll be acceptable to Lcndzr and shull include a stands►rJ mortgAge clause. L.ende�
<br /> and
<br /> --� -- shall have the right to haW the policies and renew�ls.If Lender rcquires. Bottower�f w l l prom p t ly give to l.e t x l e r o l l r e c e i p t�oP r
<br /> �+aid prcmiumg and rencwal notices. ln thc event of lass.Borrawer shall�ivc prompt naticc tu the iosuranca carrier und L..e�der•
<br /> t,ender�y make proof of loss if nat made promptly by Borrower.
<br /> Upless I.ender and Barrower otherwise�gree in writing,insurunce proceeds shall be appliod to restorutiun ur repei�of the
<br /> � — property damaged, if thc restorntion or r+epair is ernnomically feuvible nnd l.ender's securily is not lessened. If the restorutian or
<br /> —�� repair ia not economically feasible ar Lendcr's security would be lessened.the insu�ue proceEd °hull be appliod to the sums
<br /> secured by�his Security Inslrume�t.whether or ncx then due. with any excess paid to Borruwer. If Borrower alsandons the
<br /> _ _ Property, or does not answer within 30 days u notice from l.ender that the insurance canier has offered to settle a cl�im.then
<br /> -- L.ender may collect the insurance praceeds. l.ender may use the pracaecis to repair or restore the Property or tn pay sums
<br /> --� _ �% '� securcd by this Security Instrument.whether ar not then due.The 30-day period will begin when the notice is given.
<br /> y� ` Untess l.ender and Borrawer otherwise Agree in writins.uny applicatian of proceeds t� principal shall nol eztend or
<br /> postpone 1hc due date of the monthly payments referred to in paragraphs 1 nnd 2 or change lhe amount of the puyments. If
<br /> � � �'� under parogroph 2l the Property is acquirad by I.ender, Borrower's right to any insuranoe policies and proceeds resulqng from
<br /> � � .�" � dnmage to the property prior to the acquisition slwll pa4s to l.e�uler to the extent of the sums secured by this Sa�udry In4trumeat
<br /> � �: `'�'"� iinmediatcly prior to the acquisition. -.
<br /> �;�:...�:.,, . . .
<br /> �,,,:�,.s�.: :. � .� 6,pccupancy,Preservatioa�1Naintensu�ce and Protection of tde Property; Bomower s Loan Application;Lc�aselaldc.
<br /> �:�__.�y,, ,:y~t�, Borrower shall cecupy.establish,and use the Propeny us Borrower's principal residence within siaty days after the eaecution of
<br /> ;�°,- •• • r this Security Instrument and shall continue to occupy the Propeny as Borrower's principal residence for ut least one year efter
<br /> R ''
<br /> � v :. �,. � � the date of occupuncy. unless[.ender otherwise agrees in wridng, which consent stiall not be unreasonably withheld,or unless
<br /> -��� ���•. extenuating aircumst�ces eaist which are 6eyand Borrower's control. Borrower shall not destroy. damage or impair the
<br /> ��'�"�.�w:::.
<br /> — ; .t_ , ,: praperty, ullow the Propecty to deteriorate, or commit wa.ste on the Property. Borrower shall be in default if eny Porfeuure
<br /> �._..5.�, : � action or praceoding, whether civil or criminal,is begun th� in Lender's good feith judgment could result in forfeiture of the
<br /> ' �� � Property or othcrwise materially impair the lien cirated by this Security [nstrument or l.ender's security interest.Borrowet tnay
<br /> ',. �..� .-.M•��. .;, cure such u default and reinswte,as provided in paragraph 18,by causing the action ar proceeding tu be dismissed with a ruling
<br /> ' � '" thut, in Le�er's good faith determination, precludes forfeiture of the Bonowe�'s interest in the Propercy or other materiW
<br /> �' r ;;a rmeni nf she lIen created hy thiv Security In�trument or Lender's securiry interest. Borrower shall also be in defauit iP
<br /> ;=:7.-r;- .__^:_..� P�
<br /> � .. -�,�.yw,;�, � Borrower,during the loan application prnceas.gave materially false or inaccumte inforn�ation or statements to Lender(or fvlod
<br /> to provide Lender with any materiul information)in connection with the loan evidenced by the Note,including,but not limitod
<br /> • � �f�'' to,representutions conceming Borrower's occupancy of the Property as u principal residence. If this Security Inswment is on A
<br /> — '"` leu.sehold, Bc�rrowe� shull camply with all the provisions of ihe leuse. If Borrower acquires fee title to the Property, the
<br /> — `"""'°`'`'n'''' leuschold And the fee title shall not mergc unless I.cndcr agr��es to tbe mcrger in writing.
<br /> " " 7.Hntectlon of I.ender•s Rl�hts in the Property.If Barrower fails to perform the covenanls and agreemeMs contained in
<br /> x ;,t:
<br />-- " _�� this Security Instrument,or there is n legul proceeding thut ms�y signifiranUy affect Lender's rights in d►e Property (such as a
<br /> praceeding in bankruptcy, prob•rte, for co�xfemnation or forfeiwre or t��enforce laws or regulations), then l.ender may do a�d
<br /> �� • �A'...�h-�'`3 :;;,:�. pny for whatcver is neces�ry to protect thc vulue of thc Pmperty und l.endcr's rights in the Property. l.ender's actions may
<br /> _�� " `'� include paying nny sums serured by a lien which has prioriry �wer this Securiry Instrument, appearing in rnurt, paying
<br />"� ' reasonable uttorneys' fees su►d entering on thc Property to mal:e repairs. Althcwgh Lender mny take action under this parag�aph
<br /> — �°'��` r 7,L.ender does not have to do so.
<br /> — :;,�;., ..,,. .
<br /> ` �• • Any amounts disburseJ by Lender under thi, paragruph 7 shull 6ecome udditional debt of Borrowzr secured by th s
<br /> �� ..
<br /> � wr Security Instrument. Unless Burmwer und l.endcr agree to other tcrnu of payment,thetie amounts shstll bear interest from
<br /> �•�-� �� ,. date of disbursement at the Note ra�e nnd shall be payuble, with interest, upon notire from l.ender to Borrower requestin�
<br /> • a • payment.
<br />�:�.� �;;;&..., ., ,
<br /> _ � 8. Mortgage lasurnnrn. tf Lender reyuired mong�ge inwrance as�rondition of muking the lu�n secuced by this Securiry
<br /> '��r:;�""" Instrument, Bc�rcower shall pay the premiums myuir��f to maintain the mongAge in.�unuice in effect. If, for any rcason, the
<br /> '� mortgage insurance coverage rcyuired by LenJcr lapk�or cea,c, to bc in effctit. Borcow•cr �h;►II pay the pnmiums required to
<br /> �:����•'� obtnin cov�rage substamiully equivnlent to the mnngagr insurance previou�ly in eff��t,ut a cost aubstantially equivalent to the
<br /> --�- .�'�''"' cost to Borrower of the murtgage insurance prcviously in effect, fnim un alternale murt�age insurer approved by Lender. If
<br /> ' ' ,,,,: _ substantiully equivnlent m��rtgage insurancc coverage ix not availahle, &�rr4�wer.hull pay to Lender cach month a sum equal to
<br />— :� one-twelRh of the yearly mon�:age imuranc�premium Iking p•riJ h�•&uruu•er whcn thr in,uranrc�overage lapsctl or ceased to
<br />_= . •• be in effect. Ixnder wi0 uccept,use and retain�hese payments:u a lo�s rc�n•e in licu ui mortgage insur.ui��c. L.oss n.�serve
<br /> ��_: .�_� � Form 3029 8/80
<br /> .�� �, v.ye a oe 6
<br />.� .
<br /> .�. �__' '_ ..
<br /> / ' � � .
<br /> . �i�. . � . . .. . . . . ... _ '_ _.._'. _...;... � .: � �_�K�. 8J.
<br />;� �'
<br /> "�.! �� -
<br /> �!�!Y.��-- --s'��--d- -- - '-'
<br /> - —� - - - _ - - ---- — -
<br /> r - - — - -
<br /> -.� . . --- - . . - . .
<br /> a " ..
<br /> v _.._
<br /> - .. '�, ..+�
<br /> ,. • „ .
<br /> �
<br /> � � _ _
<br />
|