|
.:.^b ��
<br /> . : _.. . �
<br /> . .: . ,� . --.- . . . : .
<br /> _ _
<br /> _. .. -_. . _. _. . . ..._, __., �m� _� :s ._:ta ::-`
<br /> C � ' �� • �f � ; .. i . t _ ..s . �- --;- -- — - - �S� �� �
<br /> _ . ;}� ��_e .,r.�... p . . , .' ' � _ . ,.�, '< F '/ .._.^__�.___..__..._�_��_.�`` _ - t` - / '
<br /> - ,. L,;L__ _ ' � _ � .
<br /> c. . . . ,.,�'
<br /> ����� ,"t" f('.
<br /> . . _ �;°� `. ``• '
<br /> g, Haz�rd or Property Insus'attce• Borrower shail keep che imgrovements now existiag or hereafter erected on the ':
<br /> '`�"' . ': '� properh� insured against toss by fire. hazards included within the term "extended coverage" and any other hazards. including ,- '_` j.�., .:`
<br /> •' �` floods or 8aoding, for which[.ender requeres iasurance. This insarance shall be maintained io the amaunts and for the periods . _ �: `.`V:.
<br /> � ' , ''i- that Lender requires.The insurance carrier providing the inswance shall be chosen by Borrower s�bject to Lender's appmval
<br /> � , . which shall not be unreasanably withhetd. If Borrower fails to maintain coverage described above. Lende�may. at 1-ender's
<br /> ' ' � option,obtain coverage to pmtect Lendet's rights in the Property in accordance with paragraph 7• -
<br /> '. � . All insurance policies and renQwals shall be acceptable to Lender and shall inclnde a standard mortgage clause. Lender
<br /> . � �� shall have the right to hold the poticies and cenewals.if L.ender requires.Hortower shali promptty give to Lender all receipts of ;�� � . � �
<br /> .. �� paid premium+au►d renewal notices. In the event of lass.Borrower shall give prompt notice to the insurance carrier and Lender. '' r`.o.'.:;°.,
<br /> j;;;;�_� Lender may make proof of loss if not made promptly by Borrower. " _� , '; `� `
<br /> - - — Unlrss Leader and Sorrower otherwise agree in writing.insurance proceeds shall be applied to restoration or repair of the - f_
<br /> .. '`". 1..4i,•� . .
<br /> .. Property dacrtaged,if[he restoration or repair is economieally feasible and Lender's security is not lessened.If the rescoration or �:
<br /> repair is not economically feasible or[.ender s security would de lessened,the insurance proceeds shall be applied to the sums ����. '
<br /> : � •: -.:r.,.:
<br />- , ' _ secured by this Serurity Inswment, whether or not then due, with any excess paid to Bornower. If Borrower abandons the ,
<br /> � Property.or does not answer within 30 days a notice from Lender that the insorance carrier has offered to settle a claim,then u �_�' . , � , ��, ,
<br /> - � _ Ixnder may collect the insurance prnceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> � , _ - secvred by this Security Instrument.whether or not then due.The 30-day period will begin when the notice is given. �, '.F.' ;;�
<br /> . ' � Unless L.ender and Borrower otherwise agree in writing, any application of procceds to principa! shal! not extend or . : r
<br /> Y� � postpone the due date of�he monthly payments referred to in paragraphs 1 and 2 ar change the amount of the payments. If � g ,s�.._
<br />. under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance palicies and proceeds resulting from ; , �:_.�
<br /> �� "' dar�age to the Propeny prior to the aoquisiuon shall pass ta I.ender to the extent af the s�ms secured by this Security Instrument �:. ': •.
<br />- � . �� �' immediately prior to the acquisition. : •� -----
<br /> .<��.;,� 6.Oocupancy,Preservatton,Maintenance and ProtecUon of the Properiy;Borrower's Loan AppUcatlon;I.easeholds. ..�y;d„�,_
<br /> � .. Borrower shal!occupy.establish,and use the Property as Borrower s principal reside�e within sixty days after the execution of ���•' •
<br /> • �. ,' . ' � ` this Security Incwment and shall continue to oocupy the Property as Borrower's principal residence for at least one year after . . �.��.;��}`:�--
<br /> - -- the date ef occupancy.unless Lender otherwise agrees in writing,which consent shall not be unreasanably withheld,or untess 's'=`:`.'.-:'��=`,:
<br /> d`�':.-
<br /> extenuating circumstances exist which are beyond Borrawer's convol. Borrower shall not destroy, datnage or impair the �,�_
<br /> , � Pro p e r t y. allow the Property to deteriorate,or commit waste on the Property. Rorrower shall be in default if any forfeiture -�;,_—_
<br /> . action or proceeding,whether civil or criminal,is begvn that in Lender's good faith judgment cou i d res u lt in fo r fei t ure o f t h e . ,�� �.r,.,,:;�;��::
<br /> .. , ...- . ';�;�. Property or otherwise cmterially impair the lien created by t6is Security Instrument or Leader s security interest.Borrower may `��..•3;,x :.
<br /> ` cure such a default aad reinstate,as provided in paragraph IS,by causing the attion or proceeding to br,dismissed a+ith a ruling .., '._ s�. �iz,,
<br /> ' ��:_�.
<br /> � . thzt, in Lender s goad faith determination, precludes forfeiture of the Borrower's interest in the Praperty or other material : :,��_-
<br /> � �"'' impairment of ihe lien created by this Security Instrument or I.ender's security interest. Borrower sha3!also be in default if �. t �
<br /> a. • Borrower,during the toan application process.gave materiaUy false or inaccvrate infomiation or statemenu to I.ender(or failed ' �'�T► ,
<br /> :,;�.:L-�,-
<br /> � to provide Lender with any material information)in connection with the loan evidenced by the Note,including.but not limited .. .. s��
<br /> � . to,representarions wnceming Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a • �;�.:;�
<br /> <��;_
<br /> �•• ieasehold. Borrower shall comply with a11 the provisions of the lease. If Borcower acquires fee title to the Property, the
<br /> � . '� teasehold and the fee tide shall not merge unless Lender agrces to the merger in writing. �`.-
<br /> •�. "�'—
<br /> _ .__ _ _ 7.ProtecRIon of I.ender's Rtghts in the Properiy.If Borrower fails to perform the wvenanu and agreements contained in --
<br /> . this Security Instrument, or there is a legal proceeding that may significantly affect l.ender's righu in the Praperty(such as a .` �'�
<br /> • •�� - proceeding in bankruptcy.probate, far condemnation or forfeiture ur to enforce laws or regularions).then Lender may do and � ,�`�
<br /> :..,.•,;_-
<br /> ._ pay for whatever is necessary to protect the value of the Property and Lendei s rights in the Property. Lender's actions may �.-_�
<br /> �:,.:�,.:
<br /> ' . • include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying .,;,,�.;
<br />_ ' �� �� reasanable attomeys'fees and entering on the Ptoperty to make repairs. Although Lertder may take action under this paragraph - --
<br /> • t 7.Lender does not have to do so. • �� ��,
<br /> ; - � Any amounts disbursed by Lerider under this paragrdph 7 shall become additional debt of Borrower secured by this � �='`
<br /> . . ...�
<br /> � ° . •' ' Ser.urity Instrument. Unless Borrawer and Lendcr agree to other terms of payment,these amounts shall bear interest from the _ � _,_
<br />' . . � date of disbursement at the Note rate and shall be payable, with interest, upan notice from Lender to Borrower requesting �•' �•�;:"
<br /> . .. payment. � .. .. -.
<br /> . ' � 8,Mortgage Insurance.If Lender required mort�age insurance as a condition of making the loan secured by this Seturity .
<br /> � " • �• Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the _ -
<br /> � � mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to • .
<br /> � obtain coveroge substantially equivalent to the mortgage insurance previously in effect,at a wst substantially equivalent to the .
<br /> � ' � cost to Borrower of the mortgage insurance previously in effect. fram an altemate mortgagC insurer approcac! by Lender. If
<br /> � . tiubstantially equivalcnt mart�age insurance caverage is not available.Borrower shall pay to l.ender each month a sum equal to _ ,
<br /> - • � � one-twelfth of the yearly mortgage insurance premium being paid by Bonower when the insurunce coverage lapsed or ceased to . :
<br /> • be in effect. Lender will accept.use and retain these payments as a loss re�erve in lieu nf mortgage insurance. Loss reserve ; .
<br /> ��. Form 3028 9/90
<br /> � � - Pa90 3 of B •• . . .
<br /> . . y;
<br /> — •--_� ....____� .- .;•� . .. . . , . . . .
<br /> , G- - ' . . •
<br />. _ ' � . . � 1 • , .�.,..�,.�...�..r_...�.,.....�.t.-•r•�--.-ra...^.;..
<br />. ` . .. . . . �� . , . . . ' . . _ ,•t�: a ,� _
<br /> ,
<br /> , _ . .
<br /> . . . .. . • � '' t
<br /> , .. _ .
<br /> . ,. . , .•�
<br /> , .. .� .,
<br />
|