|
� .-"�i�-..s:�d .. . .. . . , .. .. . . � . . :��`i` ���i5`�:[:�
<br /> t:,::
<br /> .. . . . . .._ _ '_ — .— . ____cY�,-•..r�-
<br /> ' ..: . . . _ , . _ . , . � .
<br /> .' ..
<br /> � . . .� _.. _. _ . .. . . . . . "_ ' _ . ..� ' ' ' � ' :.
<br /> . � ' . .. ,_ . . `
<br /> .. . . . .._-.
<br /> .. . : . � . ; �.. .. .. .. . ......_.._ - r
<br />.: . ... . � ^. _, .._., _._- " ' ...._�. ..c.-�_'_... ....�__ - .
<br /> � � . ��_.�. 'NL�—' .. - . . . ...� .. _.-._.__ ... ('.f .
<br /> ; . ' `� ��o������� ... .�� �...
<br /> • � ; S.Haaa�rd or Properiy Insnrance. Boirower shall kcep the improvements aow existing or hereafter�ected on the Pcope►�y - ,
<br /> � � insured against loss by �.hazaNs included within the te�m "eatended coverage" and any other hazards,mcluding ftoodz or ° ` : c
<br /> ` � tlooding,fes which I.ender requires mswanc�17�is insuraace shall be maintained in tfte amounts and for�he peaiods that Lendea
<br /> � . � .� � �q�'11is msurance c�ai�provid'mg�he ins�uance shail he chosen by Borrowes sub2ect tn Lende,r's agpsoval whictt shall noi . ._ .
<br /> � ` ': i be unre�onablp withheW. If Boriowet faiLs to nnaanraia covecage desrnl�ed above. Lendea may. at Lender's option,nbtain � ° , .
<br /> , i wvemge tn ptotect I.eader's rights ro the Property ia aocordance with patagrdph 7. � .
<br /> . � All ins�uance Dolicies and reaiiewals shall be acceptabte to Leade.r and shall include a standard mortgage clanse.Leuder shall ,
<br /> . rea ve to L,ender all receipts of paid ' � -
<br /> � ° ,, � .� � {rdve the right w hcild the policies and reaewals.If Ixnder retlui�s,Bouowrr shall pmmPttY gi�r�a�rier and I.Ender.I.endea : • '
<br /> � ; ; � ptemi�s aad reaewa!notio�.Ia the event of loss.Bomnwer shall give piompt notice tfl the ' .
<br /> may make pmof of toss if nat made pmmpttY bY Bormwer.
<br /> � ' Unless I.ender and Bomnwer othecwise agree�n wri�ng,��P�shall be applied to resmrarion or repair of the
<br /> - , - •.-.=-- ` � pmperty damaged,if the rptosation or repair is economically feas�le and I.end�'s secutity is not tessened.If the zeswnsion or i_�:,__--_.___ .
<br /> . • ~ � �epaiz is not economically f�le or Lender's sec�riry would be tess�ed,the a�surance pmceeds shall be aPPlied to the sams � ;�
<br /> � sectnred by this Secntity Insuument.whether ar¢ot the�dus, witlx a�►Y excess paui tn Baarower. If Borrower abandons the ._ ,r;�.
<br /> , � praperty,,or does not answea within 3Q days a notice from L,eader tbat the imsarance ca�rier has offemA to settte a claim,then . .
<br /> - . � � Lendea may coIIect the insu�ance praceeds.Lendea may use the pmceeds oo repair or�eswre the Pmpetty or m pay sums secured _
<br />- �- . ' � by this SecuritY Insuu��t,whsther or aot then due.'ltie 30-day perind w�l begin when the notice is given. . . _ -
<br /> • '- Ualess Is�dea and Bom�wa oth�wise agtee m wiiung.anY aPPlication of pmceeds to principal shall not exL�d or postPone _^_y;
<br /> � �. ' the due daze of the mon t h l Y PaYments referred tn ia parag�aphs 1 and 2 az change the aawunt of the payme�is.If under Paza�1► . `:.�"f'�,
<br /> _. � � 21 the Fmperry is acqu�ed bY l�nder,Baimwe,r's right to aay ms�ance poliaes and gmceeds resalung fmm damaSe to the - . :�..,l.-,
<br /> ' � �P�Y P�Oo the acquisuion shall pass to I.emded to the extent of the sums�ed by this Secasily Inst�umeat immediately -`�=��-�.�.
<br /> i,S�,a���
<br /> . � priar w the aoqoi�aion. Borrow�'s Loan Application;l.easeholds. , - _
<br /> Preservatioa,PVlainteaanoe aad Protedion o4 the Properi9i . -,: ,. �
<br /> . � 6.Qa�upaucy. s aftec the ea�ec�on of '
<br /> ' . •� Bomnwer shall occupY,e�bl�sh,and ase the Yropeaty as Boirower's principal residence within�xt}►daY _ ,�'�,°�
<br /> . dris Se�uitY IasCnimeat aad s6aD continue to occuPY the ProP�Y as Borrowea's principal resideace for at least one yea�r aftea the ' �• ;-.�. :=
<br /> ty withheld,or uuless .1•.�'��u
<br /> � � d a t e o f o c�a a c y.u n l e s s L e u d e r o t h e l w i s e a 8 e e e s m writin g,which coaswt shall not be unteasonab ,' -
<br /> extenuaating cina�mstances exist whic6�e beyond Borrowea's co�nol Boirawer shatl not desuoY,darnage a��P���i'�1'• -
<br /> >-���
<br /> u n _:�.i�`=
<br /> �' allow the Property to deteaioiate.or cammit wa�te oa the Pcoperty.Boaowea s1�aII be in defaalt if any forfeinue aaran or i w;.
<br /> ', pmceedIDg,whether civl or criminal.is begun tbat in Imd�'s gaod faiih judgment conld result in forfeiUue of the Pcopeny or '
<br /> :�j4;;'''��--�:.
<br /> �•.�.�:
<br /> ' � � othe�aise mateaiallY maPair the li�created by this Secasiry Iasuumwt or Lendds security int�ess.Bomnwea may aue snch a ;��'r.c;;
<br /> to be dis�missed witb a raliag that.in ,�,' � -
<br /> !� 18 by causing th e a o a o n or proceetlin g ,� �. •"
<br /> . � defavlt and reinstate.as�ovided in parag� . __ .._ ``�'z` .
<br /> L e a d a r's g a o d f a i t h d e t e r m i n a t i o n,P r e c l u d e s f o r f e,i�u e of the Bormwea's int�est in the Propeaty ar other mauaial anpauznent of ;,;��'�.�`
<br /> the lien areated bY this Se�ritY Iasaameot or L�der's secarity inteaest.Bosower shall also be in defanit if Bouowea.dur�g t he . ':'.<��.:4:
<br /> �` . • loan application psocess.gave materiatiy fatse or i�aoauate�fonnation or statements to Leudea(or fa�ed to piovide Lendea with r ��;j,�, ;:
<br /> .' any material infom�auon) in connearon with tt� �an evidenced by tLe Note. inclading,bnt not limited to, reP�esentations �•.:i�.,��q?;_
<br /> ��� � concemu►g Bosrowa's oc�capaaey of the Pmpaty ag a grnscipal se.�deace.If this Secwriry Instrameat is on a Iea�hold,Bosrowea . , `.�;:`.:��_
<br /> shall comply with aU the provisions af the lease.If Bouower ac�q�es fee title ro tha Properey.the leasehold aad the fee tstle sha11 . .� ��';���":*_
<br /> u
<br /> . not merge twless I.ender ag�ees�o tha meager in writing. � -.� '
<br /> � 7.Prote�ion oi Lender's Rigbts in the Ptoperty. If Boirawea fa�s w perfatm ttie coveaanis and agreements contamed in _ �`�_
<br /> ., �, --� this Seavity Ynsuument,or the:e i�a 1ega1 PmceedIog that�Y�A���Y affax I.endet's rights in the PropertY(sucb as a �=
<br /> ' � pmceeding in banl�uptcy,prohate.for wndemnation ar forfeiture or tfl enforce taws or regulations),then Lend�may do and pay �;�:
<br /> � � ��=' for whate�er is ne�ssary to Pmt�t the value of the Frapeaty and I.sndes's rights in the propeny.Leader's actions may include __ . - _='--_
<br /> paYmg any sutns sec�ued by a tiea which has prioritY over �his Serauity Tnswment,aPP�B m co�ut,PaYing reasos�able � s,:;M•.�'
<br /> h 7,Lender �:•t�`�:;:
<br /> . attomeys' fees and ente�ing on the Pcape,r�y to make repa'as.Although I.ender may take action undea this paragrap . _ _.
<br /> �r�r
<br /> does not have w do so. ' • � •_„
<br /> �'.? � My amoimts disbutsed by Lendea under this paragisph 7 shall becorae additiuonal debt of Bonower secu�d by this Sec�uity . ...:;-
<br /> Instcvmeat Untess Bosrower and Lender agrce to atha teccns of payment,these amounts shall bear interest from the date of ., ,�,
<br /> - . disburse�wt at the Notc rate and shall be payable.with interest,Qan notice from Lender W Boirower requesting payment �
<br /> � ' S.Morigage Insurance. If Lender required wartgage ins�ce as a condidon of malcing the Man secured by this Securiry .. .. .
<br /> . . . �� .
<br /> . . � Lutrament,Borrower s5ari pay the premiums required to maintain the mortgage ins�uance in effeq. If,fPr any reason.ihe .
<br /> all
<br /> , . , mongage insurance coverage required by Lender lapses or ceases w be in effect,Bomnwe�shall p�ay the premiums required w . . .
<br /> ' � obtain cov�aage substant�ally equivatent Go the mortgage insurance previdusly�n effect,at a ces�ssbstantially equiva2ent w the .
<br /> n
<br /> wst w Borrower of the mortgage msutance previously in effecL from an aitemate mortgag,e u�siuer approved by Lender.If
<br /> .... � • substantially eqnivalent mongage inswance coveaage is not available.Borrower shall paY to l.ender eacb m°nti�a sum equal to � . ,
<br /> � '.� one-twelfth of the yearly mortgage insarance premi�un being paid by Horrower when the uisurance coveaage lapsed or ceased to .
<br /> � be in effect.Lender wiU accept, use and retain these payments as a toss reserve in lieu of mortgage ins�uance.1-oss resecve .
<br /> � Form 5028 9/90 �
<br />- - . `� �•8R(NE)tg2�2►.0+ Page3o18 miaair.. - - � ,�
<br />. • ; " ,
<br /> � • - - . _ -- -- — . .__ .- -----.__.._.._ .. ... w_ . . .
<br /> ... , . ...-- -
<br /> r .... .___.__ _ . . .
<br /> ;; . � � � . �.
<br /> _ �, . • .
<br /> : .:��. -
<br /> ..; _
<br /> •� , � �
<br /> ' ...�.r..,+..ti., _"�. .u;:x ' -:'."' ;�..�
<br /> � , , ,, . � .. � ..
<br /> � .• �
<br /> .
<br /> .
<br /> ....y . . . . .�� .. , n. • . . . . � . . �i .-� -'-' rr.-"--- - _._:..�, s_ .__ . .�_ ���� ... . . . ... . .� r. - � -"_ .. . ..'���,tip•..5:,�• r -i\".
<br />
|