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<br /> � S, fl��u�rd or i'rnperty litisurumc. llorrc�wcr shrill k�^ep thc impruvcmrnts nuw cxi�ting cren ccr crectcd on thc
<br /> Properry insurcQ ag��inst loss by fir. haiard� includcd within thc tcrm'��xtcndcd covcr.igc" and any othcr hazards, includin�; -
<br /> floods or(looding, fur which l.endcr rcyuires insurAncc. "fhis insurincc sliall bc maintaincd in tli�amounts and for thc periods
<br /> ►hat L.cndcr rcyuires. Thc insur:sncc carricr providing thc insurancc shall bc choscn by Borrow�r subjcct to Lcndcr's approva] -
<br /> which shall not be unreasnnably withhcld. If Borrowcr fails to maintafn covcragc dc�cribcd above, l.ender may, ae L,endcr's
<br /> optton,obtain caverage to protect Lender's rights in the Propeny in accordance with plragraph 7.
<br /> , All insurance policies and renewals shall 6e aceeptnble to Lender and shall include a standard mort�age clause. Lender
<br /> shall have thc r;ght to hold the policies and renewals. If i.ender requires,Borrower shull promptly give co Lender all receipts of
<br /> paid premiums and renewul notiees. [n the event of luss,Borrower shall give prompt notice io Qie insurance casrier and I.ender. ,
<br /> Lender may makc proof of loss if not made promptly by Borrower. '•"
<br /> Unless Lender and Borrower otherwise agree in writing,insurancc proceeds shall be applied to restoration or repair of the
<br /> .'" Property damaged,if the restoration or repalr is economically feasible and Lender's security is not lessened.lf:he restoration or �� . . ..
<br /> repair is not economically feasible or l.ender's security would be lessened,the insurance proceeds shall be applied to the sums „ ,,.,, ,•` :
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<br /> secured by this Securlry Instrument, whether or not then duo, with any excess paid to Bonower. If Bonower abandons the ,,,f;,;�,;w,
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<br /> Properry,or does not answer within 30 days a r.otice from L.ender tha�the insurance carrier has offered to set[le a claim,then :r�;���.
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<br /> Lender may collect the insurance proceeds. I.ender may use the proceeds to repair or restore the Propeny or to pay sums ti,:r_--�___
<br /> � secured by this Securiry Instrument,whether or not then due.The 30-day period will begin when the notice is given. ';.�
<br /> •t Unless Lender and Bonower othenvise agree in wricing. any application of proce.eds to principal shaU not extend or ;,
<br /> k i pastpone the due date of the mon t h ly paymen ts re f e r r e d t o i n p a r a g r a p h s 1 an d 2 o r c h a n g e t he amount of thc pa yments. If ; -�_
<br /> r � under paragraph 21 the Property is acquired by Lender, Bonower's right to any insuranee policles and proceeds resutting from ••. s`�
<br /> �; � damage co the Property prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Security Instrument ..a;:1
<br /> � immediately pdor to the acquisition. �:;.
<br /> � 6. Occupancy,Preservetion,Maintenance and Protection of the Property;Bo�rower's Loan Appl(cation;Leaseholds. : .s Y.;
<br /> � Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execution of ��
<br /> � this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after ;;:k�{;•'
<br /> 4 { the date of occupancy,unless L.ender otherwise agrees in writing,which consent shall not be unreasonably withheld.or unless .
<br /> •,�� excenuating circumstances exist which are beyond Bonower's control. Bonower shall not destroy, damage or impair the -;h;�:;
<br /> ''�t Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture r j�", :,. _
<br /> 'M1' action or proceeding,whether civil or criminal,is begun that in Lender's good faith judgmenc could result in forfeiture of the —
<br /> � Property or otherwise maeedally impair the lien created by�his Security Instrument or l.ender's secucity interest. Honower may ';�y;I.
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a culing �:��, ��a"
<br /> - - �- cha�, i►, I.ei�der's good faiih deteri^�nation, prcdudes farfeiture of the Bonower's interest in the Property or other material k.,;� �
<br /> � impairment of che llen created by this Security Instrument or Lender's secudry interest. Borrower shall also be in dcfauli if :,.
<br /> } Borrower,during tk�e loan application process,gave materially false or inaccurate information or statements to I.ender(or failed 4 :
<br /> • to provide Lender wlth any material information) in connection with tUe loan evidenced by the Note, including,but not limited �-
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<br /> t' to,represen ta tions concernin g Borrower's occupancy of the Property as a prtncipal residence. If this Secudty Instrument Is on a .r
<br /> f leasehold, Bonower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Properry, t h e ���
<br /> leaschold and the fee title shall not mcrge unless Lender agrecs to the merger in wrlting. ��=
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<br /> 7.Protectton of Lender's Rlghts in the Property.If Bonower fails to perform the covenants and agreements contained in
<br /> �• tliis Security [nstrument, or there is a legal proceeding that may significantly affect L.ender's rights in the Property (such as a
<br /> ' procceding in bankruptcy,probate, for condemnation or forfeiturc ar to enforce laws or regulations), then Lender may do and
<br /> pay for whatever is necessary co protect the value of the Property and Lcnder's rights In the Property. I.ender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> �. reasonablc attorne s'fees and cntering on the Property to make repairs. Although Ixndcr may cake action under this paragraph �
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<br /> � • 7,L.ender does not have to do so.
<br /> Any amounts disbursed by l.ender under this pazagraph 7 shall become additional debt of Bonower secured by this
<br /> � Security lnstrument. Unless Borrnwer and Lender agree to other terms of paymenc, these amounts shall bear interest from the —
<br /> da�e of disbursement at the Note rate and shall be payable, wich interest, upon notice from l.ender to Bonower requesting
<br /> � payment. _ _ - -
<br /> � 8.Mortgage Insurance.If Lender required mortgage insuranee as a conditlon of making the loan secured by this Secarity - - —
<br /> � � Instrument, Bonower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the =
<br /> mortgage insurance coverage required by I.ender lapses or ceases to be in effect,Bonower shall pay the premiums required to ��
<br /> �� obtain coverage substantially equivalent[o the martgage insurance previously in effect,at a cost substantially equivalent to the ��
<br /> cost to Barrower of the mortgagc insurance previously in effect, from an altemate mortgage insurer approved by Lender.If ;r .,., ,,,
<br /> '� substantially equivalent mongage insurance coverage is not available,Borcower shall pay to Lender each month a sum equal to ' M ,; _F�k
<br /> one-twelfth of the yearly mortgase insurance premium being paid by Borrower when che insurance coverage lapsed or ceased to
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<br /> be in effect.Lendet will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �_:.�.;
<br /> Form 3028 9190 "�'•��
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