|
• ,. '� " 5�::. - c:i, - . .
<br /> •y !� . . . , ' .. • f.�-' ._
<br /> .. - . ,-�..:�:�`, i ,„. .
<br /> _ .� . .. . .. " " .`���:.,, •� ,��-
<br />. .. . ,.n:� . . � . • ' . �-=--
<br /> . ` . _ - , .,�...�_. .
<br /> - ..�- e � -' . .5:..••;'. ;:-. • • . ., �, . . . '_ ...'•-'
<br />�; �,..Cs1`��.� .. .�i-', . .r�,.r�IN�:-��'Si....-r: . .. ' , � . ' � .,.:`�:'' ;'�,i.�i;-I„.-
<br /> � ; . . " I fl • .i .. - ,)`SMry�
<br /> �� �
<br /> •� �
<br /> :».r:wqdillit�r�r,����'t(�,.j�.' . .
<br /> - t �. . .. . '�� s ��/b.r�iu�y+�nY:n•�vx;�8'+���.�'e..A. .c . �..r.....y�..a.�..�er�4?+:'�i•�. 'A . . . ..`. ... ._ . _.. .. . :rl�'a41'n@i • ,
<br /> , ��
<br /> i'::.
<br /> S. Hau�rd or Property l�nce. Borcowur shall kcep thc impraveme�now cxisting or hereafter crected on thc ��'`
<br /> •� Property insurcd uguinst loss by firc, hurards included within the tcrm"extendcd coverage" and any other hnzards, including �:"'-
<br /> � floods or tloixiing,for which I.,ender requires insurunce. This insurar�cr shull be muintained in the amounts and for the periods(Q �-
<br /> L
<br /> • r,� thut [.enJer require+. Tlie in,uruncr currirr pruviding tlie intiw�ance ,hall be chusen by Burrower �ubj�ct tu I.�:nJcr'.;�pproval� .
<br /> .�� which shall not be unreusonably withheld. If Borrower fuils to n�aintain coveruge described ubove. L.ender may, at L.ender's �
<br /> option,obtuin coverage ta protect l.cnder's rights in the Property in Accorduncc with paragraph 7. N
<br />'`�1�° ;� All insurance policies und renewals shall be acceptable to I.ender and shall include a sta�idard mortgage clausc. Lend�
<br /> '• shnll huve the right to hold the policics and renewals. If I.cnder rec�uires.Borrower shall promptly give to Lender alI receipts
<br /> C piiid premiums and renewul notices. In the event of loss,Borrower shull give prompt notice to the insurs�nce carrier and Lende�
<br /> � ; I.�:nJcr muy makc proof of toss if not m:�Jc pro►nply by Borrower. --
<br />� . Unlcss Lendcr and Borrower otherwise agrcc in writing, insurance proccecis shull be applicd to restoration ar repair of theV
<br />_ ' Property dumnged.if the restorittion or repair is ecanomicully fesisible And Lender's security is not lessened. If the restoration or
<br /> �' repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be upplied to the sums
<br />` secured by this Security instrument, whether or not then due, with any excess paid to Borrower. If Borro�ver abandons the
<br />— Prap:ny, ar does n�t answer within 30 days a notice from L.�nder that the insurnnce carrier has offered to settle u claim, then
<br /> Lender may callect the insurunce praceeds. i.ender may use the proceeds to repair or restore the Property ar ta pay sums
<br /> secured by this Securiry Instniment, whether or nw then due. The 30-day period will be�;in when the notice is given. T
<br /> : Unless Lender and Borrower othenvise agree in writing, any applica[ion of proceeds to principal shaU not extend or _
<br /> � postpone the due date of thc monthly paymcnts referrcd to in paragraphs 1 und 2 or change the amount of the payments. If
<br /> . under paragraph 21 the Property is acquireci by L.ender, Borrower's right to uny insurunce policies und proceeds resulting from
<br /> ,, damage to the Property prior to the acyuisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br />- . , . immediutcly prior to the acquisition.
<br /> � 6.Occupancy,Preservation, Muintenance and Protection of thN Property;Borro�ver's I,oun Application;Lesse➢►olds.
<br /> � Borrower shaU occupy,estublish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> • , this Security ]nstrument and shnll continue ta occupy the Property as Borrower's principal residence for at lcast one year after
<br /> • ` , ' ttie date of occupancy,unless I.ender otherwisc agrees in w•riting, which consent shaU not be unreasonably withheld, or uuless
<br />- extenuating circumstanccs exist which are beyond Borrower's control. Bonowcr shall not destmy, damage or impalr the
<br />� . - Property, allow the Property to deteriorate. or commit wpste on thc Property. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> � - . Property or otherwise materially impair the lien created by this Security instrument or Lender's security interest. Borrower muy
<br />. " . cure such a default and reinstate,as provided in parugraph IS,by causing the action or proceeding to be dismissed with a ruling
<br />= . � that, in L.ender's good faith determination, precludes fnrfeiture of the Borrower's interest in the Property or other material
<br /> �". � impairment of the licn created by this Security Instrumcnt or L.ender's security interest. Bonawer shall ulso be in default if
<br />� �� • , Borrower,during the loan npplication p�ocess,save muteriully false or inaccurate infarmution or statements to I.ender(or failed
<br />� . to provide Lender with any material information)in connection with the loan evidenced by the Note,including, but not limited
<br />:��• � ►., to, representations concerning Borrower's occupancy of the Property a.s a principal residence. If this Security Instrument Is on a
<br />"'"• '• '''`� leasehold, BoROwer shull comply with uU the provisions of the lease. If Bonower acquires fee title to the Property, d�e
<br />- �,;,., `, • leasehold und the fee tide shall not mcrgc unless Lendcr agrccs to the merger in writing.
<br />;�'�'�•�� ' 7.Yrotect(un of Lendcr's Rights in thc Property.If Borrowcr fails to perform the covenants and agreements contained in
<br /> _. ` r , this Security Instrumcnt, or there is a legul procccding that may significantly affect Lender's rights in the Propeny (such as a
<br /> s�- - proceeding in bankruptcy, probute, for condemnation or farfeiture or ro enfarce laws or regulations),then L,ender may do and
<br />_ - pay for�vhatever is necessary to protect die vnlue of the Property and Lender's rights in the Property. Lender's nctions mAy
<br />° include puying uny sums secured by a lien which has priority over this Securiry Instrument, uppearing in caurt, paying
<br /> '� reasonablc attorncys' fecs and entcring on the Property to make rcpairs.Altliough Lender may take action under this paragraph
<br />:,,;, 7, Lcnder doc�not havc to do so.
<br />_ �• • Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br />� � � Sccuriry Instrument. Unless Bottowcr and Lcnder a�rcc to other tcrms of paymcnt, these amounts shall bear intcrest from the
<br />- date of disburscmcnt ut thc Note rate and shall b�: payable, with interest, upon noticc from [.cndcr to Borrowcr rcquesting
<br /> payment.
<br /> 8. Mortgege Insurnncc. If L.cnder rcquircd mortgagc insuiancc us a rondition of making the (oan secured by this Security
<br /> Instrument. Borrower shall pay du prrmiurns reyuired ta maintuin the mortgage insurance in effect. If, for uny reason, the --
<br /> mortgage insurance coverugc required by L,euder lapses or ceases to be in effect.Borrower shall pay the premiums rcyuired to �`'--
<br /> i obtain coverage substuntiully equivalent tu the monguge insur�nce previously in effect, ut a rost suNstantiully cquivalent to the ��
<br /> ± cost tc� Borrower of the mortgagc insurance prcvinusly in �ffecL from an alternate mortgage insurcr approvul by Lendcr. if :
<br /> substantially cyuivalcnt mnrtgsgc insurancc covcragc is nut avxilablc, Borrowcr shall puy tu Lcndcr cach month a sum cqual to
<br /> onc-hvelfth of thr yearly mongagc inxurancc prernium hcing p��id by Borrowcr when the insurancc r�werage laptied nr ceatied to
<br /> he in effect. Lender will arrept, use and ret.tin these payments as a loss reserv�in lieu uf mortguge insurunce. Lc�tis reserve
<br /> Form 3028 9/90
<br /> PnUo 3 uf G
<br /> 7J
<br /> _ ' ...-. ' � • ����
<br /> �. .. _.. . _. ._.-
<br /> ___ . . .___ . ._ _"_ ..
<br /> _. .. .__. .'_.__"_. __...
<br />
|