|
. .7< . Y,j �
<br /> � ��.,-*��°
<br /> ;,:. ,,,;.
<br /> ':�. , � . „
<br /> , ;; ,,.
<br /> i . • `_;:i. "
<br /> :,;, . r ..
<br /> '��. • .
<br /> r
<br /> � ; �
<br /> � . 9$- �lGi'z36 �
<br /> � 1 5. Hau►rd or Pruperty Insurance. Borrower shall kccp thc improvrmcmti now rxic�in�; ��n c�rraftcr crrctcd un thc I'
<br /> 1 Property insured against loss by fire,ha•r.ards included within the tern► "extended covernge" and any uthcn c�u�ird`, including
<br /> floods or flooding, for which Lender requires inwrancc. This insurancc shall bc n�aintuined in thc amounts;uid ti�r�hc periudw , __
<br /> that Lender requires. The insurance carrier providing the insurance shaU be chosen by Sarruwer cuhject to l.�nder'�:fippr�wal
<br /> � which shall not be unreasonably withheld. If Barower fails to maintain covera;e descri6ed above. I.endcr nu�y, at lander'S _
<br /> i option,obtain coverage to protect L.ender's righu in the Property in accordanee with puragraph 7. �' : _
<br /> All insurance policies and renewals shall be acceptaUle to Lender and shall include a stlndard monga�e clause. l.ender '�'�� -' _
<br /> l shall have the dght to hold[he policies and renewals. If l.cnder requires, Borrowcr shail promptly givc to Lendcr all reccipts of �''�`�"-�'F'�`v�
<br /> :T��
<br /> � paid prerniums and renewal notices. In the event of loss, Borrower shall give prampt noUce to the insur,�ncc carrier�md l.ender. , n""
<br /> l.ender may make proof of loss if not made promptly by Bonower.
<br /> � Unless Lender and Borrower othenvise agrec in writing, insurance proceeds shall be applied to restoration nr repnir of the •
<br /> � Propeny damaged.if the rescoracion or repair is economically feasible and I.ender's security is not icssened.If the regtaration or ;.�''-.—�
<br /> repair is not economically feasible or L,ender's security would be lessened,the insurance proceeds shnll be:►pplied to the sums
<br /> I secured by this Security Instrument, whether a not then due, wich any excess paid to Burruwer. If Rottowcr ab:u�don� the l
<br /> �� Property,or does not answer within 30 days a notice from I.ender that thc insurancc carrier has offercd to settic a cl�im, thcn i _ r,y�
<br /> I.cnder rnay collect the insurance proceeds. Lender may use the proceeds to repair or restare the Propeny or eo pay sums
<br /> � secured by this Security Instrument,whether or►�t chen due.The 30-day period will besin when the notice is given 7}�.
<br /> Unless Ixnder and Borrower otherwise agree in writing, any appllcation of ptoceeds to principa! shall not extend or
<br /> postpone the dus date of die monthly payments referred co in paragraphs 1 and 2 or changc thc amount of thc paymcnts. If
<br /> under paragraph 21 the Propeny is acquircd by l.ender, Borrower's right to any insurance policies:u�d procreds resulting from _
<br /> ' �• damage ro the Property prior to the acquisition shall pass to Lender to the extent of thc sums securcd by this Security Instrument ,���°�
<br /> , imm e diate ly prior to t he acquisition. �:.Y ,
<br /> 6. Occupancy,Preservatton, Maintenance and Protection of the Property;Sorrower's Loan Appllcation;Lepseholds. � ��
<br /> � Borrower shall occupy,establish, and use the Propeny as Borrower's principal residence witi�in sixty days after the exc�cution of ����,�'fk '.!
<br /> this Seeuriry Instrument and shall continue co occupy t he Propeny as Bvicuwc� ���t nc i p a t r t�t�c n c e f a r a t l e a s t o t:e,e a r a fl c r C ��II
<br /> the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably wi�hheld, or unless :`�
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower �hall not destroy, damage or impair the h�*
<br /> Property,allow the Property to deteriorate, or commit waste on thc Propeny. Borrowcr shall be in dcfnult if any forfciture +^��'
<br /> �;;.-
<br /> action or proceeding,whether civil or criminal,is begun chat in I.ender's good faith judgment could result ia forfeiture of the �.
<br /> Property or otherwise matedally impair the lien created by this Security Instrument or Lender's securiry interest. I3orrower may ��,•:
<br /> cure such a default and reinstate,as provided in paragraph 18, by causing the action or procecding to be dismissed wlth a ruling �,
<br /> that, in I.ender's goad faith determination, precludes forfeiture of thc [3onower's intcrest in the Property or other n�aterial
<br /> impairment of the lien created by this Security Instrument or L.ender's securlty interest. Borcower shall also be in detault if ��. _
<br /> . Borrower,during the loan appiication process,gave materially faise or inaccurate information or statements to Lender(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 Bonower's occupancy of the Property as a principal residence.If thls Security Instrument is on a
<br /> leasehold, Bonower shall comply with all the provisions of the lease. lf Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shall not merge unless Lender agrees to thc mcrgcr in writing. �
<br /> � 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contnined in _
<br /> { this Security Instrament, or there is a legal proceeding that may significantly affect l.ender's rights in the Property (such as A ,
<br /> ; proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and +
<br /> �� pay for whatever is necessary co protect the value of the Properry and Lender's rights in the Propeny. Lender's actfons may
<br /> ' include paying any sums secured by a lien which has priority over this Securicy Instrumenc, appearing in cour[, paying
<br />- i rcusonable attorneys' fees and entering on the Propcny to makc repairs. Although I.ender may take action under this parngraph ::
<br /> � 7,Lender does not have to do so. ���°
<br />" � Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower securcd by thts ' �.'.�, .
<br /> i
<br /> , � Sccurity Instrument. Unless Borrower and I..ender agree to othcr terms of payment, these amounts shall beaz intcrest from the ��+�,.
<br /> datc of disbursemen[ at thc Note rate and shall be payable, with interest, upon notice from I.ender to Borrowcr reques[ing �" 1 '� .
<br /> i . .„ •'._...
<br /> ; payment. ' _
<br /> � S.Mortgage Insurance.If Lender requircd mortgage insurance as a condition of making the loan sccured by this Security ^' �•`""?''�'
<br /> '.i.T'�`...'�f�..�-.�
<br />' � Instrument. Borrowcr shall pay the prcmiums required to maintain thc mortgagc insurance in cffect. [f, for any reason, the - ..,���'
<br /> i
<br /> mortgage insurance covcrage rcquircd by Lcnder lapses or ccases to be in effect, Borrower shall pay the prcmiums rcyuired to .
<br />- obtain coverage subst�+ntially equivalent to the mortgage insurance previously in effect, at a cost substantiatly eyuivalent to the
<br />- ' cost to Borrower of the mortgage insurance previously in effect, from an altemate mongage insurer approved by l.ender. lf •
<br /> _ substantially equivalcnt mottgage insurance coverage is not avaitable, Borrower shall pay to Lender eacti month a sum equal to
<br /> " unc-twelRh af the yearly mongage insurancc premium being paid by Borrower whcn thc insur.-uicc covcragc laps��d or ceascd to
<br /> � � be in ef(ect. Ltnder will accept, use and retain ihese payments as a loss rescrve in lieu of mongagc in�ur-�nce. Lo�s rescrv�:
<br /> Form 3028 9190 �
<br /> �•6VINE1�e.'12101 Paqo�ol6 i�.���a�sl��������'^ ( - :--..-__--'.-.
<br /> � 1
<br /> :i
<br /> _� . _. _ .. _ .. -_
<br />
|