|
, . . . f
<br /> • . . ' . , ' ' , - � � � . ',- .. ' . '.k'
<br /> " � __'""_ �... _.. _ . .. . t- . _ .' "-_'_... .'._ .
<br /> . __. .. .__.. ..._._ _ ..._.. .. . �_".' .__ " - ."_"';""_. _
<br /> � � 97-� io��i3 � . . � ;��.�
<br /> 5.Ha�ard or i�oper�y'Qnsurance. Borrower shall keep the improvemeuu now exisring on c�rcafter crxted on the Property ` . � � .
<br /> in�ired against lass by t�,har�rds included within the tam "extended coverage" and any other t�azards.insluding floads or . . .
<br /> floodiag,for which Lender requires instuance.This insurance shall be maintained in the amounu an�for thc periods that I.e�der , , . , �
<br /> . ��..�Q�����providing the insurdnce shall be chosen by Barrowea subject to Lender's approval which shali nat • �ir
<br /> ` be iuueasonably withhetd. If Borrower fails to maintau► coveraSe descn'bed ab°ve, Lender may. at Lender's optian. obtain '
<br /> covetage to ptotect L.ender's rights in the Property in a�xordance with paragtaph 7. ` � �
<br /> pll insurance pa]icies and rencwals sball be asceptable to Lender and shall include a standard mongage clause.I.�nder shall
<br />— have the right to hotd ihe policies and rea�ewsls. if t.ender re�uims.Bosrower sh�ll prompdy�ive to Lender all rcteipts of paid � ,
<br /> .. premfums and renewal notices.In We svent of loss,Bozrower shali give proYnpt aouce to the insurance carrier and i.ender.[.ender f ,
<br /> � may make gtoof of loss if not made prompdy by BorroweJ. �����tion or repair of the ; "
<br /> Untess L,ender and Borrower otherwise agree in arriaag,insuiance pr�oceeds shrill be app• , .
<br /> .. proPe�ty damaged,if the restoration or repair is economically fe�b3�and Leader's secauity is aot tessened.If[he cestorarion or � -
<br /> repair is not economically feasi'bls or I.ende.r's security vrouW be lessened,the insurdnce proceeds shall be applied to the sums ,.
<br /> ro Barrowea. If Borrowea abandans tbe E ':-': ;
<br /> sec�ued by tGis Secarity Inswment, whether or not ihea due, with any excess paid . .. .
<br /> � Property.ar does not answer within 30 days a norice from I.ender that the insurance cazrier 6as offered to seWe sums se,cured � .
<br /> Lemdea may collect the insurance praceeds.Lender may use the praceeds to repsur or restore the Progerty or w pay . , ..,:�-:
<br /> by this Sesuriry L�strwne�►t,wt►eth�or not thea due.The 30�day peiiod cvill be8in when the notice is given. . ;:,,,�«,�*-'
<br /> Unless I.euder and Botrower otherwise agree in wriling,anY ePPlication of praceeds w principal shall not eaccend or postpone x_;._ ._
<br /> the due dare af the monthlY paymcats refened w in paraSraPhs 1 and 2 or change the amount of 1he payments.If ur►der p�'agiaPh 4 ` . , _
<br /> - 21 the Propercy is acquired by i.eadex,Borrower's right to any insurance policies and procQeds resulring from damage w the . ` _ � • _;..:�
<br /> propercy prior to die accluisidon shall pasc tn I.�der tn the extent of the sums secured by this Sepuity Insuument immediatcly �`. `.;.F,�_
<br /> u'si '�±��
<br />, � priorwtheacquisiuon. ; � '. ,;,_.%.�.
<br /> i 6.Occap�ncy,PreservatIon,Maintenance and Protecbion of the 1'rope�ty; Borro�ver's Loan Applicat�on;Leaseboids. - '� `_ _
<br /> Boaowea shall occupY.establish,and nse the Froperty as Bonowea's principal residense within sucty daYs after the execurion of . ,. :,'
<br />° ,i this�c�iuity Instn�rnent and shall conrinue to occnpy the Propeaty as Borrower's princi�al residence far at least ons year afux the �..���
<br /> ��' date of oa�pancy. untess I.ender oth�wise agrees in airi t mg, w d i c h c o n s a�t s h a ll n a t b e u n r e a s o n a b l y w i t h h e l d, o r u n l e s s • `�
<br /> ex��uazing circumstances exist wluch a�re beyoad Borrower's control.Boirower shall not destroy,damage or impair the Property. f . .. �.',;..� �� :
<br /> allow the Property to detrriorate,or cominit waste on the Properly. Borrower shall be in default if any forfeiuu+e acdon ar � ' ;;
<br /> P�B,whethea civi!or criminal.is be�un tBat in Lender's good faitb,j�dgment could result in farfeiwre of the Property ar �._..;�, .,��, ..� .
<br /> othe�,s:materially impair ihe lien created by this Securiry Insuument or Lender's securiry intraest.Borrowar may cure such a , ,� . ;
<br /> defanS2�d reinstate.as provided B►paaagraph 18,by cansmg the action or proceedinB to be dismissed witb a nilm8 d�ai,m : '�-:�j'�:� � ' �.
<br /> 'o �ludes farfeiwre of the�u�cawea's intaest in the Progarty or other material impairment of '`�;R���w '� �- �°
<br /> _r' �.. .�:.
<br /> L.endea's good faith determinau n.� •,��`; .
<br /> the lien created by this Security L-as'��ent or L.ender's secauiry iaterest Boaower shall also be in default if Borrower,during the . :�..,.,;.. �`i .
<br /> ' n ave m^u'.�.aI1 �.�±� '
<br /> loan applicaCO pracz.s�;,8 y false or inaccurate infozmaunn o3 s�..'nants to I.ender(or failed to pmvide Lender with � • r, �
<br /> any mateiial informarion) m ce�on with tLe toan evidenced by t�e ^�,�.:, inctuding, but not limited tn. rePmsetttations ., ; �`�:.
<br /> mat i `7 ':,
<br /> conceming Bozrower's accupancy���he Pmpeaty as a prinapal re.rideACe.If this Secaairy Instrument is on a leasehold,Bomnwer ,
<br /> shall comply arith all the pmvisions of the tease.If Borrowea acqafres fee title w d►e Property,the leaset►old and the fee aile shall . • +:� �� �� �
<br /> no t m e r g e u n l e s s Y x m d e r a g r ce,g t o t h e m e a g e r u e�a�i�m g. : ~,- '�_S ,1
<br /> ....:�x�� . "" <i
<br /> '4 7.Protedton of Lender's Rtghts in the P�w�+. If Bamdwer faiLs tsa�aform the covenants and agreements contained in �,�. �
<br /> L � �
<br /> � this Secmity Instnument, or theae is a legal Praceed�n8 that�aY�8��'°3 affect Lender's rights in the Propeaty (such as a , �.. , ':�;_'�--
<br /> � pmceedin8 in banlwAicY,P�b�for condernnatlon or forf��.or to enfor�..e laws or re�utations),thea I.eada may do and pay ,, .,,: ;;�'�'j�.•:_
<br /> for whatever is necessary w prot�¢�e value of the Propersy�:,d I.endea's rights in the Prasperty.Lender's actions r•��include . . .�:;,:..:;�----,:•
<br /> PaY�B �Y�s seGUed by a 1-� wbich has priority over tius Sec�J Inswment,aPPearing in cowt,PaYing r�sor�able ; �Z'?fai':'� . -
<br /> :��;rtit';.�FL.
<br /> � aitomeys' fee3 and enteaing on the�raperty ta�Walce repairs.Althoagh L.��r may take action under this paragrapt�7,Lender ,
<br /> t " a•;,-
<br /> does noi have to 8o so. + � „ ��
<br /> ..5.'_":...
<br /> Any amounts disbursed by 1.��er under this paragmph 7 shaU become addidonal debt of Borrower sec•.ured by this Socurity ,•.%.:. •, ��r.::
<br /> , ����'«�' �:� .�. .
<br /> Instnunent Unl�s Bomower and Lender agree to other tenns of payment,these amonnts shall bear�teaest from �e date of `,���..��.�: _�J�
<br /> �.:� �� ,:#l,. t�Se�x',..�.
<br /> disbucsemeat ai the Note rate and shall be payable,with interest,upon notice from Lendea tn Borrower requesting pay�w s. • ;!jt;4 : .=��K
<br /> � S.Mortgage Insurance. If Lendea required moitgage ins�rance as a condidon of making the loan secwed by�`�.is Security .
<br /> � Insuument,Borrower shall pay the premiums reqnired ro maintain the mortgage ins�uance in effesc. 3f, for any reason, the . .. ,,� ._
<br /> � mor�-age insarance coverage required by L.ender lapses or ceases w be in effect,Borrowes shall pay the pcemiivas requimd to �� : . .:
<br /> • obi�s covctage substan ti a lly eq��^lent w t he mo r t g age i n s�n c e p r e v i o u s l y i n e f f e c t,s:�c o s t s u b s t a n t i a ll y e q u i v.a]e n t t o t h e ;,i i'y': , ,
<br /> cost to Bomower of the mo�:�surance previously in effect, ftom an aloemate m�ix.��ge insurer approved by Lender.If ."^`�i.'.. •: �'o�:+'
<br /> substat�tially equivalent mortgage��znce covcrage is not availabIc.Barrower shall pay tD Lender each month a sum equal to
<br /> on�twelfth of the yearly mortgage i.s�����nium being paid by Borrower when the insurance cove�age lapsed or ceased w ; ,
<br /> .- .t•
<br /> be in effect.Lender will accep�4s: and reta:a these payments as a loss reserve in lieu of mortgage insurance.Loss reserve •
<br /> � . Form SQ�B_9�90, � " �
<br /> . s mniaia:ll{��`�� .
<br />. k �-BR(NE)(s2�2).0� aey�o+e �f�� _
<br /> , �,� ,s _
<br /> � �, .
<br /> ��� S z.
<br /> .-.=r...__-..�.._--_..,. ....., _-_�_ . __ .
<br /> ... .-.......��. . .
<br /> _.
<br /> "'
<br /> _..._... - -. . .
<br /> �� ----_ . -:--� ._ ... ...-_.... .. ._-._' . . � . � . � � ' .-- � ,.� . • �.
<br /> . • . ' ' ' . , . f _ .
<br /> . ' ' � • �—.
<br /> • �, • . .}-• .: . .. .. . . . . .. . ., ' ' .. . � ;'' . . ' .
<br /> a� ' . . . . . .- . . � , . ' � , � - - . , ' - � � • '` , , .
<br /> . . �.� . .. - . - � . - .. . . . -- ._ . . ._ _ . .... _ i. . . - .
<br />
|