|
..._ _.. . _ _ ..'_ . ,— .' ' ` - - " � .. . . . � . -F `i`' .�..` . . �-
<br />' � - < < . � r . .. - . . ' . ;' � . ' .
<br /> .. � . . � . ` - . ` � ' . . ' ' . . , , � e .' .- • -. �_.�
<br /> . ' .�. . � � . . . . • -. . . . . .__. . . .. ... . _ ._�y._.. .. c , � . � ' .
<br /> ..i^. ._- - .. ...-------. y.�.�
<br /> ( s�— �o�� �� .. �� � . ���
<br /> � � � � � � . -
<br /> � wuhheld.If Borrower fails to maintain coverage descn�ed above.Leader may,at l.eadei s opaon, obtain coverage to pmtect Lender's �
<br /> .i ri�hcs in the Property in accordance with paragrdph 7. � . . .
<br /> p�in�ance pokcies and ren�wals shall be acceptable to L.ender and shall iaclude a standard mortgage clause.L.ender shaU have �
<br /> # the right to hold the policies and renewals.If Lender requires.Borcower shall pmmpdy give to Lcnder all receipu ot paid p[iemiums and �. . • . ' , ,
<br /> renewal notices.In the event of loss.Borrower shall give prompt notice to the insucauce carrier and I.ender.I.ender may make proof of �
<br /> �, a
<br />= loss if not made prnmpdy by Borrower. --- --
<br /> Unless L.ender and Boaower otherwise agree in writing.in�uance Proceeds shall be applied to iestontion or repair of the � _ .
<br /> propCrty damaged, if the restoration or t+epair is economically feasible and L.ender's security is not lessened.If the restoration or repair � , -.,�__
<br /> ' is not econnmically feasble or Lender's security woutd be lessened,the insurance proceeds sha11 be applied to the sums secumd by this ; _ ._
<br /> gecurity Insttume�, whether or not then due,with any excess paid to Borrower.[f Borrower abandons the Praperty.or does not answer f ,���'.
<br /> • wuhin 30 days a notice from Lender tl�at the insutance carrier has offered to seale a cla�►.then L.ender may collecc the insurance proceeds. p " ,:;.�--
<br /> Ixnder may use the proceeds to npair or rescore the Proper[y or to pay snms secured by chis 5ecurity Instmmera. whether or not then i . . . .
<br /> dne.The 30-day period w71 begin when thc nodce is given. � , �="'-���---
<br /> � Unless I.ender and Bonower otherwise agcee in wtiiing.any application of pcoceeds to principal shall noi extend or postpone .a„�
<br /> es
<br /> • the due date of the monthly paymcnts referred w in paragraplls 1 and 2 or change the amou� of the paymenss. [f und$r paragraph 21 ='.'•=-3=�:-�:;.-.
<br /> ' 'hR�_
<br /> : the propeity is acquued by l.eader.Borrower's right to any insurance policies aad proceeds nesulung from damage to the ProPenY Paor � ����
<br /> . w the acquisirion shall pass to Lender w the e�uent of thc s�s secured by this Security Instrumeni immediately prior to the acquisition_ � -_—- -
<br /> 6. Occapancy,Ya�eservatIon,Maintenance and Protect2on of the Prrope�tyt Borrower's Loan e�ppltcabton:l.ease6olds. ::1����
<br /> Borrower shall occupy.establish.and use the Property as Borrower's principal residence withia sixtYdays after the execurion of this Securiry . �r�¢
<br /> Insur�ent and shall continue to occupY the Ptuperty as Borrower's principal residence for at leasi one year a ft er t he d a t e of occupancy. ' . - 3�_
<br /> gur�t
<br /> nnless Lenster otherwise agrees ina+riting,whichcoasent shaU not be unreasonably�vithheld.or unless euenoating circuQattances e�dstahicla . ,�
<br /> -- are beyond Boaower's co�rol.Borrawer shall not d�eoy.damage or mipair the Property.allow the Property w dateriorate. ar commit __ ._�_=� '
<br /> ; waste on the Properiy. Borrower shall be in defauh if a^y forfeiture action or proceeding,whether civil or cr�inal.is beSon that in
<br /> ` Lender's good faith judgment could resuit in forfeiture of tYce Property or othetwise materially impair the fien created by tbis Security ~:���
<br /> ' ` Instrvnteni er Lender's seeurity interesc.Borrower may cure such a default and reinstate.as provided in patagcaPh 18,by causing the acaon � _:"�°�'
<br />" � or proceeding to be dismissed with a niling ttiat,in Lender's good faith determination. precludes forfe-:�re of the Borrower's interest ia . " '•��-;.'
<br /> -' the Property or other material impairment of the fien created by thi9 Securiry Insuument or[.ender's securay inrEresc.Borrawer shall also =- -- -
<br /> .v ; be ia default if Boaawer.during the loan application proces.s.gave matetially faLge or inaccurau infomiarion or stateme�s to Lender(or . � .
<br /> ���"; failed to provide Lender with any material infocmation) in connection with the loan evideneed by the Note,inetuding.but not limited to. , . ,
<br /> : rcpi+esemaaons concerning Borrower's occ�ancy oP the Propesty as a principal reaidcuce•If this Sec�uiry lnsaament is on a leasehdd, (',�� '•
<br /> garrawer shaU compiy with all the provisionv of the lease.If Borrower acquires fee atle eo the Prope>[y.the leasehold and the fee title �•t� '
<br /> "' shall not merge untess Lender agnPees to t�s merger ia wruffig. � ,-. t-. .
<br /> s
<br />- 7, P['OteCdon oi Lendet's Ri�Ls tD the Property. If Borrower fails w petform the covenants and agreements comai�ed in .��; `
<br /> this Security[nstrument. or then is a legal proceediag thai may significantty affeci Lender's ri3hts in the Properiy(such as a proceeding . �•_ � .
<br /> in banlm�ptcy.probate. for condemaation or forfeiture or to enforce laws or regtilations), then Lender may do and pay for wbatever is ' ' `� ,r:
<br /> necessary to pmtect the vatue of the Propeity and Lender's rigl►ts in[hc Property.Len�..'r's actions may inctudc paying any sums secumd ;��� `St :
<br />• by a lien whichhas priority over this Securiry Iavuument, appearing in comt,PaYinB reasonable attorueys'fees and emtering on the Prap�ty �-
<br /> to make repairs.Although Lender may take aaion nnder thig paragraph 7.Lender does not have to do so. --�.�� ,. �+ u �
<br />. . Any amaunts disbnrsed by Lender under this paragraph 7 sLall 6ecome add'uional debt of Borrower secured by this Security _y; _�_
<br /> instru�e�. Unless Boirmver and l.ender agtee to other terms of payment.tteese amo�mts shall bear interesc from the date�f disbutsemeni �•
<br /> at the Note sate and shall be payable.with interest.upon notice f rom L e n der e o B o r r o w e r i e q u e s H n S Pa N��• ..�.� ���~�
<br /> . 8. Mortpge Insurance. It Lender requiied moagage insurance as a condition of making the loaa secured by this Securiry •'� �'
<br /> ,�_
<br /> Insuume�. Borrower shall pay ehe premiums required to maintain the mortgage insurance in effecc.IP,for any reason,the mongage ��`;���--
<br /> insurance coverage mqulred by Leader��ses or ccase9 to be in effect,Boaower sLall pay the pmminma mquired to obtain coverage ��;�°'
<br /> substa�iaIIy equivalent w the moagage msutance previausly in effect.at a cost substantially equivale�w the cost to Boaower of the �_-_
<br /> '.; mottgage insvrance previauvly in effeci,from an alternce mortgage iasurer approved by Lender.If substantially equivalent mortgage .� �' �
<br /> e . :���:�
<br />' . i„�+�+An��verage is not available,Boaawer shallpay to Lender each month a sum equal to onertwellih oYthe yearlymongage insurencc C,+�s:•�;e,�__
<br /> .`i p�mium being paid by Bonower when the insutance coverage lapsed or ceased to 6e in effed.I.ender w�laccept,use and retain these �..;,._.
<br /> . } payments as a loss tese:ve in lieu of mor�,�age insurance.Loss resen•e payments may no 2onger be required,at the opHon of Lender.if , •_�,� �
<br /> • E mortgage insutaace covera ge(in the ams�c and for the period that Lender requires)provided by an insuser approved by l.ender again <:?F:��=
<br /> � becomes available and is obta9ned. Boaower shaU pay the premiums required to maintain mottgage insniance in eflect,or to pravide a , �_•-���'�._
<br /> � loss reserve.uncil the requirement for mortgage insurance ends in accordance with any written agreemert becween Boaower and l.ender �` �7�_""
<br /> - or applicable law. `"���_;:i,�"...;'$'•'�
<br /> .,.�.. ��.,•
<br /> 9. IbSpeCtloa. L.ender or it�agent may make reasonable entrIes upon aad inspections of the Property. L.ender shail give .. -�� ter K .
<br /> Boaawer notice at the time of or prior ra an inspection specifying reasonable cause for the inspe�on. ";+�����^'�"t1•
<br /> �.:.Fa.�i i;?4'.ia>�XT�'�
<br /> !0. CondemnAtioa. The proceedv of any award or claim for damages, direct or consequeutial. in conaection with any
<br /> condemnadon or other taking of any part of the Propesty.or for conveyance in lieu of condemnation, are hereby assigned and shall be -• ,
<br /> paid to Lendct. .
<br /> Ia the event of a total taking of the Propeay,the proceeds shall be applled to ehe s�s secured by this Secwity Instca:�ent. • •
<br /> whethcr ot not then due,with any excess paid to Boaower.In the eveat of a panial taking of the Propctty In which the fair market vatue � _
<br /> Faim 3028 9l90 . . •
<br /> (page 3 of 6) ' � ' ' �
<br /> IDS.Tnc. Rorrower'a Initials � . . i
<br /> ' ----____.. . ...-�---�-: .�_..... .. .. _._ - •- -- • ---- _.. _._.-._ _.... • , .
<br /> . � . . . . � :� - � ' • . .
<br /> - — . . . . • . • --,--�-•-r- -- �_ ._...-,�,�c---- . _
<br /> ,. .� - .,._ . � -_� ._ ,::�-�'. ,_. . T .� _ _ .. - -- -� .
<br /> . � _ . , . . � , , • . . - � --- �,-„•
<br /> .. . �_' ,_ . � . ; �.,�.. . .. � . . .. . ._ - :. ^ � , �. , �. . .. � . . , ' . . ;� '•,.. . .. -,
<br />
|