|
. , � � . . � . . � - , � ., s�v
<br /> . . . .t__
<br /> . , , • .:�_
<br />. .. ` � ` . . . , . . .. ` ' . - ' . . ' ' . . . � . . . �— - . . �t i_
<br /> � � .. . �
<br /> �, � . .—.
<br /> /� � . - . _�•
<br /> • w�ithheld.If Borrower fails to maintain covetage described above,Leader may.at Lender's opuon.ubtain co ev rage�o proT�er's . � . . � .` � �•
<br /> righu in the Property in aceordance with patagraPh 7. � • ` , �
<br /> - All insurance pulicies and renewals shall be acceptable to l.ender and shall inclLde a stattdard murtgage clause.L.eader shall have � � �
<br /> _ the right to hold the policies and nnewals.If C.ender reyuires.Borrower shaII promptly give to Leader all receipts of paid pn�niums and � • . .
<br /> _ nnewaf notices.In the event of loss.Borrower shall grve prompt nodce to the insurance carrier aad Ixnder.Lender may m�ke proof of { ' " � _
<br /> � loss if not made promptly by Borrower. � � ' _ .
<br /> UnIess Lender and Borrower o[herwise agree in writing.insurance proceeds shaU be appGed to restoration or npair of the i. .C
<br /> Property damaged, if the restorauan or repair is economically feasble and Lendefs securiry is not lessened.If the testorarion or repair � . • . '_
<br /> is not economically feasible or Le�er's security would be lessened.the insurance proceeds shall be applied to the sums secured by this � . � ., � .
<br /> Security instn�meat, whether ar not then due,with any excesspaid to Boaower. If Borrower abandoas the Property,or does not answer ' ' ' ..�:.,`,
<br /> within 30 days a notice from Lender that the iasurdnce carrier has offered to seale a claim,then Lender may collect the iasutance proceeds. � .
<br /> Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Insuvment, whether or not then , ,
<br /> I due. 1�te 30-day period will begin when the notice is given , .: :�;
<br /> .� Unless L.ender and Boaower otherwise agree in writing,any application of proceedv to principal shall not extend or postpone ' ''�
<br /> the due date of the mont}il ents iefetred to in +� hs 1 and 2 or c the amount of the a ents. If under ara h 21 �=�s-�•� —
<br /> y Y PaYm Pa►a€-<F 1�aa8� P 5'm P S�P . .
<br /> the Property is acquired by Lender.Borrowec's right to any msurance policies and proceeds resulting from clamage to the Property prior � •
<br /> to the acquisition shall pass w Lender to the exteni of the sums secured by this Security Inswment imsnediacely prior to the acquisition. ' � � : ��y�..t
<br /> 6. Uccupancy,Preservatton.Maintenance and Peotectioa of s8e Property;Borrower's Loan AppHcation.Leaseholds. , ' ��'�'�'_'_'�:
<br /> Borrower shall occupy.establish.aad use the Property as Borrower's principal resideuce within snRydays after the execuuon of this Security � , •� - '.��-3�.�
<br /> Iastrumeat and shall continue to occupy the Property as Borrower's principal residence for at least ons year after the date of occupancy. " . . " _:� �_
<br /> ' wiless Lender otherwise agrees in writing.wtuch consent shall not be nnseasonabty withheld,or tm2ess extenuating circumstances existwlrich �- �'=�
<br /> �' aze beyond Boaower's control.Borrower shaU not destroy,damage or�pair the Property,allow the Property to deteriotate, or commit • , ,�j��.
<br /> .,�_ wazte on the Property. Boaower shall be in default if any forfeitare action or proceeding,whether civil or cr�iffal,is 6egun tbat in � , ;� �(
<br /> Lender's good faith judgment could result in forfeiture of the Propatty or otherwise materially impair the lien created by thig Security • �"° --
<br /> ' I n s u u ment or L en der's s e c u r i t y in t�r e s t.Borrower ma y cure such a default and reinstate.as provided in p a r a g r a ph 18,b y cau9 i n g the actiou � '•�-'����i '
<br /> or proceeding to be dismissed with a ruliag that,in Lender's good faith detetmination. precludes forfeinae of the Borrower's i�eiest in � � •= ��� �.; !-.
<br /> the Property or other material impairmeat of the lien created by this Securityr Instrument or Lender's security interest.Borrower shall aLso . ;•��
<br /> be ia defaulc if Boaower,during the losn application process.gave materially false or inacmuate infocmadon or statementv to Lender(or �,. _�
<br /> failed to provide L.ender with auy matetial informauon) in connection wuh the loan evidenced by the Nou,iucluding,but not limited to. ;� - '���r"—
<br /> representations conceming Borrower's oceupaney of the Property as a pri�ipal iesidence.If this Seeurlty Incirument is on a leasehold, ,,_ �� � •
<br /> Borrower shall comply with all the provisions of the lease.If Borrower acquires fee title to the Property,ttte leasehold and the fee d[le � � � �' -
<br /> shall not merge unless I.ender agree.q to the mergar in writing. f , � � .:
<br /> : ��:��� �
<br /> 7. Protertlon oY I.ender's Righ15 in the Properiy. If Borrower fails to perform the covenants and agreesents contained in � ��: ,;F - ��
<br /> this Secuiity Ins[rument, ur there is a legal proceeding that may significantly affect l.ender's righ[s in the Property(such as a proceeding _ '`
<br /> ia banknipuy,probate, for condemnadon or forfe'v.u:e or to enforce laws or regulaaons). [hen Lender may do and pay for whatever is - •��l �. ' �'
<br /> neces to rotect the value of the Pro and Lender's ri ts in the Pco rt Lender's actioas ma i�lude a ' an sums secumd � �--. - -- �;�;�
<br /> �Y P P�Y 8h P� Y� Y P Y�8 Y �;-:--
<br /> by a lien wtuch has priority over this Security iactrument, appearing in caurt.paying reasoaable attorneys'fees and entering on ihe Property � ' � ' ���,
<br />. w make repaus.Although Lender may take action uttder this pazagraph 7,Lender daes not have to do so. f ���';t•'�=-
<br /> Any amounts disbursed by l.ender under this paragraph 7 s4aA become additional debt of Borrower secured bp this Security ! ' �����.%' ��r�
<br /> IaStniment. IJnless Borrower and Lender agtee to other terms of paymea[,these amouats shall bear interest from the date of disbuiseme� { ,- -,t� ���= •�
<br /> at the Note rate and shall be payable,with interest,upon notice from I,ender eo Borrower requesting payment. �'T �,-. _ --
<br /> 8. MOrtgage Ia�isnce. If Lender required mostgage insurance as a condition of making the loan secured by this Securiry / 'q�� --
<br /> Instniment. Botrower shall pay the premiums requ'ued eo maintain the mortgage ins�uance ia effect. If,for any reason,the mortgage f�T`�'` . � _
<br />.. insurance coverage tequired by l.ender lapses or ceases to be in effect,Borrower shall pay the ptemiums required to obtain coverage �"-=�✓' , �
<br /> substant{aUy equivalent to the morigage iasurance previouvly in etfect,at a cost substaa[ialty equivalent to the cost to Borrower of the - - "'
<br /> mortgage ins.uance previously in effect, from an altemate mortgage insurer approved by Lender. If substantialIy equivalent mortgage , �;. ,;;.�`�-�_
<br /> insurance coverage is not available,Boaower sLall pay to Lender each month a sum equal to on�twelflh of the yearlymortgage in4urance ' . �N
<br /> premiimm being paid by Boaawer when the insurance coverage laps.d or ceased to be in effect.I.ender willaccept,ase and retain these • - - ,
<br /> pa y menta as a loss reserve in lieu of mon g a ge insurance.L.oss reserve pa y ments ma y no lon ger be r e quired,at the o ption of Lender,if ,
<br /> . �•,,.
<br /> mortgage insurance coverage(in the amoum aud for the period tLa[ Lender requires)provided by an in�rer approved by L.ender again _ . �. _,�
<br /> becomes available and ic obtained. Horrower shaU pay the premiums tequimd co tnaintain mortgage insutance in effeci,or to provide a •
<br /> loss reserve,until the cequirement for mon�ge insurance ends in accordance with any written agreement between Boaower and Lender . � •
<br /> ar applicable law. . .
<br /> . 9. L�pe�tion. Lender or its agem may make reasonable enuies upon and inspections of the Properiy. Lender shaU give �• � . �
<br /> Borrower notice at tLe time of or prior to an inspection specifying reasonable cause for the inspcctlon. • ��
<br />� l0. COademnatlon. The proceeds of any award or claim for damages, diru:t or consequential, in connection with any ' � '" � �
<br /> rondemnadon or other taking of any part of the Property,or for conveyance in lieu of condemnadon, are hereby ass�gned and shall be . • —
<br /> paId to Lender. . . r�
<br /> !n the evem of a total taking of thc Property,the proceeds shall be applied to 1he s�av secured by this Secwiry insWment. . ' �
<br /> whether or not then due,with any excess paid to Borrower.In the event of a partial taking of[he Property in which the fair market value
<br /> � i'a=m 302E 9l90 ,. � _
<br /> (page 3 of 6) ,�^�
<br /> IDS,We. Borrowcr's InitiaLa � /� � �
<br /> � S. ' �_-
<br /> c-.
<br /> T.�._ ... ._., .. _ .. . .. ,._. ..: , _ . .. _ _ .
<br /> . . . . � .
<br /> • . . �-
<br /> ' � � . , �..
<br /> ' ' • . �' � �-
<br /> . . _ ...-- - .. �:��_.::
<br /> � . � � , � ' ��i.is
<br /> . • � , v� , � ` . -'_y
<br /> ��,
<br /> , . •' h.. . � .e . . .. ' ..�' ... . .. . - ' . _,� : , ' !'' ' ' i) . . . . .. , . • ,..
<br /> .. ' ; . � _.. � � .. - _ . . - . � �. . _ ' . � .. • . .. � � . .� .. ' ��'_. . .. . �. . . . � . ... - . ' ' . . ' � ' . . � ' .
<br />
|