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<br /> ' � � �' 97-- 10260� �.
<br /> 5. Hnxard or Property Insurance. �orro�vcr �hi�ll kcep thc imprcrvcments nuw existing on c�rcuftcr crected on Uic �-
<br /> . •,� Propeny insurcd ubninst loss by firc, h�uurds includcd within thc tcrm "cxtended cuvcrage" nnJ uny othcr hazardti, including �`_
<br /> flooJti�ir tlunding, fcn•which l.cndcr rcyuires insurunca This intiur.incc rliall bc maintnincd in thc un�ounts and fcir thc perit�ds �
<br /> thut L.cndcr rcyuires. Tltr insuruncc curricr providing �hc insurunce+huU Uc chuscu by l3a�eon�cr subjcct to Lcndcr's appruval �
<br /> . `�'` which shall ncit hc unrcusonably withheld. (f Horrower fails to iti�aintuin covcrage described above, L.ender muy, ut Lender's _
<br /> "� option,nbtuin roveragc to pratect Lc:ndcr's rights in the Propeny in accordance with parugraph 7.
<br /> ��:
<br /> �, • All insurancc policics and renewuls shall be ucccptable to l..ender und shnll include a stanJard mortgage cl:�use. l.ender �:_
<br /> `�' shull huve the right to hold the policies and renewuls. If Lender reyuires,Borrower shall prompdy givc to i.�ndcr all reccipts of
<br /> ' �id remiums and renewal notirrs in the event of loss, Borrowcr shall give prompt notic�ro the insurance carrier und l.ender. ��
<br /> r� r ��`
<br /> � Lcndcr may makc proof of loss if nat made promptly by Honower. �.
<br /> � Unlcss Lcndc�and Borrower otherwisc agrce in writing, insurance procecds shull 6c:appliui to restoration or repair of the �-
<br /> Property damaged, if the restnrntion or repair ic economically feasible and Lender's security is not lessened. If the restoration or -
<br /> � rep�ir is not econ.�micu l ly feasi b le or L e n d e r's s e c u r i t y would be lessened, the insurance proceeds shaJl be applied to thr,sums _
<br /> �----� -- - secured by this Secur�ty ►nslrument, wiicthcr u� �iot th�n duc. «�ith anp cxcess paid to Bt�r:•nwer. I( Borrower abandon� che _
<br /> '' • ._.� Propeny, or docs not answer within 3U days a notice fram L.ender that the insurance carrier has offered to settle a claim, then �_
<br /> L.ender may collect the inwrnnce proceeds. Lender may use the praceeds to repair or restore the Property or to puy sums
<br /> � secured by this Security Instrument.whether or not then due.The 30-day period will begin when the notice is givcn. �
<br /> ;°-;;�.'��;,' ; Unless i.ender and Borro�ver othenvise agree in writin�, any applicatian of proceeds to principal shall not extend or =_
<br /> '��'�:';;�� �' postpone the due date of d�e mvntlily payments referred to in paragraphs 1 and 2 or change thc amaunt of the payments. If •
<br /> :':"�`�%k�"!�. undsr pacagraph 21 the Property is acquireci by Lender. Borrower's right to any insuranee policies and proceeds resulting from ��
<br /> ` ' 'fi dumage to the Propeny prior to the acquisition shall pass to Lender to the extent�f the sums secured by this Ser.uriry Instrument v.^,
<br /> > ��;.;�`trr, . immediutely prior to the ncquisition.
<br /> <-,�,.,.;; 6.Occupancy,Preservatl�n,1�aintenance und Protection of the Property; Borrower's Loan Application;Leaseholds. _.
<br /> � � Burrower shall occupy, establish,and use the Property as Borrower's principal residence within sixty days after the execution of -
<br />'='�'^"' ��'�~ this Seturiry Insteument and shall continue to occupy the Property as Borrowei s principal residence for at least one year after _
<br /> - ��� � ': the date of accupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless =
<br />'-����•' 'y extenuatina circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impzir the
<br /> `r,??:�°r�:'.� Propeny, allow the Prope��ty to deteriorate, or commit �vuste on the Property. Borro�ver shal! be in defauic ir an,y iorieiwre =
<br />�` �`"•��«�� action or proceeding, whether ci��il or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
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<br /> = �,�;�� , Propeny or otherwise materially impair the lien created by[his Security instrument or I.ender's,ecurity mterest. orrawer may
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<br /> ___�;•�t;y;_, cure such a default and reinstate,as provided in paragraph 18, by cnutiing the action or proceeding to be dismissed with n ruling
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<br /> --x;�.* . thut, in Lender's good faith detertnination, precludes for(eiture of the Borrower's interest in the Property or other material
<br /> ...«..• .
<br /> s�^-::,�..� '; impuirment of the lien created by this Securiry Instrument or Lender's security interest. Bocrower shall also be in defnult if
<br /> -'-'='�`�' �� Borrower,during the loan application process,gave msterially false or inaccurate intbrmution or statements to L.ender{or failed
<br /> ..:.�..-;i1.wL1 _
<br /> i� to provide Lender with any material information)in connection with the loan evidenced by the Note, including, but not limited
<br /> -.� .>;,:�.� to,reprcsentatians concerning Bonower's occupancy of the Propeny as a principal residence. If this Security Instrument is on a
<br /> y=- leasehold, Barmwer shall comply with all the provisions of the tease. If Botrower acquires fce title to the Property. the
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<br /> --•.���:-�. IeaseNold and the fee title shall not merge unless Lender agrccs to thc merger in writing.
<br /> +�:����;�� 7.1Protectfon of Lender's RBghts in the Property. If Borrower fails to perform the covenants and agreements contnined in
<br /> ,�,_„�,x;�;�,� this Secuxity Instrument, or there is a legal proceeciing that mny significantly affect Lender's rights in the Property (such as a
<br /> -_------= proceeding in bankruptcy,probate, for condemnatian or furfeiture or ta enforce laws or regulations), then Lendor may do and
<br />�,;;:� pay for whatever is necessary to protect the value of the Property xnd Lender's rights in the Property. Lender's actions may
<br />__. ti include paying any� sums secured by a lien which has priority over this Securiry Instrument, appearing in coun, paying
<br /> _r:�`:!�L__ -- reasonable attorneys'fees and entering on thc Property to mnke repairs. Although Lender may take action under this pnragraph
<br /> ---- 7,L.ender does not have to do so.
<br /> •--= Any ainounts disbursed by Lender under this paragraph 7 shall become additional debt of Barro�ver secured by this
<br /> - �� �— Sccuriry Instrumemt. Unless Borrower and l,ender agree to other terms of payment, these amounts shull hear inteirst from the _
<br /> ""� ' date o(disburserctent at the IVote rate and shall be puyuble, with interest, upon notice from I.cnder to Borrower requesting
<br />=�-J--°-a.:.r»�
<br /> _-+''�!!"�, paymcnt.
<br /> ""'"""� S.Mort a e Insurnnce.If Lender r uircd mort a e ins�irunce as a condition of making the loan secured by this Security
<br />==wa�w.,,.. � b' 6' �I � S 8
<br /> "_:�-U�:�.• Instrument, Borrower shall pay the premiums required to maintuin the mortgage insurance in effect. If, for any reason, the
<br /> :.,•.—:'•-'.-r�.t
<br /> -_ : t:;, mortgage insurance coverage requirod by Lender laases or ceases to be in effect, Borrower shall pay the premiums required to _
<br /> --- - obtain coverage substatitially eyuivalent to the mortgage inst�rance pr�viously in effect, at a cost substantially eyuivalent to the �-
<br />-;,�':��-, .. cost to Borrowcr of the mortgagc insurance previously in effect, from an niternate mortgage insurcr approvcd by Lendcsr. If =
<br /> substanti:�lly equivulent mortgnge insurance covera�e is not avuiluble, Borrower shall pay to Le:nder each month a sum equul to _
<br /> - � ' � one-t�velfth of thc yearly mortgage insurance premium being paid by Borrower when the insurance coverage.lapsed or ceased to �-
<br />_� � � be in effect. L.ender will accept, use and retain these poyments as u loes reserve in lieu of mongnge insuranee. Loss reserve _
<br />_��' � --
<br /> - ' � ' Form 3028 9lSO
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