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<br />�� .I J'?-� 1U�'704
<br /> � ' S. Hnu►rd ��r f'roperty Insuruncc,Borrawcr sh+ill kec:p thc improvcmcnts no�v cxis�.ing an c�renftcr crcctcd on �hc �
<br /> Propeny insurcd against loss by firc, h:.xards incF.udcd withi�i thc tcrm "extcndcd covcragc" :u�d any othcr hacards, inclttding ,
<br /> flaods or floociin�, for�vhich Lender requires insurance. This insurvice shall bc muintaincd ire iha amuunts and for thc periods �
<br /> � that Lender requires. The insur�nce carrier provi�ling thc insuranee shall bc cfioscn by Buriower subjcct to Lender's apprmal
<br /> . whlch shall not be unreasonably withhcld.If Ba�7ower fails to maintain covcrage descritx:d aDovc, Lender may, at lAnder's
<br /> �� option,obtain coverase[o protect I..ender's ri�hts m[he Fca�crty in accordvuc with paragrnph 7.
<br /> � AU insurance policies �u►d renewals shall b�e acceptabtv to l.ender mid shaU inelude A standard mungage ciause. L.ender
<br /> . � sh�ll have��an�rc ewal�not cesc ln[hc cvent af loss,Borrowe 9 h�ll�gev prompthnot ce to�thc nsurance car ierlandcLendcrf
<br /> pa�d premi ,
<br /> Lender may make proof af loss if not made promptly by B4:�ov�er. -
<br /> Unl�.ss[.ender and Bonower otherwise agree in writnnB, insurance proceeds shall be applied to resturation or repair of the . >; `�',`
<br /> Properry dzmaged,if the restoration or repair is�conomir.nlly feasible and Lender's securiry is no� lesseiied. If the restoration or j;' _
<br /> repair is not economically feasible or Lender's security wauld be lessened, the insurancc praceeds shall be applied to the sums .'R'.'�.,���_
<br /> secured by this Security Instrument, whether nr not then due, with any exc,ess paid to Bonower. If Borrower abandons the �=._,�
<br /> � propeiry, or does not answer within 30 days a natice fraen Lender that the insurance carrier has offere�to settle a claim. then ,�:v�_
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<br /> '�: Lender u�ay collect thc insurance proc�eds. I.snder mav use tke proceeds to repair or reston the Property or to pay sums ..,-�T:__
<br /> ,'`,�' secw�eci by this Security Instiumeat,whether or not then dur,. 'Tlie 30-day pedod wiU begin when[he noti�is given. .,,�``.,.
<br /> 1�= ��:
<br /> � Unless Lender and Borrower othenvise agree in writir_g, a�y application af proceeds to principal shall not extend or
<br /> postpone the due date of the nionthly paymenis refened to in paragraphs 1 and 2 ar change the amount of the payments. If ° "`�^'�;;
<br /> , . under parngraph 21 the Properry is acquired by�.ender, Bormwer's rig�t to nny insurance policies and proce�ds resulting ham __:��
<br /> daniag�to[he Property prior to the acquisition shall pass to 1l�ender to the extent of the sums secured by this Security Iastrument ����;�.��.
<br /> �:. ,a,.:�'-=
<br /> � immediately prior to the acquisi[ion. rt,-;_,°� .
<br /> 6.Occupancy,Preservatton,Mainteaanoe t�nd ProEa�c�lon of the Property;&►rrov;er's Loan Application;Leaseha�ds• ;�;5„�
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<br /> Bonower shall occupy,establish,and use the Paaperty as Horrower's prinsa�►al residence within sixty days after the execution of ___ _
<br /> . this�ecuriry Instnunent and shall continue to occupy thr.PropertY as Borro•�ver's principal residence for at least une year after _
<br /> the dare of occupancy,unless I.eader otlierwise agrecs in writing, which c�nsent shall not be unreasonably withheld,or unless
<br />-.:,;ti�,;_ �A«������g z}�u��� ��;ar wrich are fieyond B9:ro��-�r.'s cantrol. Rorrower sha�l not destroy. damage or impair the
<br /> ;,4i�� praperty, ullow the Propeny to detedorate:., o.r commic wasz�on tha Property. Borrower shall be in defaui[ if any ioneiiure __
<br /> '•� •� . aetion or proceeciing, whether civil or crirt►inal. is begun ihat in LEnder's good faith judgment could result in forfeiture of the
<br /> . . Properry or otherwise materially impair thc lien created by this Security lastrument or Leader's securlty interest.Borrower may
<br /> ��`;�5:, cure such a default aad reinstate,as providecl in paraIIrr�h 1i3,by causing the action or proceedin�to be dismissed with a ruling :_
<br /> ` :'i�� tbat, in I..ender's good faith decermination, precludea fo;F�acure of the Borrower's interest in the Propeny or other material �;=,.:
<br /> impairment of the lien crcated by this Secuary lnstnv�artne �r Lender's security tnterest. Boaower shall also be in default If i,_:_
<br /> " Borrower.during the loan applicatlon Furocess,gave m�ter�ally false or inaccurate information or statemeats to Lcnder(or falled
<br /> i�r
<br /> d� to provide Lender with any material infarmutian)in c,�nr.ection with the loan evidenced by the Note, including,but not limited �4.
<br /> to,aepresentations wncerning Bo�rowti:r's occupancy of tl�:Property as a principal residence. If this Security Instrument is oa a
<br /> � >'�' leasehold, Borrower shall comply witl�all the papvisions of the Icase. If Sonrower acquires fee title to the Property, the ��� -
<br />-=���� '• leaschold and the fee title shall not mcrge unless L:nder agrees to the merger in writing.
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<br />' � ' � 7.Protectton of I.ender's R6g!!ts in the P�opxrty.If Borrower fails to perform th�covenants and agrcements contained in ���
<br /> ,r.Yt� .
<br /> this Security Instnunent. or there is a Icgal proceeding that may significantly affect Lender's dghts in the An:perty(such as a C'_.-
<br /> , proceeding ia bankrupccy,probate. for condem.natier�+.or forfeiture or to enforce laws or regulations). then I.e�nder may do and �s
<br /> -" pay for whatever is necessary to�Srotoct ttie vulue of the Paoperty and Lender's rights in t he P roperty. L en d e r's a c d ons ma y ;;�".=--
<br /> ' . � � inc7ade paying any sums secumd by a lien which ha, prioriry over t his S e curi ry I n s t r u m c n t, a p p e a r i n g in coun. Pa Y�B �'1':�: ��
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<br /> �`- : reasoaable attomeys' fees and ente.rins on Qhe Properq�to malce repairs.Although Lender may take action under this paragrapb _ _`
<br /> � `� �;���. 7,Lender does not have to do so. r`
<br /> - .. Any amounts disbursed by Lcnder under this paragraph 7 shall be�ome additioaal debt of Bonower secured by thia �_r•;:
<br />��:��,y"'°:: Secwiry Instn►ment. Unless�rsower and I.ender ngree co other tenns of payment, t hxse arnoun[s s h a l l b e a r i n t e r e s t f r o m the :�r;
<br />_:���q:° date of disbursement at the Note rate and shnll be payabl�, with interest. upon notice from Lender to Borrower requesdng _ _ —
<br />,�.,�' , : payment. r
<br /> B.Nlortgage Insurancc. If Lendcr requic�od mongage insurance as a condition of making the loan secured by this Securirij �r-•_-� .__
<br /> .. Instrument, Borrower shall pay the premiu►ns ra�uind to maintain the mortgage insurance in effect. If. for any reason, the " ={_��—="-
<br /> mflr�gage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the pcemiums tequired to �Y;�;r�. ;
<br /> ';. o'btnin coverage substantially equivnlent ta the nwrtgage insz�rance previously in effect,at a cost substantially eqaiv�lent to the �T�s.
<br /> '�.:;:,r_:
<br /> � cost to Borrower of the mortga�e in:.urnnce pr.eviously in effect. from an alternate mongAge insurer approved by Lendcr. If . :
<br /> .�i substantially equivalent mortga3e insurance co�erage is not available, Borrower shall pay to Lender�ach month a sum equal to
<br /> one-twelfth of the yearly mort�age insurance�rzxmium being paid by Sorrower�vhen the insurance coverage lapsed or ceased to ..
<br /> be in effect.Lender will accept,uss und retain these payments as a loss reserve in lieu of mortgage insurance. l.osa reserve ;
<br /> � Form 3028 0
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