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<br /> �� 98"' 1053i1
<br /> S. Hwrd or Pmpecty In�ur�ace. &�nower chall kerp the impr�wenxnts �x►w existing or hereaflcr crectn! on �he
<br /> Pmpeny insurcd asainst loss by iire, ht��ard+ includeci wi�hin ihe �erm "extendat cu��cruge" n�xl uny other huutrds, including
<br /> floods or flooding, for whieh l.er�le�requlrcs insurance. This insurance shall t+e maintwiixd in the amounts and fur the peri�xl�
<br /> that L.ender requires. The insurnnce caniar providing the insuruix:c si�all be che�sen hy &�rruwe�� yubJect to Lenct�r's appm��al
<br /> which shall not be unteasons�bly a�ithheld. If Borcowrr trlls to mrintain coverage describe�i uMwe, I.ender muy, ut I.erKier's
<br /> optian,obtnin coverage to protect►.cnder's rights in the Pru��c�iy l�i ucco�dan.c with paraSraph 7•
<br /> All insurnnce policies uncf ronewals shall bc nccepYahla to I.cnder and shull include a standard mortgage clause. Lendor
<br /> shnll ha��c the d�ht to hold the polic.ies aixi rcnewAls. If L.ender requfres,Borruwcr shall promptly give to I.endGr ull recei�ts of
<br /> paid premiums ancl rcnewal notices. In tho event of loss. 8orrowcr shall give prompt notico to the insuraixe carrier und I.ender.
<br /> L.ender mey mekc pmof of loss if nat nwdc pmmptly by Borrower.
<br /> Unless I.cndcr and 8arrowcr athcrwise Ag�cc in writing,insurancc pmcerds shall fx applicd.t:o r�s�rAration or repalr af the
<br /> A,rc�x�ty damagod,if the restoratiun or repair is eeonamieally feasible and i.ender's sc�yrrity is n,ci+;I.essti�ai. If the restatution or
<br /> repae�is cat ecax►micully feasible or I.ender's securiry would be lessened. the incuru�e pr.uooais shall be applied to thc sums
<br /> securod by U�is Security lnstrument, whtr�+�er. or not then duc, with uny excess paid to�orrow�;. �f Borrower abandon9 th,c
<br /> Propeny,or daes aot answer within 30 uays a c�otfce from I+cndcr that the insurance earcior te:rs afferesi to s�!!�a elaim,then
<br /> l.onder nw� collect the insurnnce proceods. l.e�xler may use the prucoeds to repair or restore e[tie i'ropeny or tv puy sums
<br /> se�,�urod by�I�is Se�:urity Iust�uu�ent. wl�eiher ur not it�n,du:. 7'ho 30-day period�vill be�in when tiee notir.e i�given.
<br /> Unless I.etxler and Bormwer othenvisa agtee lrt wriking, any application of prc�ceeds to prinoipal sh:t10 not extend or
<br /> postpone the due date of the monthly paymcnts referred to in par�r�phs 1 and 2 or change the amount of the payments. If
<br /> under par�graph 21 the Pruperty is acquired by Lensdcr. Borrower's right ta any insurance poltcies and proceeds resulting from
<br /> damage to the Prc>peny prior to the acquisition shall pass to Lender tQ the extent of the sums�ecurecll�y this Security Instrument
<br /> imnxdiately prior to the acquisition.
<br /> 6,Oocup�ncy,Prcservatlon�MAinten�nce and Protection af the Property; B«ruwer's Luan Application; (,ensebolde.
<br /> Borrower shall occupy,escablish,and usc the Property as Borrower's principul residcn����within sixty days after the execution of
<br /> this Securtty Instniment und shall continue to occupy the Property as Bonawer's principal residenee for at least one year after
<br /> ille urie uI�ix:cU}�&3'wy� unSe�I�-�c3cr aih:.r:.�iac agras f::a.�t:�g, +�ti��h i^n��ns c�Al� �t he unrea�nably wid�held,or unless
<br /> extonuating eircumstances exist which are beyond Barrower's cantral. Borrower shall not destroy. dacnnge ur impair the
<br /> • �Aro,peKy, allow the Property to deterioratc, ur commic w�.��c un the Pmperty. Borcower shall be in default if any forfeitwF.
<br /> aetion or proceaiing, whether civil or criminal, is begun t��aie:in Lr.nder's good faith judgmcnt oould re�utt in forkiture of the. . ,,:;•,,
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<br /> . F+'rt�peity or othe�swise mnterialty impair thr.��en createo oy�►nis a`cxuri�y ins}tuu�cui u�i.c��ic�'����+,��1LLb140\�....,.,.�e:.:.a;,• .
<br /> Cute such a defai�i�t end reinstate,as provlded in paragraph 1$,by causin�1ha action or proceoding�.zo�be dismissed with u ruling , �.
<br /> � tt�at, in Lender's good faith detormination, precludes forfciture of the'�3orcower's inierest in ttic�•Property or other m�teri�l
<br /> ��cnpairment of the lien creatod'by this Security Insttument or L.ender's security inierest. Borrower shell aleo b0 in defsult if
<br /> ��$arrowec,during the loan appliwtian procs.ss,gave muterially false or 3naecurate information or staten�ents to Lender(or fialed
<br /> " � •�o provide Lender with any material infonot�tion)in connection with the lowt evidenced by the Note,including,but not limited
<br /> � �,tq,representations cotx.wning Borrower's a.�cupxncy of the Property as n principal residenoe. If ihis Stcurity Insttumrnt is on a
<br /> •'Ics+sd►old, Borrower shall comply with all the provisions of the lease. If Rorcower acquires fa tide to the Property, the
<br /> te:tisehold and che fa cltle shall not merge unless Lcnder�qrces to the mcrger in writing.
<br /> � 7, proteMion u[I.entkr's Bights in the Property.If Eorcowcr fails to perform the covenants ard agraments rnntained in
<br /> this Securiry Ipstrument. or there is a legal procoeding that may significantly affoct I.ender's rights in the Property(such as a
<br /> proceoding�n;bt►nkn�ptcy, probate. for condemnation or forfeiture or to enforce Iaws or regulationc), then Lerrler may do and
<br /> pa��.for whxtever'fs nooacsary ta protect the value of the Property and L.ender's righrs in the Property. I.ender's actions may
<br /> irfclude paying any sums secused by a lien which has priority over this Socurih� invtrument.•e}�pe,aring in court, paying
<br /> reasonable attomeys'fees antJ enlering on the Property to make repairs. Although I•:�nde{may take action under this par�greph
<br /> 7,T.ender does not have to do so.
<br /> ,A►ny amounts disbursed by I.ender un�er this paregcaph 7 shall baome aciditianal debt of Bomower secured by this
<br /> Socurity Instn�ment. Unless Bnrrowcr and I.ender agex to other terms of payment,these umounts shall beu int�r+est from the
<br /> c�atr of disbursement at the Note rate and shall be puywble, with interest, upon ratia from I.ender to Bonrdv�xr.requesdng
<br /> ,pa;yrixnt. � •.
<br /> • ' 8.Mort�ge I�unnce.If Lender requira!mortgage insurance as a condition of making tha loan isxured by this Security
<br /> InsUUment, Bornower shaU pay the premiums requirod to maintain the mortgagc insurar�ce in effect. If, for any reason, the
<br /> r�prtgage insurance coverage requiral by L.ender lapses or ceases to be in effect, Bomower shsll pey the premiums rcquirod to
<br /> �tb�ain covernge substantially equivalent to the mortgag�insuranct pnviously in effecE,at a cost substantially equivelent to the
<br /> ,q�st to Borrower of the moc?gsipr insurance previousG�En effect, from an alternate n�ortgage insunr approval by L.endcr. [f
<br /> �uuibstantially equivelent mortgaga irtsura�xae coverage is irot available.Bonower shalt�y to L.cndcr cach munth a sum cqual to
<br /> � one-twdRh of the yearly mortgs�ge insar:�iiae�remium txing paid by Borrower when the insurac�ce coverage lupsed or ceasod tn
<br /> �in effect.I.ender will xapt,use anct reuuis chese paymenu as u loss reserve in lieu of ►nact�,age insurance. L.oss reserve
<br /> Form 3028 ereo
<br /> pp�3 0�6
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