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<br /> 97- �04429
<br /> S. Haznrd or Property Insur�nce. Aorrowcr shall keep thc improvements now cxisting on c�renftcr erectcd on the
<br /> Propcny insurcd aguiust loss by fire, hu���rds includcci within the term "cxtcndcd rnveragc" and uny other huzards, inciuding
<br /> Flaids ur flcxxting, for which Lender requires insurnnce.This insurance shall be maintnined in die umounts and for the periads
<br /> that Lcnder rrquire�. Tlir insurnnre currier pi•��viding the insurance shuU Ue chosen hy �3arruwer subject to L.ender's upprovul c
<br /> which sh;di nut bc unrcusonnbly withhcld. If&�rsower fuils to muintain covcrugc dcsrribcd ub��vc, Lcndcr muy, nt L�:udcr's
<br /> aption,obtnin roveragc tu pratcct l.cndcr'y rights in thcProperty in i►ccorduncc with parngrupli 7.
<br /> All in�urnncc pc�licics und rencwnlx shull bc ncc�p�liblc to Lcndcr und shull includc n swndurd martgagc clttusc. l.cndcr
<br /> yhall havc ihc rfght to 4nIQ thc{xilicics und rencwals. If Lc�xlcr rcyuires.Born�wer shall promptly givc to Lcndcr ull rcccipts of
<br /> puid prc�nfwm und renewid nuUceti. In thc event��!I�>tis,Beirn�wer rhull bive prompl noticc to the insurance a�rrier und L.endcr,
<br /> l.cndcr iuuy nmkc prvx�f uP I���v IP��at m;K�c pn,m�itly l�y Rc,rrow�r.
<br /> Unlcs� l.�iKlcr uixl li��rruwcr�►thcrwlw:ugrcc in wdti ng, insuruncc pnxecd.r•shnll bc upplicd to rc�torutiun ur r�pair c�t thc
<br /> Pro�xrry dnn+ug�til, il'ihc resturutfun or rcpuir is ccan�mdculty f'cu�ihlc unJ I.cndcr'ti sceurity is nuc Ic.r•senai.If thc restoration or
<br /> rcp:dr i� nnt ccunumically fruyfhl�nr l.cndcr'y sca:urity w•aiuld Ix; Ics,encd. �hc insuruncc pr�kccdc;shull bc upplicd to thn sums
<br /> nccurcd by ti�f+ tircurUy Iiitilrunocnl, whcthcr or not thcn duc, with uny excess puid tu I��rrowcr. If Bormwcr nbandanr thc
<br /> Pru�xrty,��r di�cs nut unswcr within 3U Juys u notfco frurn I.�:ndcr thnt�hc insuruncc curricr hus olicrMl to scttic a cluim, then
<br /> Lcndcr may collect tl►c insuranrc pnxcals, Leneicr may utic thc pnxceds to rcpuir or resture the AropertY or to puy sums
<br /> secured by this Sccurily i��titiument,whcNzcr or n�t thc:nduc.l'he 3U•c���y r�crind will begin when the i�oHce is Eiven.
<br /> Uiiless l.cixlcr nnJ &irrower othcrwisc agrcc in writin�, any upplicution of proccccls to principal shull not extend or
<br /> postponc thc duc dute of thc monthly payments referrcd to in paragraphs 1 und 2 or changc the amount of the payrnenta. If
<br /> under paragrupl�21 thc E'raperty is acquired by Lcnder,Borro�vcr's risht to uny insurance pulicics and proceeds resulting fi•om
<br /> damage to the Property prior to the acquisition shs�ll p:us ta I.ender to the extent of the sums secured by this Security Instrument
<br /> immc�liatcly prior to thc ucquisition. ��tion;Leaseholds.
<br /> 6.Occupancy. Preservotfon,Malntenance and Protecdon ot the Property; Borrower's Loan App
<br />� Burrower shall occupy,establish,and use the Property as Barrower's principal residence wlthin sixty days after tlie execution of
<br /> this Security Instrument and shall continuc to occupy �he Property as Borro�ver's principal residence for at least one year after
<br /> the date of occupancy,unless Lender otherwise ugrees in writing, which consent shnll not be unreasonably withheld,or unless
<br /> extenuating circumstances exist which ure beyond Borrower's control. Bonower shall not destroy, damage or impair tlte
<br /> �����y �__��; t�� ����� z� ��,�n�r�.�, ���n�prnii wacte on the PropertV. Borrower shall be in default if any forfeiture
<br /> action or proceeding,whether civil or crimimd, is begun that in Lender's good faith judgment could result in forfeitut�e of the
<br /> Property or otherwise materially impair the lien created by this Security Instrument or L.ender's security interest.Borrower muy
<br /> cure such a dcfault and reinstate,as provided in paragraph 18. by causing the action or proceeding to be dismissed wlth a ruling
<br /> that, in Lcnder's �ood faith determination, precludes forfciture of thc Borrower's intorest in the Property or other muterial
<br /> impairment af the lien created by this Security Instrument or Lendcr's security interest. Botrower shall alsn be in dofuult if
<br /> Borrower,during the laan application process,gave rnaterially false or inaccurate informution or statements ta Lendar(or failed
<br /> to pravide Lender with any muterial informadon) in conn�ction with the loan evidenced by the Note.tncluding,but not linlited
<br /> to. representutions concernin�13orrower's a:cup�tncy uf t:�z Prop�:rty as a principal residence. lf this Srr.urity Znatrument is on u
<br /> Icaschold, Borrower shull camply with all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shtill not merge unless Lendcr agrees to the mer�er in writing.
<br /> 7. Protectlon o[I.ender's Ittghts in the Property.If Borrower fuils to perform the covennnts and ngreements cantained in
<br /> this Security Instrument, or there is a leg�l procceding tt�at may significantly affect Lender's rights in the Property(such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of th�Property and Lender's rights in the Property. I.ender's actiona mey
<br /> in�lude paying any sums secured by a lien wh{ch has priority over this 5ecuriry Instrument, appearing in cnurt, paying
<br /> r�;asonablc dttorneys'fees and cntcring on the Property tc�make repairs. Although Lender may take action under thie puragraph
<br /> 7, I..ender does not have to do so.
<br /> Any amounts disburscd by Ixnder under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment,these amounts shal! bef►r intetest from the
<br /> date of disbursement at the Note rate und shall be payable, with interest, upon notice from Lender to Barrower requcsting
<br /> payment.
<br /> 8.Mortgage Insurance.If Lender requireci mo�gage insurunce as a condition of making the loan secured by this Security
<br /> Instrument, Borrower shall puy the premiums requiral to mnintuin the mortgagc insurance in effcct. If, for any renson. the ,
<br /> mongage insurance coverage required by L.ender lapses vr ceases to be in effect, Horrower shall pay the premiums required to
<br /> obt�in covernge substantially cquivafent to tho mottgage insurance previously in effect, at a cost substantially equ{velont to Gtic ;
<br /> cost to Borrower of the mortgage insurance p�eviously in effect, from an altematc mortgage insurcr approved by l.ender. If
<br /> substantinlly cquivalent mortgage insurance covemge is not avnilable, Borrower shall pay to L.ender euch month a sum cc�unl to ,
<br /> onatweltth of the ycatly mortgnge insurance premium being paid by Borrower when thc insurance covemge lapsed or ceaseil to
<br /> be in effect. Lender will accept, use und retain these peycnente us a loss rescrve in licu of mortgage insurance. L.oss reserve
<br /> Porm 3028 9190
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