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<br /> 5. f#pr.�rd or 1'rnperty I�ttiurance. Nurn�wcr shell kccp thc in�pruvcmcnty ituw existing un c�rcuftcr crcctc�l on �hc
<br /> F'roperty insured aguinst lnss by fire, haz:►rdti inciuded within ihe term 'extend��l co��erage" nixl :�ny uthcr hur.urdw, i.ncludin�;
<br /> flcxxiti or ilocxtioig, fbr whirh l.rndcr rcquireti insurancc.Thl�;insuruncc shc►II hc maiut��incd in tlic umount5 und tin�thc pericxtti
<br /> that l.cndcr rcyuires. The insurancc carricr providing thc insur��ncc sh:dl Ix clwscn by f3urrowcr �:uhjcct tu iAndcr'ti uppruvul
<br /> wl�irh sh111 not bc unrcusonubly withhcld. lf Borrowcr fails ta +n;dntuin ruvcragc dc:rritkd uM�vc, L,�udcr i�ury, nt L.ci�dcr's
<br /> option,abtain coverage to prutect L.ender's riglus in the Pmperty in uccordance with paragruph 7. —
<br /> RII insurance�licies nnd rena��als shnll be ucreptable to Lendcr und shull includc u ytandurd mortgugc cluusc. I.�:ixler
<br /> shull have the right ta hold the pc�licies and rcnewuls. If Lencler requires,Borrower shall prompdy�;ive to l.ender ull receipts of
<br /> paid premiums und renewal notices. In the evene of'loss,Bonower shull give prampt notice to thc insuruncc curricr and Lc�xler.
<br /> Lender may maka pronf of lass if nat made promptly by Borrower.
<br /> Unless Lendar und Barrower otherwise agrce in writing,inr,urance procceds shall be npplied to restoration or repair of the
<br /> Propeny damagal,if the restaration or repair is economically feasible ctnd L.ender's security is nut lessenal. If the re,wration or
<br /> repair is not economically feasiblz or I.ender's security would be Iessened, the insurance proceeds shall tx.applied to the sunts
<br /> secured by this Security lnstcument. whether or not then due, with any eacess paid to Borcower. If Borrower abandons the
<br /> Propeny. or das not answcr within 30 days a notice from I.ender thut the insurance currier has offered to settle u claim. then
<br /> l.ender may callect the insurance proceeds. Lender muy use the proceods to repair or restore the Property or to pay sums
<br /> securod by this Security Instrument,whether or not then due.Thc 30-day period will begin when the noticc is given.
<br /> Unless Lender und Borrower atherwise agree in writing, c►ny applicntion af proceeds to principal shall not extend or
<br /> postponc thc due date of the monthly puymen�9 referred to in paragraphs 1 and 2 or change the amount of the payrncnts.If
<br /> undcr paragraph 21 the Propeety is acquired by I.onder,Borrower's right to any insurance policies and pracads resulting from
<br /> damage to the Property prior to ehe acquisition shall pass to Lcndcr tu thc extent of the sums sceured by this Secarity Instrument
<br /> imrnediately prior to the acquisiY�on.
<br /> 6.(k�pwncy,ihYServAtbn,MaintenAnce And ProtecUon oi the Property;Borrower's Lo�n AQpUcatton;Les�sef�olds.
<br /> Borrower shall occupy,establish,and use the Property as Barrower's principal resid�nce within sixty days aft.er the execution of
<br /> this Security Iastntment and shall conunue to occupy the Property as Borrower's principal residena fos at Ieast one year after
<br /> the date of occupanc:y,unless Lender otherwise agrces in writing. which consent shall not ba unreasonably withheld, or unless
<br /> extenuating circumvtences exist which are beyond Borrower's control. Borrower shall not destroy. damage or impair the
<br /> P'rope►ty, allow¢fie Property to deteriorate, or commit wnste on the Property. Borrawer shall be in ckfault if any forfeituc+e
<br /> action or ptnceeclin�. whether civil or crin�inal,is begtu�that in Lender's good faith judgment could result in forfeiture of tho
<br /> Pmperty or othemise materially impair tha lien created by this Securiry Instniment or Lender's se�urity interest. Bocrower may
<br /> ciice such a def�uilt and reinstate,es pmvided in paragraph 18,by causing the action or procading to be dismissal with a tuling
<br /> that, in Lender's good faith deteravnation, precludes forfeiture of the Borrower's interest in the Property or other cnateria!
<br /> impairment af the.lien created by thls Socurity Insnu�nent.ar I.onder's security interest. Borrower shaU alsa bs in d�fa�lt if
<br /> ,, Borrower,during the loan application process,gsve materi�Uy false ar inaccurate information or statemcnts to L.ender(or failecl '
<br /> to provide Lender with any matcrial informnaon)in cor.nectfon with the loan evidencod by the Note,including. but not Iimiled '
<br /> eo.representallons conoerning BoaowePs occupancy of the Prope�ty as a principxl residence.If this Sxnrity Instiumeat is on a
<br /> lcasthold, Horrower shall comply with all the provisions.of the lease. If Borrower acquires f�e title to the Property,the .
<br /> leasehold end the fce tide shall not merge urtles�[.ender agras to the mcrger in writing.
<br /> 7.Pratection of�.ender's Righte in the�'mperty.If Borrower fails to perform the covenants ancl agraments contained iq '
<br /> - thls Security Inst�ument, or there is a Iegai proceeding that may significantly affect Lender's righte!n the Property(such� a
<br /> � grACOOding in b�nkruptcy.probate, for coidemnutlan Ar for(eiture or to enforce laws or regulation�), tlxn Lender may do uxl �,
<br /> pay for whatever ls noc�ssary to protect the value of the !'ruperty and Lender's rights in the FropeRy. Lender's actions may
<br /> = include poying any sums secured by a lien which has prlority over this Security Instrument. appe�ring in court, paying �
<br /> � rason�ble attomeys'fas and entering on the Property to make repairs.Although Lender may take ection under this paragnph
<br /> 7,Lender does not have to do so.
<br /> - Any amo�nts disbursed by Lend�r under this paragraph 7 shall become addidonal debt of Borrower secured by this
<br /> ' Securlty Inst�ument. Unless Bonower and Lender agree ta other tem�s of payment. thcse amounts shall bear interest from the
<br /> d�te of disbutxment at the Note rate and shall bc payable, with iater�st.upon notice from L.ender to Bornbwer roqucsting
<br /> PaymcaE
<br /> 8.Mort=age Insurance.If Lendor required mortgege insurance as a condition of making the loan securod by this Socurity
<br /> ; Instnuaent, Borrowcr shall pay the premiums requirtd to maintain the mortgagc insurance in effect. If. f.or any reason,the
<br /> % moztgage insurance coverage required by l..endcr lapscs or ceas�s to bc in effxt,Borrower shall p�y the prcmii�ms requirod to
<br /> obtain coverage eubstantially equivalent to the mortgage insurartce previousiy in effect,ut a cost substantially equivalent to the
<br /> ; cost to Borrower of the mortgage insurance ptieviously in effect, from an alternate mortgage insurcr approved by Lender. If
<br /> � substanti�lly equivalent mongage insurance coverage is not available. Borrower shall pay to Lender each month a sum oqual to ,
<br /> � onatwelfth of the yearly mortgage insurana premium being paid by Borrower when tbe insurance coverage lapsed or ceased to
<br /> �� be in effect. Lender will aceept.use and ntain these payments as a loss reserve in lieu of mortgage Insurance. Loss reserve '
<br /> Fatm 3020 91�0
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