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<br /> 5. Hasard or Property Insurnnce. Borrower shall keep the improvements now existiag or hereafrer erccted on the ��
<br /> Property insured against loss by firc, haztzrds includcA within thc term "extcnded caverage" nnd nny othcr haz.ards. includtng • � •• ,a�
<br /> flooda or flooding, for wliich Lepder requires insurance. '�'his insurnnce ehnll bc maintnincd in thc lmounts and tor tbe petiods
<br /> .. M that Lender requires. The insurance carrier providing the insurance shall tx chcrsen by Borrower aub)ect tu l.endor's oppruval �
<br /> � which shall not be unreaconably withheld. If k3onrower fails to malntain caverage described a6ove, l.ender may,at Lender's
<br /> option.obtain coverage to protect Lender's dghts in the Properry in accordance with paragraph 7.
<br /> All insurance policies and renewala shall be acceptabls to Lender and shall includa a ecendard mortgage clause. Lender
<br /> • � � shall have thc right to hold the palicles and tenewals. lf Lender requires,Barrower shall promptly give to Lenderdl raaipta of • ,.
<br /> � paid pnmiums and renewal notices.Iu thc cvcnt of loss, Barrower sh�ll gi��e prompt natice to the insurance carrier und L.ender.
<br /> „ w,� � Lender may make proof of loss if not made prumptly by Bonower. -. ?;:c'
<br /> � Unless Lcnder and Borrower otheruise agree In writing, ingurance pn�cr.eds shall be appl[ed to restoration ar repair of the
<br /> '"""" Properry damaged,if the rcstoration nr repair is econaic�icaiiy fr.astb{c and I.cndcr's sceurIry Is not IesFrned.If theresroration or ,..:�—sti,.�-_�
<br /> ' ��� repair is not economicully feasible or I.endtr's securtry would be l�sened, ehe insurance proceeds shall be appli�d ta the sums • -.;�5�•
<br /> ,g�:'.�°��:_.
<br /> � secured by this Security Instnrment, whr.ther or not then duc, with any excess paid co Barrowcr. lf Borrower abandana the ,. .�.;_�,,�-
<br /> Property, or does not answer witbin 30 days a raotir.c from T.ender that the insurance carrier has offcred to aettle a claim,then - ,.:„�,;r.?_
<br /> Lender may collect the insurance procecels. Leadzr may use the proceeds ro repair or resrore the Property ar to pay sums � .�;�_'���`--
<br /> secured by this Secwrity lnstrument,whether or not d�en dus.Th�30-day perlod will begin when the notice is given. ;:3�';,;T'"_
<br /> Unless I.ender and Baaower vtuerwise agm.e in writing, any application of pracoeds to principal ahall not extend or _,.�'�}�-
<br /> postpone the dua date ot the monthly paymenta referred to in paragraphs 1 and 2 or change the amouat of tlio paymenta. If ��':;"-
<br /> undar pnragraph 21 the Prop�rty is acquired by Londer, Honower's right to any insurance policies and proceeds resulting from
<br /> damage to thc Propercy prior to the acquisition shall pass to Lender to the extant of the sums secured by chis Security Instrument l:..
<br /> immediately prior to the acquisition. �•�-=_
<br /> 6.Occupancy,Preservation,Malntenance and Protection ot the Property; Borrower's Loan AppUcatiao;L�aseholds. � ,p-
<br /> '• Borrower shall occupy,establish,and use the Properry as Borrower's principa!residence within sixty days after tlie execution of f:"_�:
<br /> .�,,:..:
<br /> this Se�uri Instrument and shall cuntlnue to occu the Pro as Bonower's rinci al nsidence for at leasi one ear after i'''`y�i
<br /> � ty PY PertY P P y �t�a:�:.
<br /> the date of occupancy.unless L.ender othenvise agrees in wrlting,which consent sball not be unreasonably withheld,or ualess �
<br /> extenuating circutnseances exist which are beyond Borrower's control. Bonower shall not destroy, damage or impalr the �,�.�- � =
<br /> ' Property. allow the Propercy to deteriorate, or commit waste on the Pro p e r ry. Borrowtr shall be ln default itany forfeltun =�: �
<br /> �, actIon or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment cauld result in forfeimre of the ��::`•''
<br /> 'all im air the lien created b this Securiry Insttument or I.ender's sxuriry interest,Barrower tnay �."^
<br /> Property or otherwise maten y p Y
<br /> ;. ��
<br /> � cure such a default and reinstate,As provided in paragraph 18,by causinS the action or proceeding to be dismisscd with a n�lm8 � -
<br /> that, in Lender's good faith determination, precludes forfeiture of the Bonowtr's interest in the Property or other materIal
<br /> � impairment of the lien ereated by Wis Security ins[rument or Lender's sccurity IIlIB1C3t. 8orraw�r ohalt�!�:w i�dsfault if
<br /> � Boaower, during the loan application process,gave materially false or iaaccurate information or stutements[o Leadet(or failed _
<br /> to provlde Lender with any material information)in connection with the loan evideaced by the Note, including,but not limitcd
<br /> to,representations conamin6 Borrower's occupaney of the Property as a principal reaidence. If this Sccuriry Insir�ment is on a
<br /> leas�hold, Borrower shall comply with all thc provisions of the leasc. If Borrower acyuires fee title to sl�o Property, the
<br /> leasehold and We fee tide shall not merge unless Lender agms to the raerger in writing.
<br /> . � 7.I'ratcxtlota of Lrxe@er's Righ�i in the Property. If Borrower fails to perform the covenants and agreements coataiaed in `�u
<br /> this Security Instrument, or there is a legal proceeding that may signtficantly affect Lender's rights in tlie Propecty(such as a -- --
<br /> pmceeding in bankruptcy, probate, for condemnation or forfclture or to enforc� laws or regulations),then Lendcr may do and
<br /> pay for what�ver is necessary to protect tde v�lue of tho Property aad Lendor's rights in the Proporty. Lender's actions may
<br />- include paying any sums sxund by a lien which has priority over this Securiry Instrument, appearing In coutt, paying
<br />';, , reasonable attomeys' fees and entering on thc Property to muke repairs. Although Lender may take action under tlsie paragraph
<br /> ��. 7,Leader does not have to do so.
<br />-� f '�� /►ny aroouats diabursed by Lender under thia paragraph 7 ahall become addidonal debt of Borrower aecund by thls
<br /> � Sxurity Instivmeat. Unless Hanower and Lender agree to other terms of payment,these amounts shall baar iatercat f�+om the
<br /> � date of disburaement at the Note rate and shall be payahle, with interest, upon notice from Lender to Borrower requesting
<br /> _ payment.
<br /> ;� S.Mortgage Ynsurance. If Lender nquired inortgage insurance as a condltion of making the loan secured by this Securiry --
<br />� �'` ' Insuvment, Borrower ahall pay the premiuras required to maintain the mortgage iasurance in effxt. If, for eny reason. tt►e
<br />�-� mortgage insuraace coverage nquired by Lender lapses or ceases to be in effect. Borrower shall pay the prerniu�ss requlred to
<br />'��� ��°' obtain coverage substantially equivalent to the mortgage insurance previously in effxt,at a cost substantially equivalent to the
<br /> - • cost to Borrower of the mortgage insurance previously in effect, from an uleernate mortgage insurer approv�d by Lender. If
<br /> -• �•� � substantially equivalent mortgag�insurancs coverage is not availablc,Borrower shall pay to Lender each mont6 a sum equal to
<br /> one-twelfth of the yearly mortgage tnsurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br />- � be In effect. L.ender will accept,use and ntain these payments as a loss reserve in lieu of mortgage insurana. Loss reserve _
<br /> ,�{ Form 3028
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