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<br /> -�;� 97- 1�6846
<br />` � 5. He�.s�rd or Property Insuranee. Bc�rrower shull kecp the improvemcnts now cxisting or hereufter crected on the
<br />,.;.'g�i Properry insuraf against loss by firc, huuuJs includcd wiihin thc tcrm "extendcd rovcrugc" und any othcr hur.urds, including
<br /> �� flcx>ds e�r flcxxiing, fi�r which I.cnder rcyuires insuruna. This insur�mce shull bc muintiiined in the amounts�md for the Ex:riodti
<br /> -� thut L.cndcr rcquirc+. Tl�e insuranrr currier pruviding thr insunuicc+hall bu chuscn by Burruwcr tiuUjcct tu [Andcr's appro��al –
<br /> which �hull not be unreasanably withhetd. If Borrower fnils to maintain awcragc descritxd utx�vc. I.cndcr muy, ut Lender's
<br /> � option,obtain coverage to protect Lender's ribhts in thc Property in nccordunce with paragraph 7.
<br /> All �nsuran��e poiieies and renewafs shaii be uecep�abfe a, i.�:inie:r a�wt ,i�utl i���lude a+tandard rjsnrgagc clause. I.�r�dc.-
<br /> � shall hnvc thc right to hold the�licics and renewals. lf Lcndcr requires.Borrawcr shall promptly givc to Lcndcr+dl rcceipts of
<br /> paid premiums u►xi rcncwal notices. In thc evcnt of loss, Borrowcr shall give prompt noticc w thc insurancc curricr and Lcndcr.
<br />::� L.enJer may makc proof of loss if not mude prunip�ly by Bormwer.
<br />_� Unless Lender and Borrower otherwisc agrce in writing. insurance proceais shall be applled to restarntion ar repair of the
<br />�� Propeny damaged, if the restorntion or repair is economically feasiblc und Lender's�ecurity is not Iessened.If the restoratian or
<br /> �� repair is not ecanomically feasible or Lender's saurity would be Iessened, the insurnnce proceeds shall be upplied ta the sums
<br /> — secured by this Security Instrument, whcthcr or not then duc, with any excess paid to Barrowcr. If Bonowcr abandons the
<br /> Property, or dces not answer within 30 days a nottce fr�m Lendcr that the insurance carrier hus offered ta settle n cluim. thcn
<br />_ Lender may collect the insurance procceds. I.ender may usc the procceds to repair or restorc the Property or to pay sums
<br />�� secured by this Securiry Instrument, whether or not then due. 7 he 30-day period will begin when the notice is given.
<br /> Unless L.ender and Borro�ver otherwise agree in writing, a�y upplication of proceeds to principal shall not extend or
<br /> f� postp�me the due date of the monthly paymcnts referted to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Propeny is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from
<br /> dwnage to the Property prior to the acquisition shall pass to Lender to the exteut of the sums secured by this Security Insttvment
<br /> immediately prior to the acquisitiun.
<br /> b.Occupancy, Preservation,Maintenance ar.d Protcction af the Property;Borrawer's Loan Applicatian;I.easeholds.
<br /> Borrower shall occupy,establish,and u5e thc Property as Bonawer's principal residence within sixty days after the execution of
<br /> this Security Instrument and shull continue to occupy the Property as Porrower's principal residence for at Ieast one year ufter
<br /> the dnte of accupancy,unless l.cnder otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances cxist which are beyond Borrower's control. Borcower shall not destroy, damage or impuir the
<br /> .-, Propeny, allow the Property to deteriorate, or commit woste on the Property. Borrower shall be in default if any forteimrc _
<br /> action or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or othenvise muterially impair the lien created by this Security Instrument or Lender's security interest.Borrower may
<br /> cure such a default and reinstate,as provided in paragraph l8, by causing the action or proceeding to be dismissed with a ruling
<br /> ",a��' that, in I.ender's goad faith deterrnination, precludes fodeiture of the Bonower's interest in the Property or other material
<br /> � impairment of the lien created by this Security Instrument ar Lender's security interest. Borrower shall also be in default if
<br /> � Borrower,during the loan application process, fiave materially false or inaccurate information or statements to L.ender(or feiled
<br /> to provide Lender with any material information)in c,mnectiun with the loan evidenced by the Note.including,but not Ifmited
<br /> ' to,representations concerning Borcower's cecupancy of the Property as a principal re,cidence.If this Securiry Instrument is on a
<br /> '� lcasehold, Bonower shall camply with all the provisions of the lease. if Borrower acquires fee title to the Property, the
<br /> ; leasehold and the fee title shall not merge unless Lcnder agrees to the merger in writing.
<br /> r 7.Protectlon of I.ender's Rtghts in the Pcaperty. If Bonower fails to pe�form the covenants and ugreements contained in
<br /> � this Security Instrument. or there is a legal proceoding that may signiflcantly affect Lender's rights in the Property(such as a
<br /> proceeding in bankruptcy. probate. for condemnation or fort'eiture or ta enforce laws or regulations),�then Lender may do end
<br /> pay for whatever is necessary ro prutect the value af the Property and L.ender's rights in the Prop�rty. L.ender's actinns may
<br /> ' include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court. paying
<br /> _— masonable attorneys'fcrs a�id entering on the Propert}�to mal:c repairs. Although Lender may take action under this paragraph
<br /> • 7,L.endcr dces not havc to do so.
<br /> � Any amounts disbursed by Lznder under this paragraph 'l shall become additional debt of Borrower secured by this
<br /> Securiry Instrument. Unless Borrower and Lender agrce to other terms of payment, these amounts shall bear intcrest from the
<br /> � date of disbursement et the Note rate and shall be payable. with interest. upon notice from Lender to Borrower requesting
<br /> ' payment.
<br /> 8.MortgAge Insurance. if Lender rcquired mortgage insurance ss u condition of making the loan secured by this Security
<br /> Instrument, Borcower shall pay the premiums required to maintain the mortgage insurance in effect. If, for uny reason,thc
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effect. Bonower shall pay the premiums required to
<br />�-- obtain coverage substantially equivalent to the mort�age insurance previously in effect,nt a cost substantially equivalent to the
<br /> __ cost to Borrower of the murtguge insur.tnce previously in e�'fcet, from an alternute mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurnnce coverage is not avuilable,9cirrower shall pay to l.end�r e�ch manth a sum equal to
<br />_. � , one-twelfth of the yeady mongage insurance premium being paid by Borrower when the insurance c�verage lapsed or ceased to
<br />--- be in effect. L,ender will accept.use and retain the�e payments as a loss rcserve in lieu of monga�e insurance. Loss reserve
<br /> — Form 3028 9I90
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