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<br /> . � �7- �G9563
<br /> S. Hau�rd or Property Insurance. Bonower shall keep the lmprovements now existing or liereafter erected on the
<br /> Properry insared against loss by fire,hazards tncluded within the term "extended coverage" anc! any other huznrds, including
<br /> floods or tlooding. for whlch I.ender requires Insurance. This insuranc.c shall be msintained in the Amounts and for the periods
<br /> that Lender requlres. The insurance carricr providIng thc iosurance shall be chosen by Borrower subject to Lender's approval
<br /> which shall not be urtreasonably withheld. If Borrower fuils to maintaln caverage descrlbed ubove, L.ender may. ut Ixnder's
<br /> option,obtain caveruge to protect I.ender's rights in the Property in accordance with paragraph 7.
<br /> All insurance policies and renewals shall be acceptable to L.ender and shull include n standard mortgage clause. Lender
<br /> shall have thc rlght to hold the policies and renewals.If[.ender requires.Harrower shall promptly givc to Lcndcr ull reccipts of
<br /> paid premiums and renewul nottces. In tha event of loss.Borrower hhall give prompt notice to the insurance carrier And I.ender.
<br /> I..ender may make proof af loss if nat made pramptly by Aonower.
<br /> Unlosq I.cnder und Barrawcr othcrwi�e egrcc in writing, Insurunce pracccds ahuU bc appUcd ta rcstoratian ar rcpnir af the
<br /> i'roperty damugeci,lf the restorution ar repair is cconomicully fwsihie uncl I..encier's security is not Icssened.If thc rcstoration or
<br /> repair(x mt ecan�mlcully�eur�ible or I.ender'N security would tw Ies�ned,the in`urance procetda xhull be uppllai to the sums
<br /> uxured by this Sccurity lnstrument. whether cir nc�t then due, with any excess paid to Barrower. If&ttrower nba��dons the
<br /> Pn�perty, �►r dixo ixn unswer within 30 duyh u natice frnm I.crxlor Ihat tl�e incurAnrc carricr hag ufferal tu i;ettic u claim, then
<br /> [.cn�lcr may callcct the in�uruncc pracceclR. I.cndcr muy uso the prcx;cecix to repair nr resture tho Property or to Fay sums
<br /> +ecural by thiq Security Inxtrunknt,whethar or not thcn duc.Tt�e 30•day period will begin when tha noticc i�s givcn.
<br /> Unles� i.ender ancf Borrowcr othcrwlr,e ugree in wrlting, any spplicsdon of procceds to princip�l chell nM extcnd or
<br /> postpnne the duc date of thc monthly payment�s referred ta in paragruphs 1 and 2 or chunge the umount of thc paymcnts.If
<br /> undor paragraph 21 the Property is acquired by L.ender, Borrower's dght ta eny lnsurunce policles and proceeds resulting from
<br /> damage to the Propeny prior to the acquisition shall puss to I.ender to the eatent of the sums securcd by this Sccurity Instrument
<br /> immed{ntely prlor to the acquisition.
<br /> 6.Occupancy,Pre�servation,MAlntenauce and Protectton of the Property;Borrower's Los►n AppUcatlon; Leaseholds.
<br /> Borrower shall occupy,establish,and use the Property as Bnrrower's principal restdence wtthin sixty days after the exccutlon of
<br /> this Security Instrument and shall continue to occupy the Properry as Horrower's principal residence for at least one year aftar
<br /> the date of occupancy.unless Lender othenvise agrees in wrtting, which consent shall not be unreasonably withheld,or unlesa ,
<br /> extenuating circumstances exist which arc beyond Honower's control. Borrower shall not dcstroy. damage or impair the
<br /> Property, allow the Property to deteriorate, or cammlt waste on the Property. Bonower shall be In defauit if any forfaiture
<br /> action or proceedtng, whether civil or criminal,ic bevun that in Ixnder'c gcxid faith judgment could result in forfeiture of the
<br /> Property or otherwise materially impair the lien created by this Security Insuvment or Lender's security interest.Borrower may
<br /> cure such a default and reinstate.as provided In paragraph 18. by causing the action or proceecling to be dismissed wlth a ntling
<br /> that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or othcr matedel
<br /> impaimient af the lien created by this Security Instrument or Lender's secudty Interest. Borrower shell also be in default if
<br /> Borrower.dur�ng the loan application process.gave matertally false or inaccurate informatIon or statements to Lender(or failed
<br /> to provide I.ender wIth any matedal information)in connection wi�th ths loan evidenced by the Note, including.but not limited
<br /> to,representations concerning Borrower's occupancy of the Property as a principal residencc. If this Secudty Instrument is on a
<br /> leasehold. Bc�rrower shall comply with all the provisions of the lease. If Borrowcr acquires fee titic to the Property, the
<br /> leasehold and the fee tide shall not merge unless L.ender agrees to the merger ln wdting.
<br /> ?.Protection oi I.ender's Rights in the Property.If Borrower fails to perform the wvena�its and agreements contained in
<br /> this Security Instrument, or there Is a legal proceoding that mny significandy affect Lender's righu in the Property (such as a
<br /> w proceodtng in bankniptcy.probate. for condemnation or forfeiture or to enforce laws or reguladons). then Lender may do anci
<br /> - pay for whatever is necessary to protect the value of the Property and Lender's dghts in the Property. I.ender's acttons may �
<br /> �. inctude paying any sums secured by a lien which has priority over this Security Instrument, appearing In court, paying
<br /> •i re�sonable attomays'fecs and entcring an the Property to make repairs.Althou�h Lender may take action under this paragraph �
<br /> 7,Lender das not have to do so.
<br />: Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this '
<br /> Security Instrument. Unless Borrower and I.ender agree to other terms of payment, these amounts shall bear intsrest from thc ;
<br /> date of disbursement at the Nate rate and shall be payable, with interest, upon notice from Lender io Borrower requesting
<br /> payment.
<br /> 8.Mortgage Insurance.If Lender required mortguge insurance as a condition of making the loan secured by this Securiry
<br /> . Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the �
<br /> • mortgage insurance coverage required by Lender lapses or cea�es to be in effect. Borrower shaU pay the premiums roquired to
<br /> ,, dbtain coverage substuntially equtvalent to the mortgage insurance prevIously in effect,at a cost subssantially equlvalent to the
<br /> , cost to Conower of the mortgagc insurance previausly in effect, from an alternate mortgage insurer approved by Lender.If
<br /> substantially equivalent mortgage insurance coverage is not available,Borrower shatl pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurunce premium being paid by Borrower when the insurance coverage lapsed or ceased to ,
<br /> ' be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve .
<br /> , Form 3028 9180
<br /> , Psge 9 01 O
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