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<br /> • .� . � 5. �aTaN or PtoPe*tY Ia��anee. Bomower shali keep the improvements now existing or her�after erected on the ��...`.,
<br /> ` ,N'��'' Pno�ert}r �nsured agaiast loss b}i fire.h27acds included withix►tM term"e�teadod cPvera88"and any other ha7ards. inctuding •� `�
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<br />- ' , = 800ds or flooding. for whlch Lend�reqteires iasuraace.T6is insurance shall be a;�t ��in the amounu and for We pQtiods r �
<br /> : ' - tliat Lender requires. '15ie insurauce catrier pmviding the insurance shall be chosen by Borrower subject to Lender's appruva! °:�.::,
<br /> which sha11 nai be uamasanably withheld. if Borcawer fails to maintain coverage descn'bed above. Lender may. at Lende�s • £`:�.
<br /> ;;`�s -� ,.c�� option,obtain cuverage to protect Lender's��ts in the Piuperty in a000rdance�rrith p�a�agb 7. -
<br /> ," Att insarance po6cies aad reaewals shaU be acceprable to Lender and shal!include a standard mortgage clause. Lender
<br /> �,. .�.,.,� e •
<br /> �;'�•( ' : . ,.�� shall have the right to hold the golicies and renewats.If I.ender requires,Sorrower s1�a1�promptlY give w I.ender all ncoeipts of :. _�:
<br /> ,-,:F"�k . � ; ,
<br /> - ``,� :paid pteminms and renewal notio�s.In the event of loss.Borrower s6ap give prompt notice to the i++��,•anrE carrier and Leuder. • .K�
<br /> . ,.� Lender may�tce proof of toss if not made pmmptly by Borrower. , '�'�-
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<br /> — Untess Leadcr aad Bcsrrawer othervnse agree en writing,4i1���n�e gracceds shall be applied w testnration or regair of tne _
<br /> �� �I.� Prca�eny damaged,if the resWration or repair is eeonomicalty feas�te and I.ender's seairity is not less�►ed.If the r�stoiarion or ��y;:
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<br /> „`��`:..��, • :,.�%t rePair is not econoaucaUy feas�te or I,ender's s�curity wauld 6e lesset�ed,the insuranc�pmce�is shaU be aPPUed to the sums . _�_.�•
<br /> ' < F� sec�rred by this Security Insa'ament, whether or not then due. aith any excess paid to Borrower. If Boirower abandons the ---
<br /> • : '._ f�.' _
<br /> • ':r <.� _ �% Properiy,or does aot answer within 3Q days a nntice from Leuder that the insarance carrier bas offered to settte a elaim,then :�_`'t
<br /> � Lender may wlled the insaiance pmce�ds.Lender may use the proceeds w repair or restore the P�vpeity os w pay sums . .� .� .
<br /> , s�3�iy this Sewriry Instrumen�whether or not then due.The 30-day period will begin when the sodse is given. �;,f�
<br /> �. _ ' � �.�,' UnIess Lender and Bocrower ott�wise ag�+ee in writing, any appiicadon of procee�s ta principal st�all not extend or �`��
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<br /> �<�..;�.:`:.`:� � , ,: Postpane the dne date of the monthty payments referred to in paragrap3u 1 and 2 or cbange the amount of ttie payments. If ,: ;�:L_
<br /> � �.:_.�r under pasagt�aph 21 the Property is acquired by I.ender,Bocrower's right t�any insurance p4licies and prooeeds�esulting from � .-
<br /> •,;�,� damage to the Pmperty prior to the acquisition s6aU pass ta Lender to the extent of ttte sums secaued by this Security InsGrament
<br />�.�- ' ��°'s; immediately priar to tbe acquisiHon. �.,
<br /> � .� �.., ' . �� 6.Occapaucy,Preservation,MainteaaacP and Ptot�ttIon oY the Propetty;Borrowe�s Loan Applicatiom;I.easetiolds.
<br /> ' t , ��:.
<br />`�� .: : ',t•�' Borrower shall occttpy,establish,and use the Property as Bormwer's principal residenoe withia sixty days after the exe.cudon of .
<br />_= ' tbis Sei.vrity Instrument and shail continue to occupy the Propercy as Borrower's priacipal nsidence for at least one year after "�;,
<br /> :,�:'���''. � the date qf ocenpancY.unless I.ender otherarise agree.s in writing,wluch consent shall not be a�reasonably withhetd,or uNess • ����`
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<br /> _`5 �'�`'��t�����' �: extenuating circumstances exist wluch are beyond Bornower's controi. Borrower shall not des4roy, damage or impair the -:`,�._
<br /> ;��_. ,,.`.
<br /> �� �, � . `j, , Properey, allow the Propetiy to deteriorate.or commit waste on the Property. Borrower sLall be in default if aay forfeiture ,.�"
<br /> action or proceeding,whether civil or criminal,is begun that in l.eader's good faith judgment wutd result in forfeiture of the �
<br /> � ' Praperty or otherwise materially impair the lien cnated by this Securiry Tncrm�++e�s ar 1.cnder's security interest.Borcower may -
<br /> };> ' cure s�ch a default and reinstate.as pmvided in paragraph 18.by causing the actIon ar proceeding to be dismissed with a ruling =-_
<br />'� • ' - that. in Lender's good faitb det„-rminadoa, precludes forfeiture of the Bonower's interest in the Prope`rty or other material � �,
<br /> �f;: �`•:. � impaitmQnt of the lien created 6y tbis Sec�ity Instcument or Lender's sea�rity iaterest.Bomuwer shall also be in clefault if _f�`
<br /> �,_ �. „ Borro�ver.during the loan appliration process,gave materially false or inacs�uate information or staiemenu to Ixader(or faited ___
<br /> '.�°. to provide Lender witl�any material inforrnaaon)in connection wI t h t he loan evi den c e d by t he Note.inc lu ding,6a t nu t l i m i t e d ____
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<br /> •� ' ' `. , : to,representations concerning Borrower's occupancy of the Property as a principal residence.If tlus Security Instrume�t ls on a � �,4�
<br /> �`' • ' .' A� leasehold Borrower shall comply with all the provisions of the lcase. If Borrower acquires fee dtte to the Pmperty. the , __
<br /> �.;� -.. - ;. _,; leasehotd and the fee Gtle shall aot merge untess I.ender agrees ta the merger in wriung. _-
<br /> . 7.Protecttom of Lender's Rig6ts in the Property.If Borrower fails an perform the covenants and agteements contained in
<br /> �. • ,:�;�:.; _,`�' ,'• this Security Inswment. or there is a legal praceeding that may si�candy affect Lender's rights in the Ptoperty(sach as a �
<br />,�' � � proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or mguiauoas).then I.ender may do and - '_ _
<br /> '�°�`�. !,���•.�.�.."�, i.; pay fc�ahatever is necessary to prated the value of the Property and Lender's rights in the Pcoperly. l,ender's actions may ` �_1��:
<br /> •� � incicC: paying any sums securad by a lien which has prionty ovcr this Securety Instrument, appearing in court. gayiag � ;._
<br /> �,; '� reasonable attomey3'fces and entering on che Qroperty to make repairs.AlthougJ�Lender may take action under this paragraph
<br /> f i: .. . , . . 7.L en der does no t have to do so. - -
<br /> ei'���' .� Any amounts disbursed by�Lender under this paragraph 7 shall become additional debt of Bonower secured by this ,
<br /> '+ �. � Sec��....'*iry Instnrment. Unless Borrower and Lender agree to other rerms of payment.these amounts shall bear interest from the '�
<br /> �:;{.� : � � � date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requ�sting '��
<br /> ;:. •. • � payment. '
<br /> • ��� 8. Mortgage Insurance.If Lender required mortgage insurance as a condition of makin�the loan secured by this 5ecurity
<br /> � � � � . Instrument. Borrower shall pay the premiums reguired to maintain the mortgage insurance in effect. If. for any reason. the . .. .
<br /> �;:., " ! mer,�a�insurance coverage required by Lender lapses or ceases to be in effect,Borro�ver shall pay the premiums required to � -�
<br /> �.'` � � ' obtz::�eoverage substantially equivalent u�the mortgage insurance previously in effec2,at a cost substantially equiv�'ent to the
<br /> �;;'. � • ' ; cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by T.ender. If � �
<br /> , � � � substantially equivalent mortgage insurance coverage is not available.Bonower shall pay to Lender each month a sum equal to
<br /> � • � one-twelfth of.the yearl y mortgage insurance premium being paid by Borrower when the insurance cocerage laps�3 or crased to ,
<br /> � �..�• �. � � , �s ia effect.Lcnder will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Coss resecve : �
<br /> - � � ' - Form 3�28 9/90 •
<br /> _. .. � . . � Vago 3 018 �.
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