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<br /> � 5. ti�r.�rd or Pr�porty Inaur�nce. I3c,rrowcr shall keep thn improvementa now exi�ting or hereafter erccted on -.�,'.' .�.
<br /> the Yroperty insured nga�n�t lass by tire,hnr.erde included within tho term "extended coverago" and any other hazarde, �{�
<br /> including tloc�ds or flooding,for�vhich f.ender require.g insurance.'This insurance shall ba meintained in the emounta ,
<br /> and tor the periode thet L,ender requires. "1'he insurance carrier providing the insurance shell be chusen Uy Borro�ver •� '`,^ ,�
<br /> `�� s u b j e c t t o I.e n d e r's a p p rovel which shsll not ba unreasonably withheld.It Horrowar taila to mainuin coverage described T��t�Yti.�T
<br /> above, I.ender mey. at Lendec's option,abtain coverage to protxt L en der's ri g h t a i n t h e P r o p e r t y i n a c c o r d a n ce with� ��.^,_;4,,
<br /> �"'t""� ara ra h 7. �'
<br /> """"""� p Allinauranc� policies and renowels shall be ac:ceptable to L.ender and shall incl�uorro�ver8ohall ompt yegi e o � '-j�--�-�
<br /> •� � I.ender ehall havc the right to hold tho policiea and renewals. If i.ender roquires, P ' _�;��-:
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<br /> � L,ender ell receipt9 of paid premiume and rene�val nutices.In tho event of loss, Aorrowar Rhall give prompt notice to t r.Y,=-
<br /> insurance carrier and Lender.L.ender may mako proof of loss if not made promptly by Borrawer. �e==
<br /> Unless Lender and Borrower othetwise agree in writing,insurance proceeds ehall be epplied to restoration or repa =__
<br /> of the Property damaged,if the restoration or repair is economically feasibla and Lender's security is not l�.ssened.If t '�_`
<br /> . r restoration or repair ie not economically feasible or I.ender'e security would be lessened,the insurance proceede shall ;.���
<br /> � applied to the sums secured by thie Security Inetrument,whether or not then due,w ith any excess paid to Bonow�r. :;,,
<br /> �. Bonower abandons the Property,or does not answer within 30 days a notico from Ler►der that the ineuranco cnrrier h
<br /> �t. ottered to settla a claim, then Lender may collect the insuranca proceeds. I.ender may use the proceede to r"od w 11 �4 ��=-_
<br /> � restoro the Property or to pay sums secured by thie Security Inatrument,whether or not then due.The 3Q'clay pe .,,-,._
<br /> � ':- �
<br /> begin when the notice is given. ]ication of proceeds to principal ehall not extend or
<br /> Unless L.ender and Dorrower otherwise agree in writing,any app
<br /> postpone the due date oi the monthly paymenta referred to in paragraphs 1 and 2 or changc the amount of the paymenta. __,;.�-~��"�
<br /> If under paragreph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceede - � _
<br /> '• resulting from damaga to the Property prior tu the acquisition ehall pass ta I.ender to the extentot the sums secured by �:'._
<br /> this Security Instrument immediately pnor to the acquisttion. ,,,z-
<br /> 6.Occup�acy,Preserv�tioa,Maiatonance�nd Protection of the Property;Bnrrower's Loan Application; _
<br /> Leaseholds. Barrower shall cecupy,estxblish,and use the Property es Borrower's pr�ncipal residence within sixty days -
<br /> after the execution of this Security Instrument and shall continue to occupy the Property as Banowe�'�s principal _
<br /> _ __ �• residence for at lesst one year after the date of occupancy,unless Lender otherwise egrees in writing,which conser►t shall
<br /> ��-- -- not be unreasonably witnhcld,o�ur,iess�.icnuating cire�lmstanceA PxiAc which ara beYond Borrower's control.Borrower
<br /> shall not destroy,darnnga or impair the Property,allow tha Property to deteriorate,or commit wasu on the Property. _
<br /> � Bonower ahall be in defnult if any 4orteiture action or prceeeding, whether civil or criminal, ie b�gun that in Lender's
<br /> good faith judgment could result in forCeiture of the Property or otherwisa materially impair the licn created by thie
<br /> Security Instrument or Lender s security interest. Borrower may cure such a default and reinstnte, as providul in
<br /> � paragraph 18, by causing the action or proceeding to be dismissed with a ruling thet, in Lender's good taith
<br /> determination,precludes forPeiture of the Borrower's interest in the Property or other material impairment of the lien
<br /> created by thie Security Instrument or I.ender's security interest.Borrower shall also ba in default if Borrower,during
<br /> the loan applicntion process, gave materially false or inaccurate information or statements to Lender (or failal to
<br /> ' provide Lender with any materiel information)in connection with tha loan evidenced by the Note,including,but not :
<br />' limited to,representations concerning Borrowec's occupancy of the Property as a principal residence. Ii this Security
<br /> . � Instrument is on a leasehold,Bonower shall comply with all the provisions of the lease.If Borrower acquires fce title to
<br /> ' the Property,the leasehold and the fee title ehall not merge unless Lender agrees to the mergor in writing.
<br /> ' 7. Protection of 1.ender's Rights in the Property.If Aorrower fails to perform tho covenante and agteements
<br /> ' . contained in this Security Instrument,or there is a legal proceeding that may significantly affect I,ander's righta in the _
<br /> � �� Property (such as a proceeding in bankruptcy, probate, for condemnetion or forfeiture or to enforce laws or
<br /> • " regulatione). then I,ender may do and pay for whatever is necessary to protect the value of the Property and I,ender's �111
<br /> ' � righta in the Property. I.ender's actions may include paying any sums secured by a lien which hes priority over this —
<br /> Security Instrument,appearing in court,paying reasonable attorneys'fees and entenng on the Property to make repaira.
<br />-� ' ;�- Although Lender may take action under this paragraph 7,Lender does not have to do so. _
<br /> Any amounts disbursed by Lender under thia paragraph 7 shell become additional debt of Borrower secured by thie
<br /> '� Security Instrument.Unless Borro�ver and Lender agree to other terms of payment,these amounta shall bear interest
<br />__ . � from tha date of disbursement at the Note rate and shall be payable,with interest,upon notice from I.ender to Borrower
<br /> requesting payment. -
<br /> � 8. Mortg�ge Insurance. If L.ender required mortgage insurance as a condition of making the loan secured by this
<br /> . Security Instrument,Borrower shnll pay the premiums required to maintain the mortgage insurance in effect.If,for any ��
<br /> reason, the mortgaga insurance coverage required by Lender lapses ar ceases to be in ePfect,Borrower shall pay the ��_;--
<br /> premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost .Q
<br /> substantially equivalent ta the cost to Borrower of the mortgage insurance previously in effect, from an alternate _
<br /> mortgage insurer approved by Lender. If substantially equivalent mortgage insursnce coverage is not available, s
<br /> $orrower shall pay to Lender each month a sum equal to one�t�velfth of the yearly mortgnge insurance premium being
<br /> paid by Borro�ver�vhen the insurance covernge lapsed or ceased to be in effect.Lender will accept,use ond retain these
<br /> payments as e loss reserve in lieu of mortgage insurance. Loss reserve payments may no lon�er be required,
<br /> Form 3028 9 90 '
<br /> _ �-6H(NE)�aoai.oi P�9�3 oe e mis�ais:
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