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<br />_ � � � gt- �10'755
<br /> 5. Hazurd or Property Insurnnce. Rarrowcr shall kecp thc improvemcnts nuw cxisting un c�rcaftcr crccted on thc
<br /> :s' Property insured ugainst Inss by firc, liu��ards included within thc tcrm "cxtendeci covcr,igc" and any othcr hu•r.urds, including
<br /> flood5 or floadin�e, for which I..endcr rcquires insuruncc. This insurancc shull bc maintuined in thc umounts,snd fc�r thc periods
<br /> �.��t'?�°i�� that l.end�r rcquires. The insurance carrier providing the insurance shall be chosen by Qormwer suhject tu Lender's upprovul
<br /> which shall not be unreasonably withheld. It'IIorrower fails to maintain cc�verage describeJ ubewe, i.�:nder may, at L.ender's
<br />' option, ohiain cnverage to protect L.ender's rights in the Properry in urcordance with puragraph 7. .
<br /> '�� �� All insurance policies und renewals shnll be ucceptable ta L.endr.r and shall include a standurd m��rtgage clAUSC. Lender
<br />_ � shall havc thc right tci hold thc policies und rencwuls. If I.ender rcquires,9orrowcr<hall pr�mptly givc ta L.endcr ull receipts of
<br /> .� p a i d p r e rn i u m s a n d r e n e w a l n o t i c e s. I n t h e e v c n t o f l o s s,B o rr o w e r s h a l l g i v e p r o m p t n i�t i c e ro t h e i n s u r u n c e c a r r i e r n n d I.e n d e r.
<br /> , I.ender rnay rnakc proof of loss if not made pramptly by Barrower.
<br /> , ' Unless Lender nnd Borrower otherwise agree in writir.g, insurance proceccls shull be upplied to restoration or repair of the
<br /> _ � ` Properry d�unaged,if the restnration or repair is economically feasible and Lender's securiry is not lessened.If the restoration or
<br /> ' renair is not economically feasible or L,ender's security would be lessened, the insurance proceeds shall be applied to the sums
<br /> ,,.', sccurcd by tliis Sccurity lnstrument, whether or not thcn due, with any excess paid to Borcower. If Borrower abandons the
<br />-• � °� Property,or docs not answcr�vithin 30 days a notice from Lender that the insurance carrier has offered ta sctdc a claim, then
<br /> .,t.'• s�.
<br /> Lcnder rnay collect the in:urance pmcceds. Lcndcr may use thc procecds to repair or restore the Property or ta pay sums
<br /> ``� �ecurcd by this Security(nstrumcnt,whethcr or not then due,The 30-day period will begin when che notice is given.
<br />�� � ' Unless Lcndcr and Borrowcr otherwisc agrec in writing, any applicution of procccdx to principal shall not extend or
<br />- postpnne the due date of the monthly payments referrcd to in paragraphs 1 and 2 or change the umount of the payments. If
<br /> ` � under paragraph•2l thc Property is acquired by Lcnder, Horrowcr's right to any insuruncc policies und proceeds resulting from
<br /> damage to the Property prior to the ucquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br />" immcdiatcly prior to the acquisition.
<br />_ „ �, 6.Occupaney,Pr�ervation,Maintenance and Protectfon of the Property; Borrower's Loun Applicixtion; Leaseholds.
<br />�> Rorrower shall occupy,establish,and use the Property as Borrower's principal residencc within sixty days after the execution of
<br />- ;r this Sec:urity Instrument and shall continue to occupy the Propeny as Borrower's principal residence for at Ienst one yeur after
<br /> �' �' the datc of occupancy, unless L.cnder othcrwise agrces in writing, which consent shall not be unrcusonnbly withheld,or unless
<br /> — -- — ^.7!ti':1!!�i!".a C!!C!!SSlSt�Tl�^.c t.vlct iyjl:fh aft+ h�,+��nP.� a�rr�ayn,r'c �^!?I�4�. BflTf^1Yf.'r e�J�;ll nnt �at+c(l4y. �:3.Tn.&aL' OT !.^.1�8]! S�1C
<br />-, " Property.allow the Property to detcriorate, or commit w;iste on thc Property. Borrowcr shall bc in default if any forfciture
<br />-�s � , action or proceeding, whether civil or criminnl, is begun that in L.ender's gocxl faith judgment could result in forfeiture of the
<br /> `:' , . Propeny or otherwise materiully impair the lien crcated by this Sccurity Instrument or Lender's security interest.Sorrower may
<br />_'s , cure such a default nnd reinstate,as pravided in para�raph 18, by causing thc action or procecding to be dismissed with a ruling
<br />��„ , that, in Lender's good fnith determination, precludes forfeiture of the Borro�vcr's intcrest in the Prnperty or other matcrial
<br /> s�' ' � �� impairment of the lien created by this Securiry instrument or Lender's security interest. Borrower shall als�be in defuult if
<br /> `' '' Borrowcr,during thc loan application proccss,gavc mutcrially fnlse or inaccuratc information or statements to Lender(or failed
<br />�"�'��"� �'�i to pravidc Lender with any material information) in connection with thc lonn evidenced hy the Note, includin�,but not limited
<br /> ..,.,.�• ..•.•...
<br />_ .�,,�r to, representations concerning Borrower's occupancy ot the Property as a principal residence.If this Security Instrument is on a
<br />==�`�'S�`: '"' leasehold, Borrower shall comply with all thc provisions of the Icase. If Borr�wer acquires fec tide to the Property, the
<br />:,-.•.�:<rx.k.
<br />=;�,r;;;,,,,,, Ic;►sehold and the fee tiNc tihall nnt mcrge unless L.cnder agrecs to thc mcrger in writing.
<br /> '=tR*=�-�;ti 7. Protectlon of L,ender's Rl�hts in the Property.If Borrowcr fails to perform the covenants and agrecmcnts contained in
<br />�'"i"'�"''� this Securit Instrument, or there ix a Ie al roceeciin�that ma tii�niticantl affect I,ender's ri hts in the Pro rt (such us a
<br /> _ . .. Y b" P o Y • b Y ' b' P� Y
<br /> proceedi ng in bankruptcy, probate, for condemnation or f��rfeiture or tc�enforcc laws or regulations), then L�:nder may do and
<br /> pay for whntever is necessary to protect the value of the Properry and Lcndcr's rights in the Prope�ty. I.ender's uctions may
<br /> incluJe paying any sums secured by a licn which has priority over this Securily Instrument, appearing in court, pnying
<br /> • , ` rcasonable attomeys' fces und entcring on thc Property to make repairs. Altho�gh Lendcr may takc action under this paragraph
<br /> = 7. Lcnder does not huve ro do so.
<br /> = ,� Any amounts disburscd by Lendcr undcr this puragraph 7 shull berome adJitinnxl debt of Borrowcr secured by this
<br /> • . • Security Instrument. Unless Borrower and Lender agrce t��other term, of payment.thcse amounts shall bear interest from the
<br /> • datc of disburscment at thc Notc ratc and shall bc payable, with intcrest, upan noticc from Lendcr to Borro�ver rcyucsting
<br /> , paynunt.
<br /> 8. Mm�tg�};e Insm•unee. If LenJer reyuir�d mortgage insurance as a condition of making the loan securcd hy this Security
<br /> Instrumcnl, Borrcnver shall pay thc prcmiumc rcyuircd to maintain thc mortgage insuranrc in effect. If, for any rcason, the
<br /> mort�age insurance coverage rcquired by LenJer lapses or ccases to be in effect. Borrc�wer shall pay tbe premiums reyuired to
<br /> ubtain rovcragc subsWntially�yuivalent to thc mortgagc insuruncc prcviously in effcct, at u cost substantially cyuivalcnt to thc _.
<br /> cu�t tu E3nrrcnvcr of'thr mortgagc insuranrc previously in effcrt, from :�n altcrnatc mongagc insurcr approvccl by Lcndcr. It
<br /> suhstantially eyuivalent mcirtguge insurcince rcrvcruge is not availablc. Burrower sh�dl pay to L.ender cach munth a sum equal to -
<br /> onc-nsclflh oi'ihc y�carly mortgagc insuranrc prcmium hcin�!paid hy Burrowcr whcn thc intiur;tnrc cmcragc lapscd urccased to
<br /> bc in cffeci. Lcndcr will arccpt, utic and retain thc�c paymcnts as a I�i�s rescrvc in liru ��f mc�rtg�igc insurancc. Luss resc�vc _
<br /> Form 3028 9I90 =
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