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<br /> ��'r''� � 5. Ha�,ard or Property Insurance. Horrower shall kecp thc improvements now cxisting on c�rea er crec the
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<br /> �4�•rr�i; 1'ropeny insured against losc by firc, hazards includcd wichin thc term "extendcd coverage" nnd any other hnzards, including
<br />-'"r��'`" " floods or floodin for which I.ender requires insurunce. This insurnnce shall be maintuined in the amounts and for the periods
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<br />__y��i that Lender requires.The insurunce curricr providing the insurance shall he chosen by B��rrower sub,ject to L.ender's appmvn
<br />__y.��� which shall not bc unreusonably withheld. If Borrower fails to mnintuin coverage described above. L.cnder may, at Lender's
<br />-w.� -�; option,obtain caverage to protect L.ender's rights in the Property in accordance with paragrnph 7.
<br /> All insurance palicies and renewals shall be acceptable ta Lender and shall include a standurd n►ortgage clause. I.ender
<br /> � shall havc tlie right to hold thc policies and renewals. If Lender requires,Barrower shnll promptly give to Lender all receipts of
<br /> �• paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.
<br />`{;;;�;���..*� Lcnder may makc proof of loss if nat madc promptly by Borrowcr.
<br />--..�=.t�;�:', Unlcss[.c:ndcr and Borrowcr otherwise agrce in writing, insurance proceeds shall be applied to restoration or rcpair of the
<br /> -`�;�`~`��: Property dama�ed, if the restoration or repair is economicully feasible und I.ender's securiry is not lessened. If the restoration or
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<br /> , r- repair is not economically feasible or Lender's security would be Iessened, the insurance proceeds shaU be appli to t e sums
<br /> � "��'"���� secured by this Sccurity Instrumcnt, whether or not then due, with any excess paid to Borrower. lf Borrower abandons the
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<br /> -- _' "� Property, or does not answer within 30 duys a notice from Lender that the insurance canier has offered to settle a claim, t en
<br /> ��`�•'v�`°" I.ender may collect the insurance proceeds. I.,e;nder may use the proceeds to repair or restore the Property or to pay sums
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<br /> : �1, .. sccurcd by this Securiry Instrument,whether or nat then due.The 30-Jay period will begin whcn thc notice is given.
<br />;�:•�:..'.'•�.:: Unless Lender nnd Barrower otherwise a�ree in writing, any upplication of proceeds to principal shall not extend or
<br /> postpone the due datc of the monthly payments referred to in parngraphs 1�and 2 or change the amount of the payments. If
<br />;':`��.-�.�,:�,P under paragraph 21 the Property is acquired by Lender, Horrower's right to any insurance;policies and proceeds resulting from
<br /> damage to the Pn�perty prior to the acquisition shaU pass to Lender to the extent of the sums secured by this Security Instrument
<br /> _�_•��^� immediately prior to the acquisition.
<br /> ; �; 6,Occupancy, Preservntlon, hlotntenunce and Protection of the Property; Borrower's Loan Application;Leuseholds.
<br /> �."�` ��`� ' Barrower shal l occupy, estublish, and use the Praperty as Borrower's principal residence within sixty days after the execution of
<br /> '_:��-,}�{-
<br />=°�.+ni';,,;:,, this Securiry Instrument and shall continue to oc�upy the Prapeny as Borrower's principal residence for at least one yeur after
<br /> �" •;�.� the date of occupancy, unless Lender otherwise a�rees in writing, which consent shall not be unreasonnbly witliheld, or untess
<br />- � cxtenuating circamstances exist which ure beyond Borrower's cnntrol. Borrower sliall not destroy, dumagc or impair tl�c
<br /> -- "`"'; Property, allow the Propertv to deteriorate, or commit waaic aii tiie Froperty. B��rau'cr sha!1 be in d�f�uli if any f�tfP�mre ,
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<br /> =`.-;,y?�;�� action or proceeding, whether civil or criminul, is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> =^�`� Property or otherwisc materially impair thc lien created by this Security Instrttment or Lendcr's security interest. Borrowcr may
<br />'$'��If� cure such a default and reinstate, as provided in p�ragraph 18, by causing the action or proceeding to be dismissed with a ruling
<br /> --�n.
<br />__ =-�Thr,�er� thnt, in L,ender's good fuitli detcrmination, precludes farfeiture of thc Ronower's interest in the Property or other materi
<br /> --:�r���,�� impairment of[he lien created by this Securiry Instrument or L.ender's security interest. Borrower shall also be in default if
<br /> —Y.r,`,�y� Borrower,during the loan application process,gave materinUy false or inaccurute information or stt►tements ro I.ender(or failed
<br />;�:.�,_;�,�r�-� to provide Lender with any muteriul information)in connection with the loun evidenced by the Note. including,but not limited
<br /> _-��_:-��� to, representations coneerning Bonower's accupa�tcy of the Property as a principul residence.If this Security Instniment is on a
<br /> � '�-"'� f Ieasehold, Borrower shall comply with all the provisions of the lease. lf Burrower acquires f'ee title to the Property, the
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<br />-_it:�y� IeaseholJ and thc fee tide shall not mergc unless L.cnder agrecs to thc mergcr in writin�.
<br />-�'�� 7.Protectlon of Lender's Rtghts in the Pro�eMy.If Burrowcr fails to perform the covenants and agreements contained in
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<br /> _�yyf�:� this Security Instrument, or thcre is u Icgal procecding thut may signiticantly affect I.ender's rights in thc Property (such ns a
<br /> �;:_-�.;.�;� prnceeding in bankruptcy, �robate,for condemnution or forfciture or to enforce laws or regulations),then Lender may do nnd
<br />-:...,,��;"i .' pay for whatever is nt:cessury to protect the vulue of the Yroperty and J.ender's rights in the Property. Lender's act+ons may
<br /> include paying any sums secured by a lien which has priority ovcr tliis Security Instrument, appearing in court, paying
<br /> ;*'• •'�`� • rcasonable attorneys' fces and entcring on thc Property to make repairs. Although Lendcr muy tuke action undcr this paragraph
<br /> w:,,t ;,�. 7, Lcndcr does not havc to do so.
<br /> --.=,-�,h :;�. Any amounts disbursed by Lender undrr this puragraph 7 shall become additional debt of Bonower secured by this
<br /> '+"' ' 5ccurity Instrumcnt. Unlcss Borrowcr und Lendcr agrec to other terms of payment, thcsc amounts shall bcAr interest from the
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<br /> ° '',, . datc ut'disbursemcnt at thc Notc ratc and tih�dl bc payablc, with intcrest, upon notice from Lcndcr to Borrowcr requcsting
<br /> paymcnt.
<br /> 8.Mort�uge Insurnnce.if LcnJcr rcquircd mortguge insurance as a condition of making the loan sccurcd by this Security
<br /> � Instrument, Borrower shall pay thc prcmiums requirui to maintnin thc mortgage insurance in cffect. If, for any rcasan, the _
<br /> e� mortbuge insurance coverage reyuired by Lender lapses or eeases to be in effect, Borrower shaU pay the premiums reyuireci to v_
<br /> :` obt:�in arverage substantially cyuivalent to the mortgage insurance previously in effect,at a cost substnntially equivalent to the _
<br /> cost to Borrower of thc mortguge insurunce previously in effeet, tYom an xlternate monguge insurer approved by I,ender. If =
<br /> � substantially cyuivalcnt mortguge insurancc coveragc ix not availablc. Borrowcr shall pay to Lender cach month a sum cyual to _
<br /> onc-twclfth c�f ihc ycarly mortga�c insurancc premium bcing paid hy Burrawer whcn thc insurancc coveragc(apsed or ceaseci to _
<br /> be in effect. l,ender will nccept, use and ret.iin these payments as a loss reserve in licu of mortga�;e insurunce. L.oss reserve
<br /> Form 3028 9190 =
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