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<br /> - ' � 98�- 11.234� _
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<br /> ; t� S. Har.�rd or �'ro�erty lneur�nca Borrowcr shali keep thc improvemcnts now existing or hareafter erected on thc
<br /> :; Property insurcd againet lo�s by fire, hezurds I�cluded within the term "extonded covcragc" and any othcr hazafds, including
<br /> •�� floods or flooding,for which L.endcr requlres insurancc.Thie insurancc shall be maintained in the amounts and for the periods
<br />— . ., � that l.enckr requires. The insuranee carrier providing the insurance shall bc chosen by Borrowcr subJect ta Lender's approv�l —
<br /> • which ah�ll not be unreasonably wlthheld, If Borrawer fails to maintaln coverage described above, Lender may, at I.ender's
<br /> .' �� - option, obtain coverage to protect I.ender's rights ln ihe Property lu accordanc�wi�h paragraph 7.
<br /> All Insuranca policies and renewal� shall be acceptable to lxnder and shall inclucle a standard mortgagt clause, Lender
<br /> , � ehall have the right to hold the poUclea ond renewwls, If l.ender requirca, Borrower shall promptly givc to Lendcr all rcceipts of
<br /> 1 paid premiums and renrwal naticts. In the event of loss,Bo�rower shall give prompt notice to the insurance carrier and l.ender. r
<br />- .�?�*t;i fl�� l.ender my m�ke proof of loas If not m�de prompAy by Borrowrr. �
<br /> _ U�t1as I.ender and Borrower otherwise agree in wriling, insurance proceeds shaU be applieci to restoration or repair of th�
<br /> Proper�.y dxmaged,if the restoratlon or rcpair is economically fcasiblc and Lender's sccuri�y is not lessened. If thc restoration or
<br /> `!�" � repaic is not economically feaaibla or Lender's security would be lessened, the insurance proceMs shall be applied to the sums _
<br /> securcd by this Security Instrument, whether or not then due, with any excess paid to Bonower. If Bo�TOwer abandons the
<br /> " Property,or does not answer within 30 daya a notice from l.ender that the insurance carrier has offered to settle a claim, then
<br /> . • l.ender may coltect the insurance proceeds. Lender may use the proceuts t� repair or restore the Property or to pay sums
<br /> .• secured by this Sa:uriry Insuument,whether or not thcn duc.The 30-day period will begin when the notice is given.
<br />=�'� Unless Lcnder and Barrowcr otherwise ag�ce in writing, any application af proceeds to principal shall not extend or
<br /> , postpone the dua date of the montbly payments referral to in paragraphs 1 and 2 or ch�►ngc the amount of thc payments. If
<br />= ' under paragraph 21 the Property is acquired by i.ender,Borrower's right to any insurance policies and prnceeds resulting from
<br /> -; ^ dumege to the Prupeny prior to the acquiaition sh�11 pass to Lender to the extent of the sums securui by this Security[nstrument
<br />= '. icnmecti�tely prior ro the aequisidon. _
<br /> � 6. OccupAncy, Presen'otion,Malntenwnce and Protectloe of the Property;Be�rrower's Loun AppBcatlon;Leaseholds,
<br /> `'• � Bonower ehxll occupy,�stablish,and use the Propr.rty a+Borrower's principal residence within sixty daya after the executian of
<br /> ' this Security Instrument and sh�ll continue to or,cupy the Property as Borrower's principal rtsidonce for at least ona yeaz after
<br /> -, �•'' the date of occupancy,unless Lender otherwise agress in writing, which consei�t ahall not be unreasonabty withheld, or unless
<br /> � •� extenuadng circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> "''��� Property,allow the Propeny to deteriarate, or commit waste on the Property. Bonower shall be ln default if any forfeiture
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<br />_;�n ., acdon or proceeding,whether civll or criminal, Is begun thet in I.ender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materlaUy impair the lien created by this Sec:urity Instrument or I.ender's security interest. Boaower mu►y
<br /> -' �� �� cur�such a default and reinatate,as providod in paragraph 18, by caueing the action or proceeding to be dismissad with a culing
<br /> •'""��' ;,`•` that, in I.endtr's gcwd faith determination, prceludes forfeiture of the Borcower's interest in the Piroperty or other material
<br /> �� � ' imnairnkn[ of che lien created by thls Security Instrument or I.ender's security interest. Bonower shall also be in default if
<br />��:"' �'�', Borrower,during the loan application process,$ave materially false or inxcurate infotmation or atatementa to l.ender(or iailed
<br /> s�':�•;r�E:��� to provide Lender with any material info►�nation)in connecdon with the loan evidenced by the Note,including,but not limited
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<br />_��,�,,��,,, to,�epraentadons concerning Bonower s occupancy of the Property as a pdncip�i reaidence. If this Security Instrument is on a
<br /> _ •:;•;�.c-�..�, leasehold, BonAwer shall comply with all the provisions of the lease. If Borrower acyuires fee titlo to the Property, the
<br />'�`""� ""•�'`.' loauhold and the fee dAe shell not merge unlcss I.ender agrees to the merger in wdting.
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<br />�`��:";.n"r 7,Protectton ot l.end�r's ltlghts In the Property,if Borrower fails to perform the covenants and agreements wntained in
<br /> '�"'` � thia Secudty Instrument. or there is a legal procading that may signiflcantly affxt Lender's rigt►ts in the PropCrty (such as e
<br />�,:,--,. .
<br /> 4�" `" ti�� procecding in bankruptcy,probate, for condemnation or fodeiture or to enforce lews or regulations), then Lender muy do and
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<br /> pay for whatevr..r is nxessary to protcet the value of the Property and L.ender's rights in the Propeny. Lender's ections may
<br /> ;��,,�� include paying any sums secured by a lien which has prioriry over this Security Instrument. appearing ia coun, paying
<br /> �=-:a�n� reasonable attorneys'fees and entering on the Property to make repalrs. Although L.ender may take action under this parngraph
<br />__�__�� 7,Lender das not hAVe to do so,
<br />�y�.,Y��� �,ny amounts disbursed by Lender under this parageaph 7 shell become additional debt of Borrower securod by this
<br />�_„;,':ta�. Sccurity Instrument. Unless Borrower and Lender egroe to other temu of payment, thesc amounts shall beu interest fmm the
<br /> ', t� date ot disbursement at the Note rate and shall be payable, wlth interest, upon notice from Lender to Sorrower nquesting
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<br />_�-"`��k.,, paymenl,
<br />_.,.a,.,i•�:� S,Mortgage Ir►sursmce.If l.ender required mongage insurance as a condidon of making the loan aecured by this Security
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<br /> � ' -��;.{�� Instrument. Bonower shall pay the premiums required to maintain the mortgage insurance tn etfect. If, for any nason, e
<br />=�,;�Pr��i moctgage ixuurance coverege required by L.ender lapses or ceases to be in effect, Bonower shall pay the premiums required to
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<br /> �:,...;..,,;;._.= obtain wverage substanti�lly equivalent to the mongage insurancc previously in effext, at a coat subs[antially equivalent to t e
<br />=J�,,,��""::' cost to Borrower of the mortgage insurance prcvlously in effxt, from an altemate mortgage Insurer approvod by Lender. If
<br /> ��:;,��' substantially equivalent mortgege insurance covera�e is not available,Borrower shall pay to Lerder each month a sum equal to
<br /> ' , one-tweifth of the yearly martgage insurance premium being paid by Bonower when the insurazice coverage lapsed or ceaseci to
<br /> be in eftxt.Lender will xcept,use and retain these payments as a loss reserve in licu of mortgage insurance. Loss reserve
<br /> • Form 3028 9190
<br />_ . � ��BRINEI sss�s�.os v.oe a or e i��uN�:
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