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<br />;-�t . ;� S. HAZard or Praperty Insut'�1►. Rorrower shall kecp thc improvemcnts �existing on c�rcaftcr crccted on �hc
<br /> Pro�erty insured against loss by fire, hi�.nrds incluJed within the tenn "extended coveruge" amd any other h�u.ards, including
<br />�? �ti _ ..� flocxl�nr fla�ding, for which l.cnder requires insurnnce. This insurunce shull bc muintuinui in the amuunts und for the periods
<br /> .L.;:�:
<br /> � thist Lcndcr rcquires. Thc insuruncc curricr pruviding thc insurance shull bc choscn hy Eiorrowcr suhject to l.cnder's approval
<br /> which shall not h� um•casonnbly withheld. If B�rrower fails ta maintain caverage dcscribed above, I..ender miry, at Len�ler's `-
<br />�'`F' � o tion,oht�in covero e to rotect Lender's ri hts in the Pro rt in accc�rdance with aru�ra h 7.
<br /> ;�,aJ��� P S p s P� Y� p 6 P
<br /> � All in�urance policies and renewals shnll be acceptable to Lender and shull include u stAndard mortgnge cluusc. I.c:nder
<br /> ` shnll have the right to hold the policies ai�d renewals. If L.ender requires, Bonower shal!promptly give to Ixnder all receipts of
<br /> �"� ' paid premiums and renewal notices.In the event of lass, Borrawer shall give prampt notice to thr, insurance cnrrier and Lender. -
<br /> �. • ' L.ender muy muke proof of loss if not mnde promptly by Borrower.
<br />_, � , $ Unless Lender and 13orrower atherwise agree in writing, insurance praceeds shall be applied ta restoration or repair of the �
<br /> .s Praperty damaged,if the restoration or repair is economically feusible und Lender's security is not lessened. If the restoration or -
<br /> '�';::a�;,• �� �epair is not economicalty feasible or L.ender's security would be lessened, the insurance proceeds shall be applied to the sums
<br /> ""C'n� , secured by ihis Security Instrument, whether or nat then due, with any excess paid to Barrower. If Borrower abundons the �
<br /> . : Property, �r does not answer within 30 days a notice from Lender that the insurance carrier hus offered to settle a claim, then
<br />-�=Fy.;�,,,-.'� Lender may coUect the insurancc proceeds. Lender may use thc procceds to repair or restorc thc Property or to pay sums
<br />-�'•- • secured by this Security Instrument,whether or not then due.The 30-day period will begin when thc noticc is given. _
<br /> • • � Unless Lender nnd Borrower otherwise a�ree in writing, any application of proceeds to principal shall not extend or
<br /> ;;;' postponc thc due date of the monthly payments referred to in paragraphs I and 2 or change the amount of thc payments.If
<br /> ' under par�graph 2l the Property is acyuired by Lender, Borrovier's right to any insurance policies and proceeds resulting from
<br /> r dama�e to the Propeny prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br />' • '"'s immediately prior to the ncquisition.
<br /> . r� 6. Occupancy,Preservation, Maintenance and Protectlon of the Property;Borrower's Loan Applicadon; I.easeholds.
<br /> ', , Borrovser shaU occupy, establish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security[nstruntent nnd sltall continue to occupy the Property as Borrower's principal residence for at Ieast one year afler
<br /> :;:; , the dute of excupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withhcld, or unlcss
<br />''�' � - extenuating circumstances exist which ure beyond �orrower's mntrol. Sorrnwer shull not destroy. dumage or impair the
<br /> •�V.
<br /> ��rr-� Property, allow the Propei�ty to dcteriorute, nr commit watitc on thc Property. Borrower shall be in defuult if uny forfciture
<br /> �r�•'•" '� " � uction or proceedin�, whethcr civil or criniinal, is begun that in[.ender's good faith judgment could result in forfeiture of the
<br />;. '_;`;,,;;,�,� ' Property or otherwise materially impair the lien creuted by this Security Aistrumcnt or L.en�er's security interest. Burrower may
<br />�;;;�+:'���,r.;: cure such a dcfault and reinstatc,as providcJ in paragraph 18, by cuusing thc uction or procceding to bc dismisscd with n ruling
<br /> =_===?�s•�;;�, that, in Lender's gn�xi faith deterntinution, prcc:ludcs f�rfciturc nf thc Rorrowcr's intcrest in the Property or othcr material _
<br />-" =�'�'^:�'��ct impairment of the lien created by this Security Insavment or L.ender's security interest. Borrower shall also be in default if
<br />°"'-�'"'`` Borrower, durin the loan a lu.ation rocess, �tve mnteriull false or inaccurate informution or statements to Lender(nr failed
<br /> �y��.',r S PP�' P 6' Y
<br /> -==•°� ` ° to provide Lcnder with uny materiul information)in connection with the loun cvidenced by the Notc,including, but not limited
<br /> J'=�Y'�'�''� to, representa�ions conceming Borrower's occupancy of the Property as a principal residence. If this Security[nstrument is on a
<br /> --'�:`•��� y leasehuld, Borrowcr shall comply with all the provisions of the Iease. If Borrower acquires fee titic to the Propeny� the
<br />-,^�--'-� Icasehold and thc fee title shall not merge unless L.ender agrees to the merger in writing.
<br /> �!..y�..
<br /> �;���;';'ra!fk, 7.Protectton of Lender's Rights in the Piroperty.If Borrower fnils to perform the covenants and agreements contained in
<br /> `' ' this Security Instrument,or there is a legal proceeding that n�uy sibnificantly affect I.ender's rights in the Property (such as a
<br /> -6��,^;��,� . j
<br /> R;�"r.,. ' proceeding in bankruptcy, probute, for condemnution or forfeiture or to enforcc laws or regulations), then Lender may do and
<br />-�;�,�;_�:� � pay for wha�ever is necessary to protcct the valuc of the Property und I.cnder's rights in the Property. I.�nder's actions may
<br /> �r.' =�;�ay,Y, include paying uny sums secured by a lien �vhich hns priority over this Sewrity Instrument, appearing in court, paying
<br /> �� b..
<br />: ;��-� ��" rcasonablc attorneys' fees and entering on the Property to make repairs. Although Lender may takc action under chis pnragraph _
<br /> ==' `'`'�� 7, Lender does not have to do so.
<br /> "�.y ' �, '" Any amounts disbursed by Lender under this paragraph 7 shall bccome additional debt �f Borrotrrer secured by this —
<br />- Security Instmment. Unless Borrower and L.cnder agrec to other tcrms of payment, thcse amounts shall beur intcrest from the -
<br /> _: '•:..;,.�{
<br /> �b,:;.,;;'�.,�:, datc of disbursement at the Note ratc and shall bc payablc, with interest, upon noticc from Lender to Borrower requesting
<br /> . ' . payment. =
<br /> - S.Mortguge Insurance. If L.ender requireci mortgage insurance as a condition of making the loan secured by this 5ecurity
<br /> • Instrurnent, Borrower shall pny the premiu�ns requireci to maintain the tnortgage insurance in effect. If, for any reason, the =—
<br /> mortgugc insurancc covcra�c required by L,cndcr lapscs or ca�scs to bc in effcct, Borrowcr shall pay the prcmiums required to '__
<br /> obtain covcragc substuntially cyuivalcnt to thc mortgagc insurance prcviously in cffect, at a cost substantially equivulent to the 1�,�,
<br /> • cost to Borrower of thc mortgagc insurancc previously in cffcct, from a�i alternat� mortgagc insurcr approvcd by Lcnder. If o-:
<br /> substantial ly equivalent mortgage insurance coveruge is not available,Borrower shall pay to L.ender cach month a sum cyuul to [
<br /> onc-twclRh of thc ycarly mortgagc inswancc premium bcing paid by Burrowcr whcn thc insurancc covcragc lapsc.�1 or ccasc:cl to a
<br /> he in effect.l.ender will accept, u,e;md retain Ihese paymrnts as a Ic�ss reserve in lieu of' mnngu};e insuranre. Lotis resen�e �
<br /> Farm 3028 9190 -
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