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<br /> -��� 98- 112'740
<br />--- S. Hazard or Property [nsur�nce. Borrower shall keep the itnproveme[:t�now cxisting or hereafler crected an the
<br />-�,z.;�� Property'inaured against loss by firc, l�azards included within the term "extendcd roverage" and any other haza�da, including
<br />,;�,�v� floods or flooding, for which Lender requlrcs insuranca This in�urance shall tx rn�intained in the amounts and for the pericxls
<br />:��:,1&�i� that I.ender require�. The inaurance carrier providing the insurance ehall be chosenby Borrower subJect to l.ender's approval
<br /> �"`�`�'�°`''� which shall n�t be unreasonably withheld. If Borrower fails to maintain cover�ge dcscribed above, Lender mny, at l.endr.r's
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<br /> �sn��� option,obtain coverage to protect Lender's rights en the Propei�ty in aceordancewitihp�r�graph 7.
<br /> �~ All insurance policies�md renowale shall be acceptable to L,ender and shell i�clude a standard martgage clause, l..ender
<br /> ""'��.� sl�all have thc rlght to hold the policies and renewals. If L.ender requfres, Borrower shall promptly give to l.ender all rcceipts c�f �_
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<br />_-� paid premium�and renewal notices. In the event of loss,Horrower shall give prompi notice ro the Insurance carri�r a�id L.ender.
<br /> Lender may m�lce proof of lass if not made�romptly by Barcower. �
<br /> Unless Lender and Borrowec otherwise agra in writing, insurance proceeds s�ll he applied to rcstoration or repair of the
<br /> �� Property damaged, if the restoration or repair is ecor.omiaally feasible and Lender's ucurity is not lessoned.If the restoration or
<br /> ' ' repair Is not economically feasible or Lender's security would be lesuned, the insurana prceeeds shall be applied to�he sums
<br />=i1�� secured by this Securiry Instrument, whether or not then due,with any excess pUd ro Borrower. If Borrower abandons the
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<br /> .�� Propeny, or dces not answer within 30 days a notice frorn I.ender that the insurance carcier has offered to settle a claim, t r.n
<br /> -�'''�y Lender may collect the insurance proceccls. I.ender may use the proceeds to repar or restore the Property or to pay sums
<br /> --�;,'- secured by this Security Instrument,whether or not thr.n due.The 30�a,y periad willb�gin when the uotice is given.
<br /> _��� Unless Lender and Borrower othemise agree in writing, any application af procads to principul shall not oatend or
<br /> postpone the due dace uf the monthly payments refened to in paragraphs 1 and 2 or change the amount of the payments, lf
<br /> —= under paragraph 21 the Property is acquired by Lender, Borcower's right to any inwrance policies and proceeds resulAng from
<br /> -=—°�y damage to the Praperty prior to the acquisition shall pass to Lendor to the sxtent of�hc sums securecl by this Securiry Tnstrument
<br /> -` ° imtnediately prior to the acquisition.
<br /> _-- _- 6.Occups►ncy,Freserv4tbn,Maiotenance and Protation o!the Property;Borrower's La�n Appllcation;Lerseholds,
<br /> - -- Horrower shall occupy,establish,and use the Property as Borrower's principal resid�nce within sixty days after the exceution of
<br /> -- this Secu�iry Instrument and shall continue to occupy th� Property as Borrower's principal residence for At least one year afcer
<br /> "� the date of occupancy, unless Lender otherwise agrees in writing, which consent shill not be unreasonably withheld,or unless
<br /> extenusting circumstances exiat which are beyond Horrower's control, Borrower sb�ll not destroy, damage or impair the
<br /> -- Property, allaw the Property to deteriorate, or commlt waste on the Propeny. Borrower shall be in default if any forfei�ure
<br /> action or proceeding,whether civll or criminal, is begun that in I.ender's good faiih judgment wuld result in forfeitute of tht
<br /> —,_ Property or otherwise materially impair the li�n created by this Security Instrumentor Lender's security interest. Borrower may
<br /> cure such a default and reinstato, as provid�d in paragraph 16, by causing the xtionor proceeding to Ix dismissed with a ruling
<br /> tu:i, tr, I.en3ar's gc;,3 f«i,h desesm!natior., grMl!l��g fnTfeif�irc of�he eorrowor'i in�erest iu the Propeny or other material
<br /> — impairnxnt of the lien croatal by this Security Instrument or I.ender's secudty iaa:est. Bonower shall also be in default if
<br /> Borrower,during the loan application process,gave materially talse or inaccurata la(�rmarion ar statemants to I.ender(or failal
<br /> to provide Lender with any material inforniation) in conncetion with the loan evideaced by tha Note,lncluding, but not limited
<br /> to, representations concerning Borrower's occupancy of the Propeny as a principal residena, If this Security Instrument is on a
<br /> leasehold, Bonower shall cumply with all the provisions of the Icase, If 8onower acquires fee title to the Propeny, the
<br /> Icasehold and the fee tttle shall not merge unlesa Lender agrees to the merger in writin�.
<br /> 7.Pa►tectlon ot Lender's Rlgl�ts In the Property. If Borrower fails to per£Qrm the covenants and agreement�contained in
<br /> this Security Instrument. or thcre is a legal proceeding that may significantly affa� 3.ender's rights in the Pruperty (such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforco l�ws or regulations), then l.ender miy do and
<br /> pay for whatever is necessary to protect th� value of the Property and Lender's riglit�in the Property. Lender's actions may
<br /> include pAying any sums secured by a llen which has priority over this 5ecurity Instn�ment, appearing in court, paying
<br /> reasonable attomeys'fecs and entedng on the Property to make repairs, Althoug�Lender mAy take action under this paragraph
<br /> 7, Lender does uot have to do so.
<br /> Any amounts disbursed by Lender under this pazagraph 7 shall becomo �ddational debt of Borrower secured by this
<br /> _ Security Instrument. Unless Borrower and Lender agreo to other terms of paymem, these amounts shall bear interest from the
<br /> datC of disbursement at the IYote rate and shall be payable. with intenst. upon noda from Lender to Borrower requesting
<br /> payment.
<br /> S.Mortgags Insurance. If Y.ender required mortgage insurance as a condit ioa of making thc loan secured by this Security
<br /> Instnunent, Bonower shall pay the premiums required to mafntain ttie tnortgagt insurance in effect. Tf, for �ny rcason, the
<br /> rtx�rtgage[nsuranct coverage required by Lender lapses or ceaus to be In effect,Borrower shall pay the premiums requiral to
<br /> ---_ = obtain coverage substantially eyuivalent to the mortgage insurance previously in offac�,at a cost subscantially equivalent ro the
<br /> -� cost to Borrower of the mortgage insurance previously in effcet. hom an alternbe mortgage ineurer approved by Lender. If
<br /> ---�= substand�lly equivalent mortg�ge insurance coverag�is not available, Bonower s�ili pay to L,ender each month a sum equal to
<br /> - -- one-twelfth of the yearly mongage insurance premium Ueing paid by Bonower wl�n the insurance wverage lapsal or ceasui to
<br /> - - — be in effect. Lender will accept,use and retain tb.ese pay►nents as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> -�-��i� Form 302a 8180
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