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<br />-=J'-��'��`� �� 98- ia.z�ss -
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<br /> -A'� ' S. Hwu►rci�or Property lnsurance. Borrower shall kcep the improvements rvaw exisAng or hereafter erected on the �
<br /> Property inaured agafn�t loss by fire, hazards included within the term "extended coverage" and any other hazards, including
<br />= � floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods
<br /> . � that I..ender requlres, The insururce carrier providing the insurance shall be chosen by �orrower subject to Lender's approval
<br /> _ i_ which shall nat be unreasonably withheld. if Borcower fails to maintain coverage describr.d above, Lendrr may, at L.ender's
<br /> :.. option,obtain coverage tu��rotect Lencler's rights in the Property in accordance with paragreph 7. �-
<br /> All insurance policies and renewals shall be acceptahle to Lender and shell include a standaccl enortgage clause. Le:nder
<br /> _v�;'Ya•,•• shall have the right to hold the policies and renewals. If L,e:nder requires, 8ocrower shall prompcly give to I.ender all receipts of
<br />= paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and L.ender.
<br />'R°-�. Lender mny malce proof of loss if not made promptly by Borrower.
<br />_ _ . �� Uuless[.ender and Bonower otherwise agree in writing, insurance proce.�eds shall be applied ro restoration or repair of the
<br />. .. Property damaged, if the resturation or repair is economically feasible and Lender's security is not lessened. If the restoratian or
<br /> �. ' repair is not economically feasible or Lender's security would Ue lessened,the insurance proceeds shall be applied to the sums
<br /> secured by this Security [nstrumr:nt, whether or not then due,with any excess paid to Borrower. IF Borrower abandans the
<br />'`"" Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then
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<br /> `�`'• � L.ender may collect the insurance proceeds. Lender may use the proceeds to repalr or restore the Property or to pay sums
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<br /> ,-. .,,.�..� secured by thi�Security Instrument,whether or not then due.The 30-day period will begin when the nosice is given.
<br /> ���}':;' •` Unless L.ender and Borrower otherwise agree in writing, any application of proceeds to principal shalt not extend or
<br />'--.s �• � postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or cliazige the amount af thc payments. If
<br /> "� `�'� ' under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurancx policies and proceeds resulting from
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<br /> damsige to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> _.-:;t� inunediately prior to the acquisltion.
<br />���`��= '� 6. Uccupancy,Preservation,Maintmance snd Protect'ron o[the Property; Borrower's Loan Applicxdon;I.easeholds.
<br />____��"- Borrower shall occupy, establish.and use the Property as Borrower's principal residence within sixty days after the execution of
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<br />�;:�+,, this Security Instrument and shall cantinue to occupy the Propeny as Borrower's pdneipal residence Cor at least one year after
<br /> "�`c°'' the date of occu anc unless Lender otherwise agrees in writing, which consent shdl not be unnasonably withheld,or unless
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<br /> �•r��.'� extenuating circum9tances eatst which are beyond Borrower's control. Sorrower shall noe destroy, damage or impair the
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<br />=-�;�;� property, allow the Property to deteriorate,or commit waste on the Property. Boaower shall be in default if iny for eiture
<br /> xtion or proceeciing, whether civil or crlminal, is begun that in L.ender's good faith judgment could result in forfeiture of the
<br /> ,`.' I..:���r���lsr2i°lAtPI^_St.BOrmwer may
<br /> -.=���-- Property or otherwise materielly impazr the lien crea[ed'oy ihi��e.,:ucity Irstrun��tt a: ,
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<br /> - ;�;•.•;;,,� cure such a default and reinstete.as pravided in paragraph 18,by causing the action or pcoceeding to be dismissed with a ruling
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<br /> _,,,,,, that, in Lendar's good faith detertnina[ion, precludes forfeitun of the Borrower's incerest in the Property or other material
<br /> ::-�� impairnxnt of the lien created by this Security Instrument or I.ender's security interest. Borrower shall also be in default if
<br /> _._.,s��,; Borrower,during the loan application process, gave materially false or inaccurate infom�adon or statertxnts to L.ender(or failed
<br /> -_-�-�:�a to pmvide Lender with any material information)in connectian with the loan evidenced by the Note, including.but not limieed
<br /> to,representations conceming Bonower's occupancy of the Property as a principal raidenee.lf this Security Instrument is on a
<br />---==��=?�� teasrhold, Borrower shall comply with a11 the provisions of the lease. If Borrower acquircs fee title to the PropertY, the
<br /> .'� '�� �;'"""�� leasehold and the fa title shall not merge unless Lender agrees to the merger in writing.
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<br /> —' =f=• ''� 7.Proteetion ot Leadet's Rights in tde Property.If Borrower fails to perfonn the covenants and agrecments contained in
<br /> _w;3� this Security Instrument, or there is a legal procecding that may significantly�ffect L.ender's rights in the Propercy(such as a
<br /> - _��� procoeding in bankn►ptcy. probate, for condemnation or forfeiture or to enforce laws or regulations),thrn Lender msy do and
<br /> "�_"`� pay for whatever is ne�essary to protect the value of the Property and Lender's rights In the Property. I..ender's actions m�y
<br /> j"�� include paying any sums secured by a lien which has priority over this Security Instru►nent, appearing in court, paying
<br /> �� __ `"--=� t�casonable attomeys'fecs and entering on the Property to make repairs. Altltough Lender may take action under this paragraph
<br /> --_- 7,l.ender does not have to do so.
<br />_;��;_:'� Any amounts disbursed hy Lender under this pazagraph 7 shall become additional debt of Borrower secumf by this
<br /> �`:'' Security Instrument. Unless Borrower end Len�er agree to other terms of payment, these amounts shall bear interest from the
<br /> :_����;�.� date of disbursement at the Nate rate and shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> -��_�.�a payment.
<br />-_,����'�� 8.Mortgage Iasurana.If l.�nder required mortgage insurance as a condition of m�lcing the loan securcd by this Security
<br /> -- - — Instrument, Borrower shall pay the premiums required to maintain the mortgage insuru►ce in effect. If. for any reason, the
<br /> �`�w{ mortgage insurance coveragc required by Lender lapses or ceases to be in effect, Borrower shall pay the prnniun�,s required tu
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<br />;_s�;;r t;ti� obtain coverage substantially equivalent to the mortgage insurance previousiy in effect,at a cast substantially equivalent to the
<br /> - cost to Borrower of the mortgage insurance previously in effec[, tiom an altemare mortgage insurer approved by Lender. If
<br /> :, � ' substantially equivalept mortgage insurance coverage is not avaitable,Bonower shall pay ta Lender each month a sum equal to
<br /> • one-twelfth of the yearly mongage insurance premium being paid by Borcower when the insurance coverage lapsed or ceased to _
<br /> be in effect. Lender will accep[. use and retain these Fayments as a loss resen��ia lieu of mortgage insuru�ce. Loss res�rve
<br /> Form 30 8 9180
<br /> �� �•6RINE)�s2��i.o2 � P,o.a oe e ba�`�r`�'�
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