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<br /> :;�, 98-1�13079
<br />-.�a '' S. Haa,urd or Prapercy lnsuran�ce, Borrower shaU kcep the improvements no�vv cxisting on c�reafter erected on the
<br /> -_��„-� Pro�xrty insu�ed against lass by fire, ha�ar�is included within the[erm "extendcd r,overase" and any othcr ha�rds, including
<br /> `.�=�.� floodc or floaiing, for which Lender requires insuranca This insurmue shnll he mnintained in the amou�us a�id for tl�c {xriods
<br /> ----—� thut L,ender requires. The insur�nce carrier providing the insurance shall be chosen by Aorrower subject to Lender's appmval
<br />-'�"'� which shall nnt be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's
<br />`'�5~�� nptian,obtain coverage to protect Lender's rights in the Property in Accordance witli paragraph 7,
<br /> �-��� All insurance �licies an�renewnls shall be ucceptable to Lender and shall include a standard mortgage clnuse. Lender
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<br /> ___ __-� sliall havc thc tight to hold thc policies anA renewals. If Lender requires, Borrower shall prompdy give to J..ender all receipts o `
<br /> paid premiuma and rencwal notias. In the event of loss,Borrower shall give prompt notice[o tlic insurancc carrier und L.ender.
<br /> L�c�dcr may make proof of loss if not made promptly by I3orrower. •
<br /> ��....� Unless l.ender and Borro��er otherwise agrec in writing, insurance pcoceeds shall be npplied to restoration or repnir of the
<br /> Praperty dan�aged, if thc reswrntion or repair is ee,onomtcally feuible and L.ender's security is not lessened. If thc restoration or
<br /> R}'y^�,� repair is not econornicaUy feasible or Lender's security would be lc.ssened, the insurance prceceds shall be applied to the sums
<br />,���� secured by this Security lnstrumcnt, whether or not then due. with any excess paid to Barrawer. !f Borrower abandons the
<br /> = Property,or does not answer within 30 days a natice from l.ender that the insurance caRier has offered to se[de a claim,dien
<br /> Lender may collxt the insurante proceeds. l..ender may use tde proceeds to repair or restore the Propeny or to pay sums
<br /> � secu�rd by this Security Instrurnent.whether or not then due.The 30•day period will begin when the notice is given.
<br /> Unless l.ender and Borrower otherwise agree in writing,any application of proceeds [o principal shall not extend or
<br /> postpone[he due date of the manthly payments nfened to in parzgraphs 1 and 2 or change the amount of the paymencs. If
<br /> — under paragnph 21 the Propeny is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from
<br /> ---__= Jaivage to ttte Property prior to the acquisition sliall pus to I.anAer to the extent of the sums secured by ihis Sr,curity InstNment
<br /> - immediately prior to the acquisition.
<br />:�;���� 6.�Occupsincy,Preservwtion, Mpintenance and PratecNon of ths Property;Borrower's Loan Applicsition;Levseholds.
<br /> == Borrawer shall occupy,establish,and use the Property as Borrower's principal residence within sixty days aiter the execution of
<br /> — this Securi:y Instrument and sball continue to occupy the Propeny as Bonower's principal residence for at least one yeu a8er
<br /> — the date of occupancy, unless I.ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> ex[enuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impar the
<br /> Property, allow the Properry to deteriorate, or commit waste on the Property. Borcower shall be in default if any fod�iturc
<br />----- xtion or proceeding, whether civil or criminal, is begun that in l.ender's good faith judgment could result in forfeiture of the
<br /> ��� Propeity or otherwise materially impair the lien cteated by this Security Instrument or Lender's security interest.Bonower may
<br /> cure such a default az►d reinstate,as provided in paragraph 18. by causing the action or proceaiing to be dismissed with a ruling
<br /> ;hs:, in i�.^.�er's g�!!� faj�h �leiermin.tion, precludes forfeitun of thc Borrower's interest in the Property or other m�teri�l
<br /> — impairment of the lten created by this Securiry lnstNment ur Lander's security intenst. Horrower shall aiso be in dei�ui[ii
<br /> Borrower,during the Ioan application process.gave mzterially false or inxcurate information or statements to Lender(or failed
<br /> to provide Lender with any rnaterial Information)in coruxction with the loan evidenced by the Note, including,but not limited
<br /> [o,npresentations concerning Borrower's occupancy of the Property as a principal resideace.!f this Security lnstrument is on a
<br /> �.�� leasehold, Borrower shall compiy with all the provisions of ch� lease. If Borrower acquires fee citle to the Properry. �t►e
<br /> leauhold and the fa title shall not merge unless Lendet agrees to the merger in writing.
<br /> 7,PmtecNon ot I.ender's Kights in the Properly. lf Borrower fails to perform the covenants and agtaments conuined in
<br /> this Security Instrument. or there is a legal procteding that m�y significantly affeet Lender's rights in the Pcoperty(such as a
<br /> proceeding in bankruptcy,probate,for condemnation or forfeiture or to enforee laws or regulations),then Lender may do and
<br /> pay for whataver is necessary to protect the value ot the Property and Lender's rights in thc Property. Lender's actions mry
<br /> include paying any sums securcd by a lien whicA has priority over this Security Instrument, �►ppearing in court,�ying
<br /> re�unable attameys' fe�s and entering on the Property to m�ke repurs.Although Lender may take action under this puognph
<br /> 7,Lznder daes not have to do so.
<br /> ____ Any amounts disbursed by Len�er under this paragraph 7 shalt become additional debt of Borrower stcured by this
<br /> Security Instrument. Unless Borrower and Lender agrce to other terms of paymer.t, these sunaunts sflall beaz interest from the
<br /> d�te of disburserr►ent at the Note rate and shalt be payable. with intercst. upon noticc from Lender to Bonower requesting
<br /> _ _ paynxn[.
<br /> � 8.D�ortgage Insurance.If Lender required mongage insurance as a condition of maicing die loan secured by this Security
<br /> Ins[rument, Borrower shall pay the premiums required to maintain the mor.gage insurance in effect. If, for any teason, the
<br /> mortgage insurance coverage reyuired by Lender lapses or ceaus to be in effect, Borrower shall pa}thc prcmiums requirect t�
<br /> ---= obtain coverage substanti�lly equiv�lent to the mortgage insucance previously in effcct,at a cosi substantially equivalent to the
<br /> " — cost to Borrower of the mortgage insurance previously in etifect,•from an alternate mortgage insurer approved by Lender. If
<br />_v�,�� substantially equivalent mortgage insurance coveragc is not available, Borrower shall pay to Lend�r each month a sum equal to
<br /> --��` une-twelfth of[he yearly mortgage insurance premium being pud by Borrower�vhen the insurance coverage lapsed ar eeastd ta
<br /> ��a�+` be in effect.Lender will xcept,use and retain these Qayments u a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> �F�'� Form 302t 9190
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