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JUN 27 '00 09:50AM WILLSON & PECHACEK 0 0 0:0 5.7.5
<br />;.. PA
<br />All Insurance policies and rentrwais shell be acceptable to lender and shall include a standard mortgage clause.
<br />Lander shell have ft right to hold the policies and raneteels. If Larder requires, Borrower shall promptly give to Lender
<br />all race" of peld premiums and non" notices. In the event of loss, Borrower shall give prompt notice to the
<br />insurance aarrtsrand Lender. Lender may matte prod of knit, If not made promptly by Borrower,
<br />Unless Leader and Borrower otherwise agree In wridng, Insurance proceeds shall be applied to restoration or repair
<br />of the Property damaged, ifthe restorations or repair is economically feasible and lessened. Lenders security is not les If the
<br />restoration or repair is not sconomlcaly feasible or Lender's security would be ioseened, the Insurance proceeds shall
<br />be applied to the sums secured by this Saowfty Instrument, whether or not then due, with any excess paid to borrower.
<br />If Borrower abandon & the Property, or does not answer within 30 days a notice from Lender that the insurance carrier
<br />has offered to settle a claim, then Larder may collect the Insurance proceeds. Lender may use the proceeds to repair
<br />or restore the Property or to pay sums securad bby this Sectirly Instrument, whether or not then due. The 30-day period
<br />will begirt when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any appiic0on of proceeds to principal shall not extend or
<br />postpone the due date of the monthly pa)mtents referred to In paragras 1 and 2 or change the amount of the
<br />payments, If under paragraph 21 the ropany Is acquired by Lender, Borrower's right to any Insurance policies and
<br />proceeds resulting from damage to the Pre=y prior to the acquisition shall pass to Lenderto the man% of the sums
<br />secured by this Security Instrument Immediately prior totho acqulsltlon.
<br />& Occupancy, Preservation, MalrMrtanee and Protection of the Property; BerroviWa Loan Application;
<br />Leaseholds. Borrower shell a oceupY establish, and use the Property as Borrower's principal reeldenee within sixty days
<br />Star the ocutlort of this Security Instrument and shell conflnue to occupy the Property as Borrower's prktclpal
<br />realdence for at least one year after the date of cocupaney, unless Lender otherwise agrees In writing, which consent
<br />shall not be unreasonably withheld, or unless weenuating dreumstanees etdsr which are beyond Borrower's control.
<br />Borrower shall not destroy, damage or Impair the Property, allow the Property to deteriorate, or commit waste on the
<br />Property. Borrower shall be In default I any forfeiWreaction or proceeding, whether civil or criminal, Is begun that in
<br />Lenders good faith judgment Could result In toAViture Of the Property or otherwiss materially Impair the lien created by
<br />this Security Instrument or Larddoes security Interest Borrower may cure such a dafault and reinstate, as provided In
<br />paragraph 19, by causing the action or proceeding to be dismissed with a ruling that, In Lender's good faith
<br />detetMnation, precludes forfeiture of the Borrower's hrterest In the Property or other material Impairment of the lien
<br />created by this Security Instrument or Lender's security Interest Bon`OWCr shall also be in default If Borrower, during the
<br />ion appl(catlon process, gave materially false or Inaccurate Intomtation or statements to Lander (or failed to provide
<br />lilruder with any material Infonmatlon) in tronrneclbn with the loan evldenoed by the Note, Including, but not limited to,
<br />represertattone concerning Borrower's oy d the Property as a principal reaidance if this Securlry Instrument Is
<br />on aleaeohoid, eonawer sha11 oomplywlth I the proNsbns of the lease. If Borrower acquires fee tMle to the Property,
<br />the laaaehok! and the tits tide shall not merge unless Condor agrees tvthe merger in wridng.
<br />7. Proteetlon of Lender's Flights In the Property. II Borrower fags to perform the covenants and agroereente
<br />contained In this Secwrty InsWument, or there is a legd proceeding that may significantly affect Lender's rights In the
<br />Property (such as a proceeding In benlvuptcy, probers, for condemnation or forfeiture or to artlotc@ laws or
<br />raggulatlorts), then Lender m aayy do and pay for whatever Is necessary to protect the value of the Property and Lender's
<br />rights In the Property. Lenders actions may include paying any sums secured by a Hen which has prierlty over this
<br />Security Inatrurnwit, aMmrkV in court, paying reaswtable artorneys' fats and entering on the Property to make
<br />repairs. Although Lender may take action tinder this paragraph 7, Lender does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by
<br />this Security Instrument. Unless smrovw and Lender agree to other terms of payment, these amounts shall bear
<br />interest from the date of dlabursemont at the Note rah and shall be payable, with Interest, upon notice from Lender to
<br />Borrower reque6ting paymern.
<br />L Mortgage, Inamnes. if Lender raqulrad mortgage Insurance as a condition of making the loan secured by this
<br />Security htstrtxnent. laorrowar shall pay the premiums required to maintain the mortgage Insurance in effect. If, for any
<br />reason, the mongap Insurance coverage roquked by Lender lapses or osases to be in offaot, Borrower shall pay the
<br />premiums required to obtain cove►ags Substantially equh 9M to the mortgage insurance previously in effect, at a cost
<br />substandapy equivalent to the coat to Borrower of the nwrtgags Insurance previously in efface, from an alternate
<br />mortgage Insurer approved by Lender. 9WAstantlety equivalent mortgage Insurance coverage Is not available.
<br />Borrower shall pay to Lender each month a sum equal to one - twelfth of the yearly mortgage insurance premium being
<br />paid by Borrower when the insurance coverage lapsed or Mead to be in effect Lender will accept, use and retain these
<br />payments as a loss resenre In Ileu of rr+ortpage insurance. loss teserva payments may Ma longer bs required, at the
<br />option d bander, Jf Nn gage insLrrance coverage tin the amount and for the periods that Lender requires) provided by
<br />an insurer approved Landaragaln beoomesavaitable and is obtained. Borrwver shall pay the premiums required to
<br />maintain mortgage rance In Aect, or to provide a loss reserve, until the requirement for mortgage Insurance ends
<br />►n aeco wca wge wdltert agroonssnt beMreen Borrower and Lender ter applicable law,
<br />L Inspection. Lender or lts agent may make reasonable entries upon and Inspections of the Property. Lender
<br />shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the Inspection.
<br />AIMASK"IN61.6 FAIIILY-FIM1A/FNLMO rNrFMM INEM MENT rowtA 3M
<br />ISC/CMDTNr4j0? a/9Q110 . 4. ME5OFa
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