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<br /> 3. Hu�rd o� Prope�ty Insurnnce. Bonower shall keep the improveinents now existing on c�rcufter erected on thc
<br /> . Property Insured agulnst loss by 8re, hnznrds lncluded within the terrn `extended covern�e"und any ather hnzurdR, inetuding
<br /> flaods or floodinB. for which i.ender requires insurnnce. This lnsurance ahall be maintafned In the umounts and for the perlads .
<br /> thnt I.ender requires. The tnsurAnce carrier providing the insurance shall bc cho3en by Barrower subJect to i.ender's approvnl
<br /> which shall not be unrensonably withheld. if Horrowcr fnils to maintain coverage described above, Lender mny, ut l.ender's
<br /> option, abiuin coveragc to protect l.ender's rights in the Property !n accordnnce with paragraph 7.
<br /> . All insurance polleies and renew�la shull be acceptable to l.ender and shall inciude a stundurd mongage clause. Lerider
<br /> shull have the dght to hoid the policies and renewals. If Lender requires,Bonower shall promptly give to I.ender ull eeceipts of -
<br /> � paid premlums und renewai notices.In the event of losa, Bonower shN1 Qive prompt natice to the insurance carrler and Lend�r,
<br /> �-–�' Lender rnay make proof of loss if not made promptly by Sorrower.
<br /> Unleas Lender and 8orrower othenvise agrce ln wdting,insurance pracceds shall be applied to restoraciun or repair of chc �,�
<br /> Property dameged.tf the restoration or repair!s economicaliy feasible and Lt:nder's security is not lessened. If thc reseoration ar
<br /> repsir is not economieally feasible or l.ender's securiry would bs lessened, the lnsurance proceeds shail be apptieci to the sums t�,..,
<br /> � secured by tbia Secuciry Insuument, whether or not then due, with any excess paid to Borrower. If Bonowcr abnndons the
<br /> �� Property,or does not answer wtthin 30 days a notice from l.ender that ttie insurance carrier has offered to settle a claim,then ,
<br /> i.ender may col2ect the insuraace proceeds. Lender may use the proceeds to repair or restore thc Property or to pny sums �'.,�,
<br /> � secured by this Secwity Instruraent,whether or not then due.The 30•day period wiU begin when the aotice is given.
<br /> • Unlesa Lender and Boaower o�herwise agree in writing, any appltcation of proceeds to pdncipal shall nat extend or
<br />'. postpone ihe due date of the monthly paymenta rcferred to in paragrapha 1 aad 2 or chaa�e the amount of the payments. If
<br /> .. �� under pategraph 21 the Property is acquired by I.ender, Borrower's tight to any insurance policies and proceeds resulting from
<br /> , ; damage to the Praperty prlor to the acquisition shall pasa to Lender to the extent of the sums secured by this Secudty Instrument
<br /> •� immediately pdor to the acqulsltion. �
<br /> 6. Occupancy, Prese►�atton. Maintenuace and PratecUan oP the Property; 8orrower's Loan Application; �.,.-
<br /> � Leaseholds. Bonower shall occupy,establish,and use che Property as Borcower's principal residence within sixty days aRer the �,�,�
<br /> • '� � exe�cution of thls Securtty Instnunent and shall contiaue to occupy the Propercy as Borrower's pr�nclpal residence for at least ona �rh
<br /> � year afser the daccs of occupancy. unless L,ender otherwise agrees in wrldng. which consent shall not be unreasonably withheld, �_.
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<br /> �� �, or unless extenuati�g circumstances exist which are beyond Borrower's contml. Borro�vcr shall not destroy, damage or lmpair —_
<br /> ' .���.`•, the Propecty.allow tlie Property to detedorxte, or commlt waste on the Property.Borrower shaq be in default If any forfeiture �
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<br /> '''';''; action or proceeding.whether civil or crimiaal, !s bcgun that in Lsnder's�ood faith Judgment could result in forfettwe af the
<br /> _ ��' �_ = pm�rry er eeherwise materIally impair the lien creste�by this Security Inatn�ment or I.ender s secudty interest. Borrower may _.-_
<br /> - � � cure ench a default and retastate,as provided in paragraph 18,by causing the action or proceedMg to be dismissed wtm a ruting _
<br /> � " � that, in Lendor's good faith deterniiaation. precludes forfeicura of the Borrower's interest in the Property or other mnterlal __
<br /> •, "" Y; impuirment of the lien created by cttis Securiry Instrument or Lender's aecurlty interest. Barrower shall also be in default lf
<br /> Bonower,dudng the l�an application process,gnve matedally fatse or ina�curate informetion or statements to Lender(or failed
<br /> ' � J ", to Qrovide Lender w[[h any matecial informadon)ia conncction with che toEn evidenced by the Note,ineluding,but not Ilmised ___
<br /> �� to,representations conceming Borrower's occupancy of the Properry as a principal residence. lf this Secudty Instrument!s on a -
<br /> �' �� leasehold, Bocrower ahall comply with all the prov[stons of the lease. Qf Bonower acquirea fee title to the Property. the �-_
<br /> , " leasehold and the fee title shall aot merge unless Lender agrees to the merger in writiag. '_•.=
<br /> � R 7_Prot�xtton o!I.ende�'A ItlQhta in tho Property.If Borrowcr faile ta perform the covenants and.agreementa wntained in `���-`
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<br /> this Secudty Instnunent.or there is a legnl proccedtng thac may signiflca�ntly affect I.eader's righta in the Property(such as a
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<br /> . proceediag in bankcuptcy,pmbate,for condemnatlon vr forEeiture or to enforce laws or regulations), then Ixnder raay do and
<br /> � pay for ahatever la necessary to protect the value of the Property and Lender's rights In the Property.L,ettder's actions mny _
<br /> -'''�•�:= � tticlude paying uny sums secured by a lien whicb has priority over this Sesurity Insuumeat. appearing in wurt, paying =--
<br /> � "��;?�' �' reason�ble attorneys' fees attd enteriag on the Property to make repairs.Althou�h L.ender may take actIon w�dcr this patagraph
<br /> 7.Lender dues nut hav�to do so. =
<br /> Aay amounta disbursed by Lender under th6s paragraph 7 ahall become additionat debt of Bormwer securcd by tdis w
<br /> , a.,. � Secudty Insttument. UNess Borrower und I.ender age+ee to other tcrms of payment. thesr.amounta shall bear interest from the e5""-
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<br /> • date of disburaement at the Note rate and shNi bo payable, with interest, upon notice from Ixnder to Borrower requestiag
<br /> ' payment �' °
<br /> � a.Atuvtgage Insurancc.If Lende�required mortgage inst►rance ns e condition of making the loan se�ured by this Secudry
<br /> instcurnent, Borrower shall pay the premiums requi►�ed to maiatain thc raortgage insuraace in effect. !f, for any reason� the �' .
<br /> • � mortgage insurance wverage requtced by Lender lapses or ceases to be in effect,Borrower ahall a the remfums re uiced to �'
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<br /> � obtatn �overage substantielly equivalent ro the mortgage insurar.+ce pSreviously in effect, at a cost substantially equtvatent to the '�'��
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<br /> ,�,. cost to Borcower of the mortgage insuraace prevfously in effect.&om an alternate murtgage tnsurer upproved by Lender. [f !:,_,
<br /> substandelty equivafent mortgage insucence coverage ia not available, Borrower shall pay to Lender each month a sum equal to F`- `
<br /> � one•twelflh of the yearly mortgagv insurance premium betng paid by Bomnwer when the insurance coverage lapsed or ceased to �;.,,
<br /> ' • b�in effect.Lender will accept,vse and ret�in these payments as a loss reserva fn lteu of cnort�age insurance. Loss reserve
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<br /> . form 8028 9180
<br /> (��681R£)�as�s�.oe VeDe 3 M 6 �Mimu.
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