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� . J�N.25.1999 11�z5AM N RMERICAN MTG 5TL 9 9 1 0 s 5 9� N0.�60 P.25
<br /> � 5, Hazard or pxoperty Ynsuraacc. �rrowcr sP�sll keep the improvementa now ezisUi;ng or hereafter erected o�
<br /> , the Fropert�insured against lase�by fire,hazards ie,cluded within tha tsrm "extanded oove�a�e" s.nd et�►other hazards,
<br /> � iueludin�flvods or flooding, for which Lander requirem insurauoe. This insurance aE�al� be mnintained in the amounts
<br /> and for the perioda that Let�der x'equiz'es. The insurance carrier providitkg tho islsursnce shall be ehosen by Botzo�var
<br /> subject to Lender's approval which eha11 ssot be unreasonablp withheld.Yf�or�ower fails to maintain coverage described
<br /> above, Leuder ma�, at Lender s optiou, obtairi ooverage to Qrotect Lender's rights xn the Proper�in accordancc wit�
<br /> pnragrapY,7.
<br /> All insurance polieies and renawsls shsll be acceptable to Y.ender aad sha11 include a standard mort�age clause.
<br /> Lender shall hstr►e the right to hald the palicies az�d �lenvals. If Lender requires, Horrower ehall promptly give tia
<br /> Lettdex a�l xeoe4pts af paid premiums and renewal notioea.Iz�the ev�nt of loss,Bormwer shall gxve prampt notice to the
<br /> insuraaae carrier and I,e�der.Leadrs may malce groof of lose if�at rn.�de promptly by Borrower,
<br /> U�I�e Tr4uder and Bonower otherw�ae agree ia w�titing,islsurance proceads shalI be applied ta restoration or rep�ir
<br /> oi the Prop�rtp d�snaged,if the restoration or zepair is ecdnomically f�asible amd X,cnd�r's securitp is�t leasened,X�th�
<br /> redtorat�o�or rtpair is not economically fea�ibls or Lande�'s sectirity would be lepsened,the insurance proceeds 5h�11 be
<br /> ' applied to the�ums aecured by this Security Ys�stz�um�t,w+hether or not then due, with any e�cess paid to Borrower.If
<br /> Sorrawes�abaadoaa the Pmperty,nr does not arrawer within 30 days a noticc from L�dcx��hat the insurance ear�ier hss
<br /> offered to settle a claim, thal Lender rrxay collect the x�suxstice proceeds. L,ender may u�the proceeds ta repaix ox
<br /> restore the Property o�r to pay sums secured by this Security Irastxumont,whether or not then due.T1xe 30'daq period will
<br /> begia when the notice ia g[ven.
<br /> UnIesa Lender and$orrower ot�erwise agroe in writin�,any applicatioxl of pa�oceeds to principal shall�0.ot extend or
<br /> postpozae tkie due date of the monthly�apmcats raferrcd to�n puagraphe 1 and 2 or eb�az�ga the amount of the paytileslts.
<br /> If undsr paragrapki 21 the Ptoperty is acquired by Lendex, �orrq'aver's ri�ht to aay ineu�sACe �olicies and proceeds
<br /> resvlting from damaga to the Prpperty prior tio the acquisitian sball pass ta Lender to the exttnt of tb,e sums secured by
<br /> thia Security Iastrument itxxmedietely ptiOr b0 the acquiaition.
<br /> 6. Occupsucy,Frc�orvation, Maintensnce aad�rotsction of ihe Pro�erty; Harrawcr's Loea Applicatioa;
<br /> Leasehpld�. Borrower shall ocoupy,establish,and use the k�ro�erty aa Horrowcr's principal residence 9vithin aixty days
<br /> after the e�ecutiom o# this Security Instrument snd shsll coatiaue to occupy the Prapexty as Sorrower's principal
<br /> re8ideace�or at least one pear after the date oi occupatse�,uuless Lender otherwise agrees in w�ritii►g,which consent eb,all
<br /> not be unxeaeo�oably rvittiheld,or unless extenuatiag e�reumatanaas eaist which ar�beyoz�d Borrowe�s control,Borxower
<br /> shall nat deatrop,dam�ge or impa,ir the Property, a�low t,�o Property to deteriorate,o�commit wasce on tha Prope,rtp,
<br /> Borrower stiall be in defauat if Any forleiture actioa or prpceedit�$,whether civil ar erimiaal, is begtxn that in Lender's
<br /> good falth jvdgmeat could reeult;s� fotfeiture of the Property or otherw'ise materially impair the lien created by this
<br /> Security Inatrument or Lender'e securi�ty inbcrest. Borrowor may ctuce such a default and reinatate, as prvvided iu
<br /> psrsgra�h �8, by causing t�he action or proceedisxg ta be dismissed with s reilis� that, in Lender's good faith
<br /> determination,precludes�or�e4ture of the Sorrower"s interast ix�the Pruperty or other material im�airmcnt of the lien
<br /> creatad by this Seeu�ty Ine'4ument or Leader's security i�terest.BorroWCr shall also bs iz�default if $orrower, duri;ag
<br /> the loan applicatioa process, gave materially false or inaccurate information or statemeats bo L.et�der (or failed ta
<br /> provide Lender with any maberisl iaformation) in conaeatio� with the loen evidenced by the Note, including, but not
<br /> limited to, representa�ioz�s conoeocniag Borrower's occu�at�cy of the Property as a priz�cipEl residence. If this Secu�,ty
<br /> Instrument ia oa a leasebwld,Borrower s,Eiall comply with all the pror►isions o�the lease.If Borrower evquires fee title to
<br /> the Fraperty,the lea�ehold aad the fee titla ahall not mex�re unless Lender agrees to t�xe merger in writing.
<br /> 7, Protection of Lender's Ri�hts ia tha Property.If Borrower faila to pet�orm the covenants and agteements
<br /> contained in thie$ocuritp Instrument,or there is a legal procceding that may�i�tl�fieantly affect Lender's rights i�1 the
<br /> Property {suc� as a proceeding �n bankruptoy, �robate� far condemnation or forfeiture or to exitorce la�vs or
<br /> re�ulations),th�Lendar map do snd pay for whntever i�necessary to protect the v�lua of the Property aad �der's
<br /> rights in tha Propertq. I.ender's actions may include payi�.g aay sums secured by a lie� �hich Iias priority over thie
<br /> 5�curit}►In�trument,appearisig i�oourt,psqing reasonable attoxnoys'fees and entering oa the Property to make repsirs.
<br /> Althoueh Le�xdd�map take action undar thia paragraph 7,Lender daea riot ha've to do�o.
<br /> Any amou�ts disbursed by Lender under this paragraph 7 shall become additionat debt of�oxrower secured by this
<br /> Security Instrumesat,Unless Borrower sud I.e�der agree to othar terme o�payment, theee amouete ehall bea,r interest
<br /> from the date of d�bUrsamdnt at the Nots rate and sha11 be payable,with it�te�st,upan notice frot�Lcnder to Barrower
<br /> requestiag paymaut.
<br /> 8. Mortgage Insuraace. If La�der required morCga,ge ia�w�ance as a conditioa of malring the loan�ecur�d by this
<br /> Security Instru�erit,8orrower shall pay the premiuma required to s�aintt►iu tho mortgaga i�sttra�ace in effect.It,!ox any*
<br /> rCason, the mortgage i�uranae caverage nquircd by Lender lapses or oease� to 'be fn effect, BqYiower sha11 pay the
<br /> prexaiums required ta obteia ooverage sabstantislly equivalent to the mortga�insurence previously in ePfect,at s cost
<br /> subetaatislly eqtrivalent to the cost tp Borrower of tha z�os�tgaEe inaurazsce previoutl� in effect, from �u alternate
<br /> mortgage insurer a�oved by Leader, If eubstantielly equivalcnt �drtgage insurancc coverage ie not available�
<br /> Horrvwer shall p�y to Lander each month a aum equa�tp one`twelfth of the pearly mortgage i�a�nce premium being
<br /> �sid by Borrower wh�a the insurranee coverage lapsed or ceased m be in effeot.Lender wi11 acxspt,use and ret$in these
<br /> pay�nants as a loss reserve iA Lieu of mart�aga it�surance. Loss r�erve pay�klents may no longar be required,
<br /> Farm 3q 8 0
<br /> �—BHM�I�of09k01 Poeo 2 or 6 �hitjalai
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