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<br /> -�:� _-- -_� 93-�oss�s
<br /> S. H�sard or Prnprrty iwunuue. Sorrowu rludl kap the improvementr now exiulnQ or heroafter erecud on the
<br /> Pmperty inaurad a�aiiut losa by firo. hrxards includod wlthin the term "�ztended oover�e"and�ny other h�rardi. inciudia4 f
<br /> � floodr or floodinQ, for which Lcnder reyuircx insur�nce. 7'his i�surAnce siiaii bc mrinuu��xt i�i t�i��ii�wi�u�ir�i fur iiic�rfais
<br /> ttuu Lcnder roquins. The inwrunca carrier providing the insurance stwll be choren by Burrower�ubjxt to Lendcr'a approval
<br /> which etwll rwt be unrcasonably withhcld. If Borrowcr fails to maintain caveruge de�cribod+awve. L,ender may, u Ixnde�'s
<br /> option,abtain coverage ta prutect l.ender'�rights ln the Property in accardunce with puragraph 7.
<br /> All insurencx policies and renewals ctwil be�cccptable to Lender w�d ahall include a�tand�rd mort��e clauae. l.erder
<br /> — ahafl have the rlght to ix►id the�ticiuc and rcnewals.If Lender roquires.Borrower chall promptly give to[.ender dl r�xeipt�of
<br /> .�� paid premfums and renowal notjcxs.In the evcnt af loss.Bormwer stwll�tve prompt notice w the in�ut�nee c�rrfer and Ltndcr.
<br /> -' Lender may make proaf of loc�if not made prompNy by Borrower.
<br />=?��s., Unle�a I.ender and Borrower othenvise ngroe in wrhing.insurancc procceds shall 6e appliod to restoratton or rep�tr of the
<br /> _.— � Prope►ty damagod,if the restoration or repair is economically feasible and Lender's socurity fs not lersened. If the restora�lion or
<br /> �°`°' repair is not economically fcasiblc or Lcndcr's security would be lessened.the tnsurarue procoeds shall be applied to the sums
<br /> --����1�:ii���,� secured by this Security Instrument, whcther or not then due. with any excess paid to Borrower. if Borrower�bandons the
<br /> --���:�-:� Property,or does not answer within 30 duys a notice from Lender that the insurance carrier has offered to setde a claim.then
<br /> Lender may colloct the insurance proceeds. I.endar may use the praceeds to repair or restore the Property or to pay sums
<br /> �»� �.,'� securcd by this Security Instrument.whether or not then due.The 30-day period will begin when the notice ls givan.
<br /> � i,y
<br /> Unl¢ss [.ender and Borrower otherwiso agrea in we3tins, any application of praceeds to prtncipal ahall not extend or
<br /> --_— � postponc the duc dAte of the monthiy paymentx ��fci�c�l to in puragraphs 1 and Z or changc the amount af the payments. If
<br /> "' I�`a � under paragraph 21 the Property is acquirod by L.ender, Borrower's r�ght to any insurance policies and proceeds reaulting from
<br /> ;;��..- damagc ta thc Prope�ty prior to the ocqufsition shall pass ta Lendcr to the extent of the sums secqrod by this Securiry Instrurnent
<br /> ,..;,;•.:.� `w immediately prior ro the acquisttioi�.
<br />_-, ,, �, � b.Occupnncy,PreservAtion,Maintenance and P�ntection of the Property;Barrower's Loan Application;Le�etioldc. __
<br /> � 'vi "�.r-"' '� " Bonnwer shall occupy,establish,and use the Property as Horrower's principal residence within slxty days after the exceution af _
<br /> • . �'� ,' ; �,. , thia Security Instrument snd shall continue to accupy the Praperty as Borrower's principal res�dence for at leaat one year after -
<br /> �:� �'� '� � the date of occupancy. unless Lender otherwise agrees in writing, which consent shall not be um•easonably wtthheld.or unless
<br /> :�� ,�;y;��1;. eztenuating circumstances exist which are beyond Borrower's wntrol. Borrawer shall nat destroy, dart�age or impair the
<br /> �1 1��y�6,�t�i; Property,allow the Property to detcriorate. or commit waste on thc Property. Borrower shall be in de fau lt i f uny fo r fe iture
<br /> a►��^�;-���',=,-;"�:. action or proceeding, whether civil or criminel, is begun that M Lender's good faith judgment could result in forfeiture of the
<br /> r,'Atrr:.�'�n,.�•�;., property or otherwise materially impair the lien created by this Security Instrument or Lender's securlty interest.Borrower may
<br /> .�FAiql. .'.�-...' ' .�t�
<br /> °.�''�"' :' •��' '�,;� cure such a default and reinstote.as provided in paragraph 18,by causing the actian or pracceding to be dismissed with a ruling
<br /> ' �°�°-y' thst. in Lencler's gaod fa�th deserm4natiun, prerludec f��'r.itnre of the ii�rmwer'c interest in the Property or other matcdal
<br /> ':;=''�: .:,�,-�-aa--.—..
<br /> ,.:„.. • � impairnient of the lien creatal by this Securlty Instrument or I.ender's security interest. Borrower shall also be in default if
<br /> t`' ` ' Borrower,durfng the loan application process,guve materially fnlsc+or irwccurnte infomwtion or statements to L.ender(or failed
<br /> r,;,.,;;,. to provide Lender with any material inforn�ation)!n connection with the laan evidenced by the Note. inctuding,but not limited =
<br /> , ' � � to. representations concerning Borrower's occupancy of the Property as a principal residenee.If this Security Instrument is on a
<br /> ,- , leaschold, Bottower shrll comply with All the provisions of the lease. If Borrower acquires fee title to the Property. the _
<br /> ` leasehold and the fee title sh�ll not mcrge unl��ss L.ender agrees to the merger in writing.
<br /> " � 7.Protoction of I.ender's RiRhts in the Property.If Borrower fails to perform the covenants and agrcements contained in
<br /> - 1 � this Security Instrument, or there is a Icgal prcxeeding that may significantly affect Lender's rights in the Property tsuch as n
<br />?':+ +��i�`.�� `' ��� ���' proceeding in bankruptcy, probate, for condemnatinn or forfeiture or to enforce luws or regulations), then Lender may do and
<br /> ;��'•; E • pay for whatever is necessary to protect the value cif the Property and Lender's rights in the Praperty. Lender's actions muy -
<br /> .;. include paying any sums secureci by u lien which hus priority over this Security Instrument, uppe:►ring in court, paying
<br />.:���:'' ''• ' : ,� reasonable attorneys' fees and entering on thc Property to muke repairs. Although Lender muy take action undar this puragraph _
<br /> � 7, Lender daes nat havc to do sn.
<br /> � ; Any amountx disburseei hy Lender under this paragraph 7 shall hccome additionul debt af Borrower secured by this
<br /> `� � r � Security lnstrument. Unless Borrowcr nnd L.endcr ugrce to othcr term�of paymcnt,these umounts shull bcar interest from the _.
<br /> �� ., . date of disbursement ut the IVote rate and shall be puyublc, with interest, upon noticc from Lender to Borrower requesting
<br /> . ':":;<:� payment.
<br />,, �,�!,��,' 8. Mottgage Insurance. If'l.ender required mortgagc insurance a�u conditian nf making thc lonn secured by this Security
<br /> ,.•s,�ti�. . Instrument, Borrower shall pay thc prcmiumx rcquircd to muintain the mortguge insuruncc in eftect. If, far any reasan, the
<br /> ��'� mort a e insurs►nce covera e re uirai b Lender la u.ti or ceaxes to be in effect,Borrower shall a thc remiums re uired to
<br /> ,�.,, •^" 8 S s 4 Y P ' P Y p 9
<br />, �e�:'';� , . ` obtain coverugt sitbstantially equivelent to the mortsagc insurunce previously in cffect,at u cost substantiully equivalcnt to the
<br /> �,�_,. •,,,,�,�:. �.. cost to Borrower of the mortgagc insurunce prcviously in cftcct, from �n alt�rnute mortgage incurcr approved by I.ender. If
<br /> • �'• substantially equivalent mortgage inxurrnce coverage i�n��t availublc,Borcower shall pay to Lcnder cach month a sum equal co _.
<br /> � �' ��• '•:y � ene-twelfth of the yearlJ�mortgage insurancc prcmium being paiJ by Borrowcr when thc intiurancc coverage Istpted or ceased to
<br /> '��`�°`�` ' be jn efftct. l.ender witl accept,use and retain thcsc payment.as a loss rcservc in licu of mortgage insurance. Loss ceserve
<br /> �' . _ ._. .
<br /> �,��- �•. . Fam 3028 9190
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