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<br /> . 94-10i3x'7
<br /> S. ��wrd or prop�ty Ipiunnce. Bormwec�tull kap the improvementt now exittln� or hecc�fter eroctod on tbe
<br /> propenY inwrod a�irut la�by tire. h�ani�included wlthin the term 'exter�dod ooverago" and�ny cxher hwrds. irrludlna
<br /> floods or flaading. for which Lender roquim jnwr�noe. This insurance shall be miinudned in the unounts and far the perlods
<br /> that Leadtr royuirr,�. The i�uurance carrler providing the inwrance ahall be choren by Borcower cubject to[.ender's appravrl
<br /> which Khull not be unrc�sa�wbly withheld. If Borrower fails to m�intAin coverage descdbcd above. Lender may.at l,endu's
<br /> optlon.obtain coven�e to prutect Lender'�rf�htc in the Property in ncco►diutce with Ewragraph 7.
<br /> _- All insu�wnce policlea And renewals shall be acceptable to Le�xler�nd shall inelade a standord mort�a�e elouee. Lender
<br /> �twll hAVe thc ri�ht to hnld the policles and renew�ls.If Lc�ber roquiros.Borrower itwll promptly give to Lender a�l reafptr of
<br /> poid prcmiums and renewal notices.in the event of loss.Borrower�ftdl�ive prompt notice to the incurance c�rrIer u�d Lerder.
<br /> - Lender rrwy rtwlce proof of losw if not m�de prompdy by Borrower.
<br /> Unlesc Lender And Borrower otherwlse��ra in writing.insurance proceeds ehall bc appliod to restorwion or rr.pair of the
<br /> property danuged.if the restoration or r�epair is oconomically feasible and L.ender'a security is not leszenod.If the restoration or
<br /> rcpair is not economicaliy fwsible or l.ender's secudty would bo lessenod.the insurance proceeds shall be applied to the sums
<br /> � �� A securod by this Socurity Instrument, whcther or not then due, with Any excess paid to eorrowar. !f Borrowcr abandons the
<br /> propeRy, or daes not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a cfaim, then
<br /> Leruier may colloct the insurance proceats. I.ender may use the proceods to repair or restore the Property or to pay surt�s
<br /> securocl by this Security Instrument,whether or not then due.The 3(1-day pedad will begin when the notice is given.
<br /> ===���-.� Unless Ixnder And Bonowcr otherwise agree in w�iting, any application of procads to pdncipal shall not exund or
<br /> _ - — postpone thc duc dnte of the monthly payments refeRed to !n paragraphs 1 and 2 or change thc arnaunt of the payments.If
<br />- - under paragraph 21 the Property is acquired by Lxnder. Borrower's r�ght to any insurance palicies and procads resulting from _
<br /> C Y'"�`'` • �� damage to thc Property prior to the acquisition shall pass to l.ender to the extent af the sums secured by this Security Instrument
<br /> �:r..y..�,+-• �t.
<br /> ^� •'•r' immediately prior to the acquisition.
<br /> .��� ' 6.Occupancy,Preservation.Maintenance and Protection of t6e Property;Borrower's Loan Application;Les�seholds.
<br /> �,� ;; . �'.:�C:"..;.'�. Borrowcr sh�ll occu
<br /> py,cstablish,and usc the Property as Borcowcr's principal residcnce within sixty days after the execution of
<br /> • • ••� this Security Instrument and shull continue to accupy the Property as Borrower's principal residence for at least one year afier
<br /> �� .'• tt�e date of occupancy, unless Lender otherwise agrees in writing, which consent sh�ll not be unreasonably wIthheld. or unless
<br /> ...4• " extenuwting circumstances exist which are beyond Borrowcr's wntrol. Bonowcr shall not destroy, damage or impair the
<br /> ,l_. � , ••• �� Propeny, ullow the Property to deteriorate,or commit wuste on the Property. Borrower shall be in dcfault if any fodeiture
<br /> - actton ar prceecding, whether civil or criminal. is begun that in L.ender's good faith judgment could result in forfeiture of the
<br /> ' `•' Prapeny or otherwise m•rterially impair the lien created by this Security Instcument or Lender's security interest.Bonower may
<br /> cure such e default and reinstate,as pravided in paragraph 18,by causing tha action or proceeding to be dismissed with a ruling =_
<br /> that, in L.endcr's goad iaith determination. precludes forfeiturc of thc Borrower's intcrest in the Property or other matedal
<br /> impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> Borrawer,during thc loan upplication pracess,gave materially false or inaccurate inforrnatian or statcmcnts to Lender(or failai —
<br /> to provide Lender with any material information)in connection with the loun evidenced by the Note, including,but not limited k-�=
<br /> to, representations conceming B�rrower'x occupancy of the Property as a principal residence. If this Securiry Inswment ic on a �
<br /> fi_'"__'
<br /> • Ica+chold, Borrowcr shall comply with ull ihe provisions of the Ica.sc. If Borrower acquires fee title to the Propcny. the
<br /> leuxehold and the fee title shall not merge unless Lender agrces to the merger in writing. ""`
<br /> `• 7.ArotecNnn of Lender's Ri�hts in the Property. If&�rrowcr f:�ils to perform thc covenants and egrecments contained in �
<br /> �- �hi� Grurity Incimmrnt, or thrm ic a l�Enl prnceedinp th��t may significandy affect Lender's ri�thts in the Property (such us a �-
<br /> �•� pr�xeeding in bunkruptcy,probate,for condemnaticm or forfeiture ar to enforce luws or regulations), then Lender msiy do and =,
<br /> ,��. p•ry for whatever is necessary to protect the value of the Property and Leneier's rights in the Property. I.eneier's action� may �
<br /> inrlude paying any sumti recured by u lien which has priority over thi. Security Instrument, appearing in court, paying "
<br /> „ rc•r.onabic nttorncy�' fcc+und entering on the Property to make rcpairs. Although L,ender muy take uction under this paragraph �e.y
<br /> 7,L.cndcr dc�c+not havc to do�o. --
<br /> Any :+mount. dixhurticd by Lcndcr undcr this parugraph 7 ,hall becomc additional dcbt of Borrowcr sccured by this "
<br /> •• Scruriry In.trunxnt. Unlc�s &�rrower und l.ender ugrce to othcr trrms of payment, thesc amounts tihall bear interest from the �i:
<br /> dutr of di�hur.reiurnt ut the Notc ratc and shull be payablc, with intcrest, up�m notice fmm l.ender to Borrower requesting �
<br /> �1Jypklll.
<br /> 8. 1lfortg�Re inwr�nee.If IAnder reyuired mortgage intiur+nce as a condition of makin�;thF loan secured by thic Security
<br /> ln�trununt. ��rrowcr .hall pay thc prcmium+ rcyuireci tci maintain thc mnrtgage in.urunce in effcet. If, for any reason, thc �-`
<br /> nk►ngugc inmurunrc rovcragc rcyuircd by Lriulcr lapsc��ir cca.c.t��tx in cffcrt. Burrowcr xhull pay thc prcmiumti rcquired to �__
<br /> ��htuin ruveru�c+uh�tantiully eyuivulent to thc murtgugc in+uranre prcvioutily in effect, at a rost substuntiully eyuivalent to thc _
<br /> r���t tu liittrciwrr ul'Ihe tni�rtgagc inwranre prcviou+ly in cftcrt, frum an altcrnatc mortgagc imurer approved by Lendcr. [f
<br /> � ,uhtituntiully cyuivulcnt mortgagc imuranrc ruvcrsigc iti not •r�•ailahlc. Burcowrr+hall pay ta I.endrr carh m�mth u .um equal t�i
<br /> �nk•twrlt'tb��f thc yc�rly nu►rtgagc intiuranrr premium txing paiJ hy Burruu•rr whrn the in+uruncc cuvcragc lapscd or rca�cJ to
<br /> � he iu eflcrt. lAtxler wil)urrept, uu and ret:tin thc.c paymcntti ati a lu�ti rc,crve in licu ot� mi�rtgagC insurance. I.oss rcticrve
<br /> Porm 3028 9190
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