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<br /> •' S. Hatard or Property Ineurtnce.Barrowar ehalt kecp the improvemante noa existing ar herentter orcatsd on
<br /> - the Property inaured a�ainet lASe by tiro.hnzatda inoluded within the term"extended coverage"and eny other hazarde,
<br /> � inoiuding flaoda or ilooding,for which I.ondat requices �nsurance.This ineurance ehetl be tnainteined in tha amounta �.�=-=-,r�,__�_.
<br /> end for thn perioda that Lender requlrea.l he inaurance carrtor provIding the insurance shall be ohosen by Borrower �_�_�
<br /> subjeat to Leadat's appmv�l whiah ahelt not be unreaeonably althheld.Ii Borrower fails w matntein coverage descrtbed
<br /> ;= above,I.ander mey�at Lond�or'e optton,obtain covara�e to proteot I.ender'e righte in the Property in accordance with . _...:- -�-- -
<br /> ph 7, —
<br /> '�� ��All tnsivanoe poltaiae and renewa�e shsll be�cceptable to Lender snd ehell inaludo e atandard mortReRe olause. _ __.
<br /> `�� °"`""''������ I.ender shaQ have the rlght w hold th�policJes and rcnewale. It Lender tequires, Bonoaer ahsll promptly gtve to ,��T �;�r,��-
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<br /> �, Lender a11 raxipts ofp�d premiums and renewal notiocs.In the event of lass�Horrower ahalt gtve prompt notIca to tho � _ `
<br /> � ;,�'��:G.; tnsunnce cerrier end�ender.Lender may make proof ni loss It not made promptly by Borrower. F:;��;__.�.._
<br /> . .;;:�. .
<br /> �w.; • +�� Unlcss Lender and Harrower othcralse agree in wdting,tnsurance pro c e e d e s h e l l b e epp l l e d t o r e s t ora don or repa ir K-_- :�
<br /> ; ,,ri;; ,;�".•�,� ,'�%;:� of the Property dameged�!f the reswrsdon or repnir ts economically feaslblo and Lender's soaurtty ie not lessened.If tha " Y ___
<br /> � �.�� r e s t o r a t i o n o r r epa t r i e�o t e c o n o m t c a l l y f e a s I b l e o r I.e nder's seauri ty would ba lessened,the insutanco proceeda shall ba " ��
<br /> y�_. �,.: ' � applied w the sums seaured by thie Se�udty lnstrument.whether or not then due.witi�any excess paid to Borrower.Ii ;' `=`�s���
<br /> Y�`�;,L:
<br /> ,,j�� ,� . , � Borroaer abandona the Pro .° ,•�-�_-
<br /> ,. perty.or doea not answer wItl�ia 30 days a notice from I..endet that the inaurance oarrier has � ` �k: �����`____
<br /> oifered to settlo a olaim.then Lender may colleot the insuranca proceeda.Let►der may use the proceeds to repair or ,:`;;���� �"r=��
<br /> , �4,�'. . . .. .4., ., .?:.�_���'�.,.
<br /> �� reswre the Property or to pay euma seaured by this Securlty Instrumant,whather or nat thon due.?'he 30-day parIod will , ..,,.;�,�,;,�t�;.., s-
<br />� '� � .. ,. begin when tha notice ia glven. , ', �s
<br /> . ; . Unlesa Lender and Borrower otherwisa agrea in wdting,any appliaation of proceeds to prIndpal shall not axtend or . ,�r ._ �
<br /> ,, ' � postpone tha due data of tha monthly paymente refetted to in pacagraphs 1 and 2 or ahenga the amount of thapayments. " � ��
<br /> �, I i undar h 21 the Pto ia s uired b L.eadar, Borrower's r I ht W an insurance licica and roce�ds , _ _"'_�'"°�
<br /> P�B�P P�Y � «I Y 8 Y P� P -�•
<br /> f . � reau1tlag from damaga to the Property prior to the acquisItton ahall pass to Lendar to tha extent of tho sums seaured by , ,. ,_���;,:.._ ,
<br /> , � 2his Seaurlty Instrument immediately�rlor to the acquisition. „� �"' „ --
<br /> � ��`—��—'� ti.ucc�pancy.greservatioa,ivta�ntea�ace and Proteciion oi ihe Froporty; Burrowor s Loon i�ppJication;
<br /> � Leaseholds.Bonower ahell occupy,establish,and use the Proparty as Borrower's prInc ipal r e a ldenca w tt h in e txty d ays �� � . �` ��� ;
<br /> . after the axecutton of thie Seaurity Inatrument end ahall conttnua to occupy the Property es Borrower's pr�ncipal . . ;.,�.� �-
<br /> '' � residenca for at least ona year aiter the date of occupancy,unlesa I.endar otherwisa agrees ia writtng,whtoh consent ahall ' '•;�,.�'-�,-
<br /> not ba unreasonably aithheld,or unlese extenueting cIroumstances exist which ara beyond Horrower's control.Borrower .
<br /> " � • :�. shall not deatroy,damage or tmpair tha Property,allow the Property to deteriorate,or commit weste on tha Property. '�`� '
<br /> - . , be i default ii an forfaiture action or roceedin ,whether civil or criminal,is begun that in Lender's , ,� -i�_
<br /> � Borrower shall n y p � ,
<br /> gaod iatth judgment could result tn fortetture of the Property or otherwise materIally impatr tha lien created by this , • i�,r,,;'�``_
<br /> . ' �� • 5ecurity �natrument or Lender's securIty interest. Botrower may cure auch a default and reinstate. ae provided in : �., ,, !��
<br /> � � paragceph 18, by causing tha aation or proceeding to be dismissed with a ruling that, in Lender's good faith
<br /> _._ _,._______ determination,precludes forfeiture of the Bonowet's interest in tha Property or other matetIal impeirment of the lien ____ . ����'�' T
<br /> created by thie Seourity Instrumentor L.ender's se�urity interest. Borrower shall also be in default if Borcower,during -- , •
<br /> • the laan application process,gave matetially false or inaccurate in4ormation or statamenta to Le�tder (or failed to
<br /> „ � provide Lander with any materIal Information)in connection with the loan evidenced by the Note,including, but not '•
<br /> Itmited to,tepreseatationa concerning Bonowar's occupeacy ot the I'roperty as a principal reaidence. If this Security �
<br /> Instrument ison a leasehold.Bonower shall comply with all the pmviaions of the lease.If Borrower ecquires fee title to �•�� �t. "��`
<br /> +� � the Proparty.the leasehold and the fee titleshall not merge unlesa Lender agrees to tha merger in�vriting. °��
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<br /> - ° -� � 7. Protectioa of Landar'a Rigbts in she Froperty. If Borrower faiis tu perfurm l}iv cuvar�anta a�id agre�mc�iin ,:
<br /> � contained in this Security Instrument,or thera is a legal proceeding that may sign�ficantly affect I.ender's rights in the � T�'�
<br />�'- , . Property (such as a proceeding in bankruptcy, probate, 4or condemnatlon or forfeiture or to eniorce laws or ,
<br /> regulations),then Lender may do and pay for whatever ia necessery to protect the value of the Property and 1.ender's . ''
<br />;; righte in the Propetty. Lender's actiona may include paying any aums secured by a lien which has priority over this .. �`� @,
<br /> j Se�urIty Inatrument�appearing in wurt,paying reasanable attorneys fees and enter►ng on the Property to make repaira. ' J;�.��
<br /> Although Lender may take action under thia paragraph 7,Lender does not have to do so. • .�
<br /> •YA% . �
<br /> ` Any amaunts disbus�sed by Lender under this paragraph 7 shall become a d ditiona l de bt o i B orrower secnc e d by t his , '
<br /> �— Se�urity Inatrument.Unless Borrower and Lender agree to other terma of puyment, these amounts shall bear interest ` ' -. �s
<br /> from the date o4 disbursement at the Note rate and shall be payable,with interest,upon notice fram T.ender to Borrower I .
<br />- ' - . reque�dng Puyment. : '`-�
<br /> 8. Mortgege Inaurance. I4 Lender required mortgage insurance as a condition of making the loan secured by this � . �•
<br /> � Secur(ty Instrument,Borrower shatl pay the premiums required to maintain the mortgage insurance in effect.If,for any ;. . •�.r^
<br /> . � ,.,,. reason, the mortgage insurance coverage required by Lender lapses or ceases to be �n effect, Borrower shall pay the � �
<br /> premiume required to obtain coverege substantially equivalent to the mortgage insurance previausly in etiect,at a cost ;
<br /> ' � substantialty equivalent to the cost to Borrower o4 the mortgage insurance previously in citect, from an alternate i -
<br />_ ' • mortgage insurer approved by Lender. If substantialiy equivalent mortgage insurance coverage is not availabla, � .�,`
<br /> . Bonower shall pay to Lender each month a sum equal to one-tweltth of the yearly mortgage insurance premium being I
<br /> ;, paid by Borrower Nhen the insurance coverage lapsed or ceased to be in efiect.I.ender will accept,use and retain these �'`.
<br /> � payments as a loss reserve in lieu of mortgage insurance. L,oss reserve payments may no longer be required, •� ,
<br /> ti,
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<br /> Form 3028 9/90
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