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<br /> ---4� - -- 94-102���
<br /> - - - _--= 5. tiazurd or �'mperty iasurnnce. l�orrower shall keep the Improvements now existing �n c�rcaftcr erected on the _
<br /> �"*��""�'�•'� Property insured nguinst lass by firc, heu�rds includcd wfthin thc tcrn� "cxtcndeJ cavcrubc" und uny othcr hnr.urcls, including �
<br /> -- flauds or iloodiag.far which l.cnder requires insuruncc. This insurancc c:hall bc maintuincd in thc umounts and for the periads --
<br /> • thut i.ender re�uire.c. The insurance curder providins th�insurance shull be chasen by 8arn�wer tiubject t�r lxnder's uppmval
<br /> _ __- -- wt�ich shall not be unreasonably withheld. If Barrower fails to maintuin cove�uge dcsrrfbed ubove, I.cndcr muy, ut I.cndcr's
<br /> _ ---_� opttan,obtein coverago to pmtect Lender'y riahtx in the Proper�y in uccordnnce with pnrngruph 7.
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<br /> — All insumnce policies and renewals shall be Arceptuble to Lender und tihall include n stundard mortg�ge cluuse. l.ender
<br /> �-� �- ---� shall huve the right to hold the poticies and renewais. If i.ender reyuirc.r•.&irrower shuit pmmptly givc w i.ec�der ull reccipts of
<br /> r puid prcmiums and renewal notices.In the event af lass. Bc�rrawer shull give pr��mpt notice to the insurunce carrler and I.ender. __
<br />- '• Lender may muke proaf of loss if not mnd�promptly by Borrawec.
<br /> Unless I.ender and Barrower othenvise agree in writing.insurunce proceeds shall be applied to rcstarnti�n or repni�af the
<br /> Property dama�ed.if the restaration or repuir is economicully fc�sible and l.ender's securfty ih not lea�ened.[f the restorntion or �==--
<br /> � tepair ts not cconomically feasible or Lender's security would be lessened,the insurunce pmceeds shnll be upplied to the sums ��'��--
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<br /> � secured by this Security Instrument, wfiether or not then due, with uny excess puid tu 8arrower. if Borrower nbandons the �`���--:`-- '
<br /> ' , . •� Property, or does not unswer wtthin 30 days a notice from L.ender that the insurance currier hac offered ro�ettle u claim. then �=�_�_ -.-�_
<br /> j • ti• Lender may collect the insurance proceecis. Lender may use the prcxeeds ai repuir or restum the Property or to pay sums -r
<br /> � �=_���ta�--�R
<br />� ���'�L,; r,ecured by this Securtty Instrument,whether or aat then due.The 30-day period will begin when thc notice is given. •••��^��•--�°-
<br /> � �!.i'�.;:�>�_-ti i« Unless Lender and Borrower otherwise agree in writing, any application af proccecis tu principal shall nat extend or ;� ; ���--
<br /> ... ��. rit� • � :{�_l r,�-.__'.
<br /> ��}'+� ;�,. postpone the due date af the monthly payments referred ro in parugcaphs I und 2 or change thc amount of thc payments. If = --
<br /> ,�:,��;=;�..�.���!�t;_ under a�a ra h 21 the Pro rt is ac uired b Lender, Barrower's ri ht ta nn insurance licies and roceeds t�.sultin from �`�"�5�'
<br /> P 5 P Pe Y q 9 S Y P� P � .G:.,��;�_ -
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<br /> � �-_-- �••�� � demege t�the Pmperty�+ri�r tn�hP no�niciti�n+�hnti rac��o i.nndc�r to rhe excent of the sumx seeured by this Seeurity[nstrument ' '• �
<br /> �.L,F��`Y''% ' ?�.a immediately prior to thc acquisitian. - - -
<br /> ' '� � � � � • 6.Occupancy,Preservation,Maintenance and Protectian of the Property;Barruwer's I.aan Appltcation;Leaseholds. �� ya:;,—
<br /> �s�,:��.��• %-,•-•'i'��a:' Boaow�r shnll accupy,establish, and use the Property as Borrower's principal residence within sixty days after the execution of ° ;-
<br /> � � �`y '' this Securiry Instrument and shali continue to occupy the Property us Bonawer's pr�ncipal residence for at least ane yeur aRer '� . y:—
<br /> �q.:';- � +, the date of occupuncy,unless Lcnder otherwise agrces in writins,which consent shall not be unr�asonnbly withheld,or un�ess � � -
<br /> -, extenuuting circumstances exist which ure beyond Borrower's control. Bottower shall not destroy, damage or impnir the • � T�
<br /> „ . Property. allow the Propeny to deteriorate, or cammit wnste on thc Pr�perty. Borrower shull bc in default if uny forfeiture � �,,.
<br /> " . action or praceeding. whether civil ur rrirninal.is begun thut in I.ender's gnod faith judgment coufd result in forFeiture of the �. ��'-
<br /> ,, ° . Properry or otherwise materially impair the lien created by this S��curity Instrument or I.ender's scxudry interest. 8onower may ,��'_"��
<br /> � ".• cure such u default and reinstate,as provided in paragraph l8,by causing the uction or pr�cecding to be dismissed with a rulin� -
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<br /> • • ' that, in L.ender's good:faith determination, prccludes forfeiture of the Bc►rrower's interest in thc Property or othcr material ---
<br /> impuirnmnt of the lien created by this Securiry Instrumcnt or I.ender's security interest. Bonower shall also be in default if ••-.�`;: _
<br /> • ' ° -� Bonower,during the loan application proccss,gave materiuUy false or inaccurnte infom�ation or statements to i.ender(or fuiled : �
<br /> � to provide L.ender with uny material information)in connection with the loan evidenced by the Note,including, but not limited °`
<br /> " ta,representations concerning Borruwer's occupancy of the Property as a principal residence. If this Security Instcument is on a , . —_
<br /> - - „ . , ir.aaciwid. Fwrruwer ,i�aii c�tupiy witi� uii �hr pcovi.iuu. ut thr iea�c. !f Butwwcr acyuire, ice: iilic iv ihr P►'.��i.y. .��:, �_� E_
<br /> ,, , leasehold and the fee title shall not mcrge unless Lender agrceti to thc mcrgcr in writin�. „�_f�-
<br /> �• � 7.Protection of I.ender's RtAhta in theP�operty. If&�rrower fuil+to perform the covenants snd agrec:ments contnined in 'U:y
<br />_ � • this Security[nstrument, or there is u Icgal proceeding that may xignificundy affcct I.ender's �ights in the Property (such as a �
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<br />_' � proceeding in bankntptcy,probatc, for condemnation or forfeiturc or tii enforcc laws or regulations),then[.endcr muy do and -_—
<br /> � pay for whute�er is necessary to protect thc v:�luc of the Property and [.endc�s rigl�ts in the Pmpeny. Lender'ti uctions muy -i-�.,;.•..
<br /> y ! . , include paying nny sums secured by a lien which has priority over this Securiry Instrument, appearin� in court, p:�ytng � ''�=�
<br /> • reasonable attornc .s' fces and entcrin on thc Pm rt to makc re sirs. Alth�w�h Lendcr ma wkc ucticm undcr thi� aru ru h -`��' -
<br /> Y 8 P� Y P L Y P' � P . - :
<br /> ' � � � 7.Le�der docs not have to do u�. , •-•.�:,-•:
<br /> r �. ., � Any amounts disbuned by L.endcr under this parA�ruph 7 shall hcromc additional debt of Rormwer ti��u�cd by this „ T:
<br /> � Securiry Instrument. Unless Borrower und L.endcr n�rcc to uthcr tcrm+of paymcnt, thc+e amounts .hal! bcur intcrc+t from thc
<br /> date of disbursement at the Note rate and shall bc paytible, with imcre.t, up�m notice from [.�nder ti� B�ROwcr reque�tin� • "', �,''.�
<br /> . payment.
<br /> � �' •�� �� 8.11Rortga�e fnsurance.If L.ender required monga�e intiurance a,u conditiun c�f makin�; the I��an tiecured hy thi�Srrurity .
<br /> , Instrument. Borrower shull pay the premium� reyuirecl ro maintain the mong��;e inzurunce in effect. Tf, f'or any rca+on, the ` �
<br /> . mortgage in�urancc coversge reyuircd by L.enJcr lap.c.��r retiscti t��hc in cifcct, &�rrowrr.hull pay the premium. rcquircd to , •
<br /> �` obtain mveruge substantiully equivalcnt to thc murtEagc imuruncc prcviuusly in effcct,at u ra�t+ubtitantially cyuivaient to the "
<br /> ¢ost to Bdrrower of thc mottgu�e insurance prcviou�ly in effcrt, fr�im ;m altcrnatc murtgage inwrcr appn�vaf by Lendcr. ff'
<br /> . � ,. substantiully cquivalcnt mongage intiurance cnver�gc i.n�it availahlc.Bormwcr,hall pay tu I�nd�r carh nx�nlh a�um equal tu
<br /> , , ' , onc-twclfth of thc ycarly moRgagc insuranrc prcmium hcin�paid My B��rr��w•cr w•hcn thc in+uraixr ra�•cragc lapticd or ccascd to �
<br /> _ � � be in effect.Lender will accept,u�e and retain ihetic payment�a� �1��.� retien�c in licu at' mungu�!c imuruncr. i.u., reurvc I
<br /> Form 3028 9�90 �
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