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<br /> ---� S. H�a�rd or Proparty Iaeuraaco. Borrower ehep kbep che improvementa ow exieting or herea tcr o or ______
<br /> tha Peoperty inaured againot las.v by tlro,hezerde included�Jithin tha term"extended caverege"and any other hazerds, ��.,�„�,�w_
<br /> _ ,��f� inoludtng tloods ar tlaoding,tar which Lander requires ineuranco.Thie Insurance ehafl be mai�tsined in the emaunts ___
<br /> end tQr the periade th�t Lender requiraq.The insua►nce oarrler provfding the insuronce shell ba ahosen by Horrower
<br /> , subjoat w Lender'e approvai whieh ehaQ not ba unre�ably wtehhold,if Borrawor ieile ta meintein wverago desaribed -
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<br /> � * above,Lender may.at I.endAr's aption,obtetn covera�o to prot�ot I.ender's rights in the Property in accordence with
<br /> ° . pen�raph 7. -- -_ _v
<br /> , •'" "` All inauraece poliaies and renewale shatl be accapmble w l.endar and ef�all inolude a stendard mortgage alausa,
<br /> - •W �..... .. ... ..
<br /> '� �� �:��:' �; Lender eh�li have the rl ht to hold the policiea and renewals. If Lor�derrequires� Boe`ower ehaii promptty glvo tc� �„:_ _ -
<br /> '..� , r....<,:;,;�•.��'�' Lender s!I ceceipte otpet�premtums snd nnew�l notic.es.In the event oi loss,Borcower shall give prompt notice to the - -__Y__
<br /> ; • . - ; insurenca catrter and Lender.Landor may meke proof oi loss if not mnda promptly by Borrower. Y-=;�;;,;�,_r-,..�_.
<br /> :�, .�;,�� . � , � Unless Lender and Borraaer otherwise egree in wrIting,inaurance proceeds ehall be applied to eeataretion or repair •.�s i�;,�_
<br /> ' ot the Property damage�,if the�eotoratIon or npe{r is a:onomtcally feasible and I..ender's seaurIty is not lessened.Itehe 't''�;F��:___
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<br /> � re.qtoration or ropair is not economically teaslble or Lander's securtty would be lessaned.the inaurance proceeda ahal!be ,_�_�,��:.___
<br /> �� : - appl�ed to the sums secured by thie Seaurity Inatrument,whather or not then due.aith sny exces�patd to Bonowet.It . :'Y�;;��.�:_,;,,, _
<br /> � � Horroaer abandons the Ptopercy.or dces not answet withln 30 days a nottce from Lender that tha tnaurenca catt�ter has
<br /> tr ` � ' ottered to settle a elaim�then Lender may collect tha insuranca proceeda. Ler►der may i�so the proc�eds to repair or � '�����,,,�,';;-
<br /> restoro the Property or to pay surna secured by this Security Instrument.whethar or not then due.The 30'day partod wtll �''""��• ' ",�;at`��'�r,':°-
<br /> ,�.. . „ begin when the nottce is gIven. � �.:, �,L���,��-.
<br /> ` " Unless Lender and Borrower otherwise agree in wrlting�any appllcatlon ot proceeda to prtncipal ahall not extend or , -�+��u
<br /> � � �. � postpone the dua data ot the monthly paymonts roferred to in paragraphs 1 and 2 or ehaage the umount oi the paymcnts. , '���"'�
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<br /> . Ii under poragreph 21 the PmpertY is acquired by I.ender� aorrawet's right to eay insurance poliates and proceeds ,-:.",-.s�•-
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<br /> -- � -�-____-_- rasuiii�ig iro,�►damagc to Lhe Pmperty prlor to the a�q�,i�it;�n ahe11�tc�1.ander to tha extent of the auma secured by '___ _'_'-�-=_y v_
<br /> , this Secuelty Instrument Immediately prior to the acquisttton. ��:-,�--.
<br /> 6.Occupaaay.Preservattoa. Msintenauce and Proteotloa of tho Ptoperty;Borrower's I.oaa Appllcetton; -,;;_ �_
<br /> Leaseholds.Horrower shall occupy,establish,and use the Property as Borrower's principal restdence within s�xty days " •��=Y
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<br /> . atter tha executton of this Security Instrument and shall conttnue to occupy tha Property as Borrawer s ptinclpal , ,_ _
<br /> � � r e s i d e n c e f o r a t t e a s t o n e y e a r e f t e r t h a d a t e o f o c c u p a n c y,u n l e s s L e r►d e r otherwise a g r e e s in writin g,which consant shall . �.._���
<br /> . not ba unreasonably wlthheld.or unle�axtenuating ciroumstances exiat ahtch are beyond Bonower's coatroL Borrower —
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<br /> � ehali not destroy,damage or impair the Property.ailow the Property to datariorate,or commtt weste on tha Propecty. �� _
<br /> � Horrower ahall be in default if any forPeIture actton or proceeding,whether civll or crimtnal,!s begun that In I.ender's '�:' +
<br /> good faith judgment could result in torfeiture of the Property or otherwIse materially impair the lten created by this ?;��
<br /> ., '� Security Inatrument or Lender's secudty interest. Borcower may cure such a default and reinatate. es provided in �: ::
<br /> _ �_____ _-._.__ paragraph 18, by causing tho actton or proceeding to be dismissed with a r�ding that, in Lender's goai fatth _ _ � ���•
<br /> datermirtatlon recludes iorfaiture of the Borrower's interest in the Property or other mauriai impairmor►t�t iha tien - "��� ^.
<br /> created by this Security Inetrument or L.ender's securIty intereat.Bonocver shatl also be in default if Borrower,during � . � •
<br /> the loan appltcation process,gave materially false or inaccurats informatlon or atatements to Lender (or failed to ' ' '
<br /> provide Lender with any material infurmation)in connection with the loan avidenced by the Nota,inclucling,but not . ���'�
<br /> ` limited to,representations concerning Borrower's occupancy of tha Property as a principal residence. If this Se�urity
<br /> � . � Iudt�w�ia��i is�r�a t:,a�chol3,Bcsrrat¢er�hsll^_ompl;with nit the pr�visions of the tease.If Botrowar acqulr�tee title to _: _ : _
<br /> the Property,the leasehold and the fee title ahall not merge unless i.cndet agrees to the merger in writing. �
<br /> „ 7.Protection of Leader's Rig6ts in the Property. If Bonower faile to per[orm the covenants and agteementa � �
<br /> contained in this Security Inatrument,or there is a legal proceeding that may sigmiicantly affect Lender's rights in the ,f��
<br /> . � Property (such as a proceeding in bankruptcy. probate, for condemnation or tortelture or to enforce lawe or «'�� .
<br /> • regulations),then I.ender may do end pay for whatever is necessary to protect the value oi the Property and Lender's �:f
<br /> • . righta in the Property. Lender's actions may include paying any aums secured by a lien ahich hes priority over this �:.Y „_,��
<br /> ; Security Instrument,appearing i n court,paying reasonable attorneys'fees and entering on the Property to make repairs. �
<br /> Although Lender mey take action under this paragraph 7,I.ender does not have to do so. � . ��;%�
<br /> Any amounta diebursed by I.ender under this paragraph 7 shall become additional debt of Horrower secured by this I �"' „�
<br /> � � Security Instrument.Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest ,,
<br /> „ from the date of disbursement at the Note rate and shall be payable,with interest,upon notice from I.ender to Horrower � °•• -
<br /> requesting payment. '
<br /> 8. Mortgage lasurance.If Lender required mortgage ingurance as a condition of making the loan secured by this � „
<br /> Security Inatrument,Bocrower shall pay the premiums required to maintain the mortgage insurance in efiect.If,for any -
<br /> reason, the mortgage insurance coverage required by I.ender lapses or ceases to be in etiect,$urrower shall pay the .
<br /> prem'sums required to obtain coverage substantially equivaleat to the mortgage insurance pr�viously in effect,at a cost '
<br /> substantisily equivatent to the cost to Borrower of the mortgage insurance previously in effect,from an alte�nate �
<br /> mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, �
<br /> � Bnrrowec shall pay to Lendereach month a sum equal to one-twelfth oi the yearly mortgage insurance premium being i
<br /> paid by Borrower when the inaursnce covera�e lapsed or ceased to be in effect.L.ender will accept,use and retain these �
<br /> payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required, �
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<br /> Form 302s 9/90
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