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<br /> ---_°- -°� S. F�zArd or Irroperty Iasuranoe, Borrower shal! keep the impruvement� no� existing �he��reafte�r�e�mted o�n the ------
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<br /> °.�sr�ti, properry jnsured P.geinst logs by fire, hozards included within the term extended�overage and any other hazards. inclnding
<br /> = u.�.�... � floods or flooding,for which l.ender requires lnsurance. This insurance shall bc muintained in the nmount�and for the periods �+ ri,�, =t �.--3 ---
<br /> _• '�3�' �' �' that Lender requinw. The insurunc;e carrier pmvIding the lnsurunce ehall be chosei�by�Honawer subject to I.ender's approval �`'�-'=�_-
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<br /> whtch shalt not be unreusc+nably withheld. If Barrower faUs tu muintain covernge described abovc. I.endcr may,at Lcnder's �;;;;�;��.
<br /> _ ;.,.;�::'. . . �._.....3�,::�---
<br /> opdon,obtsln coverage to protect Lender a dghts Qn tho Property in accardEUece wlth pnregraph 7.
<br /> All Insurance palicies and renewels shali be acceptabie to Lender end shall include a standsrd mortgage clause. l.ender .�*''°-=-l��"' `------
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<br /> - ' shall have the right to hald the polictes and renewals. If Lender requires,Borrawer shall promptly gtve to Lender all receipta of , ., n_.:_.--
<br /> � �" ' aid remiums and renewal notices,In the event of loss,Borrower shall ive rom t rtotice to the Insurence carrier and Lender. :::,y°°'��~`
<br /> � �;;�•�i��' P P 8 P P ,„�,k�-- __ _
<br />_ . �� n.,:{' , :- ;� I.ender may mnka proof of toss if not made prompdy by Borrower.
<br /> � �`' Unless Lertder end Borrower otherwise agree In wdting.insurance procee�s shall be applied to restoration or repair of the ° - '��'�";.:.�='
<br /> '.'�,�� � � Property decnage�.if the restoration or repair is economicnlly foasible end I.ender'a security is not lessen e d.I f t hc restorat ion or ���`.��`�-
<br /> . , . `' repair ia not econamically feasiblo or I.ender's securtty would be lessened, the insurence proceeds shall b�applied to the sums .� �
<br /> �ti; :� - secured by thia Securfty tnsqument. whether or not then due. with any excess paid to Borrower. If Horrower abandons the „ "
<br /> ,�, .i�' , ,. Property.or does not answer within 30 days a notice from I.ender that the Insurance carr[er has offered to settle a claim.then ,, ��
<br /> ` ',','�'s� . � L,ender may wllect the insurance proceeds. Lender may use the proceecls to repair ar restore the Property or to pay sums : �-
<br />_% secured by this Security Instrument,whether or not then due.The 30�day period wtll be�in when the notice Is given. �,,
<br /> ' Unless Lender and Borrower otherwise agree in wddng. any application of proceeda to prIncipal shall not extend or . , %�'7'
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<br /> � „ '� • postpone thc duc date of the monthly payments referred ta in paragraphs I and 2 ar change the amount of thc payments. If , ,; �
<br /> � .� under paragraph 21 the Property is acquired by I.��w�r,Botrawer's r�ght to any insurence policIes and proceeds resulting from •• -
<br /> � � ° damege to the Property prior b the acquisition shall pass to i.ender to the extent of the�ums secured by this SecurIry Inswment �� ...,. _ J`�.~
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<br /> - �___._--.-----..= immedistely prlor to the acquisition. --. --, - --� -� �
<br /> � " �� 6.Occupaa�y,Preservation,Malatenauce and Protection of the Property;Borrower's Loan Application=Leaseholds. ` ^ '' :.w-
<br /> ,. , „ Borrower shall occupy.establish,and use the Property as Borrawer's principal residence wIthin sixty days aftar the execution of ' • • _=
<br /> � this Secudry Insuument and shall continue to occupy the PrapeRy as Borrower's prineipal resfdence for at lenst one year atter ,. ' Y _
<br /> - . ° .� the date of occupancy,unless Lender otherwlse agrees in writing, which consent shell nat be unreasonably wIthheld. or unless . " • - ' —
<br /> extenuating clrcumstances exist which are beyond Borrower's control. Borrower ahall not destroy, damage ar impajr the Y. �'��
<br /> „ Pro p e r ty. allow the Pro p ert y to detedoratc. ar commlt waste on the Pro p ert y. Bonowe� ehell bc in default if an y forFeiture � � °#��rr�°
<br /> acdon or proceeding, whether civil or crlminal,is begun that in Lender's sood faith judgment could result in forfeiture of the , � , ��
<br /> ' ' Property or otherwlse matertaliy impair the Iten created by this Secudty Instrument or L.ender's security interest.Borrower may ;'�`` -� '
<br /> cure such a default and r�einstate,as provided in paragraph 18, by causIng the action or proceedin�to be dtsmissed with a ruling . r. � �
<br /> _ __ _ that, in L.ender's good faith determination. precludes forfeiture of the Borrower's interest in the Property or other matcr�al _____ ��'�� __
<br /> �� � lmpairment of the lien created by thts Security Instrument or Lender's secudty interest. Horrower shall also be I�� default if ' , :
<br /> Borrower.during the loan application proccss.gave rnater3aUy false or inaccurate information or statements to L.end�r(or feited «'. !:
<br /> to provide Lender with any mater�al information) in connection with the loan evidenced by tho Note,including. but n�t limited
<br /> to,representations concerning Borrower's occupancy of the Property as a princlpal residence.If thIs Securlty Instrument is on a j, �i
<br /> leusehold. Borrower shall cnmply wlth all the provisions of the lease. If Borrower acquires fec title to the Property, the ' �,�
<br /> . leasehold and the fce title shall not merge nnless L.ender agrees to the merger in writing. ���'�
<br /> 7.Protection of Lender's Rlghts in the Property.If Borrower fails to perform the covenants and agreements contained in ,r�
<br /> • thls Secudty Instrument, or there is a le�nl proceeding thut may significuntly affect Lender's rights in the Propeny (such as a ��
<br /> . � proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforee lnws or regulations). then I.ender may do and ''
<br /> pay for whatever is necessary to protect the value of the Praperty und I.ender's rights in the Property. I.ender's actions may �� :��� �.
<br /> 9�-
<br /> include paying any sums secured by a lien which has priority aver this Security Instrument, appearing in rnurt, paying ��,.�. ��
<br /> , reasonable attomeys'fecs and entering on the Property to make repairti.Although L.ender may take action under this paragrnph �,%�� . •�-
<br /> 7,Lender does not have to do so. „
<br /> Any amounts disbursed by L.ender under this paragrnph 7 shall become ndditianul debt of Borrower secured by this � ,��
<br /> ' Security Instrument. Uniess Sur�•ower anJ Lender agree to��thcr tcrn�s of payn2cnt, thetie amounts shail bear Interest from thc ' � ` „� '-_
<br /> date of disbursement at the Note rate And shall be payable, with irtc,,,t, upon notice from Lender to Borcower requesting I � ��
<br /> payment. ; .:;�
<br /> 8.Mortgage Insurance.If L.ender required rnortgage insurancc us a canditivn of making the loan secured by this Security � '� �
<br /> � . Instrument, Borrower shall pay the pmmiums requirai to maintain the mortgagc insurancc in�ffcet. If, for any reason, the �'-
<br /> moft�age insurance coverage requlred by Lender lapses or ceu�es to be in effect,Borrower shall pay the premiums required to ,.
<br /> obtain coverbge substantiatly equivalent to the mortgage in,urance previcwsly in effect, at a cotit substantially equivalent to the � p
<br /> cost to Borcower of the mort�agc insurancc previously in effcct, from an alternate mortg.�ge insurer npprrned hy i.ender. if
<br /> substantially equivalent mortgage insuruncc coverage i+not availablc. Borrc�wer shall puy to Lender eurh month n rum equnl to � '~
<br /> one-twelfth of the yearly mortgnge insurancc prcmiurn bcing puid by Bc�rn�wcr when the insurance c��vcrrge lapsed or ceasaf to , _
<br /> ' be in effect. I.ender will accept,use and retain these payments a+ a Inss rc�erve in licu of m�irtgage incurance. Lnss reserve �
<br /> " ' Form 3028 9190 .
<br /> Pagc 3 0�6
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