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<br /> ,. '�yt�,�;��;�i 8, glaznrd or Property Insurunce. Borrawer shnll kcep the improvements naw existing or hereafter erected on the
<br />� - .,� }�,2T : Property insured agstlnst loss by fire. hazards included within the term "extended covemgc'and uny athc�hnzzirda. including �_
<br /> flocids or flooding,for which L,ender requi�es insurance.This insurunce shall be maintalneci in the amounu: und for she perladF ___
<br /> ;� '�� that Lender reguires. The insurance aurier praviding the inaurunce shap be chosen by Bonower subject to Lender's approval
<br /> � ���1'�f, . which shall not be unreasonably withheld. If Barruwer tails to maintuin coverage descdbed above, L.ender may.at Lender's
<br /> option,obtain covarage to protect I.ender's rfghts in the Property in acca��lance with paregraph 7.
<br /> . �_°.•`,;; �: All Insurance pallcies und renewals ghall be acceptable to I,ender and �hall include a ctundurd mortga�e clause. Lender �__ ___.
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<br /> '4 �. � r•� � shall havc the�ight ta hold the policfes and renewals.If I.ender requires,Borrower shall prampt�y givc to l.endcr ail receipts uf
<br /> � '�� y��lP�t;,, paid premlums and renewal natice�.In tke event of loss.Borrower shnll�ive prampt natice ta the insurance carrierand Lender. -
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<br /> ��� �� ': I.ender may make proof of loss{f not msde pramptly by Rorrower. ,:r,; —. __
<br /> � ;,,, Unless L.ender and Bonower othcrwise agrec in wr�ting,insurance proceeds shall be appHed ta restoratian ar repufr of the =;�;�'�-
<br /> � I. '. ' •' . •,:J;,e�t:R-�=-----
<br /> , ; Property damaged,if the restoration or rcpair is econamicaliy feasible and Lender s security is not lessened. If the restoratIon or .;,p,.�y,��.�_j
<br /> :t� . � � �` repair is not ecanamically feasible ar l.ender's secudty would be lessened, the insurance proceeds shall be applied to the sums ;��,
<br /> ' ^':��v��a_:�
<br /> • �':� ��; secured by this Securlty Tnstrument. whether or not then due, with any excess paid to Borrawer. If F�rrower abandons the ,.•: c t�";��,_-_-
<br /> :�� * , ° .. ,.+u'�.�':`
<br /> Property.or does not answer wlthin 30 days a notice from Lender that the insurnnce carrler has offered to settle a claim.then ��
<br /> �����.,�
<br /> f� > � Lender mny collect the insurnnce praceeds. C.ender may use the proceeds to repair or restore the Property or to pay sums '� .�'�}.• _ , ',jr.
<br /> . secured by this Security Instrument,whether ar not then due.The 30-day period will begin when the notice is given. , '�'� `'`�;;'�
<br /> Unless L.ender and Barrower otherwise agree in wriNng. any applicution of proceeds ta principul shuil nut extend or . '"" E�-.--
<br /> �.,:���3
<br /> pastpone the due date af the monthly payments referred to in pansgruphs I and 2 or chungc the amount af the payments. If 't�� . . ,?�.�F-r'=-
<br />_. _.—.- ---- under p�ra;raph 2! the Pmi±crty i�aequired hy Lender. Forr�Wpr'c rinht t�nny iocurance pnlicies and proceedti r�ultinc fram = -��-'"�`"'_-_
<br /> � ~ damage to the Praperty prior to the acquisition shatl pass to Lender to the extcnt of the sums secured by this Security Instrument
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<br /> '' � immediatcly prior to the acquisition. ��
<br /> 6.Occupancy,Preservation,Maintenance and Protection af the Property;Borrower's I.oan Appltcallon;Lea4eholds. •���x-'��, ''`-
<br /> . Barrower shall occu ectablish,and use the Pro ert as Borrower's rinci al residence within sixt da s after the execution of ,��� ��
<br /> . PY• P Y P P Y Y • �;, �
<br /> ' • this Security Instrument und shall continue to occupy the Prope��ty as Borrower's principat residence for at least ane year nfter � �
<br /> ��!�i.�
<br /> the datc af occupancy, unless Lender otherwlse agrees in writing.which consent shuil not be unrcasonably withhcld. or unless . -
<br /> , •• extenuuting circumstunces exist which ure beyand Barrower's control. Borrower tihall not destroy, dama�e or impair the • ,'?�
<br /> � . Property, ullow the Property to deterinrate. or commit waste on the Pr<iperty. Bonc�wcr shall 6c in default if any forfelture s
<br /> ' . action or proceeding, whether civil or criminal, is ba�un that in Lender'ti good faith judgrnent could resuit in forfeiture of the r, • � � �, "
<br /> Propeny ar otherwise muteriaUy impair the lien creuted by this Security[nstrument or I.ender'ti security interest. Borrower may � -
<br /> _ . �_________.__.. cure such a default and reinstatc,as provided in puragraph I 8,by causing the action ar proceeding to be dismissed with a ruling , ' � •
<br /> ' thut, in L.endcr's good�faith determinaticm, prccludes forfeiturc of the Borrowcr's intcrest in the Property or other material �4� -' a
<br /> ' �' •• lmpuirment of the lien creuted by this Security Instrument or I.ender's security interest. Borrower shall also be in default if i
<br /> Borrower,during the loan application pr�eess.�uve muteriul ly fulse or innccurate inforrnaticm or statements to Lender(or failed - .;i; y.
<br /> to provide I.ender with any muteriul informution)!n connection with the loan evidenced by the Note. Including,but not limited • '� •.;i
<br /> �� to, representutinns cnncerning Bnrrower's occupancy of the Propeny as a principal re�idence,If this Security Instrument is on a � �
<br /> leusehold, Bonower shaU comply with ull the provisions of the Iease. if Borrower acquires fee tide to the Property, the '�` .�•
<br /> leasehold atid the fec tiUe shall nnt mcrge unless L.cndcr ugrees t<�thc merger in writing.
<br /> , •• 7.Protection of I.ender's Rights tn the Property.It Bnrrc�wer fuils to perform the covcnants and agreements contained in i���'
<br /> this Securiry Instn�ment, ur there is a legul prcxeedin�that nwy signiticuntly uffect LeMler's rights in the Property (such a+a �•� '����,
<br /> ' prcxeeding in bankruptcy, probate, for ronJemnution or fnrfeiture or to enti�rce luws cx regulatic+ns), then Lender muy do and w'•�l�, �
<br /> e_ pay for whatever i. necessary to prutcct the vuluc of the Property und I.endrr'.right�in tlx Property. l.ender'.actions may ,�,��=
<br /> include pnying uny sums secured by u lien which I�as priarity nver this Security In,trumcnt, uppeurin� in wurt, payin� ���,,. '�
<br /> • mnxonable nttorncy�' fcex and entering on the Propcny to muke repairs. Althnugh I.en..icr may takc artion undcr thic paragraph
<br /> , 7, Lender does not have to do xo.
<br /> . Any amounts disburxed by i.enJcr under this puragraph 7 ,hull tkr�m�r additionul Jcbt of Borrower secured by this • �
<br /> ' Security Instrument. Unless &�rr��H•cr and l.ender sgrce tu cnhrr term,uf paymm�t,th��c um��unts shull bcur intcrest from the ,
<br /> Jute af disburscment ut thc Notc rute und xhull he paynhle, with intere+t, uFxm noticc Frum I.cndcr to Bottowcr requesting " ' J
<br /> payment. �
<br /> 8.MortRa�e Insurance. It'I.cndcr rcyuircd mimgugc i n+uru�xr ati a runJitiim cif nuk ing thr lc►un�ecu�ed by this Security , •
<br /> [nstrument, Borrowcr shull pay thc prcmium� required tu rnaintuin the murtgagc in�urancc in effcrt. If, for uny reason, the
<br /> mortgagc insurance coverage required by Lender lup�es or cca�e. to tx in effect. B�ttrcnrer shull pay thr prcmiurns required t�
<br /> obtuin coveruge �ub�tunually eyuivulent to thr mortgagr in�uranrr prrviuu.ly in cffcrt,ai a c��+t�ub+tantially eyuivnlent tn the
<br /> co,t to Borrowcr of thc mnrtgage insurancc previciu��y in effcct, frc�m an ulternutc mun�agc insurer uppr�ved hy I.endcr. If
<br /> - wbstantiall��rquivulent mortgugc imuruncr rovrrugr i>nut arailuhlc. Borrow•er.hall}�:q•t��LcnJer earh mcmth a wm eyuul to
<br /> �; ' ane-twclfth cif the yrurly mongagr insunmce premium Fxin� paid hy Borro�ver whrn thc in�uranrc ru��crage I•rp�ed ur reascd to
<br /> ' � be in effect. Lender will uecept,u.e and rrtain thr.rr paynune.a� a la>, re,rr�•r in licu ut� m��rtga�r insurunre. Loss rc+crve �
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<br /> form 3028 9/90 �
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