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<br /> �� . . , S. Hac�rd or Property laaunncea. Aarroaer ahall keep tha improvements now existing or heremiter ereoted on �
<br /> „ _� � tha Prc�perty Ineured ageinat toss by iire�hezo��la included svlthin the term "extended covorage"and any oth�r hn�,ardo,
<br /> , ° ��' ��� inclading floods or flooding�for which Lendor rea{uii�a insurance.This is�.qurance ahell be maintt�inecl in the nresounca '� �_____
<br /> „ . ��� . �� snd for tha pedods that Lender requir�.1'ha inaurAnce carrIer provtding the ineuranoe shaU be chosen by Bortoaer
<br /> �- --°� subjact to I.ender's apptavel which eh�tl n�t he unreasonably tvtthheld.If�orroaer tails w maintain covorege descrIbed
<br /> � � `. Abave.I.ender may�:�t[,ender's optio�.obtnin ooverage w protect Lender's r�ghta in tha Property ln accordanca cvithp - _
<br /> � . . paro�aph 7. _
<br /> All insurance polictea and renawats shnll 1x acceptable to Lender and ehall ir.clude a standetd mortga�a clnuso,
<br /> � . I.ender shall have the ri�ht to hald tha policies and renew�ls. Ii I.enderrequitw.a, Borrocver oho11 promptiy Eive to gs�r���_^�
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<br /> ' Lender all receipts ot paid premtuma and renewal notices.In the event oi loss,Aonoaer shall give prompt notica to tha -
<br /> A
<br /> � inaurance carrier and Lender.I.rnder mny make prooi oi loss if not mude promptly by Bono�ver. � --�=...--_
<br /> � C1n��i,end�r end Aarroaor othernise age�ee in c�riting,inauranca proceeds shell be upplied to restoratioa or repni� �.��,���_
<br /> of the Propetty damaged.if the restaretia�n or repair ls economtcally feasible and I.ender's security is not tessetted.Ii thn _�__�
<br /> s estoratton ar t�epair is not eronomicully 4easiblv ar I,ernder's secudty would be lessened,the insueanca proce�ia shell be �'� ri=:�
<br /> . applied to the aume secured by chls Security II�rsteuflc►em4.Nhether or not then due,with uny excess paid to Borrower.I4 ,
<br /> 1�QreoNer ab�►ndotis the Property.or�snot eutswQa wnEisin 30 days e nottce from Lender thut the insurnace carrier hes �_'i
<br /> o4Peeed to settle a claim. then I.etider rm►ay oa�➢1�cY 8he insue�ce ps�oeeds.L�c►der may use the pmceeds to repair or . .
<br /> rt�store the Frog�erty or to pay sums secNe+�d by this Socm�ity d�stcupnen+..whether or not then due.The 30-day period w�11 _ � :�.. ,
<br /> b��en ahen tha notica is glven. • .
<br /> Unles4 L,ender and Borumaes�ottneewise agr�in wenting,any app�ication o4 pmceeds tn princIna!shall srot etteend oe
<br /> • . �os3pone t4ie due date of the anornthly payments re�er�a1 to in para�rap4ss 1 an��oe change tha amoun4 oQ t��paynnents. '
<br /> � �f under patagcaph 21 the Property is acquired by Lendet� SorroN�e's sight w any insurence policies ae�dl p�ds _
<br /> resulting from damage to tho Ptopersy�rior tm the acquiaitioa shall�a�to I.ende�r to the ext¢nt of the smns szcu�by
<br /> . + this Security Instrument immediatoly prior ta the acquisition.
<br /> 6.Occupancy,Proservat{on.Maintcr��AOe ea�d Protection o�the Pr��nerty;Banower's Loan�Agngnidcatian�t; ;..
<br /> Leaseholds.Borrower ehell occupy.eatablish,and use the Property as Borrower's priacipal t�e.sidence withen sixty days ; ,r.:� ��
<br /> after the execution of this Security Instrument an�s3�a11 continue to occup�• the Property as Borrower s ptincipal `'�''`.�
<br /> � residence for at least one year atter tbe date of occupancy,unless I:end`r otherwise agtees in writing.which consent sh�ll � •
<br /> ° not be unreasonably withheld,or unless extenuating circumstances exast which are beyond Horrower's control.Hortoaer �
<br /> � � sha11 not desuoy.damage or impair the�r�perty.allow the Property to deteriorate,or commit waste on the Propert��.
<br /> � }itircower shall be in default if any forfeiture action or proceeding,whather civil or criminal,is begun that in Lender's
<br /> , good faith judgment could result in forfeiture of th$Property or otherwise rnaterially impair the lien cr��ated by this �
<br /> Security Instcument or Lender's se�urity interest. Aorroaer may.cure such a default and reinstate, as provided in .;�;�r���, }
<br /> • ' , paragcnph 18, by causing the action or ptocceding to be dism�ssad with a ruling that, in Lender's good taith �i�
<br /> determinaiion,prcxlud�farieitu;eaf tl:�9c>rrow�r's':nt?r!�in the Pmperty or other material impairment of the lien :t'��� •
<br /> created by this Security Instrument or Y.e:►det's security interest.Borrower ahaal also be in default if Bonower.during T,�2�;�(�,. ��:
<br /> the loan application proc�,s, gave materially false or inaccurate informatia�n c�r statements to Lender �ar failed to ',��;5<:;''fif,�°�.
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<br /> �;•• ; . , provide Lender with sny material information)in coranection with the loan evidenced by the Note,incl�a�o�g,but not , ,4Y,�� '
<br /> . ., : .���~'� limited to.representations concernin$ Bnrrower's�cc�pancy of the Property as a princig�l residence.If't�,�s Security .
<br /> '� ', :i Instrument is on a leasehold,Borrower sraU comply Nath a11 th��prati•isions of the lease.If Borrower acquir�s fae title ta -
<br /> ''%-�•���' the Property,the leasehold and the fee titie ahall not merge unless l.ender agrees to the merger in writing. "
<br /> "!�� 7.Protect�on of Leader's Rights in the Propeffty.If Borrower fails to perform the covenants arr�agrcements
<br /> contained in this Security Instrument,or there is a legai proceeding that malr significantly affect Ixnder's rights in the
<br /> Property (such as a proceeding in bankruptcy, probate, for condemnatiwn or forfeiture or to enforce laws or ,
<br /> � t regulations),then l.ender may @o and �ac for whatever is necessary to protect the value dt t�CE Property and I.ender's
<br /> � rights in the Property.Lenders actioms may include paying any sums secured by a liera nhnch has pnority over this � ���,
<br /> . �'.'�• Security lnstrument,appearing in court,paying reasonable attorneys'fees and e�ntering on the!Property to make c+epairs.
<br /> :1lthough Lender may take�rtion under this paragraph 7,Lender does not ha�•e a�n do so.
<br /> �� ', Any amounts dishurs::z1 by Lender under thia rara,graph 7 shall become adcli�iona!debt of Borrower secured by this
<br /> Security Instrument.Unless Borrower and Lender agrEe to other terms of payment,these amounts shafl bear interest
<br /> ,'�''�:t�;�. "',.�� �'� 4rom the datc c�e disbursement at the Note rate and shaJl be payable,with interest,upon notice from Lender to Borrower
<br /> � �-� . requesting pa}ment.
<br /> �� 8, Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this •
<br /> �� �' Security Instrument,Borrower shall pay the premiums required to maintain the mortgage insurence in eifect.If,for an �f'j'i-�', � '
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<br /> -;',;,.;• reason, the mortgage insurance coverage required l+y Lender Iapses or ceases to be in effect, Borcower shall pay the ' �' :',-�;
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<br /> prcmeums requiced to obtain coverage st�hscantially ec�uivalent tn the mortgage insurance previously in effect,at a cost "t:i�;%!i��,
<br /> • substantially equivalent to the cost t� Ac�rrower of the mortgage insurance previousiy in effece, from an alternate ,.::�
<br /> mortgage insurer approved by I.ender. If substantially equivalent mortgage insurance coverage is not available, �r•�.•
<br /> �orroa�er shall pay to I.enBer each month a sum eci�a9 to one-twelfth of the�:early mortgage insurance premium being ��.�'�l���
<br /> ;`' . paid by Borrower�vhen t�a insurance coverage lapse;: or ceased to be in ef°ect.Lender will accept,use and tetain these %�' '����'.�
<br /> �'�� payments as a loss resrrti•e in lieti of mortgage insurance. Loss reser�r pacments may no longer be required, `j�1,i,;��
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<br /> � Form 302a 9/90
<br /> � �-6RME)�oios�.o, P�9�a e� a in.��ete: :'5�.�.�
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