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<br /> -°`�''''M'���'`'•� S. HazArd or Ihaperty insurunce. Horrower shall kocp the improvements now cxisting on c�reaftcr erccted an the �e' -'•' •• •�• " _
<br /> _�`'''��'•�`'' '`�`'"' Propeny insurecl aguinst loss by firc, hawrd� includecl within the term "extendecl covecuge" und nny otNer hscards, including "' ��n�m._
<br /> `'t=�."`�:'�'�'•"a;'> ticxids or tlaading,far which I.eader requites insuranca This insurunce shull be maintuined in the amounts and fnr the perlods %'°'�:"f�';-`.:.:'�:.
<br /> � a' thut l.ender tequire.r•. Thc insurunre curricr providing tbe insurance chatl be choscn by &�rn�wer sul�jcct tu l.cnder'�uppmvul �.•-v�,_'
<br /> - • which shatl not bc unmasanably withhcld. lf Borrawcr fails to mninWin covcrngc d��scrit+ccl ubuvc, L.cnder may, ut I.cndcr's � .?, �..";"-'�'
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<br /> :; � .,, :' , aption,obtain coverage ta pmtect Lender's rights in the Properly in uccordunce with paragraph 7. ';,,. .�,;,,, '..-_r�
<br /> :�• 9 All iosurunce pc�lfcies and renewulc shall be ucceptuble tu l.,ender und shal! include u stundurd mortgage duuse. l.ender �''''4;':;;;;:�:~�::;� _
<br /> � ... ., � sha4f have the right tn hold the paticies and mnew.als.lf t.endcr mq�ites.Sorrower shall promptly gice ro I.ender all rcreipts c+f � • _-_°"-� ..
<br /> patd premiums And renewal notices.!n the event of lo.s,Bvrrower shall give prompt notice to the insurunce rarrier and Lender. ;°i; ���;;;_;'-��_
<br /> L.ender m�y make�+mof c.f loss if not made promptly by Bnrnc+wer. -�-�� -,.- °'�``=_-___-- -
<br /> ..��� „
<br /> Unless Lender and Borrowcr othenvise ngrce in writing,insurancc praccuds shnU t�c applied to restarution or repair of the � 41`.±,;�`y:-'_--
<br /> • Pmpeny dama�od.if the restorntion ar repuir is econnmicully feasible and Lender's secu�ity is nat lessened. If the restoration or �°''F"fi�°`'��==_----
<br /> �epair is not econamically feasible or Lender's security would be lessened. the insurance pmreeds shal l be appliat to the sums �• ��`"_'
<br /> "�r^�;.f'�;i'�,._`
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Bonower. If Borrawer abandons the ' -``"=__--
<br /> _ ,::��.;.�---
<br /> Property. or does not answer within 30 days a notice fmm L.ender thut the insurance carrier hes offered m settte a cleim.then .,;,��,���Q_�
<br /> • i e�zdcr may collect the insurance proceeds. Lender may use the proceeds to repair or rectore the Property or to pay sums =r-- _
<br /> , secuc�d by this Securiry�nstrvment,whether or not then due.7'ITe 30-day period v�ill begin when the notice is given. :i�;: �i;.;�`';�`=~-
<br /> ;�,, ,:,,�,_,�,.-
<br /> "�,;� ' Unl��ss Lend�er and �ormwer otherwise ugree in writia�, any appli.r.�t.ion of pruc�eeds to principal shalt oot exle�ud vz �; �--
<br /> ' �: _t.�:,;-
<br /> � postpane the due date of the monthly payments referred to in �raragranhs 1 and 2 ar change the acnount of tt�e pa,ya�nts. Ef °•: .:�=���_-
<br /> • under ra h 21 the Pro rt is ac uirod b Lender,Borrower's ri ht to an insurance lici�and roceeds resu!' n from -�"-R•
<br /> P�S P Pe Y 9 Y 8 Y P� P � --
<br /> ' dumege ti►the Pruperiy priur tu the acyuisitiun shulf pna��u ixnder W Uie extent uf tlit sunu secureri by this Security Lutruntent ��-' ��
<br /> �,,..`, _
<br /> immediately prior to the acquisition. �t;i,;.r„�:
<br /> 6.Occupaacy,Presewation,Mafntenance and Protection of the Property;Borroa�er's Loan Applfcation;L,easeholds. .. �
<br /> • Borrower shal!occupy,establish,and use the Property a5 Borrower's principal residence within sixty days after the execution of `° —
<br /> this Security Instrument and shall rnntinue to occupy the Property as Borrower's principal residence for et least one year after ��:,
<br /> " the dale of occupancy,unless I.ender otherwise agrees in writin�, which consent shall not be unreasoi�ably withtxld,or unless �^��.
<br /> 5,:;',`,`.` * s•^.
<br /> • ;�F.,,;,�+ . extenuating circumstances exist which are beyond Bormwer's control. Barrower shall not destroy, damage or impair the L�!�" _
<br /> , ' Property, allow the Propeny to deteriorate,or commit waste on the Property. Borrower shal! be in default if any forfeitum ,�-
<br /> ° . action or proceeding, whether civil or criminal, is begun that in I.ender's good faith judgment could result in fodeiture of the r�" ,� ��° ��, __
<br /> � Propeny or othenvise materially impair the lien created by this Securiry Instrument or I.ender's security mterest. Borrower may • ,.y
<br /> r,. ; -
<br /> -� cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling b ,.•� �
<br /> ' ,° thai, in I.cn�rr's good•.faith dctcrmination, pre:tudcs forftitarc of ih� Borrou•cr's intc:rest in thc PraFeety ar e;!:e:sr:at;ris! _ ,� ' ��
<br /> _ , - .�,� :_: .�
<br /> • impairment of the lien created by this Security [nstrument or Lender's�ecurity interest. Borrower shall also be in default if
<br /> ° . • Bonower,during the toan application pmcess,gave materiaily false or inaccurate information or statements to I.ender(or failed .' ?� -
<br /> to provide l.ender with any material information)in connectiun with the loan evidenced by the Note,including,hut na limited '�'��'" —
<br /> to,representations concerning Borrower's occupancy of the Property as a principal residence. If this Securiry Inst�ument is on a �;{J%;;;�� -
<br /> +"'''���`"� �� leasehold, Borrower shall com 1 with all the rovisions of the leace. If Bonower ac uires fee title to the Pro rt the f
<br /> .. " ;,�r,� P Y P q P� Y� ,.
<br /> . . leatiehald and the fee tide shal l not merge unless i.ender ugrces to the merger in writing. ��'
<br /> ';,:.,.:,
<br /> 7.Profection of I.ender's Rights in the Property.If Borrowcr fails to perform the wvenants and agreements cantainad in ;•,,;,�-;�;.," ; ��.,
<br /> ' this Security Instrument, or there is a Iegal proceeding that may significantly affect Lender's rights in the Property (xuch as a '� �' ;'_' �
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations), then I.ender may do and ''.:,',,." '„�r
<br /> '�_..
<br /> ' pay for whatever is necessary to protect the value of the Propeny and Lender's nghts in the Property. Lender's actions may '�.��`<�'� �` �:�•,,.,�_
<br /> include paying any sums secured by a lien which ha� priority over this Security Instrument. nppearing in coun, paying .'� `"-�'�, ..;���.>'�
<br /> " :r' reasonable attorneys' fces and entering on the Propeny to make repairs.Although I.ender may take uction under this paragraph , ' �' �! ;�� -
<br /> 7,Lender does not h;ive to do so. , 't��`N,._
<br /> Any amounts disbur+ed hy L.ender under thiti paragraph 7 shall hecome additional deht of Borrawer secured by this • ° � '�? �. �v„-i'
<br /> Security Instrument. Unless Borroa•er and Ixnder agree w other term�<+f payment, these amaunts shall bear interest from the °� �:� _
<br /> date of disbursement at the Note rute and tihall he payable, with intcrest, u�n noticc from Lender to Borco�ver requesting • ;�s:.,,;�.�
<br /> y`�..
<br /> ._ .1'�� payment. :i•;:'.�. �,,—.
<br /> `t' 8.Mortgage Insurance. If Ixnder required mortga�e imurance as a ri�ndition of making the luan ucured by this Security ,; ;"`••`•�"�. - •. �
<br /> , .'�;�
<br /> � Instrument, Bc�rrower shall pay the premium. requireci to maintain the mortguge insurance in effect. If, fiir any reason, the �. �
<br /> •r.:, - .
<br /> .;�..;�:,, . ' martgage insurance coverage reyuired by L.endrr lapses or reases to bc in effect, Borruwer`hall pay the premium� required to ,. �
<br /> :''�f��;.�• a�btain covera�e snbstantialh equivalent to the mongage insurance prcviously in effect, ut a cuyt.ubstantially equiv�tlent to the SP,�
<br /> cost to Borruuer of the rnortgage insurunee previuusly in effert. from an alternate mortgage in,urcr apprcweei by Lender. If •
<br /> , substantially eqw:alent mortgage insur:uice coverage is nut xvailxble. &ttrou•er shall pay tu L.ender earh mc>nth •r sum eyual to I • `r ' -
<br /> i�, one-twelfth of the yearly mortgage insuran��e premium txing paid by Burro��rr when thr in+uranre cu�•crage lxpseJ i>r ceased to I '�'r�_�:�.;t,:;' ,`'�'
<br /> . be in effect.Lender will acce�t,use and retain thetie payment�a� a lo.ti re�crve in lieu of mortra_e �nsurance. L�iu retierve �^•� ,. . `,�
<br /> Farm 3028 9/90 !�:,: . .,,��.,� �.:
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