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<br /> ' ,� io�'��7 � �—
<br /> ��•RECQtt�_ sass�c� gA�
<br /> '- S. Wazard ar Prap:rty It�urance. 9onower shall kccp ihe Impravcmcnt�s na�v existing ar hereuRcr crectcd on the
<br /> ��`�''~��� Property insured nbnin�t loss by�rc. hu•r.urds includc.� wlthln thc tc�m "cxtc�ided cuvcrage"tutd uny othee ltar.nrds. includi�ag
<br /> flaods ur flooding, Pur which l.citdcr nyuires Insurrmce. Tleix insurunce:+hull bc m�intuincJ in Uic umUUnts and fur tlte periods �_
<br /> - — thnt l.endcr requircw.The insurnnce rutrter pr�viding thc insuruncc Fhail bc cMos�n by 8arruwer subjcct to l.cnder's approvs�l
<br /> whicb hh�ll nai be unr+eusonably withhcld. If&�rrawcr fi+ils to mnintnin covemge descrihed nt�uve, l.cnder may. at I..ender'a
<br /> option.obtain covemg�t to pmte�:t Lender's rightx in tho 1�r�{xrty in uccurdancc with parugruph 7.
<br /> All insurance policks und �enewiiiK shall tre ucreptublo tc� l.ender wtd Kiiall include A r+toutdaed martguge einuse. Lender
<br /> � �—_---�-----,_� ,_
<br /> sh:ip hnve the r�ght tu hald the pollcies and renewnls.if l,ender rcquires.&urowcr ehail pmmptly give tn L.ender all rcxcipta af
<br /> - pa1J premiums und renewal notices.In the event af lo�,s.Qnrr�wcr shutl�ivc prampt naticc to the insurnnce currler aeid Lender.
<br /> I..ender muy makc proof of loss if nat madc pramptly by 8orrower.
<br /> : Unlcss l.endcr and Borrower atherwisc ugrcc 1n writing,insumncc procccxis shnil be uppiial ta restoratlan ar�epalr af thc
<br /> Properry damuged. if the restomtian ar r�pair is econamically t'c:isible und I.ender's secudty is nat lessened.If the restoratian or
<br />�::sz„ repuir is rtat eccmomicsilly fcaxible or Lertder's sccudty would be Icssenect.thc insuronce proceal.g shall be upplied to the sums -"
<br /> -- securre��d by this Secudty Insuument. whether or not then due. with nny excess pnld co Borrower. If B�rrower abandons the
<br />-- Pcnperty.or dacs not answer within 30 days a aatjce fmm Lender that the insumnw carrier ha�offered tu settla a claim,then °
<br />-°��'�' Lender may collact the insumnce proceeds. Lender may use the proceeds to reputr or restore thc Property or to pay sums
<br /> `�� secured by this Secudty Instnrment,whether or not then due.The 30-day period will be�in when the notice is given.
<br /> Unless Lender aRd Borrower othenvise agcee in writing. uny npplication of proceed� to principal shall not extend or
<br />, postpone the due date of the monthly payments referred ta in paragruphs 1 und 2 or change the amount of the paymenu. If
<br /> under paragraph 21 the Property is acqui�eci by[,ender, Rormwer's riBht tn nny ins�uance�licie.a and procecds r�sulting from .___
<br />_ damage ta the Pruperty prior to the acquisltion shall pass to Lender to the extent of the sums�ecured by this Security[nstrument
<br /> immodisuely prior to the acc;uisitIon.
<br /> 6.Occupancy.Pneservat[on,Muintenunce und ProtecUon aP the Property;Borro�ver's Loup Application;i,cascholds. - -
<br /> Bormwer shall occupy. atablish,and use the Property us Borrower's prittcipai residence wtthin sixry days after the execudon vf
<br /> this Se�:udty Instrument u�d shall continue to occupy the Property as Horrower's pdncip�l residence for ut least one year after —
<br /> the date of occupancy, unless L.ender otherwise ugrees in writing,which consent shall nat be unreasonably withhald,or unless
<br /> extenuating circumstnnces exist which are beyond Barrower's control. Bo�wer shull aot destroy, dumoge or impair the �
<br /> ' �•` P�aperty. atlow the Property to deterioratc, or commit waste on the Pmper[y. Bonower shall be in default if uny forfeiture
<br /> , � ; ,
<br /> action or proceeding,whether etvil or criminal.is begun that in Lender's�ood faith judgment could result in forfeiture of the
<br /> r.''�:�.�'y Pmperty or otherwise maerially imp�ir the lien create�by this Security Instrument or L.ender's security interest. Borrower may
<br />. • �.'�"��3•,,� -
<br />.,. �
<br />- -�-�..�_�::��• , cu�e cuch n default and reinstate,as Qravided in Qaragraph IS.by causing the nction or proceedine to be dismissed with a niling �,
<br /> �� •- that, in [.ender's $ood f�ith determination, precludes forfeiture of the Borrower's interest in the Propeity or other matenal
<br /> `��{n�rt.r impairment of the lien cmated by this Security Instrument or Lender's security interest. Borrower shall also be in default if - .
<br /> • �,,.}.. .
<br /> ,; � u n�.�.l , Borrower,during the loan applicatiun praess.gave materially false or inarcurate information or statemenGc to L.ender(or falled --
<br /> • t:n �„
<br /> '�_ �Y��+�s to provide I.ender with any material informatioN in connection with the loan evidenced by the Note,including,but not iimited �'��
<br /> , .,�:''�,�:4 J�.. ..
<br />, :ti,; �,,,�. � � to,re presentations concemin g Borrower's occu panc y of the Pro p ert y us a princi p al residence. if this Securi ry Instrument is on a �
<br /> �``�:�'?�'l'-"�7�•i' leasehold, Borrower shall comply with all the provisions of the leuse. If BoRawer acquires fee tiNe ta the Property,the ���•'^.
<br /> �t h.f�F' 1�1, .
<br /> ;�� leaschold and the fee title shull not merge unless Lender agrees to the mer�er in writing.
<br /> •��''r��';;.;�';'.i�7� 7.Pesuiectton of L.ender's Righis in the Property. If Borrower fails to perform the covenants and agneements contnined in
<br /> ''� this Securiry Instrument,or there is a legal proceeding that muy significantly affect I.ender's rights in the Propeny (such as a ;'
<br /> `�'�"°"�°,° roceedin in bankru tc robate. for condemnation or forfeiture or to enforce laws or re ulations), then Lender ma do end
<br /> r�,�,.,..�-��;. P 8 P Y�P g Y �,.
<br /> % " ���'-'� a for whatever is neces to rotect the vulue of the Pro ert cu�d Lender's ri hts in the Pro rt Lender's uctions ma
<br /> ;i,���,�;: P Y �Y P P Y E Pe Y� Y
<br /> � .!�?�l'r, include paying any sums secured by u lien which has priority over this Security Instrument. appearing in court, payirig
<br /> ��`''"'�'"'-°r reasflmtble attorneys'fcxs attd entering on the Property to make repairn. Although Lendcr may take action under rhis paragraph
<br /> , ., "�"'''� 7.Lender daes not have to do sa.
<br />- • ' "''��` Any amounts disbursed by L.ender under this paragraph 7 shail become additional debt of Borrower secured by this '• ��
<br />'' :;� �=��'�•,`�. Security Instrument.Unkss Horrowcr and Lender agree to other terms of payment,these amounts shall bear interest from the
<br /> .:,..::1.:,,,,,,_:,�' dntc of djsbursement at the Note rate and shall be payable, with interest, upon notice from Lcnder ta Horrower requesting
<br /> � =<+'r; ;�::�' ' payment. ,,
<br /> ;�� �_.=`'�'i'-�'•�' 8.Mortguge insw�ttce.If Lender required mortgage insurance as a condition of makin�thc loan sccured by this Security �
<br /> - '•'F �„�"- • It�strument, Borrower shall pay the premiums required to maintuin the mortgage insurnnce in effect. If, for any reation,the
<br /> � � ��•,. .•'�• mortga�e insurnnce coveruge required by I.ender lapses or ceases ro be i�effect, Borrower shall pny the premiums required to
<br /> �`.:';t .; obtain coveruge substuntielly equiv�lent to the mortgage insurance pmviously in effect, at a wst substantially equivalent to the
<br /> _:���• .�x:.;
<br /> � •h.;� �,,;. cost to Borrower of the mongage insursince previously in effect, frum un uiternate mortgage insurer upproved by I.ender. If
<br />'� ;..'_- -�� -�•�'�� substantiatly equivalent mortgage insurance covernge is not avuilable.Borrower shall pay to Lender cach month a�um eyual to
<br /> '�„,..:`�;_?�::~;• one-twelfth of the yearly mort�age insurnnce premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> �;�;�;.�w;;�;,';:~, be in effect.Lender wiD uccept.use and retain these payments as u loss reserve+n lieu of mort�oge insurAnce. L.e�ss reserve
<br /> `p:::--• �'., '� Form 3028 9/90
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