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<br /> �" -�- ==� 5: H�ud or�gerty �s�trttac� BortoNer shaU keep the improvemeats now existing or hereaf�er erected an_the
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<br /> __ �:•°.�:. � Pcaperty insnr�against toss by�ire.haTards i�ctuded arithin the term "exten�covera�,e"and any othes'hazards,ir.cEudia�.
<br /> 2: -,Y :•-: flaods as ftgadinD.�for which i.ender�ulies iasuranoe..'fhis insurance shal�bc mtiatained.ln ttie amounts and far lhe per€ods
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<br /> _!;¢.�.,,�, .,�,.��,;�. t�t Lender requues.Ttte insurance ca�trier prnvidin�the iASUrance shall be chosen 6 Botrotivcr sub ect to Lend�r's mval
<br /> _``--?,,.`._�" ,�:...:�,.; . whied s3�all not 6e u�easonably witl�heid. [f Bnnower faits td maintain cflvera�e descri6ed ubove. LeuQer may,aY Le�der's �_
<br />�-�; ;`: .,��:• �:. � updon.a6tain cover�ge to pm►ect Leader's re�hts ia the E'roperty in accordance with paragraph 7. ` ^—
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<br /> � , s ` At1 insuranoe policies aad r�newals shalt be acoepta62e to Lender and sha1l i�clude a staadard mortga;e clause. I�tder_
<br /> 1�� '- 4�c. �_ sbaZ!6ave ths right to hold the pulicies and rene�vals.If Lender requires,Borrower shall promptEy glve to Lender all receipts of �
<br /> "a •,�.. _ .:; . - •
<br />: ;• paid premiums ar.�iencwa!notices.In the event of loss.Bormwer shall give prompt n�tioe to the insurance carrier and Lead�r
<br /> ;�'--:.�',- �.;.'�':� ,`,`. I.ender znay make proof of tos if not made promptly by Borrower. . � .
<br /> :�;ti.; ' -:• -. ' Unless I�nder and Borrower otherwise agreE in wr.iting,inm�ncQ procexds shall be applied ro cesio�suon or rep�of tl�e �
<br /> �-°,-``..� �-._-`.'• if the r�storation ar repair is economic�lty feasz'6Ie and Lendea's secarity.is nn2.l�s�.If th$restomtian or
<br /> . ��-:.r".,. PcoPertY d�naged•� a z
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<br /> .,;- . . ° .:.` � . repair is not econamically feasible or I.endds secarity would be Iesseued. the insurance proceeds shall be apgl�ed to ttte sums
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<br /> , , • secur� 6y tlris Secutity Instrament, vrhether os naY then due,with any exc�ss paid t�Sorinwet. If$arroms atsand6ns ttte
<br /> -�-�~;�f �'A�.�',� �>_ I�ropc.rt}r,or does not answes wiihin 30 days a notice from L.ender th�the�iusura�car[isr has offerec!to settte a Claim.thc� ,
<br />' '��_:...� ; �nder may anlled the insuranoe praceeds. Lender may use the.pracecds w repair Pz t�tvre tbe Fragerty or to Pa1I � ...�,:;
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<br /> i:�rsred by d�-�u�►ty Insugn►eut,whetfier or not then due.'fi�3�Y Per�od w►�1 begin vJh�t�e uatice is given, ,
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<br /> s ,s�.;...,4;: . � ..: UnI�s r �':. and R w�`�eawer ot4erwise agree in.writ¢[g,��.�plication of proceeds'G.���anciPal.st�all nat exc�ts,�', ,
<br /> ���f��f �, . . `����e��*.;,.��ai�iiis a*.ontiily payacents refercc'��:o ia par�fu 1 and 2 or�t�re�'..c�csf�;'ze Faya�-'1�� '
<br /> .��;�� >�,•;� ���'" . ���;=�r`�2F.�.:.F�y is�y;r�by LRnder,Borrtiwer's right to aay insutanoe pol���al g�roc�eds i�esutt���
<br /> • �:,,�'.,<�`•� {;'`,.`"�" damage to�:.�'opertY Priar to the acq�eas's�ion shall pass to I.ender to the extent of the s�s se�ed 6y tIus Secarity In�nv�tt
<br /> . >
<br /> � ,' . '�� immediately prior to the acquisition. .
<br /> I.�, .. � .. 6.tkcapaacY,Pres�vaifoa.Mafrtenance.aa�dYmtection of tIle.Etopeity;Borrawer's Lo�a AppIie�t[on:�iotds• `.
<br /> :.�._• ::, .•,' ! <'I''�� Barrower shall accupy.establish,and use the Propercy as Borrower s principal residence witUin sixcy days after thc ex��arion of�
<br /> ': •r. �.�:.�,� this Security Insmiment and shall oontinue to accupy the Propetty as Borrower's principal residenoe far at Icast tfne year after ,
<br /> , ���.` �� the date of occupancy.unless Lender otherw�se agrees in writing. whirb aonsent shall ttot beunna�nably withhetd,ortuiless •
<br /> - _:-,__--- _' eatenw3ting circumstancec exist which ar� 6eyond Barm�r's control. Borrawer shall not desuoy. damage or imQair t1�' •
<br /> .' . , • , �`�!� Praperty. allow the ProQerty to deteriorate, or commit waste on the Property: Borrow�r shall be in default if any forfeiture
<br /> • � • � ctction or pmceedins. whether civil or criminal.is be�n tpat in Lender's good Paith judsment coutd result ia forfelture of the
<br /> � • . � � Property or othenvise materially impair the lien aeated by this Security Instnvmeni or Lender's sr.cw[ty interast.�orrower may .
<br /> • � cure s�sch a de€auit and reinstate,as provided ia paragraph 18.by causing the aciion or prooeediag to be dismisse�l a+iu►���8
<br /> � ; � �� � that. in Lender's good faith de'termination. preclud�.s�`orfeiture of the Boaower s interest in the Froperty or other matesiat
<br /> ' � . . , ianpairment of the lien created by this 5ecurit}t Instrument or Lender's security interest. Bonower shall also 6e in defaiilt if
<br /> Botrower.during the loan application process,gave materially falsa or inaccurate information or statements to I.ender(or faitpd
<br />".� ;� .�� � • to pravide Lender with any material infom�atlon)in connection with the loan evidenced by the Nate.tncluding,but nat li�ted
<br /> . .. �. � to�representations conceming Borrower's accupancy of the Property as a principal aesidence:if tlsis Security Instnunent is on a
<br /> . leasehold. Horrower shall comply with all the provisions of the lease. Ii Borrawer acquires fee title to the Property, �.he
<br />,; �� � � � leasehold and the fee tide shall not merge uniess Lender agrees to the merger in writing.
<br /> . � . 7.Protection of I.ende�'s Rights in i�e Pcopertq.If Borrower fails to perform the covenams and agreements contained in
<br /> . ... tlris Security Imswment.or there is a legal pracee�mg that�y significamly affect Lender's rights in the 1ProperiY(such as a
<br />-- ' �. •'' . .5,;1 pmceeding in bankcuptcy.probate, for wndemnatifln ar forfeiture or to enforce laws or regulations),the�i,�nder may da aad
<br /> . ,. �. ,:<.
<br /> ' `�.',' pay for whatever is n..cessary to protecz she value of the Properry and Lender's ri�hts in the Jl�rr.:perty. Lender's actian�:�y
<br /> ;•: .'�• `;.�c . .�;..: n in court. �i�r-%ng
<br />'-��,-;.s:.,;�,'_.;•:-.�.. ,. iaclude paying any snaLC secured by a lien which has•prioriry over this Security Insmuneaa, appeari B
<br />'` a . seasonable atta�neys' fees and entering on the Property to make repaus.Although Lender may take action ander this pac�'!agh
<br /> • �� � `�� `� � 7,Lender does not have to do so.
<br />_ .�•� •� � Any amounts disbursed by Lender under this paragraph 7 sIz�ll become additional debt of Borrower secured �ik�ihis
<br /> '; ••� � � Security[nstr�ment. Unless Borrower and Lender agree to other t�:m.�s of payment.these ara�iunts shall bear interes4 Crr�the
<br /> ,�ti ' ' .
<br /> clate of disbursement at the Note rate and shall be payable, wit[4 6rnerest, upon norice from I.ender to Borrower re�esring
<br />�:�� .. � . � payment.
<br />. _r . _ ,. S.Mortgage Insurance.lf Lcnder requireG rreortgage insurzr.ce as a wndition of making the loan secured by this Secvrity
<br /> ��` � � . � Instrument. Borrower shall pay the Rremiums required to maia=.�n the mortgage insurance'in effect. If,.for any reason, the _
<br />_:��, . ' •� martgage insurance coverage required by l.ender lapses or ceases¢a be in effect.Borrower shall pay the premiums required to
<br />�,�• . • � abtain coverage substantiaDy equivalent to the mortgage insurance previously in effect.at a cost substantially equivalent to the . _
<br /> � � � �� wst to Borrower of the mortgage insurance previously in effect. from an alternate mort�age insumr approved by Lender. if �-
<br /> '• �� ' substantisilly equivalent mangage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to =
<br /> . � . one-twelfth of Ei�e yeatly rrtortgage insumnce premium 6eing paid by Borrower when the insurance coverage lapsed or ceasad to =
<br />�` '�� �,• .., • . '
<br />_,i:;�' ' be in effect.Lender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. i.ass reserve ._
<br />— � ' ' Farm 3028 9/90 `
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