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<br /> , S. C�u;rn�•d e�r 6°i•aEz.���+ 9n:unists�c. Ilnr���i�scr sh�il! [;ccp thc impravcmc;tls Ii014 cxistins oi• Itc;c:tft�� crcctcd un tl�;: �=-
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<br /> rt;'.'�`�,x1.. M,; ;. Prnperty intiured a�ah�;! los�: by �re, haru•dti ineludal within the t�rm "extended c��veea�;e" and any��hc:�•9�nrards. i�icludin�
<br /> -�-����:_-� -- floods ur ilonding, f'or�vidch I.cn�icr rcquires insurancc.'I'his in,ura�ire shnll bc rn�intain�*�I in�hc nmout�ts�Qitcl for the periuds
<br /> - _�',�z:°T:��''� thut I�:ndcr rc��uires. 'nc� insurnnrc cai•ricr pr�vidin1j tlic insurc�nre sl�al! hc chnscn fyy[inrruwcr subJcct io lAndcr's iq�{��ruvnl
<br /> v '.i�J"��°'�'���--� whicii tihnll nol be unrcasonably withi►cld. if Hurro��rr fail:;a� m:dntnin covernge dcscribcd uGcive. I.e�nder ��iay, ut L.encier's
<br />--'-'r���*�.�±*�:��` o{sdon,obtnin covcra,r,c to protcct I.cndcr's ri�hts i►i thc I'roperty in uccordnncr with paruud•aph 7.
<br />- ._�:�.�r�� All insur.mcc pnlicies und renc�vt�is shnll be aa�ep�nblc lo L.ender nntl sliall inciudc ii stnndard n�angage clausc. l.ender -
<br /> - _�,�,.�;��,�-
<br /> shi�ll hnvc Ilic ri�;ht to hotd die policles un�i renewids.If l.encler requires, Borrowcr shall rruujptly give to l.ender nll receipts of
<br />°';�'�9:";S*'�S �' ; paid prcmiums and rencwal nuticcs.In ihc cvent of loss,Bnrrn�vc►'sl�nll givc prayipl ni�dcc to thc insumncc carricr and Y.c;ndcr.
<br /> -�::__,��;!.:..�. _
<br /> o:r.:.?RS�tY y *?`.i:; L,�ncicr may makc proaf of fo5s if not madc promptly by Borrowcr.
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<br /> �'-�`fq'��t �;� 9, :� . Unlcss I..ender and Horrawer othe�wise a �ee in writin .insurancc racceds shall be � I�cd to restor:itl�n or r� �ir of die
<br />?;'°';,';.C_�• 8' S p PP , �..
<br /> ==����3t�:�__;�::_,::.'i Property damaged,If thc resromtian nr rcpair is cconomically fcasible nnd Lcnder's eecurity fs�iot Iessc�ie�.JF tl�c restomtion or
<br />-.:.��x f4't5•,•�•.- �� � re air is not economicalt feasible ar I..cnder'S securit vwuld be Iessened,the insuraeue proceeds sliall bc upplied to the sums
<br /> rt�4...ic.,-, p Y Y
<br /> v�:��a��'Y:':������ secured by this Security Instnun�nt,whether or not then due, with ;tny exccss paid to IIorrower. Tf Horrotiver nbandons the
<br /> �.`^"''��F�';:i``'� � Property, or does not wns�ver wlthin 30 diiys u natice f'rom Lender that the insurnnce earrier h:�.c offered to s�ttle n claim, ttten
<br /> t� � � �� I.ender may collect ihe insurAnce proceeds. Lender muy use�he proceeds to rep�ir nr restare the Propeny or to pay sums
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<br />-':,�..-{��•}'�;,.;�..,..y .
<br />_:,;;,�,;,4�.'.;� ;;,.� sccured by this 5cc�!rity Instn►me�u,whether ar not thcn duc. The 30-day period will begin whcn thc notice is givcn.
<br /> �"'°'.`-"'�' "'��' Unless l.ender and Borrower othenvise agree in writing, any upplication of proceeds to principal shall nat extend or
<br />—,?"=�N,u����;J4-•��J�4 ost one the duc datc of thc monthl —
<br />_ - :�'� . P P y paymcnts referrcd to in paragraphs I and 2 or change tl�e nmount t�F the p�ymen�s, If
<br /> ���'"� under par�graph 21 the P�operty is acquircd by I,cndcr, �orrower's ri�eht to uny insurance policics and proceeds resultins from
<br /> •. ��:�»:.•:' ..
<br /> ';yti;,i,�',;�,�;;•-`+_� damage to the Property prior to the acquisition shitll pass to Lcnder to thc extcnt of the sums secured by this S:curity Instiument -
<br />_ ' ,. immediatcly prior to thc acquisition.
<br /> ''�'��t��(�,•rr►':• . 6. Occupancy,Nreservntion, Mafntenancc�nd Protectton of the Firoperty; Dorrower's Lonn Applicatfan;I.easeholds.
<br /> °���"n�` � Borrower shall occu P y• p P y Y
<br />_ ,, • py, establish, and use the Pro ert as Aarrower's rinci al residence within sixt dn s after the execution of —
<br /> _- ';i•�e�-.•... this Securiry Instrument and shall continue to occupy the Property as Borco�ver's principal residence for at least one ye.1r ufter
<br />-"�i ' the date of occupancy, unless Lcnder othenvise agrecs in writing, which conseiu shall not be unrcasonably withheld. or unless
<br /> � �"`' '�''� ' extenuating circumstances exist which are beyottd Borrower's control. Borrawer shall not destroy, damage or impair the
<br /> • Property, allow the Propeny to detcrioratc, or commit wastc on the Property. �orrowcr shall be in defuult if any forfciture
<br /> �'`'' " nction or proceeding, whether civil ar criminal, is begun tliat in Lender's good faith judgment could result in forfeiture of the
<br /> '•� . � --
<br /> -� ' ' - Property or othenvise materially impair the lien created hy this Securitv Instrument or L.ender's securitv interGtz.Borrower mav
<br /> • . cure such a def�ult and reinstate,as provideci in paragraph 18, by causing the action or proceeciing to be dismissed with a ruling
<br /> ' , . � thAt, in Lcnder's good faith detcnnination, precludes forfeiturc ��f thc Borrowcr's intcrest in thc Property or other macerial
<br /> " ' ., impairrr�ent of the lien created by this Security Instrument or L.ender's security interest. Borrower shall also be in defuult if
<br /> Borrower,during the laan application process,gave m�terially false or inaccurate information or stutements to Lender(or failed
<br /> • . to provide l,ender with any material infonnation>in connection with the loan evidenced by the Note,ineludin�,but not limited
<br /> to, representations concerning Borrower's occupancy of the Property as u principal residence.[f this Security Instrument is on u
<br /> =:-,-.,;��4�;..,,�' leasehold. Borrower shall cornply with a(I the provisions of the lease. lf Borro�ver acquirex fee title to the Property, the
<br />_ . ••��;.�< � Ieasehold and the fee title shal l not merge unlcss Lender agrces to the merger in writing. �;
<br /> -•�••y+�� • 7. Protection of Lender's Rights in the Property. If Bonower fuils to perform the covenants and agrecments contained in ��
<br /> _... ,,„:,,� y � P 8 Y -�S Y a f--
<br />-. ., . this Seeurit Instrument, or there is a Ie al roceeciin that ina ci nificantl ffect L.ender's rights in the Property (sueh as a
<br /> ....._. _. proceeding in bankruptcy, probate, for condemnation or forfeiture or to enfurce laws or regulations), then Lender may do und F'a
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<br /> ,.:,�,;,�.:� , pa y fo r w h a t e v e r i s n e cessary to pro tec t t he va lue o f t he Property an d L ender's rights in the Propeny. Lender's actions may �.�,_
<br /> .--;:,.. .n,,.. include payin� any sums secumd by a lien which has priority nver this Security Instrument, appearing in cnurt, paying
<br />��•�,�-� � reasanable atrorncys' fees and cntering on the Property to make repairs.Although Lcndcr nmy take action under this paragraph %-'
<br /> _ • • 7,L.endcr does nat h��ve to do so.
<br />_- ' Any amounts disburse.�i by Lender under this paragraph 7 shall become additional Jebt of Borrower secured by this ���;
<br /> - Security Instrument. Unless Borrower and Lender agrce to other terms of payment,thcse amounts tihall bcar intcrest from the
<br />_ ^ date of disbursement st thc Note ratc and shall be payable, with intcrest, upon notice fram Lender t� Borrower requcsting '
<br />� ' .. . paymcnt.
<br /> .,,
<br /> 8.Murt�;age Insuranee. If Lender �•equireci mortgage insurance us a condition of making the loan secured by th�s Security �~'
<br /> Instrument, Borrowcr shall pay thc prcmiums required ro maintain thc mortgagc insurancc in cffect. If, (or any rcason, the
<br /> `� �� mongage insurance coverage reyuired by Lender lapsrs or ceases to be in eff'ect, Borro�ver shall pay the premiums required to
<br /> � � obtuin coverage subst�ntially cquivalent to the mortgage insurance previously in effect, at a cost subctantially equivalent to the
<br /> cost to Borro�ver of the mortgage insurance previously in eftcct, from an alternate mortgage insumr approved hy L.ender. 1f
<br /> � • subscantially cquiv��lcnt mortgagc insurancc rovcr.�gc is not nvailablc, Borrowcr shall pay to L�:ndcr cach manth a swn cyuat to
<br /> ane-twelfth of the yearly mort�age insurance premium being paid by Borrowcr when the imur,incc rovcrage lapsed or ceaseci to
<br /> ^�y � ' be in effect. L.ender will accept,use and retain these payments as n loss reserve in lieu of mortgage insurance. Loss reserve
<br /> �: .
<br /> �- �'• Form 3028 9/90
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