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<br /> _4_.5n: "� , 5. �1azard or Fro�erty insurn�zce. Elorrower sh�ll lceep tht impravements now existinB or t�ereafter erectcd on the
<br /> �'���•�'��=+ ���- � F�ru en msured a atn5t luss b fi�::, ha�,lyds includecl within lhe ierm "extended c�verago" nnc�any other hazards. i�cluding
<br />�:..•�t . •: r:.� P Y � S � Y
<br /> s,. , Ilciods or ilooding, for wliich Lcnder requires insurnnce. Tl�is insurince shall be maintaincci in the amounts nnd for the periads
<br /> ���.:E�_L;�.�_.�.
<br /> _ �es.� thut I.,citdcr r�quires. Thc insurance carricr providing thc insurnncc sh111 be chosen by Hnrrower subject to L.cncfer's upproval
<br /> _„,-:_�=_-;�--_,r
<br />- • which slr,dl not bc unrcasonably �vitl�hcld. If Borrowcr fails to maintain rnvcnge dcscribed ab�ve, L.ender muy,rit Lender's
<br /> .• .,,
<br /> __�'° " ' � ` o tlon, ubtuin covcra c to �otcct Lcndcr's ri hts in thc Pro ert in accordancc�vith ai�a ra h 7.
<br /> —�����;�,�'n2�`r P S p' G P Y p � P
<br /> .,-T.;•-,;` . .. All in4uinnce policies and renewals shnll be acceptable to Lender and shall include a standard mortgage clause. L.ender _
<br /> � , shall h:�vc thc riglit to hold the policics and rencwals. If Lcndcr rcquires,Borrowcr shall promptly give to Lender all tcceipts of
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<br /> p�id premiums ansi rcnewal noticcs. In the event of loss, Borrower shaU givc prompt notice to the i�surancc carrier and Lender.
<br />=`;�� � Lendcr may makc proof of loss if not maJc promptly by Horrowcr.
<br /> . •� .. Unless l.cnder and Borrower othenvise agrce in�vritin�. insurance procecds shall be applicd ro restoration or repair of the
<br /> :g.�.., Property da�ntiged,iF thc restoration or rcpair is ccanomically feasible and Lcnder's security is not Iessened.ff the restoration ar
<br /> �T ,. ' ' , � rcpair is not cc�nomically fcasiblc or Lcndcr's sccurity would be Icsscncd,thc insurance procceds�hall be applied ta the sums
<br /> �" secured by this Securiry Instrum�nt, whether or not dien due, with any excess paid to Borrawer. If B�nower abandons the �
<br /> � ° • � Property,or does not answer within 30 days a notice from Lendcr that thc insurance carrier has offered to scttle a claiai, then
<br /> � .� ' � I.ender may collect the insurance procecds. Lender may use the proceeds to �epair or restore the Property or to pay sums
<br /> � � "�'� � sccurcd by this Sccu�ity Instrument, whethcr ar not thcn due.The 30-dny period will begin when the notice is given.
<br /> ��, .°', :" �. � ° I tnle�s l.cndcr nnd Aorrower othenvise agrec in writing, any application of procecds ta principal sliall not extcnd or __
<br /> � postpone the duc datc of thc manthly payments referrcd to in paragraphs 1 and 2 or changc the nmount of tlie pnyments. If
<br />;'�'�� .;. under paragraph 21 the Property is acquirui by L,cnder. Borrower's right to any insurance policies�nd proceeds resulting fram
<br /> , damage to thc Property priur to thc acquisition shall pass to Lender io the extent of the sums secured by this Security Instrument ;-
<br /> ��
<br /> ., +-• � irnmeciiatcly prior to thc acquisition.
<br /> 6. uccupancy,Preservati�n, Mnintenance nnal Frotectian of the Property; Dorrower's Luan Appl[cutlon;I.enseholds.
<br /> � ° Horrower shall occupy,establish,and use the Property as Borrower's pr:ncipal residence within sixty days afterthe execution of
<br /> '` . this Security Instrument and shall continue to occupy thc Property as Bonower's principal residcnce for at least one year after _
<br /> � thc datc of occupancy, unless T..ender otherwisc agrccs in�vritin�, which consent sh�ll not bc unreusonably withheld,or untess
<br /> extenuating circumstanees exist which are beyond Borrower's cantrol. Borrower shall not destray, damage ar impair the
<br /> . ' Property, allo�v the Propeny to deterioratc, or commit waste on dic PropeRy. Borro�vcr shaU be in default if any forfeiture
<br /> _. action or arnceedinc. whether civil nr criminal. is Beeun that in L.ender's t;uod faitn jud�ment could result in forfeiture of the
<br /> �„ Property or otherwise matcriuUy impair the licn crcated by this Securiry Instrument or Lender's security interes�. Borrower�nay -
<br /> cure such a default and reinstate,as providcd in para�raph I 8, by causing the action or proceeciing to be dismissed wiih a ruling
<br /> �`'��.�' that, in Lender's good faith detern�ination, precludes forfeiwrc of the Borro�vcr's intcrest in the Property or other materi�l
<br /> , �.�,. impairmcnt ��f thc licn created by this Security Instrument or I.ender's sccurity interest. Borrowcr shall also be in default if
<br /> Borrower, during the loan application process,gave►natcriully falsc or inaccurate information or statements to Lender(or failed
<br /> ��;•.�. - to provide Lender with any material information)in connection with the loan evidenced by the Note, including,but not limited
<br /> �'•°�'" ��• ' . �• to,representations concerning Borrower's occupancy of the Prnperty as a principnl msidence. If this Security Ynstrwnent is on a
<br /> ' •- �• � Icaschold, Borrower shall comply �vith all thc pmvicions of the lcase. If Borrow�r acquires fee tiNe ro the Propeny, the
<br /> ",' ' Icasehold and thc fee tidc�hall not mergc unlcss C.endcr agrecs tn the mcrgcr in writing. . �
<br /> " � ° 7.Protect[on of I.ender's Rlghts in the Property. If Borrower(ails to pcd'orm the covenants and agrcemcnts containcd ir{ —
<br /> i' , this Security Inst�vment, or there is� legal proceeding thnt may significandy affect I.ender's rights in the Property (such as a --
<br /> - � . proceeding in bankruptcy, ptobate, for condemnation or forfciture or to enforcc laws or regulations), then Lender may do and
<br /> ' ' pay for�vhatever is necessary to protect the valuc of the Propeny and Lender's rights in the Property. I.ender's actions may
<br /> � includc: paying any sums se:cured by a lien which has prioriry over this Securiry Instrument, appearing in court, paying
<br /> reasonable attorne s fccs and enterin on the Pro ert to make rc airs. Althou h L,cnder ma tnke action under this ara ra h '"�
<br /> �`�•'' Y � S P Y P 6 Y V S P I�*
<br /> '� f 7, Lender does not h�ve to do so. --�
<br /> . '.. . Any amounts disbursed by L.cndcr undcr this paragraph 7 sl�all bccotnc additionul dcbt of Borrower sccured by this ���
<br /> �._.
<br /> v , Security Instrument. Unless Borrower and Lendcr agrce to othcr tcrms of paymcnt, thcsc amounts shall bear intemst from the ?;.;,
<br /> `- date of disbur�emcnt at the Notc ratc and shall be payable, �vith interest, upon notice frotn Lxnder to Borrower requesting
<br /> �
<br /> � . ., ' '' p•�yment.
<br />_ - . � 8.Mortgu�e Insurance. If I.ender required mottgage insurance as a condition uf making thc loan+eeured by thi�Security
<br /> . ' Instrument, Barrowcr shAll pay thc premiums required to maintain thc nwngugc insurance in effect. If, for sny reason, the
<br />� mortgugc insurnncc covcrig�requircd by L.endcr lapses ur cwscs to bc in cffcct. Borrower shall pay the prcmiums rcyaired to � ,
<br /> ��� � obtain a�vcragc substantially equivalent to the mort�age insurance prcvii�usly in effcct,at a cost wbstantially eyuivalent to the
<br /> t cost to Borrowcr of thc mort a c insurancc rcviousl m cffcct, From an altematc mnrt a c insurcr a mvcd b Lcndcr. If
<br /> s"S P Y � € F PP Y
<br /> i,� substantially cquivalent mongage insurancc coverage is not availablc,Borro�vcr shall pay to Lendcr cach mi�nth a sum cyuul to
<br /> � one•twelRh of the yearly mon�uge insurancc pirmium bcing paid by Bc�rrowcr�vhen tttc insur,�nra rovcragc lapsed or c�;ised to
<br /> , ° be in effect. l.cnder will accept,use and retuin these payments as a loss res�rve in lieu of mortgagc insurance. Loss reservc
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<br /> t _ Form 3028 919Q j
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