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<br /> � erlods thut l.cnder rei uires. The insurnnca cnrricr ravidin the insurnnre shnll be chosen by Borrower subject ro Lcnder� �"�`�;".��-
<br /> approvul which tit►nll not Ge unrcasonably withheld.Pf Dorcower fnils to muintain coverage described above,Lender may, nt L' �'�4•::���-`�
<br /> -. I.ender's aptiun.obtain covernge to pmtect Lender's rlghts in the Property in uccordance with p3ra�raph 7. � ,����.�R�����
<br /> ., All insur►ncc palicies and rene�vnls shall be ncccptablc ta Lcndcr und shnll includc u stnndnrd mortgage clause. Lender -� '�:x��
<br /> shall h:►vc thc risht to I�old thc policics and renewals. If L.ender rcyuires.Borrowcr shall promptly give to l.ender aU receipis ? � '`��:�F�:,;��.i,i•°
<br /> �� � of paid premiums and renewal notices. In the event of loss,Hon•ower sh�ll give prompt notice to the insurance carrier and ' ��'� �-:�;PT�'`�-�':�--
<br /> : v i.�'t_''_. _-
<br /> � . Lender. Lender muy make proof of loss if not made promptly by Borrower. �'' ��:�s�`�:;:%:
<br /> Unless Lender and Borrcwer otherwise a�ree in writing,insurance proceeds shall be applied to restorntion or repair of .''='�''`"';°'�'—� __
<br /> [he Property damaged,if the restoratian or repair is economicaUy feasible and Lendcr'.s security is not Iessened. If t_t�c ?�,:; z,��„�n._�
<br /> restoration or re air is not economicall fcasible or Lendc:r:s sccueit would be lessened, the insurance roceeds shall be `�' ���`
<br /> P Y Y p it,��:�;_,.:� r.�,,-.
<br /> a p p l i e d t o t h e s u m s s e c u r e d b y t h i s S e c u r i t y I n s t r u m e n t, w h e t h e r o r n o t t h e n d u e, w i t h u n y e x c e s s p a i d t o 8 o a o w e r. I f �`�'�'�
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<br /> Borrower abandons the Property, or dces not :mswer within 30 days a notice from Lender that the insumnce carcier has mA-"=" _
<br /> offered to settle a claim, then Lender moy callect the insurance proceeds. Lender may use ihc;proceeds to repair or restore N1� �:---
<br /> the Property or to pay aums secured by this S.;c:urit}• Instrument,�vhether or not then due. The 30-day period will begin when �;'�1""�-
<br /> the notice is given. ��
<br /> �'.'-�Y.�--- .__
<br /> Unless Lender and Borrower othenvise agree in writing,any applicution of proceeds to piincipal shal! not extend or ,�;',;�,;:-L.
<br /> ,�.i�� �.A9A1�
<br /> posipone thc due date of the monthly payments referred to in paragraphs 1 and 2 or change the arr�ount of thc payments, (f r�_r,:;..
<br /> -�t� .:, . ...
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to anY insurance policies and proceeds resulting -- �
<br /> from duma c t�the E'�o en rior to thc ac uisition shall ass to Lender to thc extent of thc sums secured b this Securi "�ti�.-.
<br /> S P Y P 9 P Y ty a� f•.-�n.,`-
<br /> Instrument immediately prior to the ucquisition. �;,1'�'���"'°_�
<br /> 6. Occupnncy, Preservntton, Mnintennnce and Protection of the Property; Dorrovier's Loan Appl�cation; .,�__.,�
<br /> L,enseholds. Bottower shnll occu establish,and use the Pro ert us Borrower!s nnci ul re5idence within sixt da s after ';-_—_
<br /> , PY� P Y P � P Y Y ,.:�;--_—
<br /> ° the execution of tliis Securiry Instrument und shall continue to occupy the Property as Borrower's principal residence for at -
<br /> Icast one ycar i►fter ihc date of c�ccupuncy, unless Lcndcr othcnvise ugrces in writing, which wnscnt shafl not be 's�� _
<br /> unreasonably withheld,or unless extenuating circu�nstainces exist which are beyond Borrower'.ti control. Borcrnver shall nut -
<br /> desiroy,damage or impair thc I'ro��crty,�dlnw ihc Property to deteriorute,�r commit wustc on the Property. Iiarrowcr tihall :a•
<br /> .. - bc m detau�t it uny fortciturc nction or procccciing, wnc[ncr civii ur eriminul,ii ot:guu iiuti m LGIIUCI J�ttUS iiiit,i juug�i�cit �,���:
<br /> could result in fcxl'citurc uF thc Praperty nr othcrwixc mutcrinlly impair dtc licn crcntcd by this Sccu�ity Onsuwncnt or ,
<br /> � Lender's security interest. Hurcower nury cure tiuch u defnult und reinstute,ns provided in pangrnph 18,by cuuxin6 the uctian ,
<br /> , or procecding to ix dismis,ed with u nilin�thcu,ii� Laider's good faith detenninution,precludes forfeimre of the Borcowerk
<br /> intcrest in the I'roperty or ocher matcriul impuimient of thc licn creuted by this 5ccurity Instrument or I.endcrk security _.
<br /> intcrest. Borrowcr shall also bc in default if Borrower, Juring thc loan applicutinn procesti, guvc materially falsc or ''��
<br /> inuccurate inforntation or stutements to Lender(ur fuiled to provide l.ender with any materiul information) in conncction with ��
<br /> ' tl�e loan evidenced by the Note, including, but not limited to, representations conceming Borrower's occupancy of the ,�_ • �,
<br /> �� Property as a principal rc:sidcnce. If this Security[nstn�ment is on a leasehold,Borrower shall comply with nll the provisions
<br /> . of thc tease. ]f IIorrowcr acquires fee tide to the Propeny,the leasehold and the fec title shall nat mcrgc unless Lcnder a�rees �
<br /> to the merger in writing. �r ri.
<br /> 7. Protect[on oP Lender's dtlghts in the Property. If Bortowcr fails to perforrn the covenants and agreemcnis • .
<br /> contained in this Security Instrument, or therc is a Iegal procecding that may significantly affect Lender's rights in the ����� ;�---•
<br /> Property(such as a proceedinb in bankruptcy,probate,for wndemnation or forfeiture or ro enforce laws or regulations),then �� :�� ��'�"'1` -
<br /> � � Len der may do and pay for whatevcr is necessary to protect the value of the Pro pert y and Lender's rights in thc Pro perty. •.:;� �r•' y�,
<br /> Lender's actions may include paying uny sums secured by a lien which has priority over this Securiry Instrument,appeari ng ='! -
<br /> ' in court,payinb reasonuble uttomeys'fees and entering on the Property to make repairs. Ahhou�h Lcndcr may takc acti on ' ' �
<br /> under this pur.igraph 7,Lender does not have to do so. ;��r
<br /> Any amounts disbursed by Lender under this puragraph 7 shall become additional deb*_ of Bortowcr secured by this �
<br /> Security Instn�ment. Unless Borrower and Lender agree to othcr terms of puyment,thesc amounts shall be:ir interest from the �;
<br /> date of disbursement at the Note rate and shall be payablc,with interest,upon notice from Lender to Borrower requesting , �%
<br /> , � payment. y�, ' �"`
<br /> , 8. Mortgnge Insurance. If Lender required mortgage insurance as n condition of making the loan secumd by this , '�5"'
<br /> r . Securily[nstrument, Borrower shall pay ihe premiums requimd to maintain the mortgagc insurance in effect. If,fnr any �
<br /> reason, the mortgagc insurancc covcrage reyaiicd by Lender lapses or ceases to bc in effect. Bomower shall pay the
<br /> • premiums required to obtain coverage substuntially cyuiv,�lent to the mortgage insurance previously in effect, at a cosi .
<br /> substantially cquivalent to the cost to Borrower of the mortgage insurance previously in effect,from an alternate mongsgc
<br /> insurer approved by Lender. If substantinl ly eyuivalent mortguge insurance coverage i�not available,Borrower shall pay io �
<br /> Lendcr each month a sum eyual to one-twelfth of the ycarly mortgage insurance premium being puid by Borrowcr when tlx �
<br /> ; insurnnce covernge lupsed or ceased to be in effect. Lender will aceept,use and retain these payments as a loss reserve in lieu I
<br /> ,, '� of mortgage insurance. Loss rescrve payrnents muy no longer be reyuired, at the c�ption of Lender, if►�ortgagc insurancc
<br /> covera�e(in Ihe amount and for the period tnat Lendcr rcquires)provided by an insurer approvcd by Lendcr again becomcs �
<br /> ` nvuilnblc And is obtnincd. Borcowcr shall pay thc premiums required to maintain mortgagc insurancc in cffc�t,or to providc-a
<br /> loss reserve,until the reyuircment for mortgage insurunce ends in accord�nee with any wiitten agrecment betwcen Borrowcr �
<br /> � and Lender or applicable law. -
<br /> - 9. Inspection. Lendcr or its agent may makc reasonablc entries upon and inspections of thc Propcny. Lendcr sh.dl
<br /> give Borrower notice at the time of or prior to an inspeetion specifying reasonable cause for the inspection.
<br /> 10. CondemnAtlon. Thc procecds of any a�vard or cl.vm for damagcs,dircct or conscyucntial, in ronncction with any .
<br /> � c�nolo F,�nil�__I.l...nln Mnul[1�alAln M1Snr IINtGCIRM INSTItUMGN7'•-llnifoim Covcnantc 9/90 /�mnr d nfA nuc�t1 '
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<br /> � Gmat Inin tluelncss Vams,Inc O �
<br /> - ToOrdc Catl:1-t1WG3P9303 0 YAx Ofli�791•1171
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