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<br /> for tho periods thut[.cndcr rcquires.'It�o insumncc carrlcr proviaing the Insurcnce shaill bc choscn by Horrowcr subjcct to ;
<br /> Lcatdet's appnnvnl which ehall no� b� unre�onably withhcld. If Borrower falls lo mnintain covcmgc dcscribcd ubavc,
<br /> L,cndcr rnay,nt l,cndcr's opdo�.abtUin covcrngo to protoct I.ctidcr's rights in tha Property in accordar�ce with paragraph 7. , �
<br /> All insuranco pallelcs and renewul�shall bo occeptnble to I.ender and shnll includo a stnndnrd mortgnge clnuse.L.endcr �'
<br /> eh�ll h9vo Ihe rlght ta hold tha polk:ics ond m,newals.If l,cndcr requires.Boaowcr shnll prompUy givo tn Lc��dee all eaceipts •
<br /> nf pald prcmiums md renawaJ noticcs. In iho ovent of lass,Eiorrower stutU givo prompt notica to dio insumnce carrier Qr►d �.�
<br /> L,ca�der,L.cndcr moy makc pmof of loss if iiot made prompdy by Borrower.
<br /> Unkss E,.c�idcr und Borrawer nthcrwise agrce in wrldng.insuranca proceecls shall ba upplied tn mstor�tion or rcps�ir of i .
<br /> t1�cs property d�nuige�t, 14'the restoradon or repair iv ecanomically feasiblo nnd Lender's securlty is not lesscr�.,d. If thc � .
<br /> nestorotion or repuir is not economic,�lly fe�sible of L.ender's socurtty would ba lessened. tho insurnnce proceede shall be �
<br /> ugplied eo Ut� sum� sscured by this Securlty Instsument, whe�her ar not then due,with s�ny exc�ss paid to Borrower. Jf �
<br /> Bnrrowcr abandona the Prnperty,or daes not answer within 30 days a nodas Prom Lendca that the insurance carrlcr has j
<br /> offered to settle a claim,then Lender may coUoct the insuranc4 proceeds.L.ender muy use the proceeds to eepatr or restore I „
<br /> tD�e Praperty or to pay sums secured by this Securlty Instrumer.t,whether or not then due.The 30-day period will begin �
<br /> when the nodce is given.
<br /> Un1ess Lender and Dorrower otherwiae tigree In wcidng,eny application of proceeda to principal shall not eatend or � , .
<br /> postpone the due date of the monthly payrnents refcared w in puragraphs 1 and 2 or chunge the amaunt of the payments.If _ „
<br /> undei paragraph 21 the Property is acqulred by Lender,Borrower's dght to any insuranc�polkies and procceds msuldng �
<br /> from damage to thci Properry prior to the acquLsidon shaU pass to Lender to the exter►t of the sums secured by[hLs Security j ,,, ,,;,-
<br /> Instrurr�t immediately prior to the acquisitbn. '�
<br /> 6. Occupauey, Freservation, IvietntenAnce and Protectlon ot the Property; Borrower's LoAn Applic�ttom � ' '�:�
<br /> Le�sel�olds. Bonower shall occupy,establish,and use the Properiy as Borrower's principal residence withIn sixty days ' r
<br /> efter the execudon of this Securiry Inswment and shall condnue to occupy the Property as Borrower's principul r�ide.nce �,�
<br /> for at least one year after the dnte of occupancy. unless Lendea otherwise agrees in writing, which consent shaU not be ! . .d°�
<br /> unreasonably withheld,or unless eatenuating circumstances exist which are beyond Borrower's conuol.Borrower shall not —
<br /> c�esuoy,da�nage or im uir the Pro perty to deteitoraLe,or cammit waste on d�o Pco rt . Borrower shull .���
<br /> ai p perty,allow thc Pro Pe Y ` ,� �x
<br /> be in deCault if any forfeitures ac[ion or procecding.whether civil or criminal,is begun that 3n Lcnder's good fnith judgmcnt ,�� ,
<br /> could result In forfeiture of the Property or otherwi.se materially impair the Iten created by this Securiry Inserument or -�
<br /> Lender's security interesG Borrower may cure such a default and reinstate,as provided In pazagraph 18, by causing the `=-�'"'
<br /> acuon or proceeding w be dismissed with a ruling thai,in Lender's good faith determins�don.precludes forfeiture of the t • � '
<br /> Bocrower's interest in the Property or other msiteriat impairment of the uen ereatecl oy this Security instrumeni cn Lr,ndcr's r='�
<br /> security interesG Borrower shall also be in default if Bortower,during the loan application process,geve muterially faLse or i �," ,.
<br /> inaccurate infortnatfon or statements to Lertder(or feiled w provide I.ender with any matcrial infortnation)in connccdon �. • ��� '
<br /> with the ban evidenced by the Note,including,but not limited to,representutions conceming Borrower's occupancy of ihe 1
<br /> Property as a princigal residence.If this Sauriry Instrument is on a leasehold,Borrowcr shall comply with all the provisions !� � •` ,�
<br /> of the lease. If Borrower acquires fee uQe to d►e Property,the leasehold and the fce tide shall not merge unlcss Lcndcr � _ ;•: ,
<br /> agrees to the merger in writing. �� � :
<br /> 7. Protection of Lender's �iights in the Property. If Borrower fails to perfomn the covenants and agrcements � ,¢.
<br /> contained in this Security Instrumen� or there is a legal proceeding that may significandy affc:ct I.ender's rights in the , , '� ''
<br /> Property(such as a procecciins in banlavptcy,probate,for condemnadon or forieiwrts or to enforce laws or regulmtions), � •�`�
<br /> then Lender may do and pay for whatcvcr is nccessary to protect the value of the Property and Lendcr's rights in the j ' .
<br /> Pro L.ender's actions ma include a in en sums secureci b a lien which has riori over this Socuri Instrument, � " '• �'-�--
<br /> P�rtY• Y P Y 8 Y Y P ►Y �Y ' v -
<br /> appcaring in wurt,paying rcasonable auocncys' fces and entering on tP►e Property to make repairs.Although Lendcr mAy � ' ''
<br /> take action undcr this parngraph 7,Lcradcr docs noi havc to do so. ; . . "
<br /> My smounts disburseci by Lcndcr under this paragraph 7 shall becom�additional debt of Borrowca secured by this , , � {.
<br /> Security InswmenG Un(ess Bonowcr and Lender agree tc�other terms oF p�yment,these amounts shall bcar intcrest from �
<br /> the date of disburscmcnt at ihc Notc rate and shall be payable, with interes� upon nodce from Lendcr to Borrowcr � • `
<br /> requesting paymen� i '~
<br /> 8. Mortgage Insurance. If I.endcr requ'ved mortgage insumncc as a condition of mflking the loan sccured by this � �r,
<br /> Socurity Insbrument. Borrower shall pay ihe premiums required to maintain the mortgage inswa�►ce in effec� If,for any � "•
<br /> retuon. 1he mortgage insurance:coveragc rr.quirod by Lender lapses or ceases to be in effect, Aorrower shall gay the �o'`• ?
<br /> ' � premiums required to obtain covcrnge substantially equivalent to the mortgage insurance previously in ettect�at a cost
<br /> � substantially equivalent to�he wst to Borrowcr of the mortgage insurance previously u�effect,from an alternate mortgage
<br /> � insurer approved by L,endcr.If substantially equivalent mortgage insurance wverage is not aveilable,Borrower shall pay in
<br /> Le�der each month a sum equal to one-twelfth of the ycarly mortgagc insurance premium beiog paid by Aornower whcn the
<br /> insurance covemge lapsecl or ceased to be in effc:�G I.ender witl acecp�use and retain these payments as a loss reserve in
<br /> � lieu of mortgage insurancc. Loss rescrvc payments may no longer bo :cquired, nt 1hc option of Lender, if mortgagc .
<br /> insuronce cover�ge (in the amount and for the period U�at Lender requires)providod by an insurer approved by Lendcr
<br /> ggain beoomes availablc and is obtained.Borrower shell pay tho premiums required to maininin mongage insurance in
<br /> effect, or to provide a loss reserve, until the rcquirement for mongage insurance ends in acavrd�nce with any wriucn
<br /> agnxanent bctwc�cr�Borrowcr and I.cndcr or applicable law.
<br /> 9. Inspectiun. Lcndcr or i�s agent may make reasonablc entrics upon and inspecdons of the Property.I.ender shall
<br /> aive Borrower notice at the time of or prior Go an inspecrion spocifying rcasonable cause for the inspoction.
<br /> 10. Condemnation. 'Rie proceeds af any award or claim for d�unages, dimct or consequenpal, in connection with
<br /> ACCT� 61482010
<br /> Form 3028 9/90
<br /> Grc�t Ub�8utlnei�Pormi.Inc�
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