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<br /> '.',• � `` - ' . _ S. � or 1Ptogerty Iagarauce. Borrower shall keep tbe impmvements now existina or hen�Ret etectixi on the . _--------
<br /> '�' . � y`.^:�.';' Property insnred against toss by fire.hararJs includa!�vithin.the term "�acteuded coverage" and any ather l�ards, iucl�din� -
<br /> ..,� ' . " ftaods or tlonding,for which Lender�quires insuranse•'i'6is insurance s1�a11 be inaintain�in the amounts and for tl�.:periods __ __
<br /> -�-,�-, .`:.,. -.,'-,' that Lender requires. 'Phe is�suranee casrrier proe'sding the insurance sf�a11 be chas�n by Eorrower subjeci to Lender's appraval _
<br /> � . ,' ' � cvhich shall not be unreasonabiy withheld. If Borrower fails to maiurain caverage descri6ed above:I.ender inay, at Lendec's -
<br /> . . •. � " option,o�tain wverage to protect Lender's rights in the Property in accoidance with paragzapB 7. a ctause.Lender �
<br /> � �`�� < ��:• '' All insurance policies and Teaewals shall be acceptable 2o Lertder ami shall inrlude a smndard mortgabe
<br /> . ; ;5 shali I�ave the rig4u to hold the p6ticies and reuewals.If Lxnder requires,Borrower shall prnmptlY 8ive tn IBnder all receipts of
<br /> �� 4 : �. .. p�d premiums and renewal uotices..In the event of 1¢ss,Bormwer shall give prompt notice to the inswance carrier and Lender.
<br /> ;• • : Lender may make proaf of loss if not made promptly by Borrower. .
<br /> ' ��` Untess.Lender and Borroaer otherwise a�in writing,ins�rance pmceeds shall 6e applied to reswration or repaii of the
<br /> • property damaged,if the restoration or repair i�economically feasi'61e an�II�der's seauity is uat lessened.If the resWra�on or
<br />; ���,,,� ` � � repair is not economicalIy feas'b'.e or Lender's securiry ae��si be tessened,the insutanc�praceeds sha11 be appiied to the suais
<br /> ` d• _�:. ' secnred by this Sewrity Instrumerct, whether oF not then c�e, with auy excess paid to Bosrower. If Ba�rower abandons she
<br /> . � _� . :��
<br /> .,: „ . Property, or does not answer within 30 days a notice from i.ender that tfie insurance carrier has dffered to settte a ciaim, then
<br /> , . `.�' �.ender may collect,the insurance praceeds. Lender may use the pmceeds m repair nr restore the 1P�operty or to pay sums .
<br /> .: ' . . secured by this Se�vr�ty Insuument,whether or not then due.T4►e 30-day period will begin wi�en t�e rn�tc,�is givenT
<br /> �_�;..`..�: .'�... ;,..." Untess i.endet and Borrower otherwise�agree in a i" �, anY aPPlicadon of p*�ads to principal shall r�extend or
<br /> . �, ���� �--.- , postpone the�due date of the aic�;thly payments referred t�:n-paragraphs.1 and 2 or.change she amouni of the payt,teats. If
<br /> .�� �;`••, under paragraph 21 the Propert�is acquired 6y Leader,Barro�ver's right to any inssuanoe policies and proceeds resWting fmxn
<br /> ' • �• damage to the Property prior to the acquisition shall pass to l.ender to the extent of the sum�sau�+ed by ttds Security Ipstr�ment
<br /> ' ".�. ' immediately priar w the acq�:L�itan. . ,
<br /> ...�:..• . _ - ' 6..Occupaacy,Preserv�eicsFe.3Viainteuaace aad ProtectGon of the PropeertY,Boerowe,r's Loan Appllcattou;l,ease![olt)s. —
<br /> �• � • Borro�ver shall occupy,�*.`abli�i�aa�d use the Property as�eaower s pr�neipal residence within sixty days after the executiart of
<br /> . , - this gecurity Insuumen3 a�;v�;nal)continue¢o accupy the Property as Borrower's principal residettce for at least one year•after •
<br /> � � - the date of occupancy.unless Lender otherwise agrees in writing,wtuc�consent shall not be unreasc�:bly withheld, or t�siless
<br /> . � ..'; � � extenuating circumstanres e�st which are.6eyond Borrov�er's conuo4..Borrower shalt not destr�:,�Jamage or impair ttte
<br /> • -�' . Pruperty. allow the Property to deteriorate.or commit Kas�e on the Property. Borrower shall be ia default if any forfeit�re
<br /> � �' . ' action or proceeding.whether civil or criminal.is 6egun that in l.ender's good faith judgment could result in forfeicure of the
<br /> � • � Property or athercvise materially impair the Ifen cteated by this Se.curity Inswment or Lender's seeurity interest.Borrower may __
<br /> � � • cure such a default and reinstate.as provided in paragraph 18.by causing the actian or proceeding to be dismissed with a ruling ��_;�-,
<br /> . . .�" . .. � � tha�, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or ot�er material .��-�.
<br /> • impairment of the lien created by this Security Insmiment o:Lender's security interest. Boaower shall also be ia defauit if l;�__
<br /> ' , . =-�� Borrower,duriag the loan application process.gave materia(ly false or inaccurate infor�ation or statemenu to Le�der(or failed �---
<br /> —. . .. . � • to provide I.ender with arry materiai information)in conneccion with the loan evidenced by the Note,including,bui not iirnited =.�':
<br /> . �� ' to.representations conceming Borrower's occupancy of the Property as a yrincipal residence.[f this Security Instrument is on a •,�_
<br /> teasehotd. Borrower shall comply with all the provisions of the lease. If Borrower acquires €e� title to the Property. the __ -
<br /> � leasehold and the fee titte shall not merge unless Lender agrees to the merger in writing_ �,y:��
<br />' .. s� ::::� • 7.Protectlon oY Lender's Rights ia the Property.If Bonowcr fails ta perform tf��covenanu and agreements containeQ in �'%°``-�� _
<br /> �----
<br /> �.' � � � .. this Security lnstwnent,or t?:ere is a lega!proceeding that may sigaificantly affect Lender's rights in the Property (such as a _—_ _
<br />; �. . • . ' . proceeding in baskruptcy,probate. for condemnation or fodeiture or to enforce taws or reguladons). then Lendec may da end �;
<br /> � pay for whatever is necessary to protect the valne of the Property and Lender's rights in the Property. Lender's actions may . ___ _
<br />- ' � � ` include paying any sums secured by a lien which has prioriry over this 5ecuriry Instrument, appearing in court, paying ---�
<br /> �, . reasonable attomeys'fees and enterin on the Pro rt to make re airs. Althau Lender inAy ta1:c a:,.�'ion nndes�his paragraph - v�=�
<br /> g pe Y P S� '�':a;.:._
<br /> �. � 7.Lender does not have to do so. �� }' ��z•
<br /> ? ' ' Any amounts disbursed by Lcnder under this parsgraph 7 shall become addirional debt of Boaower secured by this '�; 4�� � r.
<br /> . , . a � Se.vsity Instrument. Unless Horrower and L.ender agrec to other terms of payment,these.amounu shall bear interest from the �' ��
<br />�.� • : . date of disbursement at the Note sate and shall bc payable, with interest. upon notice from Lender to Borrower requesting . .
<br /> • payment.
<br /> � . ;. . 8.Mortgage Insut�utce.if Lender required mortgage insurance as a condition of making the loan secured by this Security ,
<br /> ,.�...� ,;� � �. lnstrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect: If, for any reason, the r : ..
<br /> mortgage insora�ce coverage required by Lxnder tapses or ceases t�be in effect, Borrawer shall pay the premiums required to
<br /> obtain coverage substantially eguivalent to u':e mort;age insurance previously in effect,nt a cost substantially equiva lent to t he
<br />��'.� � cost to Horrower of the mortgage insurance previously in effect,from an altemate mortgage insurer approved by l.ender. If . . .
<br /> . ' � � sLbstantially equivalent martgage insurance coverage is r.o*.available, Borrower shall pay to Lender each month a sum equal to .
<br /> � � • one-t�velfth of t��:e yearly mortgage insurance premium being paid by Botrawer when the insurance caverAge lapsed or ceased to � �
<br /> � ' � be in effect.Ler.n'.er wilt accept.use and reEain these paymenrs as a loss reserve in lieu of mortg�e insumnce. Loss reserve . . � �;,.
<br /> ." . .- . . Form 3028 9/90 • -
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