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<br /> � � S. fiazard or Psoperty ia44usace. 8arrower shall ke�she imgmremeats now existing or hereaftes erected on the ' -
<br /> , .. .,.�' ° '� property ips�red.against loss by fire.hazards insiuded within the term"extended roverage"and any other haiard.�,iacluding , �
<br /> � . .:.�.•-'i ttoods or ftooding.for�v6ich Leader requires inswance.This ins�rahc�shall be maltrtaiaed in td�e amounts and fos the periuds =_ _
<br />: . � that Lender requires.71ie ins�uance carrier provi�ng the insurance shatl be chosen by Borrocver sub}rct to Lender s approval ' _ _-
<br /> � . � which shall nat be unre�sona6ly withheld. if Barrower faiis ta maisitain caverage described above. l.ender may: at Lertder's ��`��_�
<br /> aption.o6tain ooverage ta proteci txnder s righu in the Praperty�in accordance with paragcaph 7. � = _-__
<br /> ' ' • Ail insurance policies and renewals shall be a+:ceptabIc to L�ende�and shall inc�udc a st�ndard mortgaSs ciaiue: Isnder_ �"_�-- -
<br /> � � ' � shal!fiave the rigtu to hotd the pol'icies and ienewals.If Lender�quires.Borrower shall promptiy give to Lender a11 s+eoe►Pts�f =___ -
<br /> . �� 'paid premiums an�renewal tcodoes.in the event of toss.Bor�ower shall give prompt notice to the insurance carrier and Le�sd�r. _-__--
<br /> � , Lend¢r may make praof of toss if not saade promptlY by Borrower.
<br /> ' ' • Unless Lender and Eorrawe�otherwise agree in w�irin8.insurance prooeeds sha11 be apptied to restoratioa or repair of the �---
<br /> ; . pmperty danmgell,if the restoration or repair is econamicaqy feasible and l.ender's searity is not lessen�.If the��o� ____
<br /> . �� repair is not eronornically feasible or l.ender's securiry woutd be lesseaed.che�nsurance Proc�ds s�11 b��'P�
<br /> � .� .. ': secured by this Securiry InsErument.whether or not then due,with any excess paid to Horrower. If Borrower abandons tke - - -
<br /> ..' . property.or does not answec within 30 days a�notic�from Lender that the insurance carrier has offered co settle a claim.then �-_
<br /> � • • Lender may collect the insnrance procceds. Lender may use the proce�ds ta icpair or restore the P�operty or�to p�dy sums __ --
<br /> • , secured by this�eavrity Instrument.Nhetfter or not then due.The 30-0ay periad wi11 begin ahen the notice is givea _
<br /> eav
<br /> .."< Unless i.ender ar.d Borrower otl�envise agree in writing. any agplication of proceeds to principal shall not extend or �
<br />• ,•. • -
<br /> • . : . postpone the due date of the mnnthlY payments refened to in parsgraphs 1 and 2 or change the amount of the Qaymenis. If �-
<br /> � . , . under paragraph 21 the Progerty is acquired by Leader.Borrower's right to any insuraztce palicies and���bn�t �` �—_-_
<br /> � , .. ,• — - .
<br /> ..`. •..: • --
<br /> � �� � � nar to the a uisition shati pass ta Lendec w the extent of the sums sec�red bY
<br /> -----'-�_-y_. damage to th�Property p' �9 , . . .. __ . . . . _ ... .. --. . . _ --
<br /> , , � imntediately prior ta the acquisirion.
<br /> �y :=:_=
<br /> � � 6.Occupanc9,Fres�vation,lMiaij�tenance and Protectton of ihe Prapu�;Borrawer's Lo�n AppHcatIon;Leaseholds. x�a•�
<br /> ec �
<br /> � • � � � Bocrower shall occapy,establish.and use the Property as Bnrrower's prinripal cesidence within sixty days after tlie ex�on of `y,-
<br /> ,' this Security Iasuvrrtent and shall continue to occupy the Property as Bonower's principal cesidence for at least one year after �-"_ _
<br /> - - - _..'.���,.'
<br /> � " � ;, tbe date of occupancy,unless t,ender atherwise agrees in writing, which consent shail not be ameasonablY withheld.or unless
<br /> � � � � cMenuating circumstances ea�st which are beyond Borrower s contcot. Borrower shall not desuoy, damage or impait t}ie - v$�. _�
<br /> � � p�perty� allow the Pr��e�y ta deteriorate,.ar commit waste on the Property. Borrower shail be in default if any forfeiture
<br /> ; , •_���
<br /> .. ..' aaion ar preceeding,ahather civil or criminal, is begun that in I.ender s good faith judgment could resutt in forfeiture of the �1.: _
<br /> • ---; - �� � ,: proper►y c*�atherwise materially impair the lien c�+eated by this Securiry Insetument or Lender s security interest.Borrower may ==c . +:_
<br /> . • ' cure such a default and reinstate,as provided in paragraph 18.by r�sing the action or procceding to be dismissed�vith a crling _
<br /> ,.:�
<br /> • ° t6at, in Lender's good faith determination. precludes forfeiture er rhe Borrower's intere�t in the Property or other�:.�ria1 :::
<br /> � � . � . rmpairmenE of the lien created by this Security instrument os Le:�er's security inter�st. Borrower shall at�be in default if � �,
<br /> - Borrower.during the loan application process,gave materially false or inaccurate infomiation or statemems ta i.enaer(os failed �:_•
<br /> � � 1� •' to provide Lender with any material information)in connection with the loan evidenced by the Note.including,but not limited ;, � _
<br /> :.�,:;; '
<br /> ' to, representations concerning Borrower's occupancy of the Property as a principal residence. if this Security Insmiment is on a :: x �
<br />' , �� IeaSehold. Borrower shall comply with all ti�e provisions of thc lease. if Borrower acquires fee title to the Firaper,ty, the ,zt,.. . •
<br /> ' � � leasehold and the fee title shall not mergc unless Lender agrces ro the merget in writing. =:-� '
<br /> .. _ 7.Pevte�ti�oa of Leader's Rights in!he Property.If 8onower fails to perform the covenan�c and agreemenu contained in ; _� �—�
<br /> = � this Secu�i�+Instrument.or there is a legal proceeding that may significantly affect i.ender s rights in the Properry (such as a ' =�:�.�• .: �
<br /> . � � : proceedi��dn bankruptcy,probate,for condemnation or forfeiture or to enforce laws or cegulatians),then Lender may do and _�:�•�j y����_.
<br /> . ' pay for�.�hate�•er is necessary to protect the value of the Pr �a.•and l.ender s rights in the Praperty. Lender's actions may _ ��,�^';�-
<br />- � ' • � include paying anY sv�ns secured by a lien which has priorit}• over this Security Instrument, appearing in court. paying
<br /> , •� • " reasonable attorneys fces and ertering an ths Property to maice repairs.Although Lcnder may take action�.rder.this paragraph �•. : _ . �-
<br /> • 7.Lender does not have to do so. i. ' S. ; :�,•.. ' -
<br /> .�� , �
<br /> � :;;�?;.;:,;: Any amounu disbursed by Le�.der undcr this paragraph 1 shall 6ecome additional dcbt of Bonower secured by this } �;,,�,,:.�• . .,�,.
<br /> �� Security Instcument. Unless Botrower and Lender agree to other terms of payment.these amounts sha11 bear interest from the � *�. ��;.• �w.,�,
<br /> �_�� .: • � . ,,. date af disbarsement at the Note rate und shall be payabte, with interest, upon notice fram Lender to Borrower c�questing r . y�'�
<br /> . payment.
<br /> � � ' S,biortgage Insurance.Cf Lender required mortgage insurance as a condition of making the laan secured by this Security . ,y
<br /> ��?;.. � ". ��- '" insuvment. Bonower shall pay the premiums requir e d to main t a i n t h e moR�a ge insuranoe in effert. If, for any reason. the .�
<br /> �- , nwrtgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower s�aD pay the premiums required to . . '�. .�
<br /> � � • � � � � obrain covem�e substanzialiy equivalent to the mortgage insurance previously in effect.at a cost sut�stantiaily equivalcnt to the :.
<br /> ,�. .•.}
<br /> oost to Sorrower of t�e mortgage insurance previausly in effect. from an alternate mortgagc insurer approved by Lender. If �
<br /> ` � �_ � ' . � . su�stantially equivalent mortgage insurancc cavemge ic not avaitable.Borrower shali pay to 1.ender cach month a sum equal to . � j
<br /> • " •� � one-tweifth of the yearly mongage insurance premium heing paid by Bortower when the insurance coverage lapsed or ceased to .
<br /> ' ' be in erfect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurancc. l.ass reserve �
<br /> =� � , . . Form 3028 9/90 ' �
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