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<br /> . ��,•, :`,.�, ';.: 5. Aa�rd or Pcop�iy Insuraace. Borrower shall keep the imp:ovements now eaistir►g or hereafte� erected an tS�e • .
<br /> '��� , Property insured agaiRSt loss by fire. harards includ�within the term"extended ooverage"and any other haxasds, including :� � ; , ,
<br /> , • � .' •floods or ttooding,for whicb Lendet requires insurance.This insurance shall be maintained in the amounu and for the periods �°�. ` • �
<br /> . . ' that l.ender requires. The insurance carrier providing the inswance shall be chosen by Bonower subject to.Lertder's appraval • �?".•' �-
<br /> , • r wtucl�sball not be unreasor�ably withheld. If Borrower fails to maintain coverage descri6ed above. LenBer may,at[.ender s • -
<br /> <, ,�
<br /> , ._ �• %_� oprion,o6tain coverage m pmtect Leader's rights in the Property in accoidaace witb pa�agraph 7. . � '
<br /> :: _ .-
<br /> . , Ail insurance poticies and mnewals shall be acceptable to Lender and shal! €nclude a standard mortgage clause. Lender , _
<br /> i,�. ; . ,, ' shall have the right to hoid the policies and renewals.If Lender requires,Bormwer sh�I promptly give to f.ettder all receipts of , __
<br /> , ° '. � � n� paid premiumc and reneaal aotices.In the event of loss.Borrower sliall give prompt notice to the insurance carrier and Lendet. ' . ' '
<br /> �- � ' , � � Lender may make praof of toss if not made pramp'Jy by Borrower. -.. •- �-.�:•
<br /> � `, � � .Unless Lender and Honavrer otherwise agee in writing.insurance proceeds shall be agplied to r�estoration or repair of the � ` ' ' -
<br /> . � ' Property damaged.if the restoration.or repair is economically feasible and Lender s security is noE lesseaed.If the restoratlon or •. � � � ���=
<br /> °`` .�::�:�: "•��-~
<br /> " ' • . � repair is not econc�caliy feasibte or Lender's security aou[d be lessened,the iasurance procexds shall be applied to the svms •�`��=�}`w-_�
<br /> ., .: ; ' , _....
<br /> ..' l ., , secured b this Instrument,whether or aot then due.a+ith �coess aid to Borrower. If Borrower abandons the '�=_
<br /> _ Y S��Y �►Y P ..:::__Y�ia�ie±cc:
<br /> �!: � � . • ., '` Properry.or does not answer wit6in 30 days a aotice fram Lender that the insurance carrier has offered to settle a ctaim.then -���'����?-G
<br /> • ,��`;', -��-4.-_ __---
<br /> , >r;« ' Lender may coUect the in��rance proceeds. I.ender may use the proceeds to repair or resto�the Property or to pay sums 'E-.--_�---_----
<br /> � �`��`:i�'• °� secured by this Security Instnunent,whether or not then due.Tl.�3� �day pe� �d will t�gn when t'�e noiice is given. ��_����rn�
<br /> ���� + •• Qnless Lender and Borrower othenvise a�-ee ia writing, any application of proceeds to principal sl�all not extend or ==- —
<br /> • , • . �� �`. � ` postpone the due date of the monthty paymenu referred to in paragraphs 1 and 2 or change the amourt of the payneats. If =
<br /> , � under paragraph 21 the Property is acquired by Lender. Borrower's right to any insurance golicies art�d pmce�ds resulting ftom ��
<br /> .. _ . . .:,.. �___ _ ___ damage to she-Pmperty.�rior.tothe.acquisitionshall�pass to.L�-ztder to ihe eatent of t6e.sums secuited.by this.Sequity_Tt�.s.trs�m�u�.__..__._
<br /> ,. ' � .•. immedi�.:ly prior to tfie acqnisition. _
<br /> ' ` 6.Uccupaacy,Preservatlon,Maintenance and Protection of t6c Ptoperty;Borrower's Loan Appltcatloa;Leasehotds.
<br /> • , . . �• - Borrower sha14 occe�y,establisb,and usc the Pcoperty as Borrower's principai residence within sixty days after the execution of
<br /> � . •. � this Security[r�:nt and shs�il continue to occupy the Property as Borrower's principa!residence fur ai least one year a�er
<br /> *. -�' ., • the d3er c`o,ccdpancy:unless Lender at7►envise agrees in writing, which cansent sliall not be unreasonalily withheld,or anless �
<br /> � • . , extenwamtg circumstances exist which are 6eyond Borrower's oontrol. Borro�ver shall not desuoy, damage ot ympair the �4�-y=
<br /> � Property, allow the Property to deteriorate, or commit waste on the Property. Boaower shati be in�faWt if any forfeiture
<br /> ,�. . �• action or pmceeding,whether civil or criminaL is begun that in Lender's gond faith judgment could r�lt in forfeitate of the
<br /> �� � ' � . �. Property or otherwise materially impair the lien created by this Security Instrument or I.ender's security interest. Boaower may
<br /> � • � , cure such a default and reinstate.as provided in paragraph 18,hy causing the action or proceeding w be dismissed with a ruling
<br /> � � . ' ' that, in Lender's goad faith determination, precludes forfeiture of the Borrower's interest in the Property or ot�.�material �---
<br /> � �•�'. . impairmeut of the lien created by this Security insfrument or Lender's s�urity interest. gorrower shall also be in default if �'-
<br /> . • Bonow•er.during the loan application pmcess.gave materially false or inaea:rate intormadon or statemeats to l.ender(or failed "
<br /> .. ' ��' . � • to provide Lender with any materia!information)in connection with the lo�evidenced by the Note,including,but not limited �:���
<br /> • ', • . to,representations conceming Borrower's occupancy of the Property as a principal reside�ce.If this Serurity Inswment is on a ���—
<br /> - , . . leasehold, Borrower shall comply with all the provisions of the lease. If Borrower zti,�;�:ires fee dde to the Property. the --
<br /> , leasehatd and the fee tide shall not merge untess Lender agrees to the merger in writing. t?�
<br /> - . ". . 7.Protection of Lendes's Rtghts in the I�periy.If Borrower fails to perform the covenants a���mxments contained in �-�T
<br /> this Security Instrument,or there is a legal proc�eding that may signifirandy affect Lender's righu in t�:e Propeny(such as a —� �
<br /> . proceeding in bankntptcy,prabate, for condemnation or forfeitnre or to enforce laws or re�lauons), then Leader say do and ��
<br /> . • pay for whatever is necessary to protect the value of the Propert}+and Lender's rights in the Property. I.ertder's�ons may ��
<br /> - • '. include paying any sums secured by a lien which has priority.over this Security Instrument. appearing in co�ut, paying � �-
<br /> � � .
<br /> ' . � '. reasonable attomeys' fees and entering on the Property to make repairs.Although Lender may take action under this paragraph ."��'
<br /> �•• � 7.l.ender does not have to do sa. -"-
<br />� • �_-
<br /> , • Any amounts disbursed by Lertder under this parugraph 7 shall become addifional debi of Borrower secured by this
<br /> . � � � Security Instrument. Unless Borrower and l.ender agree to other terms of payment.these amounts shall bear interest from the •�':��_;�.
<br /> ; � date of disbursement at the Note sate and shall be payable, with interest. upon notice from Lender tu Borrower requesting .?' , _
<br /> � . . paYment. r��
<br /> __J. . • S.Mortgage Insusaace.If Lender requi�d mortgage insurance as a condition of making the loan secured by this Security ,3 . , .;.'� ? '
<br /> -; ��• � _ . , � Instnunent. Borrower shall a the remiums r uired to maintain the mort a e insurance in effect. If. for an reason, the =. . `'�-�`�
<br /> P Y P �l S S Y ,�,.•t��r:.:'--
<br /> • mortga�e insurance coverage reGe:irzd by Lender lapses or ceases to be in effect.Bono«•er shall pay the premiums required to -
<br /> � 'i ,. �. � , obtain coverage substantially equir•alent to the mortgage insurance previousiy in effect,at a cost substantially equivalent to the •.` t���� � -
<br /> _ � cost to Bonower of the mortgage insurance previously in effect, from an altemate rtiortgage irtsurer approved by l.ender. If '' ... �
<br /> �,� �� . . substantialty equi��2le.t mortgage insura�tce cmerage is not avaitabie.Borrower shall pay to Lender esh month a sum eyual to ' "
<br />— ' • . one-twelfth of the yearly mortgage insurance premium being paid by Borrower w}ien the insurance ooverage lapsed or ceased to . •
<br /> � r"' ' � be in effect.Lender wiq accept,ase and retain these payments as a loss reserve in lieu of mortgage insurance. Lass reserve " • • '
<br /> # . . . � .
<br /> � Farm 3028 9190 • • -
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