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<br /> _�, , _ 5. Hs�zard br Property Insaiance. Borroucr shall l�eep the improvements now existing on c�re:eiter erected on the
<br /> � Propeny insured ��ainst loss by fire, har.ard�included within the teim'eatended coverage"and any other hazards, induding . ..'���.�.
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<br />-;�, • .' ' � , t�aods ar flaaling,for which I.�nder requites insu�ance. This insurance shall be maintained in the amounts and for the periads .. � •
<br /> . . . �.� • • ° that Lender re�uims. The insurance carrier pr�widing the insurance shall be chosen by Borrmver subject to Lender's approv� ��,.�:,�.
<br />_�;`�-,.�. .
<br /> • °; - -- wdi��h shati not 6e anreacartabiy K-ifhhctd. !f 8arnaa•er f�ils to mainsain roverage described above. l.ender may, at l.ender s. ' ---.--- �---_—.-
<br />- r �� �option,obtain coverage to protect Lender's rights in ihe!'caperiy in ascordance with paragraph 7. .� - ,.
<br /> :,,.. ��. '� , All insurance policies and renewals shall be acceptable to Lender and s[�ll inelade a standard mongage ctause. l.ender. r
<br />_ • -•, " . � shall have the right to hold the policies and rencwals.If Lender requires,Bnrrower shall pramptly give to Lender a l l receipu o f • � �n
<br /> � ?�.-;}:
<br /> - - - � ' � paid premiums and renewal natices.ln the event of loss.Borro�ver shall give prompt natic�to the insurance carrier and Lender. �:_ r��
<br /> r � . , �: , : l.ender may make proof of loss if not made pmmpdy 6y Borrower. • • : '
<br /> < •��� ' Utiless[xnder and Borrower othenvise agree in wiiting,insuPance proceeds shall be applied to restaration or cepair of the
<br /> - . ' Property damaged,if tf►e restoration or repair is economically feasible and Lender s security is not tessened. If the restoration or , `` '
<br /> . �, � repair is not economiealTy feasible or Lender's securiry would 6e lessened.the insurance proceeds shall be applied to the sums • �
<br /> • , •• � secured by this Seturity Instncment, wi�ether or not then due, with any excess paid to Borrower. If Borrower abandons the :. � ;
<br /> ', . .• � ` Property.or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then • _
<br /> � ; �` Lender may collect the insurance prac.eeds. Lender may use the proceeds to repair or restore the Property or to pay sums ... �
<br /> - .. � • � secuied by this Security Instrument.cvhether or not then due.The 30-day period�rill begin when the notice is givea_ . ., _'`'���
<br /> - �. " Unless Lender and Borrower othernise agree in writing, any applicauon of praceeds to principal shali not extend or . •�il ,�
<br /> _ ... .� : ' . postpone the due date oi the monthly payments refeaed to in paragraphs.l and 2 or change the amount of the payments. If
<br /> ..... .
<br /> -`�'�- �, : • ��` - - uitder �- h 21 t[re Pco �s uired b txnder,-$orrower s ri ht to�an insuran liciesr and mu:-�ds resultin �from�--. ...._ • . ,: •.
<br /> . P� F�Y� �I Y 8 Y �P� P S` ..., �
<br /> -• ' cJamage to the Pmperty prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrumeat '�- _ -��.�.�
<br /> � • . immediately prior to the acc�uisiti�n. ���'�`� �
<br /> ��.� —
<br /> � � 6.Occapartcy,Preservatto�,hlaintenance and Prutestton of t6e Prt►pecty;Borrower's I.oan Appl�cat�on;Leaseholds. �.•,=�
<br /> . "' .r'"" . �, '' Borrower shall occupy.establish,and use the Frapecty as Borrawer's psincipa!residence aitfun sixry days after the eaecudon of _ __
<br /> ' � •� • tlris Security Insqument and shall continue to occnpy the Property as Eorrower's principal reaidenc�for at.least one year after __
<br /> , • the date of occupancy.unless Lender otherwise agrees in writing, which consent shall not 6e unreasonably withheld.or unless - - _
<br />-• .. extenuating circumstances eaist whieh are beyond Barrower's control. Borrower shaq not destroy. damage or impair the ``
<br /> � � .. ' Property. allaw the Property ta deteriorate, or cammit waste on the Praperty. Borrower shalt be in defauEt if any forfeiture �$+°�
<br /> �.
<br />�., - , ;_, _;�
<br /> ..- `�� �� � . action or proceeding, whether civil or criminal,is begun that in Lender's gaod faith judgment could resuIt in forfeiture of the ' ��:
<br /> . • Property or otherwise materiully impair the lien created by this Security Instreiment or Lender's security interest. B�rco�ver may ���°�
<br /> � , rure suCh a defaUlt artd reinstate.as provided in paragrap618,by�:ausing the action or proceeding to be dismissed with a ruling .. _�
<br /> • . that. in Lender s gaos!faith determination, prccludes fart'eiture of the Bonower s inserest in the Property or ather matetiul � �'"���
<br /> ,�� ---��------��-- , impairment of the lien creuted by this Secariry Iastrument or Ir_nder's security imerest. Borrower shall also be in defuult if ':==-
<br /> .��--:—
<br /> � � � Borrower,during the loan application proc�s,gave materially false ur inaccurate infomu�tion or statements ta Lender(or failed ,�_
<br />"` to pmvide Lender with any material information)in connection with thc loan evidenced by the Note.irtctuding,but not lunited t�.,.,_.._
<br /> Y' • ' •� � . to,representations conceming Bonower's occupancy of the Praperty ns a principal residertcs.IE this Security Insuument is on A �
<br /> . ,_ : . .
<br />- . � � • teasehold. Borrower shall rnmply with all the provisions nf tho lease. If Borm+�•cr acquires fee titIe to the Proyerty. the `,. �
<br /> r'•: : ' • � � leasehold and the fee title shall not mergc unless Lender agrees to ehe merger in writing. • ��
<br />-�ti 9.Protertton of Lender's Rights in the Propesty.lf Borrower fails to pedorm the rnvenants and agreements wntained in _. '�,��
<br /> . � � • this Security Insttument,or there is a legal proceeding that may signi6cantiy affect Lentder's rights in the PropetYy(such as a =
<br />- �� ' proceediag in banknipuy,probate, for condemnation or farfeiture or to enforce laws or regulatioas).4hen I.ender may do and • �
<br /> � � -• : pay for�vhatever is necessary to protect the value af the Property and Lender's rights in the Prupeny.Lender's:sctions may '
<br /> � . • inciude paying any sums secured by a lien which has priority over this Security Insttument. appearing in caurt. paying �
<br /> � . reaconabte attomeys' fees and enterinD on the Property co malce repairs.Although I.ender may taJce aetion under this paragrapb
<br /> �•�f • • � 7.Lender does not have to do so. .
<br /> � .. . �. �, .. Any amounts disbursed by I.ender under this paragraph � shall become additional debt of Bomower secured by this
<br /> ='_` i . . ' . Security Instrument. Unless Borrower and Lender agree to other tem�s of payment. these amounts shall bear interest firom the
<br /> --° � � date of disbursement at tfie Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> yx..', � , � payment. � �
<br />__ ' ' � S.Aiortgage IaSUrante.If Lender required mongage insurance as a wndi6on of making the loan secur�d by this Security
<br /> � . � . [nstrument. Borrower shalt pay the premiums required to maintain the mortgage insura�ne in effe�. If. for any reason,the ----
<br />,*� , _. ', ' mortgage insurance coverage required by Lender(apses or ceases to be in effect.�orrower shall pay the premium�requited to �`__
<br />--: � • ' obtain coverage substantially equivalent to the mortgage insurance previously in effect.at a cost substantially equivalent to the
<br />- � '� � ' cost to Borrower of the martgage insurance previansly in effect. from an altemate mortgage insurer approv�d by Leniier. If — -
<br /> - . • `' '�"' substantially equivalent mortgage insurance coverage is not available. Borrower shall p3y[e Lender each month a sum equal to �
<br /> f� ' .
<br /> � � ' one-twclfth of the yearty inortgage insurance premium being paid by Borro�r•er nhen the insuraace wverage Iapsal or c�eased to ;�.
<br /> � � '- : • - be in effect.Lertder will accept.use aad retain these paymenu as a ioss resene in liw of mortgage insurance. Loss res�trve
<br />-:-a� � . Form 3�28 �J190
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