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<br /> = � � 5. H�aatd or Pcopeti4y Insuraace. Borrower shall keep the�improvements noev'e�usring or h�a��.. {
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<br /> �' "� '�` . Property imsured against loss by fere, ha7ards included within the teim"eatended coverage",and any other hazards. inctuding , .
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<br /> • . u : • tloads or ttooding. for which.Lender requires insuiance. "I':�s insurance shaIt 6e maintained in the aznwnu and far the periods �_ - `,��a�.,� ;'_
<br /> � � .' ;�y..'� �Rat i�nder r e quires.The 3ngurance carrier providing the insurance shall be chosen 6y Borrower subjecc to Lender's approval ` t,c,,,r's.�;���':
<br /> ._ ' which shall not be unreasonab�Y vv►thheld. If Bomnwer.faiis,to maintain covera$e descri b e d a b o�e. L e n d e r ma y,ai lxnder s � � , +
<br /> � ' �,�- :._ p g h 7. • . "�_�
<br /> �a ';..�, optio�,obmin«rverage to�ai�Lcnder's rights in the Property in acxordance with ara rap ,,,�•�
<br /> <.��=�''�'> � p!1 insarance policies and renewals shal! be acceptable to Lender ana shal!inciude a standard mortgage clause. Lende� � � {:��,�,R-.
<br /> s._ : .:� �.,ti_u;F_r,�v- •.
<br /> � � -�` ' shall have the right to hold the policies and renewals.If Lender reauires,Sonower shail promptly give to Lender all receipts of �_ �� �� .,
<br /> .'�'��' ` ' paid premiums and renewal notices.In the event af foss.Borrower shall give pmmpt notice to the insurance carrier and L,endeT.: �.{h .T� «^_.
<br /> _.�-:.-,-� Y P � Y Y = �e
<br /> Lender ma maSce�rnof of loss if not inade ro tl b Borrower• . .— -
<br /> Un2ess Lender and Borrower otherwise agree in writing.'"�„�"�pf0���be.applied to restoration or rep3ir of the �:;s..�.�, -
<br /> y:*^-�+��r- ...: , pro�erty damaged,if the r�swration or repair is ecanomically feasible and I.ender'S SBClliltY iS ItOi IQ52IlC�.If tlle LCSUEIdtIOB 6f ��-�.--
<br /> ��`.�:.'�"�`-•-•, _ woutd be lesseaed,the insurance pr+aceeds shall 6e aFplied to the�sums --_----
<br /> � __a,w:.:�:... .�. . —_--
<br /> ., c•.; „ cepair is noi economic�lly feasible or Lender's secunty __
<br /> ..-'�. ' secured by this Secnrity Instrume�, whethec or not then dae. with nny excess paid m Borrower. If Bormwer abandons d►e �;�;;;-�N=--
<br /> �, ��y• �� ProQerty.or does not•answer within 30 days a notice from Lender that the�*+n,*Ance carrier has affered to settie a claim,then -_-____
<br /> - , �:'- Lender may collect the insuranoe praceeds. Lender may use the.procceds to repair or restore the Praperty nr to pay sums ' --__
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<br /> •. ,;r'�• 5��by��curity Instmment.whether or nat[hen due.'['he 30-day oeri�d witt 6Pgin vuhen the aotice is given. ___
<br /> — Untess Lender and Borrower othera+ise agnee in writing, any appuca�on of p,�ce�ds t p�•ncigal hall not extend or ___
<br /> � � • postpone the d»e date of the monthly paymenu refetred to in paragraphs I and 2 or ctiange the amount ot We payrt►ents. Lc __ __
<br /> -_-�-`;_=--�:�., a';," • under paragraph 2l the Property is acquired by Lender.Bonower's right to any insurance poIicies and proc�eds resolting from
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<br /> ,, . � , ; �-. ----—� -�damage to tti�Ptop�rtYpriorto-the�acqaisition-shall-pass.to.I.ender.to sh���[t,e�t of the sums_secured by this Secunty --.----. ----.--.
<br /> � ' ._�.. •: imm tatel rior to the a sirion. �_�
<br /> ,. . . 6.pc�upancy,pteservatton,Maintenance and Protedion of the Property;Borrower's Loas Apptication;Leasehoids. �
<br /> . .. :��� Sorrawer shall occupy,establisb.and use the Property as Borrower's principal residence within sixty days t�fter the eaecutton of �„���,
<br />'� • � tl.•
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<br /> _ - ��. this Secucity Instrument and shall continue to occupy the P�opertY as Borc°wer's principal resideace for at least nne year after --.
<br /> �;'_ �. r�`•. the date of ocq�pancy,unless Lendec otherwise agrees in writing, ivliic�h co-nsenr shail not be unreasonably withheld,or naless �,�_ __
<br /> • • '•4� ex te a u a t in g circwnstances exisc which are beyond Borrower s control. Borrower shall not desuoy. damage or.impair the ___
<br /> • � � "'; ' Property. allow the Property to deteriorate,or commit waste on the Property. Borrower�shall•be in de fau lt i f any fa r fei t u r e _ __
<br /> , . � " .•. , action or pracerding, whetber civil or criminal,is begun that in Lender's gaod faith judgment coutd result in forfeiture of the
<br /> . � ' ., Property or otherwise materially impair the tien created by this Security Instruirient ot Lender's se�vriry interest.Borrawer may
<br /> •° � � cure such a default and reinstate.as provided in paragraph l8,by causing the action or praceeding to 6e dismissed with a ruling
<br /> � ' that, in Lender s good faith determination,precludes forfeitur�e of the Borrower's interest in the Property or other material
<br />. • �. • impairment of the lizn crated by this SecuntY Instmment or Lender s security interest. Borrower shaq also be in default if _
<br /> � Batrovier.during the loan appliqtion process,gave materially false or inaccurate information or statemenu to Lender(or faited
<br /> ; , . [o provide Lender with any material information)in wnnecrion with the loan evidenced by the Note,inciudin�,but not limited �Y;,
<br /> " to,representations conccming Boaower's accupancy of thc Property as a principal rasidence. If this Security Instnunent is on a
<br /> r ,. - � leasehold. Borrower shall wmply with all the provisions of the lease. If Hono�ver acquires fee title to the Property, the �i :.
<br /> �� leasehold and the fee title shal!not merge unless Lender a�ees co the merger in writing. ��'�r 'V-f_�__
<br /> � ' ' 7.Pcotectlon of Lender's Itights In the Property 1f Borrower fails to perform the covenants and agreemeats contained in •�;�,,�__
<br /> -_�.�:;,,:�,. ;,�,` this Security Instrument. or there is a legal proceeding that may significant{y affect Lender's righGs in the Property(suth as a ';.-���:,A,,;�--- -J
<br /> f� ;;., _�'' � proc�edin�in batilcruptcy.probate. for candemnauon or forfeiture or to enforce laws or regulations),then Lender may do and � �
<br /> =_ . ;,'i. �,.• pay for whatever is necessary co protect the value of the Property And Lender s rights in the Properry. Lender's actions may �.: r��
<br /> � ` .'. . includ� paying any sums secured by a lien which has priority over this Securiry Insttument. appearing in court, paying ;;;,.,_, �`
<br /> � •" �' � reasonable attomeys'fees and entering on the Property to make repairs.Although i.ender may take action under this paragraph ,;',���'"�-
<br /> . � 7,Lender docs not have to do so. '' '`"- ��~�
<br /> ___ .. . �-:..:
<br /> -_ . � � . ,�.,•�. . Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secur�l by this : . �} ��
<br /> =%,�y�• �',�° . Securiry instmment. Unless Borrower and l.ender agree ta other terms of payment,these amounts shall bear interest from the '-���� .
<br /> _-- . . �- date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower eequesting ,
<br /> , payment• ' . ' .
<br /> � - 8.Mostgage Insurance.If Lender rcquired mortgage insurance as a candition of making the loan secured by this Security
<br /> , 1 '':�..:;�
<br /> •;, ��;_ :• V Instrum�nt, Borrower shall pay the premiums te,qaired to maintain the mortga�e insurance in effect. If, for any reason, the r
<br /> �.�: �:..,. �.'� . mortga�e insutance wvcrage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums requiretl to
<br /> ,.~... • . . . -
<br /> _ �;;�.,;;,��•; '� �btain coverage substantially equivalent to t he mortgage insu r a n ce p r e v i o u s l y i n e f f c c t.a t a w s t s u b s t a n t i a l l y e q u iv a lent to the
<br /> '=�-'�"�'�•��� '•� wst to Bonower of the mortgage insuYance previously in effect, from an altemate mortgage insurer approved by Lender. If _
<br /> �-'����;`;.::_:. . � •
<br /> ,, substantially equivalent mnrtgage insuranec coverage is not uvailable,Borrower shall pay to Lender each munth a sum equal to
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<br /> � • one-twelfth of the yeariy mortgage insurance premium being paid by Botiower when the insurance coverage lapseil or cessed to
<br /> '_::'�Y i,. , �; � be in effect.Lender wil!accept,use and retain these payments as a loss reserve in lieu of mort�age insurance. Loss reserve �
<br /> - � Forrt+3028 9/90
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