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<br /> _. � ��'� ��� `. 4 �: 95-.soos�� . � . :=-
<br /> � � . , . g. A�rd or pm}tetqy Imvrant�. Borca�ver shall kcep the impmvemcntc nativ eaisting or hereafter`erected on�the �; t . �
<br /> z � �. • property i�ssured against loss by fi�.hazards included within the term"extendcd coverage" and uny other hazards, iacluding , �-
<br /> ` '. �` floods or flaocling,for which Lcnder requices insuratsce.This insurance sttall 6e mainiained in the amounts and for the periods . •�.
<br /> ', c ' that Lender requlres. 'Che insurance c:�rrier pr�viding the insurancc shaLl be chosen by Borro�ver subject to l.ender s approva! `- `,�
<br /> . • � which shall not 6e unreasonably withheld. [f 8orrowcr fsuls to maintain coverage described�bove. Lendec maY• �t Le�►dei s •
<br /> . -� - oprion,u6tain coverage to protect Lendcr s tights in the Properry in accordance with paragaph 7- _ _ _ _
<br /> All inswance pu�ICies ar►d*eneWals shall be acceptable to Lendcr and shail inciade a siandarc#tnortgage clauss.Lender � ..
<br /> _ - �. 'r shall have the right m hotd the paticies and rehewals. if Lender requires.Borrower shall prompfly give to Lender all receipu of . . _
<br /> .� , � � paid premiums and renewal notices. ln the event af toss.BorraKer shall give prompe nocice to the insurance carrier and Lehder. �<
<br /> �- c- '' �.ender may make praflf of loss if not made prompt�y by Borrower. • . ,,�,. .. .-
<br /> - ' ' � < � LTniess L.ender aad Borrower atherwise agree in writing,insurance praceeds shall be applied ta restotation or repair of tAe , ._ .•:.: . :
<br /> . '' �,�` property damaged.if the restaration or repair is economically feasible and Lender's securi.y is not lessened.If the mstoration or w•..•..., : �., Y:
<br /> �.. �,. ...;
<br /> � cepair is aot econamically feasible or Lender's security would be lessened,the insurance proceeds sha11 be a�plied to the sums : _s ,. , . ,
<br /> —.�{.,�` :.. , � ,.� secured bY this Security Insuument,whether or not then due. with any excess paid to Borrower. If Borrower aba7adons the .. . . �K. :�,.�,Y•-
<br /> ---`�' ' Property,or does not answer witbin 30 days a notice from Lender that the insuranee rarrier 6as offered to seAtle a claim.then :, � � :^, _
<br /> """�''. . Iender may called the inswance praceeds. Lender may use the proceeds to repair or restore the Property or ta pay sams __ .�,.,�:� ._
<br /> �'_"���� secur�by this Security Instrument,whether or not then due.Tlie 30-day period will begin when the nodce is given. a �"`
<br /> ��-�-• C�nless Leuder and Boaower othenvise agree in writing:�ny appiication of proceeds to principal shall not extend or �" �„�,� _-- -
<br /> h3 1 and 2 or chaa e the amount of[he payments. If ' ° ��-�=
<br /> �,,-.�• �, .� postpone the due date oi the monthly paymeau referred to in paragrap S =�' -_.
<br /> __�' � under paragrap6 21 the Praperty is acquired by Lender,Borrower's right to any insuranee policies and proceeds resulting fmm . ,� ,� - ---
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<br /> = , _ ..�. . •.. _._._._.. . _d�e-to th�P.roperty.�riQt to the acqnisition shall�a s s to Lender to the extent of the sums s e c u r e d by this Securi ty Instrument ---- - ..� �`
<br /> �.
<br /> � . . ` immediately prior to the acquisipon. - ----�--- ---�-�- ` _
<br /> .., 6.p�cnpaacy,Preservation,Maintenauce and Protection of t4�e Property;Borrower's Loan APpl[catEon;I.easeholtLs. ___---_-_
<br /> �..�, �. :,.
<br /> cn �"�`y
<br /> � � � ' ,°w: Borrower shall occupy.estab�ish,and use the Property as Borrower's principal residence within sixty days after the executian of ' `.__=
<br /> �' "� �- : - this Securiry Instn�ment and shall condnae to occupy the Property as BorroN+er's principal 7esidence for at least one year after �:<-�=--
<br /> .�: . ��.:s���_
<br />,�'. " ,. !� - tlie date oP occapancy:antess Lender otherwise agrees in wriring.which consent sHatl not 6e.unreasonably cvithhel�•or unless
<br /> _�, .; � , extenuating circumstances exist which are Beyond Borrower's control. Borrower shall not desvoy, damage or impair the �
<br />--�' , Property:allow the Property to deteriorate.or commit waste on the Property. Borrower shalt loe in default if any forfeiture
<br /> -�'. _ ;•;;,_' action or praceeding,whether civil or criminal.is begun that in[.ender's good faith judgment could result in forfeiture of the
<br /> • Property or other�vise materially impair the lien created by this Security Iristrument or l.ender's security interest.Barrower may
<br /> � , � . . •� cure such a default and reinstate,as pmvided in paragraph 1�.by causing the action or praceeding to be dismissed with a ruling
<br /> � that, in Ixnder's good faith determination, precludes forfeiture of the Eorrower s interest in the Property'or other material •
<br /> �- - � . . impairmeat of the lien created by this Se.�vriry Instrument or I.ender s security interest. Borrower shal! also be in default if �*
<br /> �' � ' " Bortower,durin g the toan application process.gave maierially false or inaccurate information or statements to Lender(or failed
<br /> ��'
<br /> ��� - to pravide Lender with any materiaf infonnation)in connection with.the loan evidenad by the Note,Including,bui not limi t e d
<br /> ''i� to.representations concern�ng Borrower's accupancy of the Property as a priacipal residence.If this 5ecuriry Instrument is on a
<br /> � " .� leasehold. Borrower shall comply with sll the provisions of the lease. If Borrower acquires fee tide to the Property. the _ _ _
<br /> _ � ' • ' • teasehold and the fee title shall not merge u6less Lender agrees to the merger in writing. ___-�
<br /> - � 7.Proteetion of Lender's Righis in the Property.If Horrowec fails to perform the cov,enanu and agraemenu contained in „_•�
<br /> -�" � ' this Security Instrument,or t here is a le g a l p r o c e e d i n g t h a t m a y s i gnificantl y affect Lender's rights in the Property(suc6 as a - _ �__
<br /> — `..s��• proceeding in bankruptcy.probate.for condemnation or forfeiture or to enforce laws or•regulations),then Ixnder may do and ����
<br /> �a ' n�• • .`�' , pay for whatever is necessary to pmtect the value of the Property and Lender s rights in the Property.�Lender's actions may m,
<br /> .��� - • 'i�' P Y 8 tY ry �n court, PaY�� _ -- - -
<br /> � � include a in any�sums secured by a lien which has prioci over this Securi Instrumeni, appearing ' =F.v--
<br /> ��. � , � � ., reasonab(e attomeys'fees and entering on the Properiy to make repairs.Although Lender may take action under thas paragrapb �}���-
<br /> —�• � •k 7.Lender does noi have to do so. . ^�;
<br /> � ;,, .� �...
<br /> . ' . Any amounts disbursed by I.ender under this paragraph 7 shall become additional debt of Bonower secured by this ti,��-� ._ � _�
<br /> -•���:�_
<br /> � � Security Instrument. Untess Barrower and Lendcr agree to other terms of payment.thce amoums shall bear interest from the ;,=.�,-_ _
<br /> _�__�.__
<br /> d a t e of disbursement at the Note rate and shall be Qayable, with interest. upon notice from Lendei to Borrower requesting ' ��,���',��::.�
<br /> � payment. � - l..•_.="!'§ ,:-:•:
<br /> �. . � 8.Mortgage Insurance.If Lender required mongage insurance as a condition of mak➢ng the tosu�secured by this Security .. �
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<br /> � � ' ' instrument. Borrower shall pay the premiums required tu maintain the mortgage insurance in effect. If. for any reason, the
<br /> :;'�- • . ' • mort�age insurance coverage required by Lender lapses or ceases to be in effect.Borrower shall pay the premiums required to ;
<br /> �� : ., � •• . obtain wverage substantially equivalent to the mortgage insurance previously in effect.at a cost substantially equivalent to the
<br /> =�_ • • ' ' cost to Borrower of the mortgage insurance previously in effcct. from an altemate mortgage insurer approved 6y Lender. lf
<br />�'�'�' � � , substanrially equivalent mortgage insurance wverage is not avaitable.Bonower shaU pay to I.ender each month a sum equal to .
<br /> •�a• . ' one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed ar ceased to
<br /> '�" � • be in e�fect.Lender wiU aceept,use and ret�in these payments as a loss reserve in lieu of mortgage insurance. Lass reserve �
<br /> �� ' . " � Form 3028 9/90 -
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