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<br /> -->-� c-��� . S. Hazard os Froperty Im�vrmtoe. Botro�ver shalt [ceep qhe impmvemems now exisuing or&ereafter erectat on the ' . " •
<br /> - °"'-'�'�':�;-• Pr°perty insarcd against loss Iry fire.ha7ar�ds inciuded within the term."extended coveiage°a�si any other hazards.inclading ��` " _
<br />`�`�r.�' ' flaods ar floa�ing,for afiich I:ender t�quires insuraace.Ti'1is[nsur�tce shall be mainrained � ' , .
<br /> . .. �: ;" in the am�a�and for t�e perieds
<br /> � ��` :� �;.r.--' . that Lender requires.The insurance carrier providing the insurance shall be chosen by Borrower subject to Lendei s appmva! � � ; ,
<br /> -- ,';,����,� which shaI1 not be unreasonably withheld. If Borrower fails to maintain ooverage descnl�eQ above, Lender may, at Lender's . .'
<br /> �.,�`___ �.. '� .•:.. Qption,abtain caverage to protect L.ender's rights in the Propeny in accoidance weth p�aph 7. - -
<br /> ��"'�.,. � � All insurauce poiicies and renewals st�ail tse acceptabte to Lender and sha1J include a standard mortgage clanse. Lender �
<br /> __. ;�_,.:;• shall have the right to hold the policies and renewals.If l.ender r�uires,Borrower sha11 proa�tly give to Lender all receipts of _ � . . - ,
<br /> - -' �� � � paid premiams and renewal notices.In the event of lass,�orrower shall give prompt notice to the insorance carrier and Lender. '
<br /> �, ,• .-Y `,
<br /> ��E�t °•- I.ender may make proof of�los�if nnt made promptly by Borrower. . , s; _ �'
<br /> ,;�,��c�. Unless Lender aIId Bormwer otheranse agree in writing,insuiance proceeds shall,be applied to restoration os repair of the •� : � -
<br />° i���r� ;•�. Property damaged,if the restoiation or repair is econamiplly feasible and.Lender s securiry is not tesseaed.If the restoration or � '�? ' ��.� .
<br /> ° -�2'•���'-*�-;, repair is qot economicall feasible or Lender s securi would be lessene�,the insurance roceeds shall be lied tn the sums "«� �:-•'��3'-`�'�
<br /> __;:�=^,:.•...,� Y tY P aPP .• .- 5,� -•;;.
<br /> .„-t., _• �- secured by tf►is Security Instrument,whdher or not then dae, with any excess paid to Borrower. If Somower abandons the .� l�"`�-' =�
<br /> `r'.�. -i Property,or'daes not answer within 30 days a nodce from Lender that the insurance carrier has offered to settle a ctaim,then � ' %��-,F `�� ��
<br /> ` ' Lenale�may collect the in���nrp p��. ��r may use the pmceeds to repair or restore the Property or to pay sums � ` �� - -
<br /> ' I� �. ' secured by this Security Iastrument.whether or not then due.The 3Q-day period�viU begin when We notice is�ven. . .� ,.�,�` "a-,��,--
<br /> . ,<a�.; .�,,;`_�
<br /> .�. liniess Lender and Borrowec otherwise agree in arriting, any appiication of proccrds to principal sha11 not extend or ,�� � :�_
<br /> - ••�a� • ' postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If � .�,,,�,��
<br /> �;�.;y�__: ' under paragiaph 2l the Property is acquired by L,ender,Borrower's right to any insuranr,e policies and pmceeds resalting from - ---_-=_- _-
<br /> - .._ ___ -
<br /> •f�' ------.--._damage.to.the ProPerty-Prior.to-the acquis;tion shall-pass to-�.ender to�the extent of thesums-�ecured�{ry-this-Security�Instrumenq---._.._ � }�%.:<--
<br /> `�. immediately prior to the acquisition. • � .,
<br /> . , ''�� 6.(kcuPancY.PreservaBon,Maintenaace and Protedion of the Property:Borrower's Loan AgpUc�itont Leasehoids. � rr"` -
<br />_ . ' . Borrower shall accupy,establish,and use the Property as Borrower s principal residence�.ithin sixty days after the eaecution of , `"�
<br /> � ,=:-• .;':w �
<br />`' � � ti�is Securi Instrpment and shall continue to occupy the Property as Borrowei s ' cipal residence for at ieast oae year after
<br /> - -=—•,.. �_..._ ty -
<br /> -_-. ::. . • ��•,
<br />".•, . _ the date of accu- - unless l.endei otherwise - - _.. __... ,.. . .
<br />_;�,. . . .,� puncy. agrees in wridng,which consent shal! not be unreasonubly withheld,or unless � •._+
<br /> _.f _.
<br /> •, . • extenuating circumstances exist �vhich a�e beyond Borrower's controF. Borcower sh�ll not destroy. damage or impair the '
<br /> .. , .'�' • Property, allov�the Property to deteriorate,or commit waste on•the Property. �3orrower shall be in defanit if any forfeiture '�'}�?s�.��: .,
<br /> , �' �;�� action or proceeding,whether civil or criminal,is begun that in L.ender's good faith judgment oould result in forfeiture of the �`
<br /> , Property or otherwise materially impair the lien created by this Secvrity Inswment or Lender's securiry interest.Bormwer may ' ;;�.�:
<br /> _ - . cure such a defanit and reinstaxe,as provided in paragraph !8,by causins the action or proceeding w be dismissed with a ruling � 'N'"' �
<br /> _�,.��„ , ' that, in Lender's good faith determination, precludes forfeiture of the Horrower's interest in the Praperty or oiher material , � •r •-:r''"
<br /> - , impairment of the leen created by this Security Instrument or Lender's securiry interest. Borrower si�all also be in default if ' L, �
<br /> Borrower,durin the loan a Itcation rocess, ave materiall false or inaccurate infom�aaon or statemenu to Lendec(or failed �� �''�`
<br /> ,:^=� : S PP� P S Y '� �'�•' -
<br /> • . to provide Lender with any materia!informarion)in connection with the loan evidenced by the Note.inctuding,but not limited �
<br /> • : to,representations conceming Borrower's occupancy of the Property as a principal residence. It'this Securiry Insuument is on a � � r7••�; `
<br /> , ., , . . �• leasehold, Borrower shail comply with all the provisions of the lease. If Borrower acquires fee atte ta the Property. the " � ' ���`%�`�
<br /> � , leasehold and the fee titic shali not merge unless l.ender agrees to the merger in writing. '` . ,����
<br /> '��" � � �� 7.ProtecHon of Leader's ts In the Pro
<br />'.-;,;ti::..', Righ perty.If Borrower fails to perform the covenants and agreements contained in ' ���_t�>;�`*�
<br /> �?����' �� '� this Security Instrument,or there is a legal proceeding that may signifcantly affect Lender's rights ia the Property (such as a � �-
<br /> '.,°�. .
<br /> .?�' ��`�� . :-�' proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and �
<br /> -��;'.-�'��:` for whatever is neces '� � �'
<br />�,� , pay sary to protect the value of the Praperty and Lender's righu in the Property. Lender s aciions may ��°�•;..
<br /> = include paying any sums secured by a lien�which has priority over this Security Instrument, appearing in court. payin� � �` =t'� '
<br /> -_ •-'� ' re�sonable attorneys'fees and entering on the Property to make repairs.Aithough Lender may take action under this paragraph � ��.�"�
<br /> �%=� �-,�-' � _ �.Lender does not have to do so. . ,
<br /> • � r: Any arrtounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by tl�is
<br /> �' ' ' . Security Instrument. Unless Borrower and Lender agree to 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 fro:n Lender to Borrower requesting � � '
<br /> �:,., ' Payment. � _ . . ..
<br /> _� •--• • .. S.Mortgage Insurattce.lf Lender required mortgage insurance as a condition of making thc loan secured by this Security `
<br /> ����'�:''��¢" ' instrument. Borrower shall pay the pmmiums required to maintain the moctgage insurance in effect. If; for any reason, the
<br /> -vt�"3',�,�:' :i�t .
<br /> '�:�:�.'��.��•: mortga�e insurance coverage rec�uired by Lender=apses or ceases to be in eFfect,Borrower shall pay the premiums require�to � - =- � -
<br /> +: ;.,;��.. .�, obtain cover� e snbstantiall •
<br /> ,:�.�, g y eyuivalent to the mortgage insurance.previously in effect.at a cost substantially equivalent to the . . . .
<br /> �;.,
<br /> cost to Borrower of the mort a e insurance reviousl
<br /> _ �r�.,,.., g S p y in effect, from an altemate mortgage insurer approved by L.ender. If
<br /> _ :�'��:���� substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to
<br /> -'�.x14..-.�. .
<br /> �°�;";ti°:,;�� one-twelfth of the yearly mortgage insurance premium being paid by Borrowet when the insurance coverage tapsed or ceased to
<br /> '''' �_�; be in effect.I,ender wil!accept.use and retain these paymepts as a toss reserve in licu of mortgage insurance. Loss reserve � �� . �
<br /> , .{;�:,, � • . .
<br /> •r a:.�:?'•'�'' Form 3028 9/90 .
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