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<br /> � � � ' S. Ha�rA or Propet4y I�vraIICe. Borrower sh�ll'keep the :mprovemenu now existing or hereaffer erected,on the _
<br /> '. , • . - , , Property insure�aa�t loss by fire, har.�rds included within the term"extended coverage" and an}�other haz3rds.`including
<br /> °= . � flaods or flo�ding,for which Lender requites insurance.This insurance shall be maintained in the amounts and for the periods
<br /> � '�� : � • ' that Leader requires. The insurance carrier providing the insurance shall�6e chosen by Borro�cer subject to Lender s approval . ,
<br /> - ` .which shall not be unreasonably withheid. If Berrower fails to maintain coverage described above. Leader may,at Lender's . , ._
<br /> __ _ `�Y��� .. option.obtain cor•erage to protett Lender's rights in the Pcoperty in accordance with para,graph 7. -• -� � .
<br /> , ---�:
<br /> • ' , � All insurance policies and renewals shall be acceptabte to Lender and shall inc!¢de a'standaYd mortgage clause. Leader .
<br /> , • • shall have the right to hold the policies and renewaSs.If I.ender requires.Borrower shall promptly give to L e n der a l l receip t s v f . ".
<br /> • �-• < , paid premiwns and renewal notices.In the event of loss,Borrower shalt give prompt notice to the insurance carrier and Lender.
<br /> . � � � . Lender may make proof of loss if nat�ade promptly by Borrower. ,., , • �
<br /> = �� ` . Unless Lender and Borrower otherwise agree in writing,insurance praceeds shall be app&ed to restorarion or repair of the ,
<br /> • � , property damaged,if the restoration or repair is economically feasible and Lender s securiry is not tessened.If the restoration or � ��.� �
<br /> � : repair is�not economirally feasible or Lender's securiry would be lessened,the insvrance proceeds shall be applied to the sums '' : ,: }:�y-n,-_,�"�=;;�_`
<br /> ,: secured by this Security Inswment, whether or not then due, with any excess paid to Bosrower. If Borrower abandons the _ _ „
<br /> _ �` � � Property,or does not answer within 30 days a notice from Lender ttiat the insur�.nce carrier has offered to settle a cIaim,then _ ': ,�, `�=
<br /> �� • Lender may collect the insurance proceeds..Lender may use the proceeds to repair or mstore the Property or to pay sums � .,,s, _,.r-
<br /> ;ai:,-�_.
<br /> � ' � ' � secured by this Security Instrument.whether or not then due.'Fhe 30-day period will begin when the natice is given. , ;,;r-..�--:_
<br /> Itcation of roceeds to rinci shal!_nQt �.stend or '''`-"'•
<br /> � ' Un2ess Lender and Borrower otherwise agree in writing, any app' p P P� �
<br /> _` �,,`.::::.•.��
<br /> ' . ' , • � postpone the due date of.the monthly paymenu refecred to in paragraphs i'and 2 or change the amount of the payments. If . ' �?:w,r:,� d
<br /> , � _ under paragraph 21 the Property is acauired by Lender.�Borrawer's right to any insurauce policies and praceeds tesulting from •`••.,,�,,_r._;�,r�`
<br /> •-- } ' �damage to the-Property�ptior-to-the acquisitionshal!_pass.to I.xnder to the extent of the sums.secarcd by this Security Instr�neat _ �=
<br /> �� �
<br /> , . , immediately prior to the acquisition. " � • Y `��—
<br /> � � ,_ • b,pccupaIICy,Preservation,Maintenance and Protection of the Property;Borrower's Loan Appltcat[on;Leasehotds. : „�.,
<br /> ` � � "- �_ � Boaower shall occupy,establish,and use the Property as Borrower's princ�pal residenee within sixry days after the execution of : .
<br /> � • -� this Security Inmument and shail continue to occupy the Property as Borrower's principal residence for at least one year after f� ` � :
<br /> � the date of accupancy,untess Y.ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or upless �•'`a
<br /> �. �� extenuating cireumstances exist which are 6eyond Borrower's conuol. Borrower shall not destroy, damage or impair the . r•
<br /> � _ . .' Property, altow the Property ta deteriorate. or commit waste on the Property. Borrower si�all be in default ff any forfeiture
<br /> . action or proceeding,whether eivil or criminal, is begun that in Lender's gaod faith judgment could result in forfeitnr�of the
<br /> � � � Property or otherwise materially impair chc lien created by this Security Instrument or I,ender's secupry interest.Borrawer�may
<br /> � cure such a default and reinstate,as provided in paragraph 18.by causing the action or proceeding to be dismissed�vith a ruling
<br /> � that, in L.ender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material � �1,;; •
<br /> • � impairment of the fien ereated by this Security Instrument or I.ender's security interest. Borcower shall also be in default if �' ��I
<br /> . _ .. ..._ . __.. . Barrower,during the luan application process,•gave materially false or inaccucate information or statements to Lender(or failed •.,��';�.
<br /> , , . " to provide I.ender with any material information)in caiuiection with the Ivan evidenced by the Note,including.but nat limited . •r-_,�,'�
<br /> •j� : , � to,representations concerning Borrower's occupancy of the Property as a principal residence.Tf this Security Instnunent is on a ,,R
<br /> . � . , � leasehold, Borrower shall comply with ali the provisions of the lease. (f Borrower acquires fee title to the Properry. the .. �•„y-:'
<br /> leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. . • �/
<br /> ` 7.Protectlon of Lender's Rights in the Property.If Borrower fails ta perf'orm the covenanu and agreements cantained in �'� �T
<br /> � • ..� this Security Instn�ment, or there is a legal proceedina that may signi f ccant ly a f fect L en der's rights in the Prope r ry (such as a +�•
<br /> � , . proceeding in bankruptcy.probate, far condemnation or forfeiture or to enforce laws or regulations),then Lender may do and , •
<br />- , ' pay for whatever is necessary ta protect the value of the Property and Lender's rights in the Property. Lender's actions may , ��
<br /> �� ' include paying any sums secured by a lien which has prioriry over this Svcurity Instrument, appearing in caurt, paying . . . �. '� . .
<br /> reasonable attorneys' fees and entcring on thc Property�o make repairs.Although l.cnder may take action under this paragraph . -�
<br /> `a4 . ..
<br /> • ' 7,Lender daes not havc to do so. •
<br /> ,� , �. Any amounts disbursed by Lendcr under this paragraph 7 yhall bc:ame additional dcbt of Bono�ver secured by this . �: . .
<br /> • . � Security Instrument. Unl,,ss Borrower and Lender agree to other terms of payment, the,e umounts shall bear interest from the , . •
<br /> � ` � . , � date of disburscment at the Notc rate and ahall bc payable, with interest; upon notice from Lcnder ta Borrower reqnesting :
<br /> - . ' ' � , payment.
<br /> • ' , S.Mortgt�ge Insurance.lf l.ender reyuired mortgage insurance as a conJition of making thc loan secured by this Security .
<br /> ' ' . Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the • �
<br /> . �� ' • . mongage insurance coverage rt;yuirui by l.ender lapses ar ceases to be in effect.Borrower shall paY the premiums required to
<br /> - • � obtain c�verage substantially equivalent to the mortgage insurance previously in effect, at a cost�ubstantiaQy equivalent to the
<br /> - cost to Borrower of the mortgage insurance previously in effect. from an altcmate mortgage insurer approved by Lender. li' .
<br /> • substantially eyuivalent mortgage insurance wverage is not avail:�ble.Borrower shall pay to Lender each month a sum equal to
<br /> • � one-twelfth of the yearly mortgage insurance premium bein�paid by Borrower when the insurance coverage lapsecl or ceased to . .
<br /> . • be in effect.l..ender wilt accept,use and retain these payments ar u loss reserve in lieu of mortgage insurance. (.oss reserve •
<br /> � ^ Form 3028 9190 '
<br /> ,�.•. - � : - ' Fa7o 3 of s - ,
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