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<br /> �`�"'��' � " �• � �. Hazprd t�r Plroperty Inse�ti�r.cc. Florrowcr shall kccp the ImprovcmcntA now exlsA��51 cr�"r ciccC�c1'�on �hc �� „ '�
<br /> � �� � P�o��c:�ty lusured agalast losa by fire. t1:u.1t'�I� ie�slntled tv it h in t he �ernt "ex ten d e d cnvern Fe" unJ cut y other haztuds, including
<br /> �. � floode or ilooding, far which Lcndcr requiree insura�cc. This i�isuruncc shall bc maintatncd in �hc nmounts and for thc perlal� i
<br /> �. �'4 that L.cttdcr rctµdres. Thc insurarcc cnrricr praviding thc ineurancc sl�nll Ix ciioscn by Rorrowcr Rubj�ct to I.cndcr's approval
<br /> : • � � which ehell not bc unrcasonably�vidthalA, If E3anawcr fnfls ta mnintnin covcragc dcscriUcd :�bavc, Lcndcr may, nt Lendcr's I ;
<br /> � .'..;''"�'.�T� option,abtain coverage to protect Lender's rights in th:Propeny in nscordanee with parog�aph 7. •
<br /> All insurnnce polict*.� and renewnle shall lr,acoc�CCb!e to Lender und shnq include n standacYi mongage clause. I.,ender � ,
<br /> . ahali l�ave tt,2 ri�ht to hold thc poltcies nr.d rea-wals.IP l.ender requires.Bonawzr shall prampdy give to l.endar all re.ceipts af
<br /> • . . �ald premlur.ro a�u1 renewal aotices. In tAe evtn�of loes, E3orro�ver shall giv�prom,�[notice to the insurance carrier nnd Lend�r.
<br /> � l,endcr may in3Se�:psoof of loss if not m�i:pro�dy by Bo�rower. •
<br /> ' lJnless Lendet a�d Bo�1ro��rer atherwis�agree in writtng, insurance praceed.g sh.�ll be appiled to restoration or repair of thx '
<br /> � �`� � � Propeny dar;iaged,If the restosaeion�or repair is econom:caiiy ieasiole anci Ixuu�t's sc..-urry is:o:l�sser.�. Tf tlie reetax�ilon o* --- — . - -
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<br /> ' ''��� �� repair is not ecouomically f:asible or Lender's security would be lessened,the insuTaace proceeds shall be applied ta the sums �
<br /> ;�, _ . � -
<br /> `+,�4� ' securod by this Securtry Insuument, whether or not then due, with any excess paid to Borrower. !f Borrower abandons the �,.,�',; .-:
<br /> - Property.or daes aat answer within 30 days a notice[coni Lendcr that d�c tnsurunce carrier has offered ro senle a claim, thsn . . • _ ..., ��
<br />_ - LeaBer may collect the insurance groceeds. Lender may use the proceeds to repair or resrore the Property�: to pay surr�a ',� �`s
<br />� • vec�::red by this�ecurity Iusuument. whether or not tl:er�due. The 3Q-day pedod�vill begin when the notice i�giwza. �'"�
<br /> � Unless Lcadcr and Rarrower otherwise agre� in wvicing, any application of ptoceeds to principal shall not extend or �
<br /> postpone the due date of the monthly payrseats refened co in paragraphs 1 and 2 or changc the aznount of the paymonts. Ef ; , �:;„
<br /> �� undcr paragrap�,21 the Progerty is ac�a:ree�by i.ender, Borrower's right to any insurance po!i�.ies and proceeds resulting from ,L�
<br /> .,;, damage to the Propeaty prior ro the acquisition shall pass to I.ender eo the eatent of the su:ns socured by this Securiry Instrument ;`:• �•--
<br /> '� ''�` immediately prior to the acquisition.
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<br /> ''� 6.O�cupaacy,PreservAtion,Maintenaace und P�otectlon of tt�e Froperty;iDorrower's Loa�e Application;I.easehelds. � , �
<br /> Borrower sitall occupy,establish,and use the Property as Borro�ver's princip�l residence within sixty daye after the execution of , , �:.,�s
<br /> >� q -
<br /> this Security Ir.etrument and shali continue to oceupy the Property as Borrower's principal residence for at 1^,ast one year after , �.
<br /> .,� tde date of occupancy,UR(CSS Ltn(iCI tiutciwi�c dbt"'a,i.3 III'�T1t22:a, ;•.'h;�rnacPnr chall n�t he unreasonably withheld. OT ilII1CSS •� "�
<br /> extenuatin� circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the '. ,
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<br /> � . Frogerty, allow the Progerty to detedorate,or commit waste on the Property. Borrower shall be in default if any forfelture �•
<br />: action or prnceeding, whether civll or crinunal, is be�►in that in Lendei's goad faith judginent could result ia forfeiture of the '-:�,��;
<br /> r�.�:,...
<br /> '• Property or atherw[se matedalty impnir the lien created by this Securtty Insuument or Lender's security iatenst. Borcower may ,;��,,:;R
<br /> cure such a default and rei►�state,as provided in paragraph 18,by causing the action or proceedin�to be disinissed with a ruling •�v�;�;.
<br /> . . that, in I.endcr's good faitG determination, precludes forfeinire of the Borrower's interest in the Property or other material �J �
<br /> ' impainnent of tiic lien created by thIs Security [nstnunent or Lender's secuitiry intcrest. Donower shall also be in default if • � •;
<br /> Borrower,during tt�e loan application pracess. gave materially false or i►taccurate information or staternents to Leuder(or failed . `;i,,�•e
<br /> . to provide Leadee with any material information)in connection with the loan evidenced by the Note,including� but not lifl�itod + -
<br /> to, npresentntfons conceming Borro�ver's occupancy of tlie Property as a principal residence. If this Secudty Instrument is or�a � '�•y�' .�
<br /> � leasehold, Bomower shnll comply with alt the provisiann of the lease. If Bonower acquires fee title to tl;e Property, the `�* '�
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<br /> leasehold and tlie fee titic sh�ll uot merge unless Lender agrees to the merger in wr�ting.
<br /> •- , 7. Protect�au of Lendcr's Ri�hts iu the Property. If Borrower fails to perform the covenanGV and agreements contained in j�� • "';�.``��'
<br /> , � this Security In�trumeut, or diere is a legal praceeding that may sibmificantly affect l.ender's rights in the Properry (such as a I , �.�.;��.,
<br /> , procceding in bankivptcy, probate. for condemnation or forfeiturc or to enforce laws or regulations), thea I.ender mav do and � �-.:�.;
<br /> �s , pay for whatever is necessary to pmtec[the value of che I'roperty and L.ender's rights in the Properry.Lender's actians may `'���
<br /> `' I-�� include paying any�sums sccured by a liea which l�as priority over this Security instrumenc, appearing in r.ourt, paying
<br /> _ '� rcasonable attorneys fees and entering on thc Property to make repairs. Although L.ender may take action wnder this paraS�P� ., -�"`I�.
<br /> � 7, L.ender does not have to do so. �
<br /> •• � � .•. Any amounts disbursed by I.ri�der under this paragraph 7 shall become additional debt of Borrower secured by this f, •.
<br /> Security Cnstrumcnt. Unless Borrower nnd I.ender ag:ee to otl�er terms of payment, these amounts shall bear intcrest from the
<br /> • � date of disbursewent at the Note rlte and shall be payable, �vith interes�, upon notice from Lender to Borrawer requesting I �
<br /> , payment. f�
<br />- 8. biortqe�ge Insurance. If Lender requtred mortgage Insurnncc as a wndition of making the loan secured by this Security
<br /> • ;: insuument, Bonawcr sh�ll��ay the pcemiums requ►red t� maintain thc mort�age inaurance ia effect. If, for any rcason, the � ;�':�
<br /> . . mortQage insurance covengo nequired by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to •
<br /> ' , obtuin coveraga substs�nii�lly equivalent to the mortgage insurance previously in effi;ct, ac a cost substantiully equivalent to the ,
<br /> - • cost to Burnowor of tt�a moRgagc insurance previously in effect. from an altcrnate mortga�c i�tsurer approved by Lender. [t �
<br /> _ � substantially eyu[valent mortgagc incurance coverage is not avxilublc,Eoi�+ow�r shull pay to L.en�cr eacli mouth a su��an equ;il to ,
<br /> one•twciRh of Wa ycariy mortgage inEruu►•ancc premium being paid hy L'orrawcr when the in4ur�uta:coverage lapsed or ceaued to
<br /> ,� bc in cffcct.l.ender will acccpt,use and retain t6ese payments as a lass ceservc in licu af mortgagc insurance. Loss reserve ;
<br /> Form 3028 8/90 �
<br /> _ .�"^�' ��BRINEI 191061 Pep��of 0 �mnfrl�-� .
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