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<br /> �` �=��"��r'7 S.N�ra,rd or I'rop�rty InaurAnce. Baeiawer shall kecp tk�o improvcrosnts now extsting or heceuft�r erected�n the Propeny �-
<br /> .ifr � 3 .
<br />--`__��--_=:'r'�; insiued t�,�lnst lass by fiee.hauudv lncluded within th9 term "cxcend�eA coverage" nnd uny nther hawrds,inctuding[1ooc19 0� �.
<br /> -T�j`*F:`;`►�' Raalinp.for which I.endcr reqUire.v insurance.'I1iiv insurnnce shull be malntalned in the amounts�d f�r the pesiods that Lendc� ' " -� �• ��`=�
<br /> '':�:��.:_;„:•�:�,,� ;. raquu�.�w i.�su��uica c:�.icr�;�ov►dL��tEie i:�s�u.�,.ce sha�l b�cha�:,n tsy�crroercr subj;;st tn I.�nder's epprovn!tivhiEh�h�II R[ll � '� =
<br /> ;-;,:��;�'_,�i' be unr�awn�ly withheld. If 8or,owe� fails t� naintai�� covcrage described above. i,cnder may, ut Lender's optioit, obtain �' _ ...
<br /> -°.-�'��=''; coverege tn pratoct I.ender's rights in thc Properry in acCOrtlance with par9graph 7. r�
<br />-�""'�� All ins�uanco polkies nnd rencwals shull bo occeptabk to 1.Gndcr end shaU include a standard mortgage clause.Lender shall -
<br /> '•,:'�''�" . �- �r have tha right io hald lhe poi'scies s�nd�eacwafs.If Lender rcquires.8orrower shall prompUy give to Lcnder all reccipts of paid • ,.
<br /> .� . . `,,, :. prcmIums and renewal noticcs.In t he cvcnt of los�,Borr�wu shall givc prampt rsoticc to the ins►uance carrier and Lcndcr.L.cnder :
<br /> �.r .:�. , may�iiake�roof of loss if not r�adc pramp8y by IIorrowcr. -
<br /> ,�="''- '' Unk.ss I.ender ond Borrowcr othc�wise agrcx in writing. insurance procceds shull be applied to restoration or repair of the
<br /> '-4':��•�'` ' - proputy cl�magal.if the restoration or rpair is excnomically feasibte and Lcndcr's secarity is nas lessened.If the restorntion or (•' �
<br />,'•,_; . ': repair is not oconomically fcasibk or Lcndcr's sccurity would be Lcssencd,the insurancc proceeds shall tse applied to the sums -� •
<br /> �.„ secured by this Security Ir.strumen� whether or noi then dua,witl�any excess paId to Borrower. If Borrower ubandans tEse ° '
<br /> : ,'•":� Ptoputy.or dnes not answer within 30 days a nodcc from Lender ihat the insurance carrler has offered to settle a claim,then „w..-�.__:--_
<br /> ""., Lender may colkce the insuran�c procculs.Lcnder may usc thc procccds to repair or restorc the P[operty s�r to pay sums sacured „ .��:,,;�•;r -
<br /> ` ° y � by this Sec�uity Inswmcnt,whethcr or not d�en duc.'Ihe 30�day period will begin whcn the n�rice ia givcn. - ;��; . �-
<br /> _n;;,;:�. '�...'..:��. Unless Lender and Aorrower otherwise agree in writing,any appGcation of proceeds to principal shall not eatend or postpone , .���
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<br /> �np��w�fl+��f►hr.monWty navmenu rcfcared to in aarus�anhs 1 and 2 or chan�c the amou�t of the payments.If under part^�mph �`- -,• � •� �
<br />-- _ --:,--_ _
<br /> , .,'� , 21 tho Frvperty is s►ccquired by I.en��r. Borrower's right w any insur2nce pollcies and gzooeeds rtsulting from dama;r,�rr�the ° - ----- -
<br /> � � �#; Propcity �i�r w thc ar�luisition shall pnss w Len6cr to tho eatent of tlhe sums secured by tlus Security Insm�ment immediately •+ �I" �'L��;��:� :
<br /> _ ;�a � prior to tho acquisidoQ. rj° .
<br /> • ' 6.(ksupancy,Preservatian,ldiatntenance and Protection at tde PropesQy; Borrower's Lo�a Applkatbn;l.easehQWs. •: �: . �
<br /> � ' ' Bo:row�c3uill occupy.establish,ar.d uee the�:o�:ry as Borro�rer's principal residence within suty days atter the eaecudon of _ ,,., �,�
<br />: , ":�, this Security Insuument and shall condneic to occupy the Prope�ty�v Bo�rower's principal cesidence for at l�t ane year aftcr the . �r;�'_
<br /> •� �'. date of atcupancy. unless Lender otherwise agrees in writi�, �vhich cansent shall not be unreasonably withheld,or unless •���
<br /> ' eactenuuting circumstaaces exist which are beyond Borrower's con�ol.Bonrower shall not destroy.damage or impair the Pcoperty,
<br /> �, '�'
<br /> ' ' allow thn Property co deteriorate, or commte wa�te on tnc i'c�operty. eforrower sitall be in dei'aui� u any forieiiw�xuun ur ' "
<br /> . ,; proc.eeding,wheiher civil or criminal,is begun that in Lender's�aod faith judgcnent could msulc in forfeiture af the Property or ' ��
<br /> ' ' � othcrwito materiaUy inepair Ihe Ge�created by tl�is Security I�s�c:r.�ent or Lender's security i�nteres�Borrower may cure such a ;, . �:.•,�r'� �
<br /> � ' default and reinstate,as provided in paragraph 18, 6y causing the acoian ar Froceeding to�e dismissed with a ruling that, in ' �t,:f''�
<br /> A I,c�der's good faitb dc�ermination,prccludes forfeiture of Ihe Bort+nwer's intea�,st in the Property or other material impalimcnt of . ' ;'�y_
<br />� • � Ihe lien creaicd by th.�s Security Insuument or I.cndcr's sccurity interest Borronzr shall also be in dcfault if Borrower.during the
<br /> . �: , loan app�ation prncess,gave materially false or inaccurate infortnadon or statements to Lender(or failed to provide Lender wiih � � �
<br /> , � any matcrial ir�forrt�ation) �n connecaon with the loan evidenceci by the Note. including, but not limited to, representadons ,, �� �: ,g
<br /> • •• • � w� conceming Borrower's occupancy of the Pro�erty as a principal msidence.If this Securiry Instrumeat is on a leasehold,Borrower i ' `
<br /> � �' ' shall wmply with all thc gmvisions of the lcase.If Borcower acquires fce Htle to the Property,che leasehold and the fee ddc shall � '
<br /> '` not mergo unless Lender agrces w the mergcr in writing. , �. '_ , .
<br /> � � ;! 7.Protection of Lender's Right�in the Property. If Borrower fnils to perform the covenanu and ageements contained in i , .• , ,
<br /> . �' .�.,} this Securiry Insw�nent,or there is a I�gal proceeding that may signiticantly affect Lender's rights in the Propercy(such as a �
<br /> • '• ;�� procoeding in bankruptcy,probate,fos condemnation or forfeiture or to enforce laws or ecgulations),then Lender may do and pay i
<br /> for whatflver is necessacy to protect the value of the Propeay and Lender's rights in the Property.Lender's acdons may include �
<br /> � � paying any sums secuscd by u llen which has �Sriiority over ihis 5ecurity Insuvment, appearing in court, paying r�easonable {
<br /> ;�f suomeys'[ces and entering on the Propeity to ma�ce regairs.Although L.ender may take action under this paragraph 7,l.ender -
<br /> '" does n�i have to do so. � y��'�►.
<br />_ ���: r� Any amoun�s dLsbursed by Lender under this paragraph 7 shall become addit'vonal debt of Borrower s�xured by this Security
<br /> ' � Insuum�nt Unless Borrowcr and Lcndcr agrea to other terms of payment,these amounts shall bear interesc from the datc of '
<br /> ' • disburscment at thc Nota rate and shall be payable,with interest,upon noricc from Lend�er to Bonower reG�;sting payma�t
<br /> . �.Mort�Age Insurance. If Lender mquimmcii mortgage insurance as a wndition of making the loan sacured by this Securiry j
<br /> • :•:_,,�; . Inst�u.�snt,Boaower shall pay the premiums required to maintain the mortgage insurance in effecG If. for any ccason, the
<br /> , ,, = mortgagu insur•u!ce coveragc required by L.ender lapses or ceases to be in effect,Borrowea shall pay�he premi►uns requircd to ' '
<br /> .. abtair►coveraga suUst�ntinlly cquivalent to the mortgage insurance previously in effect,at a cost substantiially equivalent to the ; ..
<br /> ' + cost to Bo►rowcr af¢he mortguge insurance previuusly in effect, from � aSi.�mate mertgage insurer�rovod by 'Lender. If
<br /> � ' subsmncislly equivaltnt mort�agc insurance Coverage is not available, Boxrower shsll pay to Lender eaa'�month a sum cc;ual to ,
<br /> _ one-tr.�"_ft�of thu ycarly mortgage insurance premium bcing pnid�y�orrower when the i�surance coverage lapscd ar c�sc,�!to
<br /> ��� bc in effe�t I.ender will accept, usc and retain thesc payments s�s a loss rescrvc in li��c�mortgage insurance. Loss rescrvc
<br />- 4 ;.
<br /> Form�028 B/90
<br /> �•eil(NE)Ic�iz� aao.�m e inmau:
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