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<br /> �t'9 5- �1043�.1
<br /> S, �•��t�1��r P+nperty laaurance. Hnrrower shall kce� the improvem�nts now exiating ur hercufter erected on thc
<br /> Propsrty Insured nAainst loss by tlre. hazards included within the term "extcnded cavere�e"nnd uny other ha�nrde, indudins
<br /> floads ar flaoding. for v�hich Lender rcquirea insurartce.This insurance Khup be maintained in the amounts and for the perlods
<br /> thnt I.ender requircw. The insururtce currier providinII the insurnnce shnll be choun by 8orrower subject to l.ender's nppraval
<br /> which ahall not be unreasonubly withheld. [f Barrower fuils to muintain cuveruge descdbed ubove. I.�nder muy. at L.ender'F
<br /> optian,obtain coverage ta Qrotect I.ender's rtgh�ts in the Progerty in nccardnnce with paragruph 7.
<br /> All insusunc� policic�und renewais shell bc acceptable to LenJer:u�d sfl:�ll include u stanJurd mortgvge clause. i.ender =
<br /> shall have the right to hnld the policies and renewatR. If I.ender rcquires.Borrower shall promptly give to I.ender ali retelpts of
<br /> puid premiums and renew�l nottces.In the event of loss,Borrower shall give prompt notice ta the lnsurance currler and L.ender.
<br /> Lender may make pr+oof of loss if not made promptly by Borrower.
<br /> Unless Lender and Borrawer otherwise agree in wdting,insurnnce proceeds shall be applie�to restaradon nr repair of the
<br /> Property d�maged. if the restoradon or repair is economically feasible and Lender's seatdty is not lessened.If the restorntion or
<br /> repair is not econamicatly feasible or Lender's security would be lessened,the jnsurance proceeds shal! bc applied to thc sums
<br /> secure� by thfs SecurIry Instrument, whether or not then due, with any eacess paid to Borrower. If Barrawer ubanduns the
<br /> Property,or does not answer wtthin 30 days a nottce from I.ender that the insurance carrIer has offered to settle a cln�m, then
<br /> Lender may collect the insumnce proceeds. L.ender may use the procee�s to repair or restore the Property or to pay sums
<br /> secured by this Security Insuument,whether or not then due.The 30-dsy period wlll begin when the notice is given.
<br /> Unless Leader and Borrower otherwisa agree in writing, eny application of proceects to principa! shall not extend or
<br /> postpone the due date of the monthly payments referred to in pamsraphs 1 and 2 or change the amount of the paymenus. If
<br /> under paragraph 21 the Properry is acquired by Lender.Borrower's rlght to any insw�ancc policies and pmceeds resulting from
<br /> damage to the Property prIor to the acquisitian shall p�ss to I.ender to the extent of the sums secured by ttiis Security InstroRtcat
<br /> inuncdi�tely prior to thc�cquisitton. -
<br /> 6.Uxupancy,Preservatton,Maintenance aind Protect[on of the Property;Borrower's I.oan Applicadon; Leaseholds.
<br /> Borrower ahalt accupy.establish.and use the Propecty as Bonower's pr�ncipal r�sidenca within slxty days after the execution of
<br /> ttils Securtty Instrument and shall wntlnue to occupy the Property as Borrower's princlpal residence for at least one year after
<br /> the date of occupancy,unless Lender otherwise agrees in wridng.which consent shall not be unreasonably wIthheld� or unless
<br /> extenuattng ctrcumstances exist wtuch are beyond Boaower's rnntrol. Bormwer shall not destroy. damaRe or impair the
<br /> Property, altow the Property to deteriorate, or commit waste on the Property. Borrower shall be In default if any farfeiture
<br /> actIon or procteding,whether civjl or crin�Inal,is begun that ia Lender's good faith judgment could result in forfeiture of the
<br /> Praperty or othenvise materiaqy impair the lien created by this Secudty Instc�►ment or Lender's secudty interest.Borrawer may
<br /> curn such a defautt and reinstate.as provided fn paiugraph is.by causing the act.ion or pmceeding to be dtsmissod with a rulfag -
<br /> that, in Lender's good felth determinatio», precludes forfeiture of the �orrower's Interest in the Property or other matedal
<br /> imp�3rment af the lIen created by this Securlty Instrument ar I.ender's securIty interest. Borrower shall also be in default if
<br /> Borroweq during the loan appiication prosess.gave materlslly false or inaccurate information or atatements to I.ender(or failed
<br /> to provide I.ender�wlth any materlal information)in com►ection with the ioan evidenoe�l by the Note.3nciuding,but aot limited
<br /> to.representations ooncemlag Borrower's occupancy of the Property as a prfncipal res(dence.If this Security Instniment is on a
<br /> leasehold, Borrower shall comply wtth aq the prov[sions of the lease. If Borrower acquires fee tttle to the Property. tfie
<br /> leasehold and thc fea tide shali not merge unless Lender agrees to the mer�er in writing.
<br /> 7.Protedion of Lender's Rights tn the Property.If Borrower fails to perform the covenants and ag[eements rnntained W
<br /> this Security Instiumeat.or thcre is u legal praceeding that may signlftcantly effect I.ender's righta jn the Property(such as a
<br /> proceeding in bankruptcy.probate.for condemnatlon or forfettuce or to enforce laws or regulations).then Lender may do and
<br /> pay for whatever Is necessary to protc�t the value of tho Property and I.ender's dghts in the Propr,rty. I.ertder's ucttons may
<br /> include paying any sums secured by a lien which has prIority over this Socurtcy Instrument, appeariag in court. paying
<br /> rea.gongble attorneys'fee�and entering on the Property to make repairs. Althongh Lender may tak�e acdon under this�arngraph
<br /> 7.i.ender does not have to do so.
<br /> Any amounts disbursed by Lender undcr this paregraph 7 shaD become additional debt of Borrower secured by this
<br /> Sec�rity Instrument. Unless Borrower end Lender agree to other terms of payrceent. tdese amounts shall bear irtterest from the
<br /> date of die6ursement at the Note rate and shull be payable, with interest, upon notice from Lender to Horrower requesting
<br /> payment.
<br /> 8.Moc�tgage Insurane�.If I.ender required mortgage insaronce as a condition of making the loan secured by thia Secudty
<br /> Instrument. Porrower shul! pay the pmmiums rcyuire�to matatain the mortgage insurance in effeot. If, for eny reason. the
<br /> mortgage insureace�ooverage required by Lender lapses or ceases to be in effec*_.Borrower shall pay the premiums cequired to
<br /> obtaln coverage substantielfy equivalent to the mortgage insurencc previously in effect.at a cost substantialiy equivalent to the
<br /> oost to Borrower of the mortgage insurance previously in effcxt, from an alternate mortgage insut+er approved by L.ender. If
<br /> substantially equivalent mortgage insurance ooverage is not available.Borrower shell pay to Lender each month a sum equal w
<br /> one-twelfth of the yearly mottgage insurance premium being paid by Horrower when thc insursncc coverag�lapsed or ceased to
<br /> be in effoct.Lender will ea�ept,use end retein these payments as a toss reserve in lieu of mortgage insurance. Loss resene
<br /> form 3028 9J90
<br /> Papo 3 0}8
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