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<br /> ,� � 3. H�a�rd or Pro ort inaur�ace. 8orrower shall k ��5- 104'7'193
<br /> , : p y eep the improvemente ow existing or hereeiter erected an
<br /> . the Proparty inaurE;d against toss by liro,ha;cards includcd within tho turm "axtendc:d covcrago" and any ather hexerda, �
<br /> ...:..xz,1� including tlooda or tlooding,ior ahich Lender requires insurance.This insutanca'shell be maintalned in tha smaunts
<br /> �� and for the perIods that I.ender requfrea.Tha insuranca cemler provjding the inaurance ahatl bo chosen by Borrowe�
<br /> � '�:��� subject to Lendor's approval which ahal l not be unreasonably wtthheld.It Boaawer Qaila to maintain coverage described
<br /> '"�,±'" ebova, Lendar may,at Lander's optioa�obtain covarnge to protect l.ender's rights�n the Pmperty in eccardance with
<br /> Pa�aStaPh 7.
<br /> .. All inaurance policies end renowals ahell ba acceptnble to Lender and shall include a standard mortgaga cleuse,
<br /> " I.ender shaU have the dght to hold tha poltcies and renewals,If Lender requites, Borrowet shall promptly give to
<br /> I.ender all receipts oi paid premiums and renawal nottces.In tha event ot lvs9,Harrower shali give prompt notice to the
<br /> ' insurance carrler nnd Lender.Lender may meke proof of loss it not made promptly by BorroNer.
<br /> �� � ' Unless Ler�der and Hottower otherwlse agrea in writing,tr�surance proceeda shall ba applied w restoration or tepair
<br /> � oi the Property damaged,if the reatmratton or repair ia economicelly feasible end Lender's security is not lessened.Ii the
<br /> _;; ��;� restoration or repair is not oconomicelly feastbla or Lender's seourity would ba lessened,tha insurnnca procxeds ahall be .
<br /> _ _ � applted to the suma secured by this Security Inattumertt,whethet or not then due,with any axcess paid to Borrower.If ,
<br /> �•� ' Borrower abandons the Property,or doea not answet within 30 deys a notice from Lender that tha insurance carrIer hes
<br /> _ 'r*,. �- offered to sattle a elaim,then Lender may colleet the insurance �roc�eds.Lertd.r may use the proeceda to repair or '
<br /> ---.� ,- _--.__ restore tre Pro g e�t;or t o gay s�ms�cu r e 3 by�t h i�S e:v r ity Insirarnoai,a r.ct her or nat t h e a dnc.T he 3 o-�y pen a!r.�i t! °
<br /> begin when the nottca isglven.
<br />.�. ' :"„�t Unless Lendar and Borrower otherwise agree in wrltfng,any applicedon oi proceed�to principal shall not extend or �'-�`
<br /> � postpone the due date ot the monthiy paymenta referred to Inparegrephe 1 and 2 or chenge the amount of the paymente.
<br /> • . • .�(� If under paragreph 21 the Prc�patty is acqutred by Lender, Horrower's right to any insutance policies and ptoceeda �
<br />;-,.� � resulttng irom demage to the Property prior to the acq�Isidon ehall pase to Lender to the extent of the eums secured by �;`.
<br /> thia Securtty Instrument immediately prIor to the acquisidun. ''
<br /> 6.Occupancy.Freservation. Maintea�aee aad Psotectlon of the Property;Bonower's Losn Applicatioa; ;;�.>
<br /> '�.- LeaseIIolda.Borrower ehall occu y�esteblish,and use tha Pro es Bonoaer's r�nci residenca within e�xt da s .;i:..
<br /> � .�;, � P�Y P P� Y Y
<br /> <<� ; -� after the exe�;utton of thie Secunty Instrument and ahall continue to occupy the Property as Borrower's princtpal '-
<br /> :�:..�+,- ° residonce Por as ieast one year afier tho data oP ocaupanay.uniess Lender otherwisa agrees in wriring,whieh consent ehaU
<br /> � . w not ba unreasortabty ai thhold,or unle�extenuating c�rcumstsnces exist ahich are bayond Borrower's control.&►rtovrer `-
<br /> J'"' ' shell not destroy,damage or impair the Property�sllow the Property to detedorate.or commtt weate on the Property. -
<br /> _j ' - ° � Hotroaer ahell be in detault ii any forfeituc+e act�on or proceedIng.whether civil or criminal.is bagun that in Lender's
<br /> �.;��ry,,�r�« �` ' ood faith'ud ment could result in forfeiture of the Pro y' pair the l�en created by this
<br /> . , , g � g perty or otherwise materIall �m _
<br /> �.�__�:5�,,�';�.; ,� Secur{ty Instrument or Lender's security inteteat. Borrower mey cure such a default and reinstate, es provided in
<br /> ; t<y�.;�� � paragraph 18, by ceusing ths action or proceeding to be disrnissed with s ruling that, in Lender's gceod fa�th
<br /> '�':..�1,�(��-"���r� datermination.precludes for[eiture oi the Borrower's intetost in the Pmperty or other material impairment of the lien E,!
<br /> ��� •��- ��= ' created by this Security Instrumant or Lertder's seourlty interest.Borrowar ahall nlso be in default if Borrower,dw3ng
<br /> 3�'�r+�rj��'-��'�;. tha loan applicatton process, gave materIally false or inacaurate iniormatIoa or state:nente to Lender (or failed W �
<br /> °:�'S+'�!`�7�=.:,�� � provida Lertder with any matariel ir�formationj in corutect�on with the loas�avtdonced by the Note�including,but not %°'_
<br /> ���'� limited to�raprasentaY.ians concemin �orrowar's ocau n of the Pm �
<br /> :�:ri;-�_-.YE;m 8 Pa �i' P�'tY as a principal residence.If this SecurltY �;;�-_
<br /> ,..,-_��•�__ti°�^ Instrument is on a leasehold,Borrower shall comply with sll the proviaions of the l�se.If Borrower acquirea fea title tc� �`-
<br /> '° "�"' the Proparty,tha leasohold and the fee title shall not mer e unless Let►dera
<br /> �. g grees to the merger fn wrlting. � �-
<br /> �r . �1_'�#}� 7. Protection of Leader's Ri�hte in the P�operty.It BorroNer tails to partorm the covenatus and agreemants � ''
<br /> __ •rf�.�;�`f conteined In thie Security Ynstrument,or there ia a legel proceeding that msy significantly affe�t Lender's righta in the �.-=
<br /> __��,;��,v,����� Property (auch as a proceeding in bankruptcy. probste, for condemnation or torteiture or to enforca laws or �::
<br /> _:'°�,cr�•� ••.c. tegulat�one)�then Lender may do and pay for whatever is necessary ta protect tha value of tha Property end Lender's �
<br /> �"°°''""'-'� rights in �the Propercy. I.erider's actions may inaluda paying any sums secured by a lien which hae priority over thta �''�'�
<br /> `°r�`;�4� 3ecurity Instrument,eppearing in court.paying reasonable ettorneys'feesand entering on tha Property to make repaire. ��'-
<br /> :�....
<br /> .��,:.__��:= t Although LEnder may teke action under thie paragreph 7,Lendec does not have to do so.
<br /> -" Any amounte dtebursed b Lender urider this ara � �
<br /> " �- Y p gtaph 7 shal l become additioasl debt of Borrower secured b this
<br /> �,:,,:''��- Y
<br /> - � ��'�r�:'�". �.. Se�urlty Inatrumen�Unless Borrower and Lender egree to other terma of payment,these amounta ahall bear Interest -
<br /> �""����"'" from the date of disbursement at Ne Note rate and ahall ba payabla�with interest�npon notice irom Lender to Borrower --
<br /> ,„„,.
<br /> '��; - ' recl g PaY '
<br /> _ �rr.�+��-- ttastin ment. --
<br /> -.�;'';r'.``:-x"`� 8. Mort s o Iaeuraace. If Leader
<br /> ,._..?, ... g � requited mortgage insurance as a condition oi making the loan secured by this
<br /> _ Secur�ty Inetrument,$orrower shall pay the premiums requtred to maintein the mortgage inevrenca in affect.If�tor any
<br /> �;,�;;; ' - ` reason, the mortgage inaurance wverage required by Le.nder lapses or cease,s to ba in e4fect,Borrower ahall pay tha ;
<br /> _''•:t?;;�. : premiums required to obtain coveraga substentielly equivalent w the mortgaga inaurance previously in effect,at a cost �'�
<br /> � substantially eqirivaient w the cost to Borrower of the mortRage insorence previously in effe�t, irnm an altemate
<br /> �� � • mortgaga insurer spproved by Lendar. If eubstantielly equi valent mortgege insurance coverage is not available,
<br /> - Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being
<br /> .'�:. " paid by Borrower when the inaurance coverage lapsed or ceased to be in etfect.L,ender wi11 accept,use and retairt these
<br /> � '��:•� payments ae a loss reserve in lieu of mortgage insurance. Loss resetve payments may no longer be cequired, ' '
<br /> � _ Ferm 3028 9/90
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