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<br /> 5. Htu.ursl or Pruperty Inwurance. Borrowcr shull kcep the impmvcmcnts nnw exititmg on c�reaftcr erectal on thc ,.:1:
<br /> �� Property tnsured aguinst lass by ftre, hazards includexi within the terni "extenda!rovcrugc" and uny uthcr hsuards,including � ...-�-
<br /> ' flcx�dti nr fl��oding,fix which [.endcr rcyuires insuruncc. This insursmcc.hutl br muiaai ncd in thr amuuntti and for thc periods � .
<br /> • , thnt [.endcr rcyuires. The imurancc catticr providinb thc in.ruranre shall bc chincn by Bnrruwcr subicct to Lcidcr'�apprnvut ..
<br />,. which shall not bc unrrasonably witl�held. If Borrower failti to muintuin ruveragc Jc�rribcd alxwc. Lender may, ut Lcnder's
<br /> • optian,obtain caverase to protert Lender's rights in the Pmperty in uccordance with parugruph 7. •. �� � �-
<br /> ' r�� All insurance policies and renewals shall b�acceptahle to Lender und shaU irxlucie u stundard mortgugc cluusc. l.ender , �
<br /> � �� +hal l have the right ta hold the policies und renewals. lf I..ender requires,9o�rower shall prompdy give ta I.endcr uU receipts of „
<br /> . „ ' paid premiums and renewal nottces. In the event of loss, Borrower shnll give prompt not ice tu the insurance cunier wid Lender. •
<br />, . , L.ender may make praof uf loss if not made promptly by Borrower. .. �:
<br /> ' • Unless I.ender aixl Bocrower otherwise agree in writing,insurance proceeds shull be upplicd to restoration or repair of the ^ ,_
<br /> � Property dtunaged,if the restaration or repair is economically fcasiblc and Lendei s saurity is not lessened.If thc restorutian or , „ 'M
<br />: repair is not economically featiible or I.ender's security wouid be less�ned, the insurance proceeds shall be uppliecl ro the sums
<br /> � secured by this Security Instrument, whether or not then due. with any excess paid to Borrawer. If Borrower ��bandons the , .. �►
<br /> Property, or does not unswer within 30 duys a notice from Lender that the insurance carrier hac offered to settle a claim,then „ �
<br /> �`'� f'• ° Lender �»ay coilect Yhe in.r•uranee proceeds. Lender may use the proceeds to repair o�restore the Propeny ar to pay sums ., _=_
<br /> "���� secured by this Securiry lnstrument,whether or not then due.The 30-dny period will be�in whcn the notice is glven. -'""���� �''
<br /> rt,�. • . . �-
<br /> ' • � Unless Lender and 8urrowe► uth�rwise agrcc in «�rit:n�, an}� spplicntion of pr�c+cds to �rincipal shall nat extend or ___ -_ '
<br /> postpone the due date of the monthly payments refetted to in paragraphs 1 and 2 a chan�c thc umount of the payments. If � � 'C r
<br /> � under puragrt�ph 21 the Property is ucquired by I.ender, Barrawer's right to nny insurance policies and proceeds resulting from . '� �� ,�„••�`_
<br /> . ' .." damoge to tl�e Properry prior to the ucquisition shall pass to Lender to the extcnt af the sums secured by this Security Instrument �:;,�
<br /> +, . immediately priorto the acquisltion. ' • "���•'°"—
<br /> . � 6.Occupancy, Preservation,Matntenance and Prutect[on of the Property;Borrower's Loan Application; Leasehold4. _��`;
<br /> '" .. j� . 8orrower shall occupy,establish,and use the Property as BaROwer's principal residence within sixty dAys aRer the execution of
<br /> ' this Security Instrument and shall continue to occupy the Prapeny as Borrawer's principnl residence for at least one year after ,__. _
<br /> the date of occupancy,unless L.ender otherwise agrees in writing, which consent shall nat be unrea.4onably withheld,ar unless � ` � �.j�
<br /> ..-:, . .,.;; - cxtcnuaiing circum:tances exist which �rP heyond eorrower's controL Borrower shall not destroy, damaRe or impair the = _ .', . :�j
<br /> �';�',;,.. Property, ultow tt►e Property to dctertorate,or cammit wastc on the Property. Borrower shall be in default if any forfelture '�
<br /> � � action or proceeding.whether civil or criminal, is begun that in L.ender's good faith judgment could result in forfeiture of the ';�.;
<br /> _,�' •� Property ur athetwise materially impair the lien created by this Security Instrument ar Lender'�securiry interest,Horrower may ` .
<br /> ' ' , cure such a default and refnstate,us pravided in paragraph l8, by causing the action a proceedin�tu be dismissed with a ruling •s � � + �
<br /> . � that, in L.ender's good faith determinutian, precludes forfeiture of the Borrower's intei�est in thc Praperty or other mater�al •
<br /> , •� impairment of the lien created by this Securfty Instrument or Lender's security interest. Borrower shall slso be in default if �
<br /> ' Bonower,during the loan upplication process,gave materially fnlse or inaccurate information or statements to Lender(or failed �
<br /> ' � , to ptovide Lender with nny muterial information)in connection with the loan evidenced by the Note. ineluding,but not limited '�L•'
<br /> , , � to. mpresentations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a „ , ��
<br /> � • Ies�sehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the �
<br /> ,;���� leaseh�ld and the fee tide shnll not►nerge unless I.endcr agrecs to the merger in writing. • ��•-
<br /> '��• " 7.Protectlon of Lender's Rights in the I'roperty. If Borrower fails to perforrn the covenants and agreements contained in '''�
<br /> ; ., � , . " , �. this Security InstNment, or there is a legal proceeding thnt muy sibroificuntly affect Lender's ri�hts in tht Property(such as a °� � _
<br /> - „ proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws c�r re�ulutions),then Lender may do iutd ':' --—
<br /> . -t° pay for whatevcr is necessary to pratect the value of the Property and Lender's rights in the Property. L,ender's actions may �": '�'�
<br /> _ • Indude paying any sums secured by a lien which has prioriry over this Security Instrument, appearing in court. paying :�<�;.,.,.;�,�
<br /> '� reasonable attorncys'fees and entering on the Property to muke repairs.Although Lender may tuke action under this parn�caph , _ --
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<br /> � ° 7. Lcnder does not have to do so. .
<br /> �� Any atnounts disbursed by Lender under this paragraph 7 shall become additional debt uf Borrower securecl by this `'"
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<br /> �� • Security Instrument. Unlcss Borrower and Lcnder agrex to othcr terms of pnyrnent,these amounts shalt bear interest from the �-`;,�'� ��-�_
<br /> �� -� date of disbnrsement at the Notc rate and shall be payablc, with interest, upon notice from L.endcr to Borrowcr requesting •''•�,-�`
<br /> .. , payment. � '°° °
<br /> � � � � 8.NortQage Insurance.If l.ender required mort�age insurance as a condition of making the loan secured by this Security �'"'° .� ,
<br /> . ' Instrument. Borrower shaq pay the premiums required to maintain the mort�age insurancc in effect. If, for any n;ason, the . " "
<br />- � mortgage insurance covernge�equircd by Lcnder lapses or ceases to be in effect, Borrower shatl pay the premiurns rcquired to
<br /> - obtuin covernge substantially equivalent to the mortgage insurance previously in effect,at a cost substuntially eqrsivnlent to the
<br />.- „ cost to Borrower of the monguge insurance pneviausly in effect, from an ulternatc murt�age insurcr appravcd by Lender. If ..
<br />- � substantially equivalent mortgage insurance covernge iti not u�•�ilable, Borcower shall pay to Lender euch manth a wm equul to , .
<br /> one•twelfth af the ywrly mort�a�e insurunce premium being paid by Borrower when the insurance cnvera�e laps�d or ceased to
<br /> be in effect. L.ender will accept,use nnd retuin these payments as a loss rescrve in lieu of mortga�e insurance. Loss reserve ' �
<br />_ , , • Form 3028 9190 �
<br />- � • Capo 9 ot 8
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