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<br /> . ° - S. Hui.urd ar Pruperty fasurance. Darrawer shnll keep the imprcwcmcnt� ni�w rxi�ting or hereufter ercctcd ��n tl�e �
<br /> � .. Propeny insured ugaintit Ic�ss by fire, h�un1�included wiehin the term"extendcd cuven►ge"und any uther ha.nrdy, including
<br /> tlaocis or flacxling. ti�r�vhich Lcncicr requires insuruncc.This in.r•urancc�hull bc m�fntuincJ in tIM umountti und fi�r thc pericxls
<br /> ' ' th:�t l.ender requireti. "t'he �nsur�nce camer providing ehe inaurun�e+I:uii br�ha,t n by (1.���row�r �ubject tu L.cndcr'ti appn�vul ..
<br /> which �hall nat bc unrcatianubly withhcid. If Borrowcr fails to maintuin curcragc dcscrihcd ut�wc. I.cndcr muy. at l.endcr's ••
<br /> ' � ..- option,��Muin c�wcragc t��prc�tat Lcndcr's rlghts in thc Property in arconiancc with parrgraph 7.
<br /> ���:�'�~" All inrurance policies und re�ewals shull be ucceptable to l.enci�r and shall inrlude u stunJurd m�mguge cluusc. [.ender
<br /> '- � '"`'' shall huve the right to hotd the policies and rencwnls. If Lender rcyuires,Borroa•er�hull prumpt ly give to I.ender ull reeripts uf
<br /> ^ � ' paed premium.g snd renewul notires.In the event of'lass,Borrowcr shaU givc prom;N nadcc to the insur.ince currier and l.ender.
<br /> „ Lender may make proof of loss i(not made promptly by Born�wcr. '
<br /> ������ Unless Lender and�arrower othenvise agree in writing. iasurnncc pracceds tihall bc upplicd ta restaration or repair of the ,
<br /> ' ° ' ` �,,.;�;,�, I�roperty damaged,if the restontion or repair is ecanomically feasible and I.ender'ti security is nnt Iessened.If the restomtion or
<br /> " � repair is nat economically feasible or Lender's security would be lessened,the in�urnnee proceeds shall be applied ta the sums :
<br /> � - � secured by this Scxurity Instrument, whether or not then duc. with uny cxcess paid to Barrower. If Borrower abnndons the �.
<br /> ����fs• Property,or does not unswer �vith in�0 duys u nottce from Lender that the insumnce carrler has offered to settle A claim.then
<br /> �' • ' L.ender ms+y wllect the Insurance proreeds. Lender may use the proce.eds to repair or restore the Propetty or to pay sums
<br /> ��� � secured by this Security Instrument.whether or not then due.The 30�dny period�v ill begin when the natice Is�iven. .
<br />`"`-�-Y, Unless l.ender and 9arrowci atherwi�e ubre� ii� w�ittr�g, aa� applir�tion af procceds to principa! sha!! not extend or -__
<br /> �� • '� , postpone the due dutc of thc mnnthly paymenu referrcd to in paragrnphs t und 2 or change the amaum uf the payments. If `��
<br /> • r;-;� under pazugraph 21 the Property is ucqutred by l.ender. Bonawer's right to any insurnnc�e policies und proceeds resulting from _�,
<br /> . � � damage to the Pruperty prior tothc acquisition shall pass to Lender to the cxtent of the sums r�ecured by this Security Instrument ^''.
<br /> , " � ���•",�;; immediately prlor to the acquisition.
<br /> . , � 6. Oocupancy,Preservatian, Maintenettce and Protection of the Propertyt Borrawer's LAan Application;I.easeholds.
<br /> , T Borrower sh�l1 occupy.establish,and use the Property as Borrower's principal r�sidence withln sixty days after the execuuon of
<br /> � � this Security Instrument and s(ull continue to occupy the Property as Borrotiver's principal restdence for at least one year after �..
<br /> � T the date of occupancy, unless Lender otherwise agrees in writing. which consem shall not be unreasonubly withheld, or unless �,,;_;
<br /> .. '`t;:"•:,r: ' �`,
<br /> �.;:,F�•r extenuuting circutnstances exist which am beyond Borrower's control. Bonower shall not destroy, damage or impssir the __
<br /> �`' :'%•�'�,��?f'1'��' Pcoperty,allow the Property to dereriorate, or commit waste on the Property.Borrower shali be m detauit ii uny iorfeiture =-
<br /> • .,;;:ai:�,Y� „•,: ---
<br /> ' ��� action or proceading,whethe r civil or criminal. is begun that in L.ender's goad faith judgment could result in forfeiture of the _-
<br /> - „ .. ,- i Property or otherwise matertally irs�pair the lien created by this Security lnstrumecst or Lender's security interest. Borrower may =
<br /> � '�� cure such a default and reinstate,as provtded in paragraph 18, by eausing the action or proceeding to be dismiss�xi witli u rulin�
<br /> � '' �:.:�� —�-
<br /> •- ' `i�`i';r::i
<br /> - . .:-�r�•:5•`'''i, that, in I.ender's goad fnith dcterminatian, precludes forfeiture af the Bonower's interest in the Property or other material
<br /> , .�, .• j:�:.;;;Y�
<br /> ,-; `- �;... impairment of the lien crcated by this Security Instn:ment or I,ender's security interat. Borrower shall also be ln default if —
<br /> : I•�;
<br /> =+�-F�;:������ = Borrower,durEn�the loan application process,gave muteriaily false or inaccurate information or atatemonts ta Lender(or failed ----
<br /> .. : �' •.?�, , to provide Lender with any material informution)in connectian with the loan evidenced by the Note.inrluding.but not limited
<br /> '"; ';'':;; to,representations wncernin�Borrower's oc:cupancy of the Property as a prineipal residence.If th�is Security lastcument is on a m_
<br /> � .,.: _
<br /> . , f ; leasehold, Borrower shall comply with all the provisions of the lease. If Borrower ucyuires fce title to the Property. the —.-
<br /> ' •t��• ' leasehold and the fee title shalt not merge uniess Lender a�rees to thc merger in wridng. --�-
<br /> .'�r�.r�t:n�•�h�+� --
<br /> :;��c„��;�-w• • 7.Protection uf I.ender'e Rights in the Property.If Borrower fails to perfocm the covenants and agreements contained in
<br /> ^�y� � ��i� �' this Security Instrument, or there is a legal proceeding that may significantly affect L.ender's rights in the Property (such as a �=
<br /> "=�="`'" procec�ding in bunkniptey,probate,for condemnation or fort'eiture or to enforce laws or regu{atians),then I.ender may do and �'
<br /> '�t�;�`�;�:_'^� pay:or whatever Is r.ecessary to protect the value of the Prope�xy und Lenders dghts in t1u Property. Lender's actions may °`°
<br /> .. �r, ,... —
<br /> :� �:='::'3' include payin� any sums secw�ed by n tien which has prtority over this Saurity [nstrument, appearing in court, paying _-
<br /> - ' reasonable uttorneys'fees nnd rntedn�on thc Property to mal:e repairs.Although Lender may take action under this paragritph
<br /> "�-�°������ �' 7.I.anderdoes not have to do w. R
<br />_ =. �-,�fi
<br /> -=�►=;•,•,-•� . Any amounts disbursed by Lender under this paragraph T shall become additional debt of Borrower secured by this __
<br /> =�`t;��u.,�,;;;}��;���� Security Jnstmment. Unless Barower and I.ender agrce to other terms of payment, these amounts shull Ucar interest frc�m the —_
<br /> __���� "'�� date of disbursement at the Note ratc and shall be payAbic, with interest, upon notice from Lender to Borrower requesting
<br /> ..�* ��_
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<br /> o:,E,,,�„rr-�� . P Y —
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<br /> ,,,::�"�'.':;;�;'..,..� `• 8.Mortqage Insucance.If L.ender required mort�a�e insurance as a cundi�ian of mak.ing the toan secured by this Security �
<br /> ',;' � '•" L t, � Instrument. Borrower shall pay the pmmiums required to rr�aintain the murtg�ge insurance in effect. If. for uny re�ason, the ���
<br /> '���� mortgage insurance coverege rcquired by Lender lapses or ccases io be in effect. Borrower shall pay the pretniums reyuired to �:?
<br /> .r,:��.; . y:,
<br /> '- . ::�:�;;i;4� obtain coverage substantially equivulent to the mortgage insurance previnusly in effect,at a cast substantially equivalent to the �_
<br /> „ �; cost to Borrawer of the mortg�e insurance previously in effect, frram an Wtemate mortgage insurer approved by Lender. If r'_`
<br /> ' . •' x� substentially equivalent mortgage insurance covern�e is not available.Borrower shall pay to Lender each month a sum equal to
<br /> � ' ane-twelfth of the yearly mortgage insurunce premium being paid by Bormwer when the insurance coverAg�lopsed or ceased to
<br /> ',��;:..;;;, be in effect. Lender will accept,use and retnin ahese payments as a loss reserve in lieu of mort�age insurunce. Wss resecve
<br /> ��.�..
<br /> • ' Form 3028 9/90
<br /> - , PotJO 3 ot 8
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