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<br /> ��_5�-�.06`713 �_
<br /> g. Hnzard or Property lnsuritnnce. Bormwcr shull keeo the improvements now ex�tttg'or hereuRer erected on the
<br /> property lnsured sgainst loss by fire,hauirda lncluded within the term "extended oovemge"and any other haza�ds, lncluding
<br /> floods or fioodins, for wl�ich Lendcr rcyotres insurance. This invurnnce shnil be maintuined 1n the smounta urtd for the periods c
<br /> that L.ender requires.The innurance carrier pmviding the insuranee shall be chosen by Barrower subj�t to Lender's approval
<br /> whtch shall not be unreasonably wlthheld. If Bonower fatls to mniatain covenige described above. Lender muy. at I.euder's
<br /> option,obtein coverage to protect I.ender�a d8hts in tha Property 1n accordai►ce with P�S�Ph�'
<br /> f+l!tnsurar►ce policies and renewals shall be uc,cepteble to L.ender and eh�ll Ine�uda u su►ndurd mortgage clause. I.ender
<br /> shaU have the right to hald the poUcies actd renew�ls. If Lendet reyuires.Borrower sha11 promptly gtve to Lender all reoeipts of
<br /> paid premiums and�enewal nodces•In the event of loss. Bormwer Fhall Sive prampt notice to the insurance c:u[ter and Ixnder.
<br /> L.ender may make proof of loss if not made prompdy by Borrower. �i���,toradon or re a1r af the
<br /> Unless Lender and Borrower otherwise ag►�e!n writing.insurance proc�ds shali be app P
<br /> propertyr damaged. if tho restoratlon or repair is econnmically fensible and Ixnder's security is not lessened.If the restorndon or
<br /> repair Is not economically feasible or Lender's securiry would be lessened,the insurance proceeds shal�be aPPlied to the su�s
<br /> ��yy th;s Sec�uity Insuument,whether ar not then due,with any exc�s pa[d to Horrower. If Borrower abandons the
<br /> property. or dc�es aot answec within 30 days a notix from L+ender that the insurance c�rrler has affered��r to��a�sums
<br /> L.ender may coUect the insurartce proceeds. l.ender may use ti�e prooe�,ds to repair or restore the Pro rcy P Y --
<br /> secured by this Security Instrument,whether or not then due.The 30�day period will begin when the notice Is given.
<br /> pnless L,ender and Horrowea otherwise agree in wrhing, any application of procee�a to princtpal shall not extend or
<br /> postpone the due dat�o�r the monthlg payments rcferced to In psuu�aphs 1 and 2 or change the araount of the payments. If
<br /> under psragraph 21 the Propecty is acquired by Lender. Horrower's rigttt ta any lnsurance policies su►d proceeds resultla6 from
<br /> damage to tho Property prior to rhe acquisitiun shall pass to L.ender to the extent of the sums secwed by thia Se�udty Inswment
<br /> immedistely prior to the acquisition. Bo��,�+s Loan Appllcallon;Leaseholds.
<br /> 6.Occupancy,Pr4set�atton, Maintenunce and Protection of tbe Propertyi
<br /> Borrower shafl occupy.establish,and use the Property as Borrower's principal restdence withln sixty duys after the executton of
<br /> this Security Instnunent and sh�ll cantinue fo occupy the Property as Borrower's principal residence for at lrast one year after
<br /> the date of oocupancy. w�tess�.eader otherwise agtees 1n wrldng.which conseat shWl not be urmeaaonably withheld. or unless
<br /> extenuating circumstances exiet which are bryond 83rra�vsr'° rabts°!. Burm�r�r �t►'-!Il not destroy. damape or impuir the ,
<br /> property, allow the Property to deterlorate.or commit weste on the ProPertY• R°n'°wer shall be in default if any forfeiture
<br /> acdon or pmc�eding,whether civil or crlminal. is begun ihat in Lender�a good fai�i►Iudgment wuld cesult in forfeitun of the'
<br /> property or otherwise maceriallY imPa�r the lien cteatod by this Securlty lnsuument or I.ender's security iaterest•Bomower ma�►
<br /> cvre such a defautt and reinstate,as pmvIded in paragraph 18,by causing tt►c uction or proa�eding to ba diamisse�i�e ���
<br /> thpt, jn I.ender's good faith determinatian, p�ecludes forfeilure af the Borrower's interest in the Property
<br /> impairntent of the Uen czeatcd by this Security Insuvment or Lender's se�urity interest. Borrower shall also be in defauit if
<br /> Borrower,dudng the loan applicatlon process,�ave matedally false or inaccurata infomaatiou or statements w I.ender(or falled
<br /> to prov(d�Lznder wlth anY tnaterlel informadon)in c°nnecuon wlth the loan evidenced by the Note;including.but not limited
<br /> w�representadons wnceming Borrower's occupancy of the PropertY as 8 PriaciPal�s�dence.If thls Sec:urtty Iasmiment is o�►a�
<br /> teasehotd. Borrowet shall comply with all the provisions�of the lease. If Eorrower acquires fee titIe to the Property. @►e
<br /> teasehotd and the fea dde shaU not m�rge untes�1�ender eBr�a co the merger in writing.
<br /> 7.ProtacMon of I.ender'9 Rights in the Property.If Bomower feils to perform the c4venants and agreements contsined iu
<br /> this Securlcy Inst�ment.ar thxre[a a legul praceeding that may signiflcantly affect I.ender's rights in the ProperlY (such as a.
<br /> ps�oceeding in bankniptcy.probate,for condemnation or forfeiture or to enforc�e laws or regttlations),then L.ender may do and
<br /> pay for wha¢over ia neassar�r to protect the value of the Pcoperty cu►d Lender's rlghts in the ProPertY•Le�der's acdons raay
<br /> include paying any sums secured by a tien which hns prtority over this Sec�rlty Iasuument, appcadng in court, paying
<br /> tebsonstbie attomeys'fas and entering on the Pcoperty to make repa�re•AW►ouB►i I.ender may take actioa under this paragreph
<br /> 7�Lender does not have to do so.
<br /> ' Any amounts disbursat by I.ender under this pa=agraph 7 sh�ll beoorae addlNonal�lebt of Borrower secured by thia
<br /> $eCUdty Instrument. Unless Borrower nnd Lender agree fa other terms af payment.these amounts sha11 bear interest from the
<br /> date of disbursement at the Note rat�and shall be payabie,wtth interest, upon nodce tiom Lender to Bor[ower roquestfig
<br /> a t
<br /> p g,�Mo�g�g��ur�nce�1f Lender requlred mortgege lnsuruno�as a condldon of rt�aking the loan secured by this Secutiry
<br /> ;nstrument, Bonuwer sbaU puy the premiums raquirCd W maintain the mortgage insurance in cffect. If. for eny reason, tba
<br /> mortgage insurnnce coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums rc9uired to
<br /> obtain coverage substanttWly equtvalent to the mortgage insurancc previously in effect. at a wst substanHally equivalent to the
<br /> cost to Borrower of tho mortgage insurance previously in effect,from an nitemnte mongase insurer'appmved by I.ender. If
<br /> - substantially equivalent mortg�e insucance coverage is not available.Borrower shall pay to Lender each month a swn eqeial to
<br /> one-twelRh uf tlie yoarly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceasesl to
<br /> be�e��.���.�„iUl eccept� use and retain these raymems as a loss reserve in lieu of mort�age insurance. Loss reservc
<br /> Form 3028 8l90
<br /> P�ge 3 af 0
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