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<br /> - - ---------- - _ --- .r naws��
<br /> 10'7� _-
<br /> 95-• =
<br /> S. Ho�zurd or Property I»suruncc. Bonower shall keep the improvements now cxfsting an c�reaRer crected c►n the �
<br /> Praperty in.surcd ag�inst losv by fire, hari►rds included within the tenn "extended covernge' und uny uttien c�izurdg, inclading ��
<br /> floodx or flocxiing. far which Lender rcquires insurance. This insunuice shull be mu�ntaincd in tho amounts nnd fur thc periuds _
<br /> that[.ender tequires.The insurnnce carrser pmviding the insurunce shaU be chasen by Barmwer subjcct to Lcnder's approvul
<br /> which shull not be unreuconabty aithfield. If Borrower fnils to maintuin caveruge describcd abnve. I.endcr may, at Lender's
<br /> optian.obtain coverage tn protect Lend�r's rlghts in the Property in uccordance with pura�ruph 7. _
<br /> All insurnnce policies und renew�ls shall be acceptable to L.ender und shull Include u standcud mortguge cluuse. I.ender =
<br /> sh�ii have ihe right tv i�oi�i ti��pctilicics a�d sener:als. If ixnsler requtre�,A�R�wer shall pramptly ttive to i.ender cill reccipts af c_ _
<br /> paid premlums tu►d renewul nodces. In the event of loss,Borrower sh�ll gi��e prompt notice to thc insurance curricr und I.cnJer.
<br /> Lender may m�lce proof of loss if nut m�de promptly by Borrower.
<br /> Unless L.ender and Borrower otherwise agree in wt�tins.insurance proc.eeds shall be applied to restoration or repair of the
<br /> Property damaged.if the reswratfon or repair is economicelly feasible and L.ender's security is not lessenod.If the restorntton nr
<br /> c+epair is not economicafly feasible or 1.ender's security would be lessened.the Insurance proceeds shall be upplied to the sums
<br /> socured by thfs Securicy [nstrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br /> !'roperry. or does not answer wlthfn 30 days a notice from Lender tMat the inaurancc c�rrler has offered to settle a claim,then _
<br /> Lender may collect the insurance procee8s. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument.whether or not then due.The 30-day period will begin�vhen the notice is given. —
<br /> Unless I.�nder and Borrower otherwise a�ree in wrlting, any applicatton of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments nferred to in paragraphs 1 and 2 or chaagcs the amount of the payments. If
<br />- under paragraph 21 the Properry is acquired by L.ender.Borrower's right to any insurance polldes and proceeds resulting frora
<br /> damage to the Property prior to the acqu�sttion shall pass to L.ender to the extent of the sums setured by this Security Iasuvment
<br /> immedtately prior to the acquisition.
<br />- 6.Occupsancy,Preservation,Mainteaance snd Profectian o!thc Praixrty;�rcoe+ec's Loan Application;I.easeholds. _
<br /> Borrower shall occupy,establish.and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Securiry Instrument and shall conHnue to occupy the Property as Borrower's princ[pal residence for at least one year aRer
<br /> �����r�u��,��;I,�,�T Q����8g�;�wrinng, which consent shall not be unreasonably wlthheld. or unless
<br /> extenuuting circwnstences extst which are beyond Borrower's control. Borrower shail aot destroy. damage or impair the
<br /> Property, allow the Pcopecty to detedorate,or commtt weste on the Property. Borrow+er shaU be in default if any forfeitutc
<br /> action or proceeding,whether civil or criminal. is begun that in Lertder's good faith judgment could result in forfeiture of the
<br /> property or otherwise mateiially impair the lien created by this 5ecurity Instrument or I.ender's securtry interest.Borrower may
<br /> cure such a default and reinstate.as provided!n paragraph 18.by causing the action aT pm�eding to be dtsmissed with a ruling
<br /> that, i� I.ender's good faith determinatiun, precludes forfeiture of the Borrower's interest in the Pmperty ur other materisl _
<br /> Impaimtent of the lien created by thts Security Instn►ment or Lender's security interest.Borrower shall also�be in default if _.
<br /> Borrower.during the loan application process,�ave matedally false or inaccurate infora�ation or statemtnts to Lender(or failed
<br /> to pmvtde Lender with any material Infomnat�on)in connecdon with the loan evidenced by the Note,including.but not limited
<br /> to,representadons concerning Barrower's occupancy of the PropertY as e PrIRCiPaI residence. If this Security Instivment Is on a
<br /> leasehold. Borrower shall comply with al! the provfslons of the lease. If Borrower acquires fee tide to the Property. the
<br /> leasehold azcd the fee tide shall not merge unless I.ender agrees co the merger in wricing.
<br /> 7.Pt+otectton of Lender's Rights in We�ropecty.If Borrower fails to perform the wveneats and agreements contairted in
<br /> tbis SecurIty Instrument,or there is a legal proceeding that may significantly effect l.ender's d�hts tn the Property(such as a
<br /> procee,ding in bankcuptcy,probAte,for condemnatloa►or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatever js necessary to protecc the value of the Property and Lender's rights in the Property. Leader's actions may
<br /> iaciude paying any sums secured by a iten whtch t�as priority over this Security inNiument. appearin� in court. paying
<br /> reasonable attorneys'fees and entering on the Property to make rePairs•Although I.ender may take action under this paresraph
<br /> 7.LQnder does not have tv do so. .
<br /> Any amounts disbwsed by L.ender under this paragcaph ? shall becorae additiot�! debt of Borrower secured by this
<br /> Security Instrument. Unless Borrower end I,ender agree ta other terms of payment.thes�amounts shall bear interest from the
<br /> dute of disbursement at the Note rate and ahall be payable, with interest, upon nodce from LendeF to Borrower requesting
<br /> payment.
<br /> 8.Mortgsge Insuranoe.If I.ender re�uired mortgage insurance as a oondidon of cnaldng the loan secured by this Secutity
<br /> - lnstnunent, Borrower shall pay the premiu:ns required to maintain the mortgage inswe�►ce 3n effect. If. for any reason, the
<br />__ mortgage insurance coverage required by Lencier lapses or ceases to be in effect, Bottower shall pay the pnemiwus requtre�w
<br />- obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substandally equivalent to the
<br />� cost to Borrower of the mortgage insurance previously in effect,from an altemate mortgage inaurer appmved by Lender. If
<br />-- substantially equivaient mortgage insurance coveruge ts not avai[able,Borrower sha11 pay to I.ender each month a sum equal to
<br /> — one-twelfth of the yearly mortgage Insurance preuilum being patd by Borrower when the insw�ac►ce coverage lapse�or ceased to
<br />— be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 8180
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<br />'-'� Popo 3 of 9 .
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