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<br /> '• fIazard ��r ?'rap2rt�• i_n,surance. Borrox•cr shall k�p ,}1e iM�;ov;ments now etisting or hereaf;er erected o�� the
<br /> :'roprr;v irsured a�ainst loss by Yire, hazards includPd within the ternt 'extended coverage" and any other hazards, indudine
<br /> .•oods or floo�ling. for�fiich Lender reruires insurar,:e. This insurance shall b� maintained in the arr��unts and for the peric?ds
<br /> ?!�at Ler.de; req�ires. The incurar.ce csrrier proviJine the insurance shall be chosen by �orrower sub ect tn Lender's approva]
<br /> �'�hich s7all not be anreasenably �i�ithhcld. If Bor-owcr fails to maintain co�.erage described a�ve, xnaer may, at L.ender's
<br /> ection. obtair7 co��e,�ge to pro,ect Le�uer's rights in the Praperty in accordance wieh paragra�,:i 7,
<br /> =,1! insurance �o!icies and rene�eals sha!I h;; aeceptable to Ler,c'e* and shali inciude a standa�d mortgage clausr. I,ender
<br /> � si�a�l hatie,h� ��gh( �n hn�� ,�;e �;;��es and �en�u•als. If Lender requires, Borrower shall prompdy gi��e to Lender a11 recei�ts of
<br /> �� p�id pm•;;�mns and rerewal noiices. I� i�e evem o;ioss, Bonower shall give Dro;r.pt notice ro the insurance camer and Lender.
<br /> �::
<br /> � Lend�r rr.ay ma::e proof of los� iF noi made promptly by Borrower.
<br /> �s L?nie�s:_ender un<i Borrcwer ott;�nvise agree in writine, insurar,ce proceeds shall be appl:ed to restoracion or repair of the
<br /> e�� Prc?perty damaged, if the restoratior.or repair is economically feasitile ar,d Len�er's security is not lessened. If the restoration or
<br /> :epair is no; eror�omicafl} feasible or Lender's securit} woul�i bz lessened, the insurance pr�ce�s shall be applied to the surns
<br /> tcc�red by this Secvrity Instrument, wh�the: or not !hen due, w,ch any excess paid :o Bor.ower. If Borrower abandons the
<br /> � Propeny, or does not answer v:ithin 30 days a n+,tice from i.ender that the insurar,ce ca.�-r:er �;s offered
<br /> �
<br /> L.er,der rna�� collect the insurance �:nceeds. Ler.der rnay use the procer„d; to repair er resto;e the Prot�rtyttor fo�aim, then
<br /> � secured hy this Security Irst:ument, whether or no:tne�,due. The 30-day penod wi!i begin�-•hen the notice is given. �y sur-is
<br /> � L�ni�ss Lender and Bo��ower o�he;w�se ;�,ree in writing, any apptication of proceeds to principal shall not extend or
<br /> postpone the due eate oi the rnonthly p:ryr:.ents refcr,ed to in paragraphs 1 and 2 or chan�e the amount ol the payments. If
<br /> �,s, ur.der nara�raph 21 !'�e Property is acquired by Lender, Bonower's rignt to 2ny iasurance poficies ar�d proceeds resulting from
<br /> �a da:��age �o th; proFerty prior te the acquisi!ion shail pass to Lender to the extent of the sems secured by this Secu�ity Insirument
<br /> � immediately prior to thc acquisiticn.
<br /> 5� Occi�pancy, Yre;ert�ation, :�Ialntenance and Protection �f the Pro;r�rty; Borro;.er's Loan Application; Leaseholds.
<br /> Borrower shall occupy, establish, and use the t�rope�y as Bo:rower's principat residence withir.sixty days afrer the execution of
<br /> this S?curity inctr�ment and snall cor.tinue to cccupy the Froperty as Borrowe:'s principal residen,^e fur at least one year after
<br /> the da:e :�f occu�anc�;. unless Lender otherwi;e agrees in w�ritirg, •Nhich censent shatl not �^ imreasor,ably withhetd, cfr�nless
<br /> s� extenuatir,e cire�,�nstance.s exist n-hich are beyond Borrower's control. Borrowe� shall nut destroy, dama�� or impair the
<br /> A Frc.�pe�y, ailo��• t!2e Propery t�, �'ctcr�or�t;,. �,- t�;,;tn;� ,,vaste on the Property. Borrower shal! be in default if any forfeitur�
<br /> �,. acticn or pre�cre�fing, whe�her c��•il ur c-iminal, is b,cur, i:::: :�� L:nder's good faith;udgr.ient c�.•�!.; �csult in forfeiture of the
<br /> Yroperty or othcruise materially impair the lien created bp this Seca7ty In,t;ument or I.ender's security interest. E�orrower may
<br /> � �ure such a default and rein�tate, as provided in paragrap5 13, by causing the action or�roceedin to be di;missed w'
<br /> ' that, in Lender's roed faith determination, predudes forfeiture oE the Borrower's interest in ge Property or other m e'r al
<br /> ` irnpair:i��nt of the lien created by this Securit Instrument or :Pnder's security interest. Borrower sha!I also be in defau(t if1
<br /> Burrt�a�cr, d;.�ring the loan applieatior. process, gavc mater.;;;iy false or inaccurate info�mation or statemenis to Lender(or faifed
<br /> to provide Lender with �my matenai �nforrnarion) i� connection with ihe laan evidenced by [he Nete, indudin„ but not limitcd
<br /> . !o, reprecertat�o�ts;cor,c�rnin�Borrower;occupancy of the Pro�erty as a prir.cipal residence. If this Security Inswment is�n a
<br /> �;' IeatcFol<;. Borro«�er shall comalv with a11 the provisions of the lease. (f Borro��er acquires iee title to the Prop,.rcy, the
<br /> leasehold and the fee ti,�e shall not merge unlesc Lender aLrees to the merger in w�ritin£.
<br /> � 7• Pro!cctinn of�,es:der's Ri�Fts in the Pr�perty. ii I3orrower fai(s to perforni the covenants and agreements contained in
<br /> � ;�is Sccurity L�s;rurnent, or there is a lcgal prcxeeciing that rr:ay sienificantly affec'. Lender's ri�hts in the Property (such as a
<br /> Y
<br /> �e' ,�r�c�edin, in f�ankruprcy�, probate, for conde;nnatioz er forfeitnre er to enforce laws or regulations), then Lender may do and
<br /> pay for whatever is nece;sarv to praSect the val�e of the Property and Lender's rights in the Properiy. �ender's ac!�ons may
<br /> ��
<br /> , include �ayin� any sums s�cured by a lien wnich has priority �zver this Security Instrument, appearing in rnurt, paying
<br /> Y reasonable attoroeys' fees and ei�tering on the Property to ma;ce repairs. F,(though :xnder may take action under this paragraph
<br /> ;
<br /> ' 7. Lcnder does not have to dn so.
<br /> �� -'±ny amoants disb!irsed F. Leoder unde* this paragraph 7 shali be�ome a3ditional debt ot Borrower secured by ti�is
<br /> Sccurity Instrt�mr�t. �?nlr�ss Bc�;ro«-er �r.d Lcitcler a�ree to otner terns of payment, these amounts iI18II �C3� interest from tne
<br /> � da.te of dishurscment at r;:e Note rate and shall be payable, with ir,teres?, upott notice f'rom Lender to �3nr:oti��er req�estin�
<br /> , Pa}�mcet.
<br /> R. 3inrt�.��,e InsuYBqCC :f Lencer reyuired mortgage insurance as a condition of ma�in� the l��an secured by this Sccuritv
<br /> � Instrument, E3�rr.�wer �ha!i pa�� tiie premiums required to maintain [he morteage insurance in eft
<br /> r7c�n�a�*r i;;�urance cnvcra.zz r;�cluired by Lender lapses or ceases to he i� efiert, 3orrower shall pay the pre(mium rey ire�'Ito
<br /> � obt:i;n cover;��e substantia!iy equivalent ro the mort,a�e insi�raace previously in effect, at a cost substantially . uivalent to tli
<br /> �� c�st to Borrotiver nf t�ie mert2aCe insurance pre��iously ir efrect, from an alterrate meriga�e insurer aFP��`'d h)' Lender. [f
<br /> subs!�ntiallv c�iuiv�;lent nv�rt2�ige in�urance co��erage is nni available, Borrow�er shall Pay to Lender each month a sum equal ;o
<br /> � one-twelfth of the }eariy murtga�e inturance premium being paid by Borru��•er when the ins�rance coven�e lapsed or ceased tc�
<br /> i h: in effcct. Lendcr wiil accept, use.ind retain these payments as a►oss reser;e in lieu of mortga�e insurance. Loss reserve
<br /> �'orm 302B 9J90
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