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<br /> ..'�� 5. Bazaxd or F�za�riy �u�ct�. �orrower shall keep the improvements now oxisting or hereafter enxted on tti� �,;��
<br /> �
<br /> �. Fragerty ins�e� sgai�st lcss 6y£ar�, h.�zsr{:a inctuded withir►the ter�n"e�teaded coverage" and any other hazerds. inclading ��,:
<br />';, '� floads or floadin:�.for v�h�ch La'�der c2[{uirtts in�urance.Th�.s uuurance sha116e maintained ite the amaunu and for the periods �,.
<br /> ` that l.ender requises.The issur�nce carr�sr providing[he insurance sha11 be ci�osen by Borrower sabject to Lender's a�pruval _,
<br />� which shall not be unr,asossahly ��its»Yd.�f�oTn°wer fails to maintain coverage d�crib:.d above. Lender may. at Lender's ��;"
<br /> ,`:..( option.obtain cover�ge to pr�atect L�der's rigbts in the Properey in accordance with�arag�aph 7. �.._�
<br /> A!I insu;ance palisies and r,ta�wals shall be ac�eP�ble to Lender and shall inc[ude a seandard mongage clause. Lecder �F_v
<br /> s6a11 have the ri g h t to haEd ti:e&a€i�^ies and r�new�.��d��9��.$O�OWpr shall promptly give to Lender a!I rexeipu Qf �:�r.
<br /> p�d pre���d��Qr��1:na�es.Ia ths event of loss,Borrower sha11 give prompt ao6ce to t he insurance c a r r i er and Lead�r. �LL:{;
<br /> .— Lender map maL•e pro�'af�ess�£�t made prompdy by Horrower. �S shall be ued to restoiatioa or repair of ti►e �--__-.
<br /> Untess I�r►der artd�.:sc+nrct ethscwise II� in writing. insutance P aPA -
<br /> `c� ..�
<br /> p�p��,�mnged,i�tLc re�tr.aat5l�,nr•r.�air is econa4nicalty feasible and Lender's security is not lessened.If the restoration vr
<br /> repair is nat e�arsnmicalL3:etss'b[a°r��'=r�r s sec+uiry woul�be tessened,the iasuranse praceeds skall be applied to the sums �
<br /> secured by�hia 'J+�curiri Yns�rmnnt,, w�r or not then due,with any excess paid to Borro�ver. If Borrower a6andnns th:
<br /> Property,or dnes eut�.n.se+rr•evidtia 30 d:tws a aorice froin i ender that the insnrance c�ier has offered to settle a claim,dien ___. ___
<br /> • I.ender may col3,:ct D�e i.,-aurance psocee�s. Le�er may use the praoeeds to repair or restore the Property or to pay su�s rt. .__
<br /> : secured'irj thi���:'�t.ifls�'•�,n�cer or uot tL�a due.The 30�ay period cviU begin wh:n the aotiee is given.
<br /> � Unlars t,�edet an��ower a:���ise �� "'r'��Y aP���on of prooeeds to principal shall aot extend or ��,.
<br /> postpona iitd duts��atc nf�:*�oAtblY P33'ments referre�co in paragraphs i aud 2 or change ths aznount of th:payments. If —
<br /> �-��,':�
<br /> . under para$cagh;�t•tEe�n�is acquited by Lendr.r.Bomower's right to any insurance policies aBr3 proseeds tesniting frum
<br /> � damage to tho Pn.�persY gr�x".o tiYe acquisition stiaU g�ss w Lender to the extent of the sums secured by this Securiry Instrnment �--._
<br />`. , immnediatety prios ta t�e�sidon. - -
<br />._..�'� Borrower's Loan AppfIcatton,Leasehold�. �
<br /> :� �„p�p�r�c,y,pres�vation,Maintenance and Protectiun oY t�e ProP�Y• �~
<br />::��'.,, Borro�ver shall occupy.e.stabiish,and use�e PropertY as Borrower's principal residence withia sixty days after the e�cecurion of � �_
<br />:;;;9z. this Security Insuvmsat and shal!wnwmz.to occupY the ProPenY as Borrower's princlpal��nce for at least aue year after •°�.
<br /> .� f the date of accuPaacY.unless Lender othern-ise ap�.s in writiflg. which conscnt shall aot be unreasonably withheld.or unless ��.. _.
<br /> �::::;
<br /> eu,ennating circumstanees e�ist which ate L�eqa.;� �rrower's consrnl. Borro� shall not�d bestro�.de�gif�any forfe ture . • _--
<br /> .. ProPei'tY. al2ow the Property to deteria�, ar co�-:t waste on the Property !;�
<br /> actian or�.,-a;�eeding,whether civil or criminal,is bz.gu�that ia l�s'.�er's good faith judgment wuld resnit in farfeitnre of the �
<br /> " ' Praperty ar otherwise materiallY imPair th�lien creai�d by th;3 5a��roty Instrument or Lende�s se�urity interzst.Borrower may �-
<br /> • cure sach a defauh and reinstate,as provided in pam�h 18,by causing the��or proceeding to be dismissed with a ruliug
<br /> tha� in i.ender.'s good faith determina�on, prectadr�s.°orfeimre of the Horror.-�'s interest in the Propert}►or other material �—_,�
<br /> impaiamcnt of the lien created by this�rity Inshvment or Lender's securitY imerest. Barrower shall also be in defauit if =.: --
<br /> ;;��.,;� Boirower.du�ing the loan applicadvn�M,ss,gave materially false or inaccurate informatian or statecnenu to Lender(or faited
<br /> . - to provide I.ender arith any matenal i�.`?�ma�on)in�°n°ection arit�the toan evid.,ac�d by�ha a'+Ta4.�,inctuding,but not tiauGed _^----
<br /> . to.representations soaceming Borrowee's occu�ancy of the Property as a pr[ncip:�rPSideeice.If this Secarity Insmiment is oa a
<br /> � teasehold. Borrower shal� compSy w�th all the prov,i�;�ons of the tease. If Borcawer acquires fee dtle to the Property. the .
<br /> ' teasehotd ar.�t�e fee dtte shatl uot mer�e untess Lendr�a�ees to the merger in writing. �
<br /> � 7.Peotect�on of Lender's Rights in the Propert9.If Borro�nrer fails to perfor�the covenants and agreemeuts ooataiued'm _.___
<br /> ' ' � � tlus Securiry insuumeat,or Were is a tegal prnceediag that may si�nificanily affect Lender's rights in the Prapert3+ (such.as a
<br /> groceeding in.bat�uptcy,pmbate.for oo:.aietnnati4�ar forfeiture or to enforce laws or regulations),then i�ender m2�y do and �•:�
<br /> . ., � paY fvr whatever is aecessary to protect tRe vaiue��the Property and I.endru's rights in the Property. Lendcs's actions�ay
<br /> intiude paying any sums secured by 2 iien whici� has priority over Wis 52..'wity Insuu�s�e�+ aPP�ng 'n�rt. payiug �
<br /> � .�ough Lender m3 take 2ction under this parapraph
<br /> •� • ceasonable attomeys'fees and enterin�e��the Property co make re�a�.�. Y •
<br /> .. �� 7.Leader does not ftave to do so.
<br /> �� � Any amounis d'ssbwsed by l,end�r undeY 4i��ara8raD6 7 st�all become addition��,-bt of Bormwer sec�ued 6y this �
<br /> . .� - � Sec�rity Instrument.Untess Borcowes and�.ender���:to other terms of pay�ns,these�ouau shall bear incerest from the
<br /> � � dr.te of disbursement ai the Note rate and shull be payahle,wics interest, e�m aati�fr�,a Lender to Boaower roq�sest�nS
<br /> .� �Yment. � -
<br /> S,Mortgage Insurance.If i.ender reauired arortgage insure:sae ag a coadition of maldng the loan secured by this Sec�uity �:'�,
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<br /> � Instrument,Borrower skt�ll pay the preminms re9uire�tv maintain the mort�age insurance in effect: If, fo�auy reason. tha
<br /> ' mortgage.insurance cor,;��j;e requirerl by Lender lapses or cea�es to be in effaa�.�orrower shall pay the premiums reguired w �-
<br /> obtain coverage substan�ialily equivalent to the mongage insurance previously �.�effect,at a oost substsu►tialiy equivatent to the
<br /> ' cost to Botrower of the mortgage insurance previously in effect. from an altemate mortgage insurer approved by Le�r. If
<br /> �� substuntialty equivalent mangage in:a;ca,::�e eoverage Is nct avaiiabte.Borrow�r sha11 pay to Lender rach month a sum equal to __
<br /> � one�tweIfth of the yearly mortgage ir,�:r.�&:e�ir�r.;�ein8�aid by Borsower when the insw�anae coverage lapsed or ceased to �
<br /> • be in effect.Lender wi�l accept.use and reta�n a����y�n�YS� a loss resetve►n lieu of mortgage insuranoe. Loss reserve
<br /> Forro 3028 9/80 '
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