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<br /> S. H�rd or Property Ins�sance• Borrower shall k�+tp the imProvements no�v eaisting or hereafter e�ected on th� �::;s;
<br />. Property insured ag�inst loss by fire. hazands inciuded within the term 'eatended e�verage" and any other hazards, iruludin3 �.�_.__f_
<br /> floods or tlooding.far which I.ender requir�insurance• This�nsuranoe shal� be maintained in the amountc and for the p.riods ;�,,.,;;,
<br /> that LendFr requires."fi�e insurance carrier providing the insurance sha11 be chosen by Borrower subjert to Lender's approval ;
<br /> wt�ich shall not b�unreasonably withlield. If Borrower fails tu maintain coverage described a�ove, Lender may, at Lender's .�,f,
<br /> oprion,obtain w�eru��to protect Lender's rights in the Praperty in accordance�vith paragraph 7. :==1"-;�
<br />. p,p;nsu►ance palicies and renewals shall be acceptable to Ler.der and shail include a standard mortgage clause. L.eitder ;��„
<br /> shall have the right to hold the policies and rene�vals.If Lender tequires.Horrower shall promptly give to Leuder all eecei�ts of — y -
<br /> �J paid premiums and rest�wal natices. In the event of loss,Borrower shall give prampt notice to the insurance carrier and I.ender. �
<br /> Lender may make proof of loss if not made promptly by Borrower. �`-y `
<br /> 1 3 n l e s s I x n d e r a n d B o f�r o w e r o t h e r�v i s e a g r e e i n w r i t in g, insurance proceeds shall be applied to restoration oc reatair of the �_.��::
<br /> Properry damaged.if th.restoration or repair is economisally feasibte and Lender's security is not lessened.If the restoratio�n or �:��y;;
<br /> � repair is not ecanflmi�llY feasible or L.ender's security would be tessened, the insurance proceeds shall be applied to the sums �^W�mc�
<br /> securzd by this Se�srity instrument, wheiher or not t6en due. with any excess paid to Borrower. If Borrower abandons the �.
<br /> property,or does not answer within 30 days a notice from I.ender[hat the insurance carrier has offered to settle a elaim.thpn �};
<br /> Lender may oolle� the insuraztce praceeds. lxnder may use t!?e pmceeds to repair or restore the Property or ta pay sures ��;:c
<br /> , secured by tlus Secsarity Inswenemt,vrhether or nat then due.The 30�ay petiiod will begin when the nerice is given.
<br /> Unless Le�iF.s and Bo�rower othernrise agree ia �rriwtg• anY aPPlicatian of praceeds to principal shall aot extead or ` _ '�`.
<br /> ,,:
<br /> � postpone the du�dete of the monthly �ayr.zents referr�to in paiagraphs 1 and 2 or change ti�e amount of the pay�ents. If - �
<br /> uuder paragraph 21 the Pioperty is acq�.rad by Lender.Borrower's right to an�insurance palicies and pmcee�s r�sulting fium �
<br /> damage to t�e Praperty prior to the acquisition shaU pass to i.ender to the exteat of ahe sums s�u�"ed b�ihis Security h�s� ��;
<br /> �', immediafely priar to the acquisiuon. r'�+s
<br /> 6.OoceipAnt9',Prc�vution.Maintenamre a�d�'rotestiion of We Propertyr i�i�arower's Loan Ap��'cat�oes;Leasetcc�� t.,yiyi�}:';
<br /> t k ��r
<br /> - Borrower s h a l l oncupy.e s t a b li s h.�:d use t l ie P ro p e r ty a s B o m n w e r's p r i n c i p a l re s i,:�c e w i t l u n s i x t y d a y s u ft e r t h e e x e c u t io�cf ��.�`�+..
<br /> t h is Securi ty Instrument a�id shatl conr�e co occupy the Property as Borcawer s prineipal resideuee for at least one year a.'�'ter �.�;
<br /> . the date of occupa�cy.unless 1..ender ctfr�rwise agr�s in writing,vrEiich oonseat shall not be unreasonnb[y wittilield,o�v:��s ��y�,'
<br /> extenuating ciraamstances exist which are t�eyond �orrower's ww-�ol. Borrower si�all not deshny, da�aee or impaiz tht K;`
<br /> . Prnperty. allotiv the Property to deteriorate. or oammit waste oa tG:.Property. Borrower shall be in defau�'�nf any fosfeitwre _:
<br /> • actian or proceeding,whether civil or criminal,is begtc that in I.�rder's goad faith judgment ooutd resui:d�m L�arfeiUUe af ttt� s:,
<br /> propersy or oth�wise matcrially impair the lien created by this Sec�_rity Instrument ar Lender's secutity interest..Bflrrmves maY ••-;.-
<br /> "' ciue such a defaWt and ceinstate.as prnvided in pa�agr�.�.b 18. by causing the action or proceecting to be disa�:ssed with a cuting >�
<br /> �•,
<br /> that, in Lendei s good fai4h determination, precl��.+.sfeidt�of the�orrower's interest in the Ptopc� �r other material ;
<br /> impaimieni of th� lien created by this Sacurity Instrs�mt or Lender's secairiry interest.Borrower shall�be in default if �,;,.
<br /> Borrower, duri�th�loan application Frocess.gave materially false or inaccurate�nformatian or stateaucnts to Lender(or failed +t'�;��
<br /> co ptovide LQ�s3er with any material information)in connection with the loan evidenced by the No�te,irtcludin�,but aot limitrd �r`
<br /> to,represenratians wnceming Borrower's occ�pancy of the Property as a principal residence.If this Security insmunent is r���:a: r��;
<br /> l�old. Boirower shall comply wi[h ali the provisions of the lease. If Borrou•er acquir�. fee tiHe to thc Prcrpert;1,.+�4 ,��`�
<br /> � leasehold and dr:fez dtle sha11 Rot mer�e unless L�nder agrees to the merger in wridng. • ,#`�:�.
<br /> 7.Psoto�toa ot Leader's Rights in QhE Properiy.If Borrower fails to perform the covenants and agra�zs�cantaiaea in
<br /> .� this Security Instcument,ur there is a tegal proceeding that may significantty nffiect Lender's righss in t�e i°irr�:r.ciy(s�;�s a ��:,:
<br /> ' proceeding in��ilauptcy.pmbate.for oarndemnation or forfeiture or to enforce laws or regtilatio��,t(ven�Y�-'��us�rUa•.�d �ti`.`?•�.
<br /> and Lendei s ri ts in the Pro rt [�rnit�s�.etcea�•ccaY ` J•.:
<br /> . pay far whatever is necessary to protect the valae of the Property 8h PQ y �'
<br /> include payin3 any sums se�vred by a lien which I�as prioriry over this 5ecurity Izu�uument, appeari�;; i:�caurt. paying
<br /> ' r�onable attomtys fee.v and entering on the Property w make repairs.Although i.ender may take action ur.der tbis paiagenph _-•'•``'
<br /> �P'�'
<br /> 7.Lender does not have to do so. : °°:;;`-=�:
<br /> . , �. Any anx>unts disbarse� by Lender under this paragraph 7 shall become additional debt of Barrower secured by this ;'��: ,
<br /> � Securiry Instrument. Qaless Borrower and Lender agroe to other rr�rns of payment,these amourbts shal!bear inter�st from the "',�,,.,z.",
<br /> date of disburaement at the Nate rate and shnU be payable. wittc �nterest. upon norice ftom Lender to Barro�rres requesting ! ' =
<br /> ��..�,
<br /> �� payment. �
<br /> �. 8.Mortgage Insnranoe.If lxnder required ucrtgabe insuraara�as a condition of making the toan secur�d by this Security
<br /> = { Instrumerat.Bo:rower shall pay tha �:�iumq required to maintain the mortgage insuiance in effect. If, for any mason. th�
<br /> �:" �; mortgage insurance ooverage required�Lender l�pse.c or cea�es to be in effect.Borrower shall pay the premiums required to .
<br /> . obtain coversige substanrially equivalent w the morty�ge insurance previousty in effecx, at a wst substantlally equivalent to the , -
<br /> cost to Borro�ter of the mortgsige insnrance previoasly in effect, from an altemate�rtortgage insurer npprove�by Lender. If -
<br /> 8 •
<br /> substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each rnonth a sum e�:al to
<br /> • on�twelfih of the yearty mortgage insurance pramium being paid by Borrower when the insurance wYCrage lapaed ar o�.�to k �
<br /> . . be in effect.Leader will aocept.use and r��tain these paymenu as a loss reserve in lieu of mortgagc insuranca. Loss reserve _
<br /> � Farm 3028 9/30 .'
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