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<br /> . .. S..Hazard or 8eop�ty Iastaaaoe. Bormwes e�aLL kcep�s improvemenis aow existing oz hereafter eiected oa the ' , . .
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<br /> ,� . , -, p t,o p e r t y ins�re�a�inst loss hy fise. L�sds iaslttded aitbin the tetm°exteaded coverage' and aa�y ottset ba7ards. inc1udjn8 •` .�'
<br /> `. -' floods or 800ding.for wtuch leader�equires iasinance.Tbis insueanca ahall be maintained in the amouais ead for the periads ; . ..
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<br /> - � that I�ader requires.'ihe insuraac�cariier prcvEdiag tba insutance ahall be chosea by Borrowet en6ject w Iender's appzaval� ' . - - -
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<br /> - r--`-/--- -_-' wlucL eI�U noi ise oarr�sama6ty clithhetd. If Boaower fa�a to m� +r coverege descn'bed above. I�ender maY.at I.�dct's� - -�- -_—
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<br /> � _ �; option.o6tsin coveisge W paotect Leuder's rI g h t s in tha Pr+n p e rt y in sccordance a+ith paregraph 7. : '
<br /> . . All insueaace palicies and s�neverals sbaII be accep�ble w Le�det and sbaII inclwle a etandard mortgage clause. Latder� ' ' •.�.�.
<br /> ° , •'�`• shaII have the r��t to hold the polides end r�e w a t s.I f L e�des reqnires.B o i r o c ver shall P i'��P�Y�ve tfl Le�der all zeceipta of� , ., . .,. .� .
<br /> -6 ' paid premiums and ian�val natices.In th$ev�t of toss.�o:rower ehatl gi�+e Fmmpt aotice to tha ins�ua�cariiea aad Ir�der• ..•�.�r:... �.
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<br /> -? ' � . . ; Iendet may makc pronf of losM1 if not made promP�Y b3+�aower. , <
<br /> ' � . Unless Iender aad Sorrower othetansa ag�e in writing,ins�an+x pmceeds ebaII be applied to rest�ation or repair of tLe .
<br /> ` prnpeny damaged,if tha reswiation or repair is ecaaomically feas�'ble and Ieauter's secauity is not te.ssened.If the msto:ation ur . .
<br /> -. • � eepatr ia not eoonomically feaa'b2e or I.eades'e secutity wouW be les�ed.die ins�umce Pnoceeda eLall he spplied to tha sumv . _�_
<br /> ' . seco�ed by this Security Io. „�� whetLer or not the� dae,arith aay exce.vs paid to Borrawer. If Boimw�abaadons tbe . _ - .
<br /> ';t.. , , Pioperty,or does nat aaswer wit�in 30 days a notice fmm Leader that the�uance caaier Las offer�d to settle a claim,t�en . —
<br /> . . ieader may cflllect tbe insutaave proceeds.Iend�r may nse ti�e proceeds to repair or sestore the Property o:to pay su�s Y
<br /> � � s�by tbis Scanity Instrt�t,whet�ea or aot the,n due.'lhe 30-day pericd w�l begia wh�tl�ee nottce is give�. ' ' �F--�:.,..
<br /> ` , . ,. � Unl�s I�der aad Bosmwet oti�arisa agree in writin�, anY apPttcation of proceeds to priacipal ahall not o�c0end ar . .._.. ,—
<br /> `_ �, postQone the dua dats of the month2Y P$Ym�=+efenecl to in patag�aphs 1 aad 2 or chsnga the amo�s of the paym2ats.If � �..
<br /> •:.�,• • ���' uad�r paragraph 21 tha ProPes►Y'is�q+�bY Ieader�Bomawer's rig6t to eny iasu�ca golicies and pmaeeds resolt�ag fram -, '. _
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<br /> . : .'�. dama&e to tha PtoPerty+Paos to the acquisitlon�pass o�I�der w the exieai of tha eum9 sec�ued hy this SeQUity�t . :_�
<br /> .' �TY P�or to the acquisition. �"`?�_'�
<br /> '�L ' �' 6.�a m c y.R�s e r v a t ton,��►�in t�nAn e s y�d P l o u l�l i o n o f t h e P Y+o g�t y i B o s ro w e r's L o e n A p p l f c a t l o n�I.F S S e h o�d9. � __--
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<br /> �. :. '� � Borrower sball accnpp.esteblish.and nsa We P�operty es Borcawer's prindpal�deace with�a maty daye aRer the e�ecarion of ' �-,-
<br /> _,,�� , this Seca�rity Insdvmcnt aad ehali contimie w acc.upy the Property as Bonower's principal sesidence for at le�st one yc�r aRer • , . Y--
<br /> ' the date of occupaacy.�less I.�dcr otheraise ag�ees ia writing,wluch consent shall not 1ae uamasonably withheld. or n�ess -'.
<br />` " exte,�uaimg clrcumsmnces exi�t wbich are beyoad Bon+aarer's coat�ol. Bosrower ebaU aot destroy damaga or imPair tLe ;;"�r=��,�F
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<br /> ' • Froperty, altow the Pmpesty w detesioiate,or commit waste on the Praperty. Borrower sl�all be ia default if say forfeitare :%1,`::`„ --
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<br /> ' ' ', action or pmceeding,a+hether civ�or crlminal,is begm tLat in Le�der's gaad feith judg�ent wuId resalt ia forfe1tata of fha . _ . ..:�_-_
<br /> .'' � Property or otheraisa mater3ally impair the liea created by this Seauity Instcument or I�der's se�uriry inserr,st.Bor�ower may . ', :. .•,,s:�'
<br /> - aue euch a dafault aad reinstata.a9 Pso�►tded in pareBraPh 18.bY causin�the action or proceeding to be di�issed�vith a tiiling �. f .. ::'..��.
<br /> " ' �at,in Leader's good faith determinaBon.P�ecludes fosfeitme of the Bon+cwer's interegi ia tha Property or ot�material � .• ..'''.'-�'-
<br />- . ', . impairmeni of die tiea created by this Securiry Instrnment ot Lender's aeauIry inteirst Sosrower ehall also Ua ia def�lt if ,: •. 't_`'_,_:�-
<br /> °:',i • , Bormwer.durmg tha loan appl�cadon proceas,�'e matciiallY fatse or inacc�uata information or emtemente to Lr�der(or fa�ed � •� �,^
<br /> .: . . w gmvide Lender with aay material informattan)in conaeciFoa with tha loaa cvidenced by tha Nota.including.lrot aot limited . '- :=i`�"
<br /> � to.�p�esentatioa9 conceming Bmcower's occapaacy of tha Property as a priacipal resi.de�ce.If�is Securlty Insteument is on a - . `�'�;
<br /> ,'I{� ; . leaeebold, Bo:rower eLall wmply witL all the provielona of the lease. If Bo�ves acs�ui�s fee Htte w tha Aroperty+. the ' : _-
<br /> lease�old aad We fee titla sl�all aot merge ua2ess Leader sgrees to tha merger in writing. �;� -•
<br /> -- ; ' 7.P►n u t e c t F o n o f I.c a d e's R i g h t s i a t h e P t o�r t y.I f B m m w e r f a i l e m perform the cavea�ts and a g e e m e n f s conteiaad ia ,;"f_-
<br />` �. � tLis Securiry Iastrament,os there ls a legal proccediag Wat may eignificaatty affect Leader'e rights in the Prnperty(such as a , . ;, '�-
<br /> . pnoceedia�in b�invptcy,probate,for condamnatioa or forfeihue or W enforce lawa or iegulattons),t�en I�nder may do and ��r�,
<br />- _.. pa3+for whatever is necessaeS+to protect We value of the Praperty and I�nder's righta in the Progerty. I�ender's acttons may . . . . .
<br /> � includa Paylog anY aums se�ured by a llen wL�ch has psiority over Wie Security Instram�t, �n8 in coust. Paying _ • :��----
<br /> ---- - reasonable attosnoys'fcea and entetimg on the Propesly to m�lce repaiis. Althougj�I�nder may talce action under this pafagrapb �:,,:�,�.��. •
<br />''�'� � ?,Le�dar does not I�ve to do eo. • .. •
<br /> ft pay amnunte disbursed by Leader uudea tbis paragapv 7 shaU becoma edditIonal debs of Borrawet secured hy this � .
<br /> ' `�� . Security Instcumen� UWess Bor�ower aad LenBer agree to ot�her terms of gayment.thesa amounta shall bear intetest fmm tho � �
<br /> ' data of diabwsement at the Note rate aad ehall be payable.witb interest, upon notica 4'ia��Lender to Bmrowes requesting . . . . .
<br /> PaYmen� ' '
<br /> ` .. � 8.Mortgage I�urence.If Ieader require�mortgage insurance as a condition of making the loan secured by Wis Security
<br /> •`'t Instrument, Eorrowes ehaU pay tha pn�miams iequimd to maintain tha mo�tgage iasurance in eff�ct. If. for at►y i+eaaon, the .
<br /> - ' , mort�a iasuraace covera8a recNired bY Lender Iapses or ceases w ba in effect,Borrower shaU pay the premiums reqnired to . • _ .
<br /> � obtain covezage substantielly equivalent to the mottg�ga iasurn.�ce prevtously in effect.at a cost substaatielly equivatent to tha .
<br /> . cost to Bonowes of the mortg�ge inaurance previously in effect,fi+om an aItetaate mort�ga insurer appmved by Lmder.If ,
<br /> . � subataahaUy equivalent mortgage icsurance covera�e is not available.Borrower ehaU pay to Lender eacb month a sum aqual to .
<br /> � � oae�tarelRh of tha yearly mmtgage insurance prem9um being paid by Botrawer whea the iasuranco coverage lapsed ar ceased to .
<br /> - , � '. be in effect.Leader will accept,nse aad retaia thesa payments as a los9 reseive in lieu of mortge�e insurancs. Loss reserve - .--- -
<br /> . , � 114- 1615 corm soas 9�s� �
<br /> - . � ��6RtllffJ�s�s�a� LT044 c.o�3ma �:� .
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