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<br /> �' �� �.'`�G.," S. Haard or ProgeRy Iasarance. Borrower shall keep the improvemcnts now e�cisting or hereafter encted on the '_:7:''5:.:;.�'��'.:-`;
<br /> �« ,�.�: �• ; .s pmPerty insured against loss by fue.hazazds included within the term"exterided rnveiage" and anx other hatards. inciudiag .�.��`;
<br /> �: � , floods or flcoding.for which Lender requires imvraace-This insurance shall be maintained in the amounts and for the per'sads ,... . _ .�
<br /> ` `- ., that Leader requir�.s.The insorance carrier providing the instuance shall be chosen by Borrower subject to Lender's approval � ,
<br /> � which shall not be unreasonably withhetd.If Bor�wer fails to maimtaia coverage descnbed above. Lender may.at Lender's� ��'-� �`.
<br /> ,' .�.fr;`, option.abtain coverage to protect I.ender's righu in the Property in accordance with paraSraPh 7. � ���`,;,<. -�. :. ��'�:yt'
<br /> , . �"� A!!insurance policies and'renewals shall he acceptabte to L.ender and shall include a standazd mortgage clause. Lender� ` . .", : :. ,
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<br /> . - - - - shai!have the right to hold the policies xnd renewals.If Lsnder cequires.Borrower shall proinptly give to Lender all receipts af •• `"j� - --
<br /> � paid premiums and renewal notices.In the event of loss.Borrower shall give prompt notice w tbe iasuranoe carrier and Lender. . ;���.:' '.�
<br /> � L�nder may make proof of loss if not made promptly by Boaower. .� s `:;�..:'`
<br /> :- `. �:�,~ Unless Lender and Borrower otherwise agree in wridng.insurance procezds shall be applied to restoration or repair of the .�e.:� ; ``r=.
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<br /> - property damaged,if the�+estoration or repair is ernnomically feasible and Lender's seauity is not lessened.If the restaration or� r '1__
<br /> repair is not economicalIy feasible or Lender's security woutd be lessened, the insurance proceeds shall be applied w the sums <<' .
<br /> � ,'t ' s�by this Secarity Inssuumen�whether or not then due, with any excess paid to Borrower. If Borrower abandons the �`'�� °-�°�-
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<br /> Property,or daes not ansarer within 30 days a notice from i.ender that the insurance carrier has affered to settle a claim,then �<<<•��, ��.•-
<br /> '� ,?_ Lender may collect the����nce pnooeEds. L.ender may use the pnooeeds to repair or restore the Praperty or to pay sums = " ;'.;;:�=-
<br /> .:::i;;J.;;?LL secured by tl�is Security Instrument.arhether or not then due.The 30-day period aill begin when the notice is given. �`• ' . •- -
<br /> � - Unless Lendes and Boaower otheiwise agree in wridng, any application of pmceeds to principal shatl not extend or
<br /> � � � posipone the duc date of the raonthly payments refemed to in paragraphs 1 and 2 or change the amount of the payments. If °t �� `:
<br />- �':;.;:���:`�•, uader paTagra{�h 21 tbe Property is acquired by L.ender, Borrower's right to any insurance policies and proceecis resutting from � -�-'�-:°•,,
<br /> � - damage to the Property prior to the acqaisition shall pass to Lender to die extent of ttie su�secared by this Security Instr�ment °`.:�.` ,
<br /> � �`� �"' immediately prior w the acquisition. °�� �.
<br /> -------� 6.OccaPaacY. P�servation,Maiutenan.cQ aad Protection of tbe ProPert3,Borrower's Loan Applicatiom,I.easeholds. J�.�...�:; ;"'�'°'
<br /> Borrower shall ocaspy.estabiish>and use the Pnoperty as Borrower's principal residence within sixty days after the execution of � T: ��.--
<br /> � � this Seauity Insuument and shall continue to occupy the Praperty as Borrower's principal residence for at least one year after ;•� :�:k.�;=..e�
<br /> � - . . - � �`„;; r..�:���..�
<br /> the date of occupancy,�tnless Lender otheiwise agrecs in wriring,which consent shall not be unreasonably withheld,or unless , ., +;,,_.�_--_
<br /> • '�• extenuating cir�cumstances euist wtrich are beyond Borrower's contral. Sorrower shaU nnt destroy> damage or impair the . _;: � — _
<br /> . �'.•�. .-:_�-
<br /> . ' . ���'., Property, allow the Property to deteriorate, or commit waste on the Property. Eorrower shall be in defauIt if any forftiture ._s,
<br /> � •. ; .;., atxion or ptoceeding,whether civil or criminal,is is2gun that in Lender's gooc!faith judgment could resutt in forfeiWre of the . -_-_
<br /> �`�.' ��:<<�•� •` Property or otlierwise materiully impair the lien created by tlris Security Insaument or I.ender's aecvrity interest.Borrower may "-:--=;`- '�'-- -_
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<br /> cure such a default and reinstate,as providal in paragraph 18,by causing the ac,tion or proaeeding to be dismissed with a rnling ��_.: _---
<br /> ' � � . . that, in Lender's good faith determination. preclades forfeiture of the Borrower's interesc in the Property or other material - - �_ _
<br /> � impaimient of the lien created by this Security Instrumeait or Lender's security iaterest. Borrawer shall also be in default if ��: .�_
<br /> __ Borrower.during the loan application pr�cess,gave materially false or inaccurate information or statements to L en der(or f a i l e d h•_ __
<br /> - to provide Lender with any material information)in canneqion with the loaa evidenced by,the Note.including,but irot limited ;':�.�. :..�,��_
<br /> � ,� to,represeutations conceming Boaower's accupancy of the Property as a princ�pal residence.If t6is Security Instrument is on a .__:�_--
<br /> � � �. leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Properry, the ,'•<°.°"".:� ���-=
<br /> `' � feasehold and the fee tide sha�l not merge unless Lender agrees to the merger in writing. � � `F'��—
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<br /> � ' 7.ProtectIon of I.ender's Rights in the Properfy.If Boaower faits to perform the covenants and agreements contained in �:�*r �-_-
<br /> ' � ' • this Security Insdument, or there is a legal procceding that may significandy affect Lender's righu in the Property (sach as a :���' . "=_-�
<br /> . . . . • proceeding in banlcraptcy.prnbate,for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and �''"'� j _ __
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<br /> . � ' • pay for whatever is necessary to protect the value of the Praperty and Lender's rights in the Property. Lxnder's aaions may `��;?�._•�^_�_,
<br /> � " inclade paying any sums secured by a lien which has priority over this Security Instturaent. appearing in wurt. paying � �;'. , _
<br /> `• � � � � ' reasonable attomeys fees and entering on the Pcoperry to make repairs.Although Lender may take action under this paragraph - =-���-��_
<br /> ' � . 7.Lender does not have to do so.
<br /> . . �a�,:
<br /> ° . " Any amounts disbursed by �.ender under this paragraph 7 shall become additional �ebt of Bonower secured by this q-�r �_ _
<br /> Security Instrument.Untess Borrower and Lender agree to other terms of payment, these amounts shaq bear interess from the •:':.�'�` _.: . --
<br />.j.,'�`� �� ' , ' � date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requesting . . • •
<br /> � payment. . ,: .
<br /> � • ' . 8.Mortgage Insurance.If Lender required mortgage insurance as a eondition of making the laan secuted by this Security •
<br /> , � Instrument,.Borrower'shall pay the premiums reyuired to maintain the niortgage insurance in effect. if, for any reason. the ' �:� �� .. ,.
<br /> , � : . . ��� mortgage insutance coverage required by Lender lapses or ceases to be in effed,Borrower shall pay the premiums required to . . :
<br /> o6tain wverage substantially t:quivalent to the mortgage insurance previously in effect.at a cost substantially equivalent to the
<br /> . wst to Borrower of the mortgage insurance previously in effect. from an attemate mortgage insurer approved by Lender. ]f • � � .
<br /> ..' ` � � substantially equivalent mortgage insurance covcrage is not available.Borroa�•er s6aU pay to Lender each month a sum equal to . .
<br /> • � •�•�� one-twelfth of the yearly mortgage insurance premium being paid by Borrawer when the insurance coverage lapsed or ceased to ! � � � . -
<br /> ` � be in effect.Lender will accept. use and retain these payments zs a loss reserve in lieu of mortgage insurance. Loss reserve ,i .�.,_•..�
<br /> �. '.. Farm 3828 9l90 ':�:;
<br /> . . ' � , Paga 3 018 .
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