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<br /> � ` . '., 5. Ba7ard or pivgerty Insm'auce. Bosrawer shali keep the irnprovements now existing or hereaftes er+ected on the Q . "
<br /> .+ � ' ` . Property insured agains�t loss by fice.hazards incIadc�f withia the term "eattende�wveiage"and any other hazards, inclading ••:.,, ;�;� ..y
<br /> •�:� ; ` ` floods or tlooding.for which Lender reqaires insuranoe.Th'ss insuiance shall be maintained in the amounts and for the periads - .. .
<br /> . . • that Lender requires. The insuramce cazrier providing the insurance sha11 be chosea by Borro�ver sub}ect to Lender's approval •,., ��° . ::�,�':.
<br /> � , ' �� ` ^"`' which shall nut be unreasonably arithheld. If Bomower fails to maintain coverage descn�ed above. I.ender may, at I.ender's� .= ` .'°� =
<br /> �' ;ii`•�. �,..,rr.� � .
<br /> �� � option,obtain cove�e to protect Lendcr s rights in the Property in accordance with paragraph 7• � ,. � _
<br /> ` ' _. All insutance policies and renewals shaU be acceptable to i.ender and shall inciude a standard mortgagQ ctause. I.ender 's __
<br /> • � s h a l l h a v e t h e ri t t o h o l d t h e p o l i c i e s a n d r e a e w a l s.if Lender re q u i res.Borrower shall pmmptly give to Lender aIl receipts o� .:• ,:.' �
<br /> �� `` � • � paid premiums and renewa!notices.�n the event of loss,Borrower shall give prompt nodce to the insurance cazrier and Lender.� -
<br /> �'��,'r ``c, Leuder may make proof of loss if not made pmmpdy by Borrower. � " `: -�_
<br /> .� . �, . ' Untess Leuder and Borrower otherwise agree in writing,insurance proceeds shall be applied to mstoration or repair of the� �� ^.
<br /> �� �' prope.rty dacnaged,if the restoration or repair is econoinically feasible and T.ender's security is not lessened.If the restoration or� `�`� �.-��
<br />� " , � :�=r repair is not economicxlly feasible or Lender's security woutd be lessened,the insurance proceeds sba116e applied to the sums ;;r
<br />-. . .,� . ��:.�F�," , secured by this Secarity Instn�ment, whether or not then d�e.with any excess paid w Borrower. If Borrower a6andons the = �.��--
<br /> •.�:�:•_�=
<br /> Property,or daes not answer within 30 days a notice from Lender that the insurance carrier has offere�i to settle a ctaim,thert . ___°. -
<br /> � .,�,"'`: ' Lender may coUect the insurance proceetis. Lender may use the p�ce�s to repair or restore the Property or to pay sums �
<br /> .`a:. �:-=-
<br /> ��, ` � secured by this Security Instrument,whether or not then dae.The 30�ay periad will begin wtren thc notice is given. , .
<br /> ' '' ' Unless L.ender and Borrower ot6era+ise agtee in wriang, any application of proceeds to principal sha11 noi eatend or -
<br /> post�one tfie due date of the montIily paymenu r�ferred to in patagraphs 1 and 2 or change the amount of the pa.yments. If :: v�:`
<br /> r ' �, ,,,y under paragr�aph 21 the Property is acquired by L,snder,Borrower's right to am insuiance policies and proceeds resuldng from �: __
<br /> `� ;�� damage to tI3e Property prior to the acquisition shall pass to Lxnder to the extent of the soms serured by this Se�curiry Instrament _
<br /> , ''.�,..
<br /> --==�.;,'�?`"•�%. immediately prior to the acquisiuon. .� � �-
<br /> . .. . 6.Oocapancy.PreservatTon,Maintenance and Proteation of We Property;BOtfOWft�S I.08A Ap��C8�0I1�I.eSSCIlO�dS. ;•� •s v-
<br /> . - "'�:"-.' Borrower shall ocenpy,establish.and use the Property as Borrower's principal residence arithin sixty days after the execution of ., �*---.
<br /> _ _ 'r�.:Y,�•; ���_-
<br /> � , � this Security Instrument and shall continue to accupy the Property as Borrower's principal residence for at least one year after � .,�___��.-_
<br /> - » • • - - the date af occupancy.unless Lender otherwise agrees in writing. which consent shal!not be unreasonably withheld,or unless - _.��.
<br /> s� � ,. � .� extenuating circumstances exist which are beyond Borrower's control. Botrower shall not destroy. damage or impair the y'; ' _
<br /> - • " property, allaw the Property to deteriorate, or commit waste on the Property. Bo�ower shall be in default if any for�eiture . �
<br />:�'.'- � � . aciion or proceeding.whether civil or criminal. is begun that in Lender's good faith judgment could resolt in forfeiture of the -- _—
<br /> . . Property or otherwise matFrially impair the lien c�eated 6y this Security Insirument or i.ender's security interest.Borrower may ---
<br /> � . • cure such a default And reinstate.as provided in paragraph 18.by causing the action or praceeding to 6e dismissed with a rnling �
<br />- ' '•�.; �� � that. in Lender s gaad fahh determination. precludes farfeiture of the Borrower's interest in the Property or other materia! i •�'� . �R�
<br /> ' � ' ' impairment of the lien created by this Security Inswment or Lender's security interest. Borrower shall also be in default if >.�.:;-• ; :=�°
<br /> • • - � Boccawer,during ehe loan application pcacess.gave materially false or it�accurate informaaan or statements to Lender(or:faited. �. _
<br /> ' . to provide Lender with any material informauon)in connection with the loan evidenced by the Note,inctuding,but not limited .:.;�:,:. _��
<br /> � ,, �� to,representations concerning Borrower's occupancy of tfie Property as a principal residence.If this Security Insmiment is on a � �- -"�-�
<br /> �� leasehold. Borrower shaU comply with all the provisions of the tease. If Borrower acquires fee titte to the Praperty, the -`= "����-
<br /> - �. . ' �. � .i� ' leasehold and the fee tide shall nut merge unless Lender agrees to the merger in writing. 9="�
<br /> �� :• � ' 9.Protection oY I.ender's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in � -_
<br /> � this Security Iristrument. or there is a legal proce�ding that may significantty affect Lender's rights in the Property (such as n ',
<br /> • proceeding in bankruptcy,probate. for condemnation or forfeiture or to enforce laws or regularians);then Lender may do and ==��-�
<br /> . . ' �:�a`�.,' pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may r��: -,�;:'
<br />_ � • � • over this Securi Insuument, a earin in court, paying �1��"''
<br /> - . � include paying any sums secured by a tien whuh has pnonty ty PP g -
<br /> - reasonable attorneys'fees and entering on the Property to matce repairs.Although Lender may take action under this paragraph ;��`���••�'��-
<br /> _�` � .� 7.Lender does not have to do so. _
<br /> ,-"��,,.,h
<br />: •,.: .� .. .
<br />"'� � � Any amounts disbursed by L,ender under this paragraph 7 shall become addidonal debt of Borrower secured by this .-
<br /> �T'. . . . — ._.
<br /> '� � : Secarity Instrument. Unless Bonower and Lender agree to other terms of payment, these amounts shall bear interest from the -----
<br /> � . ' , date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requestin� .. --�•�
<br /> • . • _:� paYment. •
<br /> 8.Mortgnge Insurance.If I.ender required mortga�e insurance as a condition of making the loan secured by this Security � .. � .
<br /> ' ���� .. �' Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If. for any reason. the , •
<br /> ;�; . ' mortgage insuranr.e coverage required by Lender lapses or ceases to be in effect.Borrower shall pay the premiums required to
<br /> ' , obtain coverage substantially equivalent ta the mortgage insurance previously in effect. at a cost substantially equivalent to the .
<br /> � . � cost to Borrower of the mortgage lnsurance previously in effect. from an alternate mongage insuser approved by Lender. If �
<br /> . � substantially equivalent mortgage insurance coverage is not available.Bonower shall pay to Lender each month a sum ec�aal to . : '�` �..
<br /> - � � one-twelfth vf the yearly mortgage insurance premium being paid by Barrower when the insurance coverage lapsed or ceased to : .
<br /> - : � .` be in effect. l.ender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss resenre
<br /> • Farm 3028 9/90 : • � _
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