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<br /> =�._ �:.�
<br /> � $, Huzard or Pmperty Insurance. Bum�wcr .hall keep dir impro�emenn nou� �xi,ting ur here:ifter erected on the + .-:-- - - ' •
<br /> Pmpert} insureJ a�;aia�t lu,s by fire, hararci, mcluded within the term "extendc�i ruvrragr" :ind :uiy uther hazards. including r� . T
<br />.,� Floi�ds or Flouding. fur w•hich Lcnder reyuire�in+urance. Thi.�ruurance shall be nLimta�nexi in thc amuunts and for the pets�s , . tn.` : _
<br /> ,� t h a t i.cnder r e yuire+.7'tie ituunince i:arrier pru��iding the ia,ursn�e,hell be rhu,en h} Born�xer subjcYt to Len�irr's approval '•" �.; ; u===
<br /> �ahich .hall nut be unre�a,onabl}� withhetJ. If Burro�cer fail�to mainwin ro�•era�e desrribeei �buve. Lxn der may. at L xn der's � ,r:�:` ��,,,.,, :� �_ T
<br /> , :y:�f�.,.�•..,.. . .
<br /> uption,obtain coverage to protect Lender'+right+in the Propeny in ar.rordaace with p:u-agraph 7• � �'"..o-> .' . '�:
<br /> ' ' All in�urance policie�:uid rermwal, ,ha11 be acceptable to Lender and �hall include a star.dard mortgage clause. Lender ,
<br />� _'� . .. .... ��.�
<br /> � shal!hace the righc [u huld the policies and senewal�. If Lender requires.Borrower shall promptly gi�e to Lender all receipts of _ - -rT T
<br /> paid premiums and ti�enewal notices. In[he event of los,.Borrower,hall giti•e prompt notice[o the insurance carrier and Lender. �`Y°/-� � �;i � �.�- -`
<br /> � L e n d e r m a y m a l ce proof of lo�if not made promptly by Borrowec _,_;.�._`.--'...=-�.=:��
<br /> �� Unless i..ender and Borrower othenvise agree in writing.insurar►cc proceeds shall be app li e d co restora tion u r r e p a i r o f t h e � �s
<br /> � property damaged, if the restoration or repair is economically fe�asible and L.ender's securiry is nat lessened.If che restoration or � _
<br /> �_,",.'-';L.�_._�,-.','.��--�-°__ w
<br /> �l repair is not ea:nomirally feasible ar Leader's security would be lessened, the insuranr,�Proceeds shall be appl�ed to the sums , � _ — _
<br />' 'K secured by this Serurity Instrument. whether or not then due, with any excess paid to Borrawer. [f Barro�ver abandons the '.°����,.f„��:.,.�;, . .
<br /> �'s ° -
<br /> Property, or does not answer within 30 days a notice fmm Lender that the insurance carrier has offerad to settle a claim.chen i - �
<br /> �'� Lender may colleci the insurance proceeds• Lender may use the praceeds to repair or restore the Property or to pay s•w.^u ` — ,-
<br /> secured by this Security Insuument,whether or not then due.The 30-day period will begin when the notict is given. ::*.�..,,._. : �-�•• ,,,,�`�.
<br /> ? Unless L.ender and Borrower otfienvise agree in writing, any application of procexds to principal shall not extend or � , _�s��-;s�-___�
<br /> • :��._�.,.�—.._..
<br /> '°� postpone the due date of the monthly payments referred ta in paragraphs 1 and 2 or change the amount of the payments. If �-�-;-:-�-<•��-:„_..; _
<br /> '*�:r.:;Y,,,,�'
<br /> ' ' under paragraph 21 the Properry is acquired by Lender.Borrower's right to any insurance policies and proceeds resulring from ,,,,�,�,� , �,_
<br /> � � damage to the Property prior to the acquisition shall pass to L.ender to tfie extent of the sums secured by this Security Instrument - - -
<br /> ,( immediately priar to the acquisition. ��otds. `. � . . _ �' � ._..
<br /> .•; 6•pccuPaacy,Preservation.:4laintenance and Protectioa of the Property;Borrower's Loan Application; '� : �
<br /> . 1:�.'"-._ _���'..�. V• '
<br /> ° � Horrower shall occupy, establish,and use the Property as Borrower's principal residence within sixry days after the execution of 3�
<br /> r����'.'•'�"�:;�'"-
<br /> this Security Instrument and shsill continue to occupy che Property as Borrower's principal residence for at least one year after : ,. ^ ,
<br /> the date of occupancy. unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless ':���� . _ _
<br />•.,:'� extenuating circumstances exist which are beyond Bonower's control. Borrower shall not destroy. damage or impair the •'�,•'"► �;': 5�.,.
<br /> �3 Property, allow the Property to de[eriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture � ,; '�'�`�=`•=
<br /> t �" �.
<br /> action or pmceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the •. _�,,,..,: z:.,....�. :��:
<br /> ' Property e-otherwise materially impair the lien created by this Securicy Instrument or Leader's security interzst. Hotrower may , ,';"; _
<br />" cure suci�.a�.efault and reinstate,as providad in paragraph 18,by causing the action or proce�li�g to be dismissed with a ruling � r{ : _�__
<br /> a
<br /> ' that, in �....:�;ei s goad faith determis���o:�. precludes forfeiture of the Borrower's intere.t :�s �'r.e Propert3+ or other material .�,�,Y' � i:� .'. ::r,
<br /> impairment of the lien cc��':ed by r�s Sxurity instniment or I.ender's security interest. Bomower shall also be in defauli if ;',� : '
<br /> Borrower,during the loan 3,plicatian p�cess.gave materially false or inaccurate informauon or statements to I.ender(or faile+i , �'�. �
<br /> � to provide Lender with any materia!informauon)in connection with the loan evidenced by the Note.including,but not limited ,..,;._ ,;i#, � _
<br /> � to,represe:ations concerning Borro�1ei s aceupancy of the Property as a principal resi�ence.If this Seeurity instrument is on a :' tif,i ;.' ,-
<br /> ' leasehold, Borrower shall comply with a11 the provisions of the lease. If Borrower acquires fee title to the Property. the ,�� '�° L: .:
<br /> . .Y. �q.+�Mt''.`... ., .
<br /> leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ��_�;
<br /> � � 7.Protettion of Ii2nder's Rishts in the Property.If Eorrower fails to perform the covenants and agreements contained in � r"=-:
<br /> this Security Instrument,or there is a legal procceding that may significantly affect Lender's righu in the Property (such as a � �=-
<br /> robate, foz aondemnation or forf�ture ur to enforce laws ar regulations), then lxnder may do and �:.N. -"" ,�"%�: ,!.'"'�_'-'
<br /> proceediag in banlauptcy.p r .r`.
<br /> pay for wratever is necessary to prec::.:�the value of the Property and Lender's righu in the Property. Lender's actions may � �4'��'�.�•��;'�� '
<br /> ::tc lu de paying any sums seeured b y a lien which has priority over this Securiry Instsuma::�, appearing in wurt, paying ° � -
<br /> • �` reasonab!e attomeys'fees and entering on the Property to make repairs.A1thoL��Lender�:y:�e action 4nder this para�apb � �'��'-•' •��'<�'-
<br /> . =':�. .�' ��`.
<br /> � 7.Lender:xs not have to do so. �''"'""'�
<br /> .,.:.� r��f�.,-----
<br /> �.)� Arsy a�ounu disbursed by Lu�d� under this paragraph 7 =_[.all becor.;e a�Citional. u3':+: of Borrower secured by this ��`�.6
<br /> , Security Instrument. Untesc Borrower�.�d Lender agree to other terrns of pay�:^t,these�.za:nu s h a U bear interest from the �: -=_-_�_,d,,..�:
<br />' date of disbursement at the Note rate and shall be payable, with interest, u.t-�_�� r.otice from Ixnder to Borrower requesung ,•_n�;���, ., �;
<br /> �>�._•
<br /> ' payment. �T''."':"_,,,,.,�:.
<br /> '� 8.Mortgage Insurance.If l.ender required mortgage insurance as a co°.����a of making the loan secured by this Securiry ,_,,..
<br /> lnstrumer.. Borrower shall pay the �:.miams required to maint:�i.n_ ,he mortgage insurance in effect. If. for any reason. the _.�"�
<br /> . �f _ _
<br /> , . mortgage:asarance coverage require�by L.ender lapses or ceases[o be in effect. Bonower<:�1 pay the premiums required to _ __ _„T:_,�---
<br /> :. ;{. obtain coverage substamially equivalent to the mortgage insurance previously in effect,at a cast substantially equivalent to the � ,:a,,
<br /> � cast ao Borrower of the mortgage insurance previously in effect, from an alrsrryte mortgage insurer approved by Lender. If ' ; ; �.;;,,1��
<br /> substantially equivalenz rr.ortgage insurance coverage is not available.Borrowe*s.':all pay to Lender each month a sum eqnal to �°f'`�'
<br /> .�� � .t.,` � :N.... •
<br /> '• ,�; - -. �''.
<br /> one-twelft�of the yearly mortgage insurance premium being paid by Borrower when the insc-�nce coverage lapsed or ce2sed to �_ __^_�;.���_,
<br /> : .'; be in ef:ect. lxnder will accept.use ansl retuin these payments as a ioss reserve in lieu of �:,�rtgage insurance. Loss reserve - ��._;� t..-., :
<br /> 8 _.fa. ��.
<br /> form 302'� 9190 .'�";"`��
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