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<br /> � � 97� �00�� �t: �- � ' -
<br /> 5. Hamrd or PropQrty insursnce. Borrower shal! heeQ the improcements nuw exiuing or hereafter erected un the •,,�• . ' • ;� -
<br /> ; Property insured agair�st loss by iire, hazards included within the term "extended roverage" and any other hazani+. including !� , � �
<br />` fioods or flooding, for which l.ender require`irtsurance. This insurance shall be matntained in the:unount.snd for the periods ----}:=---'��--=="---_
<br /> that Lender requires. The insurance carrier providing the insurance sl�:sll be chosen by &�rrower wbjctit tu I.�nJcr'.appru�•a! . : _
<br /> which shall nat be unreasonably withheld. If Burrower fails to maintain �vverage deticribed ahove. Lcnder ma}. at I.ender'. • . �
<br /> option.obtain covera$e t�protect Lender's rights in the Property in accordance with paragraph 7. • ' . �£y
<br /> - All insurance policiv and reneu•als shall be acceptable to Lender and shall inrlude s ,tandard mortgagr rlau�e. Lender _ _
<br /> shall have the right to hold the policies and renewals. If Lender requires.Borrower�h:ill promptly gi�e tu Lender ail rereipts of _ ' - : � -
<br /> paid premiums and renewal noaces. In the event of loss,Borrower shall give prompt notice to the inaun�nce wrrier and Lender.
<br /> Lender may make proof of laas if not made pro-nptly by Bormwer. � �� '
<br /> ' Unless Lender and Borrower othenvise atrr�in vrriting,insurance proceeds shall be applied to restoration or npair of the .',_,, � �. � � ��•�.s
<br /> a�. -..:+�c��s
<br /> . Property damaaed,if the restoruion or repair is economically feasible and Lender's security is not lessened.If the restoration or � , •��
<br /> repair is not ecanomically feasible ur l.ender's security would be lessened,the insurance procec�ds shall be applied tu the .ums � � .� .� �• •
<br /> c� �
<br /> �..�,.:-•�.,-,w•=��,- '
<br /> secured by this Secx::��� In,Frucs�ae, uhether or not then due, with any� excess paid to Borrower. If Borro�ver abandoas the . �, �,�Y�,�_;.��:
<br /> � Proprrty,or daes nrat a.�sw�r Kithin 30 days a r►otice from Lender that tha inwrance carrier has offered ta settle a claim. then i`.�Y,���
<br /> � g Lender may collect th� insurance proceeds. Lender may use the prooeecls ta repair or restom the Property or to pay sums �-:^:„M;;�: `��—'�
<br /> � secured by this Securiry lnstrument, whether or not then due.The 30-day prriod will begin when the notice is given. _.:�,_._ �;�----
<br /> �� Unless I.ender and Borroa tr otherwise agree in wri3ing, any application of proceeds to principal shall not extend or � `' ••�• �-�--�s �.-
<br /> ` postpone ihe due date of the m.�nthly paymenis referced to ia paragraphs 1 and 2 or change the amount of the pAyments. If ^,�`-�' � -�'�-'� -
<br />. ,; under paragraph 21 the Propecty i�acquired b� l�nder. Borrower's right to any insurance policries and proceeds resuldng from '��?;�-'�
<br /> damage to the Pro�rty prior to the acquisition shall pass to Lensier to the eatent of the sun�s secured by t his S e curity Instr.�ment ��'"_`"�' -°- ..
<br /> immediatel rior to the a uisivon. ��':,�'�
<br />.;�� YP �9 '�- -�°�-��-_-
<br />� E 6,pccupancy,preserva�.iblaintenance�rsd ProtecNon of the Property;Bocrower's Loar�ApplitatIon:LPasetaotds. �`_��-�--
<br /> .S Borrower shall occupy.estabir:�,and use the Property as Borrower's principal residence within sixty days a fter t he execution o f '��•�� __;�., . • „�: �,:��
<br />' this Security Instniment and shall continue to accupy the Property as Borrower's principal residence for at least one year after .. � � ��' •%_��'
<br /> the date of occupancy,utiless Lender otherwise agrees in writing,whieh e:�sent shall no[be unreasonably withhetd,ar unless �, . 4..
<br />�•,•� �.'� �����.,'�'��°,;.
<br />• .'Y extenuating circumstartces exist which are beyond Horrowrer's control. ��rrower shall not desuoy. damage or impair the „�;;,,�.,:. �,r;�: �
<br /> . Property, allow the Property to dateriorate, or commit waste on the Pn�erty. Borrower shall be in default if any forfeiture ��' �1;=••
<br /> actiord or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment cauld resWt in forfeiture of the �` ��` �.-�
<br /> Property or ott►erwise materially impair tlie lien created by this Security Fns4-ument or Lender's security interest. Borrower may ' � �• �i+i;. ��:•.•
<br /> cure such a defac3:a�d reinstate,as rovided in h 18.b causin�the a,.^tion or roceedin to be dlsmissed with a rulin � �""' �"'
<br /> �'�'` t .,
<br /> that, in Lender s gc+x faith duermination, pr:c�udes forfeiture of ther�nrrawer's in erest in the Property or other material s�� � �"���
<br /> ".• .' impairment of the itc�created by this Security instrument or Lender's sa:usity intere;t. Borrower shall also be in default if
<br />' Borrower,during t�e:loan app'.ixr�n process,gave materially false or i�a:xurate information or statements to Lender(or failed l::,. ,rer�_'.;!'. ;,"
<br /> � to provide Lende:wath any material informatian)in connection with the la.�n evidenced b the Note,includin ,bui noi limiled � : �r'• ��, ,
<br /> . � Y g �=�:;,..r:,���; .-�..-_
<br /> to,representatio�s��anceming Borrower's occl���ncy of the Property as a priacipal residence. If this Security Instrument is on a ` :,.,.:;... __.
<br /> leasehold. Borrc�yrer shall comply with all t�� provisions of the leas.. If Borrower acquires fee title to the Property, the ��'i°�`'� .
<br /> leasehoid ar.d the fez ritle shall not merge unless Lender agrees to the merger in writing. . r�
<br /> 7.Prrul�on of Lender's Rlgt�ts in the Property.If Eo��wer fails ta perform the covenants and agreements contained in '� ' •~ ':�`�=:��-
<br /> this S�ec�utrty Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a ''•r:'�� -r�°�T`__'=-'��
<br /> � proceeding in bankruptty,probate, for condemnation or fosfeiture or to enforce laws or regulations),then Lender may do and '°��__
<br /> pay for whatever is necessary to protect the value of the �roperty and l.ender's rights in the Propeaty. Lender's actions may �`' "�
<br /> �-�;�Y,-;;...
<br /> include paying any sums secure� by a lien which has priority over this Security Instrument, appearing in court, paying ""�'��"°``� "''°"
<br />. reasonable attomeys'fees and erl.ering on the Property to make repairs.Although Lender may take action under this paragraph i .�n�� � _.__
<br /> ee
<br /> 7,l.ender does not have to do sc,. ��"�T ` •'-_ �'•: .�- `=��
<br /> � �1,'Yql� <<�hn<r•.^.._-c�r�r--__�___'
<br /> ' Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this -=--
<br /> Security Instrumers. Unless Borrower and I.ender agree to other tertns of payment,these amounts ShJI bear interest from the ��' �_' ,.. .
<br /> date of disbursement at the Note rate and shall be payable. with interest, upon notice from L.ender to Barrower requesting �- - " - •
<br /> payment. �
<br /> � 8.Mortgage Insurance.If Lender required mortgage insvrance as a wndition of making the loan secured by chis Security __:'}�'�--�---=��'��
<br /> � Instrament. Borrower shall pay the prenvcs.s required to maintain the mortgage insurance in effecc. If, for nny reason, the
<br /> . mortgage insurance wverage required by L��ulrr lapses or ceases to be in effect.Borrower shall pay the premiums required to ����'._
<br /> obtain coverage sibstantially equivalent to F`,: mortgage insurance previously in effect,at a cost substanti�lly equivalent to the �u."�-���t}«:--_ �
<br /> ���
<br /> cost to Borrower of the mart;�;�;t: insurance previously in effect, from an altemate mortgage insurer approved by l.ender. If _ ��-::�.
<br /> �-,`
<br /> substantiall uivalent mort�v��:insurance covera e is not available.Borrower shali to Lender each month a sum ual to �' �• �� -• -
<br /> Y�I 5 � B P3Y �1 `�''�i,.4 .,:,. •• ,;�.,
<br /> one-twelfth of tSte v�rly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to t=`"���-'�'�`°'�'
<br /> be in effect.Leni,�wil!accept.use and rec��these payments as a loss �eserve in lieu of mortgage insurance. Loss reserve � ��±�a-�- °
<br /> �� Form 3028 8f80 i�s- ���*-.' .��
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