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<br /> - � " :. LOAN NO: 490139904 �
<br /> " , • 5. � or pi.ap�l.y Insurance. Borrower shsll keep the improvements now existing or hereafter enected on t6e ' `. ' , • . F
<br /> �P�Y insured against loss by fire,harards included within the term "extended coverage" and any other ha7ards. inciuding
<br /> .. .- .-,�q �oods or flooding, for wluch Ieader iequires insnisnce.This insvrence shall be maintained in the amotmts and for the periods � Y -�
<br /> ! that Lettder requims.The insusance carrier providing the insurance shaU be chosen by Borrower subject w Lender's approval _: , , .,
<br /> . �'_-� whick shall aot be unreasonably withheld. If Borrower fails to maintain covert►Se described above. Lender may, at lxader's � ` , .
<br /> ` option.obtain coverage to protect I�nder s rights in the Property in accordance with paragrap6 7. ' .
<br /> ` pu;n�,ranc�e policies and renewals shall be acceptable to Lender and s1�all include a standatd mortSaBe claase. Lender
<br /> ' �•� ' • shall have the rigbt w hold the policies aad renewals.If I�adex tequires,Borrower s1�a11 Pr°mPUY 8�ve to Lender all m.ceipts of �
<br /> . , � paid premiums and renewal no6ces.ln the event nf loss.Brnrower shail give pmmpt notice to the insvran�e carrier and Lender. a . . ._ . ,
<br /> � . Lender may make proof of loss if aot tnade ptomptly by Borrowes. •:
<br /> , _ Unless Lender and Borrower otherwise agree in writing,i°Qt�^ce pmce�dg shall be applied to rescoration or repair of the � ` _ _ _ _
<br />- - ` -��-�`' �:'- ProPerty damaSed.if the restotation ar repair is ecanomicalty feasib1a snd lendes's security i9 not lessened.If the resWration or � __ _,_-_
<br /> � . repair is not economically feas�ble or L.ender s secwity a+onld be tessened.the insurance Proce�s shall be aPpued t°the su°�s � - _
<br /> . .. " �� � secured by this Security Instn�ment, whether or not then due, with any excess paid to Borrower• If Borrower abandons the
<br /> . j properly, or dnes not answer arithin 30 days a aotice from L.ender that the insurance carcier has ofFered to settle a claim,then _. `�;,s�
<br /> : �: � Lender may calleci the insurance proceeds. Lender mtiy use the proceeds to repair or resWse the Property or to paY �� .._ . ��
<br /> secured byr this Security IastNment,wbether or not then due.The 30-day psriod will begin when the notice is given. _.'f� E.��,
<br /> � Unless I,eader and Borrower othernrise agree w a+riting� anY aPPlication of proceeds to principa! shall not extend or . ;•
<br /> .� � postpone the due dafe of the monttily payments refemed to in par�'aP1�s 1 and 2 or clrange the amount of the payments.If under _
<br /> . �. paragraPh 21 ths Propercy is acquired by Lender, Borrower s right to any insutanee policies and proceeds resulting from •. • '�,-�:-
<br /> ,: °;,---�-'-
<br /> . damage to the Property prior to the acquisition shall pass w Lender to the extent of the sums secured by this Security 1�ent - ,�-,�--
<br /> � �* immediately prios to the acguisirion. '
<br /> '- -Lr^' .
<br /> � � '� f 6. Occupancy, Preservation, Maintenance and Protection of the PropertY; $armwes's Loan Applicatlon;
<br /> �` Lease6olds.Bonower sha11 accupy,estabfish.and vse the Property as Borrower's principal�sidence within sixty days after the � �<
<br /> � . ,,.'�, eaecution of this Security Instrument aad shaU continue to accupy the Property as Boaower's priacipal residence for at least one . •';,��.�,,��_
<br /> ' .' , � --_c. year after the date of accupency.untess Leader otherwise agre�v in writing,wiuch c°nsent shall not be unreasonably wiWhald, . . r •_ . `'_�,�
<br /> . , or unless extenuating circumstances exist wfuc6 are be ond Bmrower's control. Bor�wer sha!!not destcoy.damage or impair _...�.T.,.,-:.
<br /> Y ���:�>-`-
<br /> � � the Yraperty. allaw the thoperty to deteriorate.or commit waste on the Property.Borrower shall be in defauit if any+forfeiture . :�`�_
<br /> � acdon or proceeding,whether civil or criminal. is begun that in Lender's good faith judgment could result in forfeiture of the :r r'�;A,�-.
<br />__ , _ ProPerty ar otherarise materially impair the lien created by this Sxurity Instrument or Lender s security interes�Borroaver may _.. ,,..','�'�,�_;"
<br /> .. cure such a default and reinstate,as provided'w paragraph 18, By causing the action or praceeding w be diamissed with a rating ":+.?���.,'_
<br /> �.:.
<br /> that, in Lender's good faith deternvnation, precludes forfeitut+e of the Borrowet's iaterest in the Property or other material _ :,��;�W
<br /> �_
<br /> � . impairment of the lien create�by this Security Instrument or L,ender's security interest. Borruwer sfiaU also be in default if , �.�':���:�'_;,
<br /> • Borrower.during the loan applieation proeess,gave materiall y false or inaccurate information or statements w 1�ender(or failed , ,, ��s�''
<br /> - `• co provide Lender wit}ti any material infom�atioa)in connection with the toan evideaced 6ry the Note,includiag,but not limited r;.:�'.�,
<br /> : ' m
<br /> � . �, to,representations canceming Borrower's occupancy of the Propefiy as a priacipal residence.If this Security Instrument is on a '',.�,..�`
<br /> � � leasehold. Barrower shall comply with all the provisions of the lease. If Bortower acquires fee title to the Praperty. the ,,;;�.r',:;:,
<br /> ' lrasehold and the fee title s6a11 not metge unless Lender agm,es Eo the cncrger in tvriting• �" `":
<br /> ,: d�,.
<br /> • ' 7, Prote�tion of Lender's Rlghts in the Property.If Borrower fails to perfarm the covenaats and agruuients contained .��: ,.::
<br /> '' � � • in this Security Instrument,ot there is a legal pr�oceeding that may significantly affect Lender's rights in the Propecty(suc6 as a :;�_;
<br /> • yte.J __
<br /> •• • " procecding in bankruptcy, probate,for condemnation or forfeiture or to enforee laws or regulations).then Lender may da and . . ,; _�
<br /> -��i_,
<br /> _ pay for whatever is necessary to protect the valae of the Property and Lender's rights in the Properiy. L.ender's aciions may , ,,,,
<br /> :-..,�_._y.-:
<br /> inclnde paying any surns secured by a lien which has priority over this Secutity Instrument, appearing in court, paying , .•�.� .
<br /> . .`
<br /> ° reasonable auameys'fees and entering on the Property to make tepairs. Although Lender may take action under this paragraph ,���..,
<br /> :�::�
<br /> .:; . 7.Lender does aot have to do so. _'` �
<br /> ' . ' Any amounts disbuned by Lender under this paragraph 7 shall become additional debt af Borrower secured by tbis �,� � �'�'=
<br /> !,. } :.
<br /> � Security Instrument. Unless Bonower and Lender ngree to other terms of payment,these amounts shall bear interest from the s�; • �_
<br /> .,'"�+'�.
<br /> : � ��3 d a t e o f d i y b u r sement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting �"_ ,
<br /> paymeat.
<br /> � 1°. ` 8. Mortgage Insurance. If Lender required mortgage insurance ns a condition of making the loan secured by this
<br /> • • .F Securiry Instrument.Borrower shall pay the premiums required to maintain the mortgage insurance in effect.If,for aay reason, `'�r .
<br /> �� ' . ' � the mortgage insurance coverage required by I.ender lapses or ceases to be in effect,Borrower shall pay the premiums required
<br /> `�,.:; ' ; to abtain coverage substantially equivalent to the mortgage insurance previous6y in effect,at a cost substaatially equivalent to ,
<br /> �� the cost to Borrower of the mortgage insurnnce previousJy in effect.from an a�:�nate mortgaga insurer appr�tied by I.ender. If
<br /> . � .
<br /> � . substantially equivalent t*�ortgage insurance coverage is not available.Borrower shall pay to Lender eacb month a sum equal to
<br /> �' one-twelfth of t0e yearly mortgage insurance premium being paid by Bonower when the insurance coverage Inpsed or ceased to ,
<br /> � be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. I.oss reserve - ;
<br /> .. ; .
<br /> ' ' � Form 3028 9/90 , ' '
<br /> t3MQCM-CMS.0263.NE(95011 Paeo 3 ot e �niHa�s:
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