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<br /> _ _ '.;>.ti=-:n=�,? 5. Ha�ar�d ar ProPertY Insaranoe. B arrower s h a ll k e e p t h e i m p ro v e m e n t s now existin g or hereafter erected on the . ._.
<br /> _ . . . -� p ro P�y;n s�r e d a g a i n st loss b y fire,hazards included within the term "extended coverage" and s�tiy other ita�ards.iucluding . .�����+ r`*;'..t�:;.
<br /> � IIoods or flooding.for which Lxnder nquires insuiance.This ins�rance shall be mai n t a i n e d in t he amoun t s a n d f o r t h e p e r i o d s �:_; } , :
<br /> - � � t�at Lender reqnires.Ttie insurance carrier providing the insuiance sha11 be chosen by Borrawer subject to Lender s approval , "'„,^� . ..
<br /> , , - which shall not be unreasanably withheld.If Borrower fails to maintain coverage descdbed abave. l.ender may. at I.ender's :T.` ,. • �.+F-
<br />"_ ' � oprion,obtain coveiage to pmte�L.ender s rights in the P�perty in accordance wit�p��Ph 7. . ," • � .
<br /> � pll insurance policies and renewals shall be acceptabte w Le�der and shall include a standand mortga8e clause. L.ender ;
<br /> {.;�� .,. '-
<br /> - shail have the right to hotd the policies and ieaewals.If Lender requires.Borrower shall prompuy give to Lender all receipis of ..� �r.,.__�,'
<br /> � . `._,.<�,a•• paid premi�s and renewal notices.In the event of loss.Borrower shall give prompt norice to the insuiance carrier and IRnder.
<br /> • ' .' ' ' Lender may make pmof of ioss if not made promptlY bY Borrower. �• .. ,
<br /> ".=----'"'``: iJatess Lender and Borrower otherwise agree in writiag,insuranoe Proceeds shall be applied to restoration or repair of the .
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<br /> �-. property damaged,if the restoration vr repair is eoonomicalty feasible and Lender's security is not lessened.If the restoration or
<br /> ' " ` repair is not eaonotnica[ly feasible or Lender s security woutd be tessened.the insurance prooeeds sha11 be applied L°ihe sums �:-
<br /> ' secured by this Security Instrument, whether or not then dne,with any excess paid to Borrower. If Borrower abandnns the ..�4 , , .;s '
<br /> . - proPerty,or does not answer within 30 days a notice finm Lender that the insurance carrier has offered t�settle a ciaim.then �_. --, : `",
<br /> ` .'`� L x a d e r m a y wltect the insurance pi+oceedc. Leader may tue the proceeds to repair or resto� the P�roperty or to pay swms _:•, �.
<br /> _._:::�.�.r,_. ': �!�•-
<br /> ` ' � secured by this Security Instrument,whether or not th�o due.The 30-day period w i l l 6egin w hen t he na ri c e i s g i v e n. :-_`��.:
<br /> -=�-�--;.--•'� Itradon of roceeds to principal shall not excend or �.
<br /> — (Tnless Ler.der and Borrower otherarise agtee in writiag,a�►y aPP 1 and 2 or change the amowrt af the payments• If •�� _ `�`''""
<br /> , postpone the due date of the raontWY PaYme�►ts rcferred to in pazagrap y olicies and roceeds resulting fram '� ._ ,». ., �,
<br /> . under paragraph 21 the Property is acquised by Lender.Borrower's ri t to an insurance p P -
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<br /> .::, . •• ...� .. ' damage w the Fropetty prior to the acquisitiou shall pass to Lender to the extent of the sums secure�by this Security L�strument . `�+_
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<br /> � ;, immediately prior to the acquisirion. p , ���o��otds. ;
<br /> � .. � . 6.Ooaipancy,Presecvatton,Maintenanoe and Protectton of the Pro erty:Borrower s Loan App •�.,�,' -
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<br />- . . . Borrower shall occapy.establish.and use the Property as Borrower's principal residence a�ithin sizty days after the eaecution of `::._� ___
<br /> •'' ��.::� this Security Insuvment and shall continue to occupy the Property as Borrower's princiPai resideace for ai least one year a8er ,. .`.: ._°"
<br /> �. _ the date of ocxupancy,unless Lender otherwise agrees in writing. which consent shall not be unreasonab{y withheld,or unless � . . �:�
<br /> y e or impair the . ,,!.�.,_ ��.
<br /> ---- '- e x t e n a a t i n g c i r c u m s t a nces exist wtuch aze beyond Borrower s comrol. Borrower sl�all not destro , damag ,
<br /> ` property, allow the Pr+apecty to deteriorate, or wmmit waste on the Property. Borrower shall be in de fa u lt i f any fo r fe i t u r e .: ;¢_
<br /> �.' a c t i o n o r proceedin g,whether civil or criminal.is began that in l.ender's gqod faitb judgment could result in forfeiture of the �:�,�
<br /> ,+�.` ,:a: �-
<br /> c.:•�: Property or otherwise materially impair the lien created by this Security Insuunient or I.ender s security interest.Borrowe r m a y :: :� , ,,,�._�
<br /> � cure such a default and reinstate.as provided in paragraph 18,by causing the action or proceeding to be dismissed a+ith a ruling :`�� •
<br /> ' �• that, in Lender s goad faith determination. precludes forfeiture of the Borrower's interest in the Property or other materiat • : -.
<br /> � . �:• �= ia�painnent of the lien cr�by this Securiry Instrument or Lender's security interest. Honower shal! also be in default if �'
<br /> Boaower.during the loan application process.gave materially false or inaccurate infonnation or statements to Lender(or failed ����`. .�:��:
<br /> • � �'�'• to provide Lender with any material information)in conaection with the loan evidenced by the I�Iote,inclading.but not Gmited : '��'
<br /> �� ' ��`�� to.representarions conceming Bpnower's occupancy of the Property as a Principal residence.If this Security Instmment is on a :~: :;.•.;���.
<br /> �� .• ��
<br /> ' leasehold. Borrower shall comply with all the provisions of the lease. If Borrawer acquires fee title to the Property, the • �. , i��:
<br />- � . ,- ` leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. .- ' '� :u�;-=
<br /> -- ` ,`�, 7�I'ratcrtion oY I.ender'c Rights in the I'roperty.If Borrower fails to perform the covenants aad agreemeuts wntained in � � =
<br /> �-`
<br /> ; this Security Insu�ment.or there is a legal proceeding that maY signific�ndy at�'ect l.�nder's righus in the Property (such as a _T
<br />-_ proceeding in bankcuptcy.probate,for condemnation or farfeiture or to enforce laws or regulatioas).then Lender may do an� ��-�
<br /> ___ ____. _ gay for whatever is necessary to protect che value of the Property and Lender's righu in the Property. Lender's aetions may y��=�
<br /> . � ' � _ include paying any sums secured by a lien which has prioriry over this Security Instrument. appraring in wart, paying ����=
<br /> ' reasanable attomeys'fees and entering on the Property to make repairs.Although I.ender may take actian under this paragraph _ __
<br /> • �7.Lender does not have to do so. :�:'= <'�'•��
<br /> _- ' � � � Any amoents disbursed by Lender under this paragraph 7 shall become addiGonal debt of Borrower secured by this �.�.��___,�y_
<br /> ,( �,. ` . . Security Instrument. Untess Borrower and Lender agree to other tem�s of payment,these amounts shall bear intesest frora the ..
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<br /> � • �r date of disbursement at the Note mte and shali be payabte. with intenst. upon notice from Lender to Barrower requesting — '
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<br /> � . 8.Mortgsge Ir�surance.If Lender required mortgage insurance as a condiuon of making the loan secured by this Security �,��•:•�:.
<br /> Insuument. Baaower shall pay the premiums reqnired to maintain the murtgage insurance in efFect. If. for amr reason. the � .` � ,;'�'"�`��-
<br /> °•.}t� ' . _ mortgage insurance coverage required by Lender lapses ar ceases to 6e in effect. Barrower shall pay the premiums required to :��+='`�_'__�, _
<br /> - obtain coverage substantially equivalent to the mort�age insurance previously in effect.at a wst substantially equivalent to the
<br /> :` ,. . '
<br /> ' � � cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available. Borrower shall pay to l.ender each month a sum equal to -;--�_=�-
<br /> ' ane-twelfth of che yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to � �• ••�_�,.
<br /> �� be in effect.Lender will uccept.use and Tetain these payments as a loss reserve in lieu of mortgage insurance. I.ass reserve
<br /> � Form 3028 9/90
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