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<br /> . r - . 5. Hazacd or Property L�m�a� Borrower sUall keep the improvements a�eacisting or hereafter erected on the :. �"`�.:`� . . F;�
<br /> ' ` , Property insured against loss by fice,hazards mcfiuded within the term "extended wverage" and any other harards. inch�din8 , . ...
<br /> . - `' � fluods or flooding.for wtuch Lender requires insurance.This insutance shall be maintained in the amounts and for the periods ���� `�... �d�:'�4`.
<br />- , . `°`� ,'�• that Lender requires.The ir�urance canier providing the insurance shall be chosen by Horsower subject to Lender's approval `:'{�"• ^.�r,.,," '
<br /> • . which si�all not b�:unreasonably withhcld. If Borrower failc to maintain rnverage described above. Lender may,at I.ender's
<br /> .' ,r�� Y: _.,.,.
<br /> apaon,obtain coverage to protec[Leader s rightc in the Property in accordance witt►ParabraPh 7• � ,� ��`•
<br /> ' ` AU insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender
<br /> • � shall have the right to hold the pal'scics and rene�vals.If Lender requires.Borrower shall prompdy give to I.ender all receipts of ,
<br /> _ � pa�d premiums and reaewal notices.ln the event of toss.Borrower shall give pmmpt notice to the iasurance carrier and Lender. ,. .
<br /> .` Lender may malce proof of loss if not made prompdy by Borrower. . • �
<br /> - : .-� -,r..;��-. Unless Lender and Borrower othenvise agree in writing.insurance pmceeds shall be applied to restoratian or repair of the _ . .,
<br /> =:----;,;:;� Progerty danmged.if the rescordtion or repair is economirally feasible and Lender's security is not lessened.If the rescoration or -- - - -
<br /> repair is not ecoaomically feasible or Lender's sec�rity would be lessened.the insurance prooe�ds shall be applied to the sums ;
<br /> -, ' � secured by this Securiry Instrument. whether or not then due, with any excess paid ta Borrower. If Borrower abandons the ,�,.` �fl' ' .
<br /> • � Property,or does not answer�vithin 30 days a notice from Lender that the insutance carrier has offered to settte a claim,then '
<br /> _ ..- ' .: . Lender may colled the insurance proceeds. Lender may use the proeeeds to repair or restore the Property ar to pay sums . �.`.t� '°,�.�`
<br /> , secureA by this Security Instnimen�whether or not thea due.The 30-day period will begin when the notice is giveu• , ,f...-
<br /> ` � Unless l.ender and Borrawer otherwise agree in writing, any application of pmceeds co principal stiall not eztend or ,- :-�-�.-'
<br /> ; •. � ��_-y
<br />" , 4 ~• postpone the dae date of the monthly paymenu refemd to in paragraphs 1 and 2 or change the amonnt of the payments. If ,�_,-,
<br /> '• +�� ' uader paragraph 21 the Property+is acquired by Lender,Borrower's right to any insurance policies and�Smceeds resulting from �. � �+-i . .
<br /> c �•;=-
<br /> ' damage to t}ie Property prior to the acquisition shali pass to L.eqder ro the extent of the sums secur�d by tfiis Security Instrument ``,,�.���_
<br /> "„ , . immediately prior to the acquisition. . -
<br /> , . � 6.Occupancy,Freservation,Maintenance aad Protect�on of the Pcoperty;Borrowes's Loan AppliraHon;Lease6odds. ,
<br /> ` rs
<br />- - ~ ,:�-f�' Borrower shall occupy.establish.and use the Property as Barrower's principal residence within sixty days after the execution of _; :.,,�,•��_
<br /> . . - this Security Inswment and shall continue to accupy the Property as Borrower's principal reside�e for at least one year after ,,r:.,_.-
<br /> _ , . the date af accupancy.unless Lender otherwise agrees in writing,which consent shalt not be unreasonably withheld,or unless ..4._-�
<br /> - � extenuating circumstances exist which are beyand Borrower s contral. Borrower shall not destroy. damage or impair the ':�.-_;"`. ��;
<br /> + 4� � � Property.allow the Property to deteriorate, ar commit waste on the Propercy. Sorrawer shall be in default if any forfeituie �'�_
<br /> ' action ar proceeding. whether civil or criminal, is begun t4iat in Lender's gaad faith judgment coald result in forfeiture of the i � � ,� _
<br /> �. � � Property os otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may _ �,
<br /> �r :;:. :
<br /> - � - cure stich a defautt and reinstate,as provided in pr�ragraph 18,by causing the action or pmveeding to be dismissed with a ruling .`���
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<br /> � . ' � �••��,'� that, in Lender s good faith detemtination, precludes forfeiture of the Borrower s interest in the Property or other material •��`' ��,:?:�Y
<br /> - �;� impairmert of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if . , e_�-_
<br /> ' � • Borrower,during the loan applicauon process.gave materially false or inaccurete informarion or statements to I.ender(or failed �'`r�=-
<br />--1. � � � to provide Lender with�*n material information)in connection with the loan e�z�enced by the Note,including.but not litnited • °Y'"� _ '
<br /> � �f—
<br />: �''� • ,' to,representadons conceming Borrower's occupancy of the Properry as a princiy�a:residence.If this Security Inshument is on a _ �`j
<br /> �"•�. leasehold, Horrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the •, , � �,;�,__�;
<br /> - • leasehald and the fec title shall not merge unless l.ender agrees to the merger in wri6ng. . '" "-
<br />-_ - -_ - ---- 7.Pca22�^tion af l.enSer's Iiights in the Property If Eorrower fails to perfnrm the covenants and agreements wntained in ____ _ ;_�'
<br /> __. this Security Instrument, or there is a legal praceeding that may significandy affect Lender's rights in the Property(sach as a _
<br /> proceeding in bankruptcy.probate.for condemnauon or forfeiture or to enforce laws or regularions),then Lender may do and .,.="_
<br />--- - - � �� pay for whatever is necessary ta protect the value of ihe Property and Lender s rights in the Properiy. I.ender s aMions may _ 1x�'r.--
<br /> inclade paying any sums secured by a tien which has priority over this Security Instrument, appearing in oourt, paying ��-r�=
<br /> � i.�. � �.?±�=-=:
<br /> � � reasonable attorneys' fees and entering on the Property to make repairs.Although Lender may take action under this paragraph ,;��,-
<br />=::k�. � 7.Lender does not have co do so. �• �--.
<br /> • ' - Any amounts disbussed by Lender under this pazagraph 7 shall become additional debt oF Borrower secured by this • :,. �<�T..
<br /> ' •• .. Securiry Instrument. Unless Borrower and Lender agree to other terms of payment,ihese amounu s h a ll bear interest from the . -'""_ �Y_.
<br /> date of disbursement at the Nate rate and shall be payable, with interest, upon notice from l.ender to Borrower reqursting
<br /> :. . . ' payment. � _
<br /> r�;.` 8.Mostgage Insurance.If Lender required mortga�e insurance as a condition of making the loan secured by this Security ,
<br /> " • ' Inctrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the . -
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums rcquired to • � _
<br /> ` obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> : .� cost to Borrower of the mortgage ins�rance previously in effect, from an altemate mortgage iasurer approved by Lend�r. if � . ��
<br />-s�;,,� � � ' substantially equivalent mortgage insurnnce coverage is not available.Bonower shall pay to Lender each month a sum equal to ;
<br /> ����` � one-twelfth of the yeariy mortgage insurance premium being paid by Borrower wfien the insurance coverage lapsed or ceased to , .
<br />;.,.• . �
<br /> �t � be in effect.l.ender wiil accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> � Form 3025 9/90 � �.
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