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<br /> S. Hutard or Propetiy Insuaunce. Borro�ti•er shall lcee� the improvement, nuw� existing or here:after enxted on the +^�•� � . � ' �.. � .� �
<br />� Propeny m.urul agaimt loti�by fire, ha�rd+ incluJcxi within the term 'extended coverage" :snd any other hazards. inefuding ',�^- �R
<br /> � tlowls ur tlaoding. tor�vhich Lender reyuires insurance.Thi, in�uc:ui�-�,halt be maintained in the xm��unts and for the pedoJ� ' ��;..�,:�;,�.:�
<br /> [hat Lender reyuires. The imurance carrier providinr the iiuurance tihall be chosrn by &�rrowcr+ubjext to Lender's appn�val . • ` "
<br />• whirh +hall n��t be unre;ssonably withheld. If Borru�vrr fail. to m�intain covcrage dekribctii above. i.�der may, at l.ender's ����
<br /> option.obtain coverage w prote�:t Ixnder's righu in the Propeny in aca�rdance�rith par,igr.�ph 7. ' ' �
<br /> All insur..nce policic� and renewals shal! be acceptable tu Lender and shali include a �tandard mongage clause. [..ender .`_�; '._LL,_-;
<br /> - shall have the nght to hoid the policies and rcnewal�• if L�nder requires,Bormwcr sha!!promptly give to Lender a!!mci�ts of -� = _
<br /> ` .��4
<br />• paid premium4 and renewal natires. In the event of loss,Borrower shal!give prompt notice to the insurance carrier and Lender. � _ __
<br /> � Lender may make pmof of loss if not made prompdy by Botmwer. 4 ' � ' '`�:� .. -
<br /> • Unless Lender and Horrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the � . . . . - �
<br />.�' Property damaged, if the rescaration ar tepair is economically feasible and L.ender's security is nat lessened. If the restoration or � �. • ;:3;_ A.
<br /> • repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the st:ms '-{`-" -�'a�' s°
<br /> �='�r.•�ux •.:���;,�__;._;..
<br /> secured by this Securirv Instnunent. �vhether or not then due, with any excess �aid to Borrower. !f Borrower a b a n dons t he • ,� �.�:. -_-��.••--
<br /> Property,or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a elaim,then � ��' •�
<br /> ;�_-�:-,..—.
<br /> ; Lender may caUect the inswrartce p�roceeds. Lender may use the proceecls to repair at restore the Property or tc► pay sums �y•,'-�-��-�-=---=x''�°"'
<br /> � secured by this Security Insnument, whether or nat then due.The 30-day period will begin when the nodce is givea. _ ,�,.,�g„r=�,:
<br /> ' Unless L.ender and �o�o�s•er otherwise agree in writing, any application af proceeds to principal shall nat extend or ��
<br /> postpone the due date of the rnonthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If "�'� '�=�"°""=�����
<br /> ���� ���.
<br /> under ara h 21 the Pro e is uired b Lender.Borrower's ri t to an insurance licies and raceeds resultin from - � - � '
<br /> P S�P P ►tY �9 Y � Y Po P � •.. R,';:� .
<br /> damage to the Property prior to[he acquisition shall pass to Lender to the extent of the sums secured by this Secvrity Instrument � `� -
<br />- immediately prior to the acquisiuon. � - '�y'�'�-".�
<br /> - 6,Occupancy, Preservat���a,Malntenance and Proia�fnn of the Psoperty;Borrower's Loun Appl�eatfon;Exasehatds. �-�___
<br /> �� Barrower shail occupy,establisfi.arid use the Properry as Sar ower's principal residence within sixty days after the ercecution of r •-��a:_
<br />;�::,•,�
<br />:,,;j�;.;, this Securiry Inswment and shall continue to occupy the Froperty as Borrower's principal residenoe for at least o�year after :?�,-� ,._
<br /> s'-;: the date of occu anc•,unless Lender otherwise in writin , which consent shall not be unreasonably withheld,or unless r t� ;_t__
<br /> :�.„� p y ag� S ' �`., �
<br /> ' extenuating circumstances exist which aze b�yond Borra�ver's contml. Borrower shall not destroy, damage or impair the ��, ;�,� ,.,. : .`.
<br />. _ Property, allow the Prop�rty to deteriorate, or com�ic wa�.;on the Property. Borro�+�er shall be in default if any fort'eiture � ' � •�' � �°•
<br /> z�ion�r proceeding,whether civil or criminal.is be�i�at isi Lender's good faith j��^ment could result in fod:e:-ture of the �`,..•,., ,.
<br /> Property or otherwise materially impair the li�crated b.;�*s Security Instrument or IIRa3er's security interest.�:rower may �� ' ' ''•��•"�� �.�',-
<br /> �,
<br /> - cure such a default a.�d reinstate,as pravided in g�agrap:� 18,by causing e➢ie action or pmceeding ta l+z dismissed with a ruling ' _ •��;�' ••
<br /> ' . that, in Lender's gaod faith determination, p*�.cludes forfeiture of the B�..vwer's interest in the Fropaety or other material .::1�..�.�=��
<br /> impairment of the lien created by this Secur._} Instrument or Lender s security interest. Borrower shaU also be in default if '.�� �
<br /> � Borrower,during the loan appiication process,gave matere:l!y false or inaccurate info.��ation or statements to Lender(or failed � "�F''G'�,.•:.�•� _ __
<br /> to provide Lender with any ma_3ial informationy in connectiun wi�h the loan evidenc�by the Nate, including.b�rt not limited `''' `�'
<br /> ,„a��.:,,�. .
<br /> , to,r,epresentations conceming Borrower's ac��rancy of the Psoperty as a prin.,-ipal residence.If this Secarity Instrumeat is on a ���9 ';`"; , ;,-
<br /> � ' �..
<br /> . leasehold, Borrower shall comply with alt the provisians of the lease. If Borrower acquires fee tide to the Property, the �
<br /> leasehotd and the fee qtle shall not merge unless Lender agrees to the merger in writing. • � --=�'°'__,_
<br /> ��.._ _..._......_.
<br /> ��'. �� 7.ProteCilon of Lertder's Itig�ts in the Property.I€Borrower fails to perform t��covenanu aud agreements contained in --•�� _� .
<br /> this�ZCUrity Instrument, or�h�re'ss a legal proceeding that may significantly affect Lr.,:der's righu in the Property(sach as a � �• ' '��"��'; -�
<br /> �� •� procexding in bankruptcy. proba:e, for con����ation or forfeiture or to enforce laws or regulat'sons).then Lender may do and �F�'���:�•n_===�.
<br /> •'•�'�' a for whatever 'ss nece�s to rotect the value of the Pro and I.ender's ri ts in the Pro e Lender's actions ma ... �� ��.
<br /> •• , P Y �3' P PertY 8t► P rtY• Y
<br /> .:+ include paying aay sums secured by a lien whicb has priority over this Security Instrumeat, appearing in court, paying _
<br /> '+ reasonable attomeys'fees and entering on the Property to make repairs.Although Le-•�..�Qr may take action under this Qarag�aph � ___�,_�����`;�'_�
<br /> ' �'. ( 7.Lender does not have to do so. h��"''' �
<br /> t Any amounu disbursed foy Lender under this paragraph 7 shal! 'bQCOme additional debt of Borrower secured by t h is 7 F �'.'
<br /> � t Security Instrument_ Unless Borrower and Lender agree to other terms of payment,these amounts�.�11 bear interest from the '"�
<br /> �: date of disbursement at the Note rate and shall be payable. with interest, upon notice from Len��s to Borrower requesting •:�;..��a�4u*,.•�
<br /> _ ' Q3}/t110t1t. .. �:r,'r.�w.�...c.•-�- .,
<br /> �'s '3.Mortgage Insurance.if Lznder required mortg���surance as a condition�f mahing the toa�secured 4�,Z'�is Securiry �•�•. :� •�;'�: _ .
<br /> ��- .
<br /> , ;�� Instrument. Borrotiver shall pay the premii:.-r.s required cc-:aintain t�:� �nortga�e ins:rance in efF�:. If. for any reason,the r' K„-�, • ,�,�';�• : •+4;-
<br /> mortgage insur�ae coverage required by[rn:::r lapses or ceases to C�e a,effect.Borrower shall pay:he preaniums reyuired to �.-�+.��;��"��
<br /> � .' obtain coverage::�bstantially equivatent to tae mortgage insurance pre:��asly in effect,at a cost substantially equivalent to the �""`—
<br /> � : cost to Borrower of the mortga�e insurance praviously in effect. from an altemate^ortgage insurer approved by Lender. If - `�'~ --�-� -
<br /> substantially equivalent mortgage insurance coverage is not available.Bonower sha:��y to Lender each montb a sum equal to �` *� .�
<br /> one-twelfth of the earl mort a e insurance remium bein aid b Borrower when the insurance covera e la sed or ceased to ,�;,���'�'a.'_
<br /> Y Y g S P 8 P Y 8 P =�,�+'��.,
<br /> , . be in effect. L.e�de3 rrili accept,use and retai�these payments as a loss reserve in lieu of mort�e insurance. Loss reserve -- -
<br /> Form 3028 9!5'3 ---�'"""""`t—+
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