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<br /> . f- . 37.. 1���9 .. . ` . :- . ...-Ta-
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<br /> 5. Hazac+i or Property Em�ace. Borrower shall keep the improvements now existiug or hereafter erected on the , ; , -- -. -_ -
<br /> , Froperty insured against loss by fue, ha�ards included within the term°exeended coverage" and any otlner hazards, including , . � , .. -
<br /> floods or flooding, for which Lender rcquires�n�,*ance. This;n�,*ance shall be maintained in the amounts and for the periods , - �
<br /> �� ihat L.ender requires.The insurance carrier providing the �n��*�nce shall be c�osen by Borrower subject to Lender's appruva! ' . ';�� '�
<br /> which shall not be unreasonably withheld. If Borrower fails to maintain ooverage descn'bed above. L.ender may, at L.ender's '- •
<br />�- _ option,obrain coverage[o pmtect Lender's righu in the Property in accordance with paragraph 7. ` -- -:_ �` c�_'�,_
<br /> � All �*+��*a�policies and renewals shall be acceptable to Lender and shall inclade a standard mortgage clause. Lender __
<br /> . shall have the right to hold the policies and renewals.If Lender requires,Borrower shall pmmpdy give to Lender all receipis of ' - ::«�;�Y.�
<br />. . paid premiums aud reneAra]notices.In the event of!oss,Iiotrower shall give pmmpt aotice to the insurance carrier and I.ender. ,. _ .
<br /> LendEr may make pmof of loss if noc made promg�3•by Bormwer. _.. . .. . . �:. �- �
<br /> Unlzss i�nder and Borrower other�vise��uriting,msarance proceeds shaU be applied to restoration or repair of the . . � �-•-+;�=,:.:,. `
<br /> Property daa�aged,if the reswration o*��is��cally feas�ble and Lender's security is not lessened.If the restorarion or ,: " � _�;;�,.�:'
<br /> . xepair is not eoonomically feasi'ble or L�:�s's s�:would be lessened,the insurance proceeds shall tae applied w the sums ...�. , .°:.`�rv�'�'�;�=',-
<br /> �� �2cuTed by tllis SeCUrity �nst^iment,�,�r c*�c`en due, �vith any excess gaid to Borrower. If Borrov�er ahandans the :� .}.. '•,�:_�,,:;�.,�
<br /> ,. .:. Properry,or does nat answer within 3�c�s a nc�»from I.eader that the;n�„�-R�carrier has offered to settle a claim, then ,.:t, r,•-.. .,�:,:;', ,' , �
<br /> .;�J; Lender may wllect the insuianc�p�. Lendec may use the proceeds w repair or se.store the Property or to pay sums � � '��"�`�`,,.-;�,a:-;
<br /> %�;�� se�uned by this Security+Instrument,R:.a�r or net t�en due.The 30-day period will begin wben the notice is given. . :,���;� ..���
<br /> ,�;�,�k?E'� Unless I.ender and Borrower oL:.�rwise ag+ee�writing, an3+ aPPllcation of pmceeds to principal sball not extead or �,.�;,,..-''.:" ��;�°„'�;..�,`;f".;�:.:
<br /> postpone the due date of the monthly paymeats�f�.r�i to in pazagtapLs 1 anz 2 or change the amowrt e. .,�e payments. If ..-?�.f 5 :,� - �+ :.. ,�� .
<br /> � � uader paragraph 21 the Pzc.*�erty is ac�ined by Len�,?dorrower's�ight to�;insurancc policies ansl pr�s resulting from .;�'4,.. � `: s;t �;,i�,.,s.,::;:
<br /> ' :s.,�,���..:�,.��.��„
<br /> ;=;(,��. damage to tha Pmperty prior tn the a�*:�tian shall pass to Lende�r�:he sxtent af the sums sec�ued by this Sa.�urity in��=rt . . -r... ----.
<br /> ,ut• h- .:,�.yr.,�•-�
<br /> '�f°- � immediately prior to the acquisidon. `:� ., .`h,t -_
<br /> �:%�'' ;:k,::•�.:
<br /> � 6.Occupancy,A�eseas�en,b?�..�Ye�suce an�Pr�tedion of t�e Property,Bormwer's Loan AppIIcation;Lmse��ds. i:, •.�,'��; :';, ; -�.�-'
<br /> �� 3orrowe�r shall �.*}:�,and asc the Pro as Borrower's ruici al rzsidence within s' s after the execation of -i:� • _ : ,:.,s. . _
<br /> �Y. PertY P� P �Y�Y �,; : i ' ;."
<br /> . this Seauity Instrument�s�aT�coc�nue to accupy the Property as Bonower's principal residence for ai least one year afi�r • ' ` . �;,~,.'',,
<br /> • - the date of occupancy.unless Le�d��ti:ernise agrees in writing,w}uch consent shall not be unreasonably witflheld,or uaaL�ss - ''`�.''"^�-
<br /> e
<br /> � euenuating circumstan¢ee� exist w��x are beyond Borrower's control. Borrower shall uot destroy, damage or impae the ,��;�:•E : ���
<br /> Proparty, ailow the Property to deteriorate.or oommit waste on the Property. Borrower shall be in defanit if any forF�ure ';`:l;' ., �._�;;
<br /> action or proceeding,whether civll or criminal,is begun that in Lender's gaod faith judgsaent conld result m forfeinue of the `
<br /> �,��;� -
<br /> ..;,, !, PropenY or otherarise materially impair the lien ctearr�'by this Security Iasuum�t or Lender's securiry inter�st.Borrower may �;:.:�s . :;�`.-
<br /> �,.;��t �..:—.,;
<br /> ' cure suc]�a default and reinstaze.as pmvidal ia par�18,b�cavsing the ac�ion or pmceeding w be dismissed with a ruling . ,.�.•:; �•:
<br /> ;�l;' , ,:-�., , ., ;, .,,r.
<br /> �•` '° tbat, in Letder's good faith determ�nan, Preclades forfeitw-e of the Borrower's interest in the Property or other mterial
<br /> �'h.�`}� •:�i.:!f; ".'�.�-_r
<br /> impairment of the lien created by th�s�ecx�rity Insnum.ent or l.ender's securtty inte�st.Bonower shall also be in default if `�
<br /> ::� :.�,;•��:,;
<br /> _�..f � Borrower,8nting the loan applic�aslon process,gave materially false or inaccurate information or statements W Lender(or failed ���:�_�:.:
<br /> � w provide Lender with any materiai informarion)in cannection with the loan evidenced by the Note,including,but not limitet! � �;`'r �
<br /> ;` , �>�.,;
<br /> � '• w,rcPresenrations cflnceming Borrower's axupancy of the Prop�rty as a piincIpal residence. If this Security Insuument is on a .:., ` °
<br /> .��-�-
<br /> ;,r;i;�"' leas e h o l d, Bo a o w e r s h a ll c omp ly w i t h a U t h e p ro v l s i o n s o f t h e l e a s e. I f B o r r o w e r acquires f e e t i i l e w t h e P r operty, t h e •;; ' - ,':
<br /> '`;r" `� leasehold and the fee afle shall not merge untess Lender agtees to the merger in wridng. `�.,-:%�: ,:•a�
<br /> ,.�` �..�
<br /> :�=y:�.;. �.: .-t sF�;,,.- .
<br /> . � 7.ProtecNon of Leader's Rights tn thE Properiy.If Borrower fails to perform the covenaats and agreements contained in _�ir^��•�••'.�;,r�
<br /> thls Security Instrument, or there is a legal pmce�eding that may significandy affect E.ender's dghts in ths Ptoyerty(such as a +i�_.
<br /> ` prooeeding 9a baataaptcy,pmbate,for condemaation or forfeiture or to enforce laws oz reguladons).then Lcnder may do and _'�� '���.
<br /> _.�• pay for whatever is necessary to protect the value of the Property and Lender's rights ln the Property. I.ender's actions may ___
<br /> .._ include payinS an3+ sams secured by a lIen which has priority over this Securiry ]nsuument, apgearing in court. PaYm� -° .
<br /> ,'{ n�sonable attomeyrs'fees and entering oa the Property to make repairs.Although Lender may take actioa uader this paragraph ' �
<br /> � 7.Lender does not have to do so. ` _ ,,.w..
<br /> An amaunts disbursed by Lender under this ara h 7 shaU become additional debt of Borroaer secured b this �'�
<br /> Y P 8mP Y .��-�=����
<br /> ' Sewriry Instcumen�Unless Borrower and Lender agree to other terms of payment.these amounts shall bear interest from the "'�==�:��"�"�'=
<br /> `` � date of disbursement at the Note run_ and shall be payable, arith interest. upon notice from Lender to Borrower requesdng �=`�°""'"'—= -- —
<br /> ,�°
<br /> payment, s. - . `�.�.
<br /> •_��..�
<br /> 8.Mortgage Ins�sr,mc�e.If Lender required mortgage insurance as a condidon of making the toan secured by this Secudry+ --------- - - -
<br />: . instr�+++�*�t, Borcower sh�3 pay thc premiums required to maintaia the mortgage insurance in effect. If, for any reason. the � ...:��.r''
<br /> mortgage insurance coverage requiced by Lender lapses or ceases to be in effect,Borrowor sball pay the premiums required to ----
<br /> ��:}'�,.:.�.� .rs �
<br /> • obtain coverage substantialiy equivalent to the mo�tgage insurance pnviously in effect, at a cost substantially equivalent to t�e �,.,,•.- .
<br /> `'��� -�=•::..3_. :
<br /> " cost to Barmwer of the mortgage lnsurance previously in effect.from an altemate mortgage lnsurer approved by Leader. If - �
<br />, . . substantially equivalent�eoitgage insurance coverage is not available,Borrower shall pay to Lender each month a stfin equal to ��'•' � -
<br /> Y � g P g P � Y �€=�P ""�'�e`°•�a`-�_.
<br /> . one-melfth of the eae;,�ort a e insurance remium hein a�d b Borrower when the insurance cove sed or ceased to ' �'� �
<br /> •-.�c��1;,.:��;.
<br /> i: � be in effect.Lender will accept,use aad retain these payments as a loss reserve in lieu of mortgage i���.�„ce. Loss reseiv . .. . , ��_
<br /> ,;,.. <,,..,.,�.-.,__, -
<br /> •Y::f.�: _ ,� , ,
<br /> ,,. Form 30 ^x��i,`�,. ,.. �
<br /> . - ��RINE1�ss�2�.o� va�a o+e wnmr. � � {• .
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