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<br /> ;. •'. . 5, Ha�d or F9�perty Insu� Borrower shall keep the improvements�existing or hec�eafter ere�ed on the � . �
<br /> �:". � � '� Property insured against[oss by fire, haaards included within the term"extetuLed coverage" and any other hazards.inctuding ~ . .
<br /> ' �_. ., ;. '
<br />_ ,. flaods or flooding, for wtuch Lender requires insurance.This insurance shall 6e maintained in the amounu and for the periads ,:'`r `
<br /> _ -,='�:;,- � that Lender rec{uires.The insurance carrier providing the iasucance shall be chosen by Borrower subject to Lender's approval . _ �.- `::�-.:�Y
<br /> '` -'4`� wtdch shali not be unreasonabt}+ withhefd. ff Bomawer faiLs to maintain coaerage described above, Lender may. at Leader's _ , �_.
<br /> � option,obtain coverage to protect Leader's rights in the Property in accordance with paragraph 7-
<br /> • . : AU insvrance policies and renewals shall be aoceptable to Lender and shail include a standard mortgage clause. Lender
<br /> �_;" '_ sfiap have the right to hold t6e policies and renewals.ff I.eader requires.Borrower shal!prompdy give to Lender all mceipts of . � ;,�..` .
<br />�.: ,
<br />��-,-•. �--:'� -'- paid premiams and renewal aotices.In the event of loss.Borrower sl�all give prompt notioe to the insuraace carrier and Lender. ,.
<br /> . . �,•-: . .
<br /> " _ �� :; �,-:: Lender may make proof of loss if not made prompdy by Borrower. �� �;� ,
<br /> _� ; ,
<br /> �. Unless Lender and Borrower otherwise agree in writing.insurance proceect�shall be applied to restoratian or repair of the `• �
<br /> ,� Property damaged,if the restoration or repair is economically feasibte and Lender's sectuity is nat lessened.If the restosation or � ,�,_ __
<br /> �:` � � , repair is not economtcally feasible or I.ender's security would be lessened,the insurance proceeds shall be applied to the sums - ..�_�-_.
<br /> 5-��_ ` .'�. secured by this Security Instrumeirt. whether or not then due. with any excess paid w Borrower. If Borrower abandons the ,. �. ::: .;:'
<br /> ��' �`�`�� � Pro or does nat answer within 30 da s a notice from Lender that the insurance carrier has offered to settie a claim,then ' �''-"�
<br /> �:< : ° ��r. y
<br /> ,-;�. . ' Lender may collect the inswance praceeds. Lender may nse the proceeds to repair or rescore the Property ar to pay sums . _
<br /> - . secuied by this Security Inswment.wheiher or not then due.The 30-day pereod will begin when the aotice is given.
<br /> ��� � � Unless Lender and Borrower ochenvise agree in writing, any application of procceds to principal shaU not eatend or =—-
<br /> �•r' �, ',: ., postpoae tt�e due date of the monthly payments referned to in pacagraphs 1 and 2 or cfiange[he amount of the paymenu. If ��� ;;�.;-_.��`
<br /> _ • e _
<br /> -- - ander paragraph 21 the Property is acquired by[.ender. Borrower's right to any insurance palicies and proceeds resulting fmm .,__
<br /> ' "t;� damage to the Property prior w the acquisition sfiall pass to Lender to the extent of the sums secured by this SECarity Instnimenf
<br /> i�a.
<br /> �;' ' ' � immediately prior to the acquisiuon. :..q�:r-
<br /> %' � � Maintenance and Protea�ton of the Property Borrower's Loan Appl�cation;I,easeholds. ,,:. '. . r•.�...;.:�r_
<br /> -_- _ .. _ .`:� : 6.Oocupancy.Pre�ervat�on, .
<br /> :• tz�.-.•��--
<br /> _ __ _. __ Borrowe;shatl occupy.establish.and use We Property as Borrower's principa!residence within sixry days after the execution of �•�r.:: ��: ,u__._
<br /> .,` . � .r.. :
<br /> ����'� ' , this Security Insuument and shall cantinue to occupy the Property as Borrower s plincipal residence for at least one year afcer .. �:�__�.-..
<br /> �` ; the date of occvpancy,unless Lender otherwise agrces in writing, which consent sl�all not be unreasonably withheld.or unless .. � : _,�_
<br /> ,.�`, � � ., . ,�.:��_
<br /> s•.. - . . extenuating circumstances exist which are beyond Boaower's control. Borrower shall not destroy. damage or impair the ..x=
<br /> � " . " Property,aflow the Property to d�eriorate, or commit waste on the Property. Bonower shall be in default if any forfeiture ;`-,_:.
<br /> � � , . action or proceeding.whether civil or criminal,is begun that in Lender s goad faith judgment could result in forfeiture of the � ���
<br /> . Property or otherwise materially impair the lien created by this Security Inswment or[.ender's security interest. Borrower may ' �-. -
<br /> . �. � :.-�__
<br /> <`�-". � ' cure such a default and reinstate,as provided in paragraph I8,by causing the action ar praceeding to be dismissed wiW a mling -;:• _r--'==
<br /> _�:..
<br /> �� � . that. in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material :'� '� '�Y=`
<br /> t�.. . '�',�r-
<br /> �': -�--== •.- impaimnent o€the lien created by this Securiry Instrument or L.ender's security interest. Boaower shall also be in default if . , �
<br /> � - . Borrower,during the loan application pracess,gave materially false or inaccurate informatian or statemenu to Lender(or failed _�
<br /> � '. � to provide I.ender with any material information)in connection with the loan evidenced by the Note,including.but not iimited . =r =-
<br /> • ' � to.representations conceming Borrower's occupancy of the Property as a principal residence.If this Security Inmument is on a . ��° " •p,
<br /> • , .�..�,�� . � leasehotd. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Propeny, the ' �...�; :�••,' '�'
<br /> � ' ' leasehold and the fee tide shall not merge unless Lender agrees to the merger in writing. :"� " -
<br /> �::: � 7.Proter.tion of Lender's Rtghts in the Proptrty.If Borrower fails to perform the covenants and agneements contained in . . __
<br /> ;� , • � . � this Security Instrument, or there is a legal proceeding that may significantly affect Lender's righu in the Property(such as a -__
<br />; ' � ' proceeding in bankruptcy,probate, for wndemnation or focfeiture or ta enforce laws or regWations),then I.ender may do and =_:
<br /> �i � ' ' pay for whatever is necessary to protect the vatue of the Property and Lender's ri�hts in thc Property. L.ender s actions may � - '
<br /> � � ' s �� include paying any sums secured by a lien which has priority over this Security Inswment. appearing in court. paying :�'"': �� �
<br /> �,�.•�• � • reaconable attomeys'fees and entering on the Property to make repairs.Althoug(�Lender may take action under this paragraph ° .. • _
<br /> � ; , • � 7.Lender does not have[o do so. . •
<br />:�;•., . . .�. ' Any amounts disbursed by Lender under this paragraph 7 shall become addiuonal debt of Borrower secured by this ._ ,••
<br /> '�� �. • Security Instrnment. Untess Borrower and Lender a�ree to other termY of payment,these amounts shaU bear interest from the
<br /> �;��•' � date of disbursement at the Nate rate and shall be payable, with interest, upon notice from Lender to Borrower reqarsting , - . :
<br /> . :'',:.,•.
<br /> ; � � - payment. • . ` .. .
<br /> �1; S.Mortgage lnsuranee.If Lender required mortgage insurance as a condition of making the loan secured by this Security . ..
<br /> ° Instrument, Borrower shall pay the premivms required to maintain the mortgage insurance in effect. If, for any reason, the ,
<br /> '�. .� , . mortgage insurance caverage required by Lender lapses or ceases to be in effect.Borrower shall pay the premiums required to '
<br /> � obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a wst substantially equivalent to the •• ' .
<br /> � cost to Borrower of the mortgage insarance previously in effect. from an altemate mortgage insurer approved by Lender. If
<br /> � substantia0y equivaleni mortgage insurance wverage is not available.Borrower shall pay to Lender each month a sum equal to ::
<br /> • � orte-tweifth of the ycarty mortgage insurance premium being paid by Barrower when the insurance coverage lapsed or ceased to , ~
<br /> • , be in effect.Lender wil!accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve . ' . _ ..,
<br /> ' �.�, Form 3028 9190 .. �.
<br /> i � , • � - Pago 3 of 6 .. � - . - � .
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