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<br /> S.HAr�rd ar Piraperty IneurAnce. 8orrowcr shnll kocp thc improvcmcnts now existing or hercufter crected on thc Propeny � �
<br /> insureA ngninst loss by Gre, he•riurds included within �he term "eatendeci coverage" and any other hFU.ards, including floods or
<br /> tlaoding,for whlch Lcrtder requires insurancc.This insurance shall bc maintaincd in the amounts and for thc periods that Lender
<br /> requires.'Iha insurance caMer providing the insurance shaU bc chosen by Sorrower subjcct to Lcnder's approval which shall not � ..
<br /> be unratissonably withheld. If Borrowcr fails to maintain coveragc described abovc, Lcnder may, at L.cnder's opuon, obtain I
<br /> covcragc ta pzotect Lcndcr's rights in thc Property in accordancc with paragraph 7. • -•-
<br /> AA h►surance pollcies and renewals shall be acceptable to Lender und shall include u standard mortgage clause.Lender shall ;
<br /> have the dght to hold tha policics and renewoLs. If Lcnder requires,Bonower shall prompdy give to Lendcr all reccipts of paid . f
<br /> Ipremiums and renewal notices.In the event of loss,Sorrower shall give prompt notice to the insurance carri�r and Lender.Lender _.�-•�
<br /> ' may mcikc proof of loss if not mad�c promptly by Borrowcr. -
<br /> •� Unlcss L.ender and Borrower othcrwisc agrc.c in wrlting.insurance procecds shall be applied w restoration or repair of thc ,��;��+
<br /> Property damaged,if the restoradon or rcpair is economically fcasible and Lender's seciuity is not lcssened. If thc restoration or '- �---
<br /> , repair is not cconomically feasible or L.ender's securlty would be lessened, the insurance proceeds shall be applled to tha sums ""�j� --
<br /> secured by this Securlty InsUUment,whether or not then due, with any excess pald to Borrower. If Borrower abandons the ' "-`
<br /> I'roperty,or docs not answcr within 30 days a noacc fmm Lcndcr that thc insurancc carricr has affcrcd to sculc a claim,thcn -
<br /> L.ender may coAect the insurance proceeds.L.ender may use the proceeds W repair or restore the Property or to pay sums secured
<br /> by this Securlry Instrument,whether or nat then due.The 30-day period will begin when the notice is given.
<br /> Unless I.ender and Borrower otherwise agree in writing,any applicadon of proceeds to principal shall not extend or postpone
<br /> the due date of the monthly payments referred to in paragraphs 1 end 2 or change the amount of the payments.If under paragraph
<br /> • 21 the Property is acquired by L.ender, Borrower's right to any insurance policies and proceeds resulting from damage to the
<br /> Property prior to the acquisition shail pass to Lender to the extent of the sums secured by this Security Instrument immediately �
<br /> �. prlor to ths acquisidon. ���
<br /> 6.Occupancy,Preservation,Maintenance and Protection ot the Property; Borrower's Loan Application;Leasedolds.
<br /> � Borrower shell occupy.establish,and use the Property as Borrower's princip�l residence within sixty days after the execution of .. �_
<br /> thLs Securiry Instrument and shell continue to occupy the Property as Bormwcr's principal residence for at least one year after the ,�:_:
<br /> � clstc ef r.rcugsnc„ unless I..�nder othcr::�e sgzeer in ��riting. ::�ttich conscsis °t:sl! not be unres°onabl; ::�ltlst:eld, or unless � ':S`�;� —
<br /> :� extenuating circumstances exist which are beyond Borruwer's conirol.Borrower shall not destroy,damage or impair the Property, ` •_
<br /> allow the Property to deteriorate, or commit waste on the Property. Borrower shall bv in default if any forfeidue action or I =-
<br /> �� p r o c e e d i n g,w h e t h e r c iv il o r c r i m i n a l,i s b e gu n t h a t in L e n d er's g o o d f a i t h ju dg m en t c ou l d r e s u l t in fo r fe i w r e o f t he P rope rt y or
<br /> � otherwise materlally impair thc lien created by�this Securiry Inswmcnt or L.cnder's security intcrest Bonower may cnre such a ___
<br /> � default and reinstate,as provided in paragraph 18, by causing the action or proceeding tn be dismissed wlth a ruling that,in :� _
<br /> L.ender's good faith determinadon.precludes forfciture of the Borrowcr's interest in thc Property or other material impairment of
<br /> the lIen createcl by this Securiry Instrument or Lender's security interesG Borrower shaU also be in default if Borrower,d�rIng the �� r `,
<br /> loan appllcadon process,gave materlelly false�r innccurate information or statements to Lender(or failed to provide Lender with
<br /> any material information) in connecfion with the loan evidenced by the Note, including, but not limited to, representadons "�'�'�"�
<br /> ec�nceming BorrowePs accupancy of the Property as a principal residence.If this Swurity Instrument is on a lrasehold,Borrower _� ';_
<br /> shall comply wIth all the provisions of the lease.If Borrower acquires fee dtle to the Property,the leasehold and the fce title shall -._�
<br /> � not merge unless Lender agrees ta the mergcr in writing. ;�,�;o
<br /> + 7.Protection of Lender's Rights in the Property. If Borrower faiLs to perform the covcnants and agreements contained in ,F��=��- —
<br /> � this Security Inswment,or thcre is a Icgal procecding that may sign�candy affect Lendcr's rights in the Property (such as a $'`F`��•�-�-
<br /> � proceeding in bankruptcy,probate,for condemnation or fodeiture or to enforce laws or regulations),then Lender may do and pay • :���'�`?;_;-
<br /> 1 for whau:ver is necessary to protect the value of the Property and Lender's rights in the Property.Lender's acdons may include °��'"="'
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<br /> � paying any sums secured by a lien which has prioriry ove: this Security Instrument, appearing in court, paying rcasonable :�,�L �_�
<br /> atiomeys'fces and entering on the Property ta makc repairs. Al�hough Lendcr may take acdon undcr this paragraph 7,Lcnder -
<br /> •.•��1�Snv��rr..��
<br /> s does not 6ave W do so. ,:�-�
<br /> � M amounts disbursed b I.ender under this ara •��'4 f.�'�""�
<br /> , y y p graph 7 shall become addi�onal debt of Borrower secured by this Security ��
<br /> i InswmenG Unless aorrower and x.ender agrec to other tcrms of payment, ihcse amounts shall bcar interest from thc datc of _ , � `�°`
<br /> { disbursement at the Note rate and shall bc payablc,with intcrest,upon notice fmm L.cndcr to Borrower requcsting paymen� ' '� •
<br /> S.Mortgege Insurance. If Lender required mortgage insurance as a condidon of making the loan secured by this Securiry
<br /> - ! Instrument, Borrowcr shap pay the premiums rcquired to maintain thc mortgagc insurance in effecG If, for any reason, thc �
<br /> i mortgagc insurance coverage rcquimd by L.ender lapses or ceases to be in effect, Borrower shall pay the premiums�equired to � •
<br /> _ � obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the •
<br /> ' cost to Borrowcr of the mortgage insurance previously in effect, from an altcrnatc mongagc insurer approvcd by L.cnder. If „
<br /> - subslantially cquivalcnt mortgagc insuracicc covcragc is not availablc,�3orrowcr shall pay to Lcndcr cach monih a sum cqual to
<br />-_ one-twelfth of the ycarly mongage insuranee premium being paid by Borrower when tt►e insurance coverage lapsed or ceased to I .
<br /> _ be in effecG Lender will accept, use and retnin these paymentc s�.s a loss reserve in lieu of morigage insurance. Loss reserve
<br /> • Form 3028 9i90 r
<br />- �-8R(NE)cs2+2�.0+ Pape 70�e inivau: �
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