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<br />. � . 9�' i0�444 =. : _���°�: �..
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<br /> 5. Hazard or Property insuranze. Borrower shall keeQ the improvement. now exi+ting or hereafter ererted on the ' • . ' �?
<br /> Property insured again�t loss by fire.hazards inctuded within the term "extenJed a��•erage" asui any other h:atarda. including , . .�"'
<br /> floixis or flooding,for which Lender requires insurance.This insurance�hall be m;iintained m the;unounn and far t6e periads , `.'=•� _ c� , �
<br /> ehat Lender rectuirc�. The insurance�arrier providing the insurance shall be chu�cn by Borro�cer,ubjc�t te� Lc�rtJer'�approcal . ,.
<br />�,��`" which shall not be unreasonabty withheld. If Borrower fails to maintain rovrragr d�rribc�l sbuae. L.ender may, at Le;ndcr's '-�-��-� -•� --
<br /> opiion,obtain coverage ta protett Lender's rights in the Propeny in accordance with paragraph 7- � � , '�4:�,-~� -
<br /> ' All insurance policies and rene�vals shall be acceptable to Lender and shall inelude a stanciard mongage ctause. l.ender � � _
<br /> :. �.,�,-- `.
<br /> shall have the right to hold the policies and renewals. If L.ender reqttires, Borrower shall promptly give to Lender all receipts of � __ , " �
<br /> .'` paid premiums and rene���al notices. In the event of loss,Borrower shall give prompt notice to the inswance carrier and Lender. --� -• - : .:,.,�;�;
<br />• . Lender may make proof of loss if not made prompdy by Borrower. <-�u;� •` _
<br />• Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the ' �. ���:��V J ,__
<br /> Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoeation or �i ,'
<br /> ..:�.:�:.
<br /> � •;��.,.
<br /> ' repair is not economically feasible or Lender's securiry would be lessened,the insurartce proceeds shall be applied to the sums . e'-rt_ �
<br /> ,, .. ._'. . -. ,
<br /> secu� by Ihis Security Inswment, whether or not then due, with any excess paid to Borrower. If Borrower abandons the � ;;.,,�:_":� '"
<br /> Property, or does not answer within 30 days a nouce from Lender that the insurance cartier has offered to settle a claim.then __- ••<.,-�-t , _
<br /> ' Lender may collect the insurance proeeecis. 7.�n3er may use the proceeds to repair or restore the Properry or to pay sums ,.,;;...=ti`�
<br /> � secured by this Security Instrument,wheiher or aot then due.1'he 30-day period will begin when the notice is given. .�:.-���.:;�.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shali Qe: extend or ��_': ..'�-•
<br /> postpone the dae��te of the monthly paymen[s referred to in paragraphs 1 and 2 or change the amount of the�}ments. If �_.,;,��,;��,,'���,;,;,;'..�,�,,,,,�-
<br /> under paragrap:�'1�ne Propeny is acquired by[.ender,Borrow•er's right to any insurance policies and proceeds res:iting from •����':°�'�"�3P -
<br /> damage to the E'rog�rty prior to the acquisition shall pass to Lender to the extent of the sums secured by this Securit� Instrument ����''��� .�, '�`'_
<br />_ , immediately prior to the acquisition. '•. `
<br /> ,. 6.�ccupancy,Preservation, Malntenance and Prot�t:an of the Property; Borrower's Loan Applicativa:iL�asedolds. '�';, �_,..�. �� �----_.__
<br /> Y-Cr ,
<br /> :." Borrower shall occupy,establis6,and use the Property as Barrower's principal residence within sixry days after th���ecution of .<<; _ � "�''�'K,''"�' �x
<br /> ;� this Security Instrument and shall continue to�ccupy the Property as Borrower's principal residence for at least one year after • �''.��
<br /> ....� ,.: : `���' ;
<br /> ;,,;y� the date of occupancy, unless Lender otherw�se�.ees in writing, w hic h consent s h a l l not be unreaso n a b ly wi t h he l d.or u n less � - - ,�l ,.•�''
<br />� ;�:. extenuating circumstances exist which are b:�c:�3 Borr�ker's control. Horrower shall not destroy, damage er Empair the ���``�,',� �, {�;
<br /> ,• ,', Property, allow the Property to deteriorate, or commit c,:,�-�e on the Property. Borrower shall be in default i;:.:;. forfeiture ' 'r�;,,,�, '� .-
<br /> � action or proceeding. whether civil or criminal,is begun•[h�t in Lender's goad faith judgment could result in fc��iture of the � `� ��
<br /> ' Property or otheruise materially impair the li:n created by this Securiry Instrument or Lender's securiry interest. Borrower may . . �,
<br /> � cure such a default and reinstate,as rovide�in h 18, b causin the action or roc;eedin to be dismissed with a rulin_ . ' `"' �'�
<br /> P P��►P Y � P S p ''::G� � .r� ,.
<br /> � that, in I.ender's ood faith determination, precludes forfeiture of [he Borrower's interest in the Proper[y or other materiai • :!:.�� '' '�
<br /> g .�•,�;n:. ,�. ""t�. •� -
<br /> -� impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also t� in default if �• a-, ��
<br /> , Borrower,during the loan application process,gave materially false or inaccurate information or statemenu to Lender(or failed
<br /> (i�•. i
<br /> to provide Lender with any material informationl in connection with the laan evidenced by the Note. including,but not limited . .. • ` '
<br /> - to,re resentatrons concemm Bocrower's occu an of the Yro rt as a nnc� al rescden�t.it mis Securi Instrument is on a ' �`�`}�
<br /> p $ P �Y Pe Y P P IY � .,�r�.�_
<br /> leasehold, Borrowe�� shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the �^�� 'ar -?!�.
<br /> ' leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. -`� �'-�-�---� ' �°'°-�
<br /> .. 7.ProtectEon of Lender's R�ghis in the Property.If Borrower fails to perform the covenants and agreements wntained in ___ __
<br /> ' this Secvrity Insuument,or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a ��;�Y;,;�;;,:M�
<br /> • proceeding in bar_�auptcy.probate, for condemnation or forfeiture or to�nforce laws or regulations).�.3ien Lender may do anc! -:--
<br /> ' pay for whatever is necessary to protect the v�lue of the Praperty and Lender's rights in the Properry. I.ender's actions may ��=-:�_, _"
<br /> �. include paying any sums secured by a lien which has prioriry over this Securiry Instrament, appearing in court, paying ��"""�� ' °`-
<br /> , reasonable atton�eys' fees and entering on the Property to make repairs.Atthough Lender may take action under this paragraph �"''"'�"'•'"�'"-�"''�
<br /> • 7. Lender does not have to do so. ��°�. :�
<br /> ,.++en,r.:=,�: . •.• : ,w.:.
<br /> . Any amour.0 disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this � � •. ,�..-__,
<br /> . Security Instrument. Unless Borrower and Lender agree to other tertns of payment,these amounts s�all bear interest from the :'°��:�,;
<br /> �°"�f!'r�r �:,';::�
<br /> . dat=of disbursement at the '��o:e rate and shall be payable. with interest, upon notice from [.ender to Borrower requesting ,';i. .� : � �
<br /> .. payment. _:�.�u _ -:
<br /> �..�.�
<br /> S.Mortgag4 Insurar.s�. If Lender required mortgage insurance as a condition of making the loan secured by tl�is Security �� ��
<br /> Instrument. Br.^co�ez shall �::J the premiums required to maintain the martgage insurance in effect. lf, for any reason, the �',:s:.'�.:.'•f,�.�__
<br /> � •�.; mortgage insur�:l:coverage::qaired by L.�n�er lapses or ceases to be in effect, Borrower shall pay the premiums required trn :Y','•.�
<br /> �,,�"`�. , ..��,�
<br /> ot�.`..^.coverage substantiai�} ef;uivalent to th�mortgage insurance prev�oasly in effect, at a cast substantially equivalent to t:`,e :y5�,,,,�,.��.�.�M,,
<br /> cc�st¢o Borrower of the moztgage insurance previously in effect. Prom an alter^�a!:mvrtgage insurer approved by Lender. [f �A�..s..�_.=••-- ,f;<__
<br /> substantially equivalent mongaae ensurance coverage is not available.Borrower shall pay to Lendcr cuch month a sum equal t;,;• "'°�'"`'`-*��'n`"-
<br /> ,; �•_- ._,...�_;:� '"..
<br /> '• :s;,; one-twelfth of tIie yearl}'mortgage insure:a�e hremium being paid by Borrower when the insurance ooverage lapsed or ceased to "``'�"a:.' "'''
<br /> • `�' be in effect.Le��,:r will acce t.use and re:ase�these a ments as a loss reserve in lieu of mortg e insurance. Loss reserve �'������'��� -
<br /> P D Y � ';x,,�'�'`"�°=—'-- �.
<br /> �....-_ -• —
<br /> ' Form 3028 8190 --.yc-tr.:��+r.• _
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<br /> . Pego 3 of 6 ��., � �
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