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<br /> ' 98-:l(j�D908 �����..��_�:��..
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<br /> 5. Hcu.urd or Property Insueance. Borrower shall kcep the improvements now existing or hereafter crected on thc �:,..;,,,i
<br /> Propeny insured against luss by fire, hazards included within the term "extended coverage" and any other hazards, including —
<br /> floods or flooding,for which L.endcr requires insurance. This insur.lnce shall be maintained in the amounts and for[he periods _.
<br /> that Lsnder requires. The insurance carrier providing the insurance shall be chosen by Barrower subjec[ to l.ender's approval
<br /> which shall not be unreasonably withheld. if Bonower fails to maintain coverage described above, i.ender may, at Lender's _;.+1 a
<br /> aption,obtain coverage to protect 1.ender's rights in the Yropeny in accordance with paragraph 7. _
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender
<br /> shall have the right to hold the policies and renewals. If Lcnder rcquires, Borrawer shall promptly give to Lender all receip[s of � r.
<br /> paid premiums and renewal notices. In the event of loss,Borrower shall give prompt natice to the insurance carrier and Lender. �. _ ., .,:�':, �,
<br /> - • Lender may make proof of loss if not made promptly by Borrower. "'�;..�1:.. -`t '
<br /> Y�� � . Unless Lender and Bonower otherwise agree in writing, insurance proceeds shall be applied ta restoration or repair of the ,_t^, .�.;a1;h^;�^ -
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<br /> Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. lf the restoration or '�•" .a,�,.,
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<br /> repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums ;;;_.4.��N: _ y?i�p
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<br /> secured by chis Security Instrument. whether or not then duc, with any excess paid ta Borrower. If Borrower abandons the .�.A-;�y,y�_____—
<br /> � Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then �,� --
<br /> . L.ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or[o pay sums �'r--
<br /> secured by this Security Instrument, whather or not then due.The 30-day period will begin when the notice is given. ��;_�_
<br /> Unless Lender and Borro•HCr othe:wise agree in writing, any application of proceeds to principal shall not extend or y;:=4:
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<br /> . � postpone the due date of the monthly payments refened to in pazagraphs 1 and 2 or change the amaunt of the payments. If �,�,�,_
<br /> under paraFrnph 2l the Properry is acquired by Lender, Banower's r[ght to any insurance policics und proceeds resulting from ��
<br /> damage to the Propeny priar to the acquisltian shall pass to Lender to the exlent of the sums sccured by this Security Instniment �£_-.�
<br /> � � immedlatcly priur to thc acquisidon. �'r_'�__'°"
<br /> , 6.Occupuncy, Pr�servation,Malntenance and Protcction of the Prupeny; Borrower's I.oan Appl[cadon;Leaseholdg. ��'
<br /> Bottawer shull accupy,establish,and use tlie Property as Boi7ower's E�rincipal residence within slxry days after the execution of �_,�:';
<br /> � this Security Instrument and shull continue to occupy the Propeny as Barrower's principal residence for at least one year after ��
<br /> the date of occu�vicy,unless Lender otherwise agrees in writing,which cunsent shall not be unreasonably wlthheld,ar unless ��,-
<br /> extenuating circumstances exise which are beyond Borrower's control. Borrower shall not destroy, damage or lmpair the ��x
<br /> �• Property, allow the Property to detcrioratc, or commit waste on the Property. Burrower shall he in default if any forfeiture ; 1...
<br /> actiun ar proceeding, whether civil or criminal,is begun that in Lendcr's good faith judgment could result in forfeiture of the ,`'?_
<br /> � �: Property or othenvise materially impair tlie lien created by this Securiey Instrument or I.ender's security interest.Bonower raay ;._,:
<br /> _ � cure such a default and reinstace,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling ��-;
<br /> that, in Lender's good faith determipauon, preciudes i'orfcitu►c �f tt�e i3:.rrowcr's inierest in the PrQperry �r nther material ..�:•
<br /> . ` impairment of thc lien created by this Security Instrumen[ or Lender's security interest. Bonower shall also be in default if ��,
<br /> ' Borrower,during the loan application process, gave materially false or inaccuTate informatton or statements to Lender(or failed q�_,
<br /> �� ; to provide Lender with any material information)in connection wich the loan evidenced by the Note,including,but not limited
<br /> i to,representations concerning Borrower's occupancy of the Propeny as a principal residence. If this Securiry Instrument is on a ��,,
<br /> � leasehold, Borrower shall comply with ail the provisions of che lease. If Borrower acquires fee title to tlie Property, che 1��
<br /> � leasehold and the fee tide shall not merge unless Lender agrees to the merger in writing. ��
<br /> R 7.Protection of Lender's Rights in the Property.If Bonower fails to perform the covenants and agreements contained in i•
<br /> �'� this Security Instrument, or there is a legal praceeding that may significantly affect Lender's rights in the Property (such as a � _
<br /> proceeding in bankruptcy,probate. for condemnation or forfeiture or to enforce laws ur regulations), then I.ender may do and
<br /> �' puy for whacever is necessary to protect the value of the Propeny and Lender's rights in the Property. L.ender's actions may —
<br /> �, include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> . a reasonable attorneys'fees and entering on the Property to make repairs. Although Lender may take action under this pazagraph
<br /> . � 7,Lender dces not have to do so.
<br /> ' Any amounts disbursed by I.ender under this pazagraph 7 shall bec�me additional debt of Borrower secured by this
<br /> � , Security Instrument. Unless Borrower and Lender agree to other terms of p�yment, these amaunts shall bear interest from the —
<br /> � date of disburscment at the Notc rate and shall be payable, with interest, upon notice from L.ender to Borrower requesting
<br /> �, payment. —'r""'""�""�
<br /> 8.Mortgege Insuranee. If L.�nder required mortgage insurance as a condition of making the loan secured by this Security
<br />- = Instniment, Sortower shall pay the prcmiums required to maintain the mortgage insurance in effect. If, for any reason, the —
<br />' , mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borcower shall pay the premiums required to 'r.�;
<br />- obtain coverage substanrially equivalent to the mongage insurance previously in effect,at a cost substantially equivalent to the . `� �
<br /> � cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If .,'?��'�°'
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<br /> substantially equivalent mortgage insurance coverage is not availabic, Borrower shalt pay to Lender each month a sum equal to •� �;,. � ,:
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to ,�_ .._;� �N �
<br /> be in effect. Lender will accept,use and retain these payments as a loss TCSCNB Ill lieu of mortgage insurance. Loss reserve :;.�;��.
<br />— Form 3028 9/ 0 . :`•
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