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<br /> S.Hazard ar Praperty InsurAnce. Bonowcr shrJl kcep U�c improvcmen�s naw exisdng on c�rcafter crectcd an c � y •
<br /> � • insurcd ageinst loss by fire, har.tuds includcd within the tern�"extcndcd coveruge" and any othcr haaards, including tlooc�s or • `
<br /> floading,for which Lender require.�insurance.This insurance shall be maintained in the�maunts and for U�e periods that L.ender
<br /> ' requires.The insurance carrier providing ihe insurance shall be chasen by Eiott�wer subject to L.ender's approval which shall not =,
<br /> bc unrcasannbly withhcld. lf Borrowcr fails to m�tirttain covcragc dc.scribcd abovc, Lcndcr may. nt Lcndcr's aptian, obtnin � _
<br /> � covcrngc to protat I.cndet's righ�v in ihc Praperty in accorclancc wi�h paragraph 7.
<br /> j All insurance policies und renewuls shull be acceptable to l.ender and shull include n stundArd mc,ngnge cluuse.l.ender shall ,
<br /> " have the right to hald the policies tu►d renewnls. If I..ender requxres, Borrower shall pmmptly give to I.cnder all receipls af paid
<br /> { prciniums und ccncwal noucc.r•.!n thc cvcnt of loss,A�rrowcr sh�ll givc prom}x noGce to thc insurancc curricr nnd l.cndcr.Lcndcr �
<br /> ; muy makc praaf af loss if nat mudc pmmpAy by Barrowcr. �
<br /> ! Unlesx Lcndcr und Borrawer othcnvisc ugrce in wriang,insurance procceds shall be upplicd to restorntion ar rcpuir of thc
<br /> � Praperty dsunagcd, if thc restorution ar rcpair is economicully fes�sible and L.cndcr's sccurity is not lessencd. If thc restoration or
<br /> ' repair is not economically leasible or I..ender's securiry would be lessened. the insurance praceeds shall be applied to tha sums
<br /> ; secured by ihis Sccuriry Insuumcnt, whethcr or not thcn duc, with any excess paid to Bonowcr. If Borrowcr ubandons the
<br /> Property,or docs not answer within 30 days a nouce from Lcnder that the insurance carrier has offered to settle a cluim. then ,
<br /> Lcndcr may c�llcct thc insurance procccds.I.cnder may use thc praceeds co repair or restorc the Properiy or to pay sums sccurcd • :'������
<br /> by this Security Instrument,whethcr ur not then due.The 30-day peric.d will begin when the nouce is siven. ,••�`?L���•'
<br /> �, Unlass Lender and Borrower othenvise agrec in writing.any applicadon of proaeeds to principal shall not extend or postpone �_�
<br /> thc due datc of�he monthly paymr,nts refcrrcd to in paragrapBs 1 and 2 or changc the amount of thc payments•If undcr paragraph �.�s J
<br /> , 21 thc Property is acqu'ucd by Lcndcr, Bonowcr's right to any insurancc policics and procceds resulung !rom dnmagc to thc
<br /> . Property pdor w thc ac;quisition shall pass to Lendcr to the cxtent of thc sums sccured by this Security Instrumcnt immcdiately
<br /> � I prior w thc acquisiuon.
<br /> c 1 6.Occupancy,Preservattan,Maintenance and Protection otthe Property; Borrower's Y.oan Application;Leaseholds.
<br /> i Borrowcr shall occupy.establish,and usc the Property as Bortower's principal residencc within sixty days aftcr the cxeculion of . ,
<br /> i { this Seci�riry Instrument and shall continue to occupy the Property as Borrowcr's principal residencc for at lcast onc year aficr thc
<br /> date of occupancy. unless Lender otherwise agrees in writing.which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstanees exist which are beyond Borrower's control.Borrower shall not destroy,damage or impair the Property,
<br /> ,� ,, allow the Properry to deteriorate, or commit waste on the Property.Borrower shall be in default if any forfeiture action or s
<br /> �•: i procecding,whether civil or criminal,is begun that in I.ender's good faith judgment could result in forfciture of the Property or
<br /> :� otherwise materially impair the lien created by this Security Instrument or Lcnder's security interes�Borrower may cure such a
<br /> � defuult and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that,in
<br /> ` Lendcr's good taith dctermination,precludes forfciturc of thc Bortower's intcrest in thc Property or other material impainncnt of •.,!_
<br /> � the iien created by �his Su:urity li�sUument ar L.�ndcr's security inter�t 9orso�cr sliall elso b!' in�i�fnutt if Borrower.during the
<br /> �° loan application process,gave materially faLse or inaccurate intormation or statements to Lender(or failed to provide Lender with '''
<br /> � an material information) in connection with the loan evidenecd by the Nate, including,but not limited to, representadons ` '
<br /> y ����,
<br /> ' coneeming Sottower's accupancy of the Piropeny as a principal msidenee.If this Security Instrument is on a leasehold,Borrower �• r;'
<br /> � shall comply wilh all the provisions of the lease.If Borrower acyuires fce tidc to the Property,thc leasehold and the fee dtle shall �
<br /> .
<br /> { not merge unless Lender agrees to the merger in writing. �
<br /> 7.Protection ot Lender's Rights in the Prop:rty. If Borrowe� feils to per[orm the covenants and egrecmcnts contained in '�'
<br /> � this Security Instrument,ar there is a legal proceeciing that may significanQy affect Lender's rights in the Property (such as a � . :..
<br /> �I proceeding in benkruptcy,probate,for condemnarion or forfeiture or w enforce laws or regulations).then Lender may do and pay �71?*.
<br /> d for whatevcr is necessary co protect the value of thc Property and L.cndcr's rights in tl�c Property. L.enckr's actions may include �"�__
<br /> paying any sums secured by a lien which has prioriry over this Security Instrument, appearing in court,paying reas4nnble ,;,:: ---
<br /> attomeys' fecs and cnLCring�n the Property to make rcpairs,Allhough Lendcr may takc acdon under this paragraph 7,Lendcr '�+ ' ;
<br /> docs not havc w do so.
<br /> My amounts disburscd by Lcndcr undcr this paragraph 7 sfiall bccomc adciiuonal dcbt of Borrowcr sccured by this Sccurity �:��
<br /> InswmenG Unlcss Borrowcr and I.cndcr agrcc to ather tcrtns of paymcnt,thcsc amounts shall bcar interest fmm the date of ::.�;�.. ._
<br /> - disbursemcnt ut the Noic ratc and shall be payablc,with interest, upon nodcc from Lcnder to Borrower requesting paymenG '� ;;,+•�`�" n
<br /> 8.Mort�age�nsurance. If Lender required mnrtgage insurence as a condidon of making the loan secured by this Security `�����''
<br /> t � ��'�``�`
<br /> Instrument, Borrowcr shall pay the prcmiums rcquircd to maintain the mortgage insurance in effect.If,for any reason,thc •.••.,�,,,��_�,
<br /> mortgnge insurence coverage requim,cl by Lender lapses or ceases to be in effect, Bonower shall pay the premiums required to -`°.�
<br /> obtain coverage substantially eyuivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the :�:�`��'`
<br /> cost to Borrowec of the mnrtgage insurance previously in effat, from an altemate mortgage insurer epproved by L.ender. If `�;:�`7'� �"
<br /> substandally equivalent mortgage insurance covemge is not available,Borrower shall pay to Lender each month a sum equal to � �'""
<br /> one-twelfth of the yearly mortguge insurancc prcmium being paid by Borrowcr when thc insurancc covcrage lapsed or ceascti to � •�, •
<br /> bc in effec� Lcndcr will accept, usc and retain thesc paymcnu as a loss resecvc in lieu of mongagc insurnnce. L.oss rescrvc � .
<br />— Form 3028 9100 I
<br /> � �•8R(NE)IOt�21.o� Page�ot 8 inwai►: j
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