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<br /> S.HAZard or Property Insurance. Sanowcr shall kecp thc improvcmcnts now cxispng on c�rcaftcr crcctcd on the�opc�ir y
<br /> insurcd against loss by Cuc, haxards included within thc tcrm "extendcd covcragc" and any othcr hazards, including floods ar
<br /> tlooding,for which Lendcr rcquires insurnncc."It�is insurancc shall bc maintained in thc amounts and for thc periods that l.ender
<br /> requires.'i'he insurance carrier providing the insurance shall be chosen by Banower subject to Lcnder's approval which shall not
<br /> be unreasonably withhcld. lF Borrower fails w maintaln covcra�e describcd abovc, Lcndcr may. at L.endcr's option,abtain :
<br /> coverage to protect Lender's ri�hts in the Property in accordance with paragraph 7. ,'�``
<br /> � All insurancc policies and renewals shall be acceptable to Lender and shall include a standtud mortgagc clause.Lender shall
<br /> havc the r�ght to hold the policics and renewals.If I.endcr requires,Borrower shall promptly givc to Lender all rcxcipts of paid _
<br /> premiums and renewal nouces.In the event of loss,Barrower shall give prompt nouce to the insurance carricr and Lender.[.ender
<br /> I may make proof of loss if not made promptly by Borrower.
<br /> Unlcss Lender and Borrower otherwisc agrcc in writinng,insurance procecds shall bc applicd to restoration or repair of thc _
<br /> Property damagcd,if thc restoration or repaic is economically feasible and Lcnder's security is not lcssened. If thc restoradon or -
<br /> repair is not economically feasible or Lender's security would be lessene.d. the insurance proceeds shall be applied to the sums
<br /> secured by tt�is Security Inshvment, whether or not then due, with any excess paid to Boaower. If Borrower abandons the ..
<br /> Property,or does not answer within 30 days a nodce from I.ender that the insurance carrier has offered to settle a claim, then _
<br /> Lender may collect the insurance proceeds.I.ender may use the proceeds to repair or restore the Property or to pay sums secured
<br /> by this Sccurity Instrument,whethcr or not then due.'Thc 30-day period wiU begin when the nodce is given. --
<br /> Unless Lender and Borrower othenvise agrec in wricing,anY aPPlication of proceeds to principal shall not extend or postpone
<br /> � the due datc of thc monthly paymenu rcfeacd to in paragraphs 1 and 2 or change thc amount of the payments.If under paragraph
<br /> 21 the Propercy is acqu'ued by Lender,Borrower's right ta any insurance policies and proceeds resulting from damage to the ...-
<br /> Property prior to the acquisidon shall pass to Lender to the extent of the sums secured by this Security Inswment immediately
<br /> priar W the acquisiuon.
<br /> �r 6.Occupancy,Preservation,Maintenance and Pratection of the Property; Borrower's Loan Applicatton;Leaseholds. _
<br /> Boaowcr shall occupy,establish,and usc the Property as Bonower's principal re.�idence within sixty days after the execution of _ _
<br /> this Sexurity Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year atter the
<br /> � date of occupancy, unless Lender otherwise agrees in wridn8, which consent shall not be unreasonably withheld, a unless _
<br /> , extenuating circumstances exist which are beyond Borrower's control.Borrower shall not desuoy,damage or impair the Property,
<br /> a!lfl;;� the prQge�iy i� dr_.�Pri�ratr.,�r commit waste on the Property. Bonower shall be in default if any forfeiWre acdon or
<br /> procecding,whether civil or criminal,is begun rhat in Lender's good faith judgment could result in forfeiture of the Properiy or --__
<br /> otherwise materiaUy impair the lien crcated by this Securiry Instrument or L.ender's security interesG Borrower may cure such a �w�� `—
<br /> default and reinstatc, as providcd in paragraph 18.by causing the action or procccding to be dismissed with a ruling that, in `–�,���„�
<br /> L.ender's good faith detcrmination,precludes forfeiuue of thc Borrowcr's int�rest in thc Property or other material impairment of �`�'�,y•f_'
<br /> the Gen createci by this Securiry Instrument or I.ender's security interes�Borrower shall also be in default if Borrower,during the �'�';,_
<br /> loan applicadon process,gave materially false or inaccnrate informaaon or statements W Lender(or failed w provide Lender wlth ,. ,.
<br /> ' any material informadon) in connecdon with the loan evidenced by the Note, including, but not Wnited to, representauons �
<br /> conceming Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a leasehold.Borrower �..�A�
<br /> � shaU comply with atl thc provisions of thc Icasc.If Borrowcr acquires fec titic w the Property,the leasehold and the fec ude shaU --��e�_
<br /> not mergc unless L.endcr agrees to the merger in writing. ,'�::
<br /> 7.Protection of Lender's Riqhts in tlie Property. If Bonowcr fails to perform ihe covcnants and agrecments conteined in ",;�=•-
<br /> this Securiry Insuument,or there is a legal proceeding that may significandy affect I.ender's rights in ihe Properry (such as a .:�a��
<br /> �roceeding in bankruptcy,probate,for condemnauon or forfeiture or to enforce laws or regulations),then Lender may do and pay --_-
<br /> for whatcvcr is necessary to protc�ct the�alue of the Property and Lender's rights in thc Property. Lender's actions may include �sF;;.:.._
<br /> ' paying any sums sccured by a lien which has priority ovcr this Sccurity Instrumcnt, appcaring in wurt, paying rcasonable •_;..,,s�+,�-
<br /> �r•. attomcys' fecs and entcring on thc Property to makc repairs. Although I.ender may take acdon under this puragraph 7,Lcnder '`�''�'-'=� _
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<br /> . does not have to do so. '_`��'����'`�'
<br /> ' Any amounts disbursed by Lcnder under this paragraph 7 shall bccome addiuonal debt of Borrowcr sccured by this Security ,.;_�_ �
<br /> Instrumen� Unless Borrowcr and Lender agrec w uther tcrms of payment,these amounts shall bcar interest fmm tbe date of � ,�� � --`.�
<br /> disburscment at the Notc rate and shall lx:payable,with interest,upon nouce from Lcnder to Borrowcr mc{uesdng paymenG � . '`� . „ ,��, •'
<br /> 8.Mortgage Insurance. If Lender requ'ved mortgage insurance as a condition of making the loan secured by this Security ; t�;'���}::::'.
<br /> Instrument, Borrowec shall pay thc promiums required to maintain the mortgagc insurancc in cffcc� If. for any mason,thc ��'���•-' . r--�
<br /> ; mortgage insurance coveragc rcquircd by Lender lapscs or ceases to be in effect,Borrower shall pay thc prcmiums required to ' •
<br /> obtain coverage substantially equivalent to the mortga�e insurance previously in effecG ut a cost substantially equivalent u►the . . ., .
<br /> cost to Borrower of the mort�age insurance previously in effect, from an alternate mortgage insurer approved by Lendcr. If
<br /> substantially cquivalcnt mortgagc insurancc coveragc is not availablc,Borrower shall pay to Lcnder cach month a sum equal to
<br /> one-twelfth of the ycarly mortgagc insurancc premium being paid by Bonowcr whcn thc insurance coveragc lapsed or ceascd to
<br /> bc in cffccG Lcndcr will accept,usc and retain thesc payments as a loss rescrvc in licu of mongagc insurancc, L.oss ccscrvc
<br /> Form 3028 9/9q
<br /> � •8R(NE)192iz1.o� Pa9e7o18 iniva�e�,
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