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<br /> } S.Ha�ard or Property Insurauoe. Borrower shall keep the impmvements now existing on c�re�frer eredcd oa the Property , • . .W-�•
<br /> { ' insured�ainst lass by fue,lra�rds iaicluded wiihin the tram "exteaded caverage" and any other haTards, inciuding floods or • � . ___
<br /> ` flnoding,for which Lender requires insurance.This insuuance shall be maintained ia the arnounts and for the peziods that Lender • •:
<br /> � requires.The�nsurance carrier providing the insurauce shall be chosen by Borrower subject to Lender's approval which shall not � � ~ : � }-
<br />--� � unreasonably viithheW. If Bo�r.�er fails to maintain coveisge descn'bed above. Lender may, az Lender's option, obtain �. • - - ,- - - �
<br /> .� cove�age to protect Lendrar's rigtrts in the Property in accordance with para�aph 7. . . `
<br /> ". All insuiance policies and renewats shall be aoceptable w Lender and shall include a standard mortgage clause.I.ender shall •
<br /> � dave the right w ho2d thc polici�s and�enewals.If Lendea requires,Borrow�shall pnnmptly give w Lender all receipts of paid " ' . ,
<br /> i pre�niums and renewal ao�ces.In the event of loss.Boaower shall give prompt notice to the insurance carriea and I.euder.I.endea . . ,. ;,••�:.;
<br /> j may maYe pmof of loss if not made pmmptly by Bomowea. ` �'�'�' �
<br /> ; Unless Lender and Bormwer otheaa+ise agree in writimg,u�s�uance Proceeds shall be applied w reswrarion or repair of the •.•:�::��E��;+;::.--
<br /> i �P�Y�8�if the restorntion or re�ai�is economically feassble aad Lender's seca�rity is aot lessened.If the resoorati�n or , �;_;;: '�. ,�'--
<br /> � repaQ is not ewnomically feascble or Lender's seairiry would be lessened,the iasurance proceeds s6all be applied tn the sums .%�1'=..,' . <y;;;�:,,, �
<br /> serured by this Security Ins�uneut, whether or not then due. witli any eRCess paid to Borrower. ff Bamower aband�ns ihe . . , �r.,;.�
<br /> ��`�-�`,a:c�;:
<br /> Propeity.nr dces not answer withm 30 days a notice from Lendea that the msuxance canier has offemd tn settle a chnm, thea .. . _<•:.��•��u;�=
<br /> Leader may collect the insurance proceeds.L.ender may nse the proceeds w�or restore[he Property or to pay svms secured � : , _ , _—:
<br /> by tttis Security Instrament,whether az not thea due.'Ihs 30-day pe�iud will be�►when the notice is given. ; _: r,i;�;,;:, � . , .�d
<br /> y�i y;r � . �. _. .
<br /> Untess Leadea and Borrower otherwi�e agree in writin8,anY�rlicatian Qf�s to principal shall not extend or posEpene � '''•f��,=;. •. • .�..•-.•._
<br /> •,.�;����..: �_
<br /> the due date of the monthly payments referred w in paragraphs 1 and 2 or rh�r$e amo�mt of the payments.If unde�pacagrap6 � -
<br /> 21 ttte Ropeaty is a�cquired by Lx,nder,Borrowes's right to any insuiance gu?�and pmceeds resulting from damage tn the �: - .�'_..�`.^:.: —
<br /> Pmperty prior tn the acquisirion s6all pass to Lender w the exte�t of the sums s�uied by this Secauity Instrument immediately ` .,s.i,<, • -'��+'�,:
<br /> prior w the ar.quisition. ' ;•",;y .
<br /> � 6.Ocxa P a n c 9,PreSepvatton,Ntaimtenance and Protectton of the Pro P e v t 9; Borrower°s Y.oan Ap plitatfon;LeasQhaids. ',,%,;,�:. .;' ''�`. •
<br /> � Borrower shall ooa�y.e�b�sfi,and use t�e P�op�ty as Bflrrowe�'s principal residence within si�ty days aft�a ihe execuaan of � r —
<br /> tisfi,
<br /> tbis Securily L�suume�nt and shall continue w occupy the Property as Borrower'��sincipal residence for at least one year after ihe • • ' 'Y r:•
<br /> datc of oocapancy, unless I.eader otherwise agree,n 3 writing, ahich cons�s shall not be unreasonabl withhetd, or uailess .'� �.
<br /> Y • .�`� '.�: .:
<br /> ext�ua�eti�circ�mstances e�ist wtdch are heyund Bm�mwer's cm�t�r�Boimwer shall not desimy,darnage or impair the Fta��ty. . � ��'� . �
<br /> allow the&'aopeaiy to deteaiorare,or wmmit waste on the Pttt�stp_Borrow� shall be in default if any forfeinue actr��or - ���.,�
<br /> Froceedin8,whether civil or criminal,is begun ttiat�I.ender's�a f a i t t►�d�a nent could result in forfeiwre of the Prop�ty or ;} ,�.
<br /> otherwise masPaially impair the lien cr�eated by this�ity Instnunent or L:e�ga's secarity interest.Borrower may cure sach a ;' =
<br /> default and remstate,as provided in pazagraph 18.by causting the acdnn or�.�eeding to be disnissQd with a tuling tbat.in ;.', . �.
<br /> Lrender's good fauh det�mination,preclndes forfeihue of the Borrowea's inteaest in the Prope�ty or other material impaitment of `�'
<br /> '9.y��.:� Li
<br /> ' We}i�n aeaoed by this Security Iasuwner�t or Lended's seauiry intri�rt.Bmrowa shall also tse in defauit if Bomnwer,during ihs _.;�•; .. ' �-�
<br /> � loan application process,gave mateaially false or inaccivate�fonnation or statements to Lender(or failed to provide I.endea with �,�: � ��" ,
<br /> " .��,�, - -
<br /> arty material infam�aCCa) in coimecuon with the toan evide�ced by the Note. including, but not limited tn. repiesentations �. :�� � .__ `' `'�
<br /> conc�ung Brnrowea's c�a.��ancy of the Prop�ty as a ptincipal resideace.If this Sectuity Ins�ument iv on a l�se�old,Bonawer �;�;��,��'��_ .
<br /> • shall com I with aII the viuons of�he tease.If Borrowea nires fee ade w the Pro � � �
<br /> p y pru acq peaty.the leasehold and the fee dtie shall �a�r_;�_'`�..
<br />. • not merge anless Lender agrees to the merger in writmg. • �`�"`��.y,
<br /> 7.Proteetlom otl.gnder's Rights in the Property. If Bonowea faits to peaform the covenants and agreemenB contained in _ � '��`�' ---
<br /> this Seca�riry Instrume�:.vr there is a IeBad Pmce�mg that may significantl�r�oct Lender's rights in the Pcoperry (svch a4 a � •' ��;;.`g:'.
<br /> P�S��P�9,Pmbalc,fos condemnae�ca forfeiaue or w eaforce 3aws or regulations).then L,endea may do and pay � :.:.; -
<br />. for whza;��is necessary to protect G���alue of t��Aopeaty and I�ender's rights in the Prop�ty.Lender's actions may incIude '�:°�L-,�-. `-
<br /> l�ri tY tY m court, PaYinB reasonable �'.
<br /> �{,:•:�;;::.-,. ,�_..:
<br /> PaYin$ � sums seciued by a lien :.�.t� has ari ov� this Securi Ins�ument, aPP�B � ,:�-�;�
<br /> aitomeys'fees and ente:ing on the Propeaty to ma:se repa'us.AIthough Lendea may take action undea this paragraph 7,Lendea '�'..;�.;; ,,•, �s�_ �.•
<br /> does not Mve to do so. . ��^1���
<br /> Any amounts disbutsed by Lendea nnded this�r-�raph?shall beca�ne additional debt of Borrower st�ed by this Security • . � . -.•.-. � ;- .�`
<br /> Ins�u:�i Unless Boaower and Lende� agree w other terms of payment,these amounu shall bear interest from the date of � ._ ,'__. :_..;.;,� �
<br /> disb�t at the Not�rate and shall be payable,arith interest,�pon notice from I.ender to 8onower requesdng payment " �
<br /> S.M�tgage Insurance. If Len�r required martgage insurance as a condidon of makmg the loan secured by this�:riry :'` ';•' . '�::,c•.
<br /> InsUwnent, Borrowea shall pay the premi�uns requireA to maintaIn the mortgage insurance in effect. If, for any rea�a. �he . � �. . �
<br /> �ortgage instuance coveaage required by Lendea tapses or ceases to 6e in effect,Boaower shall pay the premiums required tn � . ' . - ' • '
<br /> �biai2 cove.rage substantially equivalent to the mortgage insurance previously in effect,ai a cost substantiaally equivalent to the . .. .. . r.l
<br /> cost ax Grc*awer of the mortg�ge insurance previously in effecx, �:om an alteanate mortgage insurer approved by Lr�rder.If � . • _
<br /> sub5t��aII�equivalent mortgage insurance cov�age is not av���,:.Bonower shall pay to Lender each month a sw�a c�ual to .- �
<br /> on�twe�t.'�of the yearly mortgage insurance pre�i:�b;ing pid by Baaowec when the insurance cov�^age l�,psed or ceased to � . .�---•--�
<br /> � be in effect Lender will acce t,nse and retai.a � �
<br /> p payments as a loss rw�re in lieu of mortg�ge insrrr^�r.ce.Loss reseave
<br /> . .::.�.L-.
<br /> Form 3323 9/90 � � ' —-
<br /> ���(��W272I.O7 Papo 3 ot 8 Inmc�t: �. . �, : .
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