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<br /> 97-�i��s9� ,.� . __�-
<br />' S. l�Eazard or Prugerty Insurance. Bottou'er shall keep the improvements noa existing or herrafter erected on the � . � ,
<br /> . �_
<br /> Propeny insured agains:loss by fire, hazards included within the term"extended coverage" and any other ha7ards. induding • �
<br /> flouds or flouding, for w�hich L.ender requires insurance. This insurance shall be maintained in the amounts and for the periads . - � ,•���,
<br /> that Lxnder requires. The insurance rerrier providing the insurance shall be chosen b}� Borrower subject to Lender'S appraval , • . �-;�,..;,,;,.�- _
<br /> which shall not be unre�asonably withheld. if Borrax•er fails to rtsaintain co�•erage described above. Lender ma}. at Lender's • •
<br /> option,obtain coverag�to protect l.ender's rights in the Property in accordance�uith paragraph 7• . � � --
<br /> All in+ur^�•nce policies and renewals shall be acceptable to Lender anci shail include a standard mortgage clause. Lender �1 • �
<br /> shall haye the right to hald the policies and renewals.If Lender requires. Borrower shall promptly�i�•e to Lender all receipu of �_��_ ` �
<br /> . paid premiums and renewal notices.In the event of loss, Borrower shall give prompt notice to the insurance carrier and Ler.det. , ' —� ` ��'.`
<br /> Lender may make proof of loss if not made pmmptly by Borruwer. •�. .�m•.=-
<br /> : Unless Lender and Borrower otherwise agree in writing. iiuurance proceeds shal! be applied to restoration or repair of the ,."z'z',""3`:"�'•�"`-F:
<br /> property damaged, if the restoration or repair is economically feasible and Lender's security is not fessened. Ef the restoration or `„;'r;,-. ._. : :,,:`_��_�;__ `,
<br /> repair is not economically feasible or Lender's security would be lessenetl, the insurance proceeds shall be�.r�:ied to the sums . �• ,:;,.�.�,�n,,..� :_
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borcower abando:u the '; ,�,-_��N_
<br /> Froperry.or does not answer within�� �.aays a notice from Ixnder that IIte insurance carrier has offered to setde a clzim.. �.hen ��:;;.-�_,��__ _
<br />� Lender �rs:_t collect the insurance pnx�eds. I.ender may use the pmceeds to repair or restore the Property or to ps�y sunu ,� ? "�•.'b-�
<br /> secured bti�•t6;.;s Security[nstrument,w-i:�tfier or not then due.The 30-day period wiU begin when the noiice is given. _� ,-_��=•
<br /> Unl�v Lender and Borrower otherwise agree in �vriting, any application of pmceeds to principal shall not extend ar "`�"_'�-•-��� -_-•
<br /> postpone��e due date of the monthly payments �ferned to in paragraphs 1 and 2 or change the amount of the payments. If �'����__
<br /> ;--=�--T-- ��
<br />. under p�r�--aph 21 the Property is ar{ui-�by Leuder, Borrower's right to any insutance p�'.icies and proceeds resulting from � • +�.
<br /> damage to t3�e Properry prior to the�r�*_'son shall pass to Lender to the extent of the sums secured by this Security Instrument .:�� �_
<br /> ,..... �. _..
<br /> immediately prior to the acquisiuon. '"'�':'. •'� -_—-�.. -
<br /> 6.Occupancy,9'tt����atio�,Maintenance ac�Protection of Ihe Pro�y.�y•�orrower's Loan A ��atton;Leaseholds. ' "'•�'..'.:`'"`"'""°' :'�_�
<br /> �•�,7• �� F.'}1w.� . . . P �
<br /> <'i,. �'
<br /> ` � 5�rtower st�all occi:��-�'-blish,and use the Property as Borrower's principal ra��:nce within sixty days a�er the execation of � ';f�
<br /> � c,7is Secu.�. Instrurr�r:�nd shall continue to occupy the Property as Borcower's principal residence for�t !�st one yea..�after ��`` .__---�'
<br /> cu. -
<br /> the dat::>`•�:cu p a n c y. cnless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld. o*a�'�s , • #�.'. {t'�.
<br /> .., ..,'L.i
<br /> "_ extenua�.� circumsta�.^rs exist which ar beyond Horrower's control. Borrower sttall not destmy. dz.::�e or i��.r the `�� y' � ,,.
<br />` Property, allow the ProrJerty to deteriorate, or commit waste on the Property. Borrower shall be in de:a�:x if any forfeiwre :�:�r�.,
<br /> .:��;.
<br /> action or proceeiiing. whether civil or criminal.is begun that in Lender's good faith judgment could result in forfeiture of the 'Y:,n _,'��,�,R;4
<br />' '�; Propercy ca otherwise materially impair the lien created by this Security Inswment or Lender's security interest.Borrow�r may <-;,,;, .. ���-
<br /> � cure such a default and reinstate,as Frovided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling -:��{��'� -
<br /> that, in Lettder's good faith determination, precludes forfeiture of the Borrower s interest in the Properiy or other material + '"'_''" ���t°;�' _
<br /> impairment of the lien a�+�ted by this Security Irz�rument or l.ender's securit3• interest. Borrower shall_'so be in default if �' ' '
<br /> � r'�.�
<br /> Borrower,durin the G_:;� lication rocess,ga���ateriall false or inaccur�.r:information or staterne�w�.�Lender(or failed ' �": ''`'�
<br /> . S aPP P Y # .:;_:;�.:;.
<br /> ' to provide Lender wi�"z�y material information)in connection with the loan e4�enced by the Note.inc:��ag.but not limited ��};y;a��°�;>
<br /> • to,representations coacerning Borrowei s accupancy of the Property as a principal residence. If this Security Instrume::�.as os a • i< "E��:...
<br /> leasehold, Borrower shall wmply with all the provisions of the lease. If Bortower a uires fee title to the Pro the •c's-'.`:�
<br /> �9 P�'� ±�.1: �•;��.,'
<br />. leasehold and the fee title shall not merge unless I.ender ugrees to the merger in wridng. • �:�"• '
<br /> • 7.Protectton of Gx�der's Rights in the ProRerty.If Borrower fails to�er''orm the covenanu and agreements wntained in I� °�sg'-
<br /> ��?;e": :
<br /> • this Security lnstrument,or there is a legal proceeding 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 or regulations),then Lender may do and •�-�'. :_'
<br /> pay for whatever is necessary to protect the value of the Property and Lender's righu in the Property. Lender's actions may �+,��• ":R..
<br /> �' include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying - "''��f�*»`�
<br /> reasonable attomeys'fees and entering an the Property to make repairs. A([hough L.ender may take actiar�:nder this paragapb �,r:,�
<br /> - - 7.Ixnder dues not have to do sa. "'�`'�'`'�
<br /> Any amounts disbursed by I.ender under this paragraph 7 shall become additional debt of Borrower secured by this mr� _
<br /> �. Security Instrument. Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest from the . .����
<br /> date of d;sbursement at the Note rate and shaU be payable, with interest,cpon notice from Lender to Bor*ower requesting �� ° -
<br /> �r-,T,-'�.
<br /> ., payment. �-���:';.c....
<br /> r� ...'p..�,�,',
<br /> S.Aiortgage Insvranee.If I.ender required mortgage insurance as a cand:tion of making the loan secr�red by this Security •��� ��:
<br /> lnstrument, Bonower shall pay the premiums required to mnintain the mortgage insurance in effect. If, for any reason. the _-_ --_ �'•'�
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums rcquired to � • "_�:.�
<br /> � obtain wverage substantially equivalent to the mortgage insurance previously in effect,at a oost substantially equivalent to the . ,•: „-_
<br /> cost to Borrower of cl,r mort a e insurance reviousl ro effect, from an alternate mon a e insurer roved b Lender. If ::�i?"�'•7':
<br /> g g P Y � S S 2F% Y '��r '�;��N�.
<br /> substantially equivale�c mortgage insurance coverage is not available.Borrower shall pay to Lender each.^.3onth a sum equal to :4f,,,�;:;;�}L,.,�,,�,
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to ` •'" ' :#�s:
<br /> be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve '" �� __
<br /> �.;•� !n„;�[�. ,�.,.
<br /> Form�a.?S 9/90 �'�'��
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