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<br /> � 5.Haz�rd or Property Insurance. Borrowcr shall kccp thc improvcmcnts now cxisting or hercaftcr crccted on thc Property j �
<br /> insured against loss by fire, hazards includet! within the term "extended coverage" and any other ha•r.ards,including lloods or �
<br /> floalinE,for which I.ender rec�uires insurance. This insurance shall be maintalnetl in the amoun4t and for the periods that L.ender {
<br /> requ'ucs.Thc insurancc carricr providing thc insurancc shall bc choscn by Bonowcr subjoct to L.cndcr's approval which shall not �
<br /> be unreasonably withheld. Ii Boaawer teils to maintain coverage described above, Lcndcr muy, at Lender's opaon, obtain �
<br /> coverage to protect Lendcr's rlghts in the Property in acc.ordancc with paragraph 7. � " �
<br /> � AU insurance policies and renewels shall be acceptable w Lender and shall include a standard mortgage clause.Lender shatl "'
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<br /> � havc thc right ta hold the policies and renewals.If I.ender requacs,Borrower shall promptly givc to Lcnder all rcccipts of paid :F��;;
<br /> premiums and renewal nouces.In the event of loss,Bonower shaU give pr4mpt nodce to the insurance carrier and Lender.I.ender � _ -
<br /> , may make praof of loss if not made prompily by Borrower. '' -
<br /> Unless Lender and Borrower otherwisc agrce in writinS. insurance Pracceds shall bc aPP��ed I°restoration or repair of the�"� -
<br /> Properiy damaged, if the restoration or repair is economically feasible and I.ender's security is not lessened.If the restoration or� _
<br /> , repair is not economically feasiblc ar L.ender's scciuity would be lesscned,ihc insurence procecds shaU bc applied to the sums� .,,�,,,�. .
<br /> secured by this Secwiry Instr�ment, whGher or not then due, with any excess paid to Boaower. If Boaower abandons the
<br /> Ptoperty,or does not answer within 30 days a natice fr�m Lender that the insurance carrier has offered w settle a claim, then
<br /> L.ende.r may collcct the insurance procceds.L.ender may use the proceeds to repair or restore the Froperty or to pay sums secured
<br /> by this Security Instrument,whethcr or not then duc.The 30-day period will begin when the nodce is given.
<br /> Unless Lender and Borrower otherwise agree in writic►g,anY application of proceeds to principal shall not extend or pos�
<br /> the due date of the monthly payments referted to in paragraphs 1 and 2 or changc the amount of the payments.If under paragraph ._
<br /> • � 21 the Property is acquired by I.ender, Borrower's right to any insurance policies and praceecls resulting from damage to ihe
<br /> � Property prior to the acquisidon shall pass w Lender to the extent of the sums secured by this Security Instrument immediatcly
<br /> - pdor to thc acquisition.
<br /> 6.Occupancy,Preservat�on,Mainteaance und Protectioa of the Property; Borrower's Loan Application;Leasebolds.
<br /> ,� Borrower shall occupy,establish,end use the Propercy as Bonower's principal residence within sixty days after the execudon of
<br /> ' this Seturity Insavment and shall continue w occupy the Property as Borrower's principsl residence for at Ieast one year afcer the
<br /> — date of occupancy, uniess Lcnder utl�a�wi� adrus ia writing, which con:.ent°.hsll net bc unre�ason�biy wirhheld, or unless _ __+y�_- _
<br /> � extenuating circumstences caist which are beyond Sonower's control.Borrower shall not desuoy,damage or impciiir the Property, , ;,;.
<br /> � allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiwre acdon or �`�q,
<br /> : proceeding,whether civil or criminal,is begun�hat in Lender's good faith judgment could result in forfeiwre of the Property or . �st' � .
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<br /> otherwise materlally impair the llen created by this Seciuity Instrument ar Lender's security interesG Borrower may cure such a •& �
<br /> ; dcfault and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling that,in �
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<br /> ; Lender's good faith determination,precludcs fodeipue of the Borrower's interest in thc Property or othcr material impaicment of Y �
<br /> , the lien created by�his Security Instrument or Lender's securiry interesG Borrower shall also be in default If Borrower.durfr►g ihe -
<br /> loan applicatlon process,gave materislly false or inaccurate information or statements to Lender(or failed to provide I.ender with ' �
<br /> �: any meterial informadon) in connecdon with the loan evidenced by the Note, including,but nat limited to, representadons �—
<br /> conceming Borrower's occupancy of the Property as a prir�cipal residence.If this Security Instrument is on a leasehold,Boaower •:�: -
<br /> shall comply with all the provisions of the Iease.If Borrower acquires fee title to the Property,thc leasehold and t he fee 6 de s h a l l ;ae��:
<br /> not merge unless Lender agraes co che merger in writin�. '}w��-
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<br /> 7.Protectiou ot Lender's Rights in the Property. If Bonowcr fails to perform thc covcnants and agrecments contained in `;r�_
<br /> this Security Instrument, or there is a legal proceeding that may significandy af:ect Lender's rights in the Property (suc h as a '..`='=
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<br /> proceeding in bankruptcy.probate,for condernnation or forfciture or to enforce laws or reguladons),then I.ender may do and pay ;._f,�;�.�-v
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<br /> for whasever is necessary co protect thc value of the Yroperty and L.ender's rights in the Property.Lender's actions may include .��,4���
<br />� . �; paying any sums secured by a Uen which has priority over this Security Insuument,appearing in court, paying reasonable '�•:-=��'.
<br /> • atwrneys' fees and enteru�g on ihe Property w make rcpairs.Although I.ender may takc acuon under this paregraph 7,Lender ,�7��'��""-` '`
<br />- docs not have to do so. `�"+� .
<br />= � Any amounu disbursed by Lender under this paragraph 7 shall become addiuonal debt of Borrower secured by this Security •�•-�;,�+'�'.�`��
<br /> ii InstrumenG Unless Borrowcr and Lender agrcc to other terms of payment, thcsc amounts shall bear intcrest from the datc of .5 •�'� �,�y;,
<br /> _ disbursement at the Notc ratc and shall be payable.with intcrest,upon notice from Lendcr to Borrowcr rcqucsting paymcnG „�� : �r: '
<br />- � S.Mortgage Insurance. If Lendcr requimd mongage insurance as a condidon of making ihe loan secured by this Security - .
<br /> � Instrument, Borrower shall pay the prcmiums required to maintain the mortgagc insurancc in effcct. If, for any reason,�he � .
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effect,Bortuwer shall pay the premiums required to , '
<br /> i obtain coverage substantially equivalent w the mongage insurance previously in effect,at a cost substantially equivalent to the
<br /> � cost to Boirrowcr of the mortgagc insurancc previously in effect, from an alternate mortgage insurer approved by Lendcr,If "
<br /> I substantially cquivalent mortgage insurunce coveragc is not available,Borrower shall pay to L.ender each month a sum cqual to
<br /> _ � onc-twclfth of the ycarly mortgage insurance prcmium being paid by Bonower when the insurance coverage lapsed or ccased to
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<br /> be in effec� Lender will accept, use and retain these payments as a loss reserve in lieu of mongage insurance. Loss reserve
<br />' � Form 3028 9i90
<br /> ' ��•8R(NEj�cz�2).o+ Pape 9 01 8 i�mnis: I
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