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<br /> S.Hazer�ar Property Insurance. Bonowcr shall kecp�he improvemcn4s now cxisdng on c�rcaftcr crcctcci on ihc Property _
<br /> insured'a ainst loss by Cuc,ha•rards included within ihc tenn "cxtendcd covcrnEc" ur►d m u �S and fo�r thc pc iodc that�ndcr k '
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<br /> � tlooding,tor which Lendcr requires insurancc.l'his insuranc:c y�l�l bc maintaincd in th�a
<br /> , rcquira�.Thc insurance carricr providing the insurancc shall bc choscn by Borrowcr subjcct to LcndcPs approval which shall not
<br /> � bc unreasonably witltheld. It Sorrower fails to maintain covcrage described above, l.cndcr may, at I.cndcr's option,obtain�
<br /> covcrage to protect L.ender's righis in the Property in accardance with ParaBraPh 7. „
<br /> All insurance policies and renewals shell be aceeptable to i..ender and shall include a stanclar c��der all rece pL4 of paid� � •
<br /> havc the right to hold the policics and renewels. If Lcnder rcquires,Barrowcr shall prompdy g k�, : .
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<br /> premiums and renewal notices. In the event of loss,Borrower shall give prompt nolice to the inswance carrier and L.ender.Lender� � v
<br /> may make proof of loss if not made promptly by Bonowcr. �"�"`��"`�'`"'-
<br /> �ic,d to restoration or repair of theN n-r-��---
<br /> Unless Lender and Bonower otherwisc agrec in writing�insurance PI�S shall he app'
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<br /> property damaged,if the resrorauon or rcpair is economically feasibsc��ne insurance procceclsl hall be applicd ttie sums�
<br /> repair is not economically feasible or Lender's security would be 1 , ,. �:��_----
<br /> secured by this Security Instrument,whether or not then due. with any excess paid to Boaower. If Borrower abandons the
<br /> Property,or does nat answer within 30 days a notice fro��ndre�r��i p�oI����e ptopercy or�to P Y ums secured < •
<br /> lL en der m ay c o l l e c t t h e i n s u r a n c e p r o c e e d s.L e n d e r m a y u p �W�1 begin when t he notice is gi v e n.
<br /> by this Securiry Instrument,whether or not then due.The 30•day P�llcatian af proceeds to principal shaU not extend or poscpone
<br /> Unless Lendcr and Borrower othcrwise agrce in wricins,enY aPP�
<br /> the due date of the monthly payments referred to in PaiaBmPhs 1 and 2 or change thc amount of thc payments.If undr,r paragrapb
<br /> 21 the Property is acquired by Lender.Borrower's right w anY ins►uancc Policies and proce.eds resulting from damuge to the ��.
<br /> ' property prior to the acquisirion shaU pass to Lende�to the extent of the sums secured by this Securiry Instrument immediatety –
<br /> �. prior to ihc acquisition. Borrower's Loan Applitatioa;Leaseholds. . A'��
<br /> � 6.(kcupancy,Preservation,Maintenance and Protectfon ot the Property;
<br /> Bocrower sh a ll occupy,cs t a b l i s h,a n d u s e t h e P r o p e c t y a s B o r r ow ea's princi pal residence within sixty daYs after the execution of '', J. .
<br /> n as Barrowcr's principal resi�cncc for at lcast onc ycar d t e r t h c .;��� � ,.�
<br /> � this Scxurity Inswmcnt and shall continuc to occupy thc Propc Y • ��;;`
<br /> date of oc�upanty. ��nlr_c�L.ender othenvise agrees in wriang, which consent shall not ba unreasonably wtthheld, or unless .A.,,.'��r..
<br /> extenuatin g circumstances exlst which are bc:yond Bonower's control.Borrower shuil��ot dcstroy,d�tri$SC QT lmPAir the PropCrtY. _ r ,,,�
<br /> allow thc PropertY W detcrioratc, or commit wastc on lhc Propcny. Bonow c r s h a l l b e i n default if an y forfeiwre acdon or �,,�,
<br /> procecding,whether civil or criminal, is begun Ihat in Lender's goad faith judgment could result in forfeiture of the Property or :Q:,-.
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<br /> othcnvisc materiallY�mPair the licn creatcci by ihis Securiry Instr�cmcnt or I..endcr's scctuiry lntcresG Borrower may cure such a :� ,}i
<br /> default and reinstate,as provided in parn�raph 18,by causing the action or psoceedin8 co b�dismissed w[th a ruUnB�hat,�► `� �• ;
<br /> Lcndcr's goal faith determinadon.precludes forfeiture of thc Borrowcr's intcrest in the Property or othcr material impaimicnt af ��
<br /> thc lien created by this Sccuriry Insuument or L.endcr's sccurity inceres�Borrower shall also bc in default if Bonowcr, during thc u..
<br /> loan applicadon process,gave materially false or inaccurate infarmauon or statements to Lender(or failed co pro�ide L.ender with ��
<br /> any material informadon) in connection with the loan evidenceci by the Note. includin ns b�ent is on a�easeho d.Borrower -- –
<br /> conceming Borrower's occupancy of the Propeny ac a principal residence.If this Security ____
<br /> shall cumply with all thc provi�ions of thc lease.If Borrower acquires fcc ride to U►e Property,thc lcaschold and thc fee IiUe shall
<br /> not merge unlrss Lender agrees to thc mcrger in writing. �—
<br /> 7.Protectton of Lender's Rights in the Property. I f Borrower fails to pedorm the covenants and agreements comeined in ��'��_
<br /> this Securiry Instrument, or there is a Iegal proceedin8 that may significantly affect L.ender's rights in the Pmperty (such as a _
<br /> � proceeding in bankruptcy,probate,for wndemnauon or forfeiture or to enforce laws or regulations)�n�nc�►►acu ns ay include ;�___
<br /> � for whatever is necessary w protect the value of the Prope�ty and Lender's rights in the PropeccY• � court, paying masonable .��--
<br /> � paying any sums secured by a lien which has prioriry over ihis Security Instrument, appearin8 h 1,L.ender ��
<br /> ; atwrncys' fcrs and entering on the Property to makc rcpairs. AlthauSh L.ender may take action under this paragraP ;;�._�
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<br /> does not have to do so. 'R ---- - -
<br /> � Any amount�disbursed by L.ender under this paragraph 7 shall become additional debi of Borrower secured by thisSecurity
<br /> InstrumenG Unless B o r r o w e r a nd Lcnder a grce to othcr tccros of payment,thesc amounts shall bcar intcrest from the datc of ���'�ly��;���
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<br /> � disburscment at the Note ratc and shall be payable,with intcrest,upon noucc from Lcndcr to Borrowcr requcsung paymc�. , ,:`�; ; `
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<br /> ; 8.Mo r t g a g e Insurance. If Lender required mortgage ins�rance as a condition of making the loan secured by this Security � ;
<br /> ; Instrument, Borrowcr shall pay thc premiums rcquircd w maintain thc mort�age insurancc in e f fect. I f, for a n y r c a son, the �F: �
<br /> mongage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to � -
<br /> i obtain coverage substantially equivalent to the mort�age insurance previously in effect,at a cost sebstantially equivalent to the
<br /> � cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgago insurer approved by Lender. If
<br /> ! substantially equivalcnt mongagc insurancc coverage is not availabie, Bonower shall pay tn L.endcr cach month a sum equal to f
<br /> � one-twelfth of the yearly mortgage insurance premium t�cing paid by Borrower when the insurance coverage lapsed orceased to �
<br /> be in effcct. Lcndcr will acccpt, usc und retain thesc payments as a loss rescrve in licu of mortgage insuruncc. L.oss reacrvo I
<br /> Form 9028 9/90 �
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<br /> � �•8R(NE)iez+zl.o+ Papo 3 016
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