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<br /> - ' 98- ��►1�z33 :
<br /> S.Ha�ard or Property Iasurance. Sorrowcr shall kecp thc improvemcnts now cxisting on c�rcaftcr crcctcd on thc Pcaperty
<br /> insured against loss by fuc, hazards included within the tcrm "extcnded wveragc" and any athe:r har.ards, including floods or -
<br /> floading,for which L.ender rec�uires insurance.This insurance shall bc maintaineti in the amaunts and for thc pericxl� Qiut Lcndtr I
<br /> requires.The insurance carrier praviding the insurance shall be cho.sen by Borrower subject to Lender's approval which shall not
<br /> be unreasonubly withheld. If Borrower fails ta muintain coverage described above, L.ender may, at L.endcr's option, obtain
<br /> coverage to protect L.ender's dghts in the Property in accordance with paragraph 7.
<br /> All icisurance poUcies and renewals shall be acceptable to Lcnder and shall include a standard mortgage clauce. I.ender shall =
<br /> havc the right to hold the policies and renewals. If L.ender requires, Borrnwer shall prompUy give to Lcndcr all rcccip�s of paid
<br /> prcmiums and renewal notices.In the evcnt of loss,Borrower shaU�ivc prompt notice to thc insurancc carrier and I.endcr. Lender ,.,.,.�,
<br /> may makc proof of loss if not madc promptly by Borcowcr. `-�;';;�'�',�.
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repnir of the _:n�-�°--�
<br /> Property damaged,if thc restoration or repair is economically fcasiblc and Lcnder's securiry is not lessened. If the reswrapon or _
<br /> � repair is not economically feasible or Lender's securiry would be lessened,the insurance proceeds shall be applieti to the sums ",��_ .,_.___
<br /> secured by this Securiry Instrument, whether or not ihen due, with any excess paid to Barrower. If Borrower abandons the
<br /> Property,or does not enswer within 30 days a nodce from L.ender that the insurnnce carrie►has offcred to seule a cleim,then r _
<br /> I.ender may collect the insurance procecds. Lender may use the proceeds to repair or restore the Property or to pay sums secured
<br /> by this Securiry Instrument,whether ar not then due.The 30-day period will begin whcn the notice is given �
<br /> Unless Lender and Borrower otherwise agree in wricing,any appUcadon of proceeds to principal shall not extend or postpone
<br /> the due date of the monthly payments rcferred to in paragraphs 1 and 2 or change the amount of thc payments.If under paragraph �
<br /> 21 the Property is acquired by L.ender,Boaower's right to any insurance policies and proceeds resulting from damagc to the
<br /> Property prior to ihe acquisition shall pass to L.ender to the extent of the sums secured by this Securiry Instrument immediately ,
<br /> �. prior to thc acquisiqon. >'
<br /> 6.Occupancy,Preservation�Maintenance and Protectton of the Property; Borrower's Loan Application; Leaseholds.
<br /> Boaower shall occupy,cstablish,and use thc Property as Boaower's princtpal residence within sixty days after the eaccuHon of
<br /> • this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the •
<br /> -, � Qf����pancy, unle.ec Lender otherwise agrees in writinR. which consent shall not be unreasonably withheld,or unless ____ __ �
<br /> extenuatir►g circumstances exist which are beyond Borrower's control.Bonower shall not destroy,damage or Unpair the Property, — -
<br /> aUow the Properry to deteriorate,or commit waste on the Property. Bonower shall be in dcfault if any forfeiture acUon or ,;;�;�w; �_� ,�:
<br /> - proceeding,whether civil or criminal. is begun thet in I.ender's good faith judgment could result in forfeiuue of the Property or �-,:.... : ��i
<br /> � otherwise materially impair the Hen created by this Security Instrument or Lender's security interesG Borrower may cure such a ;,:,
<br /> �,. .
<br /> default and reinstate, as provided in paragr�aph 18, by causing the action or procceding to bc dismissed with a ruling that, in >.�+r`
<br /> '•" Lcsnder's good faith determinatlon,precludes forfciture of the Borrower's intcrest in the Property or oU►er material Impatrment of ;�;
<br /> �' the lien created by this Securiry Instrument or Lender's security interesG Bonower shall also be in default if Borrower,during the
<br /> � loan applicadon process,gave matcriaAy false or inaccurate information or statements to Lender(or failed w provide Lender with ��,
<br /> y any material informabion) in connection with the loan evidenced by the Note, including, but not limited to, representations •l+�r.�±-�._
<br /> '. conceming Borrower's occupancy of the Property es a principal residence.If this Security Instrument is on a leasehold,Borrower � "
<br /> shall comply wlth all the provisions of thc Icase.If Borrower acquires fee atic to thc Property,ihe leaschold and the fce tiile shall '.����•---
<br /> � not mcrge unless Lender agrees to the merger in writing. �w
<br /> 7.Pratection ot Lender's Rights in the Property. If Borrower fails w perform the covenants and agreements contained in -.-�,_:��,
<br /> ihis Securiry Instrument,or th�re is a�gal procceding that may sign�candy affect L.ender's rights in the Property(such as a -� yry:..�.•
<br /> � proceeding in bankruptcy,probate,for condemnation or forFeiture or to enforce laws or regulupons),then Lender may do and pay •''y�,": -
<br /> ' for whatever is necessary to protect thc value of the Property and Lender's rights in the Property. Lender's actions may include ���;sy;� =:_
<br /> g paying eny sums securcd by a Gen which has priority over this Security Instrument, appearin� in court, paying reasonable ..-';�±��14�ct"
<br /> � attnrneys' fecs and entering on the Propeny to make repairs. Although L.endcr may takc acuon undcr this paragraph 7. Lcnder ;•:�.;�����'z
<br /> � does not havc to do so. .i�=����.-��:
<br /> Any amounts disbursed by L.ender under this paragraph 7 shall become additional debt of Bonower secured by this Security `':;�"r:��.�,,;.
<br /> • Instrumen� Unless Boaower and Lcndcr agrcc w othcr tcrms of payment, thcsc amounts shall bear interest from the date of ,,y�,�,;.
<br /> � disbursement at thc Notc ratc and shall bc payablc,with interest,upon noticc from Lender to Borrowcr rcquesting payment.
<br /> S.Mortgage Insurance. If Lender required mongage insurance as a condiuon of making the loan secured by this Security ''
<br /> � Instrument, Borrower shall pay th� prcmiums rcquircd to maintain thc mortgage insurnncc in effcc� If, for any rcason, thc
<br /> � mortgagc insurancc covcragc required by Lendcr lapscs or ceases W bc in cffect, Borrower shall pay the prcmiums rcquircd w •
<br /> ; obtain coverage substantially equivalent to the mongage insun�nce previously in effect,at a cost substantially equivalent to the
<br /> , cost to Borrowcr of thc mortgagc insurancc previously in cffcct, from an altcmatc mortgagc insurcr approvcd by C.cndcr. If
<br /> substantially equivalent mortgage insurance coverage is not available,Borrower shall pay to I..ender exch month u sum equal to
<br /> one-twclfth of the yearly mortgage insurance premium bein� paid by Bonower when the insurance coverage lapsed or ceased to
<br /> ' be in effcct. L.cndcr will accept, use and retain thesc payments as a loss rescrve in licu of mortgage insurancc. L,oss reserve
<br /> Form 3028 9/90
<br /> �•8R(NE)19z�z1�oi aage 3 ot e �niueu:
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