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<br /> S.tlAZprd or Property Inaut�. . .b. Borrowcr shAll kecp thc improvcmcn4s n�isting on c�rcAf'tct crcctcd on thc Property � �
<br /> insured against loss by t"uc,htu.ards includcd wilhin thc tcrm "extcncicd covcragc" and any othcr har.ards, including tloods or � __
<br /> ticx�ding,for which Lender requires insurance.'lt�is insurnnce shall b�: maintained in the amountg and for the period.g that Lender ---
<br /> rcquires.Thc insurancc carricr providing ihc insuranca shall bc chos�n by liorrowcr subjcct[o l.endcr's epp,•oval which shall not °_
<br /> bc unrcasanably withhcld. If Bonowcr fuils to maintain covcr8gc dcscribcd abavc, Lendcr may, at Lcndcr's opdun, obtai� �
<br /> covcragc to protoct Lcndcr's rights in thc Property in accordencc with ParnBrePh 7. � Y
<br /> '� All insuranes poUcies and renewals shell bc acccptable w l.cnder and shall includc a standard mortgage dause.L.cnder sh� �_
<br /> � hava the right to hold the policies and renewals.If Lender requires,Sorrawer shall prompdy give to L.ender nll receipts of pa�,
<br /> nremiums and renewel nodces.In the event of loss,Borrower shall give prompt natice w thc insuruncc carrier and Lendcr.L.cndc�.► .
<br /> may meke proof of loss if not made prompUy by Bomower.
<br /> Unless I.ender and Borrower othcrwisc agree in writing,insucance proceecls shaU be applied to restoradon or rcpair of th ..._;*�:
<br /> propertyr damaged,if tho re.ctoradun or repair is economicaUy feasible and Lender's securlty is not lessened. If the restoration oCJ _ -- '
<br /> repair is not economically fea4lble or L.ender's securlry would be lessened,the lnsurance proceeds shall be applied to the sums _
<br /> secured by this Securlty Instrument, whether or not then due, with any excess Paid to Borrowcr. If Borrower abandons the _ _ �
<br /> P r o p e r t y,or docs not answer within 30 days a nouce from Lender that tho insurance carricr has offercd to seule a claim,then
<br /> Lender may collect the insurance proceeds•1-ender may use the procceds ta repair or restore the Property or to pay snms secured
<br /> by this Securlty Instrument,whether or not then duc.'I1�e 30-day period wiU begln when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in wrltir►B,enY aPPUcadon of proceeds to principal shall not extend or postpone
<br /> the due datc of the monthly payments referrcd to in paragr�►phs 1 and 2 or change the amount of the payments,If under paragraph
<br /> � ?,1 the Property is acquired by I..ender, Borrower's right to any insurance poUcies and proceecls resulting from damage to the ,.i:,,,.-
<br /> ' Property prior to the acquisidon sliall pass to Lender to the exuent of the sums secured by this Security Insuument immediately :
<br /> prior to the scqulsIdon. '
<br /> � 6.Occup�ncy,Preservxtion,Mxinten�nce and Protection ot the Property; Borrower's Loan AppUcation;Leasedolds. �r.''
<br /> Borrower shall occupy. establlsh,and use the Property as BoaowePs princlpal residence withit►sixty days after the execudon of �j��,_
<br /> . this Security Insuument and shall condnue to occupy ihe Property as Borrower's principal residence for at least one year after the �,,;��;_, ��
<br /> um
<br /> '�' date of occupancy,unless Lender otherwise agrees in wridnB. whlch consent stiall not 6e unreasonably withheld,or unless �i�!� _
<br /> — �;,���g���m�tssss;�s�.�clst whirh nre heyond Borrower's control. Bonower shall not destroy,damage or impair 1he Property. ,:��;
<br /> allow the Propercy co deteriorate,or commit waste on the Property.Borrower shaU be in default if any forfeiture acnon or << •�'�
<br /> proceeding,whether civll or criminal,is begun that in Lender's good faith judgment could result in forfeitaue of the Property or =:�
<br /> otherwise materially Impair the lien created by this Se,curity Instrument or I.ender's security interesG Borr�ower may ctue such s 3:�4���<<�
<br /> default and reinstate, as provided in paragraph 18, by causing the acdon or proceeding to be dismissed with a ruUr►g that, in t -�—
<br /> Lendex's goad faith determinadon,pre�ludes forfeiturc of the Borrower's interest in the Property or other materlal impaim►ent of �_�
<br /> the Ilen c r e a t e d by i h i s Sec u r l ty In s t r u m e n t o r I.e n d e r's s e c u r i ty i n t e r e s G B o r r o w e r s h e l l a l s o b e i n d e f a u l t if Borrowar,durin g the �
<br /> loan applicadon proccss,gave matcrIelly false or inaceurate information or statements to Lender(or failed to provide Lcnder wlth ,; _
<br /> � any material informadan) in connecdon with the loan evidenced by the Note, including, but not limited co. representations , `�
<br /> conceming Borrower's occupancy of ihe Property as a principal residence.If this Securlry Instrument is on a leasehold,Borrower �����_
<br /> shaU comgly with all the provisions of the lease.If Bonower acquires fee ude to the Property.the leasetiold and the fee dtle shall �*—�-
<br /> � not mcrge unless Le,nder agrce�to the merger in writing. -----
<br /> 7.ProteMion of Lender's Righte in the Property. If Borrower fails to perform the covenants and agreements contained in =---
<br /> this Sccurity Instrument,or there is a legal proccedln8 that may signif'xcandy affect Lendcr's rights in the Property(such as a �-
<br /> proceeding in banktuptcy,probate,for condemnauon or forfeiture or W enforce laws or regulations),then L.ender may do and pay ____
<br /> � for whatever is necessary co protect the value of the Property and L.ender's rights in the Property.Lender's actions may inctude _
<br /> t paying any sums sccured by u llen which has priority over this Security Instrumen t, ap p e a r i n g i n c o u r t.P a Y i n B r e a s o n a b l e ==� .
<br /> �• attomeys' fces end entering on the Property to make repairs. �►lthough L.ender mey talce action under this paragraph 9,I.ender ::f�,;,,.��_�
<br /> does not have to do so. .�����
<br /> ° Any amounts disbursed by Lender under this paragraph 7 shaU become additional dcbt of Borrower secured by this Sccurity __�
<br /> � InstrumenG Unless Borrower and Lcndcr agree to other terms of payment, these amounts shall bear intcrest from the date of .;;a -�;
<br /> disbursement at the Notc rate and shall be payablc,with interest,upon notice from L,ender to Borrower rcquespng paymcn� . . :•.�`.��
<br /> 8.Mortgage Insurance. If Lender r uired mortgage insurance as a condition of making thc loan securcd by this Security '.y�Si:�,� ���
<br /> � �i.�R`.�,,.,f,'-','«�:.,
<br /> Instrument, Borrower shall pay the premiums required to maintain the mortgage instuance in effec� If,for any mason. tha , ,.,.. .•T.. . i�.
<br /> mortgage insurance coverage required by L.ender lapses or ceases co be in effect,Borrower shall pay the premiums required to ,
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<br /> obtairi coverage substantially eq�ivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the : .
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altenate mortgage insurer approved by Lender. If , .
<br /> substantially equivalent mortgage insurance coverage is not availeble,Bonower shall pay to Lendcr each month a sum equal to
<br /> one-twelfth of the yeacly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect Lender will accept, use tmd retain these payments as a Ioss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 91�0
<br /> �-8R(NE)caz�z).oi Pape 7 ot 8 �""�a�':
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