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<br /> � 5.Har.ard or Property Insurance. Borrowcr shall kecp thc improvcmentc now cxispng on c�rcaftcr crcctcd on thc Property r
<br /> � insurcd against loss by fue, hazards included within ihc tcrm "cxtcnded coveragc" and any othcr ha•r�rds. includinb floods or ; -
<br /> ' Rooding,for which I.ender requ'ues insurance.This insurance shall be maintained in the amounts and far the periods that Lender j
<br /> rcquucs.Tt�c insurance�ricr providing thc insurance shall bc choscn by Bonowcr subjcct to l.�ndcr's epproval which shall not CO
<br /> bc unrcasonably withheld. I!Borrower fails to maintain cavcragc described above, Lcndcr may, at Lcndcr's optian, abtain�' _
<br /> covecage to protect Lender's rights in the Property in accordenee with paragraph 7. ,
<br /> All insurence policies and renewals shall be acceptable to I.ender and shall include a s�andard mortgage clausa L.ender shall y„�
<br /> have thc right to hold thc policies and renewals. If Lender rcquires,Sonowcr shall promptly givc to Lcndcr ell rcccipis of paid C I �
<br /> premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.Lender F1 .
<br /> may makc proof of loss if not made prompdy by Borrowcr. W � �x�'-T
<br /> Unless I..ender and Borrower otherwise agree in writing,insurance procecds shall be appGed to restoration or repair af ihe N i
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<br /> Property dam�ged.if the reswration or repair is cxonomically feasible and Lender's security is not lessened. If the restoradon or� '• .
<br /> repair is not economically feasible or Lcnder's securiry would be lessened, the insurance proceecis shall bc applied to thc sums -
<br /> sccured by this Security Instrumcnt, whethcr or not then due, with any cxcess paid to Borrower. If Borrawer abandons thc "'�-°. "-'°`
<br /> Propecty,or does not answer within 30 days a notice from Lender that�he insurance carrier has offered to settle a claim,then
<br /> Lender may collcxt the insurance proceeds.Lender may use the proceeds to repair or restore the Property or to pay sums secured �
<br /> by this Securiry Instrument,whether or not thcn due.The 30-day period will begin when the nopce is given. _---
<br /> Unless Lender and Borrowcr otherwisc agree in writing,any application of proceeds to principal shaU not cxtend or postpone
<br /> the duc date of the month[y payments referred tn in paragraphs 1 and 2 or change the amount.of thc paymcnts.If undcr paragraph
<br /> 21 the Property is acquired by Lender, Borrower's ri�ht to any insurance policies and proceeds resulpng from damage to the �--
<br /> Property prior to the acquisidon shall pass to Lender to the extent of the sums secured by this Security InsUument immediately
<br /> • � prior to thc acquisition. _
<br /> 6.Occupancy,Preservation,Maintenance and Protection of the Property; Borrower's Loan Applicatton;Leaseholds.
<br /> Borrower shall occupy,estabGsh,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> tfiis Securiry Instrument and shall continue to occupy the Property as Bortower's principal residence for at least one year after the
<br /> date of occupancy, unless I.ender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless
<br /> extenuating circumstance.4 exist which are beyond Borrower's control.Borrower shall not destroy,damage or impair the Property,
<br /> aUow the Property W deterioratc, or commit waste on the Proper[y. Bozrower shuU tx ui dafault if a�y forfciturc action or ==���- 'L�-�.;
<br /> ' proceeding,whether civil or criminal,is begun that in Lender's good faith judgment could result in fodeiture of the Property or �, .
<br /> otherwise materially impair the lien created by this Security Instrument or Lender's securiry interesG Borrower rnay cure such a :
<br /> default and reinstate, as provided in paragraph 18,by causing the action or proceeding to be dismisscd wilh a n�ling that, in •.`��• �
<br /> L,ender's good faith determination,precludes forfeiturc of the Borrower's interest in the Roperty or other matetiail impairment of '�'�•
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<br /> the lien created by this Security Instrument or Lender's securiry interest Borrower shall also be in default if Barower.during the . �c...
<br /> loan appGcation process,gave materially false or inaccwate information or statements to Lender(or failed to provide Lender with �
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<br /> any muterial information) in connection with the loan evidenced by ihe Note. including, but not limited to. representadons :�_ ��
<br /> conceming Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a lcasehold,Borrower „� ..�
<br /> � shall comply with all the provisions of the lcase.If Borrowcr acquires fce tiUc to the Property,the lcaschold and thc fee dde shall ,�t�y , --
<br /> ' not merge unlcss L.cndcr agrccs to thc merger in writing. �`��'�.';''.�; �
<br /> 7.Protectlon of Lender's Rights in the Property. If Borrower fails to perform the covenanu and agreements contained in �,�'�r.�. ��,
<br /> this Seaurity Instrument,or Ihere is a legal procecding that may sign�candy affect Lender's rights in the Pro�erty (such as a _~�°gf�T•�
<br /> proceeding in bankruptcy,probate,for condemnauon or forfeiture or to enforce laws or regulations),then L.ender may do and pay . , .; _�-�-�_
<br /> for whatever is necessary to protect the value of the Properry and Lendcr's rights in the Property.I.endcr's acuons may include , ' .. _ -
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<br /> �.E- paying any sums secured by a lien which has priority over this Security Instrument,appearing in court,paying reasonable
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<br /> ' attomeys' fees and entering on the Property to makc rcpairs.Although Lender may takc acpon under this pazagraph 7, Lender ;�� ���°����-
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<br /> docs not have to do so. •'��•�� �
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<br /> ' My amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower sccured by this Security ��Y�r:. '�.:
<br /> InswmenG Unless Borrower and L.cnder agrce to other terms of paymcnt,thcse amounts shall bear interest from the datc of � . �. ;"" �
<br /> disbursement at thc Notc ratc and shall be payable,with intcrest,upon notice from Lendcr w Borrowcr requesvng paymcnG �"
<br /> 8.Mortga�e Insurance. If Lcnder rcquired mortgagc insurance as a condition of makin�thc loan securcd by this Security ,
<br />- Instrument, Borrowcr shall pay ihe prcmiums required to muintain the mortgage insurance in effccG If, (or any reason, the �
<br />_. ' mortgage insurance covera�e requircd by Lender lapses or ccases to be in effect,Barrower shall pay the premiums mquired to
<br /> obtain coveruge substantizlly equivalent w the mortgage insurance previously in effect,at a cost substantially equivalent w the
<br /> cost to Bonowcr of thc mongagc insurance previously in cffect,from an altcrnatc mortgagc insurcr approvcd by Lcndcr. If I
<br /> substanaally equivalent mortgc+ge insurance coveragc is not available. Borrower shall pay to Lendcr each month a sum cqual to
<br /> one-twelfth o!the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br />� be in effect. Lender will accept, use and rewin these payments as a loss reserve in lieu of mongage insurance. Loss reserve `
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<br /> Form 3028 OI90 I
<br />- �o•8R(NE)lezi z�.o� aage a oi s ��niaia: �
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