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<br /> � liazsrd c�r Property Insursnce. Borrowar shaU keep the improvemCnt�now existing c�r hereefter erected an i
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<br /> � the Property inau;edi g ann<1O��f which 1 enderdrequi ese nsurance.hThis irisurance hall be mainta ned�n the m����
<br /> � includin� flo�ds g I,
<br /> � and for the periods that I,ender requirc.w. The insurance carrier pmviding che insurance shall be chosen by Aorrower
<br /> subject to I.ender's approval which shall not be unr eas8 eabl�Y ��ot ct�l.ende�r'a rghtsiin�the Property n accordancerwb th�
<br /> ahove,l.ender may, ut I.ender s option,�btatn co g P
<br /> paragraph 7.
<br /> All insurance policies and rene�vals shall be acceptable to I.ender and shall incl�uorrowereshall�prompt yegi e to�
<br /> 1,ender shall have the right to hold the policies and renewala. If I.ender re�or o�wer shall give prompt notice to the� _
<br /> Ixnder all receipts of paid premiums and renewal notices.In the event of loss, _.
<br /> insurance carrier and I.ender.I-.ender may make prooi of loss if not maJe promptly by Borrower. ti� ,���
<br /> Unless Lender aned,f the restorationorgepair srecono'm caUy fea ibleand I-en�der's sec�Pirdlty s not less ned rIf tehe� _ - _�kJ
<br /> oi the Property dam g -- -
<br /> restoration or repair iu not economically ieasible or Lender's security would be lessened,the insurance pruceeds shall be �,_ __✓_�
<br /> applied to the sums s euPtf�d bf tht�sT does not anawer within 30 days a not hce from�I.ender that the,nsurancBcarr er hlas
<br /> Borrower abandons th pe :
<br /> offered to settle a claim, then Lender may collect the in�rance proceeds,Lender may use the proceeds to r!od ai l .
<br /> restare the Property or to pay sums secured by this Securit Instrument,whether or not then due.The 30'day pe �
<br /> begin when the notice is given. ,
<br /> Unless I-ender and Borrower otherwise agree in writing,any application of proceeds ta principal ahall not exten or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.
<br /> If under paragraph 21 the Property �s af q��1LO�th�ecqu s'ttio�Shall pass t Lender to the extent of the sums se.pcured y �
<br /> �. . resulting from damage to the Property p
<br /> this Security Instrument immediately prior to the acquiaition. licatian; -
<br /> 6.Occupaacy,Preservation,Msintenance and Protection of the Property; Borrow�r's Losn App '_ Tt.t
<br /> Lea�eholds.Borrower shall occupy,��bu�ment and shall c on inueat oa upyrtherPro�perty as Borrower's�princ pal
<br /> ' after the execution of this Security Instr
<br /> residence for at least one year oi'unless e�nuating c ccumstnen es xaet which a e beyond�Borrower�'s controlnBorro er
<br /> not 1�?tmrea��tlably withheld,
<br /> shall not destroy,damage or impair the Fropercy,aiiuw the Proper•whether civil or riminal,�is beg nthat nPLender s — �•— - -
<br /> Borrower ahall ba in default if any forfeiture action or proceeding, .'
<br /> good faith judgment could renult in forteitu teof�ihBor owerymay t ure ch a detalult nd tr instate, as prov dedh�n ,
<br /> Security Instrument or Lender's security in that, in l.ender s good feith
<br /> paragraph 18 by causing the action or proceeding to be dismissed �vith a ruleng N,.;
<br /> detcrmination,precludes forfeiture of the Borrowe u it interest LBorco�ver shall alsoe be n defaultpf lHorrowertdun'tng '.f;i,
<br /> created by this Security Instrument or I.ender s sec r y
<br /> the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to ���',i, '
<br /> ,:�x,r. �._
<br /> provide Lender�rtarions concern ng 9orr�ower's occupancy oflthe Property as anpr nc pal res►denceCIfahis�Security �� =
<br /> limited to, repr ��r��
<br /> ,�:.�t.r ��
<br /> Instrument is on a leasehold,Borrower shall comply with all the provisions of the lease.If Borrower acquires fee tit e to '�f
<br /> the Property,the leasehold and the fee title shall not merge unless I.ender agrees to the merger in writing. � _
<br /> 7. Protection of Lender s Rights in the Property. I4 Borro�ver tails to perform the covenants and agreernents
<br /> contained in this Security Instrument,b k u tc a t roba e�f�or�lcond amn t,on gor tfo telture�orLtodenfor eh awstor •�����
<br /> Property (such as a proceeding �n p Y P . ��'�'�`'
<br /> . regulations),then Lender may do and pay fo�whatever is necessary to protect the value ot the Property and Lender's !`
<br /> • rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this ;,.. �
<br /> Security Instrument,appearing in court,paying reasonable attorneys fe�s and entering on the Property to make repairs. � �- �.-
<br /> Although Lender may take action under this paragraph 7,Lender does not have to do so. �;,
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borcower secured by this f-_„t:
<br /> Security Instrument.Unless Borrower and Lender agree to other terms of payrnent,these amounts shall bear interest r..;.^��•
<br /> from the date of disbursement at the Note rate and shall be payable,wi th interest,upon notice from I,ender to Aorrower ._ �
<br /> requesting payment. ' . �
<br /> y 8. Mortgage Insuranee.If Lender reqt�ired mortgage insurance as a condition of making the loan secured by this
<br /> ;l Security Instri�ment,Borrower shall pay the premiums required to maintain the mortgage insurance in effect.It,for any
<br /> � reason, the mortgage insurance coverege requ�red by Lender lapses or ceases to be in effect,Borrower shall pay the
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<br /> i premiums required to obtain coverage substantially equivalent to the mortgage ins�rance previously in ef ect,at acos
<br /> 'i substantially equivalent to the cost to Borrower of the mortgage insurance previously in eftect, from an altemate
<br /> mortgage insurer approved by I.ender. If substantially equivalent mortgage insurance coverage is not available,
<br /> � I3orrower shall pay to I,ender each month a sum eq�ial to one-twelfth of the yearly mortgage inaurance premium bei ng
<br /> � paid hy Borrower when the instirance coverage lapsed or ceased to be in effect.I,ender will accept,use and retain these
<br /> paymen�s as a loss reserve in lieu of mortgage insurance. I,oss reserve payments may no longer be required, `
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<br /> Ferm 3026 )9��0 i
<br /> r.y.3 0� o Initlel�: iv
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