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<br /> �'�g or hereafter ere�ted on the
<br /> , ` or Pro erl Insarauce. Borrovrer shall keep the improvemen'[s� � �4:
<br /> � • � - 3. Hezard P Y � �
<br /> � . :' Property insurrd againsY toss by fim. harards induded�vithin the term "eatended coverage° and any other hazards, including .. �,',�
<br /> � � ttoods or floociing.far which Lender requires inwrance.'Ig►is insurance sha116e maintained in the amounts and for the periads s� . E � ,
<br /> � '. `'� that Lender requires.The insurance carrier providing the insurance shall be chosen by Bomower subject to I.ertder s approval . ''_4 : �� ,.
<br /> " � � `y , which shali not be unreasonably withhetd. If Borrower fails to maintain mverage described a6ove, l.ender may, at I.ender s 't Y• "r `
<br /> . -.._.t.. .�....:
<br /> � • •� aption,obtain cuverage to protect Ixnder s rights in Ehe Property in accordance with paragraph 7. . ' r � .
<br /> � � 'F�'.`"'�"���� All insurance policies and renewals shall be acceptable to Lender and shall inclade a standard mortgage clause. I.ender
<br /> . `L_. . S �
<br /> ��-� -" shaIl have tfie right m hold the policies snd renewals.If Lender requires,Borrower shall prompdy give to Lender a!1 receipts o f K__ � _
<br /> . �' . t, �
<br /> • � � ' paid premiums and renewai notices.ln the event of loss.Borrower shall give prompL notice to the insurance carrier and Lender.
<br /> ' t l.ender may make proof of toss if not made prompdy by Borrower. `` � •��?
<br /> - ' 4 LJn(e�s I,ender and Borrower otherwise agree in writing.insurance pmceeds s1�at1 be applied to restoration or repair of the •:�,_•�:.° `l,.:'
<br /> `. . ` p►nperty damaged.if the restoratioa or repair is economically feasible and I.ender's security is not lessened.If the restoration or -
<br /> , , .• , �. . ' repair is not economically feas�le or Lender's security would be lessened,the insurance proceeds shall be applied to the sums �� ;
<br /> �. • secured by this Security Instrument. whetl�er or not then due, with any excess paid to Borrower. If Borrower abandons the `•'"�'
<br /> ;, , - property,or does not answer within 30 days a notice from Leader that the insnrartce c�rrier has offereci to settle a c(aim.t6en ''��`��'�
<br /> .�- .<
<br /> � � I.eader may collect the insurance proceeds. Lender may use the proceeds ta repair or restore the Praperty or to pay sums ;-� `
<br /> � secured by this Security lnsstrument.whether or not then due.The 34day period will begin when the notice is given. s.; �-m�_
<br /> - ' ` , Unless Lender and Sorrower otherwise agree in writing, any application of proceeds to principal shali not extend or . �� .
<br /> - .� _ postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If r—-
<br /> - under paragraph 21 the Property is acqaired by[.ender. Borrower's right to any insurance policies and praceeds resulting from -_ ,
<br /> ' ` : �. �(' damage to the Property priar to the acquisition shall pass to l.ender to the extent of the sums secured by this Serurity Instruir.ent `�
<br /> .,�
<br />_ � . - immediateiy prior tothe acquisition. r . ';-_-=�-
<br /> _._ . . .._ _ 6.�p��,��ation,Maintenaace and Protectton of ttte Property;Borrower's Lorin Appltcatton;Leasehold9. ����
<br /> .� � Borrower shal!occupy, establish,and use the Property as Borrower's principal res'sdeuce within sixty days after the execution of �" Y ��ti
<br /> . . : this 5ecuriry Instr�ment and stiaU continue to occupy the Property as Borrower s principal residence for at least one year after � �,��.e�;;
<br /> the date of occupancy, unless Lender otherwise agrees in writing.which consent shall not be unreasonably withheld.or unless :•�-_'_"�==�
<br /> �� -� ' �-���� eatenuadng circumstances exist which are beyond Borrower's controt. Eorrower shall not desaoy, damage or impair the „ =�: �;�;"
<br /> ` Property, allow the Property to deteriorate, or cnmmit waste on the Propercy. Borrower shall be in default if any fosfeiture .�,��• `
<br /> .•. .�. action or proceeding.whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the •a��=
<br /> ' ., •� Property or otherwise materially impair the lien created by this Suvriry Insuument or Lender's securiry interest.Bortnwer may , ��_�+°•
<br /> -. - care such a deEanit and reinstate,as provided in paragr-aph 18,by causing the action or proceeding to be dismissed aith a niling `��,,�., �.-`�'�.___
<br /> '- � `.- that, in lxnder's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material ,�; �;t�,�:�
<br /> .;l- �. . . , , :�r':
<br /> - ,• • �i impairment of the lien created by this Security Instrument or Lender's security i:uerest. Borrower shall also be in default if : ;,, .
<br /> .. . ..:�'� Borrower.during the loan application pracess.gave materially false ar inaccurate informadon or statemenu to LeYtder(or failed �
<br /> " � ;�';y;,:: '� to provide l.ender with any material information)in connection with the loan evidenced by the Note.including,but not timited : �
<br /> " -"�•�i��%r to,representations conceming Borrawer's occ�pancy of the Property as a principal residence. If this Security Instrument is on a .:
<br /> . >'�,.��. : occ . ,
<br /> '�""• leasehold. Borrower shall comply with all the provisions of the lease. If Boaower acquires fee title to the Property. the , ,,.yj�
<br /> .. � ' leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ''~ "�
<br /> , � _ � 7.Protection of Lender's Righ3s in the Property.lf Borrower fails to perform ttw covenants and agreements comained in . :����
<br /> � this Securiry Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a � .. �„=R-
<br /> • �. ..�,�, ' proceeding in bankruptcy.probate, for condemnation ar farfeiture or to enforce laws or regulations).then Lender may do and -__—__ _
<br /> . pay for whatever is necessary to protect the value af the Property and Lender's righta in the Properly. Lender's actions may .' •��_ __
<br /> �` " - •� - include paying any sums secured by a lien which has priority over this Security Instrument. appearing in caurt, paying _ ' �.
<br /> ,
<br /> ;:;�...:.., .. � reasonabte attomeys'fees and entering on the Propecry to make repairs.Although Lender may take action under this paragraph _. • -
<br /> � , ' . � 7.Lender daes not have to do so. ' . .:: �� ' '
<br /> . Any amounts disbursed by I.ender under this paragraph 7 shafl become additional debt of Borrower secured by this ,��•. .::�'� �-
<br /> '" . . ' : ' Security Instrument.Unless Borrawer and Lender agree to other terms of payment,these amounts shall bear interest from the � � '�+`
<br /> -•.. . ' date of disbursemcnt at the Note rate and shall be payable, with interest. upon notice from Lender to Boaower requesting . . �, .. .
<br /> . . � _.. , payment. � � . .
<br /> � S.Mort�age Iagurance.lf l.ender required mor[gage insurance as a condition of makin�the loan secured by this 5eturity �_ ":
<br />. ' . Instrument, Bonower shall pay thc premiums required to maintain the mortgage insurance in effect. If. for any reason, the •
<br /> � mongage insurance coverage required by Lender Iapses or ceases to be in effect.Horrower shatl pay the premiums required to .
<br /> • < . obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a wst substantially equivalent to the •
<br /> � cost to Borrower of the mongage insurance previously in effect, from an altemate.mortgage insurer approved by Lender. If . '
<br /> �. •• . substsuitially equivalent mortgage insurance wverage is not availabte. Borcower shall pay to L.ender each month a sum equal to ':
<br /> • . . ' one-twelfth of the yearly mortgage insurance premium bein�paid by Borrower when the insurance coverage lapsed or ceased to �
<br /> • be in effect. Lender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve � •
<br /> , � ' � Form 3028 9180 • �
<br /> , � Pago 3 0l 0 � ' � .
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