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<br /> � .. S. Ha7ard flr Propert�y Insarance. Borrower shall keep the improvements now eaisting or her�ftcr erected on the �`•, .< ' , '�
<br /> ',•` f , ' ` F°. Property insured against loss by fire.hazards included within the term 'extended coveragc"and any other haiards. including . ;``°`. `
<br /> � � " . floodc or tlooding. for which I.ender requires insursnce.This iasurancc shall be maintaincd in the amounts and for the periods ; ' �
<br /> �•, � � tGat Lxnder requires. The insurance carrier providing thc insurance shall be chosca by Borrawer�ub,{ect to Ixndcr'r appn�val •
<br /> ' °`�,-.-` which shall not be unreasonably withfietd. If Bonower fails to maintain wverage describcd above, Lender may, at Lendei s �. `
<br /> _ ---^"t'" option,obtain wverage to protect Lender s rights in the Property in accordance with paragraph 7. ' F . '_
<br /> � - -��=. Ail insurance policies astd renewals shall be accepfaWe to [Qrulcr and s[�all include a staadard mortgage clause. Ler�der ; �°-----
<br /> � shall have the right to hold the policies and renewals.If Lxnder requires.Borrower sha11 promptly give to Ixnder all mceipts of � `� �•
<br /> : .�°'' . . ..�, .. :: ,: �'• ; '.> �. •�
<br />= paid premiums and renewa!notices. In the event of toss,Bomnwer shail give prompt notice to the insuiance carrier an+d Lender. ,. :_ _
<br /> • , Lender may make proof of loss if rrot made promptly by Borrower. �<<.•• � �
<br /> � '� Unless Lender arid Borrower othemise agree in writing,insurance praceeds shall be applied to restotation ar repair of the ' �•-w-
<br /> `-.W!.
<br /> � � P�operty damaged,if the restoracion or repair is eoonomically feasible and Lender's security is not lessened.If the restotation or • � _ ;�;�-
<br /> _ � - • ,� repair is not economiral{y feasible or Lender's security would be lessened.the insurance proceeds shall be applied to the sums ,. � '"„ i=_s-.
<br /> ` secured by this Security Insmemen�whether or not then due, with any excesc paid to Borrower. If Borrower abandons the , , - _- _
<br /> ,, • ' ' Properry,or does not answes within 30 days a notice from Lender that the insurance carrier has offered to settle a ctaim, then - -�—
<br /> � _ , r:;:,:;� % Lender may collect the insurance pmceeds. I.ender may use the praceeds to repair or restore ihe Property ar to pay sums .. �
<br /> sxured by this Security Instrument,whether or not then due.The 30-�day periad wil!begin when the notice is given. . ' '
<br /> ..._�._ .° .
<br />` ' ' - . Unless Lender and Borrower otherwise agree in writing, any application oi proceeds to principal shall not e�ctend or ----
<br /> - ' r: postporte the cfiue date of the monthly paymeats referred to in paiagraphs t and 2 or change the amount of the payments. if . ''-`" ---
<br /> . - -.�, ...-
<br /> ' � � under paragraph 21 the Property is acquired by Lender.Borrower's right to any insurance policies aad proceeds resulting from . ;
<br /> ':�;N"r '- damage to the Property prior to the acquisition sha}I pass to Lender w the extent of the sutns secured by this Security Insuument = __ -_—
<br />_ .. . _:,:;,t,... ::•�:�� :. '-`
<br /> ` F t`�- immediately prior to the acquisition.
<br /> �i` 6.Occopancy,Preservat�oa,Maintenance and 1ProtccUon of the Property;Borrower's Loan ApplIcatton;I.easeholds. � _ __--
<br /> � � � Borrower shall occupy,esstablish,and use the Properiy as Borcower's principal residence within sixty days after the execution af i `';``�?��
<br /> , �-• ��_� this Security Inswment and shali continue to occupy the Propecty as Borrawer's principal residence for at least one year after -- __ _
<br /> :.. '°'. � "°,� the d�ate of occupancy,uciless Lender otherwise agrees in writing,which consent shall not 6e unreasonably withheld,or untess �_ _? "—�-
<br /> extenuaung circumstances exist which are beyond Borrotiver s cantrol. Borrower shall not destroy,•damage�or impair the ,;,x�.::._.
<br /> ':� � _ _ Property, allow the Property to deteriorate. or commit waste on the Property.Borrower shaU be in default if any forieiture ;<`T'`;+.
<br /> , - � action or proceeding,wh�her civil or criminal, is begun that in Lender s good faith judgment could result in forfeiture of the .�� r�''"`��
<br /> r,
<br /> r � , ,. . Property or otherwise materially impair the lien created by this Security Instrument or I.ender's security interest.Bonower may , .��..'%'�;;�— --
<br /> ;�:•5�,.
<br /> . - cure such a default and reinstate,as provided in paragraph 18,by causing the action or pmceeding to be dismissed with a culing �..,f,-�.�_��.,..�;-:_
<br /> • - that. in Lender's good faith determimation, precludes forfeiture af the Borrower's interest in the Property or other ma:arial ���;'"'����
<br /> . ,.-��;
<br /> , 3 impairment of the lien created by this Securiry Instrument or Lender's security interest. Borrower shafl also be in default if • '_ �
<br /> . . �. ' -; Borrower.during the loan appliqtion process,gave materially false or inaccurate informatian or statements to I.ender(or ftxiled "� '`'-.�-
<br /> - . -- - to provide Lender wish any material information)in connection with the loan evidenced by the Note,including,but not limited • • �,�.
<br /> • � ; �' to,representations wnceming Borrower's occupancy of the Property as a principal residsnce_If this Security Insttument is on a • . .��'��'a�t�=:
<br /> � _ ���� leasehold. Borrower shall comply with all the provisions af the lease. If Borrower acquires fee title to the Property. the � � ��;Y�-...
<br /> ' leasehold and the fee titte shall not merge unless L.ender agrees to the merger in writing. � � �:"���-
<br /> 7.Proteetion of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in �T�'�
<br /> . . . � .. --
<br />- . � . . this Securiry Instrument,or there is a legal proceeding that may signiiicantly aifeet Lender s righu in the Property (such as a • �• �� .���=
<br /> � . proceeding in bankruptcy.probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and ,' � '�-��
<br /> ' ' . ' pay for whatever is necessary to protaet the value of the Propem and Lender's rights in ihe Property. Lender s actions may � � . ' �
<br /> _ . '; include payin�any sums secured by a tien which has prioriry ui•er this Security Instrumeni. appearing in court, paying _ :°� .'.��t°�
<br /> ceasonable attomeys'fees and entering on the Property to make repairs. Although Lender may takc action under this paragraph . ��
<br /> � -- -
<br /> � 7.Lender does not have to do so. �. � ��� '
<br /> - . .� •'•-�.
<br /> " � Any amounts disbursed by l.cnder under this paragraph 7 shall become additional debt of Borrower secured try this �. —
<br /> �• • � Security lnstrnment. Unless Bonower and Lender agree to other terms of payment, these amounu shall bear interest from the ,. '' '�''"'�'""�
<br /> . '�,1:��<<.�-:�--
<br /> , . � date of disbursement at the Note sate and shall be payable, wi[h interest, upon notice frcrc� Lender to Borrower requesting • � - ,
<br /> . payment. ,
<br /> ' S.Mortgage Insvrartce.If Lender required mortgage insurance as a conditian of making the loan secured by this Security �• .
<br /> �� . Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. if, for any reason, the
<br /> •:.,.� mortgage insurance wverage required by L.ender lapses ar ceases to be in effect. Barrower�hall pay the premiums required to " . ;;"r:� '.
<br /> � � ubtain coverage substantially equivalent to the mortgage insurance previousty in effect,at a cost substantially equivalent to the '" � . �
<br /> . • cost to Barrowcr af the mortgage insutanre previously in effect. fram an altcmate mortga;e insucer approved by l.ender. if � . � � .
<br /> `' substantialiy equivalent mortgage insurance coverage is not availabt..Borrower shall pay to Lender each month a sum equal to : '
<br /> ane-tweifth of the yearly mortgage insurance premium being paid by Bortower when the insurance coverage lapsed or ceased to �
<br /> be in effect.l.ender will accept.use and retain these payments as o loss reserve in lieu of mart�age insurance. Loss reserve ,
<br /> • � Porm 3028 9190 '" ' ' ,_
<br /> - �agn 3 ot 6 � . ' •
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