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<br /> �� ��- 5. Ha7ard'or Property Iusarauce- Borrower shall keep the impmvements now existis�g or hereafter erected on the ;. ., ,,,
<br /> ' Property insured against loss by 5re.t�aaards included within the term'extende�covcrage"and any other ha�ards.including � - ��:•;�.'.
<br /> � ' • , � floods or flood'tng,for which Leuder cequires insurance•Th�s insurance shall 6e maintained in th$amounts and for t6e periods ' �.��� '
<br /> , � �f:,�= that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to L�ler s approval �- .°}-;� ,.�`�'
<br /> ;--��'' which shall nnt be unreasonably withheid. If Borrower fails to cnaintain caverage described above, Lender may, at Lender's ��F°�� ,
<br />--,��_.._� option.obtain coverage to protect I.ender's righu in the Qropeny in acoordance with paragraph 7. . � � `
<br /> _ All insurance policies and renewals s6all be acceptable to I.Qnder and shall inciude a standard mortgaSe clause- L�ndet , ,`': `�`'
<br /> , � shall have the right to hotd the policies and renewals.If Lender requires.Borrower shall pmmptly give to L.ender all reoeipts of - ��
<br /> � � paid premiums and renewal notices.In the event of toss,Borrower shal!give prompt norice to the insurance carrier and Lender. '��) ��• °' .
<br />: , � ' Lender may make proof of loss if not made prompdy by Borrower. � -'� _
<br /> ' Unless Leader and Borrower otherwise agree in a�riting. insurance proceeds shall be applied to restaration or repair of the � _ �.
<br /> > � �� . property damaged,if the restoration ar repair is econamiraUy feasibte and L.euder's seia�rity is not tessened.If the restoration or � . .-;,��;.._�_r_
<br /> • � repair is rtflt eoonomically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums � . �� ; „
<br /> . secured by this Serurity Instrument,whether or not then due,with any excess paid to Borrower. If Barrower abandons the � , `.'., �"�:'�.
<br /> Property. or does not aaswer within 30 days a notice from Lender that the insurance carrier has offered to s e tt le a c laim,t hen � ,,,. �:� _
<br /> .. . Lender may collect the insurance pmceeQs. Lender may use the proceeds to repair or restore the Property or to pay s�sns � `�..�•.�v`- t'�_��
<br /> � � " secwed by this Security Instrument,whether ar not then due.The 30-day period will hegin when the nodce is ven. �i �' � ' '• __
<br /> 8� �- .. . ._
<br /> :'w � �" . Unless Lender and Bn�rower othemise agree in wriring, any application of proc�cls to principal shall not extend or
<br /> ,- � `' ` �, postpone the due date af the monthly paymenu refeired to in paragraphs 1 and 2 or change the amount of the payments. If ����.:� _�"'�_
<br /> Y . .�. . . under Qaragraph 21 the Propecty is acquired by Lender.Borrower's right to any insurance policies and praceeds resulting from `..';;;.�_-
<br /> ga
<br /> __. � .._ damage to the Pmperty prior to the acquisition shaU pass to l.ender to the extem of the sums secured by this Security Instrument '•_�`�r�
<br /> ` , . '` • immediately prior to the acquisition. ' '4'—
<br /> .� A_ _
<br /> � � 6.Qccupanty, Preservation,Malatenance and Protedion of the Propert9;Borrower's Loan Appticat�on;I.easeholds. • r. -
<br /> �--_�_R
<br /> '.y(:.:..�:��:
<br />�_ ' Borrower shall oa;upy.establish,and use the Property as Borrower's principal residrnce wittun sixty days after the eaecution of . .: �_..µ__ -.
<br /> _ �. . _ � � this Security Instntmeat and shall wntinue to occupy the Property as Borrower's principal resideace for at leasi one year after __;°' "
<br /> �
<br /> �-. . -- the date of occupancy.unless Lender otherwise agrees in writing.which consent shall not be unreasonably withheld,or wilesy - ;; ,.�i�.-.
<br /> , extenuating circumstances exist which are beyond Borrower s wntral. Borrow'e; shall not destroy. damage or impair the -��-_
<br /> � , � Property. allow the Property to cteteriorate. or commit waste on the Property.Barrower shall be in default if any forfeiture � : ___ -
<br /> � • action or proceeding.whether civil or criminal.is begun that in Lender's gaod faiti�judgmeat could result.in forfeiture of the • �� . ____
<br /> �� � ` ' .I Property or othenvise materially impair the lien created by this Seca :� Instrument os Lender s security interest. Boaower aray . . `� -
<br /> � •�.�; cure such a default and reinstate,as provided in paragraph 18,by causing the action or praceeding to be dismissed with a ni?� ;, '`� �':�=
<br /> � � ; �a that. in l.ender's goad faith determination, precludes forfeiture of the Borrower s interest in the Property or otlter material � .� ' ., �:'�:
<br /> � :.:� impaicment of the lien created by this Security Instru�nt or Lender's seevrety intemst. Borrower shall also Q�e in default if _ � E��,'-�• _
<br /> _ Borrower,during the loan appJication pracess,gave materially false or inaceurate iaformation or statements co Lender(or faited �'�'
<br /> �:.
<br />, � � to provide Lender with any material information}in connection with the loan evidenced by the Note,including.but not limited • ._--.-
<br /> , . ,�` to,representatiuns conceming Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a .`&.�<i'"�
<br /> • � �.:r. leasehold, Borrower shall wmply with till the provisions of the lease. If Borrower acquires fee title to the Property. Yhe , � ;,�;���
<br /> - ? i � leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ". ���=�
<br /> .:, �m=.
<br /> �� . � `' 7.Protectfon o!l.ender's Iiights in the Properiy.If Borrower fails to perform the wvenants and agreements wntained in . =-
<br /> � - • , „ . this Securiry instntment.or there is a legal proceeding that may sipiificantly affect l.ender's rights in the Property(such as a : - - _ _____
<br /> proceedin�in bankruptcy.probate,for condemnation or forfeit�rre or to enforce laws or regolations),then Lender may do and
<br /> �.:
<br /> _ � pay for whatever is necessary to protect the vatue of the Property and Lender's rights in tfie Property. Lender's actions nay - _�`
<br /> �- include paying any sums secured by a lien which has priority over this Security Instrument, appearing in eourt. paying _ ' '`r_=
<br /> � � ' reasonable attomeys'fees and enterin�on the Property to makc repairs.Althougt►Lender may take action urtCer this paragraph �•: +, � `.
<br /> ` 7.Lend�r does not have to do so. � - .` �� �
<br /> � ,.��:, .,:.,
<br /> � Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secured by this , :�,:;,;.'"-.
<br /> � � Security Instrwment. Unless Borrower and Lender agnee to other terms of payment. these amounu shall bear interest from the �. .
<br /> � date of disburscment at the Note rate and shall be payable, with interest. upon notice from Lender to Borrawer requesting • , _ � �
<br /> . ;_ payment. , . .
<br /> • ' .� 8.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Securiry . :
<br /> - • Instrument. Harrower shall pay the premiums required to maintain the marlgage insurance in effect. If. for any reason, the ,
<br /> . : ' � mortgage insurance coverage required by Lender Iapses ar ceases to be in effec4 Borcower shall pay the premiums required to .
<br /> . .
<br /> • ,. • . '(. obtain coverage subst�ntially equivalent to the mortgage insurance previously in effect.at a cost substantially equivalent to the .. :
<br /> t cost to Born�wer of the mortgage insurance previously in effect. from an altemate mortgage insurer approved by Lender. lf
<br /> . . + . , .
<br /> . ' substantially equivatent mortgage insurance caverage is not available.Bonower shall pay ta Lender each month a sum equal to ..
<br /> one-twelfth of ihe yearly mongage insurance premium bcing paid by Bonower when the insuranx wverage lapsed or c,eased to ,�
<br /> � ' be in cffect. Lender wiU acccpt. use and retain these paymen�s as a loss reservc in licu of mortgage insurance. Loss reserve :
<br /> ' Form 3028 9l90
<br /> - � . Pago 3 of 8 - � �
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