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<br /> ': _ � . 5. �rd or Frop�ty Iasuratice. Horrower shall keep the improvements now ezisting or heceafter erected on the `' . . • .
<br /> <. ` . -�} Property insured against toss by fire,hazards included within the term"extended wverage" and any other ha7ards,induding '�� ° � .
<br /> �. ` � floods or flooding,for which Lender req�eires inswance.This insurance shall be maintained in the amounts and for the period$ K
<br /> , ,. � � that Lender requires.'i'he insurance carrier providing tt�e insurance shali 6e chosen by Borrower subject to Lender's approval C1� - � '' �. �:�
<br /> ' : which sl�all not be unreasonably withheid. If Borrower fails to maintai�►coveiage described above. I.ender may. at Lender'� , . • � �, .
<br /> . :� . option.obtain coveaage w protect[ender's nghts in the Property in arrnrdance with�graph T. • s,- ; " ` ° .
<br /> - ,� ' . .':'- AII insurance�olicies anci renewals shall be acceptable to Lender and shall inclade a staadard mortgage clause. Lende� �� •
<br /> - �. �--„�' shall have the right to hold the Qolicies and renewtils_If Lender requires.Borrower shall promptly give to Lender all receipts o�si � ' ' `.
<br /> r-�.:�..•. - -
<br /> - paid premiums and re�ewal norites. Ia the event of loss,Borrower shall give pmmpt notice to the insurance rarrier and Le n der.� �� '.: `
<br /> � -�a, , -``-' °
<br /> _ . [.ender way malce proof of Eoss if not made pmmptty tsy Borrower. _
<br /> '� Unless Lender and Borrower otherwise agree ia writing.insurance proceeds shall Be applied to restoration or repair of the�
<br /> _ • � • ` Propeety damaged,if the restomtion or repair is economically feasible an6 Lender's security is not lessened.if the restoration or , ;��,,_;��
<br /> . repair is not economica[ly feasible or Lender s security would be tessened.the instuance proceeds shail be applied to the snms - r _ ._�F
<br /> - . secured by this Security Instnunent,whether or not then due. with any excess paid to Bonower. If Borrower abandons the - - - _��.
<br /> , ` �� Property.or daes nat answer witlun 30 days a nofice fmm Lender that the insurauce carrier has offered to settle a claim,then ` '�:;,':.,i3�°
<br /> ,_ '° ;~ Lender may coltect tl�ee insurance pmceeds. Ixnder may nse the proceeds to repair or restare the Property or w pay sums ��..'�`:• Y�r�-'
<br /> � . `z secured by this Security Instrument,whether or aot then due.The 30-day periad will begin when the notice is given. • � '��'�`y �
<br /> � ' -- Usiless lxnder and Borrower otherwisc agrce in wriung, any application of procceds to principal sha}1 not eatend or ;;.� � -"- _
<br /> � �`��: pastpone the due date of the monthly payments refemed to in paragraphs ! and 2 or change the amount af the payments. If �` ; '�" `
<br /> under paragraph 21 the Ptoperry is acquired by Lender.Borrower's right w any insuranoe policies and proceeds resulting from `- �'�.;. � _.
<br /> - `� ��'., damage to the Property prior Eo the acquisition shall pass to Lender to the extent of the sums secured by this Secarity Instrument ;. .� '•.�_v`_
<br /> " , � immediately prior to the acquisition. . _ �• `,�"',�
<br /> �•` . . �,:,,. .�' b.Oavpancy.Prrservatfon,Maintenan�n�d PtotedfoD of the PPO�rty;Borrower's Loan Appllcation;Leaseholds. �.'
<br /> --� -- - • �-' Bormww�„r shaU occapy.establish,and use the Property as Borcower's principaf residence within sixty days after the execx►tion af . "`'�''� '���
<br /> `� •• this Security Instrument and shall continae to occupy the Property as Borcower's principal residence for at least one year after � �`�`
<br /> • • the date of accupancy.tu�less I.ender othenvise agrees in writing,which wnsent shall not be unreasottably withheld,or unless "��=T-
<br /> • � ��`'.'. extennating circ�smstance., exist which are beyond Borrower's controL Borrower shall noi destroy. da�nage or impair the . '�: ir _._
<br /> : � • � • •�� Propecty;allow the Property to deteriorate, or commit waste on the Property. Borrowet shall be in defaait if any forfeiture - 4
<br /> l"%.•,.�' ` action or procceding,whether civil or criminal, is begun that in Lertder's good faith judgment could result in forfeiture of the '�'���:
<br /> ' � , Property or otherwise matcrially impair the lien created by this Security Instrument or Lender's security interat. Borrower may -_.,,�_�
<br /> . � . ' "•.;�,; cure such a default and reiostate.as provided in paragraph l8,by causing the actian or praceeding to be dismissed with a nding �;i;. • r";`:?"�:�
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<br /> � .;::;�v that, in Lender's good faiih determination, preciudes torfeiture of the Barrower s interest in the Property or other materia! � <�.�ra
<br /> . : . ';;6.5f impairment of the lien created by this Security Instrument or Lender's security interest.Borrowe:shall also 6e in defautt if ,Y�'m�r
<br /> Y�,_
<br /> • ..' ��:� Borrowet,during the loan application process,gave materially false or inaccurate information or statements ta Lender(or failed :�_;'
<br /> • � . � to provide Lender with any material informauon)in conn�tion with the loan evidenced by the Note,including.but not limited , _�===
<br /> ;"°.•;•`.. ' - to.tepresentations conceming Borrower's occupancy of che Property as a principaf residence. If this Security Instrument is on a �--
<br />- r., __._... leasehold. Bomower shal! wmply with all the provisions of the lease. If Borrower acquires fee title to the Property. th� ' � �_'`
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<br /> � . � ' � leasehold and th�fee title shatl not merge unless Lender agrees ta the merger in writing. • _ -1—
<br /> � �� 7.Frotection of I.euder's Righis in the Propesty.If Barrower fails to perform the covenants a��d agreemenu wntained in s�. � �°���
<br /> � • "�•' this Security Instrument.or there is a lega!praceeding that may significantty affect Lender's righu in the Praperty(such as a ���'!
<br />..r� ;,� , • raceedin m bankru t robate, for condemnation or forfeiture or to enforce laws or regulations). then Lender may do and ...,�
<br /> : �--' t� P g� P�Y• P •-
<br /> � pay for whatever is necessary to pratect the value of the Property and Lender's rights in the Property. Lendec's actions may ._. ... _
<br /> f?• inctude paying any sums securcd by a lien whicb has priority over this Securiry Instrument, appearing in court. paying ,>� __
<br /> �, :': � .•�� reasanable auorneys'fees and cntering on the Property to make repairs.Althaugh l.ender may take action under this paragraph . : -�._
<br /> ; 7.Lender does not have to do so. ��
<br /> ,•,�. � " ' . �: Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this • � ` '
<br /> � ., � � '�� Security lnstrument. Unless Borrower and Lender agree to other ternu oF payment,these amounts shall bear interest from the ��, =-�
<br /> • � �� date of disbursement at the Note rate and shall be payable, with interest. upon notice from I.ender to Borrower requesting � . ,. �
<br /> . .Y;.. payment. .., � •
<br /> � • S.Mortpage Insurance.lf Lender required mortgage insurance as a condition of makin�the loan secured by this Securiry =�•�� :
<br /> , � (• ;��..,,.• . .
<br /> . � Instrumem. Borrower shall pay the premiums required to maintain the mortgage insvrance in effect. If, for any reason,the
<br /> mongage insurance wverage required by Lender lapses or ceases to be in effect. Bormwer shall pay the premiums required to � �
<br /> � . ' obtain coverage snbstantially equivalent to the mortgage insurance previously in effect, at a wst substantially equivalent to the
<br /> � � ' cost to Borrower of the mortgage insurance previously in effect. from an altemate mortgage insurer approved by Lendet. If . � . .
<br /> • • � . ' substantially equivalent mortgage insurancc wverage is nat available.8orrower shall pay to Lender each month a sum equal to � '
<br /> ' � ane-twelfth of the yearly mortgage insusance premium being paid by Borrower when the insurance covera�e lapsed or ceased to � . � � � ,
<br /> • " � be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insuraace. Loss reserve � . .
<br /> Form 3028 9/9� . - _ .
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