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<br /> , , r �l S. Ha7ard or Property Insurance. Borruwer shalt keep the improvements aow existing or here.a�er ereaed on the .
<br /> � . ° Property insured against loss by fire, hazards incladed wzthin the term "eatended coverage'and any other l�arards,including ,
<br /> , " �- lloods or flooding, for which Lender reguis+es insurance.This insuraace shall be maintained in the amounts and for the periods ' . .
<br /> � � � � that l.ender requires.The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender s approval .�,;. �; ' `�
<br /> � ,��-� - which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above. Lender may, at Lender's �; • •
<br /> �.� � =•��=-;, option.obtain cxivera�e to protect I.endec's reghu in the Property in atcordance with paragraph 7. --- - --°-
<br /> , s ' � '• ' All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. L�ender , '� � �
<br /> shall have the right to hold the policies and renewals. If Lender requires.Borrower shall promptly give to Lender all receipu of '�'..:� : _,��
<br /> , . � - paid premiums and renewal notioes.In the event of loss.Borrower shall give prompt notice to the insurance carrier and I.ender. ` , �
<br /> - � � Lender may make proof of loss if not made promptly by Borrower. � " ��� '
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<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the +: '
<br /> • Property daznaged,if the restorarian or repair is econamically feasible and Lender s security is not lessened. If the restoration ar } •�,� �r �� =
<br /> k"'�' � air is not ecflnomicalt feasible or Lender's woutd be lessened, the insurance m c e e d s s h a ll be li e d to t he sums ���{ , �+f.0 �'
<br /> ,M.;. ` �P Y seCUnt3' P aPP ycr�'�.�, ,;z... r.
<br /> _ � , secured by t6is Security Instrument, whether or not then due. wi[h any excess paid to Borrower. I f Borrower a b a n da�s t he 7 =,'?``•�'�°-'�;::'
<br /> `�`�-'� '<�� Property,or does not answer within 30 days a noace from Lender tliat the insurance carrier has offered to seale a claim,then ,`�.��-="�
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<br /> ;;;.t. Lender may coltect the insurance praceeds. Lender may use the proceeds to repair or restore the Property or to pay sums _
<br /> � � . • secured by this Security Instrument,whether or not then due.The 30-day period will begin when the imtice is given. ,z` -�
<br /> ,. � - . Unless Lender and Borrower otherwise agree in writing, any application of proceed.s to principal shall not extend ar '_` .''� � ' —_-
<br /> ' �.� postpone the due date of thc monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If°:;�- :
<br /> � , � � under paragmph 21 the Property is accfuired by I.ender,8oaowei s right to any insurance policies and proceeds resulting from "`
<br /> � _.r:, ,_�
<br /> ��- �- �•-� damage ta the Property prior to the acquisition shall pass to l.ender to the extent af the sums,ecured by this Security Insttument � � i �.' .•�•
<br /> � immediatety prior to the acquitiition � � �
<br /> � T.'T
<br />-�� , 6.Occupancy,Preservatlon.lfaintenance and Protectton of the Property:Borrowec's I.oan Applicatlote;l.ea�eholds. , � � ���.Y
<br /> % ' . •, .. Borrower shall occupy,establish,and uye the Property as Borrawer's principa!residence within sixty days after the executiun of '� �' `�� ''r'"=`
<br /> •� � . this Security Mstrument and shall continue to oc�upy the Property us Bormwer's principa{residence for at least one year_after � =,='i"_y�
<br /> - �� y�
<br /> , the date of�xcupancy.unleti, L.ender othenvise agrees in writing, which consent shal!not be unmasonabiy withheld,or unless , �� ���'�a,
<br />- � . � � extenuating circumtitances exist which are beyond Borrawer's control. Burrawer shall not destroy, damage or impar the � _..__---
<br />_ �... � Property, altow the Property ta detcriorate, or cammit waste on the Property. Borrower shall be in defautt if arry farfeiture �'. ____
<br /> ". , : actian or proceedin�,whether civil or criminsii,is begun that in l.ender's gaod faith judgment could result in forfeiture of the ,�,�;:.�.:�
<br /> . Property or otherwise materially impair the lien created by this Security instrument ar Lender's security interest.Bortower may � � .< ___
<br />, • ' . • cure such a defaalt and reinstate.as provided in paraaraph 18, by causing the action or proceeding to be dismissed with a ruling ' ,'�'-�
<br /> ���.� . that, in Lender's good faith determination. prectudes forfeiture of the Borrower's interest in the Property or other material 4��
<br /> � � � impairment of the lien created by this Secvriry Instrument or i.cnder's securiry interest. Borrower shaU also be in default if • :,-:�.-�-°:
<br /> ... .. ,. . . �; :� Borrower,during the toan appiication process,gave materialty false or inaccurate infortnation or statements to Lender(or faited _ • ._`-'_�_
<br /> . to provide Lender with any material informatien)in connection with the loan evidenced by the Note,including,but not limited
<br /> • ° to,representations wncerning Borrower's occupancy of the Praperty as a principal residence.If this Security Instntment is on a �•'. '� '"'r'-'
<br /> _ � ;; :�_•
<br /> ,. , J leasehold. Bonower shaU camply with aU tl�e provisians of the lease. If Borrow•er acquires fee utle to the Property, the , . ;.���-,
<br /> leasehold and the fee tide shal!not merge unless Lender agrees to the merger in writing. g -
<br /> .•�c.., . ��'
<br /> . 7.Protect[on of Lender's Rights in the Property.If Bono�ver faits to perform the covenants and agreements contained in ' '�
<br /> , � � this Securiry Instrument, or there is a legal praceeding that may significantly affect Lender's rights in the Property(such as a -
<br /> � �. proceeding in bankruptcy.probaze. for candemnation or forfeiwre or ta enforce laws or regulaaons).then I.ender may do and '`¢-��"=�
<br /> . � pay far whatever is necessary to protect the value of the Propeny and Lender's rights in the Property. Lender's actions may ��. -
<br /> _ . include payin� any sums securc� by a lien which has priority over this Securiry lnstrument, appearing in wurt. paying �. - �
<br /> �� � • ''•�,f reasonable attomey.s'fees and entcring on the Property to make repairs. Although l.ender may take action under this paragraph . : � �..'s;
<br />•�• . . 7. Lender does not have to do sa. • '
<br /> �� tS Any amounts disburscd by Lender under this paragraph 7 shall hecome additional debt of Borrowcr secured by this • �
<br /> . . • '�1 Security lnstrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear int:rest from the .' �� ' .
<br /> ��..
<br /> •. • � date of disbursement at thc Note rate and tihall bc payable, with interest, upon notice fram Lender to Bottower requesting
<br /> : payment. , .
<br /> •' 8.Mnrtga;e Insurance. If Lender required mortgage insurance as a candition of making the loan secured by this Security
<br /> � ' lnstrumcnt, Borrower shall pay the premium� reyuireci tu maintain the mortg�ge insurance in effect. If, for any reasan. the . • , ..
<br /> .i. � � mongage insurance coverage required by l.ender lap�ey or cease.c to be in effect. Borrower shall pay the premiums reyuired to ,
<br /> � � obtain rnverage sub,tantially equivalent to the morlgage insurance previously in effoct,at a cost substantially equivalem to the ' �
<br />_ �� cost ta Bormwer af thc mortgage inrurance previously in cffect, from an alternate mongagc insurer approved by Lender. If ', , �
<br /> � �ubyWntiaUy eyuivalenl mortgage insurance coverage i�not available.Borrower shall pay to Lender each month a sum equal to � '
<br /> • one-twelfth of the ycarly mnngagc insurancc prcmium hcing paid by Bonowcr when the insurancc covcragc lapsed or ccased to . .
<br /> . . he in effcct. Lender will accept.use anJ retain�he�e p.�yments ati a lass reserve in licu uf morlgage insurance. Lass reserve � .-
<br /> " form 3028 9190 ' ' '
<br />. .� Pago 3 of fi • � .
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