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<br /> s ` . 5.�Bazard or Property ►.,�.ranr.._ Borrower shall keep the improvements aow existin�or be�eafter e�on e • ,
<br /> � . : p�,nperty insured against toss by fire. hazards included wittun[he term "eatended coverage" and any other hazards. includiag Q ° ` `-.
<br /> �.< •. tloods or flaoding.for which Lxnder requires insurance.This irsur�ce shall be maintained in the amounu and for the periods '�• �
<br /> �� Y � �. ,�. ` . that Lender require.s. The insuranve carrier providing the insurazux shall be chosen by Borrower subject to Lender's approval ,. ;�
<br /> ` ` which shall not be unreasonably withheld. If Borrower fails to mnintain coverage described above. [.crtder m3y. at.Leader's ��; ._
<br /> � +-•�.�� oprion,obtain coverage to protect Lender s rights in the Properry in accordance with pai"e�raph 7• ' �,' =
<br /> -;,..,.... �'• :.
<br /> : _^__�_: All insurance policies and reaewals shall be acceptstbte to Lender and shall iRClude a standard mortgage ciause. l.ettder
<br /> • shal!have the right to hotd the policies and renewals.If L.ender requires,Borrowet shall prompdy give ro Ixnder a1{receipts uf r h .
<br /> E , : ��.�:;'" paid premiums and renewal notices. [n the event of loss.Borrower shall give pr+�mpt nodce to tlte insurance carrier at►d Lender. < ,4 ,, . ,
<br /> � � Lender may malce praof of loss if not made prompdy by Borrower. � , �
<br /> Untess I.ender and Borrower othetiwise agree in writing.iasurancc proceeds shall be applied tu restoration or reQair of the . .
<br /> .r ..: ' . ��, 4J, property damaged.if the restoration or repair is economically feasible and LBnder s security is not lessene�.If the restoruion or ;':r;. `_'.
<br /> ' repair is not economically fe�ible or Lender's serurity wautd be lessened.the insurance proceeds shall be aPPiied to the sums �`,r:; ;M'.���,�.
<br /> . ..%µ secured by this Security inswrnent, whether or not then due. with any excess paid to Barrower_ If Barrower abandons the �._ _
<br /> . • ,. ' Property.or does nat answer within 30 days a norice from Lxnder that the insamnoe rarrier has offered to settle a claim.then ��;'
<br /> ' . },.'���: Lender may wllert the insurance proceeds. Ixnder may use the proceeds to repair or restore the Property or to pay sums ;<�r'�-
<br /> �•"�� secured by this Securiry InSuument.whether or not tt�en due.The 30-day period will begin when the natice is given. f :•v
<br /> ':'�' Unless l.ender and Borrower otherwise agree in wriring, any applicauon of proceeds to principa! shall not extend or
<br /> � � .` <,�-� .` postpons the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ..
<br /> . + . . -'- : under P�S�Ph 21 the Properry is ac;quired by Lender.Borrower s right to any insurance policies and proceeds resulting from ._,`�`'M --
<br /> :)�=�:!`.� damage to the Property prior to the acquisition sha11 pass to l.ender to the extent of the sums secured by this Security Instrument ' ".� __
<br /> __ "" ° immediately prior to the acquisition. p �.�,;gonowe�'s Loan A Ucation;Leaseholds. , '� ���
<br /> �� ° Preservation,Maiatenance and Pcotedion of the Pro e PP
<br /> .; . 6.Occapancy, -
<br /> " Borrower shall occupy.eswblish.and use the Property as Borrower s principal residence within sixty days after the execution of �
<br /> ' ` this Security Instrument and shall continue to occupy the PropertY as BorroW'er s principal residence for at least one year after , '.���•
<br /> '� ��' i�_f,..,,�k
<br /> :z.; •:
<br /> �� � • - tt�e date of occupancy.unless I.ender otherwise agrees in wriUng,which consent shall not be unreasonably withheld,or unless •.� : : -�yY.
<br /> ; ` ' '•� . e�tenuating circumstances eaist which are beyond Borrower's control. Borrower shall noi destroy. damage or impair ihe •. ��'�
<br /> . �_:� Property,altow the Property ta deteriorate,or cammit waste on the Property. Borrower shall be in default if any forfeiture '• a.�.s'm_
<br /> • action or proceeding.�vhether civil or crimi�l. is begun tha[in i.endei s good faith judgment could result in forfeiture of the ���`�° _�=_-.
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<br />- Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest.Borrower may r�1`�
<br /> �• cure such a default and reinstate.ac provided in paragraph 18,by causing the action or proceeding to be dismissed with a tuting = W
<br /> � • . � ' . that, in Lender's good faith determinarion, prectudes forfeiture of the Borrower s interest in the Property or ather material �'
<br /> -: :�;,.o.f::�_-
<br /> • impairment of the lien created by this Security Instrument ar Lendei s securit} interest. Borrower shall also be in default if � . �•��•.-=.:
<br /> � • Borrower.durins the loan application pracess,gave materially false or inaccurate information or statemenu ta Lender(or failed ��� -
<br /> �•-�;.
<br />_ � .- to provide L.ender with any material information)in cannection witn the loan evidenced by the Note.including,but not limited, -___
<br /> ` to.representauans concemins Borrowei s occupancy of the Property as a principal residence. If this Securiry Instrument is on a • : . ���_�.,,.,.—
<br /> . . ' • , leasehold. Boaower shall comply with aU the provisions of the lease. If Barrower acquires fee dtle to the Property, the {�- ��_
<br /> w;�.-.
<br /> • . leasehotd and the fee title shall not merge unless l.ender agrees ta the merger in writing. :a.:-�;
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<br />�.`� �i � � 7.ProtectIon of Lend�r's Rights in the Property.If Borrower fails to perfarm the covenants and agreements wntained in ,:*•--5�-:
<br /> this Security Instrnment. or there is a tegal praceeding that may significantly affect Lender's rights in the Property(such as a _ • __
<br /> ,.' proceeding in bankruptcy.probate. for condemnation or forfeiture or to enforce laws or regulations),then l.ender may do and ���:�._,_• •:____
<br /> .� ' ' pay far whatever is nece.s.sary to protect the value of the Property and L.ender's rights in ihe Property. l.ender s actions muy - '�:: ---
<br /> • include paying any sums secured by a tien which has priority over this Security Instrument, appearing in court, paying ��r
<br /> �-.� -. reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may take action ur.>.°r this paragraph •. , .--
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<br /> ` ' 7.Lender does not have to do so. ---
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<br /> � � , Any amounts disbursecl by Lender under this pazagraph 7 shall become additional debt of Borrower secured by this � . .
<br /> .� � Security instrumeni. Untess Borrower and Lender agree to other terms of payment, these amounts shall bear interest Prom the 1. : �'' x-�
<br /> . � datc af disbutsemcnt at the Notc ratc and shall be payablc. with intcrest, upan noticc fmm Lcnder to Borrower requesting ;,•� .,:. ��. :
<br /> '' �' . � ; .. ' payment. . .
<br />. . �•• �.Mort�e Insurance.If Lender reyuired martgage insurana:a5 a condition ot makin�the loan secured by this Security
<br /> �.�' ' � Instrumenl. Barrower shall pay the premiums required to maintain ihe mortgage insurance in effect. if, fot any reason. the .
<br /> .�' . . mortgage insurance coverage required by Lcndcr lapses or ccares ta be in effect,Borrower shall pay the premiums required to . •• •
<br /> �� • obtain coverage substantially equivalent ta the mortgage insurance previously in effect,at a cost substantially equivalent to the , , .
<br /> '� . cast to Borrawer of thc mortgage insurance previ�msly in effect, from an alternsite mortgage insurer approveA by i.ender. If � •
<br /> ' ' substantially equivalent mnrtgage insurance coverage is not available. B�rrower shall pay to Lender each month a sum equal tv .. •_ :
<br /> � �� one-twclfth of the yearly mortgage insurance premium being paid by Borrowcr when�hc in�urance coverage{apsed or cp.ced to ,
<br /> ::�; . � � , be in ef'fect. Lender will accept,use and retain these paymentc a� a Icas reserve in lieu of mortbage insurance. Losa teserve : ,.
<br /> form 3028 9190 � � .i
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