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<br /> ,. 5. Hnra�rd or Property liitiw•uncc. I3urrawer �hall kccp ihc improvumcnts n��w rxititing u� hrr�altcr crcctcJ un tlic ' r
<br /> Prnperty in+ured againtit li�+� hy fir�, hu�.ud, includcJ u•ithin thc term "cxtended cuvcra�;c" .uid any uther tia�urd�. including ,'
<br /> tlouds or tluuJing, f�or which I.�ndrr rcyuires intiuruirc.'fhis in,urancc yhall bc muintuincd in thc an�,�unt,unJ for thc peric�d, �
<br /> ! thut I...cnJcr rcquires. Thc intiurancc rarricr pravidin�. thc in�w•uncc tihall bc dwscn hy H��rruwcr .uh�cct to landcr'ti app�uval
<br /> whirh �hull not bc unrea+�»�ahly withhcld. If Burruwcr I'uil�to maintain cnvcrugc dc�cribcd abovc. l.cndcr may. ut Lcndcr'ti
<br /> .�,�' option.ubtain covcragc to prutcct Lcnder'.right,in thc Property in accnrJanrc with puraEruph 7.
<br /> All inyuranee pnlicies und renewuls shall be acccptable tc�Lender and shall include u standurd murtguge clau,c. l.under ,��,
<br /> �o;;,;�;:�i'� shall havc the right to hold the policies and rencwalti. If I.cndcr requires, Borrowcr shall promptiy give to L.ender all rereipts of ,ti::
<br /> �,;,,,,,.,.�� paid premiwns and rencwul notices. ln the cvcnt o(lors,Borrc�wcr shull givc prompt noticc ta thc intiurancc csrrier and L.endcr.
<br /> I.cndcr may make proof i�f loss if not madc prompUy by Borrowcr. '''`
<br /> � � Unless Lendcr and Borrower otherwisc ugree in wri[ing. insurance proceeds shall be applicd to restoration or repuir of the �,�_�
<br /> ' Property damaged, if the re.r•turation or repair is economically fessible and Lender's security is not Iessened.If the restoration or �
<br /> y repair is not ecanomically feasible or l.cnder's security wauld be lessened. the insurance proceeds shall be applied to the sums -
<br /> secured By��iis Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandans the �.-
<br /> '� Propeny, ar does not answer within 30 days a notice from Lendcr that the insurance carrier has offered to settle u claim,then �`^--
<br /> � *. Lender may collect the insurance proceeds. Lender may use the praceeds to repair or restorc 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 notice is given. -
<br /> Unless l.ender and Borrower otherwise agrec in writing,any application of procceds to principal shall not extend or -_-
<br /> � postpone the due date of[he monthly payments referred to in p�rugraphs 1 and 2 or changc the amount of the payments. If �'=.
<br /> �� undcr paragraph 21 the Property is acquired by Lender.Barrower's nght to any insurance policies and proc:eeds resulting from �
<br /> damage to the Property prior to the acquisition siial! pass to l.ender to the extent of the sums secured by this Security Instrument �
<br /> � • �� , immcdiatcly prior to the acquisition.
<br /> '��°+•� 6. Occupancy,Preservatlon,Malntenance and Protection of the Property;Borrower's I.oan Appltcation; Leaseholds.
<br /> �,°� Borrower shall occupy,establish,and use the Property as�orro�ver's principal residence within sixty days after the execution of __
<br /> this Security Instrument und shall continue to occupy the P�•openy as Bonower's principal residence for at Ica.St one year after —_
<br /> the da[e of occupancy, unless C.ender otherwise agrees in writing, which consent shall nut be unreasonably withheld, or unless
<br /> � � , �� extenuating circumstances exist which are beyond Horrower's control. Bottower shall not destroy, damage or impair the
<br /> „ , ` Property, allow the Property to deteriorate, or commit waste on the Property. Bonower shall be in default if any forfeiture
<br /> ' ' action or praceeding, whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> '' ' Propeny or atherwise materially impair the lien crcated'oy ihia Sr�:u��ty ir�sir,::r:=•".c Qr Lender'c�ecurity intetest.Horrower may
<br /> ; �•.�.•.• cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling
<br /> _-:��';.5..; � that, in i.eridcr's good fuith determination, precludes forfeiture of the Borrower's interest in the Property or other material
<br />.�''�'%��= impairment of the lien created by this Security (nstrument or Lender's security interest. Bonawer shnll also be in defuult if
<br /> ,�,�;�
<br /> "'�o'�''�;� Aorrower,durin�the loan application process. gave matenally false or inaccurate information or statements to I.ender(or failed
<br />�.-,t`-r'�~��
<br /> to provide Lender with any msterial information)in connection with the loan evidenced by the Note, including,but not limited
<br /> _:-�,'++�,� to,representations concerning$orcower's occupancy af the Property as a principal residence. If this Security Instn►ment is on u -
<br /> - :,;.,, , Ieasehold, Borrower shall comply wiih all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br />-�yy��,. leasehold and the fee title shall not merge unless Lender agrces ro ehe merger in writing.
<br />-��j t'`�` 7.Protectlon of Lender's Ri�hts in the Property. If Borrower fails to perform the covenants and agreements contuined in
<br /> this Security Instrument, or there is a legal proceeciing that may significantly affect Lender's rights in the Property (such as a
<br /> —"-`�—� raceeding in bankruptcy, probate, for condemnution or forfeiture or to enforce laws or regulations),then Lender may do cind
<br /> `�i�� pay for whatever is necessary to protect the value of the Property and L.ender's rights in the Property• Lender's actions may
<br /> a�_-=���.�� earin in court, paying
<br /> rr_,�,�„�;; include paying any sums secured by a lien which has priority over this Security Instrument, app g
<br /> �-- --=°�� retisonable attorneys' fees and entering on the Property to make rcpairs.Although Lender may take action under this paragraph
<br /> ,..,_:�;��
<br /> =°i�.�,�,�+� 7,Lender does not huve to do so.
<br /> -=��i Any amounts disburseci by i.ender und�r ti�is paragrsph 7 sh»1! ►�ecome A�diti�nal debt of Borrower secured by this
<br /> 1L j Security Instrument. Unless Bonower and Lender agree to other terms of payment,these amounts shall bear interest from the
<br /> °`y'=���'� date of disbursement at the Note rate and shall be payable,with interest, upon notice from Lender ro Dorrower requesting
<br /> '�i�';
<br /> �- payment.
<br /> '`'�==� 8.Mortgpge Insurnnee. If Lender required mort�age insuranee as a condition of making the loan secured by this Securuy
<br /> '=:E4�:
<br /> �°`°�."^�.z Instrument, Bonower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, e
<br /> 'i°.rS!E •
<br />--__,y„,R;.� • mortgage insurance coverage required by Lender lapses or ccases to be in effect, Borrower shall pay the premiums requir to
<br /> n'����` ;:• � obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalenc to the
<br /> -� -'�' � oost to Borrower of the mortgage insurance previously in e(fect, from an altemate mortgage insurer approved by Lender. If
<br /> � • substuntially equivalent mortgage insurdnce coverage is not available.Banower shall puy to Lender each month a sum equal to
<br /> ' one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br />• be in effect.L.ender will accept,use and retain these payments as n loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9190
<br />_ • , P�po 3 01 6
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