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<br /> - . ' , ` g, yamr�!os t�roperty Insm�nce. Borrower shall keep the improvemcnts now existing or hereafter erected on the �� • _
<br /> - . • . Property insured against loss by 6m. harards included within thc term °extended coversge" and any other hardrds. including �a ,, ..
<br /> ` ' floods or flaoding,for which[.eader requires insurance.This insuranoe shalt be a�aintained in the amounts end for the periods t !^ . �,
<br /> ' � ` thai I,ender requit+es. The ins�uance carrier psnviding the insurance shall be chosen by Borrower subjed to Lender's appmval.... . ,. _."
<br />- � " ` which shall not be unreasonably witbhel� If Borrower fails ta maintain coverage described above, Lender may, at l.ender's��' } �
<br /> ',��:r�� option,o btain coverage to pro t e c t L ender's ri g hts in the Pro pe rt y in accordance with paragraph 7• - -- �f
<br /> --_°° . " ,. All ina�rance policies and reaewals shall be acceptable to I.ender and shall include a standard mortgage clause. L.ender � ` • t�•,.:� .�`' ,.
<br /> _- -- shal!have the sighi to hold the policies ead renewals_ If Lender reguiies,Borrower shatl prompdy give to Lender all�ceipts of � _ ,'';:
<br /> ' _ paid premiums and renewal notices.In the eveat of loss.Borrower shall give prompt notice to the insurance carrier and Lender. � , ���;�;
<br /> . ' ; �.' : Lender may make pmof of toss if not made prompdy by Borrower. <: , .
<br /> -� - - Unless Ixnder and Borrower othenvise agrez in writing,insurance proceed�shaU be applied to restoration or repair of the '" J '�=.-�' ,
<br /> -�-�- - ` Propetty damaged.if the restoration or rtpair is economically feasble and Lettder's security is noi lessened.If the restordtion or ' �- '`.. '::
<br /> _�'..� � '�" ' repair is aot economirally feasible or Lender's seturity would 6e le�ened,the insuran�:e proceeds shall be applied to the stuns ^. .�_:6:
<br />=a • .5. � . ... ..
<br /> - . sec�red by this Security Instnunent, whether or not then due, with any excess paid to Borrower. If Bomawer abandons the . :,,,;<,:._=
<br /> - Pro e or does not answer witfun 30 da a nauce from lender that the insurance carrier has offered to seule a claim,then �-_ ``*�'`��' _
<br /> - . - p rty. l's . �`."•�';��•
<br /> ' Lender may wlled the insurauce proceads. L.ender may use the procceds to repair or restore tbe Property or to pay swns ` - --
<br /> _ ' • secured by this Security Instrument,whether or not then due.The 30-day periud will begia when the notice is given. _ __
<br /> . Unless Lender and Borrower atherwise agree in writing, any application of proceeds to principal shall not extend or �
<br />_ • postpone the due date of the montbly payments referr�d to in paragraphs 1 and 2 or change t6e amount of the payments. If , '� � ��' ' �_-
<br /> t ' � under paragcaph 21 the Praperty is acquired by Lender,Borrower's right to any in�,*aner policies and proceEds reyulting from `��• ° —.
<br /> U; :. damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums�ecured by this Sea�rity Inst►ument ,� _.
<br /> _ � ._%�,. :, immediately prior to the acquisition. : '--
<br /> �`�',
<br /> -._•.-; - 6.Occupancy,Preservatiap,Mainteaaace aad Prot�cctlon of the Prope�ty;Borrower's Loan ApAlIcatton;Leaseholds. :, ,
<br /> t
<br /> • Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after We ezecution of `' . �, �'-�'r
<br /> ,.:;��A:�_
<br />- � ._ this Secusity Instrument and shall contimie to accupy the Property as Borrower's principal residence for at least one year after ,,,__
<br /> '.�,°<;--
<br /> ' the date of occupancy,unless Lender otherwise agrees in wriring.which wnsent shall not b�unreasonably withheld,or untess �:_.,�,.:
<br /> . _ .. , extennating circumstances exist which are beYond Borrower's control. Borcower shall noi desuoy. damage or impair the ,:`�.4`.�.;:=-�-,�=
<br /> ' • Property. allow the Property to deteriorate, ar commit waste on the Property. Borr�wer shall be in default if any forfeiture •� `� _�""'�"�
<br /> ;;e,,��. • � action or procceding, whdher civil or criminal,is begun that in Lender's gaod faith judgment could result in forfeiture of the , ��_
<br /> '•�` Property or otherwise materially impair the lien create�by this Security Instrument or Lender's security inierest.Borrower may '�"�-
<br /> 'f '• � wre sach a default and reinstate,as provided ia paragraph 18,by causing the actian or pmceeding to be dismissed with a ruling �. �,`�
<br />- ' • � that, in Lender's good faith determinadon. precludes forfeiwre af the Borrower's imerest in the Property or other matetial •� :�;�;
<br /> r��� • . � � impairment of the lien created by this Security Instrument or Lender s security interest. Hoaower shall also be in default if , . �.,
<br /> � . Borrower,during the loan applicatian process,gave materiaqy false or inaccurate informadon ar statemenu to Lender(or failed , -'�`�__�.___.�•�
<br /> �.�' , ."`,-��
<br /> • � ro pmvide Lender with airy mater+al information)in connection with the loan evidenced by the Note,including,but not limited '. � . :� �.,�
<br /> -- - , to. repr�esentations conceming Bonower's occupancy of the Properry as a principal residence.If this Secwity Insuument is on a .,;�f'.��:: ..�_.`-�"'-r
<br /> ' � leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title ta the Praperty. the . ;.,�`�-
<br /> leasehold and the fee title shall not cner e untess Lender a ces to the me er in writin . . ' �''�� �
<br /> g �' *8 S .�i►�"�..
<br /> - ' . 7.Protection of I.ender's Rights tn the Property.If Borrower fails to perform the oovenaats and agneemenu contained In �� =_
<br /> .".--:
<br />' . � � this Security Insuument.or there is a legal proceeding that may significantty affect Lender's rights in the Property(such as a ' • :;�-
<br />_- - •-; '. '.- proeeeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and _ _ _--�
<br /> �,.: . � ��. pay for whatever is necessary ta protect the vatae of the Property and I.ender's rights in the Property. Lender's actians may . � .�.e-
<br /> ' �` • . '.�:� include paying any sums secured by a lien which has priority over this Securiry Instrument, appearing in oourt. paying � ' ''"�=
<br /> ' � �.�.� reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph -.. _ -
<br />:..�.' � ��� �. .. 7,L.ender does not have to do so. • �
<br /> "�` . ' . Any amounts disbursed by Lender under'this paragraph 7 shaU become additional debt of Borrower secured by this . -
<br />� � • Security Insuument. llntess Borrower and Lender agree to other tertns 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 Lender to Banowet requesting � . ,; .�.
<br /> � • . .. Payment. • . ;-
<br /> ' � � S.Mortgage L�surame.If Lerider required mortgage insurance as a candiuon of making the loan secured by this Securiry � � '"
<br /> � Insttument. Borrower shall pay the premiums rcyufred to maintain the mortgage insutance in effect. lf. for any reason. the � ' ' -�
<br /> ' � mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to � � •
<br /> ' obtain wvera�e substantiully equivalent to the mortgage insurance previously in effect,at a cost substantially equivatent to the �
<br /> +.` �� wst to Borrower of the mottgage insurance previously in effect, from an alterreate mortgage insurer approved by Lender. If �, �
<br /> �.. .
<br /> ' ' substantially equivalent mortgage insurance coverage is noi available.Bonower shal!pay to Lender each month a sum equal to �
<br /> one-tv�effth of the yearly mortgage insurance premium being paid by Bonower when the insurance coverage lapsed or ceased to , • .
<br /> � , . , be in effect.Lender wiU accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss resetve . . .
<br /> � • Form 3028 9190 • �
<br /> � � � � � F�9e 3 01 6 ' ; .
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