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<br /> � � ,. S. Na7ard or Ptope�ty Insurance. Borrower shall keep the improvements now euisting or hereafter erected on the • ` ,�;��;.�
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<br /> . p�a,peny insured agaiast lsss by fire,ha7ards inctuded within the term'extended coverage°and any ottcer�ards,inclnding 6 ,
<br /> ` ' t7,00ds or Aooding.for which l.ender requires insurance.This msaraace shall be maintained in the amounts and for the periods , , ,
<br /> ' �'�. that I.eader requires.The insuraace carrier providing the insutance shall be chosea by Borrower subject to Lxnder's appmval „ . �
<br /> '" wluch sLall not be unreasonably withheld. If Bflrrower fails to maintain coverage descn'bed above, Lender may,at L.ender's j
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<br /> ' , � option.obtain coverage to pmtect Lender's righu in the Property in accordance with pa�ragragh 7• �--r'--:� •':-
<br /> - `, pll insuractce policies and renewals shall be acceptabie to I�nder and shall inclnde a standard mo�gage cla�s�_ �
<br /> � shail have the right to hold the policies and renewals.If Lem3er re4uires•Barrawer sha11 Promgdy give w L�nder all ceceipu of _
<br /> �. paitl premiumc and renewal notices.In the eveat of loss,Bomower shall give prompt aotice to[he insurance ranier and Lender. _� _ _
<br /> _ • . � Lander may make proof of loss if not made pmmpfly hy Bomower. -- , .
<br /> , . . iJnless Lender and Borrower otherwise agree ia writing,ins�rance praceeds shall be applied to restoration or repair of the %:. , .
<br /> ' ° PropertY damag�,if the reswration or repair is ecoaomically feasible and Lender's security is ant lessened.If the restoration or � :..,.',. .:�>,. _:�::
<br /> - '. repair is not economically feas3te or I.ender's security would be tessened,the insurance proceeds s1ia11 be applied cu the s�ms + . �-��
<br /> � , secured bl+tbis 5ecurity Insuument, whetiier or not then dae,with any excess paid to Borrower. If Borrower abaudons the • ,,, w� ` `;
<br /> � ProPertY,or does not answer within 30 days a nouoe from Lender that the insurance carrier has offered w seule a claim,then . ::`�:;;.s:.s-�-�
<br /> � • ar to a sums �.r."'''`."'
<br /> ' �� Lender may collect the insurance proceeds. Lender may use the proceeds to zepair or restore the Property P Y , _
<br /> �j�. S��by�g�ty�strnmeut,whether or aot then due.The 30-day period w�l begin when the nodce is given. . . ` � ...��..._ ---
<br />_r° , . ,.�i Unless Lender and Borrower otheiwise agree in writing. anY aPPlicarion of pmceeds to principal shall not extend or '; :-:�...�.
<br />�S _ postpone the due date of the monrhly payments refernd to in paragraphs 1 and 2 or change the amount of the payments. If : ;F:�...-,�__a.-
<br />- , . : .:_.` under paragraph 21 the PropertY��N���+Y��,Borrawe�s rtght to aay msurance golicies and pmcceds resultinS�om -.- ---`-.�
<br />- � d a m a ge to the Pro p e r t�+Prior to the acyuisidon shall pass co Lender to the extent of the sums secured by this Securiry Instrument ':,.�.���;;:
<br /> � . immediately prior to the acquisiuoa • '"� '� �
<br /> :.�:' 6.Occupancy.Preservation,Maimeoance and Prote�tEon of 4he Property,Borrower's Loan Apptication;I.easeholds. , ' .�'��
<br /> . .. . i.- ' 'f � �s„
<br /> Bormwer shaU accupy,establish.and use the Property as Borrower's principal residence within sixty days after the eaecution of �:_�'-,
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<br /> ` � this Security Instmment and shall cominue to occupy the Property as Borrawer's principat residcnce for at least one year aftEr _ : ,�,:,�_.
<br /> the date of occupancy,unless Lender otherwise agrees in writing.wtuch cansent shall not be unreas�onably withheld, or unless . ..�.:';;�:�_-
<br />- _ � eMenuating circnmstances exist which are beyond Bonower's control. Borrower shall not destroy, damage or impait the _ _,
<br />- : � . � • property, allow the Property to deteriorate,or commit wasce on the Property. Borrower shall be in default if any forfeiwre =-__--
<br />� ` i+ ' - action or proccedIn S,whether civ7 or criminal.is begun that in Lender's good faith judg�ent coutd re.svlt in forfeiwre of the _-i.�
<br />� t; • property or otherwise materially impair the lien created by this Serurity Instrument or Lender's security interest.Borrower may �: :� -�Y.:
<br /> ' cure such a default and reinstate,as provided in paragaph 18.by causing the ataon or procee�ling to be dismissed with a niling . �."�r�3_
<br /> � ' that� in Lender's good faith determinarioa, precludes forfeinue of the Borrower's interest in the Property or other material `��_
<br /> ..s impa'ument of the lien created by this Security Instrument or Lender's security interest• Borrower shall also be ia default if ;,,�'
<br /> � ;�-� -.� � Borrower,dnring the loan application process,gave materiatly false or inaccurate inforn�ation or statements to Lender(or failed —
<br /> , ,. .. � to provide Lender with azry material infonnation)in connectian with the loan evidenced by the Note,including,but aot limited �;
<br /> . .. to,representatioas wnceming Borrower's occupancy of the Property as a principal residence.If this Security Insnument is on a �...,p.�:�---
<br /> "' � � ' leasehotd, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title �o the Property, the • �,.`y,•�,-,,
<br /> ' leasehold and the fee tide sha11 not merge untess Lender agrees to the merger in writing. �"'�
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<br />: " 7.ProtecGion of l.ender's Rights in the Property.If Borrower fails to perform the covenanu aad agreements cantained in . •rn__
<br /> - . �� . - . _ tlus Security Instrument,or there is a legal proceeding that may sign'sficantly affea Lender's rights in the Property(such as a ' . �z='
<br />- , proceeding in banlauptcy.probate, for condemnation or forfeiture or to enforce laws or regulations).then Lender may do and � L-="
<br /> . < pay for whatever is aecessary to protect the value of the Property and Lender's rights in the Property. Ixnder's actions may , _
<br /> � � . indude paying any sums secured by a lien w6ich has priority over this Security Instrument, aPP�B � CO� FaY1Dg � • -
<br /> ��� reasonable attorneys'fees and entering on the Property to make repairs.Although l.ender may take action uader this paragraph ,, . • .
<br /> , � • �� 7.Lender does not have to do so. �.'. �� ''
<br /> • My amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secvred by tlus ,
<br /> � Security Insmiment. Unless Bonower and Lender agree to other terms of payment, these amounts shall bear intetest from the . ,
<br /> � date of disbursement at the Note rate and shall be payable, with interest, upon notice 6rom Leader to Botrower requesting
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<br /> . , paymeni. , . .
<br /> .. �.Mortgage It�urance•If Lender required mortgage insurance as a condition of making the loan secured by this Security . ..
<br /> -. - � lnstrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. lf. for any reason. the
<br /> � mortgage insurance wverage required by Lender lapses or ceases to be in effect,Bonower shall pay the premiams required to . . ; _ .
<br /> . � obtain wverage substancially equivalent to the mongage insurance previously in effect,at a wst substantially eqvivalent to the , :
<br /> � � cost to Borrower of the mortgage insurance previously in effect. from an altemate moagage insurer approved by l.eader. Jf
<br /> substantially equivalent mo»gage insurance coverage is not available.Bonower shall pay to L.ender each month a sum equal ro • •. —
<br /> :,: ..�� � . one-twelfth of the yearly mongage insurance premium being paid by Borrower when the insurance coverage 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 /90 •
<br /> � � ��BViNE1�9zi2�-o� vaqo 3 0�6 ��a�a�s:
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