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<br /> ' . ` �8- iG�,�32 � � �
<br /> -. . � � ;�� 5. Hazard or Pcoprrty Iasnrance. Borrower shall kcep the improvements now existing or hereafter erected on ttie , . � ..
<br /> • � ' � Property insured against toss by fire.hazards included within the term 'extended ooverage" aad any other hazards. including � .
<br /> ' ' ttoods or Qaoding,for whicb Lender requires insurauce.T6is insurance shall be maintaiaed in t6e amo�mts and for the periods ' `
<br /> , r that lxnder tequires. The iasurance carrier providing the insurance shall be chosen by Bonower subject to lxnder's approval . ' .
<br /> � . -- wtrich shall not be unreasonably withheld. If$orrower fails to maintain coverage dcscribed above, Lender may.at Ixnder's _ • ``� � •` '
<br /> , -=,r:`Y.: option,obtain ooverage to pmtea Lcnder's rights in the property in accordauce with paragaph 7. - _ �- - _
<br /> � All insw�auce policies aad renewats shall be acceptable to Lender aad shall include a standard mortgage clause. Lender ''`
<br /> ' shall have the right to hotd the policies and reaewals.If Lender requires.Borrawer shatl promptiy give w Lender all receigts of • �� : �
<br /> .�. �• paid premiums and cenewal notices.In the event of loss,Bomuwer shall give prompt nouce to the insuraace carrier and l.eader. . ``. `
<br /> , - Lender may make proof of loss if nat made Pi'omPUY bY Bosower. r:� . � .` ..
<br /> � ` Unless Lender and Borrower otherarise agree in wridng,incnranrE pmeeeds shall be applied W msW�aIioD Or tepair of iite �;:���.'f.- ; -
<br /> � Property damaged,if the restoradon or repair is economically feasi'ble and LendePs securiry is not lessened.If the restorarion or , ---
<br />- '. zepair is not eoonomically feasible or Ixnder's security would be lessened,the i�c�++�.+c�pmceeds shall be applied Lo the sums -. ',;<.;-'.
<br /> . � sewred by this Secucity instn�-_*�*+*,whether or not Wen due, arith any excess paid to Borrower. If Borrower abaudons the •
<br /> . • � Property.or does not answer arithin 30 days a notice from Lender that the�++�+�*Anse carcier has offeied eo settle a claim,thea : ,' =
<br /> ��w�,,:
<br /> . ieader may collect the insvrance pmceeds. I.eader may use the pmceeds to mpair or restoie the Pmperty or to pay susas • - -__-
<br /> . � s�cured by this Se�vrity Instrumeat,whether or not then due.The 3Q-day periad arill begia when the notice is given. � __
<br /> � ' . Unless L�ader and Eormwer othecarise agree in R�riting, anY apPliqtion of proceeds to principal shall not extend or '� y -_--
<br /> � gostpoae the due date of the monthty paymeuu referred to in paragraphs 1 and 2 or change the amount of the payments. If _• ��'�" '=
<br />_ ..� � � under paragnph 21 the Pmperty is acquired by Lender,Borrower's right to any incnran�e polioies altd proceeds Iesul�iug from . �'•'�:�€-
<br /> .� ' . ' �- �`.• damage w the Piooperty prior to the acquisition shaU pass to I.ender to tiie extent of the sums secumd by tHis Security Instrumeat _ _ ' �'F`"��=
<br /> . .: . • '.'• immediately prior to the acguisition. • � �'���j
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<br /> • . .y�4� 6.Occupaaty,Preservation.Maintenaace and Protectton of the ProPertp:Borrower's Loan ApplIcatlon;I.easeho2ds. .. ' <,':�..:r,--:
<br /> . . .. ° ' <, Bormwer shall occupY,establisL,and use the Properry as Bormwer's principal residence arithin sixry days after the exec,ution of ' ,.��.;
<br /> .,:.:�:_.�'�;�`- ..
<br /> � - - this Security Insuument and shall continue to oc�cupy the Property as Bortower's principal residenee for ai least one year after }.n .=:�""'�
<br /> , �.� r�:.__:
<br /> , . the date of aaupancy,unless Lender otherwise agrees in writing,wtuch consent shall aot be unieasonably arit6held,or ua2ess , . '••�';'��;.
<br /> . � • extenuating circwnstances exist wluch are beyond Borrower's control. Borrower shaU not desuoy, damage or iatpair the � �``��=_
<br /> ' � � Pcoperty, allow We Property to deteriorate, or commia aaste on the Property. Borrower shall be in defanit�an}r forfeitnre ' . '���`
<br /> . Y action ar roceeding,whether civil or criminal,is beg�that in Lender's ood faitb'ud �: ' ��
<br /> p S ] �ent coutd resait in�-€eihue of tfie ' �,��_�:
<br /> .� Propeny or otherwise materially impair the lien created by this Security lnsuument or l.ender's security interest.Borrocrer may � '•`g '�.
<br /> " �� cure such a de`�:lt and reinstate,as provid�.in paragraph 18.by causaaa the action or proceeding to be dismissed with a n�a�� . ,. <,':=v- :_
<br /> � � �� that, ia Lender's good faiW deternunarion, precludes farfeiture of the Borrower's interest in the Properry or other material •• �;��'�_
<br />= . � . . � impairment of the lien created by this Security Instrument or Lertder's securiry interest. Borrower shall atso be in default if ' ' ��,�
<br />_ ._ _, Borrower,during the loan applicatioa pmcess,gave mazerially false or inaccvrate informarion or statements to l.ender(or faited % ��'�
<br /> ' � ' to pmvide Lender with any material information)in connection with the loan evIdenced hy the hote.including,but not limited . ;.�._::��;
<br /> . to,representaaons conceming Borrower's occupancy of the Property as a principal resideace.If t5is Securlry Insuument is on a ;. '� ; . �:`"����
<br /> . leasehoid, Borrower shaU comply whh alI the provis'sons of the lease. If Borrower acquires fee tide [o the Pcoperry, the ` �` '"=s
<br /> .� . ` teasehotd and the fee tide shaU not merge unless Lender agees to the merget in writing. . ``.;'��°��..
<br /> . 7.Protectlon of I.ender's Itights in ti�e Property.If Borrower fails to perform the covenants and agreements contained in -�..
<br /> ' . - this Security Insmrmem,ar there is a tegat graceed�ng that may significantly afFect Lencler's righu in the Property(saeb as a � . �°
<br /> ' . praceeding in bankruptcy,probate, for condenuiation or forfeiture or to enforce laws or regulations),then Lender may do ar.d. ' � ''�'�-
<br /> - . � pay for whatever is necessary to proted the valae of the Property and Lendet's righu in the Property. Lender's actions unay '. �*._-_
<br />: � . i iaclude paying any suu�s secure� by a lien w}ucb has priority over this Security Instrument, appearing in court. paying � � ` . -
<br /> . , reasonable attorneys'fees and encering on[he Properry to make repairs.Althoug6 Lender may take acaon under chis paragrap8 .:;;lr, .: ,.
<br /> � '�,. 7,Lender does not have to do so. , • .
<br /> _ • My amounts disbursed by Leader under this pazagraph 7 sha11 become additional debt of Borrower secured by t�is • -
<br /> • • Security Insuuraent. Unless Bonowsr and Lender agree to other tenns of payment,these amounts shall bear interest from the ' ' .
<br />- . • date of disbutsement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requesting � `; �. �
<br /> : � payment. ' � " .
<br /> � 8.14➢ortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security � . . • .
<br /> Instrument. Borrowes shall pay the premiums required to maintain the mortgage insurance in effect. lf, for any reason, the : .
<br /> � mortgage incwance coverage required by Lender lapses or ceases to be in effect,Bonower shall pay the premiums required to .
<br /> +� , obiain coverage substantially equivalent to the mortgage insurance previously in effect.at a cost substantIally equivalent to the � . . .� '
<br /> . • ��} cost to Bonower of the mortgage insurance previously in effect, from an altemace mortgage inswer approved by Lender. lf . �
<br /> � • substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to _
<br /> �� . one-twelft6 oP the yearly mortgage 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 insursutce. Loss reserve ' - ..
<br /> J Form 302/8�9/90 : � :. �
<br /> ,1 ��BRINE)�92���.m vape 7 0►s imi+ai9�G.a ';,
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