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<br /> � . . .;� �. g��� p�p�r Insuraace. Borrower shall keep the improvements n�existing or heieafter erected on the . • `•
<br /> �.`�. ,; Prop�„Ry insiurd against loss by fire.hazards included a+ithin the term "extended caverage° and any other haiaTds. including (� . ... ._ ,.;r �`
<br /> ' ' Raods or floodiag.for which Lender tequues insurance.This i*+��*+nce shall be mai�xained in thc araounu and for the periods� ���Y•.�,'�. ,
<br /> ' that l.ender requires.The insurance carrier providing the inst�rance shall be chosen by Borrower su bject to L.e n dec's a p p r o v a l � � :
<br /> • , . ,` �� which shatl not be unn:asonably withheld. If Eoaower fails to maintain wverage described above, Lender may. at Lender's � , �:�.�� E
<br /> .. S�. . . •,i Y'.4.•,.;
<br /> .. ,._�:., option.obtain coverage to protect L.ender s rights in the Property in ac�ordance with paragraph 7. .
<br /> � '� � � � All insurance policies aad renewals shall be acceptaBle to Lender and sfiall include a standard mortgage clause. L.ender� '�`-��� �
<br /> t .��.
<br /> =-=='�"�'�'=�f shall have Ehe right to hold the policies and renewals.If Lender requires.Borrower shatl pror�dy give to Lender ali reoeipts of� :- -
<br /> � , y.. ``� paid piemiums and t�enewal notices.In the event of loss.Borrower shall give prompt notice co the insurance rarrier and Lender. � t`.` •
<br /> � Lender may make praof of loss if not made promptly by Borrower. � �Y�=r�
<br /> � - ' Unless I.ender•and Bomnwer otherwise agree in writin8.insurdn°e Proce�s shall be appGed to rescoration or repair of the � �'�� ' •. . ; _
<br /> -:•.{..;
<br /> _ _ . .- - - � Froperty damaged.if the restoration or rapair is economically feasible and Lender's security is not lessened. If tfte restotatiot►or �s.`:::�.•:.:':, -:.
<br /> �� ` s'�"` air is not economically feasi�ble or Lender's security would be lessened,the insurance proce�ds shall be appGed to the sums _
<br /> �1` " ., . ., :f. rep �� ;, y , .
<br /> - - secured by this Security Insuument,whether or not then due, with any excess paid to Borrower. If Borrower af�andons the
<br /> �`c,' � propeny,or daes nnt answer within 3Q days a notice from Lender that the insurance carrier has offered to setde a clairn.thea .°•' '' _
<br /> - I.enGer may collect the insumnce pro�eeds. Lxnder may use the proceeds to repair or restorc the Property or tn pay sums ,.,.,c� :
<br /> •�� � ' secured by this Seauity Insuument.whether or not then due.The 30-day period a+ill begin when the notice is givea. _
<br /> .�.'� , �� �r Unless l,et�er and Bomower otherwise ag�ee in writing> any applir�tion of proceeds to principal shall not extend or ' `•7 ---
<br />�:= .� - postpone the due date of the monthiy payments referred to in paragraphs 1 and 2 or change the a�uou.� of the�aymem L� .
<br /> � � under paragraph 21 the Property is acqe►ired by l.ender,Borrower's ri�ht to any inswance policies and praceeds resulting from
<br /> _ ,.2 damage to the Property prior to the acquisItion shall pau to l.ender to the extent af the sums secared by this Securiry Instsument , . _ :
<br /> x .� . immediately prior m the acquisition. t _ ;;:_
<br /> . .. :.�__
<br /> ' ,_ . ... ---..�+ 6.Oocupancy,Preservation,Maimtensuce and PcoteMion of t6e propeity;Borrowe�s Loan Appllcation;I.ease@aids. . .
<br /> . �'-� Borrower shall accupy.establisli,and us.the Property as Borrower's prinapai residence within sixty days after the execucion of ��"'�
<br /> � this Securiry Instrument and shall continue to occ�py the Property as Borrower's principal residence for at least one year after '�_
<br /> � '`,�� the date of occupancy.unless Lender otherwise agrees in writing,which cansent shall nat be unreasonably withhetd.or unless
<br /> --"a exteauating circumstances exist which are beyond Borcower's canunl. Borrower shall not destroy, dama�e or impair the __ � `-`
<br /> ,ry �
<br /> � Pcoperty, allow the Property to deteriorate, or wmmit waste on the Property. Borrower shaU be in default if any forfeiture ,,;�;
<br /> �:• : .,--
<br /> `� ' actian or proceeding.whether civil ar criminal.is begun that in I.ender's good faith judgment could result in forfeiture of the ° .:•.-._
<br />��"F � ', . Property or otherwise materially impair the lien created by this Security Instrumem or Lender's security interest.Borrower may , _=_
<br /> �'•"; '
<br />�Rn'�;'';_:..',.": cure such a defauit and reinstate,as provided in paragraph 18,by causing the aaion or pmceeding to be dismissed with a n�ling ��:�..'� __ _
<br /> �`�-" . that, in Lender's good faith determination, preclades forfeiture of the Borrower s interest in t he P roperty or o t her ma t e r i a l �
<br /> , impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if " � ,�,:y:�
<br /> �•.�� ��•'� . ����•"'�..'�' Horrower.during the toan application process,gave materially false or inawurate informaaon or statemenu to I.ender(or failed , ! � .,,:�y�
<br /> . ��'�� ,.. . to provide Lender with any materia!infomiauon)in cannection wiih the loan evidenced by the Note.including,but not limited .,-�
<br /> '� �- ' -:. �,.�� to,representations concerning Borrower's occupancy of the P�vperty as a principal residence.If this Security Instrument is on a .. - .� _ _
<br /> r; :-.- ..
<br /> +�' � leasehold; Borrower shall comply with ail the provisions of the Iease. If Borrower acquires'fee title to the Property, the ����..`: " _
<br /> ' � �. ' leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ��`�,,. .��---
<br /> 7.Prolection of I.ender's Rtghts in the Property.If Borrower fails to perform the covenants and agreements wntained in • •.-
<br /> �.: ��,��-�
<br /> ' � � • . this Security Instrument.or there is a le�al praceeding that may significantly affect Lender's rights in the Property (such as a � .:�.' `- �•,
<br /> - � �° � praceeding in bankruptcy,pmbate, for condemtmtion or forfeiture or to enforce taws or regulatians).then Lender may do and �� .�''_
<br /> �' � pay for whatever is necessary to protect the value of the Property and Lender s ri,,r.hts in the Property. Lender's actions may :�` �`� '� _�_
<br />_�; . : ' � • include payiag any sums secured by a lien which has prioriry over this Security lnstrument, appearing in court. paying _.'_" _
<br /> '. '�`. reasonable attomeys'fees and entering on the Property to make repairs.Although I.ender may take action undcr this paragraph —
<br /> `' • � ��'" �� ��� 7.I.ender daes not have to do so. '• �
<br /> '" • � Any amounts disbursed 6y l.cnder under this paragraph 7 shal! become additional debt of Borrower serured by ttus ,' , � -
<br /> '� ' Security Instrument. Unless Boaower and Lender agree ta�ther terms of paymem.these amounts shall bear interest from the : -_ •_
<br /> r,.. • .
<br /> � : date of disbursement at the Note rate and shall be payable, with interest. upon notice from Lender to Bonower requesting . ,. _ :'. :
<br /> .. .. . . payment. � • • . .
<br />_�. :� ,•� .. S.Mortgage Insurance.If Lender required martgage insurance as a condition of making the loan secured by this Secvrity
<br /> Instrument. Borrower shall pay the premiums required to maintain the mortga�� insurance in effect. If. for any reason, the
<br /> - � mortgage insurance coverage required by Lender lapses or ceases ta be in effea. Borrower shall pay the premiums requited to : �
<br /> . . obtain coverage sabstantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the ,_
<br /> � wst ta Borrower of the mortgage insurance previously in effect. from an aitemate mortgage insurer approved by Lender. If •• •
<br /> • • • � substantially equivalent mortgage insurance coverage is not available. Borrower shall pay to Lender each month a sum equal to • .
<br /> � one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the inwrance coverage lapsed or ceased to � •
<br /> �'�•',, � be in effect.I.ender will accepi,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve : '
<br /> , .
<br /> ti":� .
<br /> Form 3028 9/90
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