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<br /> S. Huii�rd oi• Proprrty Insura�tce. Borrc�wcr �hall kccp thc impruvrmrntti ni�cxisting un c�rcaftcr crcctcd un thc
<br /> ('r��perry intiuird ugaintit lutiy hy tirc. ha�.�rds inrludcd �ti•ithin thc trrni "cxtcndr�ruvcragc" an� any othcr hui,ir�r, including
<br /> � Il��ud+ur Iluuding, ti,r whirh l.cndcr rcyuir«insuranrc.Thiti in+uranre sh.ill bc m:�intuinrcl in thc anwwits un�1 fnr thc periuds
<br /> ' Ihut l.ender r�:yuireti.The intiurance rurrier pruviding the insuranc:e shall he ch��srn hy Hnrr�,wer,ubjcct ti�Lrndrr'c;���r�,���i
<br /> which .hall nol hc unrcusonahly withhcld. If Rnrr�iwcr I:iil�to maint.�in rr�vcra�!�dr�rrihrd ,ih��vr. IAndcr nuiy. ai Lrndcr's
<br /> uptiun,obtain covcrugc tn protect l.�ndcr's rights in thc Propcny in accc�rdancc�vith parugruph 7.
<br /> All insuruncc policics und rencwals �;hall bc arceptublc to L.endcr und shall include u stundard mortgugc cluusc. Lcnder �
<br /> shall huvc thc right to hold thc policies and rencwals. If Lender rcquires,eorrawer tihull prrnnpNy give to l.ender uU receipts of
<br /> puid prcmiums and renewul notices.In the event nf luss, 9orrower�hall givc prompt notice to the insurnnce carrier und Lender.
<br /> 'y ' ' Lender muy makc prc�nf of loss if not made promptly by Borrower. -
<br /> Unless L.ender and Borrower otherwise agree in writing,insuruncc prorccds �hull bc applicd tn restoration or repair of the
<br /> Property damaged, if the restoration or repuir is economically Feasible and I..ender's seeurity is not lessened. If the cestoration or �:'?-
<br /> repair ia not economically fc:tsible or Lender's security would be Icssened, the insurance procecds shall bc applicd to the sums . ;;
<br /> ' secured by this Sccurity Instrument, whether or not then due, with any excess paid to Dorrawer. If Borrowcr abandons the ;: ?
<br /> Propeny,or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then
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<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Propeny c�r to pay sums
<br /> - .. secured by this Securiry Instrument,whether or not then due. The 30-day period will begin when the notice is given. .�-
<br /> � Unless Lcndcr and Borrower att�cnvise agree in writing, any application of proceeds to principal shall nat extend or �"
<br /> _ _.;�, postpone the due date of the monthly paymcnts referred to in puragraphs 1 and 2 or change the amount of the payments. If --
<br /> ' ' under puragraph 21 the Property is acquired by I.ender, Horrower's right to any insurance policies and proceeds resulting from -
<br /> dumage to the Property prior to the acquisicion shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> , . � �" immediately prior to the acquisition.
<br /> " 6.Occupancy, Preservation, Maintennnce nnd Yrotectlon of the Property; Borrower's I.oan Appllcation; I.c�seholds.
<br /> . Borrc�wer shall accupy,estahlish,and use the Property as Honower's principal residence within sixty days after the execution of s'
<br />-=-. , this Security Instrument and shall continue to occupy the Property�s Bonower's principal residence for at least one year after
<br /> ,�,.' :�' the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,ar unless
<br /> �:`'..:,:,. extenuating circumstances exist which are beyond Bonower's control. Borrower shall not destroy, damage or impair the
<br /> Propeny, allow the Property to deteriorate, or commit wuste on the Property. Borrower shall be in default if any forfciture �,-^
<br />- ' . _,�• w� r� , b ' I :��..b � a • b...,a� •�.� ab �a fui'FGltiiic u�t�'!c FT�
<br /> �2452 4. fOC�':2^,:if2ES.h.°.:Cl`JI!OS' Z^:SSS^."... .� iIT.�f.'Zt ITS I.i.AuCT 5 vw 3iiu'tIu•S1iC:id wii�u I'CaUZi ii'i
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<br /> • �-� Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Bonower may �
<br />-''"""=°°'�•� cure such a default and reinstatc,as provided in paragraph I8,by causing the action or proceeding to be dismissed with u ruling
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<br /> ;��'-';���•`!; that, in I.ender's good faith determination, precludes forfeiturc of the Borro�ver's interest in the Property or other matcriel -
<br /> .,bn:;;;�, impairment of the lien created by this Security [nstrument or Lender's securiry intcrest. Borrower shall also be in default if
<br /> v,�:;;.�''�' Borrower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed
<br /> —�:._��. ro provide Lender with any material information)in connection with the loan evidenced by the Note, including. but not limited =
<br /> __�,V;��:� ; to, representations concerning Bonower's occupancy of the Propeny as u principal residence.if this Security Instrument is on a
<br /> :--T�='� Ieasehold, Boivower shall comply with all the provisions of the Iease. [f Borrower acquires fee tide to the Property, the -
<br /> __�;;;:�� leasehold and the fee title shnll not merge unless L,ender agrees to the merger in writing. -
<br /> -- --= 7.Proteetion of Lender's Rights[n the Froperty. If Borrower fails to pedorm the covenants and agreements contained in
<br /> -=r= this Securiry Instrument, or there is a Iegal proceedinb that rnay significantly affect Lender's rights in the Property (such as a
<br /> ______._-__ procecding in bankruptcy, �robate,for condemnation or forfciture or to enforce laws or regulations), then I.endcr may do and
<br /> ---_::.�� pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Ixnder's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearinB in court, paying
<br /> -�K� reasonnble attorneys'fees and entering on the Property to make repairs. Although I.ender may take action under this paragraph
<br /> 6�_ _ 7,I.ender does not havc to do so.
<br />: ____'�� � Auy wnounts disUursed Uy Lender under this p:sragraph 7 shall become additional debt of Borrower secur�d by this _ -
<br /> - — Security Instniment. Unless Borrower and I.ender agree to other terms of payment,these amounts shall bear interest from the —_
<br /> ---- date of disbursement et the Note rate and shall be payable. with interest, upon notice from Lender to Bonowsr requesting
<br /> payment.
<br /> _-"�"�=-=- 8.Mortgsge Luurance.If Lender required�nort�age insurance as a condition of making the loan securcd by this Security
<br /> -----�'�_.� Instrument, Borrower shall pay the premiums required to maintain the mortgege insurance in effect. If, for any reason, the
<br /> �:���� s fi g �l Y P P Y P required to
<br /> _ . :9„ mort a e insurance covera e r uiird b Lender la ses or ceases to be in effect, Bonawer shall a the mmiums
<br /> -r�`•"'�`���' obtain covcra c substantiall
<br /> , ,, , g y equivalent ro the mongage insurance previously in effect, at a cost substantiuUy equivalent to the
<br /> _ -... :_ cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If ---
<br /> ` "',�'"° ; substantially equivalent mortgage insurnnce coverage is not available,Borrower shall pay to I.ender each month a sum equal to =
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<br /> -s� , . � one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to ��-
<br /> - be in effect. C.ender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. L.oss reserve —_--
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<br /> ''" Form 3028 9I90 ��'
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