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<br /> _ . : . ; , 5.Ha�asd or Propertq I�saraace. Bormwer shall keep the unnprovemeuts now existing or hereafrer erected on the Prope�ty � , � � �
<br /> � � u�red against loss by 6re, hazards included within the term "exteaded coveaage" and any othea ha�ards,incWd'mg Qoads or �
<br /> -:3 flooding for which I.ender:equires insuranc�This insurauce sball be wanntaiaed in the amonnts aicd for the paiods that Lemder � ` . . :
<br />_ — - - ' � recluires.The insurance�provid'mg the ins�rance shaU be chosen by Borrowe,r subject to Leader's approval which shall aoi� �. ` -- _ .
<br /> � �;� be im�easonably withheld. If Borrower fa7s tn maintain coverage descn'bed above, Leade,r may, at I.ender's option, obtain j ` .. .
<br /> coveiage to pmtect I.ender's sights in the Propaty in accordance win3 paragraph 7.
<br /> � All m.s�uance policies�d cenewalv sGall be acxeptab2e tn Lendea and shaIl u►ctude a standard mortg�e clause.Lender sba� --. :
<br /> • , have the right w hoId the pohaes and reuewals.�f Lender requffes,Baamwer shaD pmmpily give tn Leader all reoeipts of ' _. _ , . ;- ,
<br /> ' � . precnnuns and renearai no6ces.In the eveat of toss,Boaower sdall gi�e PiomPt notice to the a�svrance cazrier and I.ea�d�.I.en� ' • •. 4•
<br /> ( � may make proof of toss if not made promptly by Borrowea. . � ` �
<br /> .�.,_. . ,:.�.:'
<br /> Unles�I.eadet�d Boa�uer othelwise agree m writmg,instuaace pmceed,c s4�4all be applied to tes�ation or r�aez of tt� ;<. . •<.,.,;,��,-
<br /> � �F�Y��,if the�on or repair is economically feass�]e anfl Ieude7's security is not lessened if ttee r��s ar :,; , � �..;,,;�,�
<br /> ' � rep�r is not ecunomicaIly feanble or Leader's seauity would be Ie�ed.the msviance proceeds shall be applied w the s��.c , • : 4�
<br /> • .y� seaued by this Sea�uity Inst�umenE,whe�or not then due, wiib�y excess paid w Bormwea. If Bormwea abandons the ` •°'-
<br /> praperty,ar dces not answ�wqhia 30 days a notice from Ix,ader that the insurance c�ier has offeted to seule a claim,Weu � � � ;�'.� _-
<br /> � Leader may coltect the insivance procceds.L,euder may use We pmcceds w repair or restore the Propecty or w pay sums sec�ued . ' ;;;� �
<br /> ' :� by this Sec�my Instrmnent,whether or not ttiee�due.'!'�e 30-day period will hegin when the noticc is giveu. �, -`_.:- .�
<br /> T '-"
<br /> Untess Lender and Bolrower oth�wi.�agree m writing,any application of pmceeds oo grincipal s6a11 not extemd or postpone '��'
<br /> the due date of the montiily payments ceferied w m paragraphs 1 and 2 ar change the amount of the paymcnts.If aade�paragraph . , ����
<br /> . z_�.,
<br /> = 21 (l1C Pt0 LS -— a•�
<br /> . � perg+ ' asquired lsy Lender,Borrowa's rigdt w any insurance policies and pmcxeds resuitu►g fcam damage to the . .•�'.E._:-�.
<br /> Property prior w the acquisition shall pass to l,ender to the extent of We sums secured by this Security Insmiment immediatcly �p �";�,�.
<br /> : priar ro tde acquisition. . � �,�1;�"���
<br /> . � 6•�auPBII�Y+PiQSPxvatto�Maintonance aIId Prott�on otthe Froperty: Borrawer's Loaa AppW�tton.l.ea�e6otds. � `�--�`"-<-
<br /> � � Borrower shall occupy,e.stablish,and use the Property as Boirower's priacipat residence within sisty days atter tAe execution of � :`;:�_
<br /> s� �. td�s Socurity Instrument and shall conriaue tn occupy the Proparty as Borrower's principai residea�ce far at Ieasi one year aftea the '':`�"`�
<br /> �� - • date of occu ancy, untes� Land� otAerwise , . �`.. �
<br /> p aSrees in writing, which consent shall aot be unr�sonably withheld,or untess , � ��•�'
<br /> , � ext�uating cucumstances exist which are beyond Bouower's conuol.Horrower shall not destiroy,damage or impair the Pro�rtyr, � ,' ,�:��-�:
<br /> . . aIIow the Property tn detraiorate,or commit wa�te on the Pbpeaty. Borrower shall be in default if any forfeiwre action or ::'��;:
<br /> pmceeding,whether civil or cnminal,is begun that in Lea�der's good failh judg,�nent caWd result in forfeiwra of the Property ar � " � �:':���'_
<br /> , • otheawise mateaially impair the lien created by this Seauity Insuument or l,enda's security intexest.Bmrowea may pue such a , �
<br /> " default and reinstate.as provided in paragrapb 18.by causing the aaion or pmceeding to be dismissed with a nil�ng that,m :�i�
<br /> �:��,*_
<br /> � . Lendca's gaod faith dcteaminadon,precludes forfeiunre of the Bormwe�'s iateaest in the Propeny or othar material impairment of . ... ,-���;�
<br /> � , the liea creared by this Securiry Ins�ument or Leaded's securiry interest.Bomawer shall also be in defaWt if Borrower,duriag ihe " L y L.�r�=
<br /> . . � Ioan application pmcess,gave materially faLse or inaccurate Wom�atiurn►or statements to Lender(or fa�led w provide Lender with � '''`'
<br /> ma
<br /> . any mateaial iafom�auon) in connec6on with the loan evideaiced by the Note,mcluding, but nat limited w. representations � '" �� '<�r
<br /> ` • conceming Borrower's occupancy of the Propeaty as a principal residence.If this Security Ins�ument is on a Ieasehold,Borrower � , ;_�.
<br /> . s�all comply with all the provisions of the tease.If Botrower acquires fee title to tha P�roperty,the teasehold and the fee dtle shall , , : �;��,�;
<br /> ;.;, not merge�less Lendea agree.s tn the merger in arriting. . .
<br /> _ 7.Prot�n of i.euder's Rights in tC�e Property. If Bomower fa�7s w p�form the covea2n.e and agreeme�ts con�ed� ' �.�_
<br /> . Ihis Security b�.smunenb or there is a Iegal Pmceeding that may signitic�ntiy affeu Leatder's rights in the PraPertY(such as a ;; ' .'=^
<br /> `�;�� � praceeding in banlQUptcy.probate.fos condemnation or forfciture or w enfarce taws or regutations).then Lender may do and pay . . . ...
<br /> ' for whatever s necessary w pmtect the value of the Properiy and Lend�'s righta in the Fiopeny.l.ender's acdnns may include •� . � � .
<br /> � . DaNu�g m�y �s secured by a lien which has priority over this �rity lnstrumen� aFpearing in couri.PaS+mB reasonable • . �
<br /> ;!�` , atwmeys'fces and entering on the Prapertyr to matce repa'vs.Althoc�Lender may take action under this paragrapb 7.I.ender � � � •
<br /> . .� ���.
<br /> � does not have to do so. ..,
<br /> � ' My amo�u►ts disbursed by Lender under this paiag,rraph 7 shall become addidonal debt of Borrower secured by this Secnrity �
<br /> a8�
<br /> .�.;� � , Instrument Unless Boirower and l.ender agree to other tcnns of payment,these amounts shall bear interest from the dat�of . � � .
<br /> � disbursement at the Note rate and shall be payable,with interest,upon narice from Lcnder to Bonower reguesting paymen� , ' " . • .
<br /> '��,t 8.Mortgage Iasurance. If Lende�reqnired mortgage insurance as a condition of matring the toan secured by ihis Stxuriry � ,
<br /> �. � InsUUment, Borrower shall pay the premiums required tn maintain the mortgage insurance in effect. If. [or any reason. the : . . _ --
<br /> mortgage insuiance coverage required by Lender lapscs or ceases to be in effect,Borrower shall pay the premiums required to
<br /> � obtain coverage substantially eqwvalent to the mortgage ins�uance previously in effect,at s cost substantiaUy equivalent to the `�� . :
<br /> cost to Borrower of the mortgage insurance previously in effect,from an altcmate mortgage insurer approved by I.ender. If �
<br /> . � substantially cquivalent mortgage insurance coverage is not available,Borrower shall pay to Lender each month a sum cqual to ''" .
<br /> ; one-twelfth of the ycarty mortgage insurance nremi��m being pai�by Borrower when thc insurancc coverage tapscd or ceascd to � �
<br /> . � . ; be in effec� Lender will accept,use anJ rcu,.n these payments as a loss reserve in lieu of mortgage ins�rance. Loss reserve �
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<br /> � � Form 3028 9/90 ' .
<br /> . �•8R(NE)(o2�2).0� aepoame m�t�au: .
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