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<br /> , �'. . � � � � 9�° ����o� - � �
<br /> ;` . ` . :,� • S. Bamrd ar Property Insm�ance. Borrower shaU keep the improvements now existing or hereafter erected .
<br /> loss by fire 6azards included within the cerm 'excended coverage"and any other haraids. including `, '
<br /> , • � � Properry insured against . . ..
<br /> , - --� .; Aaods or flooding,for which Ixnder requires insu�ance.T�1II��1 be maintaiaed ia the amounu and for the periods `
<br /> . ` ,� that I�nder requires."I'he insuraace cazrier praviding the insuiance shall be chosen by Borrower subject to Leader's approval _--_:._- _
<br /> - - ;-i w 1 u C h s h a t l n ol be ttttteasonabl y wilh$etd. If Bormwet f211s[o rr+aintain covet3ge desCtt�ed ab�ve. Lender may. as Lender's
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<br /> . .. • ; ; o p t io n,obtain cove r a ge to pmteci Lender's rights in the Pmperty in accordance arith paragraph 7. . ,
<br /> i All insuraace policies aad renewals shall be acceptable w Leader and sball iac tu de a s t�d a r d mo rtg a g e c l a u s e. L.e n d e r y
<br /> ' } shall have the right to hold the policies and renewals.If Lender requiies.Borrower shall promptly give to Lender all reexipts of ,
<br /> � . � `•I paid premiums and m¢ewal nouces.In the event of Ioss.Bonower shalt give pmmpt nodce to the insurance caaier and i.ender• . ,. ,i=
<br /> �' ' . Leader may coake praof of loss if not made pmu�dy by Barrower. :`;;�;
<br />';;t� � . ` Unless lender and Eorrower othe�arise agree in writing,insurance proceeds shall be applied to restoration or repair of the _ . '�"-
<br /> .:'�:a.-.�:�
<br /> � .. �P�Y�g�,if the restoration ar repair is economicallY feasible and Lencteir's serurity is not lessened.If the restorauon or .,,,,.
<br />�.<',' � . . `;`,_.� tepair is not economicalty feasible or Lemter's security would be lessened,the insuranoe Frooeeds shaU be applied to the sums , : 'y,_--_
<br /> �, } secumd by this S�curiry Insuument, whether or not thea due. with any excess paid to Borrower. If Boaower abandons the t � --g'-
<br /> ' �' �j pcoperty,or does not answer within 30 days a aotice from Leader that the insurance cazrier�S offered to seitle a claim,then _
<br /> =4. : . Lender may coltect the in��r�sp pmceeds. Lender may ase the pmceeds w repair or restore the Property or to pay sums
<br /> `•: � � ad will isegin when the aotice is gtven. • '``� __
<br /> ;�: � .. seraued by this Sesurity Insuument,whether�or no�then due.Ttse 30-day peri
<br /> ''r . , Unless Lender and Borrower otherwise agree in writing, anY aPPlicatioa of praceeds to principal shall not extend or
<br /> .: -`�::�:
<br /> -°�•� postpone the dne daze of the mont6ty paytnents refetred w in paragrapbs 1 and 2 or change the amount of the payments. If ',`.:��' __�
<br />_ . � --•- u a d e r p a r a g r a p h 21 the Pro p e rt y is a c quired by I.ender,Borrower's ri$ht w any insurance policies attd praceeds resatsing from '�:.� ., '....,�
<br /> °� � damage to the ProP�Y Prior to the acquisiaon shall pass to Leader to the excent of the sums secured by this Security rn �.n t •'��,_,,
<br /> � . • � . immediately prior to the acquisition. . ' "
<br /> ; • � 6.paupancryr.Presesvation,Maiateaance and PmtecUon of the Yroperiy,Harrower's Loan AppIIcat�on:Leaseliolds. ��,�
<br /> :-r• -� . -, ;` gorrower shall occupy,establish,and use the PropenY as Bnsrower's principal cesitieuce wishia sixty days after the eaecution af ..:----
<br /> ;_c.::;,�":�:
<br />-,�=: r '", t h i s S e�c u r i ty rn�n,m�,t and shaIl continue to occupy the Property►as Borrower's principal resideace for at teast one year after �� ,..:` --
<br /> '•`` [h e d a t e of occu p a n c Y,untess Lender otherwise agrees in writing,which conse,at shall not be unreasonably wit h h e l d,or u n less t•' "�. .��7,y
<br /> :a' • "�f •�'-
<br /> extenuating cucum�tances exist which are beyond Borrower's wnuol. Borrower shalt not desuoy. damage or impair t he :,. :,`f,. �
<br /> Property, altaw the PcopertY w deterioiate. or commit waste on the Pcoperty. Borrower shall be in default if any forfeiture �.. ..�
<br /> - �� ' acaon or praceeding, whether civil or criminal.is begiw that in Lender's good faith judgment could result in forfeittue of the �F .- ;;;'�
<br /> � • pcoperty or otherarise materialty impair the lien created by this Security Insuument or Lender's security interest.Borrower may , -
<br /> . cure such a default and reinstate,as provided in paragraph 18,by ca»sing the action or praceeding to be dismissed with a nding __`
<br />' � � that, in Lender's good faith detetrnination, Precludes forfeituce of ttte Borrower's inter�st in the PropeRy or other materIal _ '�.'.i�_
<br /> impaument of the lien created by this Securiry Instrument or Lender's security interest. Borrower shall also be in default if ^:�^F;-
<br /> Borrower,dnring the loan application process,gave materially faise or inaccurate information or statements to Lender(or fa�eQ .'����T"
<br /> ' to provide Lender with any material informarion)in connection with the loaa evidenced by the Note,including,but not limited . � ��,
<br /> . � . ' to,mPresentations conccrning Eoaower's occupancy of the ProPertY as a Principal residence.If this Security Insuument is on a .�,
<br /> � • �� leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee titte to the Property. d►e . . . �'` � _
<br /> ���� �� leasehotd and che fee tide shall not merge unless Lender agrees to the merger in writing. . . , ;.
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<br /> �. � 7.Ptotecuon of Lender's Rights In t�e Property.if Borrowes faiis to perform the covenants and agceements contained ia ,_ , _
<br /> ';�-` . this Securiry Instmment,or there is a legal procecding that may sigaificantJy affect i.ender's r�ghts in the Property(such as a _
<br /> ' • , procxeding in baniauptcy,probate, for condemnation or forfeirure or to enforce laws or regulacions),then Lender may do aad
<br /> � . pay for whatever is necessary to protect the value of the Properry and Lender's rights in the Property. Lendei's actions may
<br /> . iaclude paying any sums secured by a lien which hag priority over this Securiry Insuument. appearing in court. Paylpg `t,;>
<br /> .!.;.+ _ • reasonable attomeys' fees and entering on the Pcoperty to make repaiis.Although Lender may take action under this paragraph
<br /> 7,Le�tder does not have to do so. . • '
<br /> My amounts disbursed by Lender under this paragraph 7 sha11 become additional debt of Borrower secured by this -
<br /> � Securiry Insmiment. Unless Bonower and Lender agree to other terms of payment.these amounts s1ia11 bear interest from the , •
<br /> ' date of disbursement at the Noce rate and shall be payable, with interest, upon notice from Lender to Borrower reqaesting • ;
<br /> ,, , . payment. ' .
<br /> � S.Mortgage lnsurance. If Lender required morigage insurance as a condition of making the loan secured by this Secarity
<br /> ' instrument, Bonower shall pay the premiums required to maintain the mongage insurance in effect. If. for any reason,the �
<br /> �.� mortgage insurance coverage required by Ixnder lapses or ceases to be in effect.Borrower sha11 pay the premiums required to .
<br /> ' � obtain coverage substantially equivalenc to the mongage insurance previously in effect.at a cost substantially equivalent to the . •
<br /> ��1'' � cost to Bonower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. lf , ',�
<br /> . i ,
<br /> �. • ! substantially equivalent mortgage insurance coverage is not available. Borrower shall pay to Lender each month a sum eqnal to
<br /> ' � one�twelfth of the yearly mortgage insurance premium being paid by Borcower 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 insura�ce. Loss reserve
<br /> � form 3028 9/90
<br /> , -' � ��RtNE)iexiz�.oi vayo a oi s �r,�t�m�:� .
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