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<br /> ` � ', 1 ' S.Hamrd or Property Insurattce. Basower sdall keep the impravements now existing or hemafter erec�d on ths Property
<br />- � " ins�ued agaiast loss by firc. ha�ards included witLin the term"exteaded coverage"and any other ha�ds,mcLiding lloods or � . .
<br />- , . , t. . flnading�fOt whiCb LGlder RqUi�3 ina�ranc�• ��scaance sha�l6e maiataiaed in the amo�mts and for the peaiods that Lender . - .
<br /> - requi�.The insvrance raniea providing the ms�uance shall be chosen by Borrower svbject to Lenctei's appmval which sUall not� .,`'t<:'
<br /> . � be �uueazonab2y withheld. If Borrower fails w maintain covaage descdbed above, I.euder may, at Lender's option,obta� � _ ,
<br /> - -_� vov�age to ptotecx Lender's rights ia che Piaperty ia accordmice arith paragraph 7. � —.
<br /> � . � AIt msarance polides and reaewals s6a11 be asceptable to Leader and sLaU�clvde a standaN mortgage cla�ue.Lender shall 1 '
<br /> . . have the right to hold ihe palicies and reAewats.lf Leader req�ues.Bor�wu sball pmmpdy give to Lender all r�ipts of paid . �
<br />_�. - �me�nitimc and renewal notices.In the evemt of ioss.Barrower shaIl give psompt nouce to the insurance raaier and L.eudei.Leader � 4�
<br /> � may make pmof of Ioss if not made Pr+omPUY by Banower. '� �""'r
<br />_{'_ • , � � Untess Leader and Borrower othern�rise agree m writin&insurance pmceeds shall be applied to reswration or repaa of the .. . `
<br /> ,:: , . .. PropertY damaged,if the restoration or repair is eoonomically feac�ble a�d I.ende.r's secauiry is not tcssened.If the restnration ar � °'". `-
<br /> ,4 • repair is not�onomically feasibte os Leader's secaaity woWd be lesseued,the instuance pmceeds shall be `�� ,,,,E., �.�:
<br /> secured b Wis S aPPlied to We stues <,�,...;: ,_' --
<br />_` . .� ; Y �tnstramenL whether or not then due,arith any excess paid tn Bormwer. If Bomnwer aisandons the > .. .
<br /> �°�` , - . , Prapeaty,or does not ansarer within 30 days a notice fmm Lender that the ins�ance r,arriea has offaed to seule a claim.then �
<br /> �' � � Lendea ma coltect the msivance - ;� ��--
<br /> ;,. . Y D��Lender may ttse lhe praceeds to r�pair or resw:c the Properiy or tn pay sums secured
<br /> 1�: • . by this Secacrity Insaumen6 whethea or not then dae.'I9ie 30-day pe�riod w�l begin when the aotice is given. � ' .
<br /> ;�; . � Udess I.euder and Borrower ahervvise agree m wriimg,anY ePP2ication of procceds w principal shall aot eactend os postpone
<br /> � thc dae dare of We mnndily payments refemed to in pazagraphs 1 and 2 or c.hange the amount of the payments.If uader pazagraph ': •�` ' �
<br />�f: . . . . 21 the P�perly�acquired 6y L.eader,Bor[owet's tigh!(D any in�**�++s�policies and proceeds�g from damage to the �: :'�° '.�'_
<br /> ;`� • , , �P�Y P�or to the acquisitinn shall pass w Lendex to the ea�teut of die sums sec�d by thiis Security Instrument immediately --
<br /> s
<br /> .. . prior w the acquisidon. .;__�-_
<br /> �� , 6.Oa�pancy,Preservatioa,Maintenaace and ProtecUon of the Pm py , �','�`'
<br /> perty; Borrower's Loan A licat�on;Leaseholda, L-��
<br /> � Boaower shaII occuPY,establish.and ase the Property as Borrower's principal revdence within sixty days aftea the acecution of , ,��'_�.---..
<br /> = this Seauity Instrument and shaU contaiae to occupy the Property as Borrowea's princiQal residence for at teast oae year af�Ca the - `. .' i,
<br />�;' date of accapancy, unless Lender othernise agrees in wridng,which consent shall not be tuueasonably withheld,or unless • ' '�-
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<br /> :-1 extenuating cucumstances exist which are beyond Borrowea's controL Bonowea sball aot d damaS F� �P�Y, • ``�---
<br /> �: ; r: esttoY, e or im the -'
<br /> allnw tlte . .i,_ —
<br />:;: �Y � ���, or commit waste on t3ie Property. Borrower shall be m default if any forfeiture acxion ar � _--
<br /> '. `. P��.whether civ�or criminal,is begrm that�Lender's good faith judgment coWd result in fo:feihue of the Plopeny ar -
<br /> ' ' • : otheawise materially impair the lien created b t6is S � ty• y � . • �;, y
<br /> Y e�uit7'Instrume�s os Leaded s sec�nri �nterest Botrower ma cure snc$a . . :�r,=,
<br />:�;� ,�.� . default and reuastate, as pmvided in paragraph 18,b causin the acaion or � :r� :�-
<br /> �` '� Lender's ood faith der��ar y g � P�8 w be disnissed with a niling that,ia ,4:.?:+�.
<br /> .`E;,, . g a4 Precludes forfeiwre of ihe Boirower s intearest m che Property or other material impairiment c_° •
<br /> �� the lien created bY this Sec�ity I�s�trument or i.ender's security mterest Bonower shall also be in defauIt if Ba=rower,du�ing the ' —_-
<br /> - � toan apptica¢�.0 pmcess,8ave matcrialtY faLse or inaccuiate infom�ation or statements to Lender(or faited w provide Lende.r�t5. . .�"'`
<br /> .•;��_
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<br /> ;, ' any matcaial mfom�ation)in connection ariW the loan evidenced by Uie Note, including, but not limited to,repre.ceatatiur�s � . .:';�;_
<br /> ° � conceming Bomower's occupancy of the Pro �'R•._ =
<br /> Pe.rt�+as a principal residence.If this Security Irutrument is on a leasehold,Bomnwer ..-;;?�',�
<br /> " si�a11 comP1Y with all the provisions of the lease.If Borrower acquires fee 6tte to the Propcaty,the Ieasehold and the fee 6ue shall ��=
<br /> .�+ ' ., not merge unles4 Lender a�w Ihe merger in wridng. . . °—
<br /> . 7.Protedion ot Leader's R i g hts in the Pro pe ri y. I f B o r r o w e r t�'.s w p e a f o m i t h e c o v e n a n t s a n d a � °"�-
<br /> greements contamed i�
<br /> ,;,�` this Seauity Instrument,or there is a te8a1 Proceeding lhat maY sig�i�nUy affect I.ender's rights in the ProPerty+(such as a .� . �#-
<br /> . . �:
<br /> ��;;. � PraceedinB In baNuuptcy.probate,for condemna�on or forfeit�c or w enforce laws or regulations).1hen Lender may do and pay . -
<br /> •� . ; for whatcve�is necessary to protect the value of the Property and Lendea's rights in the Propeny.Lendc�'s actions map►include � �
<br /> "''` . . S Paying any sums secured by a lien which has priority over thi� Security Instrumenb aPP�B in court.PaYing reasonable � . . . .
<br /> -` . 1 . auomeys'fees and entering on thc Property w make rcpairs.Although Lender may take action nader this paragraph T,Leud�
<br /> °• ' � does not have w do so. '
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<br />- • � . '� My amounts disbursed by Leride�under this paragraph 7 shall becomc additional debt of Borrower sec�ucd by this Sec�iry �1 �.�
<br /> = InstrumenL Unless Borrower and Lender agrec to othcr uxrns of payment,these amonnts shall bear interest from the date of � �
<br /> • . disbursemcnt at the Note ratc and shall be payabte.witb intcrest,u�on notice from Lender to Borrower requesdng payment � � �
<br /> _ - 8.Morfgage Iosuraace. If Lender rec�uired mortgage insivance as a condition of making thc loan secured by this Sepuiry �
<br /> . lnswment, Borrowca shall yay �he premiums required to mainlain the mortgage insurance in effect Ii, t'ar any reason,the • �
<br /> mortgage insUrance coverage rcquired by L,ender lapses or ceases to be in efft�.Borrower shaU pay the premiums required to �� `� � �
<br /> obtain coverage substantialty equivalent co the mortgage insurance previausly in effect,at a cost suhstantially equivalent tn the ; � � "•
<br />_ . � cost tn Borrower of the mortgage insurance previously in cffecl.from an altematc mortgage insurer approved by Lender. If �
<br /> . substaniially equivalent martgage insurance coverage is not avaitable.Borrower shall pay tn Lender each month a sum equal to "' �
<br /> • '� onc-twelfth of thc yearly mortgagc insurance prcmium being paid by Bo�rowe�whcn the insurance coverage lapscd or ceased tn
<br /> '�. '�• � be in eftec� I,crrder wili accept,use and retain these payments as a toss reserve in lieu of mortgage insurance. Loss r�c . �
<br /> � �•8R(NE)�g2+2�.oi Form 8028 9/90 �
<br />- p Papo 3 018 Inma�l: '
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