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<br /> ; . . �. ` 5. HBZard or Property Insnrance. Bom►wer shall keep the improvements aow existing or hereafter erected on th�.:-•• . ` , `.
<br /> .� -° Prc�perty insured against loss by fire..ha�ards included within the tettn"extended coverage" and any other t�a7ards. including ,.::� Q .
<br /> � flaods or flooding,for w6ich Lender requires insuiance. This insurance shall be maintained in the arnounts and for the periodsCg " `
<br />- �� ` : that Lender requires.The insauance carrier providing the iiuurance shall be chosen by Bosrower subject to L.ender s approva�O ,
<br /> � � �'� `.=- �-= which shall not be unreasonably withheld. If Borsower fails to maintain coverage desc:n�ed above. Lender may, at Lender's� �` ..°
<br /> "`"'�� option,abtain coverage to protect I.ender's rights in the Property in accordance with paragraph 7. , '� �
<br /> - " � All insurance policies and renewals shall be acceptabte to I.ender and shall include a standard mongage clause. Lender � •�,f ��. ���
<br /> - " • •� � shaU have the right to hold the policies and renewals.If Leader requires.Borrower shall promptly give to I.endec all receipts of � ' -,
<br /> "'``, ` � `� paid premiums and renewal notices.In the event of loss.Borrower shall give pmmpt notice to the insurance carrier and Lender.
<br />- - • `�` Lender may make proof of loss if not made promptly by Borrower. ` ` ` .
<br />. . . . . i ".��r..:-� . , ..
<br />- Unless Lender and Borrawer otherwise agree in writiag. insurance proceects shal!be applied to restoration or repair of the � :._i.
<br /> � ,f,': Property dau�aged,if the restoration or repair is economically feasibte and Lender's securiry is not lessened.If the restoration or ` F,'��`�
<br /> " ' � repair is aot economically feasible or Lender's security would be lessened<the insurance proceeds shall be applied to the sums -_
<br /> � •`_ �� secur�d by this Secvrity Instrument, whe.ther or not then due, with any excess paid to Borrower. if Borrower abandons the °�r'� '��
<br /> _, � - � �� Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then � � __
<br /> ` '{ Lender may collect the insurance pmceeds. Lender may use We proceeds to repair or resiore the Pr+operty or to pay snms --
<br /> secured by this Security Instniment.whether or nat then due.The 30-day period will begin when the nouce is given. � _ _
<br /> � ' � Unless Lender and Borrower otherwise agree in writing, any application of praceeds to principal sha11 not extend ar ��� `••'`'
<br /> �� • postpone the due date of the monthly paymenu referred to in paragraphs 1 and 2 or change the amount of the payments. If �� ` ��
<br /> � under paragraph 21 the Property is acquired by Lender.Bormwer's right to ang insurance policies and proceeds resuldng from . :`,� ;�A
<br /> _ . • damage to tl�e Property prior to the acquisiuon shall pass to Lender to the extent of the sums secured by this Security Instrument �
<br /> .::�:.��
<br /> , ..- -- - immediately prior to the aaJa'ssition. L ��--
<br /> ` � .. , 6.Oc�capancy,P1�eservation,Mainteaance and Prc►tectlon of the Property;Borrower's Loaa Applicatlon;I.easeholds. •�- �;x=:._
<br /> • � Borrower si�all ocxupy,establish,and use the Property as Borrower s principal residence within sixty days after the executIon of °� ��`"���^`==
<br />" � � � ' this Security Instrument and shall continue to accupy the Property as Borrowet's principal residence for at least one year after . .'; �' +LL--
<br /> _ J ��:��'_,
<br /> ,. . .;�. the date of occupancy,unless I.ender otherwise agrees in writing,which consent shall not be unreasonably withheld.or unless "� �;::_
<br /> • . - extenuating circumstances exist which are beyond Borrower's a,ntrol. Borrower shall rtot destroy, damage or impaic the : '°�-'--'
<br /> K;,�. ,. , Property, altow the Propeny to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture _ ,`—,.�:
<br /> , action or proceeding.whether civil or criminat.is begun that in Lender's good faith judgment could resutt in forfeiture of the , �� °�,�_`.
<br /> . , �..•.1 Property or otherwise materially impair the lien created by this Security Tnstrument or Lender s security interes�Borrower may �":, �' . ---
<br /> , �•:•.t cnre such a default and reinstate,as provided in pacagraph 18,by causing the action or proceeding to be dismissed with a rliling �: :�;��,,�.
<br /> , , . t that, in Lender's good faith determination, precludes forfeiture of the Borrowei s interest in the Property or other material `'""� -_--
<br /> • impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if ..�-r�-
<br /> � Borrower.during the loan application process,gave materially false or inaccurate informzaon or statemenu to Leader(or failed � ` ''I�
<br /> YnL���.
<br /> ': .�� to provide Lender with any inaterial informadon)in connection with the loan evidenced by the Note.including,but not limited � �•�"�
<br /> . �,� `-'-�-� -• to,representations concerning Borrower s occupancy of the Property as a principal residence.If this Security instrument is on a . � ��_�
<br /> , � � leasehold, Botrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the ' �•����,.
<br /> , ' � leasehold and the fet title shall not merge unless l.ender agrees to the merger in writing. • � • ' �=_
<br /> � , . ' 7.ProtecNon of Lender's Rights is the Property.If Borrower faits to perform the covenants and agreements contained in ;� " `. . -_
<br /> .v,3,:, � ' �� this Security Instrument,or there is a legal proceeding that may signifcantly affect Lender's righu in the Property(such as a � _-
<br /> FY.: . r proceeding in bankruptcy,probate. for wndemnation or forfeiture or to enforce laws or regulations),then Lender may do and : .. 'r_-
<br /> pay for whatever is necessary to protect the value of the Pro�erty and Lender's rights in the Property. Lender's actions may �'�f
<br />'�:%' •� } include a in an sums secured b a lien which has norit over this Securit Instrument, a earin in court, a in • � -
<br /> PY 8 Y Y P� Y Y PP b PY S .
<br />= 1. � : •�;� reasonable attorneys'fees and entering on the Praperty to matce repairs.Although Lender may take acuon under this paragrdph . , • =
<br /> 7.Lender daes not have to do so. �^
<br /> � My amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secured by this � . :=�;
<br /> . • Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the � � -
<br /> � • : . ' date of disbursement at the Note rate and shall be payable, with interest, uport notice from l.ender to Bonower requesting � � . �
<br /> ., - • payment. �
<br /> S.Mortgage Insurance.If Lender required mongage insurance as a wndition of making the loan secured by this Security . .� �_
<br /> Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the� , •
<br /> . mortgage insurance coverage required by Lender lapses or crases to be in effect. Borrower shall pay ihe premiums required to , � .
<br /> . obtain coverage substantially equivalent to the mortgage insurance previously in effcct,at a cost substantially equivalent to the � ..� �
<br /> -. , . cost to Bonower of the m►�rtgage insurance previously in effcct. from an altemate 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-twelith of the yearly mongage insurance premium being paid by Bonower when the insurance wverage lapsed or ceased to
<br /> � ' be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve � �.. .
<br /> . ' Form 3d28 9/8d . .
<br />�: _ ' � Pa90 3 0l B . .
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