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<br /> � ' S.Hazard or�rop�ty Insm aIICe. Boimwer shall keep the impiovements nciw existing or hemaher�d on the Propeity '' °, .
<br /> � . �' j - insured against toss tsy fue,4a�r+ds iactaded arithin the tecm "exteadet!coverage" and aay athca hazards.mcluding floods or ; ..
<br /> _.- ! ttaoding,for which Lender requires insurance.This insmaace shall be maintained in the amouats and for the periods that I.ender � • . - .
<br /> ` , � ; �Cquit¢S.ThC incmnnCC C8T[iPl j)IOVidi11$IhC inc��+anS�Shslll bC CIlOSC�by BOImw¢t Sl1bjCCt IO LCIIdEi's approval which shall aot � , .
<br /> • � be unreasonabty widthetd. If Bor[owe� fa1S to maintain �verage d e s c n'6 e d a 6 o vc, L c a d r s may, a i 1.C,a d e�'s o p i i o n, o b t a i n :-.;—-;---- ---,;;;.,
<br /> • � ; coverage to prouct Iaadea's rights in the Property in acwrdance arith pazagraph T. _ ,
<br /> opert
<br /> . � All ms�ance golicies and renewaLs shall be acceptable to I.ender and shatl include a standard raoitgage clanse.Lender shall �-
<br /> , � , have the right to hold the policies and renewaLs.If L.endea requires.Borcowea shall FmII►PUl+8�'e to I.e�der all ceceipts of paid
<br /> -� premiums aad reaewa!notices.ln the event of loss,Bormwea s6aII give prorr�t notice to the insurance cx�rier and I.ender•Leader -- y'
<br /> . may make proof of Ioss if not made promptty hy Boirower. ;_;�.'.•,�
<br /> Ualess Lender and Soaower otherwise agce u�writing,ins�►ce prflcee�s shaU be applied m restn�on or�epair of the _ � `. ;s: �.�
<br /> ' Property darnaged,if the resmration or rep�aff is econoauc�lly feasi'ble and Lender's secauity is not lessened.If the reswration or , ::-�`.`�..
<br /> • repaa is nat econamicalty feas�Ie or Lerider's sec�uity would be lessened,the ins�ance psoceeds s6aU be applied to the sums • ;`;;�::.,:.
<br /> ' secured by this Security Ins�maut, whether ar not then due,with any excess paid w Bormwea If Borrower abandons the �=�
<br /> � � � �P�Y,or dces Qot anse�ea within 30 days a natice from Lender that the incutaace cazriea has offered w settle a c1aIIn,thw .'° , , :� :�.
<br /> ' Leader may oollect the msatance proceed�.l.euder may os�We pmceeds w r�epair or restnre the Fropaty or tn pay sams s e c u r e d �� �:_-
<br />. , •� by this SeQUity Instrument,ahetfiea or aot then due.'i7�e 3t?-day period will be�in when the notice is given. , '„`:�-=
<br /> . , � ; Ualess La►der�d Bormwex otheawise agree in writing,anY appiication ofvu{�'—_'-to princ'spal shall not extend or postpone . : -�=-
<br /> ` _" • '�„�,'Z7Y�
<br /> ''' the due date of the monthty paymeats referred to in p�hs 1 and 2 or change t6e amouat of the payments.If undea parag�aph . . � .�.�;.:
<br /> 21 the Property is acquued by I.ender,Borrower's right tn any�-arance policies and proceeds resulting from damage to the -'�(Z--•---�` �F�
<br /> ..�. Property prior to the acquisition shall pass to Lender w the extait of the sums secured by this Secarily Insl�ment immediately . � .'!�.�•°
<br />: • prior tn the acquisition. � "�,�
<br /> �:.
<br /> ' 6.Occapancy,Preservatton,Maintenance and Protection ot the Piroperty; Borrowes's Loan App6cation;Leasehoids. ''"^'�':;�.I°
<br /> ',',:.: `', .
<br /> . . Borrower shall accupy,establish,and use ihe Propeaty as Bormwer's principal residence within sixty days aftea the execotion of . .- `.'�="
<br /> �.;-<.:
<br /> ' this Security Tnsdnunent and shall contiwue to accupy the Propeafy as Borrower's residence for at 2east one eaz after the , �'��`'� `
<br /> n PTm� Y ��_'.`�� :-`
<br /> date of occupancy, antess Lx,nder otherwise agras in writing,which conseai sha11 uot be unreasonably withheld,ar m�less v= =: .:-
<br /> extenuating circumstances ezist which are b�.yond Boirower's control.Bocrower sdall not destm .damage ot im air the ' `'���`�i',�
<br /> Y P �P�Y, ' t���;�..;••;,
<br /> ' � . attow the Pmpetty to deteriorate,or cammii waste on tiie Ycoperty. Borrower shaII be in defauit if any frnfeiture actian or , "••�-`
<br /> �--��•:;:�.��
<br />- '� . proceed�g,vubether civil or criminal,is 6egun t6at in Lender's good faith judgmeni could res�ilt in farfeiwre of the Property or .:,:�?,.A.,;.
<br /> . otheiwise mateaially impair the lien created by this Seauity Instrument or I.ender's security interest Bormwea may cure such a :''i�°;
<br /> � defanli aad reinstarc,as provided 'n►paragraph 18. bY causing the action or pmce�ding w be dismissed with a niliag that,in � � ' ���:;'�;_;
<br /> �� � L.ender's gaod faith detenninarion,precludes forfeinuc of the Borrower's inte�est in the Pmperty or ath�material impairment of � �`'`-:`N;=;
<br />. � the lien created by this Security Inswment or Lender's security interest.Bonower shall aLso be in defaWt if Borrower,d�uu�g the � : . .. - �-
<br /> �.�T
<br /> �. loan applicaflon process,gavc mateiialiy false or inaccurate Wormation or statements to Lender(or fa�7ed w provide I.ender with .. �`���`"
<br /> . • any material infomnarion) in wnnecxion with the toan evidenced by the Note, inctading, but not limited to. repzesentations . �:'�i:ti=="
<br /> conceming Bormwer's occupancy of the Propeny as a principal residence.If this Security Instrument is on a leasehotd,Bonower �,•,=:r.;
<br /> � shall comply with all the provisions of�hhe lease.If Bormwer acquires fee titie to the Property,the leaseho2d and the fee dtle shall , � k=-.
<br /> � not merge unIess Lender agrecs to the merger in writing. `��_.
<br /> � .� 7.Protecttoa oY Lender's Rights in t6e Propesty. If Borrower failg tn perfoan the covenants and agreements contau�ed ia � ' . �,
<br /> � � ; this Security Insuwnent,m there is a legal proce�ding that may significantty affect Lender's rights in the ProPeaty(sucb as a � • _
<br /> . • ; proceed'u�g in banlauptcy,probate,for condemnauon or forfeiture or to enforce laws or regulatioasl,then I.endea may do and pay � .
<br /> '�; - for whatever is necessary w protect the value of the Propesty and Lender's rigdts in the Property.Lender's actions may include ' � :: �� �
<br /> � payu�g any sums secured by a lien which has priority over this Security Instrument, appearing in caurt,paying masonablo � �
<br /> ' attomeys' fees and entering on the Yroperty to make repairs.Although Lptder may takc acdon ander this paragraph 7.Lender • � '
<br /> ., .
<br /> �. • daes not have w do so. • '
<br /> Any amounts disbursed by Lender under this parag�aph 7 shall become additional debt of Borrower secured by this Security � � . .. � .
<br /> ' Insuumcnt Unless Borrower and Lender agcee to other terms of payment,thesc amounts shall bear inte.rest fmm the date of � � � �
<br /> � disbursement at the Note rate and shall 6e payabte,with interest,upon notice from Lender to Borrower reques6ng payment � �.
<br /> � � 8.Mortgage Insnraace. If Lender required mortgage insurance ag a condidon of making the toan secured by this Secuniry � " : .
<br /> lnstrument, Bormwer shall pay the premiums rcquircd to maintain the moRgage insurance a� effec� ]f, for any reason, the � .
<br /> ,.� � mortgage insurance coverage reqaimd by Lender lapses or cpses to be in effect,Borrowea shall pay the premiums required to • . :
<br /> � obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the �
<br /> � cost w Borrower of the mortgage insurancc previousiy in effcct, from an altemate mortgage insurec approvcd by Lcnder. If . � •
<br /> ' substantiaUy equivalent mortgage insurance coverage is not avaitable.Borrower shall pay w Lender each month a sum equal tn � �
<br /> one-tweltth of U�e yqrly mortgage inswance premium being paid by Bortower when the ins�rance coveragc lapsed or ceased W �
<br /> :� be in effecG Lender will accept, usc and retain these payments as a loss reserve in licu of mortgage insurance. Loss rescrvc
<br /> i • .
<br /> Form 3028 9/90
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