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<br /> , . . 5.Ha�ard or Pmperty Insurance. Bosower sha12 keep the anprovements now exisdng or hereafter erected on the Pmperty . ' . ..
<br /> - - iasured against Ioss by fire,harards included within the term "e�ctended coverage"and any other 6ar�cds.including floods or
<br /> flooding,for wt�ich I.eader requires insurance.'I9�is insurance shall be maintained in the amnunts and for the periods d�at Lendea ,� .
<br /> w ic ,
<br /> � . ., . requires.'Ihe insurance cairier pmviding the insutanoe shall be chnsen by Bosawer subject to Lender's approval which shall not . _
<br /> _ - --- - 6e unreasonably withheld. IF Boaower fas�s tfl mamrain coverdge descnlied above, Lender may, at Lender's option,obtain - -- - ---- - _
<br /> coverage to protect Leadea's rigfits ia the Property m accordance with paragraph 7. � ` •
<br /> ' Atl a�uance poliaes and renewals shall be acceptabte tn I.ender and sda!!include a standard mortgage clause.I�ender sha11 . .
<br /> have the right to hold the policies and re,newals.If Iznder req�ures.Borrower shaU promptly gin+e tu I.ender all receipts of paid � . •. - - ,
<br /> - ' . premiums and rex�ewal notices.ln she ev�t of loss,Boaower shall give pmmpt notice to the insu:ance canier and L.ender.I.ender .�.::.�'����'
<br /> = , may make pmof of ioss if not made pmmpdy by Bomnwer. �. „
<br /> - • Untes4 Lea�der and Boimwer atherwise agree in writ�g,;n�+,•�nrr p�sdall be applied w reswration or repa'v of the
<br />" ;. Property darnaged,if Bne�n or repa;r is economica]ty feas�le and Lender's security is not lesseaed.If ihe reswiarion ar . :� ..�,.; l-,
<br /> � repair is not economically feasible or Lender's secanity wonW be tessened,the insurance proceeds sha116e applied to the sums . ..,_.
<br /> z, � secured by this Seciuity Instii�me�t, whether or pot then due,a�h ar►y excess paid to Boimwer. 1f Boimwer abandons the . ''`'x_:`.�
<br /> `� Pmperty,or daes noi answer withm 30 days a aorice fram Lender tt�at the ins�cance prriea has offered to seule a claim,th�
<br /> �� � � Lender may collect the insurance praceecls.Leuder may use the pmceeds tn repaa or reswre the Property or w pay swns secured , :_- „c-
<br /> F.� �; by this Secauity Lusaameut,ahe,ther ar not then chte.The 30-day perind will begin when t6e notice is�ven. • �-._
<br /> � �-< Unless Leader and Bmmwer otherwise agree in wriw►g,any application of proceeds w principal shall not extend or postpone . ,c�_,
<br /> ;i . We due date af the monthiy paymeuts refeared w in paragraphs 1 and 2 or chaage the amount of the paymeuts.If under F�S�Ph _ � �. ::
<br /> � 21 the Propecty is acquired by L.ender,Bomnwer's right to any insarance Isolicies sud praceetls resulting from damage to the
<br /> . Propeaty prior w the acquisidon sha11 pass w Lender tn the e�cteru of the sums secured by thi4 Security Iastiument immediately ` - �
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<br /> ;,� prinr w the acquisition. ' ` �?N:.-.:
<br /> _� . 6.Occapaacy.PreservatFan,Matntenaace and t'rotecHon of the ProPertY; Borrower's Loan Appltcadon.Lease4olds. .�r�'�;';;;:;
<br /> = Bonowec shall occupy,establisb,and use the Property as Boaawe�s prmcipal residence within sixty days after the execution of ;...,_�:-�_=:'
<br /> . . � �;;�;.
<br /> ;,', this Security Instrument aad shall conrinue to occupy the Prope�ty as Borrower s principal residence for at least one year after the �`���
<br /> : l"�.c;.rf.,��_;.
<br /> _ date of uccupancy, unless Lender otherwise agrees in writing, which consent shall not be wueasonably withheld or unless :,�..:';:r:�:
<br /> • e�ctenuatmg circumstances exist atuch are beyond Borrow�'s control.Bormw�shall nat desproy.damage or impair the Properry, � . � !-.r`.���-.;;
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<br /> .",; altow the Property to deteiiiolatE.or commit waste on the Property. Bomnwer shaU be in defaWt if any forfeiwre action or • ��-.."':3"�°
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<br /> � proceeding,whethca civil or criminal,is begun that in Lender's gaod faith judgment could result in forfeiture of the Property or : .., f� "':�;;
<br /> otherwise ma,erially impair the liea created by this Security Ins�ument or Lender's security interest.Borrower may cure such a •:: ss::,..;'
<br /> defautt aad reinstate,as provided in paragraph 18.by caasing ihe action or proceeding w be dismissed wiib a ruling that,in . :���'::``;".
<br /> '•` Lend�r's good faith determinarion,precludes forfeipue of the Borrower's intesest in the Property or othea mat�rial impairment of '� �:`�>f���:;
<br /> the lien creat�d by this Securety Instrument or Lended's security intaest.Boimwer shall aiso be in defautt if Brnrower,duriag the .. . . _, ��• ;-'.-'�
<br /> ' loan application pracess,8ave maierialty false or inaccurate infam�auon or statements w Lendex(or failed w provide Lendea arith . . ��:4-;.�=;�.
<br /> m a' ; s;�'_-:
<br /> • any mateaial infomiation) in connection with the toan evidenced by the Note. inciuding,but not limited to.representarions . �� ` • -
<br /> • � � conceming Borrower's occupancy of the Propecty as a principal residence.If this Security Instrument is on a teasehotd,Borrower � 'r^S':���
<br /> -. Ye.'.`:•
<br /> ',,� � � shall comply with all the plovisions of the lease.If Borrower acquires fee ade to the Property,the leasehold and the fee title shaU � `"��
<br /> `L,�.
<br /> not merge untcss I.ender agrces to the mergea in wriring. . .,..,
<br /> i 7.Protec�Ton ot Lender's Rfgdts in the Property. If Bonower fails to perFonn the covenants and agreements contained in . . ""�"`
<br /> T���', . A U�is Security IastrumenL or there is a legal proceeding that may significanJy affect Lender's rights in tlie Property(such as a ... , .;'�,'�
<br /> , . proceeding in bankruptcy.probate,far wndemnation or forfeiture or to enforce taws or regulations),then I.ender may do and pay . .?'�-'
<br /> for whatever is necessary w prorPCt the value of the Propeary and Lender's rights in the Property.I.ender's actions may include ,
<br /> �.: �= PaS+�B �Y �s secu�d by a lien which has priority over this Security lnstrument,appearing in coart.paYinS reasonabie • � ., ..
<br /> �t• .i attomeys' fces and entering on the Praperty w makc repairs.Although Lender may take acdon ander this paragraph 7,Lender � � . '
<br /> ` �I does not have to do so. � � .�
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<br /> ' My amounts disbursed by Lender under this paragraph 7 shall become additional debi of Borrower secured by ihis Security __ ,
<br /> ' '� InstrumcnL Unless Sorrower and l.endcr agrce to other unns of payment,these amounts shaU bear interest from the date of •. :
<br /> • � disbursemcnt at the Note rate and shall be payable.with intercxt,upon notice fmm Lender to Borrower requesting paymen� . �f�. �.
<br /> ; 8.Mortgage lasurance. If Lender requ'ued mortgage insivance as a condition of making Ihe toan secared by this Secutity
<br /> . � ; Instnunent, Borrower shall pay the pcemiums required to maintain the mortgage insurance in effec4 If, fot any reasan, the �
<br /> � mortgage insurance coverage required by l.ender lapses or ceases to be in effec�Borrower shall yay the premiums required to , :
<br /> . f obtain coverage substantially equivalent w the mortga�e insurance previously u�effect,at a cost substantialiy equivalent to the �
<br /> . . . cast to Borrower of thc mortgage insurance previously in cffcct,from an altcarnate mortgage insurer approved by Lcndcr. If •
<br /> ' substantially equivalent moltgagc insurance coverage is not availablc.Borrower shall pay tn Lcnder each month a sum cqual to
<br /> ��; one-twelfth of ihe yearly morRgage inswance premium being paid by Boaower when the insurance coverage lapsed or ceased to
<br /> • • , be in effec� Lender will accep� use and rGain lhese payments as a toss reserve in lieu of mortgage insurance. Loss reserve ; . _
<br /> � ; Form 3028 9I90
<br /> : �•8R(NE)�9zis�.o� Paga 3 018 �nn�aie: �
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