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<br /> , 5, liazerd or Property InAUrancc. Aorrower ehall keep the improvemente now exieTi�nr h�e�ait:r�rer��e�C�ed n� ( ±
<br /> the Propc:rty insured against loss by fice,hnzurds mcluded within the term "extended coverage"nnd any other hazarda, ,
<br /> including floode or flooding,For which I.ender rcquires insurance. ThiR insurance shall be maintained in the amounte i
<br /> and 4or the periods thet Lender requires. "l�he insurence carrier providing the insurance shall be chosen by Horrower
<br /> subject to Lender's npproval which ehall not be unreasonably withheld.If Dorrower faile to maintain cavernge de:scribed �
<br /> � . above, I.ender may,at Lender'R option,obtain coverage to protect Lender's righta in the Property in accordance with i
<br /> ' paragraph 7. �
<br /> All ineurance policies and renewule shall be ncceptable to I.ender and shall include a atandard mortgase clause. �
<br /> Lender shall have the right to hold the policie.s and renewale. If I.ender requires, Borro�ver shall promptly give to
<br /> Lender all receipts of paid premiums and renewal notices.In the event of loss,Borrower ehall give prompt notiae to the �
<br /> insurance carrier and Lender.Lender may make proof of loss if not made promptly by Borrawer. �
<br /> Unless Lender and Borrower otherwi�e agree in writing,insurance proceeds ahall be applied to restoration or repair •
<br /> • ot the Property damaged,if the restoration or repair is economically feasible and I.ender'a security ie not lessened.If the �� _ .-�`°�-
<br /> restoration or repair is not economically feasible or I.ender's security would be lessened,the iasurance proceeda ahall be .. :�_�;,—
<br /> applied to the sums secured by this Security Inetrument,�vhether or not then due,with any excess paid to Borrower.If ,.._--
<br /> Borrower abandons the Property,or doe�not answer within 30 day�u natice from Lender that the insurance canier has ,•�'. _
<br /> offered to settle a claim, then Lender may collect the insurance proceeda. I.ender may use the proceeds to repair or ,�,
<br /> restore the Proprrty or to pay sums secured by this Security Inatrument,whether or not th�n due.The 30-day period will -:_
<br /> �� N�a:.:.
<br /> begin when the notice ia given. , "
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or +�'`-
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the paymenta. z
<br /> • If under paragraph 21 the Property is acquired by Lender, Bon�wer's right to any insurance policies end proceede .-
<br /> resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by ��
<br /> this Security Instrument immediately pnor to the acquisition. �•��.
<br /> 6.Occupency,Preservstiou, Matntenance and Protection of the Property; Bo�rower's Loan Application; ,-�,�t _
<br /> �, Leaseholda. Borrower ahall occupy,establish,and use the Property se Borrower's principal residenca within sixty days •
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<br /> � after the execution of this Secunty Instrument nnd ehall conttnue to occupy the Property ea Borrower's principal `•;,•
<br /> - -�- residence tor at Ieast one year aiier ihc JntC oY occupancy,ur.l�;I.ca�r oihPrwl,�P ngree.q i n writing,which consent shall
<br /> � not be unreasonably withheld,or unles�extenuating c�rcumetances exist which are beyond Borrower's control.Borrower
<br /> shall not destroy,damege or impair the Property,allow the Property to deteriorate,or commit waste on the Property. �
<br /> Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, ie begun that in Lender s `;
<br /> � goad faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this ri
<br /> Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in _
<br /> paragraph 18, by causing the action or proceedin� to be dismissed with a ruling that. in Lender's good faith
<br /> determination,precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien
<br /> created by this Security Instrument or J.ender's security interest.Borrower shall also be in default if Borcower,during ;{,�
<br /> � the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to '
<br /> � provide Lender with any material informntion)in connection with the loan evidenced by the Note, including,but not i; _ ' '
<br /> ��' limited to, representatione concerning Borrower's occupancy of the Property as a principal residence. If this Security .,
<br /> �f'`� Inetrument is on a leasehold,Borrower shall comply with all the provisions of the lease.If Borrower acquires fee title to ' •�
<br /> �, the Property,the leascshold nnd the fee title ehall not merge unlesa Lender egrees to the merger in writing. 'r ►�i�,-�
<br /> ' s in the Pro ert . If Borrower fails to perform the covenants and agreementa ��""J ,,A
<br /> , „�;, , 7. Protection of Lender s Right P Y
<br /> ' ' contained in this Security Instrument,or there is a legal proceedin�that may significantly affect Lender's right�i�n the ,r`;�,'�
<br /> ' Yroperty (auch as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or ----
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<br /> ..:.... . ::. ..:.:.. _ regulations),then I,eiider may do and pny for�hatever is necessary to protect the value of tl�e Prop�rty and Lender'e _: .,,
<br /> ��.._. • ,, tiw, r...:... over this � ---
<br /> : 1.�.. :.. .1... T�_..�..._: � ....a�:'� "�:::.i.5 uiaj iia�iuuc Yoyiii�oi�f SUtIIt; SGC:lilc3 �'ij% & iwaa •,.tliCu 'p'........� �—
<br /> Security Inatrument,appearing in court,paying reasonable attorneys'fees and entering on the Property tn make repaire. -
<br /> Although Lender may take action under this paragroph 7,Lender doea not have to do so. of Bonower secured b thie �r`�=,:"�-_T ---� J
<br /> � Any amounts disbursed by L.ender under this paragraph 7 shall become additional debt Y __
<br />` Security Instrument. Unless $orrower and Lendar agree to other terms of payment,these nrnounta ehall bear interest _
<br /> ' from the date of disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Borrower ��i„"�; ;�,+�r�
<br /> i�.
<br />- ` , r uestin a ment. *��' Y�:• t``�',.'�^•
<br /> �9 B P Y .
<br /> 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this -r_,r,.,:;:,., ��
<br /> �-�� Security Instrument.Borrower shall pay the premiums required to maintain the mortgnge insurance in effect.If,for any , ;.'�:-=t���.'� '�;t�••
<br /> .I reason, the mortgage ineurance cov�rage required by Lender lapses or ceases to be in effect,Borrower shsll pay the '
<br /> premiums required to obtain coverage substantially e�uivalent to the mortgage insurance previously in effect,at a cost
<br /> ,� substantially equivalent to the cost to Borrower of tho mortgage insurance previously �n effect, from an alternate
<br />� i mortgage insurer approved by Lender. If eubstantially equivalent mortgage insurance coverage ie not available,
<br />- Borrower shall pay io Lender each month a sum equsl to one-twelfth of the yearly mortgnge ineurance premium being
<br /> . � paid by Borrowar when the insurance coverage lapsed or ceased tn be in effect.Lender will accept,use and retain these
<br /> payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required,
<br /> Form 301d 9I90
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