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<br /> . . Borcower sbaU the impmvements ao�exis��ahere�e�ecected on tl�e � ` `�, t ..
<br /> .'_ " ' � � 3. glazard or Ftoper4y Insuraace. �P � , .
<br /> , . Property insured ag in�loss by fue, hazards included within the term °euended coverage° and a�y other hazards, incindinS .
<br /> _ . Soods ot flooding, for arhish I.en<er reQui�s insurauce.This insurance shall 6e maintained ia t1►e amnunts and for the periads .� '.',
<br /> • • • that Len�er requires.The insurance carrier pmviding the iasurance shaU be chosen by Borrower su'bject to L�der's appmval �:_` .. �.��_._.�� :.
<br /> -^- wluch shaU not be unreasonably a►ithheld. If Borrower fails to maintain coverage descn'bed above, Leader may, az Lender's , �, .� L'.`.;w'
<br /> - - .- _ uPtion,obtaia caverage to protect Lender's rights in the Properry in accordance with paragiagh 7. - -
<br /> ' All insvrance policies and reuewals s6aI1 be aa�ptable to Ixnder and shall inctude a standar�d mortgage clause. Lender _ ...
<br /> � ' shall have the right to hold the policies and renewals.If Lender requires,Bomnwer shall PmmPflY give to lender all receipts of =,,.�� •���
<br /> , , . . P�P���d re°ewal notices.Ia the event of loss.Borrower shall give prompt notice w the insL*�++�carrier and Lender. • .
<br /> Lender may maYe pmof of loss if not made pmmpdy by Botrower. - . � -
<br /> Ualess Lender aad Boaower otheiwise agree ia writing.insuraACe Procceds shall be agplied m rescoration or repair of the � '!5�.
<br /> . . pl,npecty damaged,if the reswration oz repair is economically feasible�d Lender's security is not tessened.If the restoration or ;� '_.;
<br /> - • , repair is not ecanomically feas�le or L�nder's secuiity woWd 6e tessened,[he ins�uance pmc�ds sha11 be apPlied t°the s�ms , . ,; "-
<br /> nd
<br /> ' - ' • secuced by this Sea�ritY Instnunent, whether or not thea due, with any excess paid to Bnrrower. If Borrower abandons tite f � , ;�-.°.,.
<br /> property,or does not ansarer witva 30 days a notice from L,ender that the instuance cacrier has offered to settle a claim,then .' -�.;�,r'
<br /> � I�nder may collect the ins�uanc�pmoeeds. Lender may use the pmceedg to repair or rescorc the Property or to pay sams : �. -.;:.';,�:,.-
<br /> sec¢red by this Secvrity lnstrument,whether or not then dne.'The 3Q-day period wil'be;-in when�he nodce is�iven. _ , _—
<br /> • Unlesss Leader and Bormwer otherwise agr+ee in writing. ac►Y aPPlicaaon of pmceeds to principa. sh.!1 not �Kend or • �� +..L �
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<br /> , . = postpane the dae d�e of the montlilY Payments r�fened w in paragiaphs 1 and 2 or change the amouat of the payments. If , :;__-.
<br /> under paragtaph 21 the Propsrcy is acquired by i�nder,Borrower's right w any insurance policies and gmceeds resniting from %%.::��,.__
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<br /> - � • . - .- damage to the ProPertY Prior to the acquisitio�shaU pass to Lender w the extent of the sums secured by t h i s S e c u r i ry I a s t N m e m - -.- - +:<s.3-�.
<br /> : . . immediazely prior to the ar.quisirian. � ' ,--
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<br /> � � (,pccupancy,preservation,Mainteaaace and Protedian of the Fmperty;Borrower's Loan ApplIcatfon;I.easeholds. :��_
<br /> . � Borrower shall occupy,establish,and use the PropeYty as Borrower's principal residence within sixty days aRer the execution of '��.�',".,,,,`�:
<br /> - �. .__ chis Securiry Inmument and shaA continue to occupy the Properry as BorrowePs principal residence for at teast one year after . .. :it�°=�__.
<br /> . (' ; the date of ocxupancy,ualess L�ender otfierwise agcces in writing,which consent sbaU not be unreasonabIy wltYiheld,or unless �`:.:'���
<br /> . :y; e�uenuaupg circ�mstances eust wluch are beyond Borrower's contml. Borrower sball not destroy, damage or impair the :. �,�„
<br /> ' - Properry, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeinue ____ _
<br />: � : aaion or procecding,whether civil or criminal, is begun that in L,ender's gaod faith judgment canid nsult in forfeiuue of the __—
<br /> praperty or otherwise materiallY imPair the lien created by diis Security Instnuaent or Lender's security interest.Borrower may . �
<br /> ' . cau�such a default and reinstate.as provided in paragcaph 18,by causing the actioa or praceeding to be dismissed wiib a niling� r�. � ;�*-�_;=
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<br /> � that, ia Lender's good faith determination, precludes forfeiwre of the Borrower's intc�est in the Properry or other material � .� • �'_:
<br /> - ' impairment of the lien created by this Security Insuument or Lender's secutlry interest.Borrower shall also be in default if . � ' �:'=�'�:
<br /> ,.:�,
<br /> � ' ' Borrower,duriag the loan application pmcess.gave materiaUy false or iaaccurate information or statemeats to Lender(or faited , .yy�,.
<br /> . � � to provide Lender with arry matc�rial informatIon)in connection with che toan evidenced by the Note,inciuding,but not limtted . . -�F�
<br /> � L `��:�r..�__.
<br /> ' to,representations coaccrning Borrower's occupancy of the Proper[y as a principal residence. If this Security Instmment is on a . -
<br /> • leasehold, Borrower sIiall comply with all the provisions of the lease. If Borrower acquires fee dde to the Pcoperty, the • • .. ��_-`��;Y�
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<br /> leasehold aad the fee tide shall not merge unless Lender agrees to the merger in a+rittng• ' , ��;,.
<br /> ' • 7.Piotcctlon of Lerider's Rig6ts in the Pmpwty.If Borrower faits to perform the covenants aad agreements contained in ' ,.:;�_
<br /> , . � tbis geruriry Instrument, or them is a legal proceeding that may significantIy affect Lender's rights in the Property(such as a , �-'���_�
<br /> � ��5: proceeding in bankruptcy,�robate,for coademaatioa or forfeiture or to enforce laws or reg�ladons),then Lender may do and ., ��,���?�
<br /> - pay for whazever is necessary to protect che value of the Property and Lender's rights ia the Property. Leader's actions may
<br /> • • �. � inclade paying any sums secured by a lien which has priority over this Secsuity Instrument, appeazing in court, payinS • ._.
<br /> � ' �• �i reasonable anomeys'fees and entering on the Property to mafce repairs. AI�hougL Leuder may tat:c actioa uader this pasagraph -_ = - - .L
<br /> � . ' ; 7,Lender does not have to do so. �. '� ��
<br /> ' �; Any amounts disbnrsed by l.ender under this paragaph 7 sha11 become additioaal debt of Borrower secured by this -� ,
<br /> � ' Securiry Insuuraent.Unless Borrower and Lender agree to other terms of payment.these amounts sball bear interest from the , .
<br /> . :�' date of disbnrsement at the Note rate and shall be payable, with interest. upon notice from Lendet to Boaower requesting •• •
<br /> PaYment• .. � .
<br /> S.Mortgage lasurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> lnstnunent. Barrower sha11 pay the premiwns required to maintain the mortgage insurance in effect. If. for any reason. the : •
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to • .
<br /> � obtain coverage substantialiy equivalent to the anortgage insurance previously in effect,at a¢ost substanrially equivalent to the •� • .
<br /> ' � - cost tQ Borrower of the mortgage insurance prevlously in effect, from an alternate mortgage insurer approved by Lender. lf . ��• �
<br /> � � substantialiy equivalent mortgage insurance coverage is not available,Boaower shall pay to Lender each month a sum equal to .
<br /> � . � one-twelfth of the yearly mortgage insurance premium being paid by Boaower when the insurance coverage lapsed or ceased to
<br /> � be in effect. i.ender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> • Form 3028 9/90 '
<br /> � ��6VtNE)�92i2►.o+ Pago 3 ot 8 in�ua��:� '
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