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<br /> •..:t - • 5.Haaard ar Property Ins�anoe. Bormnrer shall ke�the imPr�veme�nts�dw eaisting or hareafier erected on the Property , .,. ' :_; ��
<br /> �' � ��i�t loss gy fue,hamrds inctuded wiWin the te�►"extended coverage°and any other h�d.s,inctuding Qoads or _ _- •
<br /> ' ' � tinoding,for which L�der zecluim.s IDsuranoe.'Ibis ins�uance shall he maiata�ed in thc amoimts and far the periods that Leader .
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<br /> ` . . .F. `. reqni�es,7he insinance c�rier Dmvi�nS the insurance s6aU be chasen by Baaower su6ject tn Lrender's appioval which shari not ,
<br /> . . , .-� be p a i e a s o n a b�y aithheld. if Barrower fa�s w maintain cov�age descn'bed above,Lender may. at I.eader's option,obtain �`s.-..° _
<br /> � . , covetage tfl protect L�dca's zig6tv in the Property in�rd�cc with pataS�aPh 7. ,• ,.-.- , .
<br /> �`� � � --�"`, All ins�uan�e policics and re�ewals sha116e accePlabte ro Lemder and st�all include a standard mnrtgage clanse.Leader sbaIl '�, .-
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<br /> " -,`.`. Gave ihe sigdt w hotd the palicie.c and reuewals.If Lend4r requires.Borrowa shall gmmptty give w I.eader all receipts of paid
<br /> . — � pcemimas aad renewal notioes.Ia the evee�t of toss.Borrow�sdati giva�t notice w the�mmce c�rrie�and Lazder.Lendea . ,--- . -- .--
<br /> .: �t ` may m a k e p m o f o f tas4 if not made D m m p dY bY Boaower. ` � :. ,� .
<br /> ,, < � Unlesg I.endea and Bormwer atheawise agree in wrilmg,ins�aance Pr�s��aFPlied to res�arion or repair of the _�, �
<br /> t:�` , �� `t pcoperiy damaged.if the reswration or reganr is economicaIIy f�Ie and I.e,ndePs sewrit}►is uot lessane�.If the restniauan or , .
<br /> cepair is�t e�onomicaII3�feasible or Leader's securitY wautd be lesseue�.the insia�ce Woce�s sLall be applied to the sams ;<;r..
<br />- �by this Seaaicy Inso�me�t,whethea os Qot the��e.wiih ffi►Y exce�gaid tn Bormwer. if Bosmwer abandons the • �+:';,: ''.
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<br /> . prupe�t�r,or dnes not answea within 30 days a aoticce fmm Lemder that the u�uance carrier has offeied w seule a claim.then , :,�c�-,.
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<br /> - , .. . I.ender may coDect the insivance pmceeds.I,.�der maY use the proceeds to�egair or resto:e the propeitY or m PaY�secuaed �`.,�.
<br /> � % by ihis Secority Insuumeat,whether or not thea due.TAe 30day P�ifld M716egm whe�►the nnrice is giveo. -� ---
<br />_:�',� ' - Unless ixada and Bamnwed otherwise agree in wiiding,any agpiication of pmoeeds to principal sl�all no�t ext����� : ; : -=_
<br /> , . the dne date of the monthiY Palimmts iefeaed w in�hs i and 2 or cLaage the amoimt of the PaY�
<br /> _ � . • 21 the Ptoperty is acqtwred by I�ender.$aaower's rigin m any iasataace poliaes and pioce�s�snlm►S from dantage to the , -
<br /> ', :' pi,a�y p�r t�the acqmsitioa shall pas�m Leader tn the exte�t of the sums sec�ued lsy this Secarity Tnsuument imro�diarely .:
<br /> '�" '`• piior to theacquisuion. , . }_.
<br /> -_ _. . ...-...; 6.Oawpaacy.Freg�vatioa,Maintenaace and Prafee�oa ot the PsaPart3" Bamawer's Loan APPlication:Lease[io2ds. _ -
<br /> - Bormwer sdaU aa:uPY,eslablish,and use the P�opeacy as Boaower's princapal resideace w�hia sixtY days after the exec�araa of _----
<br /> _ . . this Secuiity Insl�umeat and s1�aII continue w ooc�py the Prope�ty as Bmmwer's g�aPal residence far at ieast one year aftea the . �_
<br /> . �•.: datc of aaupancy, untess I.eadea otheawise a�es �n wri�8, which wnsent s6a11 not be iuireasonably w[thdetd,or nnless . '— ,,
<br /> � exteuuating cizaimstances exist wtdch are beymcd Bormw�'s conCrol.Borrow�shalln 6e�ydefaui��any fo�tunee acoi°n or • ' ` _-
<br /> ,,r �• . , . a l t ow t h e p r a p e t t Y t o d e t�r i o r a r�,o r c a m a a i t c w�s t e o n t h e P,ro p e a t y. B o t r o �°. ; .�.�.-
<br />,�,, ' . Pros�dmg,whether civil or criminal.is 1�egun t6a1 u►Lcnder's goad faidt jtWgment ooutd resuIt in fatfeiwre of�he Pmpeaty or . • ••
<br /> . . � �y othawLse mateiiallY impair ttte lien created�y Wis Sc�uriry Iaswmeat or Lmded's se�urity�te�est.Bo:rowea may cure sacb a `:� a t�W
<br /> � . � : defauit and celnsstate.as Pmvided'w pa�agzaph IS,by causing the action or proceediqg to be di�nLgsecl with a r�ilmg ihat.it� • -__
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<br /> .� , . ; LRnder's good faiili deoerminatfon,precludes forfeiaue of the Boirower's intea�st ia the ProperlY or other material impainne�►t af
<br /> � � '` the lien c�t�by this Security Insuument or Leadea's secucity inteaest Boirow�shall also be ir►defaWt if Borrower,during the .. �_
<br /> . . toan applicarion pracess,gave materlally faLse or inaccurate infom�ation or statemeais to I.eader(or failed to provide I.eadea witb � � � � -
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<br /> '". . ' .' .::� eny material infunnation) in connection with �he Ioan evidenced by the Note. inclating,6ut not timited w,re�resea►tations �;�-.
<br /> ' � conc�g Horrowei's oc,cupancy of We Property as a principal residence.lf t6is Ser,�uity Instnuneat is on a Ieaseho2d,Borcowec �. :� _
<br /> . : __.... - s6all comyly witb all the pravisions of d�e tcase.If Botrower acquires fee title tn ihe Ptopetty,the leasehold attd the fee title shaU . ��<.,;:., �._ ,�.-=-
<br /> � � . not merge�mtess Lxnder a�to the meager in writing. ��' ,''-
<br /> 7.Pro2ecilon of Le�der's Rights ia the Property. If Bormwer fails w ptafaim the covenantc and a�reemeats contaitted in "., :�,�r_
<br /> � t6is Sec�uiry Insuumea�t,or theae is a Ieg�l proceediag that may significandy affect Leader's rights in the Prapcaty(sacb as a �� ;�:
<br /> � � ' proceed"mg in bantwptcy,Drobate.for wndemnation or forfeiUue or w enforce laws or regatations),then Lendea may do and pay . " . '±
<br /> • for whatever is necessary m pmtecx the�alue of the P�roperty and I�de,r's rights in the Propcaty.Leuder's acdons may includ� �_
<br /> ' PaY�g �Y sums secured by a lien which has priority over this Security Insuument, aDP�B in court.PaYmB te�onable . . �_;
<br /> h 7,I.endes -""`
<br /> >- . . . suomeys'fees and entering an the Pcoperty w make repairs.AIWau�Lender may takc aaion under this paragrap • . .
<br /> . does not have w do so. '�:.. .. •� .
<br /> _—- . - . pny amounts disbursed by Lender uader�his parsgraph 7 shall become addiiional debi of Bomnwer secured by this Se�urity .,
<br /> . . instruumen�Unless Borrowes and Lender a�eee w other t�ms of payment,these amaunis shaU 6ea�r interest from the date of '
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<br /> � � disbursement at the Note zata and shall be payab2e,with iaterest,upon nodce from Lender w Horrower requesnng paymen�. � . �
<br /> � ' �.Mortgage Insurance. If L�der rcquired mortgage insurance as a condiaon of making ihe 2oaa seGUed by this Sec�uity •
<br /> • ' -� .s InstramenL Horrower shall pay the premiums requircd tn maintain the mortgage ins�rance in effech. If, for any reason,the
<br /> � , � , mortg�ge in.surance coverage required by Lender lapses or ceases W be in effec�t.Borrowa shall pay the premiums req�d to � :
<br /> . obtain covaage substantially equivalent w the mortgage insurance previonsly in effec�at a wst substantially e.luivatent to the .
<br /> � cost to Bonower of Qie mortgage insurance previously in effect,from an altemate mortgage insurer approved by Lcndea. If
<br /> � � substantially rquivalent mortgage insurance wverage is not available.Borrower shall pay to Lender each month a sum equal tD °
<br /> � one�twelhh of the yearly mortgage insurance premiwn being paid by Borrowea whea the insurance covcxege lapsed or ceased to • . ,
<br /> be in effoct. Lender will ascept,use and retain these payments as a loss resen+e in lieu of mortg�ge insurance. Loss reserve �
<br /> � • Fo�m 8028 9/90
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