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<br /> � 9�� �1f1640 . �� � - . r-
<br /> i S.Ha�ard or�roperty iasvraace. Borro�ve.r sLall keep the improvernents now cxisting ar hereaha ereru:d on the PrQ�t}r .,'° -
<br /> � insiue�against loss by fire,hazards included within the tem� "eatended coverage" and any other hazards,including floods os � . � '
<br /> flooding.for whss�b Lender cequires�++c�*�nce.'Ibis insvrancx shall be maintained in the amovnu and for the periods that[.ender � . 1�
<br /> requires.The insutance carrier pmviding the insurance shall be chosQn by Borrower subject to Lender's apptoval which shall not ,.�
<br /> be unreasonably withhe2d. If Borrower fails to mainta'sn coverage described above, Lender may, at Leader's option, obrain , . • ,��`
<br />.. � coveaage W protect Leud€r's rights in ti�e Property in ar.cordance witb paragr�h 7. .
<br /> All insurance policies an�renewals shali be 2scept�ble to Lender and shall include a s►audard mortgage clause.Lender shall ; - `s�
<br /> � have the right tn hold the policies and rercewals.lf Lender r$quires,Borrower shall prompily give to Lender all receipts of paid ; ,�,r� �
<br /> premiuuu and renewal norices.in the event of loss,Borrower shall give prompt notice tn the insuiance cx�rier and L.cnder.Lender �
<br /> may make proof of loss if not made pmmpdy by Borrower. � ,
<br /> Unless Leaider and Botrower oiheawise agrce in writing, insurance proceeds sha11 be apptiecl tn r�tnradon ar repair of the � ,
<br /> Property damag�,if the reswration or reFair is economicaUy fc�sible and Lender's security is not lessened.If the restoration ar t
<br /> repanr is not economicalty feas�le or I.ender's set�uety would be lessemed,the insmance proceEds shall be apQlied to the sums ��..
<br /> � secured by dus Security Inswment, whether or not thea due. wiW any e�ccess paid to Bonower. If Boirower abandons the � • � . � E
<br /> PropeRy,or does not answer within 30 days a notioe fmm Lender that the insurance carrier has offered to seule a ctaim,then { •. � , , o
<br /> • L�ender may collecx the insurance proce�.s.LeAder may use ihe proceeds w repair or restore t�e Property or to pay s�uns secured � . �-.�..-"':`�'��.
<br /> • by this Sec�uity Ins�rnent,whether or not then due.'Ihe 3Qday peaiod will begin whea the norice is given. � , ' �
<br /> Unless Lender and Borrower otheiwise agrer in writing.any application of proceeds to prinapal shall not exta►d or posq�one . �. . �, ��'�
<br /> the due daie of the monthly payments refeared to in paragraphs 1 and 2 or change the amount of the payments.ff under paragraph ' {�
<br /> ' 21 the Pr�perty is acquired by Lender,Borrower's right tn any insurance policies and pmceeds resulting from damage to the . • `�,�.
<br /> `f'7
<br />. Aropeaty prior to the acguisition shall pacs w Lender w the ea�tent of the sums secured by this Secauiry Insuumeart immediately •'.-
<br /> �. prior tn the acquisition. s . ' �• .:y
<br /> ; 6.Occapaucy,�vatFon,Maintenance and I°rotettion of the Property; Borrower's Loao Application;Leasehold�. � '��-��
<br /> •�#a;�; ,
<br /> �� Borrower shall occupy,establish,and use the Property as Borrower's principal residence vrithir►sucty days afrFr ihe execution of � . _ . r�=
<br /> •�' this Setaurity Insuumeat and shall wntmae to occupy tdie Property as Barrower's principal residence for at least one year after the . :.. .,�� —
<br /> . . date of oaupancy, unless l.ender othenvise agre�s in writing, which conseat shall not be wueasonably withheld,or unless � `� .•.`:'��� ' :. —
<br /> Y �S Fair ProFeriY. -�� =. -� �
<br /> e�ctenvabng ci�s�ca exisc wirich are beyond Borrower's control.Borrower shall not des�o , e cr im the � .. ;.
<br /> allow the Property e�deteriorate, or commit waste on the Property. Borrower shall be in default if�R �F�rfeiwre action or �. '' t ; :.
<br /> , `,�:i.: �- : •
<br /> pmceedin8,whether civil or criminal,is begun that in Lender's good faith judgment wWd resvlt�forfer-:,.:�of the Anpeaty or �.. ' .-':,,,. �
<br /> otherwise maserially impair the liea cseated by this Security Insmunent or Lender's suvrity interest Bo:sower may aue such a � � ��` _
<br /> thi
<br /> default and reinstate,as provided "m paragraph 18.by causing the action er proceeding w be di�smissed with a niling that,u► � ..�-'�,�q
<br /> Lendea's gaod faith deteraiu�ation.precludes forfeiwre of the Borcower's intesest in the Property or other material impairment of ' , ''�'•�,,�'.,`'' .' f;-
<br /> the lie�creared by tbis S3auity Iastrument or I.eadea's security intea�est Bo�R�er shall also be�default if Borrower,daring the . . •.. .�.;' -
<br /> e
<br /> loan application process,gave materially faLse or inaccucate infom�arion or statc�nenis to Lender(or failed to provide Lender with ;- ;r:, .,:.i��: -
<br /> any material informauon) in connearon with the loau evidenced by the Note. includmg, but not limited to,represeatarions _. � r�• —
<br /> conceming Borrower's occupancy of the Property as a principal msidence.If this Security Instrument is on a leasehold,B�rrowe.r ,�,: .,.0 -fi�:
<br /> shatl comply with all the provisions of the lease.If Bozrower acq�ires fee 6ue W the Prope,rhty,t�e leasehold and the fee a-1e shall � ��' "- .
<br /> not merge unless l.e��agrees to the merger in wriring. � . . -.`��'�'
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<br /> 7:Pratedton o?Lender's Rights in the Property. If Borrower fails w perform the covenants and ag�cements contained in . : ��-
<br /> this Seauity Insrrumeat,or theae is a tegal proceeding that may significantly affect L.ender's rights in the Propeity(such as a "
<br /> proceeding in banktuptcy,probate,for condemnation or forfeiwre or to enfarce laws or regulations).then Lender may do and pay . . �,;;-..�~��-'
<br /> for whatcver is necessary to protect the value of the Praperty and Lendea's rights in the Property.Lender's actions may include .. ::r;!: '
<br /> . PaS+�B any svms sec�red by a lien wirich has �ority over this Security Insuumenb aPP�B in cowt. Pal+ing reasonabte •• .
<br /> atmmeys' fees and entering on the Property tn r.:aYe mpairs. Although Lender may taice action under this parag�aph 7,Lender .�� •�' �. � _ - -
<br /> � dces not have to do so. 't,.,�.x,�..v'��:;..-.�r�
<br /> A�y amounts disbursed by l.ender under this paragtaph 7 shall become additional drbt of Borrower secaued by this Security
<br />�. ' Insmi.:.ent Unless Borrowea and Lender agree to othea t�rms of payment, these amounts shall befu interest from the date of '• ���"--
<br /> � � disbursement at the Note rate and shall be payable.with interest,upon nodce from Lender to Borrower requesting payment � --
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<br /> S.Mortgage Ynsnrance. If Lender require��ortgage insurance as a candition of malcing the loan secured by this Security ,� •' �. ' _
<br /> Instr��t, Borrov�er shaU pay the premiums r�:,uired to r�:.r.tain 1he m3rtgage insurance in effect Iff, for any reason. the � .�� '
<br /> mor�ansurance coverage reqarired by I.ender lapses or c�.s�s to be in effect,Borrower shall pay the premiums r�;:ured to : � �
<br /> obta�coverage substantially equivalent to the mortgage insuraace previously in effect,at a cost substantiaUy eyuivalent to the • �
<br /> cost tn Bormwer Qf�� mortgage insurance��viously in effect, from an alternate mortgage insurer approved by Lendea. If � � '�°_
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<br /> I substantially equiva?�3 mortgage insvrance c��c.�zge is not available,Borroa•ea shall pay to Lender ezs�month a sum equal tn . � ---
<br /> on�twelfth of the yeazly mortgage'crsurance gza:nium being paid by Borrower when the insurance coveaage tapsed or ceased to
<br /> � be ue effect I.ender will accep� cse and reia:.,�x e'►ese payments as a loss reserve in lieu of mortgage insvrance. Loss reserve ' .
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<br /> Form 3028 9/90 � .
<br /> � �-eR(r1E7t92t?r�' Vage3mB Initlaro: � . .
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