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<br /> ' ' � 5. Ha�ard or Froperty Ias�uance• Borrower sha11 YeeP the imPr°vemeats now existing or hereafter erected on e • .
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<br /> � �� Property insured against loss by fire,6a7ar�ls included witbin the term'extended coverage'and any other harards. including
<br /> . � - tloods or flaoding, for which Leader cequires insurance. This in�l*ance shall be maintained in the amounts and for the periods _ `,
<br /> ` � _ tha[I.euder requires.The insurance carrier providing the insurance shall be chosen by Borrower subject to I.ender's app�val _.
<br /> • ` which shall not be unTeasonably arithheld.If$orrower faiLs to maintain coverage descnbed above. �.ender may, at i.ender's • �
<br /> � ., oprion,obtain coveiage to protect i.ender's rigbts in the Property in ac:cardance with paragraph 7. •:= , '
<br /> , p11 ins�•�n�policies and renewals shall be acr.eptable to I.ender and shaU iaciude a standard mortgage claaue. I.cader �'°�°'�� �•� �.'
<br /> , shall tmve the right to hold the poli�ies and renewals.If Lender requires,Borrower shall promptly give to L.ender all receipts of _ ,� .� '
<br /> re .
<br /> paid p:emiums and renewal notices.In the event of loss,Borrower shal!give prnmpt notice to the insurance cazrier and I.ender. �- . . �,-.
<br /> .< I,ender may malce proof of loss if uot made prompdy by Borrower. ��' `••• �,�;:�''•.,:.
<br /> Unless Lender and Ba:mwer otherwise agne in wciting,insu:ance pmceeds shall be applied to restoration or repair of the . �. : ...;;.s:-=.`�=
<br /> ` . pmPenY damaged,if[he teswraaon or repair is economically feas�'ble and Lender's security is not 1�.If the�estoration or —'-���=�`"`'.
<br /> . • . repair is not economically feasible or L.ender's seca�rity would be lessened>the insurance proceeds sha11 be appHed w the sums ��'��-_.
<br /> � secured by this Security Insuament,whether or not then due,witt► aay excess paid to Borrower. If Borrower abandons the . _
<br /> ` Praperty,or does not answer withia 30 days a notice from Lender that the insar�ce carrier has offered to seNe a claim. Wen ; _
<br /> ' Lender may collecx the insurance pmceeds• Lender maY use the proceeds to repair or restore the Property or to pay sums
<br /> . .. secured by this Seeuriry Instrument,wLether or not then due.The 30-day period will begin when t6e notice is given. � `�",:.:y--
<br /> . .' Udess Lender and gaaower otherwise agcee in writing, aaY aPPUcation of pmceeds to principal shall not extend or —_
<br /> " postpone the due date of the monthiy payments refesed to in patagraphs 1 and 2 or change the amount of the paynients.If �� r ��
<br /> .-_�.:�..,:;�=--
<br /> . . under paragtaph 21 the Property is acquired by Lender, Borrower's right to any insuiance policies and proceeds resalting from ��,�
<br /> � ,`S damage to t�e Property grior to the acquisiuon shaU pass to Lender to the extent of the sums secured by this Security Insuument ';`� E=��`�F`'
<br /> � ��—�
<br /> . " immediatety prior w the acquisition. x�``�
<br /> ' �` ,, •
<br /> _ .-. '- 6.UocuPaacY. ;� ��:.: .:•:
<br /> Preservatton.Mainteaance and ProtedIon of tiie Property;Bnrcower's Loan Applicationt Leaseholds. ';�.••.5-:::�
<br /> � � � ' Borrower sball occupy,establish,azcd use the Property as Borrower's principal residence within sixty days after the execuuon of ' ,. .y;,�_�:
<br /> � this Security Insuument and shall coatinue to accupy the Property as Borrnwer's principal residence for az least one year after . `� :' :.:-��.�
<br /> the date of occapancy,uales4l.ender othenvise agrees in writiag,which consent shall not 6e unreazonably withheld,or nnless L� ;j ���, .
<br /> � extenuating circomstances exist which are beyond Borrower's canaol. Borrower shall not destroy. damage or �pair the ' ,�.;;
<br /> � • �� I�roperty,allow the Property to deteriorate, or comatit waste on the Properry. Borrower shall be in defauit if a�r forfeiwt+e . -_
<br /> • action or proceeding,whether civil or criminal,is hegun that in I.eader's good faith judgment could resWt in farfeiture of the , . !`�:.;�;-:�,
<br /> . Property or atherwise materially impair the lien created by this Security Ins[mment or Lender's security inteiest.Borruwer may _'.,��
<br /> . ' cure such a default and reinstate,as provided in paragraph 18.by cansjng the action or proceeding to be dismissed with a ruling �_;�:�:_
<br /> � � that� in Leader's gaod faith determination, precludes forfeiture of the Borrower's interest in the Property or other material , :=�_`����.
<br /> . � impairment of the lien creaced by tbis Security Instniment or Lender's seatrity interest. Borrawet shall also be in default if � . ;..y�__
<br /> Borrower,during the toan application pmc.ess.gave materiatty false or inaccurate informatioa or statemenis to Lender(or failed � �i�'�"
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<br /> • , to provide Lender with any material inforn�ation)in connecaon with the loan evidenced by the Note,including,but not limtted , . �°���°
<br /> � to,representations wnceming Borrower's occupancy of the Properry as a principal residence.if this Security Insnument is on a � •<, .� ,�,".�,�.,
<br /> � leasehold, Borrower shaU comply with all the provisions of the lease. If Borrower acquires fee title to tbe Properry, the ,�"="''-
<br /> � leasehotd aad che fee uQe shall not merge unless Lender agrees to the merger in wrtting. • .` , ':Y •
<br /> ' ' 7.Protectlon of Lender's Rights in the Property.If Borrower fails co perform the coveaants and agreements contained in ' ;�;��-
<br /> �� this Securiry Inswmrnt,or there is a tegal praceeding that may significantty aifect Lender's righu ia the Property(sucb as a _,
<br /> • � proceeding in banlcruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations).then Lender may do and . _..
<br /> _. . ._ �- pay for whatever is necessary to protect the value of ttce Property and Ixnder's rights in the Property. Leader's acdons may , ��••};.
<br /> • � include paying any suras secured by a lien whicb has priority over this Seeurity Insttument, appearing in court, paying � -
<br /> � . zeasonable attorneys'fees and entering on the Property to make repairs.Although I.ender may take action under this paragraph .
<br /> . � � • � 7.Lender does not have to do so. � ' . . � �
<br /> � ; My amounu disbu�sed by Lender under this pazagraph 7 shall become additional debt of Borrower secured by this :
<br /> . Security Insuument. Unless Bonower and I.ender agree to other terms of payment, th�e�mounu shaU beac interest from the ' . • . ,
<br /> • date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Bonower requesting � . � . ,
<br /> � � . payment. ; ,. . �
<br /> S.Mortgage Insurance.If Lender required mortgage insurance as a wndition of making the loan secured b�this Security .
<br /> Instrument. Borrower shall pay the preraiums reqnited to maintain the mortgage insurance in effect. lf, for any reason. the :
<br /> � � � mongage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to .'. •
<br /> � . � obtain wverage substantially equivatent to the mortgage insurance previously in effect.at a cost substantially equivalent to the � . '
<br /> • � ! cost to Borrower of the mortgage insurance previously in effect, from an alternate mongage insurer approved by Lender. lf
<br /> . ' substantially 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 Bonower when the inswance coverage lapsed or ceased to � � �
<br /> • ' ; be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve .
<br /> � i Form 3028� .� . �
<br /> _ � �-6VlNEl rezu�o� vayo 3 or s �„�nair �
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