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<br /> � � � , g, Hazar� ur pro tacurertae. Barrower shall keep the improvements naw eaisdng or hereafter erected on the ,
<br /> _}�. ' I�S' � _ .
<br /> F: ` ��; p�rogerty insured against toss by fire.hazards incladed withiA the term 'e�teaded coverage" and any other hazards. including , , ,
<br />- . � tloads or tlaoding.for which Lendez requires insnrance.This insurance sl�all be maintained in the amounts aad for the periads� �F r`" , .
<br /> _ _ '�-----� that Lender reqtiires.The iasurance carrier providing the insurance s h a l l be c hosen by Borrower subject to Lender's a p prova! . , _ ,
<br /> _1"'"�� which shall not be unreacanably witktteid. lf Eorrower fails to mainuun covetage described a6ove, l.ender may, at l.ender's� :
<br /> • � option.obtain ooverdge to protect Lender's rights in the Property in accordance with paragraph 7. � _ „ ` -
<br /> 4 ^ ' 4 pU insur.tance policies and mnewals shall be asceptaBte to l.ender and shall inctude a standand mortgage ctause. Ixuder� � `'. . _ _
<br /> �., a . • ll
<br /> s_:*..'. • ` `�' shall have the right ta hold the policles and reuewals. If Lender tequ'ves,Boaower shal!promptly give to Leader ali receipts o � -__
<br /> ��.. . __ _• paid pre�niums and renewal notices.In the event of bss,Borrower s h a t!give prnmpt notice to t h e insurance carrier an d L e n d e r.� . �`.,., •`
<br /> ` Lender may make proof of toss if not made promptly by Borrower. �. �`' '� `� �
<br /> :��'�.'� '4'
<br /> . , IJnless Lender and Borrower otherwise agree ia writing,insurance praoeeds shatl6e applied to c�estoration or repair of t h e - -
<br /> ,E� . -'.. .� � r�' property damaged.if the resmratiaa or repais is economically feasiblc and Lender's secariry is not lessened.If the rexuoration ar `�.' L,� ;, �:�,�;.
<br /> ' , repait is uot ecanomically feasible or Lender's security wauld be lessened,the insurance pnoceeds shaU 6e applied to the sams � �r" .�... •.
<br /> � . �. secored by this Security Iasuument,whether or not then due,with any excess paid to Borrower. If Borrawer abandons the :•::,'�, __•--
<br /> � �.. Property, or docs not ancwer within 30 days a notice from Lender that the insc�aace carrier has offered to seale a claim,then ,;�_��;'=`
<br /> .. Lender may coltect the�n��*anc�praveeds. Lender may use the proceeds to repair or rescore the Property or to pay stwns ; .
<br /> 'z�� , ;. .. �; sect�red by this Security Instrument.whether or not then due.The 30-day period will begin when the notice is given. •'r' °`°
<br /> Untess Lender and Borrower otherwise agree in writing,an}+ application of praceeds to principal shatl nat extend or ; 'f_. �
<br /> � . • � postpone the due date of the monttily payments referred to in paragtaphs 1 and 2 or change the amount of the payments. If .;, . ' , ,+._
<br /> _ . . : . _ under paragraph 2I the Property is acquired by Lender,Borrower's right to any insurauce policies and praceeds restiifing from � �•��:-.�' ` �_
<br /> � . damage to the Propecry prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Sewrity instnunent ��. �;�,
<br /> ' _',"r.� immediately prior to the acqaisition.
<br />,, . � . . • 6.Occapancy,Preservation,Mafuteoance and ProteMton of the Property;Borrower's Laan Appltcatian;I.ease�otds. .. ��t-%,
<br />-�_,"•; .� =: �- .,:'�j Bormwer shall occupy.establish.and use the Property as Borrower's principal residence within sixty days after the execution of __�^
<br /> s this Security Insqvment and shall wntinae to accupy the Property as Borrower's principal resideace far at least one year after . � h.�
<br /> • � • • We date of occupancy, untess Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless ��--
<br /> �� ' . �� extenuating circ�mutances exist which are beyond Botrower's contro4. Borrower shall not destroy. damage or impair the - _ --�
<br /> � ' ci
<br /> `�� Property, aliow the Property to deteriorate, or commit waste on the Property. Borcower shall be in default if any forfeiture J��`"_
<br /> : : erty
<br /> r-.'_.:���- . .
<br />:'�•.•�� .. adion or proceeding, whether civil or criminal,is begun that in Lender s good faith judgment coutd result in forfeitwe of the
<br /> � Properry or otherwise materially impair the lien created by this Security Instrument or Lender's security interest.Bonower may • . �—
<br /> . cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to 6e dismissed with a ruling � ".&_�
<br />� � . _ � . � that. in Lender's good faith determination, precfudes forfeiture of the Borrower s interest in the Property or other material � �=
<br /> � , • •� impainnent of the lien created by this Security Instrument or[.ettder's security interest. Borrower sfiall also be in default if . _-
<br />" r� . ' Borrower,duriag the loan application process,gave materially false or inaccurate information or statemenu to Lender(or failed � --_
<br /> . �- ' � . ' �. to provide Lender with any material infarmation)in connection with the loan evidenced by the Note, including,but not timited =Y'
<br /> . ,�..
<br /> .- to,representations conceming Borrower s occupancy of the Property as a principal residence. If this Security Instrument is on a • , ':
<br /> ' ' leasehold. Borrower shalt comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the ,. �, •�
<br /> . " ' ' t leasehold and the fee title shall not merge unless Lender agees to the merger in writing. • � -
<br /> ' � . � 7.I'rotection of Lender's Rights in the Pcoperty.If Borrower fails to perform the covenants.and agreements contained in • . � --
<br /> • - this Security Insirument,or there is a legal proeeeding that may significantly a[fect Lender's rights in the Properry (sach as a � '. _
<br /> • ; � . ' � ..� proceeding in bankruptcy.probate.for wndemnatian or forfeiture or to enforce laws or regulafions),then Lender may do and � • ���'-
<br /> � pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. l.ender's actions may • ..
<br /> . � � ��°� include payiag any sums secured by a lien which has priority over this Security Instrument. appearing in court, paying : • : .
<br /> reasonable attomeys' fees and entering on the Propeny to make repairs.Although Lender may take action under this paragraph
<br /> ' . 7,Lendcr docs not have to do so. • � . •
<br /> . , � ' • . Any amounu disbursed by Lendcr under this paragraph 7 shall become additional debt of Borrower secured by this : ,.
<br /> • ' - Security Instrument. Unless Borrower and Lender asrec to other terms of payment, these amounts shall bear interest from the , •.
<br /> . •. '. ' � date of disbur�ement at the Nate rate and tihall he payabte, with intarest, upon notice from Lender to Borrower requesting : :
<br /> _ .� payment. ' .: .
<br /> _: ` ' S.Mortgage lnsurance.lf Ltnder required mortgage insurt►nce as a wnditian of making the loan secured by this Security •
<br /> � � Instrumcnt. Borrower shail pay th:premiums required to maintain thc mort�age insurance in effect. If, for any reason, the ' • �
<br /> •• • . . mortgage insurance coverage reyuirod by Lender lapses or eeases to be in effect.Borrawer shall pay the premiums required to ' - ' .
<br /> ' � obtain coverage substantialty equivalent to the mart�age irisurance previously in effect.at a cost substantially equio�alent to the ' .
<br /> � . wst ta Barrower of the mongage insurancc previously in effect, from an aitemate mortgage insurer approved by Lendcr. It .
<br /> "� ' substantially cquivalent mongagc insurance coverage is not available. Bormwrr shaU pay to l.endcr each month�sum equal to . � .'
<br /> � . • one-twelfih of the pearly mortgage insurance premium In:ing paiJ by Borrower when the insurance coverage lapscd or ceased to �
<br /> be in effect. Lender will accept. use and retain these p�yments as a loss reserve in lieu of mongage insurance. l.oss reserve
<br /> - . � Form 3028 8I90 • . - � � �.
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