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<br /> � 5. Hnrard or Properly In�urnnce. Borrower shall kecp the improvpments now existing or her�aftcr erccted on the ' `' ",. E-
<br /> . .�, propecty {nsurec9 ngainst loss by fire, haxarda included�vithin the terni 'eatended coverage" and any other harards, inciudin� � . `,4
<br /> , �j floods or floQding,for which Lender requires insurance.1'his insuranse shnll be maintained in�he amounts and for the psriods , • =,�
<br /> � that L.ender requires. 'Yhe insurance carrier providing the irouranse shnll be chosen by Borrower subject to l.ender's approval �
<br /> : i whic6 shail not he unreasos�ably withheld. lf Borrotiver fails to maintain caverage described above. Lender may, at Lender's . '�=
<br /> • option.obtain coverage to pratect d�endePs rights in the Propesty in accordansx with�aragraph 7. � _
<br /> ,< � . All insuraace policies and reaetvals shall be acceptable to L.eader and shall include a standard mvrtgage ctause. L.ender , "�
<br /> shall have the right to hold the policies and renewals. If Lender requires,Borrower shall promptty give to Lender all receipts of �_
<br /> ' � paid premiums and reaewal noaces.In rhe event of loss,Borrower shall give prompt notice to the insuramx carrier and Lender_ � ,
<br /> ; � Lender may make pmof of loss if not made prompdy by Boirower. . .
<br /> : � Unless Lender and Borroaer otherwise agree in writing,�^�+�*�ce proceeds shall be applied to restoration or repair of the . — , _
<br /> Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoration or -- -�=
<br /> . repair is not economically feasible or Lender's security would be lessened,the�n��*ance proceeds shall oe applied to the sums
<br /> • sec�ued by this 5ecurity Instmment, whether or not then due,with any excess paid to Borrower. If Borrower abandons the � . . �.
<br />� ' Property,or does not answer within 30 days a noace from Lender that the�nc�*ance carrier has offered w settle a claim, then � • . - _
<br /> � ' � L.ender may collea the iusuiance praceeds. Lender may use the proceeds co repair or restore the Properry or co pay swns � - ._,.:_.;u.-_
<br /> f securerl by this Security Instrument,whether or nat then due.The 30-day period vrill begin when the aotice is given. - �-���•-.
<br /> ' ' � Unless Leadet and Boirower otherwise agree in writing, any application of pmce�ds to principal shall not extend or _ � '
<br /> ' �� � postpone the due date of the monthly paymenu refeaed to in paragraphs 1 and Z or c�ange the amount of the payments.Ig : ,.;;::`. .,, -� °�__
<br /> under paragraph 21 the Property is acquired by Lender,Borrower's right to any�*+�*�*+ce policies and proceeds resulting from • . ,:;�R rv
<br /> - damage to the Progerty prior to the ar,quisition shall pass to Lender to che extent of the sums secured by this Security Instrument _•����.�.=
<br /> � � immediately prior to the acquisiuon. �• Y. �
<br /> . _.,,.,�.�,-�:.�
<br /> : � .-::.�>>xas,��=�r_
<br /> 6.pocupancy,Preservatton,Matnteaance ssnd Prot�on af the Property;Borrower's Loan Applicatton;I,easeholds. _.
<br /> • Borrower sball o �°'��:F.—~
<br /> ccupy,estabiish,and use the Property as Barrower's principal resideace within sixcy days after the execurion of � —
<br /> ' this Securi Instrument and shall continue to o the Pro e as Borrower's rinci al residence for at least one ear after `�•1-�-
<br /> ty t men �PY P 1'�3' P P y .. •..P.... .�,'��;_,-�
<br /> the date of ocaipancy,untess Lender othern+ise agrees in writing,which ecnsent shall noi be unreasonably withheld,or unless � ,;;��,�_: __
<br /> ` �. extenuating circumstances eaist wluch are beyoad Borrower's control. Sattower shall not destroy, damage or impair the -- � -e-
<br /> , Property, allow the Property to deterioraie,or commit waste oa the Property. Boaorres shall be in default if any forfeinue ��',� �
<br /> action or proceeding, whether civil or criminal,is hegun that in Lender's good faitL judgment could result in forfeiture of the �'��:
<br /> 5 ' Property or otheraiise materially impair the lien created by[his Security Insaument or Lender's security interest.Borrower may �;��
<br /> � cure suoh a defau:t and ninstaie,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling ��h `
<br /> that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other maurial _ " �
<br /> � impa:�ent of the lien created by this Securiry tnam,menl or Lender's securiry interesc. Borrower shall also be in default if <.-��°:�^�;,: '�. :
<br /> Bortower,during the loan application process,gave materially false or inaccurate informatioa or statements to Lender(or fa�7ed �-•' ' :� `
<br /> .t:� •. .k . �
<br /> �• to pmvide L.ender with aay material informadon)ia connection with the loaa evidenced by the Noze,including,but not limited . t :..
<br /> � . to,repteseatations conceming Borrawer's occupancy of the Properry as a principal residence.If thns Security Instrument is oa a ' i
<br /> leasehold, Borrower sball comply with all the provisions of the lease. If Borrower acquires fee title to the Property,the �-.
<br /> .� , -
<br /> leasehold and the fee tifle shall not merge unless Lender agmzs ro the merger in writing. ��� `
<br /> . 7.Protecttoa of I.ender's R�g6fs in the Property.If Botrower faits to perform the covenants and agceemenrs wntained ia �.'�
<br /> - this Securiry Insuutntnt,or thece is a legal pi+oceedin�that may significantly affect i.ender's rigt►ts in We Property(such as a '`'� ��'
<br /> proceediag in bankruptcy, pmbate. for condemnation or forfeiture or to enforce laws or reguladons),then Lender may do aad {-s�-•': ,'v�,
<br /> pay for whazever is aeccssary to pmtea the value of the Property and Lendet's rig6u in the Property. Lender's acdons may . • :e� -;�._�3-
<br /> �� include in an svms secured b a lien which has rcori over this Securiry Instrument. a pearing in court. paying _ ••y"••
<br /> PaY F> Y Y P � LY P . . .�c�'
<br /> • • reasonable attorneys' fees aad entering on the Property to make repairs.Although Lender may take action under thia paragraplz ��—,
<br /> � 7,Lender does not have to do so. -. : • '���'
<br /> M y amounts disbutsed b y Lender under this para g r a ph 7 shall become additlonal debt of Borrower secured by this �"���_��:-.
<br />. g�ty,r�a,.,,.nr.+t, Unless Borrowa and Lender agrce to ot6er cerms of payment, these amounts shall bear interest from the � '�_
<br /> _� �; date of disbursement at the Note rate and shall be payable,with interest, upon notice from Lender to Borrower cequesting �����
<br /> � P�ent. �'' ;�r-"-�;....-
<br /> S.Mortg�ge Iasuraace.If I.eader required mort�age insurance as a condition of maldng the loan secured by this Secutity �.�.�_ �''
<br />' Insuument. Borroaer shall pay the premiums required to maiatain the mortgage insuraace in effect. If, for any reason,the —'
<br /> mortgage insurance coverage reqoired by Lender lapses or ceases to ise in effect.Boaower shall pay the premiums required to �•�*�j��A
<br />. . obtain wverage substantially equivalene to the mortgage insucance previously ia effect,at a cost substandally equivalent to the �"���`ti� �
<br /> wst to Borrower of the�aortgage insurance previously in effect, from aa alternate mortgage ins�uer approved by Leaaler. If •��,���,:�,�;�:,:�
<br /> substanrially equivalent mongage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to �.:?;��.:::�,h;�;�,.:
<br />� . one-twelfth of the yeariy mortgage insuranse premium being paid by Bonower when the insurance wverage lapsed or ceased to x � „� °`�
<br /> be in effect.Lender will accept,use and retain these paymenu as a loss res.rve in lieu of mortgage iasurance. Loss reserve ���"��''�`:� � '� =
<br /> ._ �7.
<br /> iarm 3028 9l90 • �
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