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<br /> �.���'�9 � � ` �
<br /> • 5. tlazard ar Property Insurance. B��rcower ,hall k�rp the improvements now exi,[ing u��eafter erected on ctre < � -."
<br /> Pmprst} in�urcJ against loss by tire, ha7ards included w•ithin the term "extended coverage" and any other hazards, including , � _
<br />,' tluud.ur flaxiJ[ng. f��r•whirh Lender reyuireti in�urance. This insurance shall be maintained in the amounts and for the period, '
<br /> that l.rndcr rcquire,. The insurance carrier praviding the iatiurance shall be chonen bJ Borrower subjert to L.ender',appro�al � , �
<br />� which +hall nat he unreasonably withheld. If Borrower fails to maintain coverage described above. Lender may. at I.ender's '
<br /> upnnn.��htain ruverage to protect Lender's rights in the Property in accordance with paragraph 7. ; . , �
<br /> Ail in�urance policies and renewals shall be acceptable to Lender and shall include e standazd mortgage clause. Lender . . �
<br /> +hall h:�ve the n�:ht to hold the policies and renewals. If Lender reyuires, Borrovrer shail promptly�ive to L.ender all receipts of � , • �
<br /> paid prcnuam,and renew•al notices. [n the event of loss, Borrower shall give prompt notice to the insurance carrier anJ Lender.
<br /> - [.�mJer may tnnke prouf of loss if nnt made promptiy by Borrower_ -- ' .
<br /> Unl��+ti Lender and Borrower otherwise agree in writing, insurance pruceeds shali be applied to restoration or repair of the � • .. . . '
<br /> P�upcny J�cnaged.if the restoration or repair is economically feasible and Lender's securiry is not lessened.If the restoration or ' ' �� � .;,.� -
<br /> repair i�nnt economic-ally feasible or Lende*'s se�uriry wouid be lessened.the insurance proceeds shall be applied to the sums �- �� � -� ' � ��-_
<br /> ' .L.."„�.a �.
<br /> +ecured by thi��ecurity Instrument, whether or not then due, with any excess paid to Borrower. If Bormwer abandons the --��-�-;ar,��"��:�`"'�.•-
<br /> �..�
<br /> Propeny, ur does not answer within 30 days a notice from Lender that the insurance carrier has offared to settle a claim, then . �z -,__ . -.
<br /> � ; Lcndcr m:iy coltect the insurance proceeds. L.ender may use the proceeds to repair or restore the Property or to pay sums ' "_-'?°'����
<br /> ° , :,i•:�=-,,�F=- -
<br /> � secured by this Sccuriry Instrument.whether or not then due.The 30-day period will begin when the notice is given. �• •�;�,__:.�..T .
<br /> , IJn�ess Lender and Barrower otherwise agree in writing, any application of proceeds to principal shall not extend or . _ -_--
<br /> '� poatpune the due date ot'the monthly payrnents referred to in paragraphs 1 and 2 or change the amount of the payments. If ; : �"�'�-"
<br /> ���._-�.�.� -
<br /> ; under paragr:�ph 21 the Prnperty i,acquired by Lender. Borrower's right to any insurance palicies and proceeds resulting from ..,.,�,�n,�:�°
<br /> ' damage m the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument " -
<br /> ,� immediately pnor ro thc acquisition. :y�� �—�
<br /> �;. 6. Occupancy.i'reservatlon.llfaintenance and Protection af t4e Property; Borrower's Loan Applfcatfon;Leaseholds. "k• � =
<br />••,.`i Borrower shall occupy,esWbGsh,und use the Propecty as Borrower's principal residence within sixty days after the execution of :.-.,�.r � '����`�
<br />:��; this Security Instrument and+hall continue to occupy the Property as Borrower's principal residence for at least one year after D'-'
<br /> :�;,,����"-`,� .
<br /> .�� the date of occupancy, unless Lender atherwise agrees in writing, which con,ent shall not be unreasonably withheld, or unless ,� *��
<br /> extenuating circum.rwnces exis[ which are beyond Borrower's control. Borrower shall not destroy, damage or impair the '�*• .'.,
<br /> Property, allow the Property to dcteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture ���
<br /> _ action or proceeding, whether civil or criminal, is begun that in Lender's good faith}udgment could result in forfeiture of the - �_=�; `.'_
<br /> Praperty or otherwise materially impair the lien created by this Security Instrument or Lender's securiry in[erest.Borrower may , .�•��, . ;��.::,•.
<br /> cure such a default and reia.tate.�s provided in paragraph 18,by causing the action ar proceeding to be dismissed with a ruling _ � ,., �,,
<br /> ' that, in Lender's gnnd faith detertnination, precludes fatfeiture of the Borrower's interest in the Property or other material "' �y' '"''"� '
<br /> impairment of the lien created by this Security Inscrument or Lender's security interest. Borrower shall also be in de€ault if �°` � '`
<br /> Bonower,durin�the loan applicatian pracess,gave materially false or inaccur�_te infcrma[ion or statements[o Lender(or failed y`�
<br /> t o r o v ide Lender with an mat rial inf ormation in connection w' h h o v' .,'" '
<br /> p y e ) t t t e t a n e i d e n c e d b y t h e N o t e,m c l u d�n g,b u t n o t l i m i t e d � �� , ,_,
<br /> to,representations concerning Oorrower's accupancy of the Property as a principal residence. Jf this Securiry Instrument is on a � ���-� �
<br /> a� a. .
<br /> Ieasehold. Bonower shall cumply with aU the provisions of the lease. If Borrower acquires fee title to the Property, the •�f:� � -'
<br /> �� teasehold and the fer title rhall not merge unless Lender agrees to the merger in writing. ��-��
<br /> 7.ProtRCtton oY I.cndcr's Ri�ht�In thc Property.If Borrower fails to perform the covenants and agreemenu contained in �-T�==
<br /> this Security Instrument, or there i,a Iega! proceeding that may significantly affect Lender's rights in the Property (such as a ��"'
<br /> y,�:—f
<br /> proceeding in bankruptcy, prabate, for condemnation or forfeirure or to enforce laws or regulations),then Lender may do and '�°��-•---__- �-
<br /> .,��_...�
<br /> pay for whatevcr is necessary tc>pratect thc value of the Property and I.ender's rights 'sn the Property. Lender's actions may -:.J� •--
<br /> include paying uny wmr +ecured hy a lien which has priority over this Security Instrument, appearing in court, paying �
<br /> reasonabte attomeys'fccq und cntcring on thc Property to make repairs. Although Lender may take action under this paragraph �'-n`��
<br /> 7.Lender does not havc to do u�. �-�== -- -
<br /> Any ssmounts disbuned by l.endrr undc� this paragraph 7 s6a11 become additional debt of Bonower secured by this
<br /> �._=°..,,��.�_r.
<br /> Security instrument. Untc�.r• Bormwer and Lender agree[o other terms of payment, these amounu shall bear interest from the -- �
<br /> date of disbursement at the Natc rate and shall be payable, with interest, upon notice from Lender to Borrower requesting '�;��'�`a'�`�
<br />. payment. ' -;�"���'==
<br /> ..'_'"��,�►: °:x..:t:`�.
<br /> S.Mortgage Insurutrce.If Lendcr reyuired mongage insurance as a condition of making the loan secared by this Security ;.,,,..�.,.,..��.,
<br /> Instrument. Horrower shall pay the prentiums rcquired to maintain ttie mortgage insurance in effect. If, for any reason, the `"^^'
<br /> mortgage insurance coverage reyuir�A by I.ender lapsec or ceases to be in effect.Borrower shall pay the premiums required to w�+-=��•y-=u
<br /> obtain coverage substuntiully eyuivalent to the mongage insurance previously in effect.at a eost substantially equivalent to the ,�`,,�:���,_�`_..'x4,_�.; .;`
<br /> cost to Borrower of the memgage insurmicc previously in effec�, from an altemate mortgage insurer approved by Lender. If �=°-='=����=`=-_
<br /> �-�� --. ..._,.�_...,_
<br /> substantially equivalent mortga�e in�uranrc�ovcragc is nm:�vailable.Borrower shall pay to Lender ezch month a sum equal to �"""""��::`�;`�
<br /> one-twelfth of the ycarly mortgagc imurancc prcmium being paid by Borrower when the insurance coverage lapsed or ceased to � •,w.:�,;.t�•,;;,:�.__-
<br /> . be in effect. Lender will ucccpt,u.c und retuin thc+c paymcnt�;as a loss reserve in lieu of mortgage insurance. Loss reserve �`�,
<br /> ' ,r...��.--•
<br /> '` Form 3028 919D ' �'��'l' ^ �
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