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<br /> � 97- �.�����,� � � � �� ` � �`. �
<br /> � 5. Hazard or Propert�� In�urancr. H�,rc�,.�er ,h311 I.rep th� nnpru�rmrnt. n�,w rri,tm� �,r h�rra �r < < . • . -
<br /> Prupert} in+ured:�:nn,t lu,+ h} hrc. h:liard� in�lud�tii ��ithin the t�rni "crtend�d ca�cragr" anJ.�m �,thrr h.varl,. inrludmz � _
<br /> ' fl��od<<�r flouding. for��hirh Len.i�r reymr��m,uranc�. Thi.�n.uranc�,hall h�mamwincd in Ihr:�m�,unt,and I��r thr prru�d, ,;' �• , �
<br /> that L.ender reywrc�. The in.:iranc�cam�r pr���i.iing thr imuran�r•hall I+r ch�,•rn h} B��rruarr�uh��rt tn l.rn.i�r'.appru�.�l .
<br /> �chirh �h:ill not he unrea.onabh uithh�IJ. If&xro«<r t'ail.t�� inaintam«��eragr Je,cnbcti abu�c. Lrndr� ma�. at 1-rnJer'. _
<br /> uptiun.��bt:un coverage to prute�t Lender'� nghts in thr Pruperty in ac�urJanre K�th puraLraph 7. ; ' • ' . �
<br /> t
<br /> _ All insurance p��tici�w and reneaal�+hall he ec�eptable to L.ender and ,hall inrlude a �tandard munrag� ctau.r. Lr�ider
<br />� _ .hali have the right tu hold the palicies 3nd renewals. If Lxnder require+.&�rruwer+hall prumpQ� gi�r t�, i.enSrr aU r�rript,uf _ - ^ ----- --
<br /> paid premiums and renewal notice�.[n the event uf los�,Borrower shall give prompt nutice to the insuranre carrier:u�d Lrnder• __ _
<br /> , Lender may make proof of lass if not rrwde promptly by Borrower. '
<br /> CrSess Lender and Borrowe�otherwise agree in writing,insurance proceeJs aha11 be spP�ied to re.'ti�ration ur repair i�f the
<br /> ` propertyr damaged,if the restoration or repair is economically feasible and Lender'1 securit�•is not lessened. If the restoration or . . _-
<br /> repair is not economically feasible or Lender's security would be lessened. the insurance proceeds�hall be applied to the sums _ _-.. Y °_
<br /> • � secured by this Security Instrument, whether or not then due, with any excess paid to Bormwer. If Borrower abandons the :'�,--.__.
<br /> 5�.Y
<br /> Property,or dues not answer within 30 days a notice from Lender that the insurance carrier has offered w settle a daim.then �.-:+,�_
<br /> L.ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or co pay sums : :�,.,�_ :
<br /> ..�}.
<br /> ', secured by this Security Instrumer.t.whether or not then due.The 30-day period wiU begin when the notice is given. , � ��'-
<br /> Unless Lender and Bonower otherwise agree in writing, any application of prar.eeds to principal shall not extend or "°
<br /> postpone the due date of the monthly payment5 referred to in paragraphs 1 and 2 or change the amount of the payments. If ; •.• ��x�•'�•'`
<br /> !�Q
<br /> .:. under pardgraph 21 the Property is acquired by Lender. Borrower's right to any insurance policies and procceds resulting from =
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums seeured by this Security Instrument __ _ __.
<br /> .
<br /> immediately prior to the acquisition. . -- -=y'__
<br />' 6,pccupancy,Preservatlon,Maintenance and Protection of the Property; Borrower's Loan ApplIratIon;I.easeholds. . _ �_
<br /> Borrower shall occupy.establish,and use the Property as Borrower's principal residence within sixty days after the execution of �•�-= �r��
<br /> this Security Inswment and shall continue to occupy the Propeny as Borrower's principal residenee for at least one year after • ��' _ `�: __
<br /> the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld, or unless „:.::,_,� _ ,: �.��;
<br /> • �� extenuating circumstances exist which are beyond Bortower's control. Borrower shall not destroy, damage or impair the .;'•;;, ;:,,:
<br /> � Property, allow the Pmperty to deteriorate, or commit waste oa 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 judgment could result in fotfeinue of the
<br />� Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may ": �y' �' = _
<br /> cure such a default and teinstate,as provided in paragraph 18.by causing the action o�proceeding to be dismissed with a ruling � ,r ��:, .;s
<br /> that, in Lender's good faith detertnination, precludes forfeiture of the Borrower's interest in the Property or other material -.; -:'��
<br /> ' impairment of the lien created by this Security instrument or Lender's security interest. Borrower shall also be in default if ; _ � k;; �` -
<br /> , Borrower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed
<br /> � . to provide Lender with any material information)in connection with the loan evidenced by the Note,including,but not limited '' '-;�� '
<br /> f
<br /> _ ,�_ to,representations eonceming Borrower's occupancy of the Property as a principal residence.If this Security Insuument is on a ;;;F ; -
<br /> �
<br /> 'i leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the �.
<br /> � leasehold and the fee tiQe shall not merge unless Lender agrees to the merger in writing. `''�'
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<br /> � 7.Protection of I.enader's Rtghts in tdP ProperSy.If Borrower fails ta perform the covenants and agreements contained in .,.-„r, _
<br /> � . this Securiry Inswment.or there is a lesal praceeding that may significantly affect I.ender's rights in the Property (such as a _'����_
<br /> ' proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations),then I.ender may do and ____
<br /> pay for whatevet is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions ma} "°'-�'�
<br /> • � indude paying 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 Property to make repairs.Although Lender may take action under this paragraph �•��".=::�-_•j
<br /> � 7,l.ender does not have to do so. ��f
<br /> An y amounu disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this � .. -.
<br /> • • Secunty Instrument. Unless Borrower and Lender agree to ot her terms o f paymen t. t hes e a m o u n t s s h a l l b e a r i n t e r e s t f r o m t h e _ ___ �_
<br />� date of disbursement at the Note rate and thall be payable. with interest, upon notice from Lender to Borrower requesting ;_.:;�».�' _�_
<br /> � payment. _s�:�:--
<br />, 8.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security �.� _,��
<br /> � [nstrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the �--��_�-=:=�.�,r
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effece.Borrower shall pay the premiums required to .,�,�.Y u ;�,;�.i_-,�� �
<br /> - ��.-.
<br /> obtain wverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the '...,:�y,�.�=�}��..
<br />� ; cost to Borrower of the mortgage insurance previnusly in effect, from an alternate mongage insurer approved by Lender. If .:��a�� ,. I.
<br /> substantially equivalent mortgage insurance coverase is nat available.Borrower shall pay to Lender each month a sum equal to _.;.���.__,__
<br /> ' . one-twelfth of the yearly mortgage insumnce premium being paid by Borcower when the insurance coverage lapsed or ceased to ,.7��-.,,.;�. -',
<br /> r�_:r-
<br /> ' be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve __ ,,._
<br /> � + Form 3028 9/80 ' . �' �rs�
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