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<br /> �(� ������ " �. < ' . :
<br /> • 5. Hazard ur Propertr Insurattce. B��t'mucr .hall I.rrp [he impra��rmcnt. rn,�� cri.ting �,r fierrafter crcrt�Yi un th� . �'' ;�„
<br /> PrupeR� snwrcYi a•_a�n.t lu.,b� tim. hararJ. �nrluJeJ ti�thin the tcrtn "e�tcnS�d cc��cra;_e" and am uthrr ha�ard�. mcluJm� --.,�.
<br /> • fluud,ur flouding. t�tt which Lendrr reyuircti imuranrr. Thi. intiuran«�hall he nuxinta�nrJ m th�am��unn and t��r thr prri�xi. : —
<br /> � � that L.cnder reyuire,. Th� imurance rarri�r pru�iding the imuranc� .hall he �hu�rn M H�,rn���rr,uh}rct��� I.rnJ�r'• �ppr����l . u _
<br /> �shirh ,h�ll not be unr��,unabl} withhrld. tf Borruurr fail.tu muintain roverxr*_e de��nhrJ aha�r. L�ndrr ma}. at L.�nder', . -
<br /> _ opnon.obtain co��erage to prourt l.ender'.right.in the Property in acwrdanceµith par.�greph 7• ; . .. w
<br /> - AI! insurance pi�liric� enJ renewalti +hall he a�:ceptable to LenJer and ,hall in�lude a,t3ndard murtgas:e rl:�utir. lxnder
<br /> shall have the right to hold the polic�c�and rene�val�.If i.ender rcyuires. Borru��er�hxll pramptl} giv�to L.cnJer all rrre►pt,ot _ ` _ _ ' �
<br /> �, paid premiums and renewal notices.[n the event of 1oss, Borrower shall give prompt notice t��the insuranre rarrier and Lender. '�'�
<br /> Lender may make proot of loss if not made promptly by Borrawer. , . < . —�
<br /> � �.�. .. �.
<br /> Unless L.ender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the . ` _ ___
<br /> .;::T:,-:-.�.-:-
<br /> Property damagecl.�f the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or . _w-,�' ` _
<br /> repz:r is not economirally feasible or I.ender's security would be lessened.the insurance proceed+shall be applied to the sums . � ,.,
<br /> ?<'� srcvred by this S�urity Inswment, whether or not then die. with any excess paid to Borrower. If Borrower abandons the ; �.�:t�;F�
<br /> u :, ,�. - -
<br /> ProFetty. or dazs^ot answer within 30 days a notice from Lender that t5e insurance carrier has offered to settle a claim.then ._��—�.�Ny-
<br /> � ` 4.,:=��r may collect the insurance proceeds. Lender may use che proceeds to reQair or rescore the Property or te pay su:.s � �
<br /> � } secvred by this Security Instrument,whether or not then due.The 30-day period will begin when the notice is given. �:_
<br /> �s� Untess I.ender and Borrower othenvise agree in wriung, any application of proceeds to principal shal{ not extend or :�•�.Y--�-�.,
<br /> � P hs 1 and 2 or change the amount of the paymenu. If �"'�:
<br /> postpone the due date of the monthly paymenu referred to in aragrap , '`•�=-=��-�
<br /> under paragraph 2 l t he P rope Ry is ac y u i re d b y L ender. Borrower's right to any insurance policies and proceeds resulting from . �..�
<br /> �. damage to the Praperty prior to the acquisition shall pass tu Lender to the extent of the sums secured by this Secuary Instrument ��
<br /> �'.�.g��-t� �� _
<br /> . immediatety prior to the acquisition °—� ���
<br /> � 6.Occuq�uncy,Preserration.M1f�tntenance and Protectlon of the Property: Bom�wer's Loan ApplicutIon:Leuseholds. ___�,��;. : .,i,�.:-_
<br /> �� • Borrower shull occupy,e+tablish,and u+e the Prapeny a+Burn�wer'.pr�ncipal n�idenre wnhin+ixty J:iy+aftcr the cxrcution oi -::::� ;
<br /> this Security Imtrumcnt:snd.h�ll continue tu occupy lhc Pruperty a�B�ttruwer'.principal rr.idence f��r at Iw.t une year aRer =
<br /> . the date of occupancy.unle�+l.cnder�nherwi+e agreer in writing. wtiich coment.hall nut be u'rc,(,mahl�'�+tchi fd;�n!�the . :� � �_,��;�. ��
<br /> � extenuating circum+wnces exist which are t+ey�md ac�rr��w•�r'� .untml. B��rn��ver �hal! n�t �e. y s ---�
<br /> �� prope�y, allow the Pruperty to dctcriorstc, nr cummit wa+tc an thc Property. Bormwer�hall be in deFrult if any Corfciture �;��--•
<br /> in whether civil ur criminal, is begun that m l.cnder',�oud faith juJgment could result in forfeiwre of the *
<br /> ion or racee�i ocrower ma 'r ,� , � `
<br /> aM p S•
<br /> .r Propeny ar athenvise materially impair the lien created by this Security Inst�umcnt or Lc:ndeF ti�aurity interest. B Y �-••
<br /> i . ;'�;• L
<br /> �" cure such a default and reinstate,as provided in paragraph �S.by c:ausing the actian or pruceeding to be dismisse6 with a ruling w�
<br /> � that, in l..ender's good faith determinatian, preclude+ forfeiture of the 8orrowcr's interest in the Property or other material `;'� �`
<br /> 't,• impairment of the lien created by this Security Tnstrument or Lender's security interest. Borrower shall also be in default if '��"�
<br /> • Borrower,during the laan application process.gave materially false or inaccurate information or statements to I.ender(or fail�l
<br /> to provide Lender with any material infomiation)in connection with the loan evidenced by the Note.including,but not limited j�1�."'
<br /> ` to,representations concerning Borcower's occupancy of the Property as a principal residence. If this Security Instrumen[is on a ��,-
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property. the s -
<br /> leasehald and the fee title shall not merge unless Lender agrees to the merger in writing. _: -
<br /> ' 7.Protection of Lender's Rights in tCne Property.If Borrower fails to perform the covenanu and agreements contained in ,�
<br /> >> � this Security Inswment, or there is a legal procceding that may signiflcantly affect L.ender's rights in the Property (such as a _.�.
<br /> proceeding in bankruptcy.probate. for condemnation or farfeiture or to enforce laws or regulations).then Lender may do and _ _ � -
<br /> � r,;;•r for whatever is necessary to protect the value of the Property and Lender's righu in the Property. Lender's accions may �''�--�'° _
<br /> , :rt,.,ude paying any sums secured by a lien which has priority over this Security Instrument, appearing in caurt. payinS _�_�-��
<br /> • reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may take action under[his paragraph �,�„_,Y ,
<br /> ' 7,Lender does not have to do so. •
<br /> Any amounu disbutsed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this �r�"'.-_ �
<br /> t,�..,..,._-.
<br /> � Security Instrument. Unless Borrower and l.ender agrce to other tertns 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 fram Lender to Borrower requesting � _____ __-_-- --
<br /> payment. � '�°��°'
<br /> 8,l�iortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security ,�:,� .
<br /> Instrument, Horrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the F,.,y��;.� .,: , _
<br /> mortgage insurance wverage reqvired by Lender lapses or ceases to be in effect. Qarrower shall pay the premiums required to ��.�:'—
<br /> � obiain coverage substantially equivalent to the mortgage insurance previously in eifect,at a cost substantially e�uivalent to the .�� y� ., •,-
<br /> - cost to Borrower of the mortgage insurance previously in effect, from an atternate mortgage insurer approve�by Lender. If .__.,�
<br /> . • substantially equivalent mortgage insurance coverage is not available. Borrower shall pay to I.ender each month a sum equal to : .-.� � � _
<br /> • one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to i. .. , �
<br /> • be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mongage insurance• Loss reserve :z.}-c}- _ , .,.�.,;
<br /> Form 3028 9/90 ' ' • •
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