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<br /> 5. Hsv.ard or Propert�� Insurance. Burcuwrr .hall I�eep thc �mpru�en�ent� nuu eti,ting ur h�re:�tter �rc�ted un the �+•� �`
<br /> . �__
<br /> Property inxumd ae:iin.t lu,.by fire, ha�ard�includ��i ��ithin thc trrni "cxtcndrd .u�er:�ge" and am ixher h,uard+. includine ,�:i
<br /> flrnwi.ur flocxiing, t��r�vhich Lender reywrc�in.ur.�rn�. Thi+ in�urarn e+hall hr maintain��i in the amuunt� anJ fvr th�periud� �
<br /> that Lender reyuire+. The in+urancr carrirr pru�idmg thr in.urance.hall br�h���en by B��rruwer,uhj�rt t�� l.cnJ�r��appru`:il •
<br /> �chich ,h:ill r.ot be unrw.,uttabi� «ithheld. ti&�rri��cer fail+ ta m;i►main �o��erage dr+crihetl abo<<- l.�nder ma}�. at L.crnder'. , -_-
<br /> . optiun.obtain coverage tu protect Lender',right�in the Property in a�u�rdaace ttiith p:uagraph 7. ; . . . ..
<br /> ,.�. AU insurance policie+ and rene��ah.hall be acceptable ti� lxnder and .hall include a+tancixrJ murtgage rlau+e. Lxnder Y
<br /> shall have the right to hold tfie policie+snd rene�tial+. IF lxnder requireti. Burruuer,h:ill pr��mptl} give tu Lender all rc�eipt+ot . �� _
<br /> paid premiums arid renewal notices. In the event of ioss.Born�wer nhall gi�r prompt nutice tu the insurante�erner and L.ender. _ __ __ __ `
<br /> Ler.der may make proof of loss if not made promptl}by Borcowec - < � • . �
<br /> Unless Lender and 8onower otherwise agree in writing. insurance proceeds.hall be applic�l to restoration or repair of the •,i�
<br />' Property damaged,if the restoration or repair is economically feasible and Lend�r's securiry is nut lessened. If the restoration or _ ,.,�_�� _ ` ,
<br /> re p a ir is not economically feasible or Lender's security woutd be lesser�ed.the insurance proceeds shall be app►ied to the sums _ ,_. _;_-..���_.���
<br /> secured by this Sscurity Insuument, whether or not then due, with any excess Pai d to Borrower. I f B a r r o w e r a b a n d o n s t h e •. t�.�,i��-���__
<br /> , Property, or does not answer within 30 days a notice from Lender that the insutance carrier has offered to setde a claim, then �;,,;,,;__.,-__
<br /> [.ender may collect the insurance proceeds. Lender may use the proceeds Eo repair or restore the Property or ro pay sums `� -
<br /> secured by this Security Instrument,whether ar not then due.The 30-day period will begin when the notice is given. . __ __ -
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or , _°°�_�'
<br /> � , postpone the dae date of the monthly paymenu refeRed to in paragraptis 1 and 2 or change the amount of the payments. If ':. 'm��:_=-_:
<br /> �. �-w�,��-�-.
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from �,��
<br /> damage to the Property prior[o the acquisiuon shall pass to Leader to the extent of the sums secured by this Security Instrument ,.:7+� �';h� �z-,_-
<br /> ' immediately prior to the acquisition. , • , ' - �' ':�,: �' -__
<br /> 6,pccapaacy,Preservation,l�iaintenance aad Protecbion of the Property;Borrower's Loan ApplicatIon;Leaseholds. ___� _-
<br /> � Borrower shall occu p}.�tablish,and use the Property as Borrower's principal rsidence within sixty days after the execudon of _.. -- .> _—_
<br /> `' ihis Security Instrucne.:and shall continue to oceapy the Property as Borrower'i�rincipal raidence for at least one year atter ...�,�r -' . -. :�-�;�'�
<br /> the date���occupancy.unless I..ender otherwise agrees in writing. which consent shall not be unreasonably withheld, or unless - �T,"� 5.;. �T•
<br /> eatenua�:'� circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or im�2sr the ,, -
<br /> . Property. allow the Property to deteriora[e.or commit waste on [he Property. Borrower shall be in default if any f�rfeiture •':
<br /> action or procceding, whether civil or criminal, is begun that in Lender's good faith judgment could rest::t in forfeiture of the •� ' � � :,�
<br /> :d•: ;
<br /> � Property or otherwise materiatly impair the lien created by this Securiry Instrument or Lender's security interest. Borrower may ,t •:::;:
<br /> cure sucfl a default and reinstttte,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a tuling """� ?�,.::�.•+�
<br /> t "
<br /> that, in I.ender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material �.. � : ,-;;j�':� �"—
<br /> ,�.
<br /> ' impairment of the lien created by this 3ecuriry Insuument or Lender's security interest. Borrower shall also be in default if .-�'!; ;t��.,;•,:_
<br /> � Borrower,during the loan appliqtion process.gave materially false or inaccurate information or statements to L.ender(or faited '�`�{ �;.• —
<br /> . ;�.' i
<br /> to provide Lender�r•1;�any material informationa in connection with the loan evidenced by the Note.including.but not limited ��r � , .
<br />' ����. to.representations conceming Borrower's occupancy of the Property as a prin�ipal residence. if this 5ecurity Instrument is on a �,��.;� �, _
<br /> � leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property. the � ��� •, —
<br /> �:�;-.;s'.�
<br /> leasehold and the fee title shall not mergc unless Lender agrees to the merger in writing. ___ _� �--� -�
<br /> � 7.Protection of Lender's Rights in the Property.If Borrower fails to perform the covenaau and agreements cantained in �,���
<br /> • this Securiry Insuument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a _
<br /> '� proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or tegulations),then Lender may do and �� ' '-���'��r---
<br /> i pay for whatever is necessary to protect the valae of the Property and L.ender's rights in the Propeny. i.ender's actions may -- „�,.!-'''�`-�`
<br /> �"•�=^= _.�
<br /> ' � :f inetude paying any sums secured by a lien which has priority over this Securiry Instrument, appearing in cosut. paying — --- _ ���;
<br /> 1 reasonable attomeys'fees and entering on the Property to make repairs. Although Lender may take action under this paragraph � �_�
<br /> 7.Lender does not have to do so. _ ��"`�"4��'
<br /> � .�� Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this �,�,:
<br /> � � Security Instrument. Unless Horrower and Lender agree to other terms of payment,these amounts sha11 bear interest from the T_� _ : �% �•_,_
<br /> � date of disbursement at the Note rate and shall be payable, with interest, upon notice from I.ender to Borrower requesting -
<br /> .. . � '� ° . :,,
<br /> . � payment. `'"rtie�;�.:*--��-
<br /> . S.Mortga�e lnsurance. If L.Qnder required mortgage insurance as a condition of making the loan secured by this Security .__;,;����••.:
<br /> . lnstrument. Borrower shall pay the premiums required to maintain the recrtgage insurance in effect. If, for any reason, the �;�
<br /> mortgage insurance coverage required by Lender lapses or c.eases to be in effect. Borrower shall pay the premiums required to M:;� .��;,°,
<br /> . obtain coverage substantially equivalent to the martgage insurance previously in effect,at a cost substantially equivalent to the •-� °.�s:' .. —_
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer apptoved by Lender. If :,:r•�;��. �•. ,
<br /> :� •
<br /> ' substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to l.ender each month a sum equal to q �o ,
<br /> one-hvelfth of the yearly mortgage insurance premium being paid by Borrower when the incurance w�erage lapsed or ceased to t,��~'(�°
<br />' � be in effect.Lender will accept,use and retain these paymes�ts as a loss reserve in lieu of mortgage insurance. Loss reserve � , ' �.
<br /> Form 3028 9180 '�7��"� ��
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