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<br /> . 5.I�a7ard or Property insurance. Borrower shaU kecp the improvements now existi�g or hereafter erected on the Propeaty � • , r
<br /> ; inswred against loss by fire,ha7ards included �vithin the term "extended coverage" and any other ha7ards. including floads or ` ,
<br /> � flooding,for which Lxnder requires insurance.This insurance shall be maintained in t�e amounts and for the periods that Lender 4
<br /> ? requires.The insurance carrier providing the insurance shall be chosen by Borrower subject w Lender's aPPro'rai which shall not � _
<br /> � be nnreasonahly withheld. If Borrower fails co maintain coverage desaibed ab°ve, Lender may, at 1.ender's option. obiain ` ( • - '
<br />.� coverage ro pmtect Lender's righis w the Proparty in accordance with paragraph 7. , . .
<br /> i All insurance policies and renewals shall be acccptabte tn L.ender and ehall include a standard mortgage clause.Lender shall L __ ._
<br /> ' 6ave the right to hold the policies and renewats.If Lender re9uires,Barmw�r shall promptly 8ive to Lender a11 receipts of paid ; ;. ,
<br /> I premiums and renewal notices.In the event of loss,Borrower sha118ive prompt norice to the insurancc camer and Lender.L.ender `
<br /> � may make proof of loss if not made promptly by Borrower. . , ,
<br /> � Unless L.ender and Bonower od►erovise agrce in arciting,insurance Pr��shall be applied m restoration or repair of the �- � _ �
<br /> � �P�Y�g�if the reswradon or repair is economically feasfble and Lender's secutity is not lessened.If the reswra:tion or � . . . ..�
<br /> repair is not economically feasi'ble or Leuder's seciuity would be lessened.t}►e insurance proceeds shall be aPPlied t°the sums E l�
<br /> secured by this Securiry lnstruQ►ent, a�hether or not then due, with any excess paid to Borrower. If Borrawer abandons the
<br /> Property,or does not answu within 30 days a notice from Lender thaz the insurance cairier has offered w seule a�c�th� ,�.
<br /> Lender may collect the insurance pmceeds.L.euda may ose the proceeds w repair or restore the Property or to pay „__`_�
<br /> by dus Security Instivment,whether or not�hen dae."Ihe 30-day period wi71 begu►when the norice is given. ; ; _ --
<br /> i Unless I.ender and Borrowee�otheawise agrce in writing,any applir,�rion of proceeds w principal shall not extend or postpone �,.
<br /> �he dae date of the monthly paymeass refeired to in pazagraFhs i and 2°r change the amount of the payments•If under paragraph f ' ' : ,-
<br /> � 21 the P�aperty is acquired by Lender.Borrower's right tn any ins�rance policies and proceeds resulUng from damage to ihe 1 � ' � �
<br /> �� P r o p e a t y pri o r t o t h e a c q u i s i t i o n s h a ll p a s s w Lender to the extent of the sums secured by this Secucity Ins�u��►t��ly , 4
<br /> all .. .;�:.._..
<br /> � prior to the acquisition.
<br /> � ,��:_
<br /> Preservatian,Ma�tenance and ProtecCon of the Property; Borrower's �.oan Applisation;Lease6olds. �T � '
<br /> 6.����• as Borroaer's rinci residence within sbcty days afrer the enecurion of :'�: _, :
<br /> Borrower shall occupy,establish,and use the Property P P�
<br /> �� this Seauiiy Insuumeat and shall conYinne to occupy the Property as Bonower's principal residence far ai least one year after the : . .
<br /> date of oocupancy, untess Lender otherwise agrees in writing, which cor.sent shall not be anre�sonably arithheld, or unless � �
<br /> extenuapng circun►stances ezis�which are beyond Borrower's conbroL Borrower shall not destroy,dama8e or impair the Property, . :,
<br /> �o�v �pmpqty to deterinra�.�,or commit waste on the Property. Borrowa shall �se in default if any forfeiture action or - 4 "`
<br /> p�g��„�h��r ci,ril or criminal,is begun that in Lender's goad faith judgment cou!d result in forfeiture of the Property or
<br />. � o�herwise materially impair the lien created by this Security Ins�ument or Lender's sec�uity interest Borrower may cure such a
<br /> default and reinstate.as provided in paragraph 1$.by causin8 the acdon or proceeding w be dis�issed with a mlic►g that,in
<br /> .;{ ap _
<br /> Lender's gaod faith detesmination,precludes forfeiture of the Borrower's interest in the Property or oi�er material impairment of
<br /> the lisan created by this Seauity Insuument or Lend�'s security interest.Bonower shall also be in d�efault if Bflrmwer.d�ng t�e • .�.,;
<br /> n
<br /> loan application process,gave materiaUy false or inacc�uate informarion or statements to L.ender(or failed to provide L.ender wiih
<br /> any material inf�imarion) in connection with the loan evidence� by the Note. including, but not limited w. rePresentarions �::t
<br /> conceming Bosowgr's occupancy of the Propert}+as a p�►�P�residence.If this Security InsOrument is on a leasehold,Borrower ` • ��;,.;.
<br /> shali comply with all the provi�ons of the lease.If Borrowed acquires fec title to the PropercY,d►e leasehold and the fee dfle st�all �,:,�,,__r-��
<br /> not merge uriless Lender agrees tfl the merger in writing. -7°'—
<br /> • 7.Protection ot Lender's RJghts in the Property. If Borrower fails to perform the covenants and agreemenis contained in "'` . -���
<br /> ,;e'•.,'...
<br /> ' this Security Instsument,or there is a tegal proceeduig that may significandy affect Lender's right�i�the Property (such as a `��__- ..�_—
<br /> '.� p�ing in banl�uptcy,probate.for condr.mmation or forfeique or to enforce laws or regulati�ns),t�sn Lender may do and pay ,. �,�w-�-
<br /> ...� for wtiatever is necessary to protect the value of the Property and Lender's rights in the Prop�ty.Lender's acdons may include __ ���
<br /> PaY�B �Y swns secured by a lien which has priority oyer this Security Instarment,aPP�B in co�ut.Pa3+inS reasonable • ��
<br /> .� attomeys' fees and entering on the PropertY to make rePaizs• Although Lender may take action nnder this paragrz�h 7,Lender -.. :�:����_
<br /> ��� does not have to�!o so. � .�� ''�
<br /> �;��{ pay amounis disbursed by Lender under this paragraPh 7 shall becarne additional debt of Bor,rower secured by this Security � '':,_���
<br /> � Instrument Unless Borrower and Lender agree to other terms of paymen6 these smounts shall bear interest from d►e date of � �
<br /> disbursement at tha IVote rate and shall be payable,with interest,upon notice from Lender to Borrower requesting payment • . .,.
<br /> S.Mortgage Insurance. If Lender reyuired mortgage insurance as a condition of malong the loan secured by this Security . �. ,�
<br /> Insuument, Bolrow� shaU pay the premiiuns required to maintain the mortgage insurance in effec.� If. for any reason,the � .
<br /> mortgage inswance coverage required by Lender lapses or ceases to 1�e in effect,Boaower shall pay the premiiuns required to t+ . .
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost suLstantiallY equivalent to the
<br /> cost w Borrower of the mostgage insurance yreviously in effecb from an altemate mortgage insurer approved by Lender. If
<br /> substantialiy equivalent mortgage insurance coverage is not availabte.Borrower shall pay to L.ender each month a sum equal to �.
<br />� one-tweffth of tfie yearly mortgage insurance premium being paid by Bormwar when the insurance coverage lapsed or ceased to �� ' .
<br /> }��eg¢��.Lender will acr,ept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve .
<br /> Form 3028 9I90 � ,
<br /> �•eR(N�192121.01 Pape3of0 Imtlab: ( � _ � .
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