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<br /> 5. Hazard or Propee4r Insucanre. Bcxrower ,hsll I�rrp du impru<<ment� nu�rxi,ung ��n c�rcaftrr rrr�trJ un the � . ... �
<br /> Prupert3 insured again+t lu»h} fire, h:�ard. inrluded �e►thin the t�rm °�xtended ru�er�ge" �nd sn} nther h;uard., inrRuding � - -
<br /> tlaud�ur flooding. ti�r u•hich Lznder reyuirr�insur.�nrr. Th�+ in,urance+hall he maintaincd in th�am��unt.and fur the period. ,__�
<br /> that Lender requins. The imurance rarrirr pro�•iding thc rosuntnrc �hall he�hu,en h� Burc��u�r .ul�jctit tu 1_endcr'.appro�al . . ,
<br /> uhirh ,hall not be unrra�onat�h• withheld. IF Burrower faib tu msmtam �uceragr dc�criheJ anu�r. Lxn�lrr mc��. ee L..cnder'� ,
<br />_ optiun.obtain cocerage to prote�:t Leruier'.rights in the Property in sccorcJanre with paragraph 7. - _ '_ _'
<br /> All insurance policies and rene��al,shall be acceptable to Lender anJ+hall in.lude a ,tandani murtgage ciau+�. Lrnder ,
<br />: �hall have the right to hold the policies and renewals. If Lender requires. Borrower+hall promptic give tu l.ender aU receipts of <,;: _ ___�
<br /> paid premiums and renewal notices. In the event of loss. Borcower shall give prompt notice to the insurance carrier and Lender. _ , • r ::r =,
<br /> Lender may make proaf of loss if not made prompdy by�oaawer. , � : .�, . • •
<br /> -- :;:�:ss i.;.;de:arw Ecrs'cr:'�t atl:cr�•i�°,a�rw i��ret�ng, insnrance proceeds shall be applied to restoration ur repair of the _;, .�--_� � -T s ,��_
<br />� Property damaged,if the restoration or repair is economically feasible and Lendes's security is not lessened.If the restoration or ::��.�• ��-:�- �,,' �
<br /> repair is not etonomically feasible or Lender's security would be tessened,the insurance praceeds shall be applied co the sums ����.' -
<br /> ��n�;=_-
<br /> secured by this Security Insttutnent, whether or not then due, with any excess paid to Borrower. If Borrower abandons the �s�;;��.;�-
<br /> :_�=`.r:=---_�-�-
<br /> Property,or does nat answer within 30 days a notice from L.ender that the insurance carrier has offered to settle a claim, then ,;..;�-,,�;7zt1,�
<br /> L.ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums � ' _
<br /> �.• secured by this Security Instrument, whether or not then due.The 30-day period will begin whea the notice is given. , `�'��
<br /> ' , "'�"--
<br /> Unless Lender and Borrower otherwise agree in writing,any application of procceds to principal shall not extend or _V•'�
<br /> � postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If �� _ _w��e:�_
<br /> • under paragraph 21 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting from '�. "'�'"`��=
<br /> � �'s s��n:�
<br /> ._ damage[o the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrumenc •- �`_'
<br /> �,__..,.,_
<br />, immediatety prior to the acquisition. _� �`` �
<br /> :�fA�.`�'`.�:�
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<br /> 6.Occapancy, Pn'eservation,1�4aintenance and Profe�on of the Property;Borrower s Loao Application; Ixa�eholds. .�....
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execucion of '`�'' T'.' .
<br /> a�'v.'n• ��.:
<br /> ' this Security Instrument and shall continue to occupy the Property as Borrower's principal residence 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 cireumstances exist which aze beyond Borrower's conuol. Borrower shall not destroy, damage or impair the �� ti.- ,'':.`
<br /> Pro e allow the Pro e to deteriorate, or commit waste on the Pro Borrower shall be in default if any forfeiture � • :�� '� •.�
<br /> - A nY• P nY PertY• �_��.��;�..:..,f4:; _' --
<br /> action or praceeding, whether civil or criminal,is begun that in Lender's goad faith judgment could result in forfeiture of the - ����".. y'�.�..
<br /> = S,���'�:
<br /> Property or othenvise materially impair the lien created by this Security Insuument or Lender's security interest.Horrower may y�::�-
<br /> cure such a default and reinstate.as pravided in paragraph 18. by rausing the action ar proceeding to be dismissed with a ruling __ : � ;�i•': ___
<br /> that, in L.ender's gaod faith determination, precludes forfeiwre of the Borrower's interest in the Property or other material .�. . „ '=� � _„�
<br /> impairment of the lien created by this Sccurity [nsirument or I.ender's security interest. Barrower shall also be in default if ��� k
<br /> :-'��-., •':.�: .-
<br /> Borrawer,during the loan applicatiun pracess,gave matrrially false or inaccurate information or statements to Lender(or failed : � �,., -�-
<br /> to ravide Lcnder with any material informationl in connection with the loan evidenced by the Note,inctuding,but not limited . �' �-.��' -;�,;,
<br /> P .- +" "' r` -
<br /> to,representations concerning Borrower's occupancy of the Praperty as a principal residence.If this Security Insuument is on a 3i+i`:'
<br /> Ieasehold. Borrower shaU comply with all the provisions of the lease. If Barrower acquires fee title to the Properry. the ��`���
<br /> leaschold and the fee title shall not merge unless Lender agrees ta[he mergcr in writing. � ��_ - ---
<br /> 7.ProtectIon of Lender's Rtghts in the Property.If Borrower fails to perform the covcnants and agreements wntained in
<br /> this Security[nstniment, or there is a legal proceeding that may significantly affect Lender's righu in the Property(such as a —=�Q„
<br /> proceeding in bankruptcy.probate, for condemnation or farfeiture or to enforce laws or regulations),then Lender may do and
<br /> .._,._._ _-� �L... •
<br /> pay for whatevee is necessary to protect the value of the PropeRy and Lender's rights in the Property. Lender's actions may
<br /> include 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 5.�,���:
<br /> 7,Lender does not have[o do so. - " —�`
<br /> . Any amounts disbursed by L.ender under this paragraph 7 shall become additional debt of Borrower secured by this �- ,:�
<br />. : Security Instrument. Unless Borrower and Lender agree to other terms of payment.these amounu shall bear interest from the ��_•-��� `=
<br /> date of disbursement at the Note rate and shall be payable. with interest, opon notice from Lender to Borrower reqnesUng �-�`"�`
<br /> payment. ' '����
<br /> ' 8.Mortgage Insurance.lf Lender required mortgage insurance as a condition of making the loan secured by this Security � .;.,,_
<br /> Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If. for any reason, the '"T�'��.
<br /> � i mortgage insurance coverage required by Lender lapses or ceases to be in effect,Bonower shall pay the premiums required to -
<br /> � obtain wverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the �`�� ���
<br /> � �����:
<br /> �, cost to Borrower of the mortgage insuranec previously in effect, from an alternate mortgage insurer approved by Lender. If :..��.�,���
<br /> � substantially equivalent mortgage insurance covernge is not available,Borrower shall pay to Lender each month a sum equal to -"`'���*��-�^
<br /> � �� one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage iapsed or ceased to �`��� �
<br /> • be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �•• ���
<br /> -�;s�islc-�!-•.
<br /> Form 3028 9l80 � � ' • _-
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