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<br /> , S.H�d os PropPrty Inc�rranCe. Borrower shall keep the improvements now exis6ng or hereafter erected on the Property :� . . . _
<br /> i ins�ued a g a i n s t loss by fire.harards incladed arithin the term"extended cavetage" and any other h�.ards, including flaods or . . • •::.�
<br /> tlooding,for which Leudrd requires insivance.'Ihis iasurance shall be maintained in shs amounts and for t he pezio d s t h a t L e n der . . ' , `�;.
<br /> • 1 �q�.'�'�e insurdnce qrrier pmviding the insurance shall be chosen by Borrower subject to I.ender's approval which shall not . • • , ' ,
<br /> �j be unreasonabty withhcld if Borrower fails to mauetain rnverage descn'bed above, Lender may. at Lendei s opuon, obtaiu . °�
<br /> i covecage to protect Leuder's rights in the Property in accordance with paragraph 7. . ' , .
<br /> , •; All inswance policies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause.Lender shall �
<br /> � have the right tn hold the policies and renewais.If Le�►der requires.Borrowea shall promP�Y 8ive to Lender all receipts of paid __ . .;° -
<br /> � premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to ifie insurance carrier and Lend�r.Lender `
<br /> ; may make proof of loss if not made prompfly by Barrower. � � _
<br /> ' Unless Leades and Barrower othetwise agree in writing, insurance proceeds shall be applied w restotarion or repair of the .
<br /> � property damaged,if the restnrarion or repair is economically feasi'ble and Lendes's security is not lessened. If the restorasion or .. ��
<br /> � repas is not ezonomically feasible or I.ender's secwity would be lessened,the insUrance proceeds shall be applied tn the sums ` •- _ '_�
<br /> -._� � seGUed by this Sec�uity Instrument, whether or not then due,witb any excess paid to Borrowet. If Bomower ab2udons the , , �,�'
<br /> i Propeaty,or does not auswer within 30 days a natice from L.ender that ihe insurance carriear has offered to seule a claim,then ,.�
<br /> , � L,euder may collect the insurance proceeds.I.ender may use the proceeds tn repair or restore the Property or to pay sums secured . •
<br /> by this Sec�uity Insuument,whether or aot then due.'Ihe 3()-day periad will begin when the natice is given. i , � `' "�"
<br /> Unless I.ender and Borrower otheiwise agree in writing,anY aPPlicaIIOa of proceeds to principal sha11 not extend or posnpone . �• • . ��g�-.
<br /> the due date of the manthly payments refeared to in paragraphs 1 and 2 or cdange the amount of the paymeaLS.If under par�v�aph • , . . � � T
<br /> 2 1 t h e P r o p�t y is a c quired b y L,eIIder.Borrower's right to any i.-�surance policies and proceeds resulting fmm damage to the " . --
<br /> �P�Y Pnor to ihe acquisition shall pass to L.ender w the extent of the sums secured by this 5ecurity Instrument isnm c d i a t e ly i ' � , . . �' ,.:r.-�--
<br /> , prior to the ar,quisition. � , :. .. `� "
<br /> Je., .�
<br /> � ,� 6,Orcupaacy,Preservatton,Maintenance and Protecbion of the Praperty; Borrower's Loan Appiicati�n;Leaseho[ds, . — �--'"�
<br /> � ` ~ Y J
<br /> Borcawer shall occupy,establish,and use the Pro�erty as Borrower's prmcipal resiclence within sixty days aftec the execution of .
<br /> this Setauity Insprument and shall continue to occupy the Property av Bonower's principal residence for at least one year afte�r the � , � , �,��;,'j _.
<br /> date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless t ,%-;�, .;',' �.
<br /> e or un anr tfie Pro = �, ' �
<br /> �• e x t e n u a t i n g c�u m s r a n c e s exist which are be yond Borrower's wntrol.Borrowex shall not desiroy,damag p P�Y• C' . .''�''' ''� �
<br /> allow the Property to deteriorarE, or commit wassc on the Property. Borrower shall be in default if aaY forfeiaue acdon or . • �• � � ' �
<br /> r proceedin8,whether civil or criminal,is hegun that in Lender's good faith judgment could result in forfeiwre of the Property or . ��� : � ' -
<br /> 'J .�,. �... `•.--
<br /> - � ; o t h e r w i s e m a t e r i a i l y i m p a u the lien c�eated b y this Seruri t y Insunment or L.ender's security interest Borrovler may cure such a : • 1. �'� �, -
<br /> ..y default and reinspte,as provided in paragtaph 1�,by causing the action or ptoceeding to be dismissed with a niling thai, in . ..'�" ,��` •—
<br /> ` L e n d e a's g o o d f a i t h d e t e r a�i n a t i o a,p r e c l u d e s f o r f e i t u r e o f t h e B o rn o w e r's i n t e r e s t in the Pro p e r i y or other matraial im pairment af �� ,•
<br /> ,; t6e lien created by this Security Insuument or I.ender's security int�mst.Borrower shall also be in default if Hoaowea,during the �" ��':.f • _
<br /> i� loan agplication process,gave materially f a L c e or inaccurate i n formauon or s ta t em e n t s t o I.e n d e r(o r f a i l e d t o p ro v i d e L�n d e r w i t h '
<br /> .� any material infotmarion) in connecuon with the loan evidenced by the Note, including, but not limited w, representaaons ' •�� `S� •
<br /> .r .- _. . __ ���; `� ��-
<br /> � wnceraing Borrower's occupanty of the Property as a principal residence.If this Security Insoruineait is on a leasehold,Hosrower
<br /> .,�� sdall comply with all the provisions of the lease.If Borrower acquires fee 6fle to the Property,the leasehold and the fee tide shall �'' f� �' �
<br /> .�:'
<br /> not merge unless I.ender agrees tn the meager in wriring. .. : -,
<br /> 7.Proteetion o!I.endtr's Rig�ts in t6e Property. If Bonower fails to perform the covenants and agreemenLs contained in '. .'`=�;�--�
<br /> this Sea�rity Tnsuument,or there is a tegal proceeding that may significandy affect Lender's rights in ihe Property(such as a � `���--�
<br /> • proceeding in baniaa�ptcy.probate,for condemnarion or forfeiwre or to enforce laws or regularions),then Lender may d�and pay �— -
<br /> � for whatevea is necess�y w protect the value of the Property and Lender's righu in the Propeaty.Lendei s actions may include " �""�"���'
<br /> pa}m�g any sums sesvred by a lien ahich ttas priority over this Sectuiry Ynsd'ument,aPPearing in wurt,PaYu►8 reasonable � '��f;'�,::� ._
<br /> a�omeys'fees and enteiing on the Property to make repaus.Although Lender may takc action under thlis para�raph ?,Lender y..-n�-
<br /> � does not have w do so. • .
<br /> �.�:.
<br /> . Any amounts disbursed by L�ender under this paragraph 7 shall become addidonal debt of Borrower secumd by this Security • • ��
<br /> InsuumenG Ualess Barrowe�and Lendar agree to oiher terms of paymenb these amounts shall bear interest from the datc of • �.' .'--��. —
<br /> ' disbwsement at the Note rate and shall be payable,with interest,upon notice from I.ender to Bomnwer res�uesting payment . � •"��.�=`"`'
<br /> �. S.Mortgage Inswance. If Lender required mortgage insurance ag a condition of making the loan seciued by this Securiry . . `
<br /> . Instrumea►t,Bolrower shall pay the premiums required tn maintain the mortgage insurance in effect If, for any reason, the . '��"
<br /> mortgage�surance coveYage required by Lender lapscs or ceases to bc in effect,Borrower shall pay the premiums required to . 4,��.,r,.;�.. .
<br /> obrain covea�age substsnially eq�ivalent w the mortgage insuranse prehously in effect,at a cost substantially equivalent to the —
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<br /> cost to Borrower of the mortgage insurance previously in effecb from an altemate mortgage insurer appmved by Lender. If � . '
<br /> substantially equivalent mortgage insurance coverage is not available. Borrower shall pay to Lender each month a sum equal to • ' � � _
<br /> one-twelfth of the yearly mortgage insurance premitun being paid by Borrower when the insurance coverage lapsed or ceased to . •
<br /> be in effect Lender aill accept,nse and retain tl�ese payments as a loss reserve in lieu of mortgage insurance. Loss reserve ' .
<br /> � Form 3028 9/90 ' • �
<br /> . �-6R(NE)(92t21.o� Pape3ots Imuata: �p'
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