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<br /> S. liaulyd or F'rupert� In�uranc�. B��tt�,urr .hall 6trp ch� unpru�ctnrnt� nu« c�i.l�nt „r lirrrallrr rrCrltd ��n the , . . '.. . . `'°`�'
<br /> Pruprn} �n.ur�d �grin+t 6�., h} lirr. h:uarJ, inrludcd withm thr icrm °rttrndcd ru�rr:t�r" :mJ am utli.r liaiard., mrluding �•-
<br /> iluuJ,«r IluuSm�!. t�,r w•hirh L.cnJer rcyuire. m,uranc�. Thi+m.uranrr.hall he n�amta�nrd in ihr.�niuunh and tur thr p:noJ, =ti�
<br /> that l.�nd�r rcyuur•. Thr m.uranrr�amer pru�tJing thr in,urancr tiliall hr rhu,r�i h} Burn�H�r �uh�c�t tu L.cnder',appn,�al a��_'
<br /> ��hirh ,hall nat hr unrr�.u,nahl� «uhhcld. li Burru�«r la�l+tu ma�nt��n u���rrag� Je.�nhc� ahu�c. L�nder m:�}. at L.rnJ�r', .
<br /> opciun.��tain ru�•�rage tu prutect Lender'.righa in the Pruptm• in accordanr�w ith p:iragraph 7. . �. , .�-
<br /> All in,urance p��lici��+anJ renewxls +hall he a�cepiahle to Lendr� :u�d �ha�� in�ludc a .tand3rd �nt>ngage rlau.e. [Ander _ __ _ _ _ __ _ ..
<br /> +hall have the right tn h1�IJ the polirie�and renew:il..If Lender rcyuirc�.B��n'nw�cr�haU pmmptly gice[u Lender all receipt.of . �
<br /> paid prcmium�and reneaal notice,. In the event of la��. Borrower,hall give prompt not�ce ta the insursnce carrier and Lender. - � � , R
<br /> :_.• �-; ..-
<br /> Lender may malce pmof of lo�.y if not made promptly by Borrower. � �.
<br /> Unless Lender and Borrower atherwise agree in writing.insurance proceeds+hall be applied to restoration ur repair of the : ��..��,_,ti;__-- y`
<br /> Property damaged,if the resiuration or repair is e�:onomi�lly feasible and L.cnder's�ecurity is not lessened. If the restoration or _ti _ .-_� . __
<br /> repair is not economically feasible or Lender's securiry would be lessened,the insurance procceds shall be applied to the sums ;= "�`
<br /> � secured by this Security [nstrument, whether or not then due, with any excess paid tu Horrower. [f Bnrrower abandons the � '��'" ��-_
<br /> Property. or does not:�nswer within 30 days a notice from l.ender that the insurance carrier has offered to settle a claim, then _
<br /> Lender 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 wiil 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 due date of the rnonthly paymenu referred to in paragraphs 1 and 2 or change the amount of the paymenis. if r..�;�_—
<br /> under paragrdph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from . ��±� � �`-_' `
<br /> . � �j..ar-
<br /> • damage to the Property prior to the acquisition shall pass to L.ender to the extent of the sums secured by this Security Instrument _,r. ��-�'�' �
<br /> `,.
<br /> immediately prior to the acquisition.
<br />.' 6.Ocenpancy,Preservation. Maintenance and Protertion of the Property; Borcower's Y.oan Application; Leaseholds. :�.�:••
<br />� Borrower shall occupy, establi�h,and use the Property as Borrower's principal residence within sixty days after the execution of � ,,�` -
<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 occupanry. unless Lender othenvise agrees in writing, which consent shall not be unreasonably withheld, or unless '*�
<br /> extenuating circumstances exist which are beyond Borrower's control. Bonower shall not destroy, damage or impair the �`'►��,`� �''
<br /> Propeny. allow the Property to deteriorate. or commic waste on the Property. Borrower shall be in default if any forfeiture "�„
<br /> -` action ur pruu�ding, wficthcr ci�il or criminal, is begun that in t.ender's good faith judgment wuld result in forFeiture of the �.��'.;_: . _ :'r_`
<br /> Properry or otherwise materially impair the lien created by this Security Instrument or L.ender's security interest. Borrower may ' ;�`%.'�
<br /> ., �,: ..
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling t4
<br /> + that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the PropeRy or other matecial . ��)-11i1
<br /> ..�.L�.... �`'i.3 ''.
<br /> impairtnent of the lien created by this Securiry Instrument ar Lxr.der's security interest. Borrower shaU also be in default if ,_ :
<br /> Borrower,during the loan applira*_ion process,gave materiaUy false or inaccurate information or state�nents to Lender(or failed N ` '
<br /> � to provide Lender with any material informationl in connection with the loan evidcnced by the Note.including,but not limited �,:°�
<br /> to, representations concemin g Borrower's occupancy af the Propeny as a principal residence. If this Security Instntment is on a • ,.r:i;;:._.r.;�•
<br /> �. ;a.:. :��, •,
<br /> leasehold. Borrower �.t�all comply with all the pravision, of the lease. lf Borrower acquires fee title to the Property. the . ��-�' -
<br /> -a; .
<br /> leasehold and the fee title shall not merge unless Lendcr agrees ro the merger in writing. .:';"_�
<br /> �`_'t 7.Profeetion of Lender's Righis in the PropeRy.if Borrower fails to perform the covenana and agreements contained in
<br /> , "'a�,��..��
<br /> this Security Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Propeny(such as a -------
<br /> proceeding in bankruptcy,prabate,for wndemnation or forfeimre or to enforce laws or regulations), then Lender may do and �. � �_
<br /> pay for whatever is neoessary to pmtect the value of the Property and Lender's rights in the Property. Lender's acdons may � �,�
<br /> • include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying _ __ __
<br />. ',��i reasonable attomeys' fees and entering on the Property to make repain.Although Lender may take action under this paragraph ��' ' °- --
<br /> 7.Lender does not have to do so. .��; __
<br /> ' Any amounts disbursed by l.ender under this paragraph 7 shall become additional debt of Barrower secuted by this ; �.+,�;';_��=-i
<br /> i —
<br /> Security Instrucnent. Unless Borrower and Lender agree to other terms of payment,these amounu shall bear interest from the .�q '. •� '.:. .�_
<br /> • '� date of disbursement at the Note rate and shall 6e payable, with interest, upon notice from Lender to Borrower requesting ��.. .i.,�
<br /> payment. -���^.
<br /> � •� S.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Securiry -.���-�� .�
<br /> ' Instrument. Borrower shall pay the premiums required to maintain the mort�age insurance in effec:t. If, for any reason, tlie • �
<br /> , � mortgage insurance coverage require� by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to :�..*::�: ._. .�"�"'
<br /> •,i obtain coverage substantially equivalent to the mortgage insurance previously in effect. at a wst substantially equivalent to the . ��'
<br /> ' cost to Borrower of the mortgage insurance previously in effect, from an alternate mongage insurer approved by Lender. If rvr�r . � ,-
<br /> "f.�T..^'.1'+.!'F,T'���'--
<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 premium bein�paid by Bonower when the insurance coverage lapsed or ceased to . � _ ., _
<br /> be in effect. �.ender will accept.use and re[ain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve __-
<br /> ,.:� Form 3028 9/90 � � �°�
<br /> Fege 3 0l 6 �"f..:.-.
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