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<br /> �7.. 1,o�Q 31. � � �_
<br /> 5. Nazard or Property insarance• BoTTOw•er shall keep the improvements now exisTing or hereafter erected on the ' , ', � - ;
<br /> Property inwred against loss by fire. h;uard� included within the term "extended rnverage" and any other haiards. inciuding , •.; 4*.�_.'
<br /> floai�or tloucling, for w�hich Ixnder require�insurance.This insurance shall be maintained in the smounts and for the periods ; -_
<br /> that L.ender requires. The in�urance c�arrier providing the insurance shall be cho�en by Borrower ,ubject tu Lender',appmval . , „
<br /> which �hall not be unrea�onably withhrld. If Borrower fails to mainuvn caverege dexribed above. Lender may. at Lertder's —
<br /> ;_ option.ubtain roverage ta protect Lender's rights in the Property in accordance with paregraph 7- � • ,
<br /> �r� All insur.ince policic� and *enewals shxll be acceptable to Lender and shall indudz a standard mortgage clause. Lender �:;�
<br />. ,hall have the right to hold the policies and renewals. If LenJer requirc�s.Barroa•er shall promptly giti•e to L,ender all receipu of _ __ __ __.__,_ _
<br /> paid premiums and renewal natices. In the e�ent of loss.Borrower shall give prompt notice to the ituurance carrier and Lender. .
<br /> � Lender m�y make proof of loss if not made promptly by Borrower. _ _ _ __ _ ._
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the .--� -
<br /> � Propeny damaged,if the restoration or repair is economically feasible and L,ender's security is not IesseneQ. If the restoration or .. _.,_ ,^___`.
<br /> `�' repair is not economically feasible or Lender'�security would be lessened. the insurance proceeds shall be applied to the sums '�:'�' +
<br /> , _'..5.=..' 'Lqt_
<br /> �:�-✓�.LY'�'-.�.�-...
<br /> � secured by lhis Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the ,_ - �__
<br /> ', % Property,ur does not an5wer within 30 days a notice from I.ender thai the insurance u'�rrier has offered to settle a claim, then .� _.,'-�;;�_._'-
<br /> •:S".fi_—"_—_
<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums �� _'�_� ����::s: :
<br /> ' secured by this Security Instrument,whether or not then due.The 30-day period wiQ begin whe�the notice is given. , . .
<br /> �4' Unless Lende� and Borrower otherwise agree in writing, any application of proceeds to principal shall not extertd or -�-'
<br /> postpone the due date of the monlhly paymenu referred to in paragraphs 1 and 2 or change the amount of the payments. If ,�,y;�a�-___
<br />- . " under paragraph 21 the Property is acquired by l.ender.Borrower's right to any insurance policies and proceeds resulting from f
<br /> � ...�::�`u—.
<br /> �' damage to the Property prior to the acquisition shall pass to l.ender to the exten[of the sums secured by this Securiry Instrument � �:;
<br /> immediately prior to the acquisiuon. -��"����': '�
<br /> 6.Occupancy,Presei'vatfan,Maintenance and Protedion of ttse Property;Borrower's Loan ApplIcatfon; Leaseholds• �'.
<br /> - -ali��.
<br /> � Borrower shall occupy,establish,and use the Properry as Borrower's principal residence within sixty days after the execution of :: . �,_
<br /> this S�curity Instrument and shall continue to occupy the Property a+Borrower's principal residence far at least one year after 'y-�±-'-�� ,. -
<br /> FT��- -
<br /> . the date of occupancy.unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless Y�:; :r W
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair [he :,T
<br /> Property. allow the Property to deteriorate, or commit waste on the Pro ert . Bonower shall be in defaulc if any forfeiture ;�;,j;t; •"
<br /> 'sp ood fait h 'u d ment cau l d res u l t i n f o r f e i t u r e o f t h e ����!•�,��
<br /> a¢tion or proceeding. whether civil or criminal,is begun that in Ler.der g 1 S �.;;i ,
<br /> Property or otherwise materiaUy impair the lien created by this Security(nstrument ar Lender's security interest. Borrower may - � �' —
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<br /> � - cure such a default and reinstate.as provided in paragraph l8,by c�ausing the aciion or proceeding to be dismissed with a ruling %_ , . •��;� �
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<br /> that, in Lender's good faith determination, precludes forfeiture of thc Borrower'� interest in the Property or other material ;�;;f#�;
<br /> impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if � �:.�r ;7"�+�*. `•:t•�
<br /> Borrower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed '!_�,., ��
<br />. to provide Lender with any material information)in connection with the loan evidenced by the Note.inciuding.but not limited � �
<br /> oncemin Borrower's occ ancy of the Propeny as a principal residence. If this Security Instrument is on a ' ��'__� �
<br /> to,representattons c g uP
<br /> ' leasehold. Borrower shall comply with ali the provisions of the lease. If Horrower acquires fee title to the Property, the �{. .n-_
<br /> � leasehotd and the fee title shall not merge unless L.ender agrees to the merger in writi�g. � --
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<br /> � 7.ProtectIon of Lender's Rlghts in the Property.If Borrower fails to perform the covenants and agreements contained in -�`�" r_��%:..,
<br /> • this Securiry Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a .-.�,.� �__=-
<br /> procceding in bankruptcy,probate, for condemna[ion or forfeiture or to enforce laws or regulations), then Lender may do and : .. ,
<br /> `. pay for whatever is necessary to protect the value of the Propeny and Lender's rights in the Propeny. I.ender's actions may '��> �:�._��y.:-:;•,��::
<br />' � include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying �,..�,` .,.:,..��.j,�__, _._
<br /> - reasonable attomeys' fees and enterina on the Property to make repairs. Although Lender may take action under this paragraph __ __
<br /> 7.Lender does not have to do so.
<br /> ' Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this _
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<br /> Security Instrument. Unless Bonower and Lender agree to other terms of payment, these amounts shall bear interest from the - -�
<br /> : date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting �-*�� �,�- `
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<br />- . payment. -�•�,r.�►_=. _-.
<br /> S.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security �z,_, .,.,,^ __�-
<br />'` Instrument, Borrower shall pay the premwms required to maintain che murtgagc iu�u�ancz in effeci. If, for any reason. the '^`;^`" °'"^"�'
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effecl.Borrower shall pay the premiums required to r �� --
<br />� � o the mon a e insurance reviously in effect, at a wst substantially equivalent to the ? _,=��_��,�_"
<br /> t obtain wverage substantially equrvalent t S S P _ - ^;
<br /> � cost to Borrower of the mortgage insurance previously in effect. from an altemate mortgage insurer approved by Lender. If
<br /> � . substantially equivalent mongage insurance coverage is not available. Bonower shall pay to l.ender each month a sum equal to ����p.�;" �
<br /> : . one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance wveca�e lapsed or ceased to . �•`
<br /> be in effect. I.ender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> -.•�-,-.,�_4:
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<br />• _ � Form 3028 9/90 ,�-�,..;,,�.-. . .
<br /> • Pa90 3 0l B - 1:�.-_
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