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<br /> 97.� 1��09� ; � - � y�
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<br /> � 5. Elaxard or Pmpzrty Insurance. Bonower shall keep the improvements now existing or hereafter erected on the ' • � � . "
<br /> Property insured against loss by fire,ha7acds included within tt�tertn'extended coverage" and any ather hazards, including . `, -.
<br /> � flaods or flooding.for wtuch Lender requins insurance. This insurance sha11 1�e maintained 'u►the amaunts and for the periods , , �, . .
<br /> that Ixnder requires.The insarance c:arrier providing the in�-utance shall be chnsen by Borrower subject to Lender's approval � , . .
<br /> � which shall no[be unreasonably withheld. If Borrower fails to meintaiti covernge described above, L.ender may,at L.ender's E
<br />�? opdan,obtai.n coverage to pmtect Lender's rights in the Property in accordance with paragrdph 7• : , � �.
<br />�� All insu�ance policies and renewals shall be acceptable to Lender ancl shail inciude a s[andard mortgage clanse. Lender �-- - _ - - _.- -- _
<br /> j shall have she right ro hold the policies an�renewals. If Lender requires,Borrower shall prompdy give to Lender all receipts of � . _,
<br /> J paid prenniums and renewal notices. In the event of loss, Borrower shall give pmmpt notice ta the insurance carrier aad Lender. . �
<br /> j L.ender may make gtoof of loss if not made prompdy by Borrower. �` . .. '=��_�
<br /> 1 Unless Lend.er and Borrower otherwise agree in writing.insurance Proteeds shaU be applied to restoration or repair of the � � .. ��. :•:`
<br /> Property damaged,if the testotadon or repair is economically feasible and Lender's securiry is not lessened. If the restoration or . .
<br /> �...
<br /> repait is not econflmically feasible or Lender's seeurity would be lessened. the insurance proceeds shall be a�plied to the snms •
<br /> ent whether or not then due, with any excess Faid to Borrower. If BonroRSr abandons the � � • �- !�
<br /> secured by th�s Secvnty Instrum .
<br /> Property�or does not answer witLin 30 days a notice from Lender that the imuraace carrier has offered to settle a claim,then i� , , .: �. <' . -_
<br /> L.ender may collect the ins�uans.�e proceeds. C.ender may nse the proceeds to repair or restore tIie Property or to pay s�s ! ��• - s:::v.__ : ': '
<br /> ltl4��_'�•-—
<br /> sec.vm4 bq ttus Security Insavment,whether or not then dne.The 3Q-c�ay period will begin when the notice is given. � • ;f-_=..-_
<br /> Ual�s Lender and Borrower otherwise agree in writing, any application of procceds to principal shall not extend or '��
<br /> f _�.
<br /> postpone the due date of the mantWy payments�eferred to in paragraphs 1 and 2 or change the amount of the payments.If under � � .�,,�::�....•9-���-.
<br /> paragtaph 21 the Ptoperty is acquired by Lender, Borrower's right to any insivauce policies and proceeds resultinb from I ���
<br /> damage to the Property prior w the acquisition shall pass to t.ender w the extent of the sums secured by this Security Instrament _ '.—��� '
<br /> •� immediately prior to the acquisition. . . � �''�.�,�
<br /> 6.Occapancy,Preservatton,Maintenance and ProtedIon of the Property;Borrower's Loan Appiication;Lease6olds.
<br /> '��.�;��•��-�
<br /> ��' Borrower shall occapq, establish,and use the Property as Borrower's principa!residence within sixty days after the execudon of � •���, •i,;�,;;
<br /> r this Sec,vrity TnS�ment and shall conrimie to accapy cfle Property as Borrower's prineipal residence far at least one year after
<br /> rim
<br /> the daoe of oaupancy,nnless Lender othetwise agrees in writing,wluch consent sLall not be unmasonablg witi�held.or unless • '_.=�•,.;��
<br /> eatem�ating circumstances e�cist which are beyond Borrower's conirol. Borrower shall not desuoy, @amage or impair the -
<br /> Property,allow the Property to deteriorate, or commit waste on the Propetty. Borrower shall be in default if any forfeiaue • ���� -
<br /> action or praceeciing.whether civil or criminal,is begun that in Lender's gaad faith judgment could resolt in forfeiture of the
<br />. Propecty or otherarise materially impair Bae lien created by this Secwity IasCrument or Lender's secarity interest. Borrower may _ ,;�,��'•.
<br /> cure such a default and reinstate,as provided in paragraph 18,�y causing the action or pmceeding to be dismissed with a iuling ��` ,
<br /> that,in Lender's goad faith determinadon, precludes forfeiture of the Borrower's interest in the Property or ather material �� `
<br /> ' securi interesG Borrower shall also be in default if `� .��
<br /> impaitment of the lien created by this Sectuity Instrt�ment or l.ender s ry ;�, ,r
<br /> Boaower.durin�the loan apptication pracess,gave materially false or ivaccuiate iaforma6on or statements to Lender(or faiiled ,. ,F.,.
<br /> to provide Lender with any material information)iu connecdon with the loan evidencecl by the Note.including,but not limited ,-<_. �__ _
<br /> to.representadonc concerning Borrower's accupancy of the Property as a principal residence. If this Security Instrument is on a � �? .• �:'`'��
<br /> leasehold, Borrower sha11 comply with all the provisions of the lease. If Borrower acquires fee dde W the Property, the �,�y�--�-"`�'
<br /> leasehold and the fee dtle shall nos merge unless L.ender agrees to the merger in writing. ' �� ���-�
<br /> 7.Protection of Lender's Rig6ts in the Propeaty.lf Borrower fails to perfoim the covenants and agreements contained in �� -����"'°"_°-"
<br /> this Sewrity Instcument,or there is a legal proceeding that may sibmificandy affect L.ender's rights in the Property(such as a =- .•.:��.T�:
<br /> proceeding in banlQUptcy,probate, for condeennation or forfeitwe or to enforce laws or regiladons),then Lender may do and „�
<br /> ;�:���,
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may _.;�: �
<br /> inctude paying any sums secured by a lien afiic6 has priority over this Security Instzument. appearing in court, paying '_����:_-�•_^
<br /> reasonable attomeys'fess and entering on the Properiy to make repairs.Although Lender may take acdon under tlris paragaph "'�,'�,r�`'.
<br /> 7.Lender does not have to do so. • `�.� `.�`:- �-
<br /> 1 Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this � � ��`�, � q.--� �
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<br /> gecurity Inswment. Unless Bonower and Lender agree ta other terms of payment, these amounu shall beaz interest from the •:.,:,a.y;, .�
<br /> date of disbiusement at the Note rate and shall be payable, with interest. upon nodce from Lender to Boaower requesting , . ..._� �= °"`�
<br /> paymenG ;.'4�i.> —
<br /> S.Mo�tgage Iruurance. If Lender required mortgage insurance as a condition of maltin�the loan secured by ttus Security . �''
<br /> Inswmene, Borrower shall pay the premiums required to maintain We mongage insurance in effea. if. for any reason, [he �
<br /> mongage insurance coverage required by Lender lapses or ceases to he in effect. Borrower shall pay the premiums required to '�
<br /> � obtain coverage substandally equivatent to the mortgage insurance previously in effect,at a coss substantiaily equivalent to the _ , . , ;;_
<br /> cost to Borrower of the mortgage itisurance previously in effect, from an alternate mortgage insurer appmved by Lender. if � � . � _
<br />� substandally 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 being paid by Bonower when the insnrance coverage lapsed or ceased to • �
<br /> be in effect.lxnder wiU accept,use and retain these payments as a loss reserve in lieu of mon�age insurance. Loss reserve
<br /> Form 3028 919 � ' : .
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