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<br /> 5.Ha7ard or Property Insurance. Bo:rower shall keep the improvements now exisdng or heaeafter erected on the�coperty I � . .. :' `
<br />� ins�red against loss by fffe,harards included withizi the term "e�ctanded wverage"aad any oiher hazards,includ'mg floods or � . . � ��,_�
<br />� tIooding,for wluch I.tnder requires insurance•This insuiance shall be ma�ntau►ed m the amounts and for the geriods that Lender _
<br /> ` requires.'Ihe insurance carrier providing the;•��,*�nce shall be chosea by Borrower sub,�ect to L.endex's approval which shall not � . -. .. . •• --
<br /> t �.� ..�._
<br /> be unreasonabiy withheld. If Boirower fails to maintam covetage descn'bed above. I.endet may, at I.euder's option, obtain {, : -
<br /> � coverage W protect Lender's rights in the Property in accordance with p�agraph 7. ' . _�--
<br /> qll;nsurance policies and renewaLs shall be acceptable to I.ende+r and shall include a standard mortgage clause.Lender shall � . �
<br /> - 6ave the right to hold the poliaes and renewals.If Leader requires,Borroaer shall prompdy give to L�.mder all receipts of paid � �
<br /> ; premiums and renewal notices.In fie event of loss,BorsowPS shall 8ive prflmpt notice ro the insurance carrier and Lendcr.I.ender l . `. —_---_--.---_- ..
<br /> may make proof of loss if not made prompdy by Borrower. f• �
<br /> Unless Lende�and Borrower otherwise agree in writing,irsurance praceeds shall be applied to restnrstion or repair of thc 4 ;."�
<br /> property damaged,if the mstnrarion ar repair is cconomically fcasible and i�nder's sccurity is not lessened.If the restorution or Y .;.,.
<br /> repair is not economically feasil�le or Lender's se�urity would be lesser�ed.the ins�uance proceeds shall be apylied to the sums �. .._:._ :�''`�`' ` -
<br /> i `
<br /> .r,,.-.'�`,'.1�._�`.�:. —�
<br /> secured by this Se�iuiry lnstnunent,a+hether or not then due. wit�any excess paid to Harrower. li Borrower abandons the • , _
<br /> • Pro�erty.or daes noi answer within 30 days a notice fmm Lerider that the insurance carrier has offered ta settle a claim,then ' :��`:�:,
<br /> Lender may caliect the insurance pracee�s•Lender may use the praceeds ro repair or restore the Pcoperty or:o pay sums r,ecured
<br /> by this Security Insuument,whether or not then due.'Ihe 30-day period w�l1 begin when the notice is givcn. .` ',- . _ ;
<br /> Unl�ss Lender and Bormwer otherwise agree in writing.any application of pracccds to principal shall not eatcnd or postpanc . �-.1'�,_„�_ _F__:
<br /> . the duc date of the monthly payenenrs referred to in paragrnphs 1 and 2 or change the amount of the payments.If undcr paragraph ' ��.`_•• .�Q :;"�''
<br /> ' 21 the Propetty is acqulred by Lender. Borrawer's right Eo any insurance policies and praceeds resulting from damage w the . ;-� __
<br /> ° �P�Y P�r to the acquisition shaU pass to I.ender oo the eatent of the sums secured by th'ss Securiry Instrument iuunediately � '" ��°� ,.
<br /> ,-{r4Y '
<br /> � prior w the acquisition. .. '
<br /> � 6.Oowpancy,Pceservatioa,119atotenAace und Prolectio�of the PropertYi Borrowe�'s Loan Appikattoa;Leaseholds. �:�,°,����=`,°�_„",."
<br /> Barrower shall occupy,establish,and use the Aropeny as Borroaer's principal residence within suty days after the eacecutiun of "� �• °...� ::.
<br /> this Securiry Instcument and s6a11 continus to occupy the Property as Bomower's principal residence for at least one year after d:e ���
<br /> ���• date of occupancy, unless Lendea otherwise agcees in wriang, wtuch consent st�all not be unreasonably withheld, or unless -�;�' �, .g��--
<br /> • extenuatin ciraunstances exist which are beyond Borrower'S COAlIOI.HOIIOWfi S}13U AOL Q�SL[O}r,damage or impair the Praperty ��'�
<br /> 8 '
<br /> - allow u'�e Froperty to detcaiorate,ar comnsit wasts on the Prog�ty.Borrower shall be in default if any fort'eiwre action or : ; -,.����.,��.�.:,� �. -_.
<br /> � proceeding,whetha civil or criminal,is isegun that in Lender's good faith judgment co�ild result in forfeiture of the Propeny or . . . ' -. ' ';., , � !:`��'
<br /> atherwise mateaiallY impair the&en aeated by this Security Ins�trument or L.�der's secauity interest.Borrower may cure such a " '' .- --
<br /> default and reu►state,as provided in paragiaph 18,by causiag the ac6oa�or proceeding w be dismissed witb a r a l u ig t h a t.in . �.;� . • --
<br /> Ler�d�'s goad faith detraminadon,Precludes forfeiuue of�e Bonower's interest in the F�operty or other marerial impairment of _,-:_`_ : . �`=':
<br /> the lien created by tLis Securiry Insuumeat or L.ender's security interest Borrower shall also be in default if Borrower,during the :: ; r..
<br /> loan applicarion process,ggve materially false or inaccutate infom�ation oi statements to Lender(ar failed w provide Lender with , '�
<br /> any ma�rial iafoimation) in co�ection with tha loan evidenced by the Note, including, but not limited w, representanions ' =�,�. �� _
<br /> -�s�: ..' 6 ' •. . .
<br /> conceming Boaowea's occupancy of the Propeaty as a principal resdence.If this Security Instrument is on a teasehold,Borrowea . ,�� .. �,
<br />�� sfiall comply with all t�e provisions af the lease.If Bornnwer acqwQes fee dtle w the Property,the leasehold and the fee title shall _ ._ �-• . ��,; � .�
<br /> not merge unlesg Lend�agte�s to the merger in writing. . ;;:"-.." ;,t��....; -
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<br /> 7.Psutecbton ot Lender's Rigsts in the Praperty. If Boaower faiLs to perform the covenants and agreemenis contained in
<br />' ihis Secauity lnstrumeat,or there is a legal proceeding that may significandy affect I.eader's rights in the Propeny(such as a .�'�::,' ,����,
<br /> ' ,:• »•.
<br /> pmceeding in banlauptcy,pmbate,for condemnaaon or forfeiwre or to enforce laws or regulations),then Lender may do and pay ,� �.�,�,,.,�=
<br /> for whatev�is necessary to protect the value of the Property and Lender's rights ia the Propeaty.Lender's acdons may inctude : ����
<br /> PaY�B �►Y sums secured by a fien which has priority over this Secarity Iasuument,appearin8 in covrt, PaYmB reasonable � ": .;+;—
<br /> ���fY
<br /> a�omeys' fees and enteting on�a Property to make repairs.Although Lender may take action under this patag�aph'�,Lender ;',•.- ���'
<br /> does not have w do so. � •Afi'.'+��
<br />, My amounts disbursed by Lend�under this par2giaph 7 shall become additional debt of Borrower secured by this Secwiry :�`.",�.,, ----�—
<br /> a
<br /> InstnunenG Unless Borrow�and Lercder agree to oth�r tenns of payment,these amounts shall bear inteaest from the dat,e of � �:�� �`����_
<br />. � disbursement at the Note rate and shall be payable,vrith inteaes�upon notice from Lender tn Bonower requestin8 payment _ __::,}�,�
<br /> S.�gDa a �t n__.:...
<br /> rtgstge lnsarance. if L.enQer reguired mongage insa:rance as a wnaliuon vi maaing ine iunu�c�:u.cu uy�„s�a,�;,�.y �a; ...'�;...��._
<br /> Instrum�L Botrower shall paW �he premiums required to ma�ntain the mortgage ins�nce in effect If, for any reason, the ,. '•�_.,. : .,: : �.-;
<br /> mortgage insurance coverag�required by Lendea lapses or ceases to be in effect,Borrower shall pay the premiums required to •�. �
<br /> ea
<br /> obtain covaage s^.�srantialty equiwalent to the mortgage insurance prc.wiously in effect,at a wst substantially equivalent w the • . ^- �'�:�
<br />� cost to Bolrowea c�the mortg�ge insurance previously in effect, from an altemat� mortgage insurer approved by Lenda.If . . —
<br /> substantially equivalent mortgage�nc�**ance wverage is not available,Borrowea shaU pay to Lender each month a sum equa]to - • : . �
<br /> on�twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurauce coverage tapsed or ceased to . . .
<br /> be in effect I.ende,r will accept,use and retain these payments as a tass reserve in lieu of mortgage insurance.Loss reserve �:Y��:
<br /> Form 3028 9190 � �� ���,�.
<br /> ��BR(H�(Y�t2).Ot vuye3o18 inUiNs: � � � • .
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