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<br /> 97'- aUa9.�� -� ; � � . :.;
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<br /> S.Ha�arrl or Property Insurance. Horrower shall kee�the improvements now exisung or hereaftr.r erected on the Property ; • ���
<br /> insured against loss by fire, hazards included within the tam "eactended coverage" and any other hazards,including floods or " . -�
<br /> tlooding,far wdich Lender requires insural►c.e.This insurance shalt he maintaintd in the amounts and for the periods that Lender F' �`_
<br /> requires.'IT�e insurdnse camer providing thc insurance shall he chosen by Borrower subject to Izc►der's approval which shall not _
<br /> be unr¢asonabty withhe(d. If Boirower fails to maintain coverage described above, L.ender may, at Lendei s option, obtain � :
<br />• coverage w protect Lender's rights in the Property in accordance with paragraph 7. ` , '---
<br /> All iASUrance Qolicies and renewals shal!FZC acxeptable to Lendsr and shall include a standaM mort;age clause. Lender shall
<br /> dave the right to hald the policies and renewals. If I.ender requires,Borrower shall prompdy give to Lender all receipts of paid , .���
<br /> � premiums and renewal nodces.In the event of loss,Borrower shall give pmmpt notice w the insurance cxrrier and Lcnder.L�nder ,
<br /> may make proof of 1oss"sf aot made prompfly by Borrower. � ._
<br /> Unless I.ender and Borrowea otharvrise agee in wridng, �nc�n,nce proceeds shall be applied to reswration or repair of the
<br /> Property damaged,if the restoiation or repaff u economically feasible and Lender's security is not lesseaed.If the restnration or : .
<br /> - r�gzir is not ecoanmi.cally fe�.sil�le or Lender's security woutd be lessened,the insurance proceeds shall be applied to the sums j� „ •
<br /> secure�by this Security Insuument, whether or not then due, with any eaccess paid to Bonower. If Borrower abandans the i . ; - , - �'
<br /> • Propeaty,or does not answer within 30 days a notice from Leader t6at d�e insurance carrier has offered tn seWe a claim,then 4 . ..
<br /> I.end�may collect the insutance proceeds.Lender may use the proce�ds Lo repair or restore the Property or w pay sums secured �� . _. , --
<br /> � by this Security Insuument,whether or not then due.The 30-day periad will begin when the norice is given. _ ��� `
<br /> , Unless Lender and Borrowea otherwise agree in writing,anY applicarion of proceeds tn principal shall not extend or postpone , -
<br /> the due d�te of the monthty payments referred to in paragraphs 1 and 2 or change the amount of the payments.If under parag�aph , � �" • i_-
<br /> • 21 We Pmpe�ty is acquired bY I.end�r,Bonower's right to any insurance policies aad praceeds resulting from damage to the • � � ..�,�
<br /> : Pmpaty prior to the acquisition shall pass to I.ender to the eaieni of the sums secured by this Security Iasuument immediately . • �• ��
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<br /> prior tn the acquisiuon. , � ' - ' ._ ^'' -
<br /> 6.pccupancy,preservation,Maantenance and 1°rofection of the Property; Borrower's Loan Appiicatlon;Leasr6olds. - ���___
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<br /> Barroaea shall occupy,establisl�,and use tfie Propeity as Borrowea's principal resi�e�ce within sixty days after the exec�tion of °� �f :�.,s
<br /> . this Sepvrity Instrument and shall wntinae to occupy ihe Pro�ty as Borrower's principal residence for at leact one year after the •�
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<br /> . date of occupancy. unless Lende.r otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless , •._;,_�r�.: _
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<br /> ' extenuating circumstances exist wfuch are beyond Borrowes's c�ntroL Bonower shall not desuoy,damage or impair We Property, .
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<br /> allow the Propeny to deteriorate,or commit waste on the Pcoperty. Borrower shall he in default if any forfeiwre action or � , -. 4 � , '�
<br /> proceEding,wheihe�civil or cciminal,is begun ehat in 1-eader's gaod faith judgment could result in forfeiwre of the Ptoperty or ...#.v� . ,
<br /> oth�rise materially impair the lieai created by this Security Instrument or Lender's secuiity intecest Borrower may cure such a � . }�_�,,,_ ;, '
<br /> ; default and reinstate,as provided in paragraph l8,by causing the action or proceeding w be disnissed with a ruling that,in � `v . __
<br /> + Lender's good faith determination,precludes forfeiture of the Borrower's interest in the Property or other material impairmeni o f .. - �����, �:�:� . _��
<br /> k the lien created by this Security Insuument or I.ender's security interest Borrower shall aLso be in defanit if Bonower.during the � .;�-.� ;"=�°
<br /> � loan application process,gave matFaially false or inaccurate information or starements to Lender(or faited to provide I.ender with -��C J;
<br /> ; any material info�on) in connecaon with the loan evidenced by the Note, incl�ding, but not limited to. repr�sentations ''�� i.
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<br /> ! conceming Borrower's oce�pancy of thc Property as a principal residence.I f this Security I nsuument is on a lease ho l d,Borrower � �
<br /> � shall comply with all the provisions of the lease.If Borrower acquires fee tifle to tt►e Property.the leasehold and the fee tide shall , . t' r-
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<br /> ._.i not m�rge unless Lender agrees to the merger in writing. . �`- --
<br /> 7.Protettion ot Lender's Rig6ts in tke Properiy. tf Boiruwer fails to perform the covenanis and agreements contained in ���-" �
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<br /> i t�is Security Inst�ument,or there is a legal proceeding that may significandy affeci Lender's rights in the Propecty(such as a • ".����
<br /> proceeding in bankruptcy,probate,for condemnation or forfeiwre or to enforce laws or regulations),then Lendea may do and pay �
<br /> for whatc,wer is nece.ssary to protect the value of the property and Lender's rights in the Property.Lender's actians may include � � ;���:�s"'�--
<br /> paying any sums secured by a lieai which has priority over this Security Inswment, appearing in court,paying reasonable
<br /> attnmeys' fees and entering on the Property to make repairs. Although Lender may tatce acuon ander this paragraph 7,Lender � • ' � ��"'`' _
<br /> � does not t+ave to do so. � � �'�=-'��
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower seeured by th�s Security ' . . '"s""�� �
<br /> Instrument Unless Borrower and I.ender agree to other terms of payment,these amounts shall bear intePest from the date of
<br /> disbursement at the Note rate and shall be payable,with inteaest.upon notice from Lender to Bomower requesting payment : • . .J�
<br /> S.Mortgage Insurance. If Lei►der reqnired mortgage insurance as a condirion of maldng the loan secured by this Security � ��.
<br /> Instrumen� Botrower shall pay the praniums required to mainiain the mortgage insurance in effect, If. for any reason,thc . � . � : �
<br /> mortgage insucance coveiage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required w �
<br /> obtain coverage substantially equivatem to the mortgage insurance previously in effect,at a cost subssantially equivalent ro t�s ' � . , ' ; .,
<br /> cost to Boaower of the mort�age insurance previoasly in effect, from an altemate mortgage insurer approved by Lender. If ': •
<br /> substantially equivatent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to � " -''
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<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrowcr ahen the insurance coveiage lapsed or ceased to � �
<br /> be in effecL Lender will accept,use and retain these payments as a loss reserve in Geu of mortgage insnrance. Loss reserve ' , .
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<br /> , Form 3020 9r90 —_
<br /> �•9R(NE)1e2�2I.o� PBgo 3 01 8 i��uais:
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