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<br /> � 97— lo�z�s � ` ?
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<br /> � 5.Ha7ard or PropPrty Insurance. Borrower shall keep Ihe impruycriier�w::::�..-----»-o nr hPtt:tltPJ CMrtt:A Dtl tI1C Pi011Cf1Y ! ' _�
<br /> tnsured against loss by fice, tia�rds included within the te,rm °extcndod covetage" and any o�er harards, includins flonds ar _
<br /> � flooding.foi which Lender requires insurance.This ins�uance s h a l l b e maintain e d ur t he a m a u n t s a n d!o r t h e periods that Lender I
<br /> •; requires.'Ihe insurance carrier providing the insurance shall be chosen by Borrower subject to L.ender's approval which shalt not Y
<br /> ; be unreasonably withhe(d. If Borrowcr fails to maintain coverage desaibed abovc, Lendcr may. at Lender's option, obtaui
<br /> _� ; wvcrage to pratect i.ender's rights in ihc Pr�rty in�cordasice with paraeraph 7. ; �
<br /> pU insurance policies and renewals shalt be accepiable tn Lender and sLall include a standard mongage clause.Lender shall � t.
<br /> ihave the right to hold the policies and renewals.If L.ender requires,Bonower shall Pmmpfly give[o Lender all receipts of paid �
<br /> � premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to tlie insutance camer and Lender.Lender . < i
<br /> � may make proof of loss if not made prompfly by Boaower. li����on or re of the �
<br /> 1 Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be app' P� ,
<br /> •f r•�.,�;���,��c�r..�i�a or z�is e!�onomically feasible and Lender's security is not lessened.If the resiorarion or . _
<br /> �I repair is not economically feasible or Leader's security would be lessened.the insutance proceeds shall be appGed to the sums - , -.
<br /> I secured by this Security Insuument, whether or not Wea due, with any excess paid to Borrower. If Borrower abandons the ,
<br /> � Propeaty,or does noi answer withu►3U daYs a notice from L.ender diat t6e insur'an�e camer has affered w seule a claim,ihen
<br /> ' I L,enda may collect the insurance proceeds.Lender may use the praceeds ro repair or resiore tlie Property or to paY suzns secured (, . :
<br /> � by this Security I�ssuume�►�,whether or not then due.The 30-day periad will begin when the notice is given. , �.
<br /> � Unless Lendea and Borrower otherwise agree in writing,anY apPlication of proceeds to principal sha11 noL extend or postpone _ p�.�
<br /> ' i the dae date of We monthly payments referred to in Parag�aphs 1 and 2 or change the amount of the payments.If under para�aph ;
<br /> • 21 the Praperty is acquired by Lender. Borrower's right to any insurance policies and proceeds resuiting from damage to the ., ;.
<br /> property prior to the acquisition shall pass tn Lender to the exteut of the sums secared by this Security Instnunent immediately ._ `"'±�T
<br /> ' prior w the acquisition. � _ °��
<br /> ' 6.pccupanty,Preservation,Maintenance and Protectiton of the Propwty; Borrower's Loan Applicadon;O.easehoids. , �' 'S. -
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<br /> � � Borrower shall occupy,establish.and use We Property as Bomower's principal residence within sixty days after the execu6on of .-;�,�t;�
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<br /> '; this gecarity Instrument and shall continue w oscupy the Praperty as Borrower's principal residence for at least one year after the . : . . _,,. ,
<br /> in writing, whicb consent shall not be unreasonably withheld, or unless +. • ;.�; �
<br /> date of occupancy, unless I.ender otherwise a�ees • � . .
<br /> eXtenuatiug cirenmstances exisc w h i c h are beyon d Borrower's c o n t r o l.B o r r o w e r s h a ll n o t d e s t r o y,d a m a g e o r im p a i r the Pro p e n y. . . � ,.�
<br /> � allow the Property w deteriorate,or commit waste on the Property. Borrower shall be in default if any forfeiture actian or . ', ; g; :• �
<br /> • � proceeding,whether civil or c�iminai.is be8un that in 1.ender's good faith judgment cauld result in forfeiture of the Property or �. , E .;�k.
<br /> oth�wise mateaially impair ihe lien created by this Sec�uity Instrument or Lender's security interest.Bomower may cure such a � �
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<br /> default and reinstaLe,as provided in paragcaph IS,by causing the action or proceeding w be dismissed with a niling that, in - .
<br /> • Lender's good faith determination,precludes forfeiaue of the Borrower's interest in the Propesty or other material impairme�►t of . �,;'.
<br /> the Gen created by this Security Insaument or I.ender's security interes�Boirower sha11 also be u�defauit if Bonower,dnring the . ��•-=>..
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<br /> loan app l i c a ti o n p r a c e s s.g a v e m a t e r i a ll y faL�e or inaccurate information or statements w I.ender(or failed to provide I.endea with . • '� ,s; __
<br /> e
<br /> � any material information) in wnnection with the loan evidenced by ihe Note, iacluding, but not limited to. representations I :_j,�_'_,
<br /> conceaning Boaower's occupancy of the Property as a principal residence.If this Security Instrument is on a lea.��hoid,Borrower .. ;.3__
<br /> shall comply with aU the provisions of the lease.If Borrower acquires fee tide tn the Property.the leasehold and the fee atle shaU �s ` '':�' —
<br /> • ,,_,, . .
<br /> . , not me�ge untess Lender agrees to the merger in writing. .,4-d..��r=,-.
<br /> � 7.Pratection o!Lender's Rights!n the Property. If Borrawer fails to perform the covenants and agreements contained in , � �� �-
<br /> this Security Instrument,or there is a legai proceedin8 that may significandy atfect L.ender's righis in ths Froperty (such as a � �.- -.-.-_ - -~� .
<br /> proceeding in banlaaptLy,pmbate,for condemnation or fo r feipue or to enfott�:ee laws or re g u l a tions).then Lendea may do and pay ��.,_ �.•
<br /> � for whatever is ne�essar}�co pmtect the value af ihe Property artd Lender's rights in the Property.Lender's actions may include ��_.
<br /> PaY�B �y sums secured by a lien which has priority over this Security Insaument, appearin8 in caurt.PaNin6 teasonabte ��,��'�""�'�., -
<br /> attomeys' fees and entering on the Property to malce repairs.Although Lender may take acdon under this paragraph 7,Lender .
<br /> ' dces not have w do so. � � ��'
<br /> . My amounts disbursed by L.ender under this paragraph 7 shall become additional debi of Bonower secured by this Secwity • � _
<br /> Instrumen� Unless Borrower and Lender agree no oiher temis of payment,these amounts shall bear interest from the date of � _
<br /> disbursement at the Note rate and shall be payable.with interest,upon notice from I.ender to Borrower requesting paymenL ' . '�
<br /> � 8.Mortgage Iosurance. If Lender required mortgage insivrance as a wndition of making the loan secured by this Security •
<br />� Instnument, Borrower shall pay the premiums required to maintain the mortgage insurance in effecG If, for any reason, the .. _
<br /> mortgage insurance covecage required by Lender lapses or ceaqes to be in effect,Boaower shall pay the premiums required to , _
<br /> . obta'sn coverage substantially equivalcnt to the mortgage ins�uance previously in effect,at a cnst substantially equivalent to the . .
<br /> cost to Borrower of the mortgage insurance previously in effect,from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available.Bonower shall pay to l.ender each month a sum equal w .
<br /> one-tweffth of the yearly mortgage ins�rance premium being paid by Borrower when the insurance coverage lapsed or ceased to . _
<br /> be in effect Lender wiU accept,use and retain these payments as a loss reserve in licu of mortgage insurance. Loss reservc
<br /> Form 30Z8 9/90 i. � _...
<br /> � �-8R(NE)�ezi2i.oi Papa 3 of 8 imuaia: F
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