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<br /> 97- i����9 . . . .�
<br /> . kee the im ro�•emenu now existing or hereat'ter erected un the �.c` .� � c°�
<br /> 5. I d a�a r d or �r o p e r c} I t u u r a n c e. B o r r o��•e r �h a l l p P _ • = =
<br /> Propert}• in�ured szainst loss b}� fire. h:�zardti includeci �vithin the term "extended roverage" and:uiy o t her hazar d�. i n c l u d i n g ' F�-
<br /> flood�ur Slaading. for N•hich Lender requires insurance. Thi�ir�suranre shall be maintained in the amonnt,and for[he periuds ��
<br /> •- that [.ender reyuire�.The imurance�:errier providing the insurance shall be chosen by� Borrower Subjctit tu Lender',appro��a� ; : ��
<br /> whirh ,hall nut be unrr..isonably withheld. If Borrow�er fails to maintain coverage descnbed ab�ve. Lender map. at Lzncier's � t `. _
<br /> - option,ubtain coverage to protect Lender'�righU in the Property�n a�corddnce�w'th p;,raiPrdPhtandard mortgage clau�e. Lender � � � .
<br /> '_ All in�urance policic�s and renewals sha'si or aucp��« <� ���.�-. w.- ....... ,:...� --
<br />; shall ha�e the right to hotd the pulicies�e e�e t o loss,Borro ershall gB e prompthnotice�the nsurance cnarr�er`and 1-ende i �` . ' � ; --
<br /> paid premiums and renewal notices. in .
<br /> Lender may make proof of loss if not made promptly by Bacrower. .. 'T
<br /> • Unles�Ixnder and Borrower otherwise agree in w-riting,insurance procee�i,shall be applied ta rc�toration or repair of the •,," • _ , _
<br /> Property damaged,if the restoration or repair is economically fe�asible and Lender's security is not lesserted. If d�e restoration or _ _
<br /> repair is not economically feasible or Lender'�se�:urity would be lessened.the insurance proceeds shall be:�pplied to the sums ,�t ;
<br /> secured by thi� 5ecurity Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the � •, '�-
<br /> . Propeny. ur doe�not dns«�er within 30 days a notice from Lender chat the insurance carrier bas offered to seitle a claim, then :�� �:..�t,;�
<br /> Lender may cullect the insurance proceeds. L.ender may use the procceds to repair or restore the Property or to pay sums ` ;'�,:�
<br /> +ecured by this Security Instrument.whether or not then due.The 30-day period will begin when the notice is given. . -��,,o.
<br /> Unless Lender and Borrower otherwise agree in writing. any application uf proceeds to principal shall not extend or : �'•
<br /> '. �i'�='4?�
<br />,, postpone the due date of the monthly payments referred to in pangraphs I a�d ? or change the amount of the payments. If � X���x
<br /> under paragraph 2I ehe Property i,acyuired bc LenSer. Borrower'i nght to any insurance policies and proceeds resutting from � �`. ,� 2
<br /> dama e to the Propetty prior to the acquisition,hall pass to I..ender tu the extent of the sums secured by thi+Seuurity Instrument ^''�°=
<br /> g ,f•�,-.--.. ___
<br /> immediately prior to the acquisition. 7'- °�:
<br /> 6.Orcupancy,Pc�;ervation, hlaintenance and Protection of the PropertY+Borroa�er's Loan Application:Leaseholds. �4.�
<br /> '` Borro�ver shalt occupy. establish.and use the Property as Borrower's principal residence within sixty days after the execution of ,��
<br /> this Security In�tn►ment and shall continue to occupy the Property a, Horrower's principal residence for at letts[one year after - _-
<br /> the date of occupancy, unless Lender otherwise agrees in writir�g, which consent shall not be unreasonably withheld, or unless `-
<br /> � '�•..
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower �hall not destroy, damage or impair Ihe : :'
<br /> Property. allow the Property to deteriorate, or commit waste on the Property. Bonower shall be in default if any forfeiture �:;' ,.Y
<br /> action or proceeding. whether civil or criminal. is begun that in Lender's good faith judgment could result in forfeiture of the ,`-v -
<br /> Property Rr otherwise matenally impair the lien created by this Security Instrument or Lxndet's security interest.Borrower maY -��.:,. ', l,,.,�;
<br /> rovided in ara ra h 18,b causin the action or proceeding to be dismissed with a ruling ,:K.,;_:, - _
<br /> � cure such a default and reiatitate,as p P g P Y g —
<br /> •w,...��.: •
<br /> �;..;�:.: r'��
<br /> that. in Lender's good faith determination. precludes forfeiture of the Borrawer's interest in the Property or other material ,�H J-`� _- .�
<br /> � impairment of[he lien created by this Security Instrument or Lender's security in[erest. Borrower shall also be in default if . L
<br /> �`��.""�`�;; :..
<br /> Borrower,during the loan application process.gave materially false or inaccurate information or statemen[�s to l.ender(or failed .�.' .
<br /> to provide Lender with any material information)in connec[ion with the loan evidenced by the Note. including,but not limited � .•
<br /> �� :
<br /> _ to,representations coaceming Borrower's occupancy of[he Proper[y as a principal residence. If this Security Tnstnunent is an a ',;, } .`j i
<br /> �„ . leasehold..Borrower shall comply with all the provisions of the lease. If Borrower acquireti fee title to the Propeny. lhe =�`«_-
<br /> leasehold and[he feE title shall not mer�e unlcss Lender agrees to the merger in writing. �
<br />� 7.Protection of Lender's Rights in the Property.If Borrower fail+to perform the covenants and agreements contained in � ����°" '
<br /> � this Security instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Property (such ac a ;„ ._.�.-
<br /> ' : • praceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations),then L.ender may do and , . .
<br />� . pay for whate�er is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may ,r�,,�,...;_
<br /> ., include paying any sums secured by a lien which has priority over this Security Instrament, appearing in court. paying :.> `.:.--- � ,.AT
<br /> reasonable anomeys' fees and entering on the Pmperty to make repairs. Although Lender may take action under this paragraph � ..���:�=
<br /> �s ---
<br /> . • 7,Lcmder does not have to do so. ����'"^^� �
<br /> - ,• Any amaun[s disbursed by Lender under this paragraph 7 shall become addilional debt of Borrower secured by this ��,_:..;:..-_
<br /> Security Instrument. Unle�cs Borrower and Lendcr agree to other terms of payment. these amounts shall bear interest from the ,,r,�;.____..
<br /> date of disbursement at the Note ratc and shall be payable, with intcrest, upon notice from Lender to Borrower requcsting .--�-.
<br /> payment. . .°. . ,r.
<br /> S. Mortgage Insurattce.(f Lender required moRgage insurance ati a condition of making the loan secured by this Security �;': _. '. '�,:.i_ �
<br /> Ins t r u m e n t. B o rrower shall pa y the premiums required w mait►tain thc mortgage insurance in effect. If. for any reason, the �,_v;;.��, _.:_
<br /> . mortgage insnrance coverage required by Lender lapses or ceases tu be in effect.Borrower sha l i pay t he premiums r e q u i r e d t o :,�,,. ,.�;�-.�.,:,,;; _
<br /> obtain coverage substantially eyuivalent ta the mortgage insurance previously in effect,at a cost substantially equivalent to the :�_,.',,�'�.',�.:��;,r .',;
<br /> =t:;,
<br /> ' cost to Borrower of the mortgage insurance previously in effect. from an altemate mortgage imurer approved by Lender. If �:Rµ}_�`� •-.-
<br />� ' ' substantially equivalent mortgage insurance coverage is not available.Borrower.rhall pay to Lender each month a�um equal to ; _� -_-
<br /> �� � • one-twelfth of the yearly mortgage insurance premium being paid by Borrawer when the insurance coverage lapsed or ceased to ' 3
<br /> - be in effect.Lender will accePt. use and retain these payments as a lo�ti rescrve in lieu of morigage insurance. Loss reserve � �.�.;�� ;.
<br /> Form 3028 9/90 '
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