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<br /> � 97� 1�2��'� f � .. ::_
<br /> � • 5. Har,ard or Property Insvrance. Barrower shall keep the improvements now existing or he•reafter erected on tHe ` :�T''=
<br /> Praperty insurecl against loss by 5re, hazards iucluded within the term "extended coverage" and any other ba7ards, including •_ � _
<br /> floods or flooding, for wtuch Lender requires insurance.'fhis ins�rance sha11 be maintained in the amounrs and for the periods i �__`
<br /> • that I.ender requires. The insaranre carrier providing the insurance shall be chosen by Borrower subjecc to L.ender's approval • . ` �'
<br /> � wluch shall not be unrrasonably withheld. If Horrower faiLs to maintain coverage descn'bed above, Lender may, at L.ender's E � � �
<br /> option,obtain coverage to pmtect Lender's rights in the Property in accordance with parasraph 7. E ' � ,' �
<br /> All ins�uance policies and renewals shall be acceptable w Lender and shall include a standard martgage clause. Lender � ' . � _�
<br /> • shall have the right to hold the policies and renewals.If L.ender requires,Borrower shall promptly give to T..ender all receipts of � � ' '- .
<br /> paid premiums and renewal notices. In the event of loss,Somower shall give prompt nodce to the inssrance c�rrier and Lender. .
<br /> . : ��
<br /> Lender may make proof of loss if not made pmmpdy by Borrawer. '
<br /> Unless Lender and aorrower atherwis�agree in writing.insivaace pcocxeds shaU be applied to restoradon or repair of the I . . ' �`�
<br /> Praperty damaged.if the resroratinn or repair is econamically feasible and Lender's security is not lessened.lf the restoradon ar i � '
<br /> repair is aot economically feasible or Lender's se�.�urity would be tessened,the insurance proceeds snait be applied to the sums � . . —� • - ;�[:
<br /> ' secured by this Src:urisy Insuument. whether or aot then due, with any excess paid to Borrower. if Borrower abaudons the t ' • ' ,�."'��`
<br /> Property,or does not answer within 30 days a notice from Ixnder tbat the insurance carrier has offered tc settle a claim. then ; , , . r--
<br /> Lender may collect the insurance procceds. Lender may�e the groceeds to repair or restore the Property or to pay sums • , .: �l, :
<br /> secured by this Security Iasuument,whether or not thtn due.Tfie 30-day period will begin when the nntice is given. � , �;T.~r-�:J-±L�h
<br /> ' Unte�s Lender and Borrower othera+ise agree in writing, any applicadon of proceeds to principal shaU not extend or � • , : __
<br /> postpone the due date of the mondily payments referned to ia para�aphs 1 and 2 or change the amonnt of the payments. If nnder k� . , ' ''
<br /> paragraph 21 the Property is acquired by [.ender. Borrocver's right to any insaiance policies and pmceeds resalting from i . '-�-Y „
<br /> � damage w the Property prior w the acquisidon shall pass w Lender to the extent of the sums secnred by this Security 1ns�trument �� • •; . -�,, �.`.�:
<br /> .# immediately prior to the acquisition -_
<br /> ,.;�N-—
<br /> 6.Oavpancy,PreservatIon,Maintenance and Protedton of the Propeity;Borrower's Loan Appllca�ton;Leaseholds. . � ?� -
<br /> Borrower shall occu establisl�,and use the Pro as Borrower's rinci al residence within six da s after the execnrion of � . . �� � � '
<br /> .� PY. t�n9 P P �Y Y . ;� ;1.;�:
<br /> this Security Instromeni and shall continue to occu�py the Property as Borrower's principal residence for at least one year after > i
<br /> thC date of occapancy.wil�:s Lender otherwise agrees in wridng, which consent shall not be unreasonably withheld, or ualess _ - -� �'�'�`� , 4
<br />.�`� extem�ating cim,ums�tances exist wluch are beyond Borrower's control. Bortower shal! not destroy, damage or impair the �_��� `
<br /> Property, allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeidue � , _ ; ���.,' ;�. ____
<br /> action or proceecling.whether civil or crimmal, is begun that in Lender's good faith judgmeut could result in forfeiwre of the •• ; ". j,.•
<br /> Property or otherwise materially impair the lien created by this Security Iastcument or Lender's seturity interest. Bonower may •• ,� '��'.,�`��. � _
<br /> care snch a default and reinstate.as provided in paragraph I8,by caasing the acd o n o r p n nceeding t a b e dismissed with a culing � �• (.�i� % ,
<br /> �"�' -
<br /> tha� in Lender's good faith detecminadon, precludes forfeidue of the Borrower's interest in the Praperty or other material � :.;p,,. ;;� :.
<br /> impaument of the lien created by this Security Inson�ent or Lender's securiry interes� Borrower shall also be in default if * �
<br /> Boaower.during the loan application process.gave materially false ar inaca�rate info�ation or statements to Ixnder(or failed �: I ,� , `it ;. —
<br /> to pmvide Lender with an y material informa6on)in connecdon with the loan evidenced by the Note,including,but not limited `�... . ._�. '' --
<br /> to,repmsentado�concerning Borro��er's occupancy af the Property as a principal residence.If this Seciuity Insmiment is on a ��;`�'" �; ; �
<br /> �� •r,•��—
<br /> leasehold, Borrower shall wmply with all the provisions of the lease. If Horrower acquires fee title w the Property, the .. :4� .
<br /> leasehold and the fee tide shall not merge unless Lender agrees to the merger in vuriting. �~ �.
<br />� 7.ProtectIon of I.rnder's Rights in the Property.If Borrower fails to perform the covenants and agreements coniained in �f . ,�:� ���
<br /> this Secvrity Ins�ent, or there is a legal proceeding that may significantly affect Lender's rights in the Property(sach as a ```�`� '��-�.
<br /> Proceedin in banlaa u ,probate,for condemnadon or forfeidu.°,or to enforce laws or regulations),then Lender ma do asid '���
<br /> g P Y Y .n,.:,; '• "; �_
<br /> pay for whatever is necessaty w protect the value of the Property ancl Lender s rights in the Property. Lender's actions may -'."'��' '�"�'
<br /> inclnde paying any sums secured by a lien wluch has priority over this Security Insuument, appearing in conrt, paying . '�•.'.�`_,, - • ---
<br /> reasonable atwrneys'fees and entering on the Progerty to make repairs.Although Lender may talce action under this paragraph . . _ , -°
<br /> 7,Lendet daes not have to do so. . `" ,`�"".'-
<br /> Any amounts disbuised by Lender under tivs paragraph 7 shall become additional debt of Boaower secured by this '�. 'd'�,����_
<br /> . ,�;
<br /> Security Inshument. Unless Bonower and Lender agree to other tezms of payment.these amounts shall bear interest from the ' ' --""�' —
<br /> date of disbwsement at the Note rate and shall i�e payab2e. with interest. upon nodce from Lender to Borrower requesdng . � , �= W ��- `�"
<br /> Paymen� � �;.�,,, �
<br /> S.M�rtgage Insurance.If Lender required mortgage insurance as a condidon of maldng the loan secured by this Seca�ity �
<br /> Insuament, Borrower shall pay the premiums required to�aintain the mortgage insvrance in effect. If. for any reason. the • • • . � _
<br /> • mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to � � • _
<br /> obtain caverage substantially equivalent to the mortgage insvrance previausly ia effect.at a cost svbstantially equivalent to the .
<br /> cost to Borrower of the mort�age insarance previously in effect. from an altemate mortgage insuret apprwed by Lender. If E . . ,
<br /> sabstantially eqnivalent mortgage iasivance coverage is not available.Bonawer shaU pay to Lender each month a sum equal to � � . '. �
<br /> � one-twelfth of the yearly mortgage insurance pmmium being paid by Borrower when the insura�;ce coverage lapsed or ceased to � . �
<br /> be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurence. Loss teserve I
<br /> � � • �
<br /> form 3028 8190� i �
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