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<br /> 5. Hazard ur Propertv In�uctxnce. B�•rn�u�r .hall heep the impra�ement� no« rtii.ting ��dercafter rrcxtrd on the ,
<br /> Prc,pert} �n,ured ag3in+! I��,.b} tin. h:ciard. included .��thin thc terni "zrtended �o�rragr" .�nd:uiy utfier h:vard.. inrluding , , , .:1,
<br /> � fl�H�d,��r tl��uding. ti�r which LrnJcr reywre. in,uran�r. Thi. imuranre.hall he maintainrd in the am��unt.and G�r thr perindti ,
<br /> - that Lendcr reyuut�. The in.urance rarrier pr�n�ding the in+urancr �h:�Ii be�hu��n h} Burr���<<r.un�rrt tu Lcndrr'. appro�al < ,
<br /> uhich .h:ill nat br unrc�.,��nabl� unhheld. lt Burro«cr fail. tu m:siutain ��n•eragr dt'xribcYi atx�tie. Lender ma�. at l.ender'� _- - -----_-- _
<br /> uption.��btain rocerage to pmtert L.�nder'+right,in tlie Prupert}• in:�crurdance w�ich psragraph 7. � ���. '
<br /> All iatiurance polirie�and reneualy ,hall he acceptxble to LenJer and �hall inrlude a ,tandard mungag� d:�u,e. Lxnder '" '.' :7. ,
<br /> shall have the right to hold the policie,arxi renewal�. If Lender requires.Borro�rer shall prompd}give tu Lender aU r�:eip[s of .;'.r _.._ ,�. .• . �
<br /> paid premiums and renewal notices.In the event of loss.Borrower shall eive prompt notice to the insurance carrier and Lender. y.;��,�,;�,i�,�;Q;,_
<br />:. Lender may make proof of loss if not made prumptly by Borruwer. �....�� .
<br /> Unless Lender and Borrotver otherwise agree in wridng.insurance proceeds shall be applied to restoration or repair of the �w, ._
<br /> property cianuzged,if the restoration or repair is economically feasible and Lender's security i+not lessened.If the restoration or '` ,.� .`�';���.:-�
<br /> repair in not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied ta the sums �.,<,_�•�•.. �'
<br /> secured by this Security Instruirsent, whether or not then due. with any eacess paid to Borrower. If Borrower abandons the - '',�t���+'-"`�
<br /> Property,or does not answer within 30 days a nodce from Lender that the insurance carrier has affered to settle a claim,then •��•y�r��:�'�
<br /> •� Lender may collect the insurance praceeds. L,ender may use the procxeds to repair or restore the Property or ta pay sums • „..�-.
<br /> secured 6y this Security Instrument,whether or not then due.The 30-day period will begin when the notice is given. ' .�,'�_;�:,� ::�;
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or `_.;��. ..�,� _
<br /> . � .,
<br /> . postpone the due date of the monthly paymentc referred to in paragraphs I and 2 or change the amount of the payments_ If �' ���..� -
<br />, under paragraph 21 the Property is acquired by L.ender, Borrower's right to any insurance policies and proceeds resulung from : --=--��:' _ :�: -
<br /> ' damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secuied by this Security Instrument '• ���
<br /> � �.._:
<br /> . immediately prior to the acquisition. � ',
<br /> 6.Occupancy, Preservarion,btaintenance and Protection of the Property: Sorrower's Loan Applicat�on;Leaseholdc. �'``i" "_
<br /> �' Borrower shall occupy.establish,and use the Property as Borrower's principal residence within siaty days after the execution of ' - ;-
<br /> this Secvrity Insuument and shal l cnntinue to occupy the Property as Borrawer's principal residence for at teast one year after `� �`!^s �.;. s�c—•-
<br /> ���� •; �
<br /> the date of occupancy,unless Lender othenvise agrees in writing, w hic h consen t s h a l l n o t b e u n r e a s o n a b l y w i t h h e l d, o r u n l e s s ,�s; �, . _
<br /> � extenuating circumstances exist which are beyand Borrower's contml. Borrower shall not destroy, damage or impair the ;`�x•" . r� �' -.
<br /> � Properry. allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeiture , _ :' } , :��. :.•:�!
<br /> ' action or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the ;�•.�.,•��;.,. . ,,.
<br /> Pro erty or othenvise materially impair the lien created by this Security Instrument or L.ender's security interest.Borrower may -�i ';����'��,
<br /> P
<br /> cure such a default and reinstate, as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling .�... ��
<br /> ` that, in Lender's gaad faith determination, precludes forfeiture of the Borrowcr's interest in the Property or other material .t4:.���'��t�,� �-
<br /> ..• `,� r�e . . ':' ��e+• ': '—
<br /> ` impaitment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if , ,� , j�
<br /> � Borrower.during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed 4• �•� : '� •-���.•.,•�.� -
<br /> � . to provide Lender with any material information)in connection with the loan evidenced by the Note,including,but not limited ,�' �,�-`=__'
<br /> to,representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a U .��.-�_°.°-=
<br /> '!!l�r.':'.�'�:�.'
<br /> leasehotd. Borrower shall comply with all the provisions of the le�ase. [f Borrower acquires fee title to the Property. the .
<br /> leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. -_�--� __--
<br /> 7.Protedlon of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreements wntained in [.'---� __._
<br /> this Security Instrument, ar there is a lega!proceeding that may signific;andy affect I.ender's rights in the Property (such as a
<br /> . � proceeding in bankruptcy,probate,for condemnation or fadeiture or to enforce laws or mgulatians),then l.ender may do and ��3;'
<br /> P.
<br /> �`��'_'_ .—
<br /> pay for whatever is necessary to ptotect the value of the Property and Lender's rights in the Property. l.endei s actions may ����#
<br /> include paying any sums secured by a lien which has priority over this Security instrument, appearing in court. paying ;��r_
<br /> to make re ain. Althou h Lender may take action under this paragraph � .,�--'` � T " tl„o,
<br /> reasonable attomeys'fees and entering on the Properry p 8 __
<br /> . 7.Lender does not have to do so. � ' —
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this '�"►} ,��+,.��
<br /> ' Security Instrument. Unless Borrower and l.ender agree ta other terms of payment,these amoun�s shall bear interest from the _ ,;�4 ; •�
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesiing _.,�
<br /> .. : payment. - �
<br /> • S.Mortgage Insurance. If I.ender required mortgage insurance a�a condition of making the loan secured by this Security f �,1';: �
<br />� ' � Instrument. Borrower shall pay the premiums requircd to maintain the mortgage insurance in effect. If, for any reason. the `� ��...,�
<br /> ' , mortgage insurance coverage required by l.ender lapses or ceases to be in effect. Borrower shall pay the premiums required to . . .
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivatent to the -�t:,-.,� ��•:F'
<br /> cost to Bonower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by l.ender. lf • ""Y'`�`="� `�
<br /> substantiaUy equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a swn eyual to , • e
<br /> . ' one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to • '
<br /> �.�L-_
<br /> _ be in effect. Lender will accepi.ute and retain these payments ac a loss reserve in lieu of mortgage insurance. Loss teserve —. �
<br /> � Form 3028 9190 ' � —•-
<br /> iva90 3 0l 6 •..i,r..-_s:••,
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