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<br /> 5. Haxurti or Property Insurtutcc. Rurr��wcr tih�ll ke�p thc improvcments now cxtsung un c�rcaflcr eicctcd un thc
<br /> f'rnperty insurcd a�ainst lo�s hy tire, hai�rds includcd within the Icrtn "extcnded coveragc" and any uther haturds, including
<br /> Uuods or flooJinF.(�9r�vhich Lcndcr ra�uires inwrnnrc. This intiurancc tihall lic maintaincd in thc amounts cmd fi�r thc periods
<br /> „�,� thut Lcnder requira. The insurunrc carrier providing thc insuriuicc shall be chosen hy 8orrowcr ,ub�cri cu Lcnd�r'.appruvul
<br /> ` ��= which tihall not bcu�rcasonabty withhcld. If Burrower fails to maintain rovcragc dcscribcd abovc, i.c�ndcr muy. at Lcudcr's
<br /> option,obtai�covera�e to protect L.cnder's rights in the Property in accorJance with paragraph 7.
<br /> -- All insurance policies and renewals shall be acceptable to Lender and shall include u standard mortgage clause. Lender
<br /> ' shall have the righita hold the policies and renewals. If Lender requires,Borrnwer shaU promptly give to L.ender all re�eipts o�F
<br /> , paid p►emiums zmdrenewal notices. In the event of loss, Bc�rro�ver shnll give prompt notice to the insurance carcier and Lender. _
<br /> ,' Lender may ma�F pr�f of loss if not made promptly by 8orrower. -
<br /> "• ' 'r.� Unless Lcnder a�d Borrower othcrwise agree in�vriting, insurnnce proceeds shuU be applied to restoratiun or repair of the
<br /> ' �"�'(�``'��° Prapeny damnged,if the restoration or repair is economically feasible und Lender's securiry is not lacsened. If the restoration oT
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<br /> . �,�r>`.;'� repair is not economically feasiblc or Lender's security would be lessened, the insurance procecds shall 6e applied to the sums _
<br /> � secured by this Sccuriry Instrument, whether or not then due. with any excess paid to Eiorrower. If Borrower ubandans thc _
<br /> • Property, or does not answer within 30 days a noticc from I.ender�hat the insurancc rurrier has offered to settle a claim, then
<br /> , - . Lendr.r muy co[lecl tlhe in�urance prnceeds. L.ender may use the proceeds to repair �r restnrc the Property or to pay sums
<br /> secured by this Sccurity b�strununt. �vhether ur not then duc.The 30•day pe�iad will hegin when the notice is given.
<br /> . . Unlcss l.end¢r and Burrvnvcr �uhcnvisc ngrcc in writinx. .ury upplirutfon uf procccdti tu principul shnll not cxtcnd or
<br /> ., * pu,tponc thc duc J�tc:nf thc inuuthly puymrnt� �•cfcn•cd to in par�igruph+ 1 nnd 2 ur rlu►ngc tl►c iinwunt of Qu puymcntti. If =
<br />��. ,'r�' " �mdcr parngrnph 21 ihc I'ro�krly is urqufrcd by lAndcr, l3orrnwcr'n righttn miy intiurtu►cc�x►Ilcic.r nnd prurrcds rctiulting f'rum
<br /> dnnmgc to�hc I'r��prty priur t��thc urquitiltiun shall p:isti tu I.�ndu►•tu thc cxtcnt id'�hc +umti,4curcd hy thir:Sccurity lnstrumcnt =
<br /> �- • .`.a � innncdiatcly prfuno tlic u«�ulniUun.
<br />_` ��' 6.(kcu{u�ncy�1'r�wcrvwtlon� M1lalntcnancc und Prnt��tl�►n uf th�NmExrty;Ilnrro�►•cr'ti 1.�►an AppllcuUon:I.cuseholds. _.
<br />- � Borrowcr shidl c�ccupy,�stuhli�h,und usc the Propcily as Borrvawcr's primipal rctiidence wilhin sixry days ufter the exccution of
<br />--''",'�" this Security Insttumcnt nnd tilndl continue to occupy the Property as Borrower's prinrip�l residence for:►t Ieast ane year after
<br /> , , ,', •
<br /> '•_�',,;,,:, the d«te of cx:cupancy,unlcss L.cnder otherwise agrees in writing. which conscnt shall nut be unreusonably withhcld, or unles�
<br /> ��...s'•:-- �Yr�nnniin� circunntances exist which are beYOnd Horrower's control. Borro�ver shall noi destroy, dama�e or impair the
<br /> `��r� Pro rt allow the Pro rt to deteriorate, or commit wastc on the Property. Bonower shall be in default if any forfeiture
<br />_''°.�a� ��� P� Y. Pe Y
<br /> ��rr°���' Action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of th�
<br />�-,�.,nw:
<br /> _:�� • Propc:rry or othenvise materially impair the lien created by this Securiry Instrument or Lender's security interest. Horrower may
<br /> •:���---
<br /> ..�,�.�;_� cure such a defaultend reinstate,as provided in paragrnph IS,by causing the action or proceeding to be dismissed with a ruling
<br /> ';;ti��^� that, in Lender'�good faith determination, precludes forfeiture of the Bnrrower's incerest in thc Property or other material
<br /> •w''*Yi� impairment of the lien createci by this 5ecurity Instrument or L.ender's security interest. Bormwer shall also be in default if
<br /> —1i.nl
<br /> ,;:�,���• Bonowee,duringihe loan npplication process,gave materially falseor inaccurate information or stntements to L.ender(or fa�
<br /> `�;a�II'•�� to provide Lenderwith any material information)in connection�vith the loan evidenced by the Note, including, but not limited
<br /> -�t'y`-'z-� to,representationsconcerning Borrawer's occupancy of the Propeny as aprincipAl residence. If this Security Insteument is on a
<br />-=w�=";� leasehold, Borroµ•�r shall comply with aU the provisions of thc lease. If Borrower acquires fee title to the Praperty, the
<br /> —' leasehold and the tce tide shall not merge unless L,ender agrecs to the merger in writing.
<br /> ;_,� � 7.Protectionof Lender's Rights in the Property.If Bnrcower fails to perform the covenru►ts and ngrecments contained'nn
<br /> __:_,� tMs Security InstNment, or there is a legal procecding that►nay significantly affect Lender's rights in the Property (such as a
<br /> ____�� �roceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> - — pay for wh�tever is necessary to protect the value of the Property nnd LendePs rights in the Praperty. Lender's actions may
<br /> � include paying any sums secured by a lien which has priority over this Securiry Instrument, appearing in court, paying
<br />�r=�J" . reasonable attorneys' fees end entering on the Property to maltc repairs.Although Lender muy takc action under this paragrapl�
<br /> __ 7,I.ender dces naihave to do so.
<br /> — Any umounu disbursed by Lender under this paragmph 7 shall bocome additional dcbt of Borro�ver secured by this
<br /> _ __ Secority lnstru►nem. Unless Borcower and Lender a�ree to other terms of payment, these amounts shull beur interest from the
<br /> --- = date of disbucsement at the Note rate and shall be payable. �vieh interest. upon notice from Lender to Bortower requesting
<br /> —� payment.
<br /> --�— S.Mortgsagelnsurance. If Lender required mortgt�ge insurance as a condition of making the loan secured by this Security
<br /> "."� Instrument, Borron•er shAll pay the premiums required to maintain the mongage insurance in effect. If, for any reason, the
<br /> - -- - mortgage insurance coverage required by Lender Inpses or ce:�ses to be in effect,Borrower shall pay the premiums requirecf to
<br /> -••`�;�,��„� obtain covernge substnntislly equivalcnt to the mongage insurence previously in effect, at a cost substantially eyuivalent to the
<br />_:rz�.''•_=�; wst fo Borrowerof the mortgage insurance previously in effect. from an alternate mort�age insurer appruved by Lender. If
<br /> .°<,j'�'_�••- substantially equival�nt mortgage insurnnce coverage is not available, Borrower shall pay to Lender each month A sum equal to
<br /> ;�A':�� ,
<br /> _:�;_�a��Y one-twelfth uf theyearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed vr ceased to
<br /> "�'}�°''' be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortg+�ge insurunce. Loss reserve
<br />_ � '\.'-�•T
<br /> c�,� , Form 3028 9/90
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