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<br /> ., 5. Hnrurd or Pro�xiiy I�ssurancc. liorrowrr shull kcep �hc inipnwcuunt� no�v cxititing ur h�rr.d'tcr crcctcd cin tiic �i;:`
<br /> Yroperty in,urrd again�t IuS, by firc, har,irds induacd wilhin Ih:: tcrm "r!cttndcd cuvcr:igc" and any uthcr ha�ards, including
<br /> . " tlood�ur ilualio�. Grc�vhich L.c��dci� r�Nuirc+in,uraiuc. Thi� intiurancc tihall bc ntaintained in ih� uni„unt�an�l for thc ps:rinds �► .
<br /> .;'••���"+� ►ha� l.�ndrr rcqui�c�. Tiu iu+uranrc rarricr pruvidin�th� in+ur;mcc shall bc cho,cn hy B+�r�o�vcr tiubjcrt tu l.rndcr's approv:d �
<br /> . ��hicli +h,ill nut 1•� urrutyun;thly withhcl�i. lf Norruwcr ii�ils tu maint.�iiti covcragc d�s�:ribcd a6uvc. l.cndcr may. at l,c;ndcr's ��
<br /> ap�ion.obtain cuvcragc ti�protcct Lendcr's rights in thc Pru�xrty in accordancc with paru�;raph 7. �-
<br /> All in,urancc palicic.r and re�tct�als +liall b�::icccptahlc to I.cndcr and ,hall ����iva�� ,���,a:ud nturtgage dausc. Lcndcr �
<br /> ,liall havc thc right to holJ thc pulicics and rencwal,. If Lcndcr rc��uircti. Bi�rrowcr+hall prumpdy �;ivc to I.cndcr all reccipts of �`
<br /> , paid prcmiums and�rnrwal nutir�a. Tn the event of loss, Borro�+•cr+htdl givc prontpt�wticc t�� �hc insurancc ru r r i c r u n d[.�;n d c r. �=-
<br /> '� l.ender muy makc proof of loss if not madc promptly by 13orron�e�•. _
<br /> Unless Lend��and{3orro«�er otlierwisc agree in writing, insunnce praceeds shnll be applied to resturation ar repair of the
<br /> . Propeny damaged, ,f the restorati��n or repair i,ccun�m�ically fcasible and Lender's security is not Iessened. If the restoration or `
<br /> rcpair is nat economically feasible or[.ender'ti �ccurity wauld be Iesscned, the insurancc prorccds shull be upplied ro tha sums _
<br /> ., � sccured by this Security Insttutncnt, whether or not then duc, with any c:uess p�id to Burro�ver. If Burmwer abandons the —.
<br /> ` � Pmperry, or does not answer within 30 duys a naticc(rom LAndcr that thc insurance rarricr has offered ta setde.�claim. lhen --
<br /> ` " Lcnder m�y r��llect the inauruncc pmcecds. Lender may usc the procccds to repair or restorc ttic Fruperty or to pay sums _
<br /> . secured by this Security lnstrument,whether or not then due. The 30-day period�vill begin when the notece is given. -
<br /> ° � ' ' Unless Lender and Borro�+•er othenvis� agree in writing, any application of proceeds tu principal shall not extcnd or
<br />_T- .•� .�.;�• postpone the duc date of thc monthly payntcnts referred w in paragraphs 1 and 2 or changc Ihe amount of the payments. If �t.
<br /> under paragraph 21 the Propeny is acquireJ by l.ender. Borrou•cr's right tu any insurance policies an�l pmceeds resulting from y
<br />— •'P • damage ta the Property pri�r to the acquisition shall pass to l.ender ro the extent of the s�ms secured by tn�s Security Instrument ��°`-
<br /> _ • imm�;1°.atcly prior to the acquisition. —
<br /> - �' . o.Occupuncy,Preservntion,lbl�intenunce nnd Protection i►f!he PropeHy; Borro�ser's l,oun Agplication;Leassholds.
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<br /> - Borrower shall occupy,establish,and use the Property as Borrow�r's principal residence within sixty days after thc execution of =
<br /> - ''"` �. ';r this Security Instrument and shall continue to occupy the Property as Dorrower'; principal residence for at Irast one year nfter _
<br /> '�.,;�;;1;r, ;. [h��ute af occupancy, unless Lender othenvise agrces in�vriting,which consent shall not be unreasonably wi[hheld,or unless
<br /> ����'�s�'�y-`:` extcnuating circumstances exist �vhich are beyottd Borro�vers controi. $orrower �i�:�i twi ucSli:�j%. uflii.3bC a: ;m�i: ili=
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<br /> f<.: �_-.,:,,s.; :, Pruper[y, allow the Property to dcteriuratc, or commit w,-tstc on the Propeny. Bonower shall be in default if any forfeiture
<br />-'�.;;;;.::,.::� ' action or proceeding, whether civil or eriminal,is begun that in Lcnder's Food faith judgmentcould result in forfeiture of the
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<br /> ='�.��;�¢,: Property or othenvise materially impair tho lien creuted by this Security Instrument or l.ender's security interest. onower may
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<br />�;,,;.��'.� cure such a detault and reinstate.as provided in paragraph 18,by causing the action or preceeding to be dismissed with a sui ng
<br />- ::j;��"�%'� that, ln Lender's good fuith dcacrrnination, precludes forfeitun; of the Borrower's interest in the Property or othee material
<br /> -�-����� impainnent of the lien created by thls Security Instrument or Le:nder's security interest. Burrower sball also be +n drf:�ulc if
<br /> —_-� _"���' Borrower,during the loan application pracess,gave materially false or inaccurate informatian or statements ta L.ender(or faited
<br /> =;;y:�.�,, to provide Lender wit��any material information)in connection with the loan evidenced by the Note,including,but not limited
<br /> �_��°� ta, representations concerning Borrower's occupancy of the Propeny as u principal residence. If t�is Securiry Instrument is on a
<br /> -_��,�„� . leasehnld. Horrower shall coniply with aU the provisions of the Icase. If Bonower acquires fee title ro the Property, the
<br /> ------ Icasehold and thc fee titic shall not merge unless C.endcr agrees to the mcrger in writing.
<br /> ___= s 7.Protectton oP Lender's Righs i���fie Property. If Borcowcr fails ta perform the covenants and ngreements�ontained in
<br /> '�� -"-- this Seeurity Instiument, or there,is a legal proceeciing tBat may signific:untly affect Lender's rights in she Property(such as a
<br /> - -- proceeding in bankniptcy, prabatc, for condcmnation or k'orfeiturc or to enfurce laws or rcgulati�ns), then I.ender may do and
<br /> — "� pay for whatcver ie necessary to protect the value of the Property and Lender's rights in the Praperty. Lender's aciions may
<br /> --�"`�`� include paying any sums secured �by a lien which has priority over this Securiry lnsuument, appearing in court, paying
<br /> — - -___ rca.sonablc uttorneys'Yces and entering on the Propcny to mxke n�pairs. Although Lender may cakc action under this paragraph ---
<br /> ----- - _ 7,Lender docs not hati�e to do so.
<br /> � Any a►nounts disburse�i by Lender under this paragr�ph 7 shall become additional debt of�Iotrower secured by this
<br /> =�=��� 5ecurity Instrument. Unless Bon•ower and Lender agrce to other terms of payment, thc;se arnounts shAll bear interest from the
<br /> "�"�""— date of disbursement at tlie Notc rate and shall be payable.,with intcrest, upon notice fr�m Lender to l3orrower requcsting
<br /> :-__„��.� , paymcnt.
<br /> --:�� S.Mortgage Insurance.If I.endcr rcquired mongage insurance as a condition of making the lonn secured by this Secueity
<br /> ������ lnstrument, tiorro�ver shall pay the p�emiums reyuirru tu ���ai��tair� t�e rrioKgagc insur;u�c�in $ffext. If, for an; m�sou, the.. _
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<br /> "�°��wa�;� mort a e insurunce covera e r uired b Lender la ses or ceases to be in effect. Borra�wer shall pay the premiums required to
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<br /> �,�;_._;,,;,�; obtain covcrage substantially equivalent to thc mortgage insurancc previously in cffect, at a cost substantially equivalent to the
<br /> -"'`.''. �. ,: cost to Borrower of the mortguge insurancc previously in effcct, from an tilternatc mortgage insurer approved by i.cndcr. If
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<br /> `�'=-::r::a`c'�.' substantially equivalent mortgage insumnce covecage is not uvailable.Borro�ver shall pay to Lender each month a sum equ.31 ro =
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<br /> �^����'>';�� � ono-nvelfth of the yearly monga�e insurance pxemium being paid by Borcoever when the insurance co�erage lapsed or ceased to �
<br /> � '�'� be an eifect. i.ender will accept, use and retnin these payments as a loss reserve in lieu of mortgage insurance. Lnss reserve
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<br /> �"'��'. Form 3028 9/90
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