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<br /> S. IG�xwrd ur Property lm+�ranr•e• �Qrrower eh�ll keep �ho Improvemente aaw exiscinR or hnrcattcr erectecl on thc
<br /> Property Insurccl again�t 1c►95 by firn, harards imluded within the term "extendad caver�ge" am1 any o[ltar ha�rds, �ncludin��
<br /> fl�d�or ttcxxting,fnr which l.endc�requltrs int��`���•'����nsuranco shall bc maitttained in�ho umounta und for the periad '
<br /> th�t l.cndcr require�. 'The insurinsc ca�rler prqvidinK ihe insuranca shall be ch�i:�n by Borrower sub,�ect to L.ender's appmv�l
<br /> whic.h shall not be unreuonably withhrl�l. If Hc�rrower fa�is to mwintaln coverage descrfhal above, L.ender may, at l.eixler'��'•
<br /> optfc�n.obtain coverage ta prntect Lender's r+�hlF�n the Pro�erty in uccordanca wlth paragraph 7.
<br /> All Insurince�mllelea a�d rencw�ls aha11 be accepubic to l.cnder and ehall inclucio a standnrd m�mgage clnuu. Lender
<br /> shall i�avo tl�c right ta halc!tha poltGics ntttl rc��rwa.ls. If Lender requires,Borrower shull promptly givo to Lender all rtceipta of {
<br /> �!�Id promlums atxl rcnewal notir�es. In thn evrmt af loss,Aorrowcr shall give prompt n�tico w tho insuraacc carric�and Irender.
<br /> Lcndcr may m�kc prc�of of I�ss if not mada pm►notly by Borrowcr.
<br /> Unless Lender and Bc►rcowec othcrwlsA a�rcc in writing,insuruice proce�d�s shull be a{�pliecl to restoration or repair of ehe
<br /> Propeny darna�ed,if the rest�raticm ar rapRir ix cconomically fea�ib(e anrf U:ndar's security is nat lessened.If tha rescaration or
<br /> rcpAir is nat economically fe�sibla or Lendr.r's becurity would b�lessenwci. thn InEUrance proc�eds shuU ba applicd to th�sum�
<br /> securcd by thls Sccurity Inscniment, whcthrr or not chcn due, with any cxccss pnid to &�rrower_ (f Bonrower abandans tha
<br /> Propeny,or dc�es nat answer wlthin 3t1 d�ys u nacice from l.ender that thn lnsunnce cnrrier has offorad �o settle a cluim, then
<br /> Lendcr may collat thc lnsur.�nce pr�x�dc, l,endcr may use the prucads to rcpnir or reamre tho Pmpcny or to pny sums
<br /> secured by thls Saurity Instn►rtxnt,whHhet or not then due,Th�30-day pariw.i will I�t:gin whcn thc noti�c is given.
<br /> Unlcss Lcnder and Bnrmwer atht:nuise Agrec in writing. any ap�licntion of proceecls [o prinr.ip�l shall nat eatend or
<br /> F:,st�,:.aa ct;a dae d:.�e of the monthl;� nAyrnentc referred to in paragr�phs 1 and 2 or change the artxiunt of tho pnymoncs. If
<br /> under paragnph 21 cho Praperty is aaquirc:d by Lender,Bortowcr s right to any insurancc�o1lsEcs�nd proceeda resuictng ic�om
<br /> dam�go t�tha Property priac ta thn s�quisi�iuu st�all pass to 4ender to thc extent of the sums�ecur�d by this Security Instrument
<br /> Immodiwtcly prior co tho acquisitlan,
<br /> � 6. Oocu{niney,Preservstinn�.A1n(ntaoance aad Protect{on o[the Prapert7;Borrow�r's Loart AppNcatbn;l,ea.sebol�.
<br /> i' Bormwcr sh�ll occupy,establish�anA.ure tho Property as Borrovver's principal residenet within sixty duys after the execution of
<br /> this Socuriry[nstn�ment and�shall�candnue to occupy the Property aa BorroW«'�Pri��Pn� ►esidence for at lesst one yeu aft�r
<br /> tho dato of occupancy,unluss Lendar otherwise agras in writimg,which consent shall nat be unreawnably withheld, or unless
<br /> 'r extanunting cirGUmscanoes exisd which arG beyond Borrower'� control. Borrower shall not destmy. dunage or imp�ir the
<br /> Proparty. allow the Prnperty to dcierioratc, or commit waste on thc Pmperty. Borrower sh�ll bc in defeult if�ny forfeiture
<br /> `, action or proceeding.whethar civil or criminai. is begun chat in Lender's good faith judgment could rcsult in forfeiture of the
<br /> • Property or othsrwisc matorinlly impadr the liea cmated by this Security Instrumont or Lender's secut[ty interest. Borrower m�y
<br /> curo suc.h a dofctult and rainstnto,as providai in paragraph 1B,by causing tho actton nr procooding to be dismissed wich a niling
<br /> - thµ, in l.endar's goad�aitn•dccerminaiivu, N«.iud�s farftiiuzt of tt:c �c!�wn��c intnrest in the Ptarperty o� other rlmtetial
<br /> 'i impAirnx.nt of,tha I,ien�crn�ted by this Securiry instrument or Lcnder's sc.curity intarast. Borrowcr shall xlso be in default if
<br /> Borrowcr,durin�1he ta�n Application proces�,gave matariilty false or innccurata information or stataments to Lendcr(or failed .
<br /> ta prr�vidn l.endar w•ich�any material information)in canncction with tho loan evidenoed by the Noto,including,but not limital
<br /> - tp,raprasentatians cc�m�tming Borrower's occupancy of the Property as a pri►�cipal ntsidcnce.If tbis Security lnattument is on a
<br /> lnaa:ftr�t�id� Dorrower shali�com.�ty with all the provisions af the lease. lf Borrower acquires fa tido to the Property. the
<br /> � ltrasc2iuld and the fcx:dtle shall not merge unloss Lender agrees*.o the mergcr in writing.
<br /> 7.1'twtectfoin aT I.ender'y Rlgbts tn the ProPerty�f B°n°Wer fails to perform the covenu�ts and-agrcemente cc►ntained in
<br /> .� this�Securlty Instrument. or there is a legal proceeding that may significantly aficci u��e�'s aghts in thc°.eYerty (sac.h '=�z
<br /> .. prrmrcr.ding in bankruptcy,prohatc, for condemnation or forfeiture or to cnforce laws nr ngulations), then l..cnder m�y do md
<br /> �� px��;f.or whatever is noceu:vy co pmtect the valua of the Property and I.ender's rights in tho Property. I.Gndar�s�t�ons cnay
<br /> ine]udo paying aay sums secured by a lien which has priority over this Security Inatrument. appetcing in coutt, paying
<br /> �+ rcasonabin attomeys'fees and cntering on the Yroperty tu make tepairs.AUhough I�ndcr may takt�ction under this paragraph
<br /> 7�.Lcnder does not havc to do so.
<br /> � Any amounts disbursod by Lender undcr this paragraph 7 shall become additional debt of Bc�trowcr secured by this
<br /> 5�riry Instrument. Untcss Barrower and Lender agree to other terms of payrnent, these amounts shall bear Intanst from the
<br /> dxa of dtsbureement at the Note rate and•shall bo payable, with interest, upon notice from Lendor to Botrower requesting
<br /> : pxyment.
<br /> � S.Mortgago It�surance.If Lender requiral mortgage insuraace�s a condition of making the loan secured by this Securiry
<br /> ' Inurument, Borrower shall pay the premiums requlra! to maintain the mortgage insurance in effect. lf, fot any resson. thr
<br /> mortgage insurance coverage required by Lend�r lapses or ceases to bo in etfect, Borcower shall pay the premiums requitYd to
<br /> � obtain coverege substantially equivalent to the mortgage insurance pnsvfously in effect,at a cost substantially equivalent to tha
<br /> cost to Borrowcr oi the mortgage insurance previously in effcet, frnm an alternarc mortgage insutcr Approved by l..ender, If
<br /> — ;� substantiully eyuivalent mortgagc insuranca coverage is not available,Borrower shall pay to Lendar exct�month a sum cqual to
<br /> ane-twelfth of the yeariy mortgage insurance premium being paid by Borrower when the insurance coaerage lapsed or teased to
<br /> - `� b�kn effecc.Lender will accept,use and retain these payments as a loss restrve in lieu of mortgage insurancc. Loss �tserve
<br /> Fam�02� 8/90
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