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<br /> 5. H�rd or Property lnsurance. &►rrower shall kcep the improvcmcnts nnw cxisting or hereaftcr erectect on the
<br /> Praperty insured against loss by firc, hazards included within the temi "exteixled covenage" and sny ottier hazards, inclucling
<br /> f1�ds or floocting, for which Lender requires insurance.This insurance shall be maintained in tiie amounts and for the periods
<br /> that Lencicr rcquires. T'he insurnncc carricr providing the insurance shall lx:chosen by Eforrower subjcct ta Lender's approvel
<br /> which shall not be unrc�.sonxbly wlthheld. {f Borrower fails to maintain covcrnge descrihod above, l.ender may, at Lender's
<br /> option,obtsin coverag�to protett Le�xler's rights in the Property in accordance with paragraph 7.
<br /> AII io;u�a�r pulicic.; »nd :�n��val� SIlAII bC ACCfMAIIIP tn tr.ncler and shall include a standard mortgage clause. Lender
<br /> shall have the right to hold the pc�licies and renewals. If Lender requires,Borrower shall promplly give to i.ender alt receipts of
<br /> Naid premiums and renewal natices.In the ovent af loss,Borcower shall give prnmpt notice to the insurance can'ier ancl I.ender.
<br /> Lender may make proof of loss if not made promptiy by Borrower.
<br /> Unl�s Lm�dcr and Borrowcr otherwisc agree in writing,insurance proceeds shall be applicd to restoration or rcpair of the
<br /> Property demagai, if the restorntion or repair is economically feasible and Lender's security is not Iessentd.lf the restoration or
<br /> repair is not economically Icasible or L.ender's security would be lessenod,the insurance proceeds shall be applial to the sums
<br /> secured by this Security Instrument, whecher or not thcn due, with any excess paid to Borrower. ]f Borrower abandons tAe
<br /> Property,or das not answer within 30 days a notice from I.ender tha¢t�e insumnce carrier has oi'fered to settle a claim, then
<br /> I.ender may collect the insurance Prace*eds. Lender may use thc pcncea4s to repair or restore the Property or to pay sums
<br /> secured by this Security Insttument,wt�:tl�er or nat then due. The 3Q-dsy ueriod will begin whcn the�totice is givea.
<br /> Ualess Lender and Borrower otherwir.e agroe in writing, any apglication of proceeds ta principal stwiE c�ot extend or
<br /> postpane the due date of the manthly pa}mx:nts referrcd to in paragrapins 1 and 2 or change die amount of the payments. lf
<br /> under pacagraph 21 the Property is acqui�vd E�y Lender,Borrower's right rto any insur.►ncc policies And proeeods resulting from
<br /> damage to the Arop�rty prior to the scquisition shall pass to L.ender to th�extent of the sums secux�by this Security Instniment
<br /> immaiistely prior to the acquisition.
<br /> 6�pocuponey,Preservation,Maintenance and Protrction ot the Property;Borrower's LoAn AppUcatton;I�eo.seholds.
<br /> Borrower shnll occupy,cstablich,and use the Property as Borrower's principal residence within sixty days aRer tht ezxutioa r,F
<br /> this Securiry Instnime�it and shali continue ta occupy the Property es Borrower's principal reside.�oa for at least ot�yar a�ea'
<br /> the date of occupancy, unless i,ender otherwiso agrees in writing. which eonsent shall not be�u+1reusanably withheld, or unless
<br /> c�teau»ting �irt:�snstan�'es �x�ct which arc bcyond Bonowcr's cocHml. Borrowcr shall not d�iruy, damage or imp�ir the
<br /> Pn�eny, allow the Pmperty to detcrtorate, or commit waste on the !'ruperty. Borrower shnq be in default if�ny forfeiturc
<br /> actiun or procading, whether civil or criminal, is begun that in I.ecxias's good faith judgment ooutd msult In forfeitun of the
<br /> Property or otherwise macerielly impair the lien created by this Sectsriry llnsuume�t or Lender's security interest.Borrower o�r
<br /> �. �� x.. - -: .1...nMinn�r nmrM(�1r1�tn hr dismi.c.sed with a rniina �
<br /> Cure such a deYoulc�nd reinstace. as pruviuvu in N+uagiuNu +v�u� �«�:.+.�.^g.•..-....••..••..- r•---
<br /> that, in L.ender's good faith determination, precludes forfeiture of th��Borrower's interest in the Property or otlur mnterial
<br /> impairment of the lien crrated by this Security Instrument or I.ender's security interest. Borrower shall also be in default �i'.
<br /> $orrower,during the loan application process,�ave materially faisc or inaccurete infornution or statements to Lender(or faiftd
<br /> to provide Lender with any material infonnation)in connection with the loan evidenad by the Note.including,but not li�niind
<br /> to,npresentations conceming Borcower's occupancy of tht Property as a principal t+esidence.If this Secudty Instrument is un a
<br /> Icasehold, Borrower shall comply with all tht provisians of the leasa. If Borrower acquires fce titic to the Property. tlu
<br /> le�hold end'the fa title shall not merge unlcss Lender agrees to the merger in writing.
<br /> 7,protection of i.ender's Rights In the Prope�ty.If Borcower fails to perfortn d�e covenants and agreements conqined in
<br /> this Socurity Instrument, or there is a lega! proceoding that may significandy affoct I.enckr's rights in the Property(such as a
<br /> proceeding in t+anicruptcy, probate, for coixlemnation or forfeiture ar xo enfora laws or regulations),then T..�nder may do ax►d
<br /> pay for whatever is necessary to protect the value of the Property�nil Lender's nghts in the Property. Lender's actions may
<br /> include payin8 a�►Y sums secured by a lien which has priority over thif. Security Instn►ment, appesring in oourt, paying
<br /> reasonable attorneys' foes ru�d entering on the Property to nnake ctipairs. Although l.ender may take action uncier this paragraph
<br /> 7.I.ender does not have to do sp.
<br /> Any amounts disbursed by Lender under this paragraph 7 �ha]1�become additional dcbe of Borrower securod by this
<br /> Security Instrument. Unless Borrower and Lender agree to dher ter�ms of payrtxnt, these amounts shall bear interest from the
<br /> date of disbursertunt at thc Note rate and shall be payable,with interest, upon notia fmm Lcnder to Bonnwer requesting
<br /> payment.
<br /> B.Mortgxge Inwr�nce.If Lcndcr n�uired mortgage insurance as a condition of making the loan securod by this Socurity
<br /> Insttument, Borrower shall pay the p�+emiams requirai to maintun the mortgage insuranoe in effect. If, for any reason,the
<br /> mortgage insurance ooveruge rcquirai by Y:ender lapses or ceases to be in effecc,Borrower shall pay th�premiums requit+c.�,i to
<br /> obtain cove•rage substantially equivalcnt to the mortgage insumnce previously in effect,at a rnst substantially equivalent to ihe
<br /> oost to Borrower of the mortgage insurance previously in effect, from nn niternate morcgage insurer approved by G.�r�des. If
<br /> substantiai4y equivalent mortgage insurance covernge is►wt avaiiable,Borrower shall pay to Lender each month a sum eqt�to
<br />_. one-twelfth of�lie yearly mortgage insurana:premium bcing paid by&7rrower when tho insurancc coverage lapsai or ccxso�tQ
<br /> - be in effc�ct. I�er will accept, use and n�Cain thcse payments as a toss reserve in lieu of mortgage insurance. Loss raserre
<br /> Fornn 3021t 9I90
<br /> Pp�3 of 9
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