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<br /> 97-. ia414�
<br /> 5. HwzArd or PmpeAy InsurAnce. Borrawcr sh;dl kcep thc impmvcntcnts nuw exixting ur hnrr,uflcr crcctcd an thc
<br /> Property insurcd aguinst loss hy firc, hur,;u�ds includcd wiil�in thc tcrn�'cxtcndcJ c�ivcragc" ��nd nny othnr ha•r.ards, including
<br /> flcxxls or Qocxiing, forwhich I.cnJcr rcyuires inruruncc. 'fl►is insuruncc shull be maiutuiixd in thc nmounts und fnr thc perinds
<br /> that I.cndcr rcyuirc,;. The insurancc carricr providiug thc insur.utcc sh.dl ix chosen by Iiorn�wer subjcct tii I.cndcr's upprovnl
<br /> which shall not be unrcasonuNly withhcld. If Harrowcr fails ta maint:.�in cuvcragc dc�cril+eJ ulx►ve, Lrn.lur miiy, ut Lxncicr': —
<br /> optiun,obtain coverage to protect Lender's rights in the Property in nccardunce with parugruph 7.
<br /> A➢I insuranee policies�uid renewals shull be acceptuble tn Lender und slii�ll include a standtud mort�;nhe clause. I.etxler
<br /> shall have the right ta hold the policies�nd renewals.lf I..ender rcquire.s,Borrower sh:tll prompdy givc tc�I..�:nder ull rc�ct:lpts of
<br /> paid premiums and ren�wal notices. In the cvent af loss, Borrowcr shal l give pranipt nouce to thc insuran��c carrier and I.encler.
<br /> Le�xlcr mny tnake prcwf of loss if n4t m�dc pramptly by Borruwcr.
<br /> Unlcss Lender and Borrower othcrwise agree in writing,insurance pracceds shatl be applicd to restur+tdun or repalr of the
<br /> Property damaged,if ihe restoration or repair is economically feasiblo And I.ender's ser.urity is not lessenad. If the resturation or
<br /> repair is not cconomically fcasible or I.endcr's security would be Iessened, the in5urw�ce procecds shall btt appliecl to tha sums
<br /> secured by this Security Instrument, whether or not then due, with nny cxccss paid to Borrawcr. If Borxower n6andn►te thc
<br /> Prt►perty,or does not answer within 30 days a notice from I..endcr that the insurance carrier has offered tu settic u clai�u. thcn
<br /> I..ti:nder nwy collect the insurance prceeods. Lender may use the prvicetds to repair or restore the Propcny or to Ray sums
<br /> sec:ured by this Security Inst►ument,whether oi-not then due.The 30-dax perial will begin when the notice is given.
<br /> Unlcss Lender end Sonower otherwise agme in writing, any applicntion of psacecds to principal shull not cxtcnd or
<br /> , postpone tha due date of thc monthly payments refercad to ip paragraphs 1 and 2 or change the nmrntnt of the pay�nen�5. If
<br /> undcr paragraph 2l tlie Property is acquired by I.ender, Borrowet's right to any insuriu►ce policies and pmc�.eds ee�ulting from
<br /> damage to tl�e Properry prior to the acquisition shall pass to l.ender to tt�e exteni of�he sums secured by thie Security Instrument
<br />, immaliately prior to the ucquisition.
<br /> 6.��cup�y, 1''reservRtlon,Mai�tenxnce ond I'rotectlon ot the Proper2y;Bon'ower's Lwm Appltr,ation;l.easehulds.
<br /> Rorrower shall occupy,estahlish,and use the Property as Borrower's principal resiclence within sixty dtiys after Ihe execut(on of
<br /> this 5ecurity Insrrument and shall cantinue to accupy the Property ns Bflrrower's principal residence for at teast ona year after
<br /> the date uf accupancy,unlcss I.�nder othenvise agras in writing,which conunt shall not bc unreasonably withheld.or unless
<br /> • extenuating circumstAnces exist which Are beyond eorrower's cantrol, Borrower shall not destroy, dc�mage or impair the
<br /> Propcny. allow the Pro�rty to deterioiatc, or commi[ wuste on the Propeny. Hormwcr shall be in dnfi�ult if any forfeiture
<br /> � ection or procading.whether ch•i� or criminul,is begun that it�I,end�r's good faith jwdgment could result•in forfi:intne of the
<br /> �, Property or otherwiscmatcriully impnir tha lien created by this Security Instrument or Lender's security inturest.Bor,w��e;may
<br /> � cure such a default ard reinstate,as pTOVidal in paragraph 18,by euusing thc ection or proceeding to be dismissed wiGt��aling
<br /> � that, in [.ender's gaod falU� determination, precludes forfelture of the Ba►Rrower's inurest in the Froparty or othar materlal
<br /> impaim�ent of the lien cnated by this Security Instrument or i.ender's securiry intertst. Borrower shnll also bc in defui�lt if
<br /> � Barrower,during the layn application process.gave materially fulse or inaccuratc information or statemontn to[.cnder(or tailod
<br /> � to provide Lender with any material infomiation)in conncction with the loun evldencal by the Note,inaluding.but not limitod
<br /> •R� to, representations concerning Borrowcr's occupsncy of the Propeny ss a princip�;il residenca If this Security[nstcument is an a _
<br />.� leaxhold, Borrower shall comply with all the provisions of the leuse. If Borrower acquiros fa titlu to the Property. tl�e
<br /> ••F Icasehold and thc fee tide shall not merge unless I.ender agrees to the mergcr in writing.
<br /> `� 7.Protectlon of Lender's Rigbts in the Property.If Borcawer faib to perform the covenants and agrcemcnte concainal in
<br /> :�+ this Security instrumene. or there is s legal proceeding thnt may signi�cantly affcet [.ender's rights in tha!'ropeny (such es a �
<br /> ' proceeding in bankruptcy.probnte. for condemnation or forfeiture or to enforae lawe or reguladons), thnn l.ender may du and
<br /> , ; pay for whatever is necessary to pxotect the value of the Property and l,�nder's rlghts in the Proporty:�L.ender's s�etionR rt�y ,
<br /> �� includ� paying any snms securod by a lien which has priority uv�r this 5e�;urity instrument. appear;ng zn Fout!, paying �
<br /> . reasonable sttorneys`fces end entering on the Property to maka repairs.AlE}wugh I.ender may take action nnder this�isuagraph
<br /> .�. 7, Lend�r does not havo to do�o.
<br /> `- Any umounts disbursc3 by L.ender under this paragraph 7 shnll bccomc uctditional debt of Barrowcr sxura9�by this
<br /> Y� Secudty Instrument. Unless Borrower and i.ender agree to o�hcr tcrms of p�ym,cnt, thesc amounts shall 6car interest From the
<br /> '� dste of disbursement at the Note ratt and shall be payable, with intcast, upc�n noticc from Lcndar tc� Eiorrower requesting
<br /> ' pxymn�t.
<br /> 8.Mortg�ge Ir�uranee.IF Le.r�cler roquirod mortgage insurance as a condition of making the lonn r,ecural by thts;�,.°�;urity �
<br /> Inswmcnt, �orrower shall pay thc prcmiums roquircd to mainta3n the martgagc insurance in effect. If, for any �as�n, the
<br /> mortgage insurance coverage mquired by Lender lapses or ceases to be in Cffect, Sorrnwer�hnll pay tho premiu►ns required to ,
<br /> ; obtain rnverage substantisilly equivalent to the mortgage insurance previously in effcct,at a cost substnntialiy equivalent to the l
<br /> cost to Borrower of the rnortguge insurance p�viously in effect, from�an olternate mortguge insuc�cr approved by I,.ender. It ;
<br /> substantialty equtvu�cnt mortgagc insurance coveragc is not avail:�ble, Bortower shall pay to Lcnder each month a sum equel to
<br /> ., one-twelfth of the ycady mortgnge insucanee prcmium being paicl by 13c�rrower when the insurancc cavoroge lapsed ur ccased to ;
<br /> � be in effect. Lender will accept,uss nnd retatn these paymente as a loss rese:rve in lieu of mortgc�go insuranca T.�ss reserve
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<br /> � • Form 3028 8/90
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