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<br /> 5. Hazurd or f'roperty Insurancc. Qorrowcr shall kccp tlic imprrncmcnts now cxisting bt ro�uPtOcr�c�r�ccbd�an the
<br /> Pmper►y insured ugninst In,s ny r��, huuudti indudcd within dte term "ex�endccl ccrverage° and any other ha•r.urds, including
<br /> flo�xls ur flocxling, for whirl� I.enJer requires insurance. T'his insurnncc til�ull be maintuined in the umounts nnd far the perials
<br /> thut L.ender reyuims. The insurance cnrrier providing the insuru�uc shall be chosen by [3arrower subject to I.ender's approval
<br /> wltich shnll nol be wtrcasonably wiihheld.If I�orrnwer fiiilc to ma�inttiin c��ver.ige descrihed ��h��ve, Lender may, at Lcndcr's
<br /> option,obtain coverage to protect I.ender's dghts in t1m Property in accordanee with paragraph 7.
<br /> All insurunce policies und renewals shail be acccptable 10 I.ender end shull include n stundurd mortgage cluuse, L,ender
<br /> shall havc tl�e right to hold tl�c polici�.s and renewuls. If Lendcr requires, Horrow�r shull prompdy give to Lencier all receipts of
<br /> p•rid premiun�s und renowal notices. In the event of loss,Borrower shall give prompt notice ta the insurance carrier und Lender,
<br /> Lcndcr may makc proof of loss if not made promptly by Borrower.
<br /> Unless Lender and 13or.awer othcrwise asree in writing, insurance �roceeds shall be appliM to restorntion or repair of the
<br /> Propeny damaged, if the restor�tion or repair is economically fcusible and I.ender's security is not lessened. If thc resto��tiun or
<br /> repair is not economically feasible or l.ender's security would bc lessened. the insurance prnceeds shall be applied to the sum9
<br /> sccured by this Security Instrumr,nt, whethcr or not then due, with any cxcess pvid to Aorrawer. If Borrawer aba��dons the
<br /> Property, or dces not nnswer witliin 30 days a notice fram Lender that the insurance carrier has uffered to settle a claim, then
<br /> Lencier may collect the insuranco pr�!r.eeds. Lender may use the prcx�eeds to mpair or restore the Property or to pay s�ims
<br /> securod by this Security Instrument, whether or not then due.The 30-day period wi116egin when the notice is givcn.
<br /> Ui�less Lender and Borrau�er otherwise agrce in writing, any ap�licali�n of pmceeds to principal shall not extend or
<br /> postpone the due date of thc manthly payments referrcd to in paragrnphs 1 and 2 or change the umaunt of the payments.lf
<br /> under paragraph 21 the Pronerty is ric:quired by I.ender, Dorrower's right to uny insurance policies und prceeeds resuiting from
<br /> dmna�e to the Property prior to the�cquisition shull pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition. ' •
<br /> 6.Occupancy,Preservation,MaintenAnce anii �rotecdon of the PropeKy;Borrower's Loan Appllr.nt3on;Leaseholds.
<br /> Borrower shall occupy,estnbli�'h,nr�r���se tlx Property as Borrower's principal residence within sixty duys after the exxution of
<br /> this Security Instnrment and sh,nll ca:!^nue to occup�� the Property as Bormwer's principal residence for at least one year aRer
<br /> the date of occupancy,unless Lender uthenvi.se agrees in writing, which consent shall not be unreasonably withheld,or u�tless
<br /> extenuating circumstances exist which aze Ueyond Horrower's control. Borrower shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriorate,or commit wastc on the Property. Bonower shull be fn dcfault if any forfeiture
<br /> actlon or rrncmlino, W�p��s�l���w;��r.2i:�l.is�La tt�ai in L.�,:�e;'s gc,a� ;siii�juugu,cni coutd resulc in�oriciture oi the
<br />_ t�roperty or othtrwise materially impair ilze lien creatod by this Securiry Instniment or Lender's security interest.Boaower may
<br /> cure such a default azxl reinstate,as pnoviclr.d in pat�agraph 18,by causing the action or pracesding to be dismis.sed with a tulsng
<br /> that, in Lendcr's good faith determinnt3�n,precludes forfeiture of the Borrower's interest in the Property or other materlal
<br /> itnpairnient of the litn crented by this Sex:urity Instrument or Lender's sa:urity inttrest. Aorrower shall also be in default if
<br /> , Borrower,during the loan t�pplication�raccts, gavc materially false or inaccurata information or statements sa Lender(or failod
<br /> ; to provide Lerber with any material Knforrnntion)in connection with the loan evidenced by the Note,including,but not limited
<br /> to.reprcsentations oonceming Borrower's�ccuoancy of thr.Prnnrrty as P pr_�cipa!residencc.Tf this���rih,�IcL;tniment is aa:
<br /> leusehold, Hormwcr shall comply with.u11,the provisions of the lease. If Bonuwcr acyuires fec title to the Propttry. the
<br /> lcusehold a»d the foe titl�shall not mcrgo unlcss I.onder agrees to the merger in writing.
<br /> `; 7.Pmtoction of I,ender's Rlghta it�tlte Piroperty.If Borrower fails to perform the covenants and agraments containocl in
<br /> � this Secvrity[nstnrment,or then is A Iegal proceeding that may significantly affect Lender's rights in the Property(such as t
<br /> -_, pratieding in bankruptcy, pmbnte,for condemnation or forfeiture or to enforcc luws or regulatlons),.then Lender may do and
<br /> '' pay for whatever ls necessary to protect the vnlue of the Property and Lencier's rights in the Property. Lender's actions may
<br /> include paying any sums secureel by a lien which has pdority over this Sccurity Instrument, appearing in caurt, paying
<br />' reasorwble attomeys'fces and enteria�on the Property to makc repains.Although Lender may take action urxier this paragraph
<br /> � 7,L,ender does na have to do so.
<br />� Any amounts disbursed by L�:ndur under this parngruph 7 sh�ll become additional debt of Borrower secuKd by this
<br />, Security Instrumcnt. Unless Bonower xnd Ltndcr ugrce to othor tcrnu of payment, these amounts shall bear interest from the
<br /> - date of disbursement at the Noto rate and shall be payable, with interest, upon notiGC from Lender ta �3otrower requesting
<br /> payment.
<br /> S.Mortgage Ituuranee.If l.endor required mortgage insurnnce as a condition of making the loan secutod by this Security
<br /> instrument, Bonower shall p1y thu prcmiums roquired to maintain the mortgage insurance in effect. If, for any rcASOn, tlu
<br /> : mortgage insurance coverage��eqi�i�d by Lender lapses or ceases ta be in effcxt, Borrower shall pay the premiums required to
<br /> obtain c,�verage substantially equivulent to the mortgnge insurance previously in effect.at a cost substantially equivalent to the
<br /> ; cost to Bonower of tl►e mortgugo insurance previously in effect, from an altemate mortgugc insurer approved by Lender. If
<br /> substantially oguivaletii mortgago Insurance covcrage is not availablo,Borrower sh�ll pay to I.ender each month a sum equal to
<br /> , one•iwelftl�of the yearly mortgage insurance premium being puid by Bonower when the Insurnnce wverage lapsed or ceased to
<br /> ; be in efftct. Ixnder will eccept, use and retuin these puyments ns a loss reserve in lieu of moRgage insurance. I.vss reserve
<br /> Fam 3028 9/90
<br /> 7 P�3o�e
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