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<br /> 5. Hwr,�rA or I'roExrty bttit�runcc. Surru�ti�cr sliall kccp thc impriivcmcnis now cxisti��l�n c�reaftcr crcctcd on thc
<br /> Pmperty insurc�l aguinst luss t�y iirc, hivairds includcd within thc tcrm "cxtcnded c�ivcrugc" ��nd uny uthcr iuixurds, inrluding
<br /> flni�d��+r Fl�HKiin�. f<u wl�ich IAndcr rcyuires intiur�ncc.'fhis insurancc shttll hc maintnincd in thc�intount�mid fbr thc periixls F
<br /> rhat l.cndcr requires. Thc insu�r�m�c curricr provicling thc insurancc shuU bc chuscn hy H��rniwrr+ut►jcct tu Iw:n�i�r'.appmval
<br /> which sh.dl not hc unrcationnbly wilhlmld. lf Borrawcr fi�ils to mainniin rc�vcragc dcscrFNed nbuvc. l..cndcr miry, ut Lcnder's
<br /> option,obtain covcragc tu protcc�L.endcr's right+ in ihc Property in uccorJuncc with p.iragraph 7.
<br /> All insurunce �x�licies und rcnewuls shull bc. acceptnble to I.ender und shall i�clude u stundard mortguge cluuse. Lender
<br /> shall have thc risht to hold the policics und renew:�ls.I f Lcndcr requircs,Borrowcr�hall promptly giv�ta l.cnder uU rcccipts of
<br /> paid premium+and renewal notices. In the event of los�,Burmwer shall give prompt notice to the insurance currier und Lendcr.
<br /> L.ender mny make proof of loss if not made promptly by Bonower.
<br /> [.t*.t:�ss Lender and Borrower othe►wvise agrce in writing,insurance proceeds shall be applied to restoration or repair af the
<br /> Property damaged. if the restoration or repair i�economically feusible and Lender's sr.curity is not Iessened.If the restoration ar
<br /> repair is not economically feasible or Lendcr's security would bc lessened. the insurance procte<Is shall!�e applicd to the sutns
<br /> secured by this Security Instrument, whether a• not ehen due, with any exce:>:c paid ta Borrowcr. If Ftorrower abandans the
<br /> Propeny,or does not answer within 30 days a notice from I.ender that the ii�sarnnce carrier has offered co settle a claim,then
<br /> Lender nuy coltect the insurance proceeds. Lender may use the proceeds to rcpair or restore the Property or to ps►y sums
<br /> securcd by this Security instrument,whether or not�hen due.The 30-day period will begin when thc natice is givcn.
<br /> iTnless Lender and Horrower otherwise agree in writing, t►ny application of proceeds ta principal shall not extend or
<br /> postpone the due date of the monthly puyments referred to in pacagraphs 1 and 2 or change the umount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender,Borrower's right to eny insurance policies and proceeds�esulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Insttument
<br /> imnxdiately prior to the acquisitian.
<br /> 6.Occup4ncy, Prcservatlon,Mpi�ntensu�ce and Prote�Non of the Property;Bo►'rower's Loan A�plication; Leaseho�ds•
<br /> Borcower shaU occupy,esteblish,und use the Property as Borrower's principal residence within sixty days af!er the execution of
<br /> this Security Instrument :ud shall continue to oc�upy the Property as Borrawer's princtpal residence for at least one year after
<br /> the date of occupancy,unless I.ender otherwlse agrees in writing, which consent shall not be unreasouably withheld,or unless
<br />-� crici�iinii�g circur.z�s«^.�°-xis! `•'•'ltieh arr i,ry�,nd Borzower's control. Borrower shull not destroy, damage or impair the
<br /> Property, allow thc Property to deteriorate, or contmit waste on the Property. Borrower shall be in defsult if any forieiture
<br /> action or proceeding,whether civil or criminal, is begun that in L.ender's good faith judgment could result in fodeltun of the
<br />'�`• Property or otheruvise materially impair the lien created by this Security Instcument or Lender's security interest.Borrower maY
<br />;.;; cure such a default and reinstate,as pmvided in paregraph 18,by causing the action or proceeding to be dismissed with a ruting
<br /> that, .+m Lender's good faith determMation, precludes forfeiture of the Borrower's intenst in the Property ur other u�at�eiel
<br />' impairtnent of the lien created hy this Security Instrument or [.ender's security interest. Borrower shall also bc in default if
<br /> � Bunower,during the loan application process,gtave mnterially falx or inaocurate infotmation or statements to Lender(or failod
<br /> �' ta provide Leoder with any material informaflon)In connection with the lo;u�evidcncod by the Ncte, including,but not llmitod
<br /> : to,rcpresentations conceming Borrower's occupancy af the Property ns a principal residence.If this Security Instrumont is an a
<br /> �' leasohold, Borrower shall comply with all the provisions of the lease. If Bortower acquires fee titic to the Peopetiy, thc
<br /> � Icasohald end the fix title shall not merge unless Lender ngre�to the merger in writing.
<br /> , 7.Yrotectton ot I.enikr's Rights in the Property.If Horrower fails to pedorm the cove�uu►ts and agrcemen�4 cuntsined in
<br /> � this Security InstrumenY. or there is a legal procading that may significantly aftxt l.ender's rights in the PropeRy(sttch as u
<br /> proceeding in bankrupccy,probate, for condemnation or forfeiture or to cnforce laws or regulations), ther+I.ender may do and
<br /> ' �ay far whatever is necessary to protect the value of the Property and Lender's rights in the Property. L.encler's actions may
<br /> inr.lude paying any sums secured by a lien which has pdority over this Security Inst►un�nt, appearing in court, paying
<br /> rcasonuble attomeys'foes and entering an the Property tu makc repairs.Although Lender may takc xtion under this paraBraPh
<br /> 7.I.ender does not have to do so.
<br /> Any amounts disbursed by I.ender undcr this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Socurity Instrument.Unless Borrower ar►d Lcnder agree to other terms of payment.these�nounts shall bear intenst from�he
<br /> • date of disbursement at the Nnte rate and shall be payablc, with interest, upon notice fmm Lcnder to Borrower requesting
<br /> payment.
<br /> S.Mortgs�go lnsurance.If L.ender required mortgage insurance as a condition of making the laan secura!by this Scaurity
<br /> Instcument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any neason, thc
<br /> rtwrtgage insuranca coverage required by l.ender lapses or ceases to be in effec►,Barrower shull pay the premiums required to
<br /> obts►in coverag�substantielly equivalent to the rnortgage insura�xe pnviously in effect, at a cost substantially equivalent to the
<br /> cost to Borrowor of the mortgage insurance previously in eCfect. from an altemate mortgage insurer approval by I.ender. If
<br /> substantially eyulvalent mortgage insurance coverage is not available,BcrraH�er shall pay to Lender ench month a sum equul to
<br /> one-twelftt►of thr.yea�'ly mortgage insurance premium bcing paid by Borro+��er�vhen the insurance ooverage lapsed or c,ease�to
<br /> be in effeet.Lender will accept, uxe und retaln thtse p�yments as a loss reserve in licu of mortgage insucance. Loss reserve
<br /> Form 3028 9/90
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