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<br /> 5. N��ard or 1'ro�xrty Insuruncc. Rurro�vcr shall kccp thc improvcments nc►w cxisting an c�rcuftcr crcctcd un thc
<br /> Pra{►crty insurcd sigainst lotis hy firc,ha�lyds includcd wiU�in thc tcrni "cxtcnded �:�rvcragc" aud uny otiicr Iia�arJs, includina
<br /> flixxis i�r floinlinF, for which Lendcr rcyaires insurancc.This insuroncc shnll bc m.iinu�ined in�hc amuumti i�nd for thc pc�iodc
<br /> Uti►t I.cndcr rcquires. Tl�c imuruncc carricr pmviding thc insur:incc shnll bc chuscn by ik�r:uw�r .uhJcct tu l.cndcr's appn�val ._.
<br /> whicl� shuU not br,unreasounbly withheld. If Borrower fnils to maintain coveragc described atx►ve, l.ender ur.ry. ut I.e�xler's
<br /> option,ubtain covcrngc to prutcct Lcndcr's rights in thc Property in accordancc with paragmph 7.
<br /> All insurance policies und renewals shall be accepti�ble to l.ender mid shall include n stundurd mortgage clause. L,endcr
<br /> shall havc thc right to hold the pc�licics and ren�wals. If l.a;nder requires,&�rrower shall pri�rnptly givc to L-endcr all reccipts of
<br /> paid premiums and renewal notices. In the event of loss,Borrower shall give pmmpt nc�tice tu the insur.u�ce currier and i..ender.
<br /> Le►�der muy m►ke prnaf of loss if not n�ade promptly by Borrower.
<br /> Unlcss L.ender ond Bc�nawer othcrwise agree in writing,i�surrnce proceals shall be applied to restarution or repair of the
<br /> P�openy damaged,if the restoration ar re�air is economicully feasible nnd L.ender's securi�y is not Icssencd. If the restoration or
<br /> repair is not economically feasible or l.ender's security would be lessened. the insurancc procceds sha0 be applied to the sums
<br /> secured by this Security Instrument,whether or not then due, with any excess paid to Borrower. If Bonower abandons the
<br /> Property, or dces not answer within 30 days a natice from Lender that the insurance carrier has offered to settle a claim, then
<br /> (.ender muy callect the insurance proceeds. l.ender may use the proceeds to repair or re.store the Property or to pay sums
<br /> secured by this 5cxurity Instrument. whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unless Lender and Bonowcr nther�vise agree in writing, ttny application of proceecis to principal shall not cxtend or
<br /> postpone thc due date of the monthly payments refe�r.:d to in paragraphs 1 and 2 ar chsnge the amount of the paymenu. If
<br /> under paragrapti 21 the Property is acquired by Lender,Borrower's right to any insurance policies and procceds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security'lnsttument ;
<br /> immediately prior to the acquisition.
<br />� 6.Occup�ncy,I'rtservAt(on,Malntensu�ce s�nd PmtecNon of!he Property; Borrower's I.oan Appllcatl�n;Leasehalds.
<br /> Botrower shall occupy,establish,and use tbe Property as Borrower's principul residence within sixty days nfter the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principal nsidence for at least one year aftcr
<br /> the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld. or unlcss
<br /> rYt�m�atina circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impuer the
<br /> property, allow the Propetty to deteriorate, or commit wastc on the Property. Iiorrower shall t►e in dsfauit i1 nny iariciiu�z
<br /> action or procouiing, whether civil or criminal. is begun that in Lender's good faith judgmcnt could result in forfeitute af the
<br /> Property or otherwise materially impair the lien createti by tl�is Security Instrument or Lender's suurity interest. Horrower may
<br /> cure such a default and reinstate,as provided in paragraph I8,by cuusing the action or proceoding to be dismissed with a ruling
<br /> that, in L.cnder's good faith determination. precludes forfeiture of the Bonower's interest in the Property or ather material
<br /> impaimxnt of the lien creatod by this Security Instrument or I..ender's security interest. Borrower shall also be in defauit if
<br /> t Bnrmwer,during the loan application process,gave materially false or inaccurate inforniation or statements to L,ender(or falled
<br /> to provide Lender with any material information)in conncetion with the loan evidencexi by the Note. including.but not limited
<br />_ to,rep�esentations canctrning Borrower's occupancy of the Property�s a principal rcsidence.If this Security Instrument i�on a
<br />� leasehold. Borrower shall comply with all the provisions of the lease. If Borrower ecquires fee title to the Property, tha
<br />" IeasEfiold and the foe tiQe shall not merge unless I.ender agrees to the morger in writing.
<br /> - 7.Protectbn ot Lender's Rights in the Property.If Bonower feils to perform the covenants and agraments contained in
<br /> this Security Insttument, or there is n legal proceeding that may significantly affect Lendar's rights in the Fraperty (such as a
<br />' proaeding in bankrupccy.probate. for condcmnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatcvcr is naessary to protect thc value of thr Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums se;.ured by a lien which has priority over this Security instrument, appaaring in court, paying
<br /> rcssonable attorneys'fees anei ontering on the Property to make rcpairs.Although Lcnder rnuy take action under this paragmph
<br /> 7.Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bormwer secured by this
<br /> Security Instrument. Unless Borrower and Lender agrce to othsr terms of puyment, these amounts shall bcar intcrest from the
<br /> date of disburscment at tho Note rate and shall be payable, with intencst, upon notia from Lender to Borrower requesting
<br /> paytnent.
<br /> 8.lViortgage iasutanee.If Lender rcx�uired mortgage insurance as a condition of making Yhe loan secured by this Socurity
<br /> [nstrument, Bormwer shall pay the premiums required to maintain the mortguge insurance in effect. If. for any reason. the
<br /> mortgage insurance coverage required by I,ender lapses or ceases to be in effect. Bonower shall pay the ptemiums required to
<br /> obtaln coverage substantially equiv�lent to the mongage insurance previously in effect,at a cost substantially equivalent to the
<br /> . cost to Bonower of the mortgage insurance previously in effect, from an�Itemate martgage insurer approved by Lender. If
<br /> substantially equivnlent mongage insucance coverage is not available,Borrowet shall pay to Lender each month a sum equal to
<br /> � a�e-twelRh of thc ycarly mortgage insurance pmmium being paid by Borrower when thc insursncc coverage lapsed or ceau�d to
<br /> be in effect.Lender will aceept,use and retain these paymcnts as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> � Form 3028 9190
<br /> � Pape 3 of 0
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