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<br /> ��.� 10�48
<br /> 5. HWxard or Nro{xrty InsurAncc. t3��n•u«�cr tihall kccp thc impn�vrmcnts nuw cxi,iing �,r��lurcuRcr crcctcJ on thc
<br /> {'ruperty insurcd ngainst losti by tirc, har,�r�is includcd witiiin►hc icrm "extcndc�i ci�vcnigc" nnd :�ny othcr hurxirds, in�luding
<br /> ilixxl�ur Il�xKiing. ti�r wldrh l.cndcr rcc�uirc�in�ur1111'l'.�I�I115 It1�U�liill'C sI1t1II I�C I111UI11t11�1C�I 111 IIIC nnwunt�und for thc pericxls
<br /> �hut l.cndcr rcyuires. Thc insurunrc rurricr providing thc insurn��cc rhull hc rhuscn hy li�ttrc�wcr ,uhjcct tu l.a:ndcr's nppmval
<br /> �vhirh tih,dl not hc u�vca,onuhly withhcld. If Iiurniw�r faUs�i, maintain cu�•cragc dc�crihcd utx�vr, l.cndcr muy, ut l.cndcr's
<br /> uptiun,ubtnin covcrugc tu protcct l.cndrr's right� in�lie Pro}xrty in urcorduncc wuh pari�graph 7.
<br /> All inrurancc pulicics +md rencwuls,hall bc iicrcptahlc w landcr nnd shall includc u tituncl�►rd mortgugc cluuu:. L.cndcr
<br /> shall have the right to hold tlu p��licies uixl reixwsds. 11'l.cuder requires, Borrawer shull prcirnptly givc to Lcndcr all reccipts of
<br /> paid pi�emiums u�xl rcnewal notices. In the evciu of I��ss,Barrower slinll give prompt notice to thc insurancc curricr and l.ender.
<br /> L.cndcr muy mokc prcx�f of loss if ni�t nZ�cic promptly by Horrowcr.
<br /> Unlcss Ixnder und Bc►rrower otherwise agree in writing,insurnnce pr�xeeds shull bc upplicd tu restorution or rcpnir of tha
<br /> Property damaged, if the restorntion ar repair is ea�ix�mically feasible ur�1 Lender's�ccurity is not Icssenal. If the restaration or
<br /> repair is not�;coix�micully fc:�ible ar I..eixier's security would be Icssened, the insur�nce praceeds shall be upplieci tu the sums
<br /> secured by this Securiry Instrument, whether or not then duc, with any dRcess paid to Borrower. If Borrower abunclons the
<br /> Propeny, or dces not answer wlthin 30 dnys a natice from Lcnder that the insurance carrie�has offered to setde a claim, then
<br /> Lender may callxt the insurance proceeds. Lcnder may use the procceds to repair or restare the Propeny or ta pay sums
<br /> secured by this Security Instrument,whethar or not then due.The 30•day perlod will begin when the natice is given.
<br /> Unless Lendcr a�xt Borrower otlur+vese agn.�e in wrlting, any application af proceais to principal shall not extend or
<br /> postpo��e the due dute of the monthly payments refcrred to in parn�raphs 1 und 2 or change�he amount of thc payments. If .
<br /> under par.,graph 21 the Property is acquired by Lender,Borrower's right ta any insurunce policies und proceeds resulting fram
<br /> damage to the Property prior to the acquisition shall puss to l,cnder to the extcnt of thc sums secured by this Sccurity Instrument
<br /> immediately priur to the acquisition.
<br /> 6,pccupancy,Preserv�tlon,Malntenance and Protectlon of the P�v�perty; Borrower's Loan Applicatlon;I.easeholds.
<br /> Bonower shnll occupy, establish.and use the Propetty as 13orrower's principal residence within sixty days after the execution of
<br /> this Security Insnument and sholl continuo to occupy the Property as Bonower's principal residence for ut teast one year atter
<br /> the date of occupancy, unless Lender otherwise agrces in writing,which consent shall not be unreasonably withheld.or unless
<br /> extenuating circumstunces exist which i►re beyond Borrower's control. Borrower shall not destroy. damage or impair the
<br /> Property. allow tho Property to detcriorate,or commit wastc on the Propecty. Borrower shall be in default if any forfeiture
<br /> �cs2an ar ps�i�g, u��th��rivil nr criminal. is begun thnt ia l.ender's good faith Judgment could result in forfeiture of the
<br /> Property or otherwise n�terially impair the lien created by this Security Insttuntent or Lender's security interest. ldorrower ms�y
<br /> cu�such a default and reinstate,as provided in pa�agraph 1 S,by causing the action or procecding to be dismissed with a ruling
<br /> that, in L.ender's good faith dctermination. precludes forfeiture of the Borrower's interact in the Property or other material
<br /> impairment of the lien created by this Security Instrument or Lender's security interest. Bonower shall elso be in default if
<br /> Bonowor.during the lonn application process,�ave materisilly fatse or inaccurate information or statcments to Lender(or failed
<br /> to provide Lender wid�any material information)in connection with the loan evidenced by tho Note,including,but not limitod
<br /> to,representations conceming Borrcwer's occupancy of the Prc+perty es a princ9pal residence.If this Security Insuument is on a
<br /> leasehold, Borrower shall comply with all the provisions of ihe lease. If Borrower acqultes fa tide to the Froperly, the
<br /> leasehold and thc fee title shall not merge unless Lcnder agrces ta thc merger in writing.
<br /> 7.Pr.otection of I.ender's Rlghta in the Hrnperty.If Borrower fails to perform the wvenants and a�reements conswinod in
<br /> this Security Instrument,or there ia a legal proc�ding that may significantly effect Laider's rights in the Property (such as a
<br /> procetding in bankruptcy, probace,for condemnatfon or forfeiture or to enforce laws or regulstions), then I.ender may do and
<br /> pay far whatever is necessary to protat thc valuc of the Property and I.eader's rights in the Propeny. I.endcr's uctions may
<br /> include paying eny sums secured by a licn which has priority over this Security Instrument. wppearing in wurt, paying
<br /> reasonable attorncys fees and enteri»g on the Praperty to make repairs. Although Lender may take xtion under this paragraph
<br /> 7,L.ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower securcd by this
<br /> Securiry Instrument. Unless Borrower and Lender agra to other terms of payment,thesc amounts shall bear intere�st from the
<br /> date of disbursement at thc Note rate end shall be payable, with interest. upon notice from L.eader lo Borrower requ�stin�
<br /> PaYment.
<br /> S.Mortgase Iriqurance.If Le��der required mortgage insurance as a condition of making the loan securod by this Security
<br /> Instrument, Bo�rower shall pay the premiums cequired to mainteln the mortgage insurance in effxt. If, for any reason, the
<br /> mo�tgage insurana coverage required by I.ender lapses or ccas�s to be in effect, Borrower shall pay the premiums requirod to
<br /> obtain wverage substantially equivalent to the mongage insurance previously in ef'fecc,ut a cost substantially equivnlent to the
<br /> oost to Bonower of tht mortgage insurana pseviously tn effect, from an alternate mortgage insurer approved by Lender. If
<br /> substantially equivalem mortgage insurance coveragt is not avuilable,Bo�mwer sh�ll pay to Lender each month a sum equul to
<br /> one-tw�effth of the yearly mortgage insurance premium being paid by Borrower when the insurancc coverage lapsed or ccasod to
<br /> be in ef�ect.Lender will uccept.use and retain these payments as u loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Fam 3ti28 9l90
<br /> Ppa 3 of e
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