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<br /> S. HrxNrd or t'mperly baur�nce, &�rrawer Nhall kccp tik lmpmvcments nnw cxir:dng ��n c�rcAftcr crccted an thc
<br /> Pro{�ny inzunxl againtit lo�x by fire, hur.arrls includai within the term"extc�xted caverage" n��d nny other huwrds, including
<br /> flanls or flaxlfng, far which Lendcr rcyufres insuratkc. This insunncc hhull hc n�aintaimYi in thc anx�unts und for thc perials
<br /> that Lr.i�der requires, Thc insuraixe curricr providing thc insurunce ahall be chosen by Iiorrowcr suhjcct ta Lendcr's approvAl
<br /> which Khati ix►t be unrcxwnubly withheid. If&�rrower fails to maintain caverage describrci ubovc, Ler�icr nwy, ut L,ei�der's
<br /> option,obwin cnvcrAgc to pmtccl L.cnder's rights in tho Property i�i aceonluncc wlth puragruph 7,
<br /> All insura�xc poUcics u�x1 rcnewuls shall t►e ucceptuble to l.cndor u�xl shull fnclude u standanl mortguge clausc. I.ender
<br /> shatl have thc right ta hold the pnlicies a�xi rcnew�IN.if Lcnder rcqulrcs,&�rrowee shsll promptly give to l.cndcr all reccipts of
<br /> paid premiums and renewal notias. (n thc cvr_nt oF loss. Banower shall givo prampt notice to the inaurance carricr und Lcnder.
<br /> L..ender may make pnxif uf loss if nat made prompsly by Ba�rrower.
<br /> Unless Lender and Bortower othcrwisc agroc in writing, lnsurnnce praccals shall tx:applicd tu rcstoration or rcpair of tha
<br /> Property damaged,if the rcstoration Ar rcpair is ecanomicully feasi6lc and Lcndcr's sec:urity is not lessencd.If thc rtstoration or
<br /> repair is not economically feasi6le ar I.ender's uxurity would be lessenod, the insurance proceeds shall be appliecl to iha sums
<br /> secured by this Securisy Instrument. wh�tlxr ar not then due, with any excess puid to Borrower. If Borrower abnndons the
<br /> Propeny, or does not answer within 30 days n notice from I..ender that the insurance carrier has offerod to setde a cluim.tt�en
<br /> I.ender may rnlloct the insuranoe proceeds. Lender may use the praceeds to rcpuir or reston the Property or to pay sums
<br /> secured by t1�ic Security instrurstent,wh�ther ar not lhen due.The 3U-dsy period will hcgin when the notica is given.
<br /> Unless Lender and Bormwer otharwise agrec in writing, uny upplication of p.�oce�ds to pritN;ipal shall not extend or
<br /> postpone thc due data of tha monthly payments referral to in paragraphs 1 und Z ur change the amount of the payments. If
<br /> under paragraph 2l tha Property is�cquired by Lender, liarrower's right to any insurance policies and proceods resulting from
<br /> daraage to the Propercy pdor to the acyuisition shaU pass to[.ender to the extent of the sums secured by this Socurity instcunxnt
<br /> immaiiately prior to the acquisition.
<br /> b. Occup�ncy,Pnservation,Matntenance wnd Prntectian ot the Property;Borrower's LoAn Applicatlon;La�.xhold�.
<br /> Borrower shall occupy,esteblish,and usc the Property as Borrower's principal reside�ce within aixty days after the execution of
<br /> this 5ecurity Instrument a�xl shall continue to occupy the Property as Borrower's principal residenca for at Itast one year after
<br /> the date of oocupancy, unless Lender othenvise agras in writing, whinc�onsent shall not be unrcasonably withheld, or unless
<br /> extenuating circumstanas exist which are beyond Borrower's control. Borrowa shall not destroy, damage or impair the
<br /> Property, allow the Pmpemr te deteriorate; or cnmm9r WACfP Qj! r� p�,,�ny, g��;y� ��!w in dtfauli i:':,ss� fart'titura
<br /> action or proceeding, whether civil or criminal, is begun that in L.ender's good faith judgment could result in forFeitun�f the
<br /> Pc+�►erty ar otherwise materially impair the lien croated by this Security Insteument or Lender's socuriry interest.Borrower may
<br /> cure such a default und reinstate,as provided in paragraph 18,by causing t!u action or proceeding to be dismissod wit}�a ruling
<br /> that, in Lender's good faith d�termination, prticludes forfeiture of the Borrower's interest in the Property or other material
<br /> impaim�ent of the lien created by this Secudty Instcument ar Lender's security intemst. Borrower shall also be in default if
<br /> Bornow.er,during the loan application procoss,gave materially false or inaccurate infornu�tio�or statements to Lender(or fellod
<br /> to prov�de Lender with any material information)in coruwction with the loan evidenced by the Note.including,but not limited
<br /> to,repres�ntations conceming Bomower's occupancy of thc Property as a principal residence.If this Security Insuument is on a
<br /> leasehold, Borrowcr shull oomply with all the provisions of the lease. If Borrower acquires fee title to the Prop�rty, the
<br /> leasehold and tho fce title shall not merge unless Lender agrees to the rtverger in writing.
<br /> 7.�+otectbn ot Lender's Rfghte In the Property.If Borrower fails to perform the oovenants ar�d agreementsi contained ln
<br /> this Security Instniment, or th�n is a Iegal proceeding that may sign{fcantly affxt Lenck,r.'s eights in the Property(such ns a
<br /> procedling in banktuptcy,probate, for condemnation or forfeiture or to enforce laws or iegulatlons),then I..eixler may do u�d
<br />; pay for whatever is nocessary to protoct the value of the Property and [.ender's rights in the Propeny. Lender's actions may
<br /> include pnying any sums secu�ed by a lien which has p:ioriry over this Security Instrument, appearing in cot►rt. paying
<br /> reasonable attomcys'fees and entering on the Property to make npairs. Although Lencler may take action undcr this paragraph
<br /> 7.Lemler does not bave to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall bernme additional debt of Borrowcr socurod by this
<br /> Sccudty Inswment. Unl�ss Borrower and Lendcr agree to other tsrms of payment,these amounts shall bear interrat from the
<br /> date of disbursement at the Note rate und shnfi be payabla, with intorest. upon noticc from Lender to Borrower requesting
<br /> PgYcneni.
<br /> 8.MortgAge Insurnnca If Lender rcquircd mortgage insurance as a conditiun of malcing the loan sec�rod by this 5ecudry
<br /> Instrument, Borrower shall pay the premiums rcquirod to maintain the mortgagc insuranc�in effoct. If, for any reason. the
<br /> mnregage insurance coverage rcquired by I.ender Ispses or ceases to be in eft'Ea,Borrower shall pay the premiums requi�ed ta
<br /> obtain coverage substantially equivalcnt to the mortgage insurance previously in effect, at a cost substentinlly equivalent to the
<br /> wst to Borrower of the mortgage insurance previously in effed, from an niternate mox2gage insurer approvod by Lender. If
<br /> subsiantially equivnlent mortgage insurance coverage is not av�ileble,Borrower shaU pap to I.ender each month a sum equal to
<br /> one-twelfth of the ytarly mortgage insurance pr�mium lwing paid by Borrower when the insurance coverage lnpsed or ceasal to
<br /> be in effect. Lender will accept. use and retain these payments as a loss �serve in lieu of mortgage insurance. Loss nserve
<br /> , Form 3028 9/90
<br /> Pp�3 018
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