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<br /> . S.Ha�rd or Property Inaurwnce. Borrowcr shall lcccp thc►mprovcmcnts now cxisdng on c�rcaftcr crcctcd on thc Praperly "
<br /> insurcd against loss by Cuc. ha•r.ard.g includcd within tha tcnn °cxtendcd covcmgc" nnd m�y othcr ha�ards, including Iloods or
<br /> Qonding,fos which l.cndcr rcquires insuranca•'Chis insuranca shnll ba maintaincd in thc amoun�9 and for thc periods that Lcndcr j�;
<br /> " rcquires,Th:.insurutcc curricr Pro�idinG thc insuranca shall bc chosen by Bcxrowar subjcct to Lcndcr's approval which sball not � .
<br /> � bo unreasonably withhold. If Borrowcr fails to maininin covoragc dcscribed abovc, la:ndcr muy. at Lcnder's option. abLtin ' ,. `r":
<br /> ._;..�+r cuvcrngc ta protectl.endcr's nghts in Ihc Propccty in nccordancc with paragraph 7. :�_=
<br /> � AU insurance policies nnd renewals shall be acceptable to Lender and shall inr.lude a standard mortgage clnuse,Lender shall � «`�__
<br /> have tho dght co hold Ihc policics and renawels.If L,endcr rcquires,Bot'rowur shall prompdy givc ta Lendcr all roccipte at paid
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<br /> , , premiums and renewal notices.In the cvent of loss,Borrower shall givo�rompt nodce w the ins�uencc cArrier and Lcndu. Lendcr _
<br /> may makc p�oof ot loss if not ms�dc prompdy by Barrowcr. _.;��-_ _
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<br /> Unless I.cnder and Borrowcr otherwise agccc in writinB� inuurance P10�S shell be applicd to restoradon or rcpair of the , �,. -�
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<br /> Pro p a t y d a m a g e d,i f t ha r e s t o r a U O n o r r e p a i r i s c c o n o rt u c a l l y f e a s i b l c a nd L.cndar's socnrity is nat lessencd.If the reswrapon or � ,,�_�__
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<br /> mpair is nat economically feavibla or Lender's security would be lessened, the insurance proceeds shall be ePP U e d co t he sums .V��
<br /> secured 6y this Security I�swment, whether or not then due, with any excess paid to Bonower.If Borrower ubandons the l:-,T_
<br /> propeny,or does not answer wi�►in 30 days a�wtica from L.ender ihat the insurance carricr has offcrcd to s�ql�ums seeured '----
<br /> �:t Lender may collect the insurancc procecds.[.ender may use the proceeds to repair or restore the Property or to pay ----
<br /> by this Seccuiry lnstrumenc.whcthcr nr nat then dua.'ftic 30-day periad wilt begin when thc noticc is B��e�• -_Y___
<br /> ,'�" Unloss Le,�►der and Borrower otherwise agcee in wr►ting,anY BPP�pon of procceds co principal shall not exteaid ar postpone ..:_��;__
<br /> ' � nts referred w in P�S�Phs 1 and 2 or change the amount of ihe payments.If underparagraph `��:�_=-
<br /> the due datcs of thc monthly payma —
<br /> "� ' 21 the Proputy is ac.�iuireci by Lerider. Borrower's right to any insurance policies end procc�ds resulting from damage to the - ___
<br /> �� property pria t,o the acquisi t l on shall pass to Lender to ihe extent of t.ha sums secured by lhis Securiry Instrument imme�lately ---
<br /> prior w the acquisituon. '%
<br /> 6.OccupAnc',Praservptbn,MAintenance and Protectbn ot t�e Property; Borrower's Los�n Application; Leaseholds. ,. ,�
<br /> Horrower shaU occupY,estahlish,and use the Property ac Borrower's principal residence within sixty days af[er the e�ecudon of ___-.
<br /> this Security Inswrrrent and shaU continuc to occupy the PropereY as Borrower's principal residence for at least one year alt�the __ _____
<br /> • dnte of occupancy, unkas Lender otherwise agrcxs in writin8� Which consent shall not be w�reasonably withhelG,or unkss �:'_���
<br /> � ex���ng circumstances eaist which are Ueyond Borrower's control.Boerower st�all not destroy,dama8e or impair tlie ProP�Y• =_�—_
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<br />_ . --- allow the Yropeay w dvt'r.+ioi�, ar commit •�srse on thP �'*"I'�. Borrowcr shall be in default if any forfeitwe acnon or _
<br /> •� � procecding,whether civil or criminal.is beKun that in Lender's good faith judgment could result in forfeiture of the Property or
<br /> ' ' o�herr�,�se materiylly impair the lien creAted by this Security Inswment or Lender's security interest SorroWU may cure such a
<br /> '� �� � h 18,b causin the action or procaeding to 6e dismissed with a ruling that,in —
<br /> � • • default and reinstaLe,es provided in pnraS�P Y B _
<br /> Lendu's gaod faith determination,precludes forfoiture of the Borrower's intcrest in the Propeny or other mateaiel imPaizmcr►t of _.
<br /> . the lien created by this Secwity lnswmeat or Lender's security interesG Borrower shaU also be in detault if Borrowet,during Ihe ,
<br />-' ,'.,�,, loan appiication process,gave materiallY felse or inaccurate informadon or statemenu to Lender(or failed co provide Leridu with _
<br /> � ', . any matcrial informadon) in conne�don with the loan evidenced by the Note, including. but not limlted co�repros�entations _ `
<br /> t:�� conceming Bortower's occupancy of the Propercy as a Principal residence.If this Sacurity InsUUment is on a Icaseftold,Hoaowa �
<br /> ' shall comply with all ihe provisions of the lease.If aorrower acquims fee atle w the PropertY.the leasehold and the fee dtk shall
<br /> not mcrge unlass I.ender agrces to the muger in writin8•
<br /> � . 7.Protectio�of Lender's Righta in the Property. If Borrower fails to perfonn th�covecients end agreemuus wnteir►ed in �—
<br /> .�� � -_� this Security Ins�ument, or there is a tegal proceeding thxt may significantly affect Lender's rights in the Proparty(such as a _
<br /> '� •.�';;;.,., ' proceed�ng in bankrupccy,probat�.for condemnadon or forfeiture or to enforcc laws or ngulations),then Lendu may dc�end pay
<br /> `����•�.+ for whateva is noccssary w protcct the value of the Property and Lcndcr's rights in thc Fropercy. Lenda's xtions may includc __
<br />. • ;r�;�,� ' PaY�6 �Y sums socurc�by a lien which has priority over Ihis Sccurity Instrument,apIsearin8 in wu�, PaY�g reasonable _
<br /> •�: : auorncys' fees and entering on the Property to make repairs.Although L.cnder may takc action under this paragr•aph 7.I.ender _._
<br /> . . �,� does not have to do so. _ --—
<br /> � My amounis disburscd by Lender under this paragraph 7 shaU become addiflonsil debt of Borrower secured by�his Security �
<br /> �� �= �� • Insuumen�Unkss Borrower and Lcnder agrec tn other tcrms of payment,these amounts sha11 bcar intaest from thc dau of _
<br /> disb�usement at the Note rate and shall be payablc.with interest,upon nodce from Lender co Borrowct requestin8 PaYmenG �
<br /> , �' • 8.Mortgage Inaurance. If Lender required mortgage insurance as a wndition of making the ban secured by U�is Security . „
<br /> Instrument,Sortower shaIl p ay the premiums required w maintain the mortgage insurance in effecG If. for any reason, the 'v !�,
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay ihe premiuma required co � �r�--
<br /> abtain coverage substantially equivalent to the mongage insurance previously in effect,at a cost substantially equivalent to the �• ist:�M
<br /> cost to Borrowcr of the mortgage insurance previously in effect,from an altemate mortgage insurer approved by Lc�►der. If, �="�-;r�`
<br /> - substantially equiv�lent martgage i�nswance coveruBe is not available.Borrower shall pay to Lender each monlh asurn cqnal to �..�,:^__—
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<br /> one-twelf�h of�he yearly mortgage insurance prem�un►b�NB Paid by Borrower when the insuranee coverage lapsed or ceased to ,,,,-�.--
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<br /> be in effecG I.ender will accepG use and retain these paYmcnts as a loss reserve in lieu of mortgage insurance.Loss resen+e .,,,, .._
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<br /> ",'��� Form 3026 9/90 •''=r�_-==
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