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<br /> �. _ . :° 9?��6'786
<br />='.;„� . S. Hwuird ur Property Insurwtxc. t3urrnwcr shidl kccp thc imnruvcments n�iw cxitii►ng on c�sreafter crectcd on the
<br /> Pro�rty insurcd abninst luss hy firc, ha►rurds includcd within U�c tenn "extended coveragc" und any adv;r hazurd5, including
<br />�, Il�xds or tl�xxling. lur whicli I.codrr rcyuirc�in+urancc. Thiti inyur:mcc�hnll tk im�intuincd in [h�: um��unts�ind far the periais e
<br /> '„�,� thut I.�:nder rcyuireti.The insurancc rurrier providing thc insuranre shidl Ix chG��en by Ikirruwer subjr,ct ta Lender's uppmval
<br />_� whicli tiliall not tx: unrcus�inahly �vithheld. If&irri�wcr fails w muintuin ruvcragc deticrihed :�tK�vc. l.cndrr may. ut i.endcr's
<br /> ,� option, ohtuin covcrugc tn protcct I.cndcr's rights in thc Pr��pc:ny in uccorduncc wiU�purugrrph 7.
<br />— - All insurance {x►lirics und renewuls shull bc acceptable to l.ender und shull incluJe u �t+md+ard rreartgu�e cluuse. l,ender
<br /> � ����'� shall h:�vc thc ri�;ht tn huld the palicics und rencwuls. If l.cnder rcyuires,i3arrowcr shul l promptly give t�s l.ender ulf receipts of
<br /> _ . . paiJ premiums und rencwal nuticeti.ln thc cvcnt of lu�.s, Barmwcr shnll givc pn�mpt nciticc W tl�c insuruncc carricr uiwf L.cndcr,
<br /> � �= � Lendcr may makc pnwf of luss if not madc promptly by Borrowcr.
<br /> =,�,�.�.: ..
<br /> = 1•� . Unless Lcnder and Borrower othcnvise ngrce in writing,inturance pr��cccds shull M:applicd to restorauon or rcpair of thc
<br />�,S.�,i�:�„.'
<br /> Property damaged, if the restcration or repuir is economicully feusible and L�:nder's security is nnt lessenad.U tM re.ctorution ar
<br />��� repair is not cconomically feusible or l.ender's securiry would bc Iesscncd, the insurancc pmcceJs shiill bv a�li�d to tne sums
<br /> �'�•'��.�:`�'�" � secured by this Security Instrument. whether or not then due, with any cxcetis paiJ tu Borr�iwcr. [f Borrowor ab�nidons the
<br /> —.�•:,.,,,
<br /> ���•.'+�° � Property,or does not answer within 30 duys a notice from Lendcr thnt the inrurancc cuRier hus ofi�red ro sct►�e�`���a ums _
<br /> '••�''°�'• ?' L.ender muy collect[he insurance proceeds. Le�der may use thc pr�xeed+ to repair or r�tor: thc P.+�n�sr1Y P Y
<br />=•y�Yl,"�,�;. sewred by this Security Instrument,whether or not then due.The 30-day pericxi will begin whr�n thr:nat.ice is given.
<br />' "�.�;�;; Unlcss Lender and Borrower otherwise �gree in writing, any applicution af proceeds tu prinr.fprtl shall not extend or
<br />�;. • ;
<br />�;,x � postpone the due date of the monthly payments referred to in paragraph:. 1 and 2 or chun�e tlos umAUm of the p9ynr.nts.
<br />-- ��� under p•rragraph 21 the Property is acquired by L.ender, Borrower's right to any inrurance policien und prc�ceeds resulting from
<br />==:-�;: � damage ro the Property prior to the acquisition shull pass to Lxnder to the extent of the sums secured by thi� Security Instrument
<br />'':��.� irnmediately prior to the acquisition.
<br />_-'"�� 6. Occupancy,Prese�watton,Meintenance and Protectlon o[the Propertyc Bon'nwer's Loan Applicutlon; I.easeholds.
<br />�:-,ty
<br /> ` Borrower shall occupy.establish,and use the Property as Borrower's principal residence with+n sixty days after the execution o
<br /> �==='•�%�' this Security Instrument and shall continue to occupy the Property as Borrower's prirscipal re.sidence for ut least one year after
<br /> --= the date of occupancy,unless Lender othenvise agrees in w�iting, which consent shall noe bQ unr�asonably withheld, or unless
<br /> __.___ exienuating circumstances exist which are ueyand Bvrn�wrr', curd�o3- �:;r�s%cr sha!! a^! dest[ny, dnmaee or impair the
<br /> -- '�"°'— Property, allow thc Propecty to dcteriorate, or commit wnste on ttw !'ropany. Borcower shall be in default if any forfeiturc
<br /> � action or proceeding, whether civil or criminal, is begun thut i�l.:nder's good faith judgment coulJ result in forfeftura of the
<br /> Propeny or otherwise materially impair thc lien created by this Security Instrument or I.ender's security intemst. Dorrower may _
<br /> cure such a default and reinstate,as provided in paragraph l8,by cuusing the action or proceeding to be dismissed with a ruling
<br /> that, in L.ender's good faith dcterniination, precludes forfeiture of the Borrowcr's intcrest in the Property or other material
<br /> impairnient of the lien created by this 5ecurity Instrument or I.ender's security interest. Borrower sh•r�l:alto be in default if
<br /> Borrower, during the loan application process, gave materially false or inaccurate inforn�ation or statements to Lender(or failed
<br /> ---- to provide L.ender with any material informution)in connection with the loan evidenced by the Note. including.but nat limited
<br /> to,representations concernin�Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee titlp to the Propett,y, the
<br /> leasehold and the fee title shall not merge unless i,endcr agrees to the merger in writing.
<br /> 7.Protectlon of Lender's Rig�is in the Property.If Borrower fails to perfarm the covenants and egreements containe�in
<br /> this Securily Instrument, or there is a legul procceding that may significantly affect Lender's rights in the Property (such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations), then Lcnder may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, uppearing in court, paying
<br /> reasonable attomeys' fees and cntering on the Property to make repairs. Although Lender may take action under this paragrnph
<br /> 7,I.ender does not have to do so.
<br /> � Any amounts disbursed by Lender under this paragraph 7 shall become addition..l debt uf Borrower secured by this
<br /> — -- Security Instrument. Unless Borrower and Lender agite to other terms of payment, these a�nounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requesting
<br /> -_- — P�Yment.
<br /> ---- 8.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> — Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the
<br /> =`;,�,�,�„� mortgage insurance covetage required by Lender lapses or ceases to be in effect,Borrower shall pay the prenuums required to
<br /> -:_�;,�;�� abtain coverage substantially equivalent to the mortgage insurance pteviously in effect,at a wst substantially equivalent ta the
<br /> �'iu`�;_ ` rnst to Borrower of the mortgage insurance previously in effect, from an �lternate mongage insurer approved by I.ender. If
<br /> :-v�•F subatantially equivalent mortgagc insurance coveragc is not�vailable. Borrower shall pay to Lender each month a sum equal to
<br />=�'j;HV _
<br />�;.�,.�„� �_�-i',. � one:-twelfth of the yearly mortgage insurunce premium being paid by Bonower when the insurunce coverage lap�ed ur ceased to
<br /> =���,��=�"�"� be in effect.L.cnder will accept, use and retain these payments;�., a loss reservc in lieu of mortgage insurnnce. Loss reserve
<br /> :• Farm 3028 9/90
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