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<br />:'�_���`,;�' S. HwzWrd or Property lnsurunce. Borruwcr shall kcep thc improvemcnts now existing on c�rcaftcr crcctc�i on t ic
<br /> =;-�:r';•-. Prapeny insurcd nguinst luss hy firc, hur.urds includcd within thc tenn "extcndcd cavcragc" und any othcr huzurds, iucluding
<br /> " tluods��r tl�xxiin�, fi�r which Lcnder requires insur.�nce. This insurimce shull be miiintuined in the amountti und for the perioJs r
<br /> ''' ' thut I.endcr rcquires. Thc in+uruncc c:►rricr pr�widing thc insuruncc shall bc chu�cn by Aurruwcr wbjcct to Lcndcr's approvul
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<br /> = .,, .,� which yhull not Ne unreu+onubiy withheld. lF snrrc�wcr fails to muintain coveragc deticribed abovc, Lender nury. ut l.�:ndcr's
<br /> ���,�„� opticm, obtain covcragc tc�protcct I.cndcr's rights in tlic Prnperty in uccurduncc with puragraph 7.
<br />— -� All insurnnee policies und renewalr. shall be ucceptable to Lendar and shull include u stundunl mortSuge cluuse. l.ender
<br />�'"-, � shull huvc thc risht to hold thc palicics und ranewals.lf L.cndcr requitm, Hnrrowcr shull prompdy givc to I.ender nll receipts of
<br /> paid premiums und renewul no[icac.In the event oF loss, anrrower shall yi+�e prompt notice to the insurance carricr and L.ender.
<br />;���`�''�J Lendcr mt+y mukc proof af lnss if not made pramptly by Bnrrower.
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<br /> ;�'•'r: Unless Lender and Horrower otherwise ugree in writing. insurance proceecis shull be applied to restoration or repair of the
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<br /> ,i Property damaged,if the restoration or repuir is economically fr.asiblo and I..ender's security is not lessened.If the restorat►on or
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<br /> repair is not economically fcasible or Lender's sccurity would be losse�ied, the insurance procceds sh�ll be applied to t e sum5
<br />-'?��'_� secured by this Security Ins[rument, whetlicr or not then due. with uny excess pnid to Borrower.lf Borrower abandons the
<br /> -__;'"� property, or does not answer widiin 30 dnys n notice from Lender that the insurance currier has offercd to settle a claim, then
<br /> `� '���` Lender nu+y collect the insurar►ce pruceed�. I.ender may use the prceeeds ta repuir or restore the Froperty or to pny sums _
<br /> "'"�S7
<br /> "°- secured by this Securiry Instrument,whetl�er or not then duc. The 30-day period will be6in when thc notice is g►vcn.
<br /> _�`��•, r Unless L.ender und Bonower otherwi�e agree in writing, uny application of proceecis to principal shall not extend ar
<br /> � °' postpone the due date of the monthfy payments refeme�[o in paragraphs I and 2 or change the amount of the puyments. If _
<br />,�..};,�,• —
<br />-_�;j� under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurunce policies end proceeds resulting from �
<br /> -�•� damnge to the Property prior to the acquisition shall pass to I..ender to the extent of thw sums secured by this Security Instrumont
<br /> ---_-*-� immediately prior to the acquisition.
<br /> -- 6. Occupancy, Preservation,Maintenance and Protect[on of the PropeMy; Borrower's Loan Applicatlon; Leaseholdg.
<br />"=���� Borrowe�shall uccupy,establish,and use thc Property as 9orrower's principal residence within six[y days ufter the execution of
<br /> --- this Securiry Ins►rument and shull continue to occupy the Property as Borrower's principal residenee for at least one year after
<br /> the date of occupancy,un(css l.ender otherwise agrees in writing, which consent shall not bc unreasanably withheld,or unless
<br /> v�,� crterivatirg .9r�amstsnces eYiss which are beyond Borcower's control. Bonower shall not des�roy, damage or impuir the
<br /> "� Property, allow the Property to dcteriorate, or commit wuste on the Property. Borrower shall bc►n default ii any forCcitu�c
<br /> -�s�i action or proceeding,whether civil or criminal,is begun that in l.ender's goad faith judgment cduld result in forfeiture of ttx:
<br /> . property ar otherwise muterially impair the lien created by this Security Instrument or Lender's security interest.Borrawex m�y
<br /> cure such a default and reinstate,as provided in paragraph l8,by causing the action or procceding�o be dismissed with a tuling
<br /> that, in I.ender's good faith determinution, precludes forfeiture of tha Borrowec's interest in the Property or ot#►er material
<br /> impairment of t6c lien created by this Security Instrument or I.ender's security interest. Borcowcr shall also be in default tf
<br /> Borrower,during the loan npplication process,guve matcrially false or inaccurate information or statements to I.ender(or falltd
<br /> to provide Lcnder with nny material information) in conncction with thc loan evidenced by the Note, including,but not limited _
<br /> to,representatians concerning Bottower's occupancy of the Property us a principal residence.if this Security Instrument is on a
<br /> leusehold, Bonowe: shall comply with all the provisions of thc lease. If Borrower acquires fee tide to the Property, the
<br /> leasehold and the fee tide shull not merge untess L.ender agrees ro the morger in writing.
<br /> 7.Protection ot I.ender's Rigl�ts in the Property•If Borrower faits to perform the covenants and agreements contained in
<br /> this Security Instrument, or there is a legal proceedi�8 thnt muy si�niticantly affect Lender's rigMs in the Property(such as u
<br /> proceedfng in bunkruptcy,probute, fur condemnution or forfeiture or to enfotce laws or regulations), then Lxnder may do and
<br /> pay for whntever is neoessary to protect the value of the Property and Lender's rights in the Property. Lendet's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument,appearinb in court, paying
<br /> — _-= rcasonable attarneys'fees and entering on the Property to make repairs. Although Lender muy take action under this paragraph
<br /> 7,i.ender does not have to do so.
<br /> Any umounts disbu�sea by L.ender under this parngr:�ph 7 shall become additional debt of Borrower secuted by this
<br /> Security Instrument. Unless Borrower and L.ender agrec to other terms of payment, these amounts shall bear interest from the
<br /> ��-- date of disbursement at thc Notc ratc and shall be payable, with interest, upon noticc from Lendcr to Borrower requesting
<br /> "� payment.
<br /> � 8.Mortgage Luurance. If Lender required mortguge insurance as a condition of making the loan secured by this Security
<br /> Instrument. Borrower shal{ pay the premiums required to mt�intnin the mortgage insurance in effect. If, for any mASOn, the
<br /> -- _= mortgage insurance coverage required by Lcndcr lapses or ceases to be in effect,Borrower shall pay the premiums rcquired to
<br /> �_;;�� obtain coverage�ubstantially equivalent ro the mongage insurance previously in effect,at u cost substantialty equivulent to the
<br /> __=.�;v� cost to Bonower of the mortgage iusurznce previously in effect, from an alternate mortgage imurer approved by Lender. If
<br /> �'=A�xw substantially equivalent mortgage insuranee coverage is not available. Borrowe�shall pay to Lender each month a sum equal tv
<br /> --��� one-twelfth of the yearly martguge insurance prerniu�n b�:ing paid by Bonower when the insurance roverage lapsed or ceased to
<br /> `'``1'�-� be in effect. L.endcr will accept,use nnd retain these puymcnts as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> ._.:.:�,::�.�
<br /> �»;;_,_��� Form 3028 9/90
<br /> ,':�h.�' 'Ky_ Pope 3 oT 6
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