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<br /> 97— 1G�►s o
<br /> 5. Hazvrd or Nroperty Insurance. purrawcr shall kccp thc improvements nnw cxititin�; or hQreaftcr crcYt�n thc
<br /> Pruperty insured uguinst luss by firc, hurirds includ��i within thc tcnn "cxtended rovcragc" and .uiy othcr hw:�rds, including
<br /> fliHxlr or fl�xxiing, fi�r which I.cndcr reyuirr� insu�ancc.Thiti in.urancc shall hc maintaincd in thc amounty und for thc pc�iocis
<br /> ihut l.c�xier rcquircs. Thc iasurancc curricr providing thc inyurancc shall hc chnsrn by Borruwcr ,uhject tn Lendcr's appruvnl
<br /> whirh tihaU not hc unreayonably withhcld. If Burmwer L•�il�t�► malnlnitt cover.i�t dc�criticd abm•c. LcnJcr may. at Lcndcr's
<br /> c�ption.ubtain cuvcrage to protect I.eixler's rights in the Property in uccordunce with par,�braph 7.
<br /> All insurnnce policies und renewulti shall be acceptuble ta Ixnder iind shull include u ,tun�rd mortgage cluusr. Lender
<br /> sI.�111�n.,�.t��.:ob�r.. IA wl` Ii..s........�:�C�'' ::�._a_..�.._..:_.. e.
<br /> .�....° �e.» F�....��«..» «•.,. •........ ...y����,.,,.,��...:�� ,LuL'�,���n�Niiy give w iwnurr uii rccetpts ot
<br /> paid premiums and renewal ratices. In the event af lass. Borrower shull give prumpt �tice to the insurance cunier and Lender.
<br /> Lender may make prouf of loss if not n�de promptly by Borrower.
<br /> Unless l.ender and Dorrowcr othenvlsa ngrce in writing,insurnnce pmoceds sh.ill bc� applicd ta restoration ur rcpair of tha
<br /> Property durnaged,if tha restoradan or r�cpair is eronomicaUy fcasi6ld and Lender's security 1s not lessened.If tha rcstorution or
<br /> repair is not economically fcasible or Lendor's securiry would be lessened,the insurance proceeds shull be applied t�the sums
<br /> ser.ured by �his Security Instrument. whether or not then duo, wlth any excess paid to Borrower. If�orrawer abandons tho
<br /> Property.or does not cinswer within 30 days a notice from Lender thut tho insumnce cnrrier has uffered to settlu a cluim, then
<br /> Lender may collect the insurana proceeds. l.ender may use tho proceods [o repair or restore the Property or to pay sums
<br /> serured by this Security Insuument,whether or not then due. Tha 3Q-day period�viil Ibegin when the notice is given.
<br /> Unless l,ender and Borro�ver othenviss agrec in writing, any applicatiu�► uf proceods to principat shall not exter�d or
<br /> postpone the due date of thc manthly paymcnts referred to in p:�ragraphs 1 and 2 or change the :uiwunt af the payments. If
<br /> uncier paragrnph 21 th�:�roperty is acquired by I.ender, Borrower's right to any insurance polfcies and proceeds resulting from
<br /> damage to the Properry prior ro the acquisition sh�11 pass ro Lender to the exrent of the sums secured by thts Security Instrument
<br /> immediately prior to the acquiaition.
<br /> b•Occupancy,Preservadon,ll9Aintenarwe And Protection of the Property;Borro«•er's Loxn Applicstion;I.rasehotds.
<br /> Borrower shall occupy. �stab8sh.ar►d use the Property as Borm�ver's principal residence withtn sixty doys after the execution of
<br /> this Security Instnunent and shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupancy, unless i,ender otherwise agrces in writing. which consent shaU not be unreasonubly withheld, or unless
<br /> extenuating circumstances exist which erc beyond Borrower's conuol. Borrower shall not destroy. damage or i�.pair the
<br /> 1�roperty. nllow the Property to deteriorate. or commit waste on d�e Property. Borrowor shall be ln dofault if any farfeiwre
<br /> ection or proccedIn¢, whuher�iv���s�ri��, i��SLn ih�L ist i,cs:dcr's gaatt t'aitt;3u�ig:iw�it cvuiu cosulc in fbrfaitune oi the
<br /> Property or otherwlse materially impair the lien created by this Security Instrument or Lender's security interest. 8ormwer may
<br /> cure such a default and reinstate.as p�vvidod In pAragrnph 18.by causing the uction or proceeding tu 6e di�missed with a ntling
<br />. that. in Ltnder's good faith determinadon. precludes forfoiture of the Borrower's intere�t in the Pmperty or other material
<br /> impaimxnt of the lien cna!ed by�his Seruriry Instrument or Ixnder's security tntereu. Earnnwer shall also be in default if
<br /> Borrower.during the loan applicatfan pruoess.gave materially falsa or inaccumtcs inforniation or statements to[.ender{ar failed
<br /> to provide Lender with any muorial infom�adon)in connection wlth the loan evfdunced by the Note,including,but not limitad
<br /> to,representations ooncxrning garrower's oceupancy of tho Pcoperty as a princip�l msidence.If this Securiry Instrument is on a
<br /> leas�hold. Borrow�r shall comply with all che provisions of the lease. If Hamower ecquires fce title W the Property. the
<br /> leasehold a�xl the fa title shall n�t merge unless L,ender agrees to the mergor in wrlting.
<br /> 7.Protectbn o[Ixnder's Rights In the Property.If Barrower fails to perform thc covenants and agroements contained In
<br /> thfs Securiry Instrument. or there is a legal proceeding that may significantly affect Lender's r�ghts in the Properry(such as a
<br />_ proceeding in bankruptcy,probate,for condemnapon or forfeituc+e or to enforce laws or regulaHons). then Lender may do and
<br /> pey for whatever is necessary to protect thc valua of the Property and I.ender's rights in the Property. Lender's ections may
<br /> include paying any sums securod by a lien which has priodty over this Security Inun►ment, appea�ing in court� payinR
<br /> msonabl�attorneys'fees and entoring on the Propeny to make nepairs,qlthough I.enda rnuy �eke actfon under this paragraph
<br /> 7,L,ender does not have to do so.
<br /> Any amounu dis6ursad by Lender under this parag�aph 7 shall bxomc additional debt of Borrower secvred by this
<br /> Saurity Instmment.Unless Dorcower and I.cnder agra to ather terms of payment, these amounts shal�bear interest from the
<br /> date of disburxuxnt ut the Note rate and shall be payable, wich interest. upon notice from Lender to Borrower requesting
<br /> pryment.
<br /> 8.Mortgage L�curaixr.If Lender required mortgage insurance as a cond[tion of making the loan secured by this Soeurity
<br /> Instrument, Borrower shell pay the premiums requi�ed to maintain the mortgage insurance in effect. [f. for any rrason, the
<br /> morcgage insurance cover�ge requiral by Lender lapses or ceases to be ln effoct. Borrowcr shall puy the premiums reyuirod to
<br /> o6ta�n mverage substnntially equivalent to the mortgage insurance previously in effect.at a cost substandally equivalent to the
<br /> cost to Borrower of the mortgage insurenee previously in effect, from en nitemate mong�ge insurer appmvod by Lender. If
<br /> substanti�lly equivalent mortgage insuranoe coverage is not avail•rble,Borrower shall pay to Lender each month a sum equal to
<br /> . one-tweIfth of the yearly mortgage insur,u�ce premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effcct.Leader W ili accept,use and retain these payrt►ents as a loss reserve in tieu of mortgage iruurance. Loss reserve
<br /> Fwm 3028 9/90
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