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<br /> ��•• 1U'7383
<br /> g, li�wrd or Ftoperly I�uu�.Borrowct shall k�ep thc improvemen�s �existing or hereaRcr ercrted o� tho
<br /> Property insurcd again�t iUSS by Gre,hazuds included wl►hin the torni "extendod coverage" and uny other haaardw, including
<br /> fl�mds or Aoading,for whtch l.cnder requircs insuraixe. This insurnncc shall be muintulnod in the umounts ancl for the perlods
<br /> that Lctxler rcquircs. Tha insurancc canier pruviding tiie intiuruncc shuU Ix:ci�o�cn by Borrowcr subJcct to Lcnder's appmvel
<br /> which shall nat be unrcasonably withheld.If Borrower fiils ro maintain cuverage descdbed abave, Lender may. at Lender'b
<br /> option,obtnin mverage to protect[.snd�r's rights in ihe Propeny in accordance with parugraph 7.
<br /> All insuranco polici�s wid rcmwrtls ahall be acaptable to Lender and shall include a standord martgage clause. I.etxkr
<br /> Ehall have tho right to hold tho policics utd renewals,lf I.ender requires.Borrower shall promptly give to Lender all receipts of
<br /> paid premiums and rcnowal noticcs.In the evmt of loss. 8orruwcr shall give prompt noticc to the insurance carr(er snd[,cnder.
<br /> Lendtr may make proof of loss if�wt made promptly by Borrower.
<br /> Unless I.e�der and Bortower otherwise egrce in writing.insurence proceods shall be applial to restomtfan or t�epuir of the
<br /> Property damaged,if the restoration or npair is ecaramically feasible and Lender's sxurity is not lessened.If the re:storadon or
<br /> repair is not economically feasibla ar Lcnder's security would be tessened, the insurar�ce proceeds shaU be applied to the sums
<br /> secured by this Securlty Irutcument,whether or not then due, with uny exass paid to Bonower. If Borrower abandons ihe
<br /> Pmperty.or does not answer within 30 days a notice fi+nm I.ender that the insurnnce carrier has offered to setde e claim. then
<br /> Lcnder may rnllect the insuranoe procads. Lender ms�y use the pmceeds to repair or rcstare the Property or to pay sums
<br /> secured by this Socuriry Inst�ument.whether or not then due. Thc 30�duy period wiIl begin when the natice fs given.
<br /> Unless T.ender and Bocrower othanvisc agrce in wdting, any application of procoeds to principal ahall not extend or
<br /> postpane the due da.te of the monthly pnyments referced to jn paragruphs I and 2 or change the amount of the payments.If
<br /> under paragraph 21 the Property is acyuircd by Lender. Borcower's right ro any insurance policies and procwds result�ng tmm
<br /> damage to ttie Praperty prior to the acquisitlon shaU pass ta L.ender to the extent of the sums securod by this Secudty Instnrment
<br /> emmodiately prior to the acquisit�on.
<br /> 6.pccup�ncy, I'reserv�tion, Ma[ntenance and Protection of the Ptnperty;Botrower's I.o�Applkatlon;Leageholds.
<br /> Bormwer shall occupy,estublish,and use the Property as Borrowr�'s pr�ncipal residence within sixty days after the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Horrower's princtpal rcs�dence for at least one year after
<br /> the date of occupancy.unless Lender otherwise agras in writing.which consent sball not be unrea�c�nably withheld,or unless
<br /> eatenuating circumstances eaist which are beyond Horrower's control. 8ormwer shall not destroy. darnage or impair tt►e
<br /> Prope�ty, allow the Prope►ty to deteriorate. or commtt waste on the Property. 13onower shati oe in deiaulc if any forFeiiuc�
<br /> action or procealing.whether civil or criminal, is begun t�at in I.ender's good faid�Judgmeat could result in forfeituce of the
<br /> Property or otherwise matedally impair the lien created by this Sxurity Instrument or Lender's socurlty interast.Borrower may
<br /> eure such a dofault and rcinstate,as provided in paragraph 18,by causing the act�on or proceeding to be dismissod with a ruling
<br /> � that. In Lender's good faith determination. preclades fodeiture of th�Borrower's Inte�+est in the Propetty or other tnaterial
<br /> impaim�rnt of the lien creatod by this Sauciry Instruznent or l.eoder's socurity interest. Bomower shall also be in default if
<br /> Horrower,duting the loan application process,gave materielly false or inaccurate informatton or atauments to Lender(or f�uled
<br /> to providB L•ender with any material intomaation)in connection with the loan evidenad by the Note,inctuding.but not limited
<br /> ta,representations conarning Borrower's occuF►aancy of the Property as a principal residence.If this Security Instrument ts on a
<br /> leasehold. Borrower sha11 comply wlth dl the provisions of thc lease. If Bonower acquir�s fee title to the Prope�ty, the
<br /> leasehold and the fee dtle fihall not ttkrge unless Lender agrees to the merger in writing.
<br /> 7.Protectbn ot Lender's Rights in the Propaty.If Bormwer fails to perform the covenants and agcr,�mec►ts contained in
<br /> this Security Instn�ment, or there is�]egal proce�ding tl�t may significantly affect Lender's rights in the Property(such as a
<br /> pra�xeding tn bankruptcy,probate.�for condemnation or forfeitun or to enfon:e laws or�gulatior�s).then Lender may do and
<br /> ' pay for whatever is neoeaa�ry to protect the value of the Praperty and Lender's rights in the Property. Lender's actions may
<br /> include paying any sum� socured by a Nen which has prIority over this Security Instrument, appearing in court, paying
<br /> reasonable attorneys'fees and entering on the Propeny to makc repairs.Although l.ender may take action under this puagraph
<br /> 7,T,.ender does not have to do so.
<br /> Any amounts disbucud by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instnunent. Unless Borrower and L.ender agrce to other terms of payment.these amounts shall bear interest from the
<br /> date of dlsbursement at thc Note rnte and shali be payable. with interest, upon nodce from Lender to Borrower roquesting
<br /> payment.
<br /> S.Mo�tgAge Inwraner.If Lendcr ra9uired mortgage insurance as a co�xlition of making the loan secured by this Secudty
<br /> Instrument, Borrower shall pay the premiums required to maintain the mortgage insurnnce in effcxt. If, for any reacon. the
<br /> mortgage insurence coverage requirod fsy Lender lapses or ctases to be In effect,Borcower shall pay the premiums requirod to
<br /> obtain coverage substantially tquivalent to the mortgage insurance previously in effect.at a cost substantially equlva(ent to the
<br /> cost to Borrower of tho mortgage insurance previoualy in effcct. from an alternate mortgage insurer approvod by Lender. If
<br /> substantially equivalcnt moctgage insuranoe ooverage is rat availabie,Borrower shull puy to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insur�nce premium bcing paid,by Borrower when the insurance covernge{upsal or oeased to
<br /> be in effect.Lender will aooept,use and retain these payments ac a loss reserve in lieu of mortgage insurnnce. Loss reserve
<br /> fwm 3028 9/90
<br /> Py�3 ot B
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