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<br /> 5. H�rd ar Properly lrnwnnce.�rrower sh�ll kap the improvements nnw�sting o?heren��c�o�n the
<br /> Praperty insurecf agalnst loss by firc, hivards includcd within the terni "extended covcrage" and uny othxr hazurds, ii�luding
<br /> tlaxic or Ilaxling. for which Lc�xlcr requlrcs insurunce.This insuru�xe shall be maintuincd in thc amaunts and for the period�
<br /> that I.cndcr requires. The insurance carrier ptaviding thc insurance shall bo chosen by Borcowcr subject to Lencier's approval
<br /> which shall not be unr+easanubly withheld. Ii Borrawer tafls to muintain coveroge descRbed abuve, I.ender muy,at Lender's
<br /> uption,obtain coverage to protect Lender's rights in the Propary in accardance with puragraph 7.
<br /> All insurance poticles and renewala shall be accepuble to Ixnder und shall include a standard mortgage clause. I.ender
<br /> shall havc thc right to hold thc policies and rencwals.lf Lender requires,Barrower shall promptly give to Lendcr�ll receipts of
<br /> paid prcmiums and renewal noHces.In thc ev�nt of loss.Borrower rhall givc prompt notice to thc insurance carrier und I.endcr.
<br /> Lender may makc proof of loss if not made promptly by Bonower.
<br /> Unless I.ender and Borrower utherwise agree in writing,insurance procceds shall 6e applied to restoration qr reprtir of the
<br /> Prope�ty d�maged.If thc restarution or repair is xonomically fcasiblc and Lender's security is rat lessened.If the nstoration or
<br /> rcpair is not ecunomtcally feasible or I.snder's security would bc IeSSened,the insurance proceeds shull be upplted to the sua�s
<br /> saured by this Security Instrument, wtxther or not then due, with any excess paid to Borrowor. !f Borrower abandons d�e
<br /> Propcny.ur does�x�t answer within 30 days a notice from Lender that the inst►rnnce�rrier has offercd to settle a claim, then
<br /> L.ender may collect the insurrnce proceeds. Lender may use the praoeeds to repair or restorc the Property or to pay sums
<br /> socurod by this Security Instrument,whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing. any applicatIon of proceeds to principal shall not extend or
<br /> postpone thc duc date of the monthly payments referrai tcs in paragraphs 1 and 2 or change the amount of the paymcnts. If
<br /> under paragraph 21 the Propeity is acqui�d by I.ender. Bonower's right to any insurance policies and proceeds resulting fircxn
<br /> damuge to the Property prior to the xquisitian shall pass w Lender to the exrent of the su.ms securod by this Security I�u�um�nt
<br /> jmmediately prior to the acqulsidon.
<br /> 6.Occupnncy,�rvation, Matntenanec and Protection o[tLe Property; Bornower's I.oan Applkation;I.easehdis.
<br /> Barrower shall occupy. establish. and use the Property zts Borrower's principal residence within slxty days after the ececudon of
<br /> this Security Instrument and shall continue to occupy thePraperty as Borrower's principal residence for at least ooe year after
<br /> the date of occuaancv, unle.cs[.e�xler otherwise aerees in w ridnQ.which cansent shaU not be unrtasonablv witbheld. or unless
<br /> extenuadng clncumstanas exist which are beyond Bortovier s oontrol. Borrower shall not dest�+oy. clamage or impalr the
<br /> Property, allow the Property ta deteriorate. ar commit waste on the I'ropercy. Sorrower shall be in default if any fort'eitune
<br /> actian or pn►vead'eag, whether civil or criminal. fs begun that In Lender's good faith judgment could result in forfeiture of�kie
<br /> P�upeity or otherwise materially impair the lien created by this Security Instrument or Lender's sacuriry in:erest.Bomower m��•
<br /> cure such a default and reinstatc, as provldod in paragraph I S,by causing thc action or proaeding to b�dismissed with a ruling,
<br /> thai, in Lender's good faith determination. precludes fbdei►ure of the Borrower's i�terest in the Property or other mate�ia�
<br /> impairment of the lien created by thls Securiry Instrument or Lender's securiry interest. Borrawer shall also be in defautt if
<br /> Borrower,d�uing thc[oan application prooess,gave materially false or inaccurate information or Atatements io Lender(or failed
<br /> to provide Lender with any material information)in connoction with the loan evidenced by the Note.including.but not limited
<br /> to,npnesentations conceming Borrower's a:cupaney of the Property as a principal rrsidena. If this Security Instn�ment is on a
<br /> leasehold. Bomnwer shnll compiy with all the provisions of the lease. If Bonower acquires fet title to the Propaty, the
<br /> lasetald and thc fee title shait not mergc uNess Lende�agrees to the merger in writing.
<br /> 7.Protect�on of Lender's Rishts in t6e Property.lf Bomowor fails to p�rForm the covenant�and agmments contained ir.
<br /> , this Security Instrument,or there is a Ic�al proceeding that may significantly affect Lendor's rights In the Property(sucb as a
<br /> proceeding in bank�uptcy,pmbate,for condemnation or forfeiture or to enforoe laws or regulations).then Leider.may do ar�d
<br /> � pay fur whatcver is necessary to protect the value of ttie Property and Lender's rights in the Propecty. Lcnder's e��tions mny
<br /> include paying any sumc secured by a lien which has priority over tl�is Security InstNrnent, appearing ia caurt, paying
<br /> , reasonable attomeys'fexs and entering on thc Property to make repairs.Although i.ender may take action under this pangraph
<br /> ; 7,L.ender does not have to do so.
<br /> f Any amounts disbur�c,d by Lender under this paragraph 7 shall bccome additional debt of Borrower savred by thts
<br /> ; Security Insuument. Unless Bomower and Lender agree to other temu of payment,these amounts shall bear interesi fmm the
<br /> , date of disburscment at the Note rate and s6all be payable,with ir�terest. upon notice ftom [.znder to Borrower requesdag
<br /> • payment.
<br />�F B.Mortg,oge Insurance.If Lendec rcquired mortgage insurance as a condition of m�aking the loan secured by this Securiry
<br /> Instrument, Borrowcr shail pay thc premiums requimd to mairttain the mongage insurance in effect. If. for any reason. the
<br /> mortgage insuranoe mverage rcquircd by Lender lapses or ceases to be in effect, Borcower shall pay the premiums requirod to
<br /> obtai��roverage substantielly equivalent to the mortgage insarance previously in effect,at a cost substantially equivalent to the
<br /> cost to Borrower of the mortgage insurdnce previously in effect,from an ultemate mortgage insurer approved by Lender. If
<br /> � substancially cquivalent nwrtgage insurance coverage is nat available.Borrower sh:ill psy to Lender each nwnth a sum oqual to
<br /> ": onc•twelfth of the yearly martgage insurance pnemium being paid by Borrowcr when the insurance coversge lapsod or aasod to
<br /> be in effect. Lender will Acccpt,use und retain these payments as a loss reservc in lieu of mortgage insuranoe. Loss reserve
<br /> Form 3028 9/90
<br /> Paq 3 0l b
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