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<br /> 5. H��.urd or Pro�xrty Imuruncc. Rattowcr ,hull kccp thc impruvcntcnt� nuw cxi�ting an c�rc;►Itcr rrccicd un �hc
<br /> pru}xny insw�d ag:iin+t lu,. hy lirc, liaiurd, includrd �vithin U►r�crm"cxtcn�lcd covcrugc" imd ;�ny nthcr h;virrd�. inclu�Ung
<br /> Il�xKls nr flaxfing. ti,r whi�:h l.cndcr rcyuir►s imurunrc. Thiti insurancr+Icdl hc maiutnincd in U►c �m�auntti and li�r thc �xri�xlti
<br /> tlnu l.cndcr rcyuir... 'Phc in,�u-ancc c+u•rier PruviJing tiic in,ur�uirc,hidl br rhuticn hy H�,rri,«cr �uhjrct tu IAIIIIIP�� :ipprnviil _
<br /> whicl� ,hall nut bc unrcas�mahly withhrld. (f' Horruwcr failti to �yiaintum ci,vcragr dcycrib�.l ubuvc. l.rndri ma>. at Lcncicr's
<br /> optiun,obtuin covcrugc tu pn,tect l..cndcr's ri�;hts in thc 1'roperty in uc�:nr�luixr with p.u•ugraph 7.
<br /> All insuruncc puliricx an:l rcncwuls shull tx acccptuhlc to l.cn�lcr and tihall includc u �tandard murtgugc rlau�c. l.cndcr
<br /> shull have the right ta hold the paliric�unJ rcncwals. If I,cndcr rcyuires. B��rPUwcr�h.dl prumptly �;ivr tu L�ndcr ull rcrcipts uf
<br /> paid prcmiums und rencwid noti�rs. In thc cvcnt of lass,Barrowcr shull give prampt nuticc tu thc in.ur.�ncc currirr.ind l.cndcr•
<br /> I.cnder may makc prouf nf loss iF n�t madc promptly by Borrowcr. _
<br /> Unless l.ender und Borrower utherwixe agree in writing,insurrncc pr�xceJs shall tn:applieJ tu retitor,uion or rcp:�ir of the
<br /> Property damaged.if the restoration or repair is economically fensible and Lender's security is nut Iesscned. It thc retitoratian or
<br /> rcpair is not economlcally fe:�ible or L.endcr's security woutd be Iessened,the insurunce proccecis shuli bc upplie.�f tu thc sums
<br /> • secured by this Security Instrument,whcther or not then duc, with any excess paic ��Borrower. If' Barrower abundon� the
<br /> Property,or daes not unswer withi�30 days a notice finm I.end�r that the insumnce carrier has offereci to seutc a cluim, then
<br /> Lender may calloct the insurance proceeds. I.ender may use the proceeds to repaIr or restore the Propeny or to pay sums
<br /> �c�;ueed by this Sccarity Instrucnent.�Yhether or not then due.The 30-�iay period will bebin wl�en thc noticc is given.
<br /> Untess Lender and Borrower otherwise agrce in writing. any epplication of prnceeds to principal shall not extend or
<br /> postpone the dua date of the monthly puyments referred to in paragraphs l and 2 or change the nmount of tl�c paymenrs. If
<br /> under paragraph 2l the Ploperty is acquired by Lender, Horrower's right to uny Insurunce policies and proceeds resulting fram
<br /> damage to the Property prlor to the ncquisitlon shall pass to Lender to the extent of the sums securod by this Saurity Instrument
<br /> immediately priar to the acquisidon.
<br /> 6.Oocupancy, Prese�'�'�tion,Mstntens►nce and PirotecUon of the Property; llorruwer's Loan Applicatlon;Leasehotds.
<br /> Borcower shall occupy,establich,and use the Property s�s Barrower's principal msidence within sixty days after the execution of
<br /> • thts Security Instrument and shall conttnue to occupy the Property us Borrower's principal residence for at least one year.after
<br /> the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld. or unless
<br /> ' ext�nuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy. damage or impair the
<br /> r��;3, �;���,; ;,��pi4�•ny t�de�eriorate. or commit waste on thc Property. Borrawer shall lx in defauk if any foirfeiture
<br /> � action ar proceeding,whether civil or criminal, is begun that in I.ender's good faith judgment could resutt in iorieicure of iiu
<br /> Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br /> that. in I.ender's goad fatth determination, precludes forfeiture of the Borrower's interest in the Property or other mater�al
<br /> • impainnent of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> Borrower.during the loan appllcation process,gave materially false or inuccurate inforniation or statements to Lender(or failed
<br /> to provide Lender with any matorisl informatton)in cotuiection with the lonn evidenced by the Note.tncluding, but not Itinited
<br /> z to,representations concerning Bonower's occupancy of the PropeRy es a pdncipal residence.lf this Security Instiument is on a
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property. the
<br /> leasehold and the fee title shall not merge unless Lender fr��er failsgro�n rform the covenants and agreements containod In
<br /> 7.ProtcxHon of I.ender's Rights in the Prnperty. Pe
<br /> this Sec�crity Instrument. or there!s a legal proceeding that may significantly affect l.ender's rights in the Property (such as a
<br /> � procceding in banlcruptcy.probate,fnr condemnation or forfeltun or tu enfora lews or regulat�ons). then Lencier may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's dghts In the PropertX. Lender's uctions may
<br /> � include paying any sums secureci by a lien which has prioriry aver this Security Instrument, appearing in court. paying
<br /> ` reasonuble attorneys'fees and entering on the Property to make repairs. AlthouSh Lender rnay take action under thia parngraph
<br /> �` 7,I.ender dces not have to do so.
<br /> �. Any :unounts disbursed by Lender nnder d�is parsgraph 7 shall become additional debt of Bonower secured by this�
<br /> - Security Insuument. LJnless Borrower and Lender agree to other terms of payment,these amounts shaU bcar interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest. upon notice from Lcnder to Borrower roquesttng
<br /> , payment.
<br /> 8.MoRgage Insurance.If Lcnder required mortgage insurance as a condition of making the loan securod by this Scxurity
<br /> � Instrument. Borrower shall pay the premiums cequired to maintain the mortgage lnsurance in effect. If, for any reason, the
<br /> mortgage insurance coverage requtred by Lender lupses or ceases to be in effect, Horrower shall pay the pnmiums required to
<br /> obtain covera�e substantiully equivalent to the mortgage insurance previously in effect,ut a cost substantially equivalent to the
<br /> cost to Bonower of the mortgage insurance previously in effect, from en alcernate mortgage insurer appmved by I.ender. If
<br /> substantially equivalent mortgage insurance coverage is not nvailable,Ba�rower sltal! pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurar►ce premium being paid by Bonower when the tnsurance coverage lapsed ar ceased to
<br />�— be in effect.Lender wlll accept,use and retain these payments as a loss reserve in lieu of mortgage insurence. Loss reserve
<br /> Form 3028 8l90
<br /> P�ge 3 of 0
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