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<br /> � � 97�/��'��
<br /> S. NAf.�rd or 1'raperty InsurA . Bo�rowcr shull kccp thc impruvcmcnts n cxisting on c�rca tcr crccicc! on thc
<br /> Prnperty f�asurcd uguinst loss by Crc, h�uurds includcd within thc tcrm "extcndeci covcragc" and suiy othcr hu•rArdS,inciuding
<br /> flaxtr�r ilaxiing, for which I.cndcr requires insuranrc. TMs insurunre shull bc maintuined in the amouMS unJ for the peri«!s
<br /> the►t l.rndcr rcquires. The insurmtce carcicr providing the insurunre shull be chosen by Horrowcr subjcct to [.ender'S c�ppr��vnl
<br /> which tihull nc�t tx: unrcasonubly withheld. If 8arrawer fails to maintain mvernge described ubove,l.ender may. �t I..cnder's
<br /> uption,obtain caveruge to protect I.ender's rights in the Property in accordance with puragraph 7. �
<br /> All insurunce polictes und renewids shall bc acceptable ta L,ender and shall include a standard monguge cluuse. Lcnder
<br /> tiiiull huve the right to hold the palfcies and renewals. If Lender requires, Borrawer shull promptly give co I.ender ull receipts of
<br /> pttid premfums nnd renownl notices. In the event of loss, Horrawer shull give prompt notice to the insurance carrier und l.ender.
<br /> I.endcr may muke proof af loss if not mude promptly by Borrower.
<br /> Unless I.ender and Borro�ver otherwise agree in writing, insurance praceeds shall be applied to resxoration or mpair of the
<br /> Pcaperiy dumngul,if the restoratian or repair is economically feasiblc:und I.ender's security is not lessened.If the restoration or
<br /> repair is nat economirully feasible ar[.ender's security would be lessened,the insurance proceeds shnl! be applled to tho sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br /> Property, ar docs not answer within 30 days a nattce from Lender that the insurance carrier hns affered to settle a claim,then
<br /> L.ender mAy callect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> securecl by this Security instrument.whether or not then due.The 30-day period will begin when the notice is �iven.
<br /> Unless Lender And Bonower otherwtse agree in writing, any application of proceeds to principal shall not extend or
<br /> postpane the due dute of the monthly payments referred to in para�phs 1 and 2 or changc the amount of the payments. If _
<br /> under pamgrnph 21 the Propeny is acquired by Lender, Borrower's rlght to any Insurance policies and procee.ds resulting from
<br /> damnge tu the PropeRy prior to the ucyuisitlon shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6. Occupancy,Preservatlon,Maintenance and Protect[on of the Property;Borrower's Loaa Applfcation; I,ea.seholds.
<br /> Borrower shull occupy.establish,and use the Property as Borrower's principal residence within sixty days after t�e execution of
<br /> this Secu�ity Instrument and shall continue to occupy the Praperty as Bosrower's principal residance for at least one year after
<br /> • the dAtc of occupancy. unless Lender otherwise agrees in wrlting. which consent shall not be unreasonably withheld,or unless
<br /> extenuating circumstences exist which are beyond Bonower's wntrol. Borrower shall not destroy, damage or impeir the
<br /> Property, ullow the Property to deteriorate, or commit wastc on the Property. Borrower shall be in default if any forfeiture
<br /> actton or proceeding, whether civil or criminal,is be�un that in Lender's good falth judgment could result in forfeiture of the
<br /> P�opetiy�r Qtherw(se mat?ri?!!y lmpair thP lien created by thi�Security Inctrument or I.ender's security intcrest.Borrower may
<br /> cure such a default and reinstate,us provided in paragraph 18,by causing the action or pro�eeding to be dismissed with a ruling
<br /> that, in I.endcr's good faIth determination, precludes forfeiture of the Borrower's interest fn the Property or other material
<br /> impairment of the lien crcated by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> , Borrower,during the loan appltcation process,gave materiatly false or inaccurate information or statements to Lender(or failed
<br /> ,, to provide L.ender with any material information) in connection with the loan evtdenced by the Note,including,but not limited
<br /> � to.representations concerning Borrower's accupancy of the Property as a principal residencr.. If this Securiry instrument is on a
<br /> leasehofd, 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 agrees to the merger in writing.
<br /> 7.Protectton of Lender's Rights in the Property.If Borrower fails to perForm the wvenants and agreements contaInad in
<br /> this Security Instrument, or there is u legal proceeding that may significantly affect Lender's rights in the Property(such as a
<br /> proceedins in bankntptcy,prabate. for condemnation or forfeiture or to enforce laws or regulations),tlien Lender may do and
<br /> pay for whatever is necessary to pmtect the vnlue of the Propeny and Lender's rights in the Property.Lender's actions rnay
<br /> ' include paying any sums secured by a lien which has priority over thIs Security Instrument. appearing in coud. paying
<br /> ' reasonable attorneys'fees and entering on the Property to make rep�Irs.Although l.ender may take action under this paragraph
<br /> �S 7.L.ender does not have to do so.
<br /> p Any amnunts disbu►sed by Lender under this paragraph 7 shall become additional debt of Borrower secured by thls
<br /> Security Instrument. Unless Borrower and I.ender agree to other terms of payment,these am�unts shal l bear interest from the
<br /> • date of disbursement at the Note rate and shall be payabte. with interest, upon notice from Lender to Borrower requesting
<br /> payment.
<br /> 8.Mortgage Luurance.If L.ender required mortgage insurunce as a condition of making the loan saured by this Securiry
<br /> Inswment, Borrower shall pay ttie premiums required to maintain the mortgage insurance in effcxt. If,fcsr any mason, the
<br /> mortgage insurance coverage cequired by L.ender lapses or ceases to be in effect, Borrower shall pay the premiwns required to �
<br /> obtain coverage substantialiy equivalent to the martgage insurance previously in effect.ut a cost substantially equivalent to the �
<br /> cost to Borrower of the mortgage insurance previously in effect. from an alternate mortgage insurer approved by Lender. If
<br /> substandally equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to
<br /> one-twe(fth of the yearly mortgage insurance pmmium being paid by Borrower when the tnsurance wverage lapsed or ceased to
<br /> � be in effect. Lender wili�►ccept,use and retain these payments as a loss rescrve in lieu of mortgage insurance, Loss reserve �
<br /> Form 3028 9/90 '
<br /> � Peqe 3 018 �-
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