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<br /> S. H�urd ar Rroartrty Itx�urance. Hottawcr shall keep thc impravements now existing or hereafter erectcd on ►ho
<br /> Propeny insured again.rt lass by Gre, ha�.ards IncludcA wlthin the term"extendod covcrage" und any othzr huzards. including
<br /> 1loods or tloaling,far whtch Lxndcr requires insurance.This insurancc shall be maintain�sd in thc nn+ounts and for the�edals
<br /> that Lender requires. Tho insurance cattier prav[ding tho insutance shAll be cho�en by Barrawer subjcet ta Lender's npproval
<br /> whlch shull nat bt unrcasonably withheld. if Borrower fsils to maintain coverngc described above, Lender may, at Lender's
<br /> option,obtain caverage ta protc�;t[.e►►Jer'e;rights in thc Prop:;rty ln a�cardanee�vIth para�rnph 7.
<br /> All insurance policies and rcnewals shall be acc�pteble to i.ender and shall include a stnndard mortgAge clause. l.ender
<br /> shall havc thc right to hald thc policies and renewals.If I.ender requires,aorrower shall prompdy glve to L.cnder all reccipta of
<br /> paid premiums and renewol notices. In the event of loss.Borrower shall givc prompt notfce to the insurnnce currler and I.ender.
<br /> Lender mny make proof of loss if not made promptly by Borrower.
<br /> Unles:�Lender and Barrowcr atherwise ugrce in wtiting,insurance procecda shall bc applied to restoration or repair of the
<br /> Properry damaged,if the restaiation or repair is economirally fea�ible m�d Lender's securlty is not lecsened.If the restoration or
<br /> repair is not economically feasible or l.ender's securlry would be lessened. the insurance proceeds shull be upplied to the sums
<br /> secured �y thiF Securiry Instsument, whether or not then due, with any excess paid ta Borrower. if Burrower absindons the
<br /> Property.or does not answer within 30 dpya a notice from I.ender that the insurnnce carrier has offered to settle a claim, then
<br /> Lender rnay collect the insurance proceeds. I.ender mny use ths proceeds to repair or restore the Property or to pay Fums
<br /> secured by this Security Instrument,whether or not then due. The 30-day period will begin when the notice is given.
<br /> Unless I.ender and Borrower otherwise agree in wdting, any application of procads to principal Fhall not extend or
<br />• posipane the duc date of the monthly payments referrod tn in parngruphs 1 and 2 ar change thc au�uuut of the paytntne�. If
<br /> under paragraph 21 the Property is acquiral by Lender. Borrawcr'x right to any insuranc:c poUcies and proceod�+resulting frum
<br /> damage ta thc Praperty prior to thc ucquitild�m Fhull puxy�n I.ender to the cxtcnt af thc sums�sccural by thiy Saurity Instnrment
<br /> immediwtely priar to the ucaui�iti�n.
<br /> 6.Occup�ncy�PraK°rv�tinn, 4Ns�lntrnwnce wnd I�ritectinn ot�h�i�n�pert�i ��w�er'e I.iu�n Applk�tlon;l.ra�ehald�.
<br /> Hc�rn►wer hhrU c�rcupy,cstabli�h,wnd uxc Ihe Pr�►peny u.r tk�rrower'x prhxipul�ryidence within eixty duyx uRcr�ho exctiut(on uF
<br /> thiw Sa:urlty Instrunxnt ui�l KhaO contlnua R���xcupy the Nruperly uw Ekirmwer'x prhx:ipul residence far ut le�t c��w yerr wfter
<br /> ' thc d�tc cif occupancy,unlc�e l.endcr cithcrwi�c u�rax in writing. whfnc�anunt ahull nat be unreusunably withlkW, ar unles�
<br /> extenuating circumstan�:cs exist which are boyond li�irn+wer'x cuntrcd. Burrawcr tihall nnt destroy, damage ur Impnlr the
<br /> Property, allow thc prceperty ta detcriorate. or commit wa.�tc on the Property. Borrowcr e;hall be in default if any f�rfe[ture
<br />` actiun ar procoeding, whether civil or crlminul, i�begun thut In [.endor's good fsith judgment could result in forfelture of the
<br /> ` Pcoperty or otherwise materially impair the lien ereatai by tnis�ecurity Inscrumeni or i.cn�icr ti�«:ur3ty in�ersi.�sraus:�.s�
<br /> - cure�uch a default and reinstnte,as provided in paragrnph 18,by causing the action or praceeding to be dismissed with a ruling
<br /> ,� that, in Lencicr's good fulth de!erminatton, precludes forfeiture of the Borrower's interest in thG Propert,y or other matcdal
<br /> �• jmpairnxnt of the lien crea►ted by this Security Insirument or I.cnder's security Interest. Borcower shaU also be in default if
<br /> - Bonower,during the loan applicatlon process,gave materiully f:.lsc or inaccurate Informattan or statements to L.ender(or failod
<br /> = ta provide Lender with any matedal infornuidon) in connection whh tlie loan evidencdd by the Note,including.but not Ilmltod
<br /> ,� to,reprcsentations concerning Borrower's occupancy of the Property as a principal resldence. If this Securiry Instrument ie on s
<br /> ; leasehold, Borrower shall comply with all the pravisions of the lease. 1f Borrower acquires fee dtle to the Property, the
<br /> � Icasehold and the fce tiNe shall not merge unless L.cnd�r agreeg to the n�crger in writing.
<br /> - 7. Aotectton of I.ender's Rfghts In the Property.If Bor�owcr fs31s to perfarm the covenants and agrcements cantainai in
<br /> this Securlty Instrument. or thete is a legal proceeding that rnay significantly affect Lender's rights in the Property(such as a
<br /> ` proceoding in bankruptcy.probate, for candemnuNon or forfeiture or ta enforce lawe or�gulations),then Lender may do arsd
<br /> ; pay fur whatcver is n�essary to protcct the vnluc of the Property nnd C.ender's dghts in the Property. I.endcr's actions may
<br /> t include paying any sums secured by a lien which hns priority over this Se�::�r�ty Inst[ument, appearing in court, paying ,
<br /> i reasonable attorneys'faes end entering on the Property to n1uk�repairs.Altl�ough Lendcr may take action undcr this pAragraph
<br /> 7,I.ender does not have to do so.
<br /> � Any amounts disbursed by i.ender under thls paragrnph 7 shull ba;ome additional debt of Bornower secured by this
<br /> ' Sec;urity (nstrument. Untess Borrower and I.ender agree to other terms of payment. d�ese amounts shall beur intcrest fmm the
<br /> ? date of disbursement at the Note ratc and shall be paynble, with interesc. upon notice from Lender to Borrow�r roquesting
<br /> payment. .
<br /> � 8. Mortgi►ge Insurance.If L,ender reyuired mortgage insurance as n co�xiitlon of mnking the loan secured by this Socurity
<br /> � Instrucnent, Borrower st�all pay the premiums required to maintain the martgage insurance in effect. If, for any reaso�►. the
<br /> F mortgage insurance wverage required by Lenrlcr lapses or ceases to be in effect,Borrower shall puy the premIums required to
<br /> obtain caverage substantlnlly equivalcnY to thc mortgage insurnnce prcviously in effc;�t,at a wst substantially equivalent to the ;
<br /> • cost to Borrowcr of the mongage insurnncc previously in cffect, from an alternatc mortgage insurer appruved by I.ender. If
<br /> substantiully equivalent rnnrtgnge insuruncc coveruge is not uvailable,Banower shall pay to Lender euch mohth a sum equ�l to
<br /> � one-twelfth of the yeerly mortgage insurance prernium being paid by Burrower when the insurunce coveruge Ic�psed or ceased tn
<br /> be in effcct.Lcnder will uccept,use und recain these payments as a loss rescrve in I{eu of mortgage insurance. Lass reserve ;
<br /> ' Form 3020 9/90
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