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<br /> �r� �i�9541
<br /> 5. Hn��nnrd or Property In.gunnce. Barrawcr ahall kcep thc Impravements now exlsting on c�rcuf'tcr crcctcd on thc
<br /> Pmperty IitisurcA ugnin5t Inss by firc,ha•r.ruds includcd within thc tcrm "cxtenJcd mvcragc" und uny othcr ha•r.ards. inrluding
<br /> flcHxis or flcxxiing.fo� which Lender requircs insurunce. This insurunce yhall be maintuincd in the umounts and tor the periods
<br /> thut I.e�xler requires, The in�urunce currier providing the lnsuruncc shall be chosen by barrawer subject ta I.ender's appraval
<br /> whlch 5hull not be unre,asanubly withheld.If Borrowcr fuils ta maintuin covcrage describcd ubovc, Lcnder muy, at Lender's
<br /> option.abtain covernge to pratect Lender's rights in the Pmperty ln accordance with parngraph 7.
<br /> All insurunce policles and renewals shall be acceptable to Lender nnd shull include a standard mortgage clause. I..rnder
<br /> shall huve the dght to hold the palicies and renewuls.lf Lender requires,Borrower ahall promptly give to Lender all receipts af
<br /> paid premiums and renewul notices. In the event of toss.Borrower shnll give prompt notice to tht insurance carrler and Lender.
<br /> Lender may mnke proof of loss if nat madc promptly by Borrower.
<br /> Unless Lender and Bonower otherwise asrce in writtng,insurance proceeds shall be applIed to restor;it3on or repair of the
<br /> Property Jumagcd.if the restoration or repair is economically feasible and i.endcr's security is not lessened. iE the restoration or
<br /> repair is no� economically feasible or I.ender's securiry would be lessened,the insurance proceeds shaU be applied to the sums
<br /> secured by this Security Instrument,whether or not then due. with any excess paid to Borrower. If Bonower abandons the
<br /> Property,or docs not answcr within 30 days a notice from Lender that the insurame carrjer has offereci to settle a claim,then
<br /> Lender may coUect the insurance proceeds, Lender may use the proc.ecds to repair or restore the Property or to pay sums
<br /> secured by thls Security Instrument. whether or not then due.The 30-day perlod will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writin�, any application of ptoceeds to prin�ipal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by i,ender. Borrower's dght to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of ihe sums secured by this Security lnstrument
<br /> Immediately prlor to the acquisttton. .
<br /> 6. Occupancy,Preservation�Mxintenance and Pratertion of the Property; Borrower's Loan AppUcation;T.e�seholds.
<br /> Borrower shal�occupy,establish.and use thc Properry as Bonower's principal residence within sixty days atter the executton of
<br /> this Security Instrument and shall continue to accupy the Property as Borrower s principal residence for at leusc one year after
<br /> she date of occaspssscy. unles�lxnd�r oth�nv4se ngr�?s iA wntlAg, whi�h c�ncent �ha11 nnc be unreasonably withheld,or unless
<br />. extenuating circumstances exist which are beyond Borrower's control. Bonower shell not destroy, damage or impatr the
<br /> Prope�ty,ullow the Propeny to detedorate, or commit waste on the Property. Borrower shall be in default [f eny forfeiture
<br /> uctio� or proceeding, whether civil or criminal,is begun thut in Lender's goad faith judgment could result in forfeiture of the
<br /> Property or othervvise materially impair the lien created by this Security Instrument or Lender's securlty 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 Lender's gaod faith determinatlon, precludes forfe3ture of the Horrower's tnterest In the Property or other material
<br /> impairment of the lten created by this Security Instrument or Lender's security inlerest. Borcower shall also be in default If
<br /> Bonower,during the loan application process.gave materially false or inawurate information or statements to Lender(or faited
<br /> to provide Lender with any material infonnation)in connectton with the loan evidenced by the Note.including,but not limited
<br /> to,representations concerning Borrower's cecupancy of the Propeny as a principal residencs.If this Security Instrument is on a
<br /> leasehold. Borrower shull comply with �Il the provisions of the lease. If Boreower acquires fee tide to the Property, the
<br /> leasehold and the fee tttle shall not merge unless Lender agrees to the merger in writing. .
<br /> 7.Protection of Lender's Rtghts in the Property.If Borrower fails to perform the covenants and agreemenu contained in
<br /> this Security Instrument, or there is a legal procee�iing that may signiflcantly eff«t Lender's rights in the Froperty (such as a
<br /> proceedins in bankruptcy,prabate, for condemnatton or fodeiture or to enforce laws or regulattons), then I.ender rnay do and
<br /> ' pay for whutever is necessary to protect the value of the Property and Ixnder's rights in the Property. L.ender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appenr3ng in court, paying
<br /> - re:�sonable attomeys'fees and entering on the Property to make repairs. Although Lender may take nctton under this paragro.ph
<br /> � 7.Ixnder does not have to do so.
<br /> �` Any amounts disbursed by [.ender under this parsgraph 7 shall become additional debt of Borrower secured by this
<br />"� Security Instrument. Unless Bonower and I.ender agree to other terms of payment,these amounts shull bear interest from the
<br /> � datc of disbursement at the Note rate and shall be payable, with interest. upon notice from Lender to Borrower requestln�
<br /> payment.
<br /> 8.Mortguge Insurunce.If Lender required mongage insurance as a condition of making the loan secure�by this Security
<br /> • Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance In effect. If, for any mason,the
<br /> mortgage Insurance coverage required by Lender lapses or ceases to be in effect. Dorrower shall pay the premiums mquired to
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in eitect,at a cost substantially equivalent to the
<br /> � cost to Bonower of the mortgage insurance previously in effect. from an alternate rnortgage insurer approved by l.ender. If
<br /> substantially equivnlcnt mortguge insurance coverage is not available, Borrower stwll pay to L.ender each month a sum cqual to
<br /> �� one-twelfth of'tl�e yearly mongagc insurance premium being pnid by Bonnwer when the insurance coverage lapsed or ceased to
<br /> , he in effect. Lender will accept,use and retain these payments as a loss reserve in licu of mortguge insurance. Loss reserve
<br /> • Form 3028 8/90
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