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<br /> 5. HwzArd ar Property Insurxnoe, Bonawer shall keep the improvemen�s now cxisting on c�reaftcr crected on the
<br /> Property insured aguinst loss by fire, ha7ards included wIthin the term "extended covcrugc" nnd uny ather hazurds, including
<br /> floods or flaoding, for which Lendcr requires�nsurancc.Thls insurnnce shall bc mnintained in the amounts and for the periods
<br /> thue l.ender requlres. The insurr.ncrs cnrrier providing the insurance shall be chosen by Bottower subJect to Lender's uppraval
<br /> which shall not be unreasonably withheld. if Borrower fails to maintain coverage desce3bed above. L.ender mny. at I.en�er's
<br /> aption,abtain coverage to protect Lender s rights in the Property in accardunce with psu'agraph 7.
<br /> All insurancc polictes and renewals shull be ucceptable ta I.ender and shull include a standard martguge clause. Lender
<br /> shall have the right to hold the policies wid renewals.If Leruler requires.Bonower shall promptly give to Lender all recelpts of '
<br /> paid premiums and renewal natices.In the event of loss.Borrower shall give prompt natice ta tlie insurunce cunier und Lender.
<br /> Lender may make proof of loss if not made arompdy by Borrower.
<br /> Unless Lender and Borrower otherwise Agree in writing,insurance proceeds shall be applieci to restorutIon or repair of the
<br /> Property damaged,if the restoratlon or repair is economically feaslble and Lender's security is not lessened.If the restoration or
<br /> repair is not economically feasible or L.ender's security would be lessened,the insurance proceads shull be applied to the sums
<br /> secured by this Securiry Instrument, whether ar not then due, with any excess paid ta Borrower. If Borrower abandons the
<br /> Property, or dces not answer within 30 days a notice from I,ender that the insurance carrier hns affered to settle a cl�Im, then •
<br /> I.ender may wllect the lnsurance proceeds. Lender may use the proceeds to repuir or restore the Property or to pay sums
<br /> secured by this Security I»strument.whet6er or not then due.The 30-day pedod will begin when the notice is given. ,
<br /> Unless Lender and Bonower othenviso agree in writing. any appllcation of proccuis to pr3ncipal shall not exund or .
<br /> postpone the due date of ihe monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 iha Froperty is acquired 6y Ixnder. Borrower's right to any insurance policies and proceeds resulting from ;
<br /> damage to the Property prior to the ucqulsitian shall pass to Lender to the extent of the sums secured by this Security Inst�ument '
<br /> immediately prior to the acquisitton.
<br /> 6.Occupancy,Preservation,Mafntensace aad Protecdon o[the Propertv;Borrower•a Loan Appliattioa; Le�seholds.
<br /> Borrower shall occupy,establish,and use the Properry as Borrower's principal residence within sixty days after the execution of ,
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after :
<br /> the date of occupancy. unless Lender otherwise agrees in wrlttng.which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Barrower's control. Borrower shall not destroy. damage or lmpair the
<br /> Property. allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in defautt if any forFeiture •
<br /> action or prc�ceedtng.whether civil or cdminal, is begun that in Lender's good faith judgment wu:d result in forfeitun of the
<br /> PrQixrt;flr Qttz�r.�ise mstPrla!!;4mgair t!� �iea create��y sh4s S!�cur�ty Instr�meni�r L�n�er•s Gscurity Iniermst.�enowcr�y
<br /> cure such a default and reinstate.as provided in paragraph 18,by causing the action or procecding to be dismissed with a nrling
<br /> that. in Lender's good faith determination. precludes farfeiture of the Aorrower's interest in the Property or other material •
<br /> impairment of the licn created 6y this Security Instrument or Lender's security interest. Borrower shall also be in default if '
<br /> • Borrower.dudng the loan application pracess,gav�materially false or inaccurate information or statements to Lender(or failed .
<br /> to provide Lender with any material information) in connectton with the loan evIdenced by the Note.including,but not linuted
<br /> to, representations wnceming Borrower's occupancy of thc Properry as a principal residencc. If this Security Instruaxnt is on a �
<br /> Ieasehold. Borrower shall camply with all the provisions of the lease. If Borrower ucquires fee title to the Property. the �
<br /> leasehold and the fee Htle shell not merge unless L.ender agrees to the merger in writing. ;
<br /> 7.Protectton of Lender's Rights in the Property.If Borrower feils to perform the covenants and agreements oontained in
<br /> this Sccurity Instcument,or there is a legal proceeding that may signifieantly affect L.ender's rights in the Property(such as a '
<br /> procetding In bankruptey. probate. for condemnation or forfeiture or to enforce laws or reguladons),then I.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may .
<br /> _ include paying any sums secured by a lien which has priority over this Security Instrument. appearin� in court, paying
<br /> roasonable attorneys'fces and entering on the Property to muke repairs. Although I.ender may take action under this paragrnph
<br /> 7,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 sha11 become additional debt of Borrower secutr.d by th�s '
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment,these amounts shaQ bear interest from the �
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from I.ender to Borrower requesting ,
<br /> payment. ,
<br /> 8. Mortgage Insurxnce.If Lender rcquired mortgage insurance as a condit�on of making the loan secured by this Security •
<br /> Instrument, Borrower shall pay the premiums reqaired ro maintain the mortgage insurance in effect. If, for any mason. the ;
<br /> mortgage insurance coverage requi��ed by Lender lapses or c�ses to be in effect. Borrower shal�pay the premIums requirod to
<br /> ' obtain coverage subsYantially equivalent to the mortgage insurance previously in effect. at a cost substantially equivalent to the
<br /> . cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available,Bonower shall pay to Lender each month u sum equzil to •
<br /> one-twelfth of the yeariy mortgage insurance premium being paid by Borrower when the insurance covernge lapsed or ceased to .
<br /> � be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve '
<br /> Form 30Z8 9l90
<br /> Ppe 3 0�e
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