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<br /> . S.�H�zwrd or Property Insurwncc. Rorrowcr shall keep the improvaments now existing or hareafter erected on the
<br /> Properiy Insured againat loas by fire, hatxrds includcd within the term"extended covcragc" and any ather hazards, including
<br /> tloads�r iloading, for�vhich L,ender requlres insurnnce. This insurance shall be maintaincd in the amoun�s and for th:periods
<br /> that Lender requires. The insurancc carrler providing the insurance shall be chosen by 9orrower subject to I.�nder's approval
<br /> which sholl not be unrcasonably withhcid, If Borrower fails ta maintain coverage described abovc, L.ender may, at L,cnder's
<br /> option, obtain cove,rage co protect Lender's rightc in the Property in ac.cor�ance with paragraph 7.
<br /> All insuranco policiea and renewals shell be acceptable to l.ender and shall include a standard tnortgage clause, l.ender
<br /> shall have the right ta hald the policles and renewale. If Lcnder rcqui�ea,Horrower shall pramptly givc to I.ender all rcccipts of
<br /> paid premlums and renewal noticcs. [n thc cvent of los�, Borrowcr�hall gtvc prampt notice to thc insurance carrier and Lendcr.
<br /> L.ender mry m�lce proof of la3s if not made promptly by Borrower, �
<br /> Unleas l.endet and Borrawer othecwise�grce in writing, insurance procoeds shell be applied to restoration or repAir of the
<br /> Property damaged,lf the restoration or repair is economically fcasible and l.ender's security is not Icsscned. If the restoration or
<br /> rep�ir is not economically feasible or Lender'a security would be lessened,the insurance proceeds shall be applied to the sums
<br /> securod by this Security Instrument, whether or not then due, with any eaces�paid to Borrow�r. If Borrower abandons the
<br /> Property,or does not an�wer within 30 daya a notice from Lender that the Insurance canier has offered to settle a claim, then
<br /> l.ender may collcet the insurance proceeds. Lender may use the proceeds to repair or xestore the Property or to pay sums
<br /> securai by this Security lnstrument,whether or not then due.'fhc 30-day period will begin when the nutia is given.
<br />- Unless Lender and Borrower otherwise agree in writing, any appiiication of proceeds to principal shall not eatend or —
<br />_ postpone the due date of the monthly paymrnts refened to in paragraphs 1 ar�d 2 or change the amount of th.e payments. If
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and procce�is resulting frum
<br /> dxmage to the Prapeny prior to the acqu(sition shall pass to Lender ta the eatent of the sums securod by this Security Instrument
<br /> immediately prior to the acquiaition.
<br /> 6. Occupwncy,PreservAtion�Mainte�Ance and Protecdon ot the Property; Borrower's Lonn�pplication;I,aasebolds.
<br /> Borrower shall occupy, establlah,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security lnstrument and shall continue to occupy the Property as Borrower's principal residence for at least one year aftar
<br /> the due of accupu►cy, unless Lender otherwise agrees in writing,which consent shall not be unnasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, dam�ge or impair the
<br /> Property, allow the Proper�y to deteriorate, or commit w•este on the Property. Borcnwer shall be in default if any forfeiture
<br /> action or proceeding,wbether civil or crimin�l, is begun that in I.ender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materially impair the lien created by this Sceurity Instrument or Lender's security interest. Borrower mxy
<br /> cure such a default and ninstate, as providcd in puagraph 18,by causing the action or procecding to be dismissed with a ruliug
<br /> that, in Lender's good faith determination, procludes forfeiture of tt�e Borrower's interess in the Propeny or other material
<br /> imp�irnnnt of the lien cteated by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> Borrowee,during the loan applieation proeass, gave materially false or inaccurace informacion or siaicu,e,its iu Ler�3er(or f'�il:,ii
<br /> to provide L.ender with any mxterial informetion)in connxtion with the loan evidenced by the Note, including, but not limitod
<br /> to,representationa conceming Borrower's occupnncy of the Property as a principal residence.If this Security Instniment is on a
<br /> leaaehold, Borrawer shall comply with all the provisions of the lcase. If Bomower acquiras fa title to the Property, the
<br /> I�asehold and the fa title shall not merge unless Lecider agcecs ta thc merger in writing.
<br /> '7.Prolectloa of J_mder's Rlghts in the Prope�ty.If Banower fails to perform the covenants azid agraments contained in
<br /> thia Security[nstnrment,or there is a legal proceeding tha:may significantly affect Lender's rights in thr. Property(such as a
<br /> proceedtng in bankrupt�,^y,probate, for condemnation or farfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatover is necesaary to prc,tect the value of the Propeay and Lender's rights in the Prope►ty. L.ander's acdons may
<br /> include paying any sums secured by a lien which has priority over tHis Security Instrument, appearing in cc�urt, paying
<br /> reasonable attorneys'fees and cntering on the Propcny to make repairs, Although Y..ender may take action under this puagraph
<br /> 7,Lender dcxs not have to do so.
<br /> Any amounts disbursed by i.ender under this paragraph 7 shall baome additional debt of Borrower secured by this
<br /> Security Instcument. Unless Borrowor and Lender agroe to other terms of pa}�mznt, these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> payment.
<br /> S.Mortgage Imurnnce.If Lender required mortgage insurance as a condition of making the loan sccured by this Security
<br /> Instrumcnt, Borrower shall pay the premiums required to maintain thc mortg�ge insurana in effect. 1f, for any rcason, the
<br /> mortgage insurance coverage requiral by Lender lapses or ceasts to be in effect, Borrower shall pay the pnmiunu required to
<br /> obtain coveragc substa�ntially equivalent to the mortgagc insurance previously in effxt, at a cost substantially equivalcnt to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approval by Lender. If
<br /> substantially equivalent mortgage insurancx coveragc is not availab(c, Bc�rrowcr shall pay to Lender ea�h month a sum cqual to
<br /> o�ne-twelfth of the yearly mortgage insurance pramium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect.Lender will accept,use and retain these payments as a losa reserve in lieu of mortgage insurance. Lciss reserve
<br />— Form 3028 9/90
<br /> �-6RINE)�ei»�.o� Pp�7 0l 8 IMtINr
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