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<br /> -__ --�- 5. Hazwrd or Pnnperty Insuranre. Borrowcr shall kcep the improvemcrts now existing or hereaftcr crected on the
<br /> _�_��.�_ Property insured nguinst loss by fire, ha�.ards included within the tenn "extended covernge" nnd uny other ha�ards, including
<br /> -- tloods or flaoding, for which l,ender requlres insuranca This insurance shall be maintseined in the umounts nnd for the pericxis
<br /> =�_`�=--=_., thut l.ender requixs. The insurance cnrrier providing the insurunce shall be chosen by Aorrower subject ta Lender's approval -
<br /> .., _Y��� which shall not be unreasonably wiihheld. ff doreower fails to maintnin covc;rage dnscribud ubirvc, Lender may. at Lcnder's y
<br /> - option,obtuin cmcruge to protect Lcnder's rights Fn the Property in accordance with purngraph 7.
<br /> _ � All insurance policies and renewuls shall be acacptublc to Lender and shall includc a standard mortgage clause. I.ender�
<br /> -==�e��� shall havc the right to hold the policies and renewuls. If I.endcr requires, Horrower shall promptly glve ta I.endcr all rcceipts of r
<br /> �.--�� paid premiums and renewal notices. In the event ef loss,Borcower shall give prompt natice to the insurance currier und Lender.�
<br /> __�;� Lender may make proof'of loss if not made promptly by Borrower.
<br /> Unless I.,ender and Borrower otherwise ngree in writing, insurance proceeds shall be applled to restoration or repair of the�
<br /> Property dumased,if the restoration or repair is economically feasible nnd Lxnder's security is not lessened.If the restoration ar�
<br /> __-- repair is not economically feasible or Lender's security would be lessened, the insurance praceeds shall be applied to the sums
<br /> _.y.��� secured by [his Security Instrument, whether or not then due, with any excess paid to Bonower. If Borrower abandons the
<br /> �`'�°:..�� Property,or does not nnswer within 30 days n notice from Lender that the insurance carrier has offered to settle a claim, then
<br /> __��� Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> _��_.�_— secured by this Secoriry instn►ment, whether or not then due,The 30-duy period will begin when the natice is given.
<br /> --- Unless Lender and Borrower otherwise agree in writing, uny application af proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the nmount of the payments. If
<br />-=:;;�� under puragraph 21 the Property is acquired by Lender,Borrower's right to any insurance policies and proceeds resulting from
<br /> __:�:�,��� damage ta the Property prior to the acquisition shaU pass to 1.ender to the extent of thc sums secured by this Security Instrument
<br /> -'°-""""— immediately prior ta the acquisitian.
<br /> 6. Occupancy, Preservation,Matntenance and Protection of the Praperty;Borrower's I.oan Application; Lcaseholds.
<br /> Borrower shall occttpy,cstablish,und use thc Property as H�rrower's principal residence within sixty duys after the cxecution uf
<br /> dr� this Security Instrument and shull continue to cxcupy thc Property as Borrower's principal residcnce for at least one year after
<br /> the dute of occupancy, unlcss l.�nder othcrwise ugrees in writing, which cansent shull not be unreusonably withheld,or unlcss
<br /> extcnuating circumstanccs exist which ure heyond Horrowcr's cantrol. Borrower shall not destroy, dumnge or Impair the
<br /> Pros►eny. ullow the ProQerty to dcecrlorutc, ur cammit wnstc cm the Property. Borrowcr shall bc in dcfault If uny forfciture
<br /> action ar proceeding, whether civil or criminal,Is begwi thut in l.ender's gooci faitti judgment could result in torfci[ure of[he
<br /> Property or�therwise muteriully impair the lien created by this Security Instrument or Lcnder's security interest.Borrower may
<br /> cure such a default and reinstate,as providecl in purugruph 18, by causing the uction or procceding te be dismis.sed with a ruling '
<br /> that, in Lender's gaod faith determinntian, precludes forfeiture of the Horrower's interest in the Propeny or other material
<br /> �� impairment of the lien crcatcd by this Security Instrument or [.cnder's security interest. Borrower shull ulso be in default if
<br /> Borrower,during the loan application process,gave tnaterially fulse or inaccurate infoxmation or statcments to I.ender(or failed
<br /> to provide Lender with any materiul informstion) in connection with the loan evidenced by the Notz, including,but not limited
<br /> __ ta,representations canceming Borrower's occupancy of the Property as a principal residence.If this Security Instntment is on a
<br /> leasehold, Borrower shall comply with all the provisions of the Iense. If Borrower acqu'sres fee title to the Pinperty, the
<br /> - le:ischold und the fee title shall not mcrge unless Lender agrees to the merger in writing.
<br /> 7.Protectiun of i.ender's Rights in the Property.If Bonower fails to perform the covennnts and agreements contained in
<br /> __ this Security Instrument, or there is a lesul proc:eeding that may significantly affect Lender's rights in the Property(such as a .
<br /> _.__ proceeding in bankruptcy,probatc, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br />____--- — pay for whatever is necessary to protec[ the vuluc of the Property nnd I.ender's rights in the Property. L,ender's nctions may
<br /> --=- = include paying any sums secured by a lien which has priority over this Security Instrument, appearin� in caurt. paying
<br /> ;_.���� reasonable attorneys'fees and entering on the Property to make repairs. Although Lender may tnke action under thls paragraph
<br /> _ _____ -r,�� 7,I.endcr dues uut liave tu da so.
<br /> -�--��== Any amounts disbursecl by L.ender under this parlgraph 7 shall bccome additional debt of Borrower secured by this
<br /> ��T,,,�,.��a Security Instrument. Unless Borrawer and I.ender agrce to other ter►ns of payment, these amounts shall bear interest from the i
<br /> =_=---= date of disbursement at the Note rate and shall bc payablc, with interest, upon notice frorn Lender to Borrower requesting '�
<br /> ___-=^'=.'^�� payment,
<br /> _=-�'"�-�� 8.Mortguge Insurunee. [f Lender required mortga�e insurance as a condition of making the loan secured by this Security �
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<br /> �=°`�''�•� � Instrument, Borrowcr shull pay the premiums rcquired to maintain the mortgage insurance in cffect. If, for any reason, thc
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<br /> _`=:.�r"�.; ;• mortgage insurance coverage required by I.ender lapses or ceases to be in effect, BorPOwer shall pay the premiums required to
<br /> ' obtain covcragc substantially cyuivulcnt to the mortgage insurancc previnusly in effcct,at a cost substantiully equivalcnt to ehe ,
<br /> �� cost to Borrowcr of the mongagc insurunce previously in effcct, finm an alternate mongagc insurer approved by L.cndcr. If ,
<br /> . ��: substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to �
<br /> { � une-twelfth of the yearly mortgage insurance premium being paid by Borrawer when the insurunce coverage lapsed or ccaseci to
<br /> � bc in effect. C,cndcr will acccpt,usc and retain thesc payments us a loss reserve in licu of mongagc insurance. Loss reservc �
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<br /> Form3028 9/90
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