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<br /> � S. Hazwrd or Property Insurwnce� Borruwer shnll kccp ths Improvemcnts now cxisting or t�creufter crectcd on thn
<br /> Praperly insured against loss by fire, haznrds included withln the term "extendcd coveragr." and any other hazards, including
<br /> floods or flooding, for which l.ender reyuires insurnnce, Tbls insurance shall be maintalned in the amounts ancl far the periods
<br /> that l.ender requires. The insurance carricr providing tho insurunce shalV be chasen by Borr�wer subject to l.ender's approval
<br /> which shall not be unrensonably withheld. If Borrower faila to maintain caverago descrlb�d abovo, l.ender may, At l,ei►der's
<br /> option,obtain coverage to protect Lender's rlghts in the Property in accordance with parngraph 7.
<br /> All insurnnce policics and renewals shall be acceptable to Lender and shall include u standard mortgage clause. Lender
<br />� shall have the right to hold the�olicies end renewals. If L.endcr rcquiru, IIorrower shall}�romptly glvc to Lcnder all reccipts of _
<br /> paid preratums and renewnl notices.In the evcnt of loss,Borrower shall glve prompt notica t�the insurance carricr nnd Lender,
<br /> l..ender may mc+lce proof of loss if not made promptly by Borrower.
<br /> Unless Lcnder and Borr�wer othcrwise ngree in writing, insurancc procecds shall be applicd to restoration or repair of thc
<br /> Property damag�d,if thc ressoration or repair is economically feasible and Lender's security is not lessened. If th�restoration or
<br /> repair is not economically feusiblc or Lender's security would be lessened, tho insurance proceeds shnll be npplied to the sums
<br /> secured by this Security Instrument, whe�lur or not then due, with any exr,ess paid to Borrower. If Barrower abandons the
<br /> Property, or does not answer within 30 days a notice from Lender that the insurance cnrrier has offered to settle a claim, then
<br /> [.ender may collect the insurance proceeds. Lender may use the prceeeds to repnir or restore the Property ar to pay sums
<br /> secured 6y this 5ecurity Instrument,whethcr or not then due. Th�30-day periad will begin when tbe notice is given.
<br /> Unless Lender an� Borrower otherwise agrec in writing, an� applicatlon of praceeds to principal shall not extend or
<br /> pastpone the duc date or'the monthly paymtnts referred to in paragraphs 1 and 2 or change thc amount of thc payments. 1f
<br /> under paragraph 21 the Propercy is acquired by Lender, Borrower's right to any insurance policies and pracads resulting from
<br /> damage to the Property prior to the ocquisition shall pass to Lender to tha extent of the sums secured by this Security lnscrument
<br /> immediately prior[a the acquisition.
<br /> 6.Occupancy�Presecvation,Malntenance and Protection of the Properr.y;Bm'ra�+'er's Losn Application;L.a�seholds.
<br /> Borrower shall occupy,establish, and use the Property as Borrower's principal residence within sixty days ufter the execution of
<br /> this Securlty Instrument and shall continue to cecupy the Property es Borrower's principal residence for at least one year after
<br /> the date of oc:cupancy, unless Lender otherwise agrces in writing, which cunsent shaU not be unreasonably withheld,ar unless
<br /> extenuating circumstances exist which ure beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Propeny, allow the Property to deteriArate, ur commit waste on the Aroperty. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whcthar civil or criminal, is tsegun that in Lender's goocl faith judgment could result In forfciture of the
<br /> Property or oth�rwise materially impair the lien created by this Security Instrument or Lender's security interest.Borrower may
<br /> cure such a default and reinstate, as pruvided in paragraph t8,by causing thc actton or prceee3ing to be dlsmissed with a ruling
<br /> that, in i.ender's good fa�th determinacion, prccludca iu�fettura of ih:: �o�:o:�cr's ir.:ere�s in che Pro�r�y �r�cher material
<br /> impairment of the lien created by this Security Ins�rument or l.ender's security interest. Aorrower shall also bc in default if
<br /> Bonawer,during the loan appllcation process,gave materially false or inaccurate information or statements to Lender(or failed
<br /> to provide I.ender wlth any material informltion) in connection with the loan evidenced by the Noto, including,but not limited .
<br /> to,representattons concerning Borrower's occupancy of the Property as a principal residence. If this Sccurity Instrument is on a
<br /> leasehold, Bonower shall comply with all the provisions of the lense. Tf Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shall not merge unless L.ender agrees to the merger in writing.
<br /> 7.Protection o[I.ender's Rlghts in the Property. If Borrower fails to perform the covenants and agraments contained in
<br /> this Security Instrument,or there is a legal proceeding that may slgnificantly affcct I.ender's rights in the Property(such as a
<br /> proceeding in bankruptcy, prubate,for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> puy for whatever is necessary to protect the value of the Property and Lender's rights in thc Propert,y, i.ender's actions may
<br /> include paying any sums secured by a lien which has priority over thls Security Instrument, appearing in court, paying
<br /> rcasonablc uttorneys' fees and entcring on the Propeny to mAkc repairs, Although Lender may takc nction under thie paragraph
<br /> 7.l..ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower sxured by this
<br /> Security Instrumcnt. Unless Aorrower and Lender agree to other terms of payment, these amaunts shalt bear interest from the
<br /> date of disburse►nent at the Note rate and 9ha11 be payable, with interest, upon notice from L,ender to Borrower requesting
<br /> payment.
<br /> S. Mortgage Insurance.If Lender required mortgage�nsurance as a condition of making the loan secured by this Security
<br /> [nstrument, Borrower shall pay the premiums required to maintain the martgage insurancc in effect. If, for any rcason, tha
<br /> mortgAge insurance coverage roquired by Lender lapses or ceases to be in effect, Borrowor shall pay the premiums req�Ired to
<br /> obtain coverage substantially equivalent to the mortgage insuranca pitiviously in effect, at a cost substantially equevalent to the
<br /> cost to Borrower of the mortgsge insurance previously in effect, from an altcmate mongage insurer approved by i.ender. If
<br /> substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurancs premium being paid by Borrower when the insurance coverage lapsed or ceasuf to
<br /> be in effect. L,ender will accept. use and retain these payments as a loss resecve in lieu of mortgage insurance. Loxs reserve
<br /> Form 3�28 9/90
<br /> - �•BRINEI iez�s�.os rw.a oi e iNnu.:_
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