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<br /> S. Hxzprd i�r Pruperty Insurauce. 6orrowcr shall kcep thc improvcmcnts naw cxisting un c�rc��ftcr crcctcd �m thc
<br /> Property insureci against loss by firc, hu•rnrds included within thc tcrm "cxtc�idcd covcragc" und any otlicr hnxards, including
<br /> flacxts or flcxxling, for which L.cndcr rcquires insuruncc. This inruruncc shall bc maintaincd in Qic mm�un�s und for thc pericxls
<br /> thut l.endcr requircs, The insurunce currier pmviding the in+urunce shull be duti�en by [�urrower +uhject tu l.ender'ti apprcrvnl
<br /> which shull not bc unrcasonubly withhcld. If Rorr<�wcr fuils to nuiintuln cuvcrngc dcscribcd ul�ovc, l.cndcr muy, ut Lcndcr'�:
<br /> opdon,obtuin covcrugc to prntcct l.cndcr's rights in thc Propeny in urcordnncc with purugruph 7.
<br /> All insurancc {xilicics und reucwals shull lx� ucccptnblc to I.cndcr nnd ,hull includc u standard mortgugc clnusc. l.endcr
<br /> shall hnve thc rfght tc�hold thc Ex�licics aixl rcnewuls, If l.cndcr requires, Borruwcr shull promptly givc�o I..endcr ull reccipt+ot'
<br /> paid prcmium�+ux��'CI1CWilI 11011CC5. Ill lI1C CVCIII OP IOtiti, T3orrowcr shull givc prompt noticc tu thc iosurnncc carricr and i,cndcr. —
<br /> �L.ender muy makc�:rooP of loss if not m:xie promptly by Hc►rrowcr,
<br /> Unless Lcixlcr und Bnrrower athcrwisc ngrce in wri�ing,insurancc proccccls shall bc upplicd ta restaration or rcpair of Ih�
<br /> Propeny damaged,if the restoration or repair is economically f'ensible und I.ender's security is not Iessened. If the restorution or
<br /> repair is not economically feasible ur I.ender's security woidd be lesseneci, the insutance proceeds shall be applieci to�he sums
<br /> secural by this Security Instrument, whethcr or not then due, with any cxcess paid to Horrowcr. If Borrower ubandons the
<br /> Property, or dces not answer within 3U days a notice from Lender thut the insurance carrier has offered to settle a claim, then
<br /> Lender may collect the insurance proccecis. Lender may use thc proceeds to repuir or n;store the Propei•ty or to pay sums
<br /> secured by this Security Instrument,whether or not then due.The 30-day period will begin wNen the notice is given.
<br /> Unless I.�;nder and Borrower otherwise agree in writing, any applicution of proceeds to principal shull not extend or
<br /> postponr. the due date of thc monthly payments referred to in parugraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 2l the Property is acquired by I.ender, Borrower's right to any insurance policies and proceeds resulring from
<br /> damage to the Propeny prior to the acquisition shsll pass to I.ender to the extent of the sums secured by this Security Instcument
<br /> immcdiatcly prior to the acquisition.
<br /> 6.Occupancy, Pre.servation,Maintenance and Protecdon of the Property;Borrower's I.oan Applicxtion; Lepseholds•
<br /> Borrower shall occupy,estahlish,und use the Property as B�nower'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 Lencler otherwise agrees in writing, which consent shall not b�unreasonably withheld,or unless
<br /> extenuating circumstances exist which ure beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriarate, or commit waste on the Property. Borrower shall be in default if any fr�rfeiture
<br /> action or proceeding, whether civil or criminal, 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 Security Instrument or i.ender's security interest.Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to i�e dismissed with a[uling
<br /> that, in I.ender's good faith determination, precludes forfeiture of the Borrower's intcrest in the Property or other material
<br /> im�»irsnen! ef the liPn crea[ed hy this Security Instrutnent or L.ender's security interest. Borrower shall also be in default if
<br /> Borzower,during the loan application process,gave muterially false or inaccurate inf�rmation ar statements to L.ender(or iaitai
<br /> to provide Lender with any material information)in connection with the loan evidencal by the Note, including,but not limited
<br /> to,representations conceming Borrower's occupancy of the Property as a principal residence.If tl»s Security Tnstrument is on a
<br /> leasehotd, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shall not merge unless Lender agrees to the mergcr in writing.
<br /> 7.Protection of I.ender's Rlghta in the Property.If Borrower fails to perform thc covenants and agrcements contained in
<br /> this Security Instrument, or there is a legal prceeeding that may significantly affect L.ender's rights in the Ptoperty(such as a
<br /> proceeciing in bankruptcy,probate, for condemnation or forfeiture or to enforce Isws or regulutions),then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and l,ender's rights in the Property. L.ender's actions may
<br /> include paying any sums secured by u lien which has priority over this Security Instrument, appearing in courc, paying
<br /> rr,asonable attorneys' fees and entering on the Property to makc repairs. Although Lender may tuke action under this paragraph
<br /> 7,Lendcr dces not have to do so.
<br /> Any amounts disbur.sed by I.ender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instrument. Unless Borrower and Lendcr ugree to other tcrms of payment, thcse amounts shall bear interest from the
<br /> date of disbursement at thc Note rate and shall be payablc, with interest, upon notice from L.cnder to Borrower requesting
<br /> payment.
<br /> S. Mortgage Insurance. [f Lender rec�uired mortgage insurance as a condition of making the loan secured by this Security
<br /> Instrumcnt, Borrower shall pay the premiums required to maintain the mortgagc insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses or ccases to be in effect,Borrower shall pay the premiunis required to
<br /> obtain coverage substantially 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 alternnte mortgase insurer approved by I.ender. If
<br /> substantially equivalent mortgage insur�nce covernge is not available,Borrower shall pay to Lender eucli month a sum equal to
<br /> one-twclfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect. C.endcr will acccpt, use and retnin thcsc paymcnts as a loss rescrve in lieu of mortgage insurance. Loss reserve
<br /> Furm 3026 9l90
<br /> Pego�01 8
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