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<br /> �. Hazard or Property Insurance. Borrower shall kcep thc improvements now exisu��g an c�rcaftcr erccted on thc Properry �`�
<br /> insured against loss by fire, hautrds included within the tcrm "extended coverage" and any other hazards, including floods or •�;°��"-
<br /> tloaiing,for which Lcnder requires insurance.This insurance shall be maintained in thc amounts and for the pf:riods that L.cnder ... --
<br /> ;� requires.The insurance cs�nier providing the insurance shall be chasen by Borrower subject ta Lender's ap�rovul whicf�shall not _ -
<br /> be unreasonably widihald. If Borrowcr fails to maintain coverngo described abovc, Lcndcr may,ut Lcndcr's option, obuun
<br /> -ri� covcragc to protect Lcndc:r's rights in thc Property in accordancc with paragrs�ph 7. �� "
<br /> ,:' ' ' All insurancc policies and renewals shall be acccptnble to Lender and shail include a standard mortgage clausc. Lcnder sh�ll�� �+
<br /> havc thc right to hold the policics :uid renewnls. !f L.cnder rcquues, Borrowcr shaU prompdy givc to Lcnder all rcccipts of paid"'� ;
<br /> prcmiums and renewal nodces.In the evcnt of loss,Boaowcr shall give prompt nouce to the insurance carricr and Lcnder.L.endcr � .
<br /> may makc proof of loss if not madc prompdy by Borrower. _
<br /> Unless Lender and Borrower otherwisc agree in writing,insurancc procecds shall be appGed w restoration or repair of che � - -
<br /> Property damnged,if the restorauon or repair is economically feasible and L.ender's security is not Icssened.If the restoration or � �_
<br /> repair is not economically feasible or Lender's security would be Iessened, the insurance proceeds shall be appGed to�he sums (Q �'
<br /> - secured by this 5ecuriry Insarument, whe►her or not then due, with any excess paid to Boaower. If Borrower abandons the v1 Y
<br /> Property,or does not answer within 30 days a notice from Lender that the insurance carrier has offered tc�settle a c4tim.then � �-:
<br /> Lender may collcct the insurance proceeds.Lender may use the proceeds to repair or restore the Property or to pay sums secured
<br /> by this Security Instrument,whether or not then due.The 30-day period will begin when ihe notice is giv�n. .,
<br /> Unless I.ender and Boaower otherwise agree in viriang,any appGcation of procceds to principal sliall not extend or postgone
<br /> the due datc of the monthly payments refened to in paragraphs I and 2 or change the amount of the payments.If undcr paragraph
<br /> 21 the Properry is acquiretl by Lender. Borrower's right to any insurance policies and proceeds resulqng from damage to the
<br /> Property prior to the acquisiaon shuq pass to Lender to the extent of the sums secured by this Security Instrument immediately '-_
<br /> prior to the acquisidon.
<br /> � . 6. Occupency,Preservation,Maintenance and Protecdon ot the Property; Borrower's Loan Applicatton;Leaseholds. -
<br /> r Bortower shall occupy,establisli,and use the Property as 23orrower's principal residence within sixty days after the execution of : _
<br /> this Se.curity Instrument and shall continue to occupy the Property as Borrower's principal residenca for at least one year after the �
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<br /> date of occupancy, unless Lr.nder otherwise agrees in writing, which consent shall not be unreasonably withheld. or unless �:_,
<br />------- "---- Cxkpuaiin�i:iii:uiti�LLi��a dA15I�YI71CIi al'u beyond Borrawcr's consrol.B�T.O'�Cf�h�ZO:.'�.C:LfO�.�9".:3$^.Qi tSS:�`31f Sf:C p!Qj.'"..fi�. Q.- _
<br /> allow the Properry to deteriorate, or commic wnste on the Property. Borrower shall be in deFault if any forfeinue action or m"
<br /> proceeding,whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the Property or ��
<br /> otherwise materially impair the lien created by this Security lnstrument or I.ender's security interest Borrower may cure such a r
<br /> default and reinstate, as provided in paragraph 18, by causing the action or proceeding w be dismissed with a ruling that, in ���
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<br /> Lender's good faith determination,precludes forfeiture of che Bonower's interest in the Property or other material impairment of
<br /> • the lien created by this Security Instrument or i.ender's security interesG Borrower shall also be in default if Boaower,during the ,
<br /> ' loan applicadon process,gave materially false or inaccurate information or statements to Lender(or failed to provide Lender widi -_ _
<br />_ ' any ma[erial informaqon) in connecaon with che loan evidenced by the Note. including, but nat limited to, representaaons
<br /> concerning Borrower's occupancy of the Property as a principa!residence.If this Security Instrument is on a leasehold,Borrower _
<br /> shall conaply with all the provisions of the lease. If Boaower acquires fee title to the Property.the Ieasehold and the fee tide shell �.."�
<br /> � , not merge unless Lender agrees to thc merger in wriung. �`'
<br /> � 7. Protection of Lender's Rights In the Property. If Borrower fails to pedorm the covenants and agreements contained in �'�
<br /> this Securiry Insuument, or there is a legal proceeding that may significantly affect Lender's righrs in the Property (such as a �:,
<br /> proceeding in bankruptcy,probate,for condemnauori or forfeinue or to enforce laws or regulations),then Lender may do and pay �•.`.�
<br /> '' for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's acdons may include `—�'-
<br /> a in an sums secured b a tien which has norit over this Securit Instruinent, a in in court, a in reasonable '��
<br /> P Y s Y Y P� Y Y PP� B P Y 8 -
<br /> auomeys' fees and entering on �he Property to mnke repairs.Although Lender may take action under this paragraph 7,Lendcr �`,:±''� -
<br /> .. � does not have to do so. -
<br /> ' Any amounts disbursed by Lender under this paragraph 7 shall become ndditional debt of Borrower secured by this Security ':";
<br /> Inswment. Unless Borrower and �Lender agree to other terms of payment, these amounts shell bear interest from the datc of --
<br /> disbursement at the Note rate and shall bc payablc,with interest,upon noncc from Lcnder to Boaower requesting paymenG _--_ .
<br /> 8. Mortgage Insurance. If Lender requacd mortgage insurance as a condiuon of making the loan secured by this Security =-:'-�
<br /> Inswment. Borrowcr shall pay the premiums requircd to mau►tain the mongage insurance in effect. If, for any rcason, thc '�`r_�;,--_:-
<br /> � mongage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to ••�s '"` ���__
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<br /> I obiain coverage substandally equivalent to the mortgnge insurance previously in effect,at a cost substantially equivalent to the '�;• �'--�~-?
<br /> ���M: :
<br /> cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If ��''_
<br /> � substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to I.ender each month u sum equal to �
<br /> I one•twelfth of the ye.�rly mortgage insurance premium being paid by Bonower when the insurance coverage Inpsed or ceased to �
<br /> � bc in effec� Lendcr will acccpt, usc and retain thcsc payments as a loss reserve in lieu of mortgage insurancc. Loss reserve
<br /> I
<br /> Form 3028 y/90
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