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<br />��=.�° �� S. Iiwsard or Property Insurnnce. Borrower ehall kccp thc improvcments now cxisting or hercaftcr crcctcd on thc
<br /> �=;;a� •Prapecty inaurcd egainst loss by fire, hazaM� fncluded within the term "cxtendcd coverage" pn� any ather hazards, including
<br />;�t;''� floads or flooding, for which L.ender requires insura�ice.This ineurance shall be mahuaincd in thc amounts and for the periods
<br />__""'"" " that Lender requires. The in�urance carrier providing the inaurance shall be chasen by Rorrower subJect to I..ender's approval
<br />:;�;�.�;� '� which ah�ll not be unreasonebly wlthheld. If Borrower 9'ails co maintain coveraga dcscribed abovc, I.,�ndcr may, at I.cnder's
<br />- opdon,obuin coverAge to protat L.ender'�rights in the Prop�rty in acrnrdance with paragraph 7.
<br /> �"'` All insurAnce policies and renowals shall be accoptable to Lender and shall include a standard mongage clause. l.ender
<br /> �k:,�w sh�ll hAVe th�right to hold the poUclea and renewals. lf l.ander requirea, Borrower shall prampNy give to l.ender all receipt��f
<br /> � paid prcmium�and renewAl notices, In the event of�oa�,Borrawer shall give prompt notice to the insurance carrier and l,ender,
<br /> Lender n�ay�nake proof of loss if not made promptly by IIorrowcr. .
<br /> �����'� Unless Lender and Borrawer otherwiu agra in writing,insurancc procceds shell bc applied to restoratlon or repair of thc
<br />—�:._� Property damaged, if the restoration or rcpalr is ewnomically fca�ible and l,cnder's security is not lessrned. If thc restorallon or
<br /> ;�s;:s�� repalr is nat economically feasible or Lender's securiry wuuld be lessensd, the insurance prceeW9 shdl be applied to the sums
<br /> _:...• . secured by thls Security (nstrument, whether or nut Ihen due, witti any excess paid to Borrower. If Borrower abandan� the
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<br />-° *�.,rs,�e Prop�rty, or dces not answer within 30 days a notice from l,ender that the insurance carrier bas offered to settle a claiin. then
<br /> '-''�'s��;.���. Lender may collect the insurance proceeds. Lender may use the praceeds to repair ur restorc thc Property or to pay sums
<br /> —�� secured by this Security Instrument,whether or not then due.The 30-day period will t►egin when the notice is given,
<br /> __— = Unless Lender and Borraw�r othcrwise aAree in writlng, any appllcation of proceafs t� principal shall not cxtond oa•
<br />----�—�� postpone the duc date of the monthly payments refernd to In paragraphs 1 and 2 or change the amount of the paymenty, If
<br /> �—' under pazagraph 21 the Property is acquired by Lender,Bonower's right to any insurance policies and proceeds resulting from
<br /> ��` —= damage to the Property pdor to the acquisition shall pass to Lender to the extent of the aums securcd by chis Security In�trument
<br /> = immediately prior to the ecquialtion.
<br /> y;;"� 6.Occupancy,Preservatiun, Mninten�nce nnd Protectlon at the Property;Borrower's r.oAp Applkation; 1xASeholds.
<br /> = Bonower shall occupy,establish,and uae the Property aa Borrower's principal residence within sixty daya after the e�ecution of
<br />-.�.� t6is Security instrument and shall continue to occupy the Propecry as Bonower's principal residence for at least one year aft�r
<br /> � the date of occupancy, unless Lender otherwise agrees in writing,which consent shall noc be unreasonably withheld, or unless
<br /> ��� extenuating circumstances exist which are b�yond Borrower's control. Bonower shall not destroy, damage or impair the
<br /> �'�� Property, allow the Property to deteriorate, or commit wasto on the Property. Borrower shall be in dcfault if any forfeiture
<br /> '��f action or procuding, whether civtl or criminal, is begun that in Lender's good faith judgment wuld result in forfeimre of the
<br /> __._�=::,ti�-� Property or otherwise cnaterially impair the Ilen created by this Securiry Instrument or L.ender's sxurity intenat.Borrower msy
<br /> cure such a default and rsinstate,as providod in puagnph 1R,by cauaing the action ur proceeding to be dismis�ed with a ruling
<br /> —:d that, in L.ender's good faith determination, prccludes forfeiture of the Borrower's interest tn the Property or other material
<br /> ___.-----y impairrtxnt of the llen created by this Secudty Instrument or I.ender's security interesc. Borrower ehall also be in default if
<br /> -- - liormwer,during the Ioaz►appiication process,gave malerial'ty Iaiae or inaccurate intotma�ion or s[a[emen[s to Lendcr�vr iaiied
<br /> = - to provide Lender with any material information)In connection wirh the loan evidenced by the Note,inaluding,but not limitod
<br /> '�"— to,representations concerning Borrower's occupancy of th�Property as a principal nsidence, If this Sxurity Instrument is on a
<br /> leasehold, Borrower shall comply with all the provi�ion� of the lease. If Bonower xyuires fee title to the Property, the
<br /> leasehold and the fee title shall not merge untess Lcnder agras to the merger in writing.
<br /> 7.Protection ot Laader's Rlghts in the Property.If Bonower fails to perform the covenunts and agraments contained in
<br /> this Security Instnunent, or there is a legal procealing that may significantly affect Lender's rights in the Property (such u a
<br /> procading in bankiuptcy,probate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and
<br /> p�y for whatever ia nec,essary to protect the value of�he Propeny and L.ender's rights in the Propeny. l.c�nder's actions ttury
<br /> include paying any sums secured by a lien which hu priority o�er thts Security Inatrument, appearing in court, paying
<br /> nasonable attomeys' fas and entering on thc Property to make repairs. Although Lender may take action under this puagraph
<br /> 7,Lender das not have to do so.
<br /> ---- My amounts dis6ursed by Lender under this paragraph 7 shall becomG additional debt of Borrower secured by this
<br /> Security Instrur►xnt. Unless Borrower and Lcnder agra to other terms of payment,these amounts sh�ll bear interest from the
<br /> — date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Bonower requaseing
<br /> paytntnt.
<br />---- 8.Mortgage Insuronce. If I.ender required mortgage insurance as a condition of enaking the loan secured b,y this Secudty
<br /> _=����� Instrument, Borrower shall pay the premiums required tu maintain the mortgage insurana in effect. If, for any reason, the
<br /> mortgage insurana coverage required by Lender lapses or ceases to be in efiect, Bonower shall pay the premiu�ns requirod to
<br /> �=s�a obtain coverage substantially equivalent to the mortgage insurance proviously in effxt, at a cost substantially equivalent to the
<br /> '�"------ cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by I.ender, If
<br /> ---��'� substantially equivalent mortgage insurance coverage is not available, Bonower shall pay to Lender each month a sum equal to
<br /> ;�4�,�� one-twelfth of the yearly mortgage in�uru►a premium being paid by Borrower when the insurana coverage lapsal or ceased to
<br />::.'-��� be in effxt.l,onder wiU accept,use and ntain these payments as a loss reserve in lieu of mortgage insurance, Loss reserve
<br /> '"��'�`�� Fam 3028 9I90
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