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<br /> S. Hp�.ard or Prn{xrty Insurwnce. Borrower shaU keep the iniprovcments now existing or IicreaRer erectcci on the _
<br /> Property insured aguinst lotis by fire, harards included within the tenn "extended covernge" and nny other hn•r.urds, including
<br /> flocxls or ticxxiing, for which l.e:nder reyuires insurunce. This insuraixe shull be mnintnincd in the umounts and f'or the peri«ls
<br /> thut Lender requires. The i��surunce rurrier providing the insurance shall be chosen by Borrower sub,ject to I.ender's Appmval
<br /> vrhich shall not bc wveusc�nably withhcld. If(iorrower fnils to mciimain covcragc dcscribcd ubovc, l.endcr may, nt l.ender's
<br /> oplion,obtain coveruge ta protect Lender's rights in the Property in uccordance with paragraph 7.
<br /> A01 insurnnce �licies aixl renewals shull be acceptable to l,et�der und shull include a standurd mortgage clause. Lender
<br /> shull huvc�hc righ� to hold the pollcios and renew�ls. If Lc�xlcr rcquircs. Bnrrowcr shull promptly givc ro l.crtidcr all receipts of
<br /> puid premiumc aixl renewwl tx�tices. [n the even!af loss,Borrower shAll givc prompt notice to the insurunce carrier und Lender.
<br /> Le�xler nmy mukc prcxif nf loss if not made pramptly by Borrower.
<br /> Unless Leneier and Horrower otherwise ugree in writing, iiisuraike pr«:�;tcls shalt he applicd to restaration or rcpair of the
<br /> Propeny damuged, if'the restoratian ur repuir is economically feasibleund Leneler's security is not lessened, If the rostoratinn or
<br /> repAir is not u:onomicully feasible or L.ender's security would be lessened,the insurance proceeds shall be applied to the sums
<br /> secured by this Security In�trunxnt, whether or not then due, with an,y excess paid to Aorrower, If Borrower nbandons the
<br /> Property, or dixs not answer within 30 days u notice from Lender that the insurance currier has offerecl to settle u claim,then
<br /> Lender may collect the insurancc proceeds. Letxicr may use the proceeds to repair or restore thc Propeny or ta pay sums
<br /> sccured by this Security Instrument, whethcr or not then due.Tlie 30�day peri�xf will begin when tha notica is given.
<br /> Unless L.cnder and Borrower otherwise agra in writing, any app�ication of prcx:eals to principal shall not extend or
<br /> pastpone the due dute of the manthly payments referrod to in parsgrsphs 1 and 2 or chnnge thc amount of the payments. If
<br /> under paragraph 21 thc Property is acquired by L.ender, Borrower's right to any insurnnce policies und proceeds resulting from
<br /> damage to�lie Property prior to the acquisition shall pass to Lender to the extent of th�sums secural by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6. Occupancy, Pre.9ervptlon,M�Interwnce and Pmtectlon of the Property;Borrower's Lo�n Application;Leascholds.
<br /> Barrower shall occupy, establish,and use the Property as Bonower's principal residence within sixty days aAer ll�e 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 Lender utlierwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Barrower shall not destray, damage or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> action or procading, whether civil or criniinal, is begun that in Lender's good faith judgment could result in forfeiturc of the
<br /> Propeny or otherwise materially lmpair the lien created by this Security Instrument or I.ender's socurity interest. Bonower muy
<br /> cure such$defuult and reinstate,as provided in paragraph 18,by causing the action or procecding to be dismissod with a culing
<br /> that, in Trencler's good faith detertnination, pra:lud�s forfeiture of the Iiorrower's interest in the Property or other material
<br /> impairment af the lien created by this Security Instrument or I.snder's security interest. Bonower shall also bc in dcfault if
<br /> Borrower,during the loan application proc:ess,gave matcrially false or inaccurate information or statements to Lender(or faited
<br /> to provide Lender with any material infonna�ion)in connectjon with the ioan evidenwS uy iiie�oie, incfud'sng,bki nai:i:nited
<br /> to, representations conceming Bonower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> leasehold. Bonower shall comply with all the provisions of the lease, If}3orrower acquires fee title to the Property, the
<br /> loasehold and tht fee title shall not rnerge unless Y.ender agrens to the merger in writinP.
<br /> 7.Protectlon of Lmder's Rlghts in Rhe PropeKy. If Borrowsr fails to perform the covenants and agrcements wntainal in
<br /> this Security Instrument,or there is a legal procading that may significantly affect Lender's rights in the Property (such as a
<br /> procealing in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then I.ender may do and
<br /> pay for whatever is nec�ssary to protect the value of the Property and i,ender's rights in the Property. I.tnder's ections may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> roasonable attomeys' fees and entcring on th.c Property to make repairs. Although L.endcr muy take action under this paragraph
<br /> 7,L.e�xler does not have to do so.
<br /> Any wnounts disbursed by Lender under this paragraph 7 shall become additional debt af Borrawer secural by this
<br /> Security Instrument. Unless Borrower and [.ender agree to other terms of payment, these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and stiall be payable, with interest, upon notice from I..ender to Borrower requesting
<br /> payment.
<br /> 8.Mortgage Insurnnce. If Le►�der required mortgage ins¢rance as a condition of making the loan securcd by this Security
<br /> Instrument, Borrower shall pay the premiums required to maintain the it�ortgage insurance in effect. If, for any reason, the
<br /> mongage insurance coverdge required by L.ender lapses or ceases to l�in effect, Borrower shall pay the premiums required to
<br /> obt�in coverage substantially eyuivalcnt to the rnongage insurancc previously in effect, at a wst substantially equivalent to the
<br /> cost to Borrower of the mortgage insur.ar►ce previously in effect, fram an alternatc mortgage insurer upproved by Ixnder. If
<br /> substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to[.ender each munth a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by f3orrower when the insurance coveroge lapsed ur ceased to
<br /> be in effect, Lender will accept,use and retain these paytnents as a loss reserve in lieu of mortgage insurancG. Loss reserve
<br /> Form 307.8 8/90
<br /> Paya 3 of 8
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