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<br /> S. H�rd or Property �n�ar+►nce• Borrower shall keep thc improvements now epsting or hereaftcr erected on the
<br /> Property iruured against loss by firc, hazards included within thc term"extendcd coverage' and any othor hazards,including
<br /> floodc ar flooding, f.or which Lender requires insuranca This insurance shall be maintainedin the amounts and for the periodc
<br /> that l.cnder requues.The irusurance carricr providing thc insuranc;c shall bc chosen by Borrowcr subject to Lcnder's approval
<br /> whech shall not be unreasanably withheld. If Aorrower fails to maintain coverage desc�ibed above, Lender may, at l..ender's
<br /> option,obtaia covcrage to pratect Lender'F rights in the Yroperty in accorduncc with paragraph 7.
<br /> All inaurancc policies und rettewats shall b�ecceptable to Lender and :�hall include a stundard mortgage clause. L.ender
<br /> shall have the right to hald tha policies and renewals.If Lender requires,Aorrowerrhall promptly give to L.ender all receipts of
<br /> paid premiunisanJ rcaewalnoticcs.ln thc cvcnt of loss, at�rrowershall give nrampt notice ro thc inst►rance carricrand Lcndcr. �
<br /> Lender may make proof of loss if not made procnptly by Horrower.
<br /> Unless Lender and Borrower osherwise agree in wriiing, insurance proceedsshall be applicd to restorationor repair of the
<br /> Praperty damaged,if thc restorationar aepair is economically feasiblc and Lender's security is not lessened. If thc restorationar
<br /> repair is nat economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sumF
<br /> secured by this Securiry Instrument,whether or not then due, with any excess paid to Borrowcr. If Borrower abandons the
<br /> Property,or does aoi answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then
<br /> l.ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Proporry or to pay sums
<br /> secured by this Securiry Instrument,whether or not th�n due.The 30-day period will heoin when the nntir.�ic given.
<br /> Unless I.ender and Borrower otherwise agrcc in writwg, any application of procecds to principai shall not extend or
<br /> postpone tke due datc of the manthly payments referred to in paragraphs� and 2 or change the amount of the payments. If
<br /> under pazagtaph2l tbe Property is acquired by p.ender,Borrower's right to any insuranae policies and pro ceeds resulting from
<br /> damageto the Propertyprior to the acquisition shall pass to Lenderto the extent of the sums securcdby this Security Instrument
<br /> immediately prxor to the acquisition.
<br /> 6, pccupy�ncy, Preaervatioa, Malntenauce And Protectlon o[We Propert�;Borrower's Loaa Applfcnflon; Leaseholds.
<br /> Borrower shall occupy, establish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security InsUumenk and sball continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupancy,unless Lcnder otherwise agrees in writing, which consentshall not be unreasonablywithheld, or unless
<br /> extenuating circumstances e�rist which are beyond Borrower's conttol. Borrowcr shall not destroy, damage or impair the
<br /> Property, allow the Property to dcterioratc,or c:ommit waste on the Prope:ty.Borrower shall be in default if any forfeiture
<br /> action or proceeding,whethet civil or criminal, is Uegun that in L,ender's good faith judgment could result in forfeiture of thr,
<br /> Property or otherwiscmatcrially impair the�ien createdby this Sccurity Instrumentor Lender's security interest.Borrower may
<br /> cure such a default and reinstate,as provided in paragraphl8, by causing the action or proceeding to be disnissed with a ruGng
<br /> that, in Lender's goad faith determination,precludes forfeiture of the Horrower's interest in the Prope:ty or other materiul
<br /> impairmentoi the Iiea creacedby ihi,Sccuiity Iust�uaicntor Lea3er's se��:ri±;in•.e*esr.Bo*r�wershall Al��he in default if
<br /> Borrower,during theloan applicadon process,gave materially false or inaccurateinformationor statecuentsto Lender(�r failed
<br /> to provid�Ltnderwith any materialinformation)in connectionwith the loan evidencedby the Note,including, but not limited
<br /> to,representationscoacerning Borrower's occupancy of the Property as a principal residenca.If this Security Instrumentis on a
<br /> leasehold, Borrowershall tomply with all the provisions of the lease. If Borrower acquires fee tille to the Property, the
<br /> leasehold and the fee title shell not merge unless Lender agrees to the mcrgcr in writing.
<br /> �, prutectlon otLender's Rigbts in the Property. If Borrowerfails to performthe covenantsandagrurasntsc:ontainedin
<br /> this Sectuiry InsUumeat,or thore is a legal proaeding that may significantly atfect Lendzr's rights in the Property(such as a
<br /> proceeding in bankruptcy,probate,for condemnatiouor forfeiture or to enforce la�uvs or regulatioas),then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Prolx:rty. Leader's actions may
<br /> include paying any sums secured by a lien which has priority over tlus Security Ins!rument,appearing in court, paying
<br /> reasonableatt�meys'fees and entering on the Property to niake repai�rs.Although Lender may take actioa under this paragcaph
<br /> 7,Le�der does not have to do so.
<br /> Any am.ouats disbursed by Lender under this paragraph 7 shall becomc additional debt of Borrower secured by this
<br /> Securiry Instrument,Unless Borrower and Lender agree to other tcrms of payrncnt,these amounrs shall bear interest from the
<br /> date of disbursementat the Note rate and shall be payable, with interest,upon notice from I.cnder to Borrower requesting
<br /> payment.
<br /> 8. Mort�nge Insurwuce.If Lenderrequiredmortgage insurance ns a condition of making the loan sacuredby this Security
<br /> Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If,for any reason, the
<br /> mortgage insurance coveraEe required by Lender lapses or ceases to be in effect,Borrawer shall pay the premiums required to
<br /> ohtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantiaUy equivalent to the
<br /> cost to Borrower af the mortgage insurance previottsly in effcct, from an altcrnatemortgage insurer approved by Lender.If
<br /> substantially equivalent mortgage insurance coverage is not available, Borrowershall pay to Lender cach month a sum equal to
<br /> onc-twelfth of the yearly mortgage insurance premiumbcing paid by Borrower when the insurance coverage lapsed or ceased to
<br /> bein cffect.Lenderwill accept,usc andretainthesepaymentsas a loss reservein lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9/90
<br /> - (�-BHINE)�o2iti.os Pp�3 of 0 iNnrc�,�
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