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<br /> �� • S. Haz�rd or Pmperly Iasur�nce. Borcower shall kap the improvements now existing or"h�fe�ft�t4�b�f�e
<br />:� . Property inaured�gainet loss by fi�e, hazuda lncludod within the term "extended coverage" and any othor huards, including
<br /> flnoda or floading, for whlch Lender requires insurance. This insurance shall be maintai�ed in�he arnounie and for the periads
<br />-���'- ihat Lender requires. The insurance canier providing the insurance shall Ue chosen by Borcower subJect to Lender's approval
<br />...�•�1 which sk�all not be unreasonably withheld. If Bonower fatls to maintain caverage described above, Lender may, at l.ender's
<br /> �g,� option,obtain wverage to protect l.ender's righis in the Aroperly in accardance with paragraph 1.
<br /> --°, All insurance policin and renewals sh�ll be�cceptable to Lender and shall include a stmdard modgage�lause, Lender
<br /> '�� � shali have the right tu I�old thr.policies and renewals. If Lender requires, Borrower shall gromp�ly give to Le.nder all receipts of
<br /> =;� paid premiums urd renew�l notices.In the event of loss, Borrower shall give prompt notice to the insuranu carrier and l.ender. --
<br /> l.ender may make proof of lass if not cmde�romptly by Borrower.
<br /> ����� Unitu Lender and Borrower otherwise�gra in writing, insurance proceeds shall be applied to restoruion or repair af the
<br /> ' Propeny dunaged, if the rcstoration or rcpair Is economically feasible and I..ender's saurity is not tasuned.if the restoration or
<br />.�'� repair is not economically feusible or 1_ender's security would be lessened, the insurance procads shdl be applied ro the sums
<br />.� cecured by this Securiry Instrucnent, whether or not then due, with aay excess paid to Borrower. If Borcower abundans the
<br />--_— Property,or does not�nswer within 30 days a notice fram l.ender that the insuranee carrier hu offered to setde a claim,then
<br />-:�� Lender may collect the insurance pcoceals. I.ender may use the proceeds ro �epair or rcstore the Property or to pay sums
<br />=--= securcd by this Socuriry Instrutnent,whether or not then due.The 30-day period will begin when the notia is giNen.
<br /> - Unless Lender and Bonower otherwise agra in writing, any application of proceecls io principal sball not extend or
<br /> postpone the due date of thc monthly payments refenal to in paragraphs l and 2 or change the amount of the payments. If
<br /> under paragraph 21 thc Property is xquired by Lender, Borrower's right to any insurance polici�s and proceeds resulting from
<br /> -- damage to the Proporty prior to the acquisition shall pacs to I.ender to[he extent of the sums savred by tbis Saurity Instrum�nt
<br /> -- immediately prior to th�acquisition.
<br /> f.Occu�ney, Preserv�tbn, M�iatenAace aad Protecdoa ot t6e Property;Bon�ower's Loan Applk�doa;Lea.x6olds.
<br /> _�'-" Borrower sh�ll occupy,establish, and use the Property as Borrower's principel rosidence within sixty days afur the exceudon of
<br /> this Securiry Instn►ment�nd sh�ll continue to occupy the Property as Borrower's priacipal resi6en�:e for� leut one year after
<br /> the date of occup�ncy,unless L,ender otherwise agrees in writing, which wnsent shall not be unraasonably withheld, or unles�
<br /> �� extenuating circumaances exist Wrhich ane beyond Borrower's control. Borrower shall not destroy, duniage or impalr th�
<br /> � Property, allow ihe Pmperty to daerioratc, or commit wasta on the Propeny. Borrower sh�ll be in def�ult if any forfeitun
<br /> xtion or procading,whether civil or crimiiul, is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materi�lly imp�ir the lirn crexted by this Security Instrument or Leuder'�security iatonst. Borrower may
<br /> cun such a defiult and reinstate,as provided in paragr�ph l8, by causing the xtion or proceeding to be dismiued with a ruling
<br /> that. in L.ender's ¢ood futh determinxtion. D��udes forfeiturc of the Borrower's interest in the Pcopercy or other rtwterial
<br /> im}�aim�eat of the lien created by this Secwiry Instrument or Lender's sccudty interest. Borrower shall alao be In def�ult if
<br /> Aor.^�wer,during the loan�pplication proces�,gave an�terially felu or inaccunte information or�tatemenu to Lender(or failed
<br /> to pmvide l.axier with any muerial infom�ation)in conaection with the lwn evidenced by the Note,including, but not limlted
<br /> to.reprexr►tuions c:oncerning Borrawer's occupancy of Uu Property as a princip�l rcsidence. If this Security lnstrument is on a
<br /> - lasehold, Borrow�r shall comply with all the provisions of the lea�e. If Borrower acquins fee title to the Property, the
<br /> l�aaeh�ld uxt the fee title shall nox merge unless Lendor agras co the merger in writing.
<br /> - T.Protection ot Lender's Ria6ts ta the Property. if Bormwer fails to perform the covenoats and adreements containod in
<br /> this Security Instrument,or there is a legal proceeding that may significantly affext Lender's rights in the Property (such as �
<br /> procetding in bankruptcy,probate,for condemnation or forfeitun or to tnforce laws or nguletions),ttxn I..ender►nay do and
<br /> pay for whuever is necessary to protect the value of tbe Propeny and Lender's rights in the Property.I.onder's�ctions may
<br /> include paying eny sums secured by a lien which hac priority ovcr this Security instnxmrnt, appe�ring in court, paying
<br /> reasooable utorneys'fas and entering on the Property to make repairs. Althuugh Leader may tnke xtion under this puagraph
<br /> 7, Lrnder does not have to do so.
<br /> Any amout►ts disbursed by Lender under this puygraph 7 shall become additfonal debt of Borrower secured by this
<br /> Security lnstrument. Unlas Bormwer and I.ender agm to other terms of payment,these amounts shall bear intercst from the
<br /> date of disburxment at rhe Note rue and shall bo payable, with interest, upon notice from Lander to Borrawer requesting
<br /> _ psymrnt.
<br /> S.Mortgaae Iawnace.If L.ender required mortgage insurance as a wndition of making ihe lout saured by thEs Socurity
<br /> Instrument, Bo�rower stull pay the premiums required to maintain the mortgage insurance in efftct. It, for any neawn, the
<br /> mongage i�uuruxe coverage cequircd by L.ender lapses or ceases to be in effect, Bonower slull pay the premiums nquircd to
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substarnizlly equivalent to the
<br />_� cost to Borrower of the mortgage insurance previausly in effect, from an alternate mortgage insuttr approved by Ltnder. If
<br />�:=�,� substu�ti�lly aquivalent mong�ge insurance covcrage is not available, Borrower shall pay to LendCr each�eonth a sum equal to
<br />-+t� one-twelfth of the yearly mongage insurance prtmium being paid by F3onowcr wl�en the insurance cover�ge lapsai or ceased to
<br /> be in effce[. I..ender will xcept,use and rttain theu payments as a loss reserve in lieu of martgage insurance. Loss reserve
<br />- Fom,sosa s�90
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