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<br /> . 98- 113051
<br /> 5. Ilpzard or Property (n.vurAnce. Borrower shall kccp thc impravcments now cxisting on c�rcaftcr crcctcd on the
<br /> 1'roperty insurccl againsr loss by fire, ha�ards includcd within thc tcrm "extcnded covcragc"and any othcr haia�rds, including
<br /> flcxxls or floocling, for which l.cndcr rcquires insurarcc.This insurnncc shull bc maintuined in thc nmounts rind for thc perialti
<br /> that Lcndcr rcyuires. '[hc insurancc carricr providing the insurance sliall bc chosen by Dorrowcr subjcct ta L.cndcr's approvtil
<br /> which shall not t►� unrca.u�nubly withheld. If Borrawcr fails to maintain cavcrugc dcscribcd abavc, Lendcr nwy, at Lendcr'�
<br /> optinn,obtuin coverage to protect I.ender's rights in the Properly in accordance with parngruph 7.
<br /> All insurance policie�und renewals shall be acceptuble to Lender und shull include u stnndurd mortgage clnuse. l.ender
<br /> shall h�rve the right to hold the policies and renewnls. If Lender requires,Borrower shall promptly give to Lender all receipts�f
<br /> paid prcmiums and renewal notices.In thc cvcnt of loss,BorrowGr shnll givc prompt notice to�hc;ii�surnncc carricr and Lcnder.
<br /> Lender may make proof of loss if nut made promptly by Borrower.
<br /> Unless Lender and Borrower othe»vise agrec in writing,insurunce proceeds shell bc applied to restoration or repair of the
<br /> Property damaged, if thc restoration or repair is economically feasible and Lender's security is not Icssened.If thc restaration or
<br /> repair is not economically feasible or Lender's security would be lessened, the insuraoce proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower, If Borrower abandons tlie
<br /> Property, or does not answer within 30 days a notice from lxnder that the insurance currier hns offered to settle a clntm, then
<br /> Lender may callect the insurance proceeds. Ixnder may use the proceeds to repair or restore the Property or to pny sums
<br /> secured by this Security Instrument,whether or not then due.The 30-dey period will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs t and 2 or chan�e the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Ixnder,Borrower's right to any insiirance policies and proceeds resulting from
<br /> damage to th�Property prior to the acquisition shall pass ta l.cnder to the extent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6. Occupancy, Prc.servatlon,Meintenance wnd Prc►tectlon ot the Property;Borrower's I.own Appllcwtlon; l.easef�old4.
<br /> Borrower shall occupy,establisti, and use the Property as Borrower's principal residence within sizty duys ufler th�execution of
<br /> this Securiry Instrun�ent aixl shall continue ro occupy the Property us Borr�wer's principal residence fnr ut Ie��st one year after
<br /> the data of occupuncy,unless I..ender otherwise agreeti In writfng,which consent shall not be unreasu�u�hly withl►cld, or unlesa
<br /> extenuating circumstances exist which urc bcyo�xl Borrowcr's cuntrol. Horrower shull ncx dcstroy, dumuge ur Impuir the
<br /> Property, allow thc Property to deterioratc, or commit wus�c on�hc Propcny. dorrawcr shell t�c in drfuult if any forfeiturc
<br /> uclion or proceoding,whethcr civil o�criminul, is begun thxt in l.e�ulcr's gaxl fafth juJgnunt cnuld re�ult in f�rfeiwrc of lhe
<br /> Property or othcrwise materiully impuir thC licn creutcd by this Security Instn�ment or l.endcr's tiecurity intcrcst. Fiorrowcr ne:ay
<br /> cure such e default unci reinstate, as provided in parugruph 18,by causing the uction or proceeding ta be dismissed with a ruling
<br /> that, in l.ender's good faith determinati�n, preclud�g forfciturc nf thc Borrower's intcrest in thc Property or othcr meteriril
<br /> impairrncni uf ti�c jlCU Licula� uy i�iiS°iC;CilTii� 1(i;2ii;MCSi:0: �.°..^.L�C:�� S�^L'ClC� !!1[^_f^_St, Rnr�nwr� chA�l a�cn �tE in Gefault ]f
<br /> Borrower,during the IoAn application process, gave muterially false or inaccurate information oc statements to Lender(er f'ailul
<br /> to provide[.e�xler with any materisl information)in connection with the loun evidencal by the Note. including,but not lim(ted
<br /> to,representations concen►ing Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a
<br /> leasehold, Borrower shall comply with all the provisions of thc lease. If Borrower acquires fee tltle to the Properly, ttie
<br /> leasehold ancl the fee title shall not mergc unless I..ender agrecs to the mcrger in writing,
<br /> 7.Protection ot Lender's Rights In the Property.If Borrower fails to perform the covenants and agrtements containal in
<br /> this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in tho Property (such as a
<br /> proceeding in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),then L.ender may do and
<br /> pay for whatever is necessary to protect the value of the Propeny and Lender's rights in the PropeRy. Lender's actions ma��
<br /> include paying any sums secured by a lien whicl� has priority over this Security Instrument, appearing in court, paying
<br /> reasonable attorneys'fees and entering on the Property to make rcpairs.Although L.ender may take action under this paragraph
<br /> 7, L,ender dces not have to do so.
<br /> Any amounts disburscd by Lender under this puragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instwment. Unless Borrower and I.endcr agree to other terms of payment, these amounts shall bear interest from the
<br /> datc of disbursement at the Note rate und shall be payablc, with interest, upon notice from I.endcr to Borrower requesting
<br /> payment.
<br /> 8.Mortgege Insuranee.If L.ender required moitgage insurance as a condition of making the luan secureci by this Security
<br /> Instrument, Borrowcr shall pay the premiutns rcquired to maintain the mortgagc insurance in effect. If, for any reason, the
<br /> mortgage insuranee coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required ta
<br /> obtain coverage substantiully equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to ttie
<br /> cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurcr approvcd by Lcndcr. If
<br /> substantiully equivalent mortgage insuranee coverage is not�vailable,Borrower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mongage insurance premium being paid by Borrower when the insurance coverage lapseci or ceased to
<br /> be in effcct, Lcnder will acccpt, use and retain tlicse payments as a loss reserve in lieu of mortgagc insurance, [.�ss rescrve
<br /> Form 3028 9/90
<br /> Pepe 3 0l G
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