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<br /> 5. Hazard or Property Insuranse. Borrower shall keep the improaen,ents now existing or hereafter erectcd on the
<br /> Property insured against loss by fire, hazarcls inc]LdeQ within" the terrn "extended coverage" and any other hazards, i�tCludirlg '
<br /> fiocds ar flooding, t'ar�vhich I.�nder requirPs insuranr�. 'This insurance shz?1 be maintained i.t the amounts and for the periocis
<br /> chat I.ender requires. The insurance carrisr providing the znsvrance shall be chosen by E�orrower subject to Lender's approval
<br /> which shall aot be unreasonably with6eld. If �oxrower faiis to maintain coverage described above, I.ender may, at Lender's
<br /> ogtion,obtain cavcragc to protcct L.ender's rights in tht Property in accordancc with paragragh 7.
<br /> A11 insuranzc pcaliGics an� r:,newals shali he acceptablr to Lender and shall include a standard rr�ortgage clause. Lender
<br /> shall have the right to hold the policies and renewals. If Lerder n:quires, Bonawer shall promQtly give ro Lender a!1 receipts of
<br /> gaid premiu�ns and rencwal notices, Tn tha event of loss, Bortow�r shall gi�.,.prompt notice to the insurance carrier and L,ender.
<br /> L.ender may make proof of loss if not made promptly by Borro�ver.
<br /> Unlc..cs I.ender r,nd Bormwer uihezw�ise agree in writing, insurance prar.feds shatl be apptied to restoration or repair of the
<br /> Property damaged, if the resioration or rtpair is economiralky f�easible utd Lxnder's sei:urity is not lesscned. If the restoration or
<br /> r_pair is nct economically feasible or Lcndtr', securit�woul�Se lessened, tY�e insurance proceeds shail be applied ro the sums
<br /> s�cured by this Security Instrument� wheeher or nat then due, wid3 any excess paid to Bono�•er. .f Borrcwcr abandons the
<br /> Properry, or dors not answer within 30 days a natic� trom I.endec that the insurance carrier ha:. offered to settle a claim, then
<br /> Len�er may collect the insurance proceeZs. Lender may use the proceeds to repair or restore the Pr;:perty or to pay sums
<br /> srrured by this SAcurity Inst�umeni,whether or noc then du�.T'he 30-day period will begin when the notice is given.
<br /> Unless iznder and Bflnower otherwise agree in writing, any application of proceeds to prirtcipal shall not extend or
<br /> post�one ahe due date nf the menthiy paymerts r�fe�ed to in paragraphs 1 �nd 2�or change the amount of the paymencs. If
<br /> und�r paragraph 2i the Pmg�erty is a,;quired by L,ender, Borrower's right ro any iasurance policies an� procecds resulting from
<br /> darnage to the Pxoperty grior to the acquisition shall rxss to I.Bnde:to the eztent of the sums secured by this Security Instrument
<br /> immediaYeiy prior ro the acquisition.
<br /> 6. �Occupancy, Preservation, i�1(aintetnattce and Protection of the�Prtipert��; Borrower's Loa�t AppllGation; Leaseholds.
<br /> Borrow•er sh�ll occvpy, establish, and use th�Prcpeny as Borrowe.'s prir.cipal residence within sixty days after the executiort of
<br /> this Security Instr,�ment and shall contiz�ue to occupy ;he Property a. 8orrower's principal tesidence for at ieast or.�year after
<br /> the date of a�rupancy, unless Lender otherwis�e agrees in writing, wlzich cor,sent shall not l�e unreasonabiy withheld, or unless
<br /> extenuating c�rc:�mstances eaist which are beyond Borrower's control. Bottowe* shafl not destroy, damage or impair the
<br /> Prnperty, aliow th� Property to deteriorate, nr commit waste on the Property. Borrower shall be in default if any forfeinire
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment cou!d res��lt ir, forfeiture of the
<br /> Property or otherwise materiaily impair the li�n createci by this Security fns�rument or Lender's security interest. Borrower may
<br /> cure such a defiault and reinstate, as provided in pa:agcaph 18, by causing¢f��action or proceeding to be dismissed with a rulir�
<br /> that, in Ixi;der's good faith determina:ion, precludes forfeiture of the Borrower's interest in the Property or �ther material
<br /> impa:rment of d-,P lien crta:ed by this Secur.., instrument or Lender's security interest. Bonower shall als� be in defau!t if
<br /> Borrower, during the loan applicatia�process,gave�aterially false or inaccurate information�r statem�nts to Lender(ar �ailed
<br /> F to provide Lender with any materiat info;mation) in connection with the lo:u� evvidenccd by the Note, includinfi, but nor i�;,iiree;
<br /> to, representations conceming Bonower's occupancy ol'the Property as a principal residence. if this Security Iristrument is on;�
<br /> leasehold, Borrower shall comply with all the provi�ions of ihe lease. If Borrower acquires fee title tu the Property, the
<br />� lcasehold and the fee zitle shail not merge unless T.ender agrees co the merger in writing.
<br />'� 7. Proteciion oi'Len�ler's Rig6ts in iiic�roQerty. If Borrower fails�o perform the cover�ants and agreements contained in
<br /> d this Security Instrument, or there is a tegal proceeding that may si�niGcantly affect I.ender's rights in the Property {such as a
<br /> lroceeding in bankruptcy, probate, for condemnatio�i or forfeiture or to enforce laws or regvlations), then Lender may do and
<br />: pay for whatever is necess�ry ro protect the value of the Fr�perty and Lender's rights in the Property. Lender's actions may
<br /> J i:;clude paying a�iy sums secured by a lien wh'sch has priority over this ,,ecur.ity Instrument, appearing in court, paying
<br />' reasonable attorneys' fees and entering on the Propercy to make repairs. .�lthough Lender may take action under this paragraah
<br />' 7, L.eader dxs not have to d�so.
<br />= Any amounts disbursed by L.en�ier under this paragraph ? shall became additional debt of Borro�v�r secured b� this
<br />; Securiry Insirument. Unless i�orrower az�d Lender agree to other terms of payment, these amounts shall bear inte;est from the-
<br />` date of disbursement at the Nate rate and shall be payable, Nith interest, upon notice from Lender to Bo:rower requesting
<br />� payment.
<br /> 1 S. Alortgage Insurance. If L.ender required mortgage insurance as a condition of making the loan secured by this Security
<br />; Insirument, Borrower shall pay the premiums required to maintain the mortgag�, insurance in effect. ;f, for any reason, the
<br />� mortgage insurance coverage requir�d by l.ender lapses or ceases to be in effect, Bonower shall pay the premiums re�uired to
<br />; obtain coverage substanually equivalent to the mongage insurance previously in e�ffect, at a cost substantially equivalent to thr
<br />� cost to Borrowcr of the mort�age insurance previ�t�cly in effect, from an altern;ate mortga�c insurer approved by Lender. ]f
<br />; substantially rquivafent mortgage insurance covr.rage is not available, Borro«�e:shali pay to Lender each month a sum equal ro
<br />� one-twelfe}� of the yearly mortgage insurance premium being paid by��rrower when the insurance co�•�rage la�sed or crased to
<br /> f be in effect. I.ender wili accept, use and retain tt�ese payments as a loss reserve ira lic:u of mortgage �nsurnnce. Loss reserve
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<br /> Form 3'J28 9190
<br /> ��BYSNE)f9Y72f.01 Psps 5 0�s
<br /> Initlulr.��"�
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