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<br /> S. Razs►rd or Property Insurance. orruwcs sha11 keep tl�e improvemen naw exisung or hereafter erected on thc
<br /> Property insured againsi Io�,e by fire, har�ttd includecf within the term "extended coveragE' end any other hfuards, inciuding
<br /> floods or flc�oding, for which Lcnder requir insurance. This insurance shall be int,iined in the amounss and for Uie peziods
<br /> that Lender reyuires. '!�e insutance carrier roviding the msur:uice sh�dl be chose by Borrower subjt�ct w I;ender's approval
<br /> which si►alt not bc unrcasonably withheld. I Borrower fails ►o maintain coverag desctibed above, C.ender may, at Lenciex's
<br /> option,obrain cuverage w protec:c Lender's r+g tq in ihe Property in accordance with �uagraph 7.
<br /> Alt insurance �ficies and Tenewats sh tl be acceptxble ta Lender �nd shaU iru;tude a sa�ndud mon�age clause. Lender
<br /> shall havc thc nght W fiold the policies and r newals. if Lendcr rcquires, Borrower shall prompdy give�o LenAcr all rec;eipts of
<br /> paid premium5�nd renew�,t noUtes. In tfte ev i of ic�ss, Horrowcr sha11 gn+e prom t nouce to the insurance; c�urier ancl Lender.
<br /> Lender may make�rroaf of loss iF not mattc pr mptly by Borrower.
<br /> Unles� Lettdsr and Borrowcrot!►erwise gree in wriung, insurance procceds s a11 be:applied to restoration or repair of the
<br /> Property dsun;�;ecl, �f ihe res[oracion or repeir is ccvnomically feasible ar►c1 Lender's security is nv�Icssened. if the restorauon or
<br /> repair is not econc�mically feesible pr i.ender s security would bc lesseneci; the ms rancc proc:eais shall t�e appiied to the sums
<br /> secured t�y this Security Inst�ument, whethe or not then due, wiU� any ezcess p id w Borrower. If Bormwer abandons the
<br /> Pr�perty, �r cic�es not nnswer within 30 days�nopCe kom �,ender that the insu e caTrier has offered tn setde a claim, chen
<br /> Lender may rnlleet U►e irtsur�nce praceeeis. C.ender may use the proceeds to re ir o� rescoi�e che Pro}�ercy or to pay �ums
<br /> sccureci by this Sec:urity Insvumeot,whether not tlaen due.The 30-day penaci will gin when the nolice is give;n.
<br /> lYntess Lender anc# Borrower otharw' agrcc in wriung, nny application pmceeds W prinCipa,l s6x11 not extend or
<br /> poscpone the due date of ihc monti�iy p�y ts referred to in para�raphs ! erui or change the amount of the paymcnis. 1f
<br /> under paragraph 21 ihe Property is acquired Lender, �orrower'� cight t0 8rty in u[;u�c�poficies end pmceeds reSUlpng frOm
<br /> dam:tge to the Property pti�r to thc acquisitio shall pass to Lec►der to the extent of c sums se<:urrd by this Securiry Ins[rument
<br /> irrtmetliately pzinr to the acquiciuon.
<br /> 6. Occupancy, Preservation,MaintenA e and�rotection of the PrppertY; �cower's Loan Applicatiron; Leaseholds.
<br /> Barrower shall cx:cupy, es�blish, ertd use the Pr�rty ac Berrower's principal resi ce withirr sixcy deys afrcr the exeeud�n of
<br /> this Sex:urity InsQUment and ahall continue occupy the Property as Borrower's incipal residence for at least one year afcer
<br /> the date of occupancy; ualess Lencter �tl�erw' agrees in writing, whieF�ce>r►yent s a11 not be urtreasonably withheld, or untess
<br /> cxtcnuating circum5t;ux:es exist which are yond Bonower's control. Borzowe shall not destroy, damagc �r impair the
<br /> Property, allow the �roperty to dckeriorabe, cc�mcAic w�ca on the Pro�erty. B rrowe� s#ui} be in defanit if any forfeiture
<br /> acuon or proc�ectxnb, whether civil or crimi , is t�egun that in Lender's good fai h judgment coutd result in forkeiture of the
<br /> Pr�perry or otherwise materialLy impai�tha ' crr;at�;d bg this Securiey Inurameau or LenAer's sCC�iEy iniezesE. Borrower may
<br /> cure such a default and reinstate, as provided ' parngraph l8, by causing the actio oc proceeding to be dismissed with a ruling
<br /> that, in Lendec's gond faith dctamination, celudes forfeicure of [he Borrower' in�erest in the Prope�ty en other material
<br /> impairment of the licn erE;ate:d by this Secur ty [nstrument oc L,ender'c seeurity i eerese. Bor�ower shall alu� be in default if
<br /> Borrower, cturing the loan application p gave.msiciially faLie or uuzccurate ' ormation or s�tement�to Lenclr.c(c�r ftilecl
<br /> w provide Lender with any ma�crial inform,u n) in connecuon with the loan evide ced by the Note, including, but not timited
<br /> to, represeniatio�s cvnc;erning_Bonower's oc upancy of the Propssty as a pnncipal esidenc�. If this Sscurity lnsuument is w�a
<br /> leusehold, Borrower sha[! comply wi�h all c provisi�ns of the te;ase. If Borro er acquires !ce t;dc w the Propercy, the
<br /> kasehold and B►e fee tide shall not mcrfic unle Len�ier agrees to the mecger in wridn .
<br /> 7. Protectton ofLender's Righty in t Property. !f Borrower fails co�rfo the co�r,r►ants and agreemencs contained in
<br /> this Seeurity In��ument, or thece is a legai oceuiing that may signit�candy ��tf Lender's cights in the Property (such as a
<br /> prex:ee,eling in bankruptcy, probate, for eond naGon or forfeiture or to enforce ls s or regalations), then Lender may d�snd
<br /> pay for whatever is necessary to protect the alue of the Picoprarty and Lender's r' hcq in the Property. LCndcr's actions may
<br /> include paying any sums secured by a lien which has priority ova this Seeur ty Instrument, appearing in courc, paying
<br /> nea3onable �ttocneys' fees and enteriag on che Pmperty oo make re�airs. Alchough nder may take actian undec this QaragraDh
<br /> 7,Lender dces not twve to do so.
<br /> Ar�y curtotmts disbursed by Lenda un cr thi� para�ph 7 shali become • ditional debc o[ Bocrowcr sec;ureci by this
<br /> Securiry lnscrumcni. Unlcss Borrower and C der agree to other tenns of�aymcn these amounts sh�ll beu in[eresc from the
<br /> dete of disbursemer►t at the IVotz ratr and s 1 be payabie, with interest, u�on oUCC firom I,ender w Borrower requesung
<br /> payment.
<br /> 8. Mertgage#nsm•rnce. If Lender requ' rrmrtgage insuran�e as a condiuon of maicing the ioan securect by this Secu�[y
<br /> Instrument> Borrowcr shafl pay cfie premium recZuueci to m�inrain che inortgage 'nsurance in eff�:t. If, for any reason, the
<br /> mortgage inaurance co�erage requirM by L er laps�es or cx,a.ces tc� be in effect, B rrower shxlt pay the premiums required tc�
<br /> ob4+in cover:tge substantially equivatent to th morcgage insuranc:e previously in ef ect, at a eost substantiaUy cquivuienc w the
<br /> cnst tn Borrowcr ol' ehe mo�Eg�be ictsantnce reviou.cly in effect, frc�m an altesn� mort�nge insurer approved by Lender. Tf
<br /> substantiaUy eyuiv�ient mortgage insurance c veragc is not avai)uble, aorrower sh 1 pAy tn Lender each month a �um equal w
<br /> one-twelfth of the yearly mongage e,nsurance emium being paid by Bormwer whe thc insutlnce coverage lapsuf or ceasul ta
<br /> be in cffect. Lc:nder wi11.�ccept, use and retai these paymEnts As a loss reserve in ieu of mortgage insurance. l.,oss rescrve
<br /> Fmm 3028 9190
<br /> ��6R(NE�f92tpLOt P�ge 9of tl ���.���,
<br /> MFNESt11-(YZi9� imx��ro
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