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<br /> S. H�:ud or PropeKy In�urance. Borrower ehall keep the improvemenu noN exietin�or heratur areoted on
<br /> the Property insurod�Qaioat loes by tiro.iu�rde included wlthin the torm "extended coven�o"�nd�ny other tuzuds,
<br /> inoludin�tlooda ar flaodin�.for Nhich Lender roqu�reo insunna. This inaunnce shall be mainainod in the amouna
<br /> . and tor the perlads ehat l.ender roquireo.The iruunnco catrler provldin tho in�unnce slull be choeen by Aorrower
<br /> aubjact to Lender'��pprovd which�hall not be unrason�bly Mithheld.It�erower/aii�to m�inain covera�o daocribed
<br /> above.Lender m�y.at Lander's option,obt�in covera�e w proteat Lender'�ri�l►ts in the Property in�coord�noe Mith
<br /> 'r`' pa�p�7.
<br /> - Ali ituunnce policies and ronaa�le ah�ll be accept�bie to l.ender md ehsll include a standard mart�a�e clau�o.
<br /> '�� ��:..:,�",}:j Lender shall have the riRht w hold the policias�nd ronew�ls. It Lenderrequires, Borrower shall promptly�ive to
<br /> ..... Lender�ll ncaipts afp�d prem{ume end ceneNtl noticas.ln the event ol lae+�,Horrower shdl give prompt notioe tn tha
<br /> v '�,r�,�":" ~w.;�:,, imutance cArrier�nd�der.Londer m�y make proot ot laee it nat made promptly by�ormwer.
<br /> �.;,' ' Unlees Lendcc�nd Horrower othorwiee��ree in writin�,insuanaa proceeds ehall be applied to restoation ar repair
<br /> � � ai the Property dam��ed,it the restontion ar rep�ir is economically(tasiWe ond Lender's security ia not lerssened.It the
<br /> '``�`�'�� roetor�tion or rep�ir is not economically fasible or L.ender s eecurity wauld be leseened,tho ineuance proceede shall bo
<br /> ``�� �pplied to the eums exured by tlus Security inetrument,whether or not then due,with any excesa p�id to Borrower.If
<br /> :�:�� �•���, ,':,. :_' Aorroaet ab�ndone tho Property.or doea nat anawer within 30 d�ys a notice(rom L.endcr th�t the inaur�nce carrier hss
<br /> ��'` a`°'" offerod to settlC a cl�im,then Lrnder may collect the ineunnce proceeda. Lender' msy use the proceads to repair or .�
<br /> � `'•�� rcatoro the Proparty or to p�y sums seeured by thlsSeeurity Instrument�whether or not then due.The 30-dsy periad aill
<br />#t -`'� X�:. ;'. . �� . � be�in when the notico is grven.
<br />�'r .._� � �S� Unlosq Lender and Borrower otherwiae agroe in w�Itin�,�ny application of procoeds to principal sh�ll not eit6nd or
<br /> „` post pone the due date o[the monthly payments roferred to�np�r�Brephs 1 and 2 or change the smount ot the paymenta
<br /> :, ;': . It under paa�rapfi 21 the Property is acquired by Lender. &�rrower's right w any inaurance policies and prac�cls ,: �.
<br /> resultin�from d�ma�e ta tha Property prior to the acquisition shall pess w Lender to the extent of tha sums exurod by • '?�'�' '
<br /> ` thie Sacurity(nstrumrnt immediate]ypn or to the�cquisition. '°�
<br /> ;�,, . 6.��P.4�y.Preservation.Maintensnce snd Protection ot the Property: Bonower s l.oap Applic�tion; .;:X�.f�,,. .
<br /> ' � l.easeholds.Borrowa�shall occupY.establish.and use the Property�a Aorcower's principal residence aithin eixty d�ys �".�,.�•;:�•:; ..
<br /> , � . after the exxution ot this Security lnstrument snd shall continue to occupy the Property es Horrower's principal
<br /> residsnoe for at Ieast ona year dter tho date oi occupsncy,unless I.ender otherwise a�in writing.which consent shall •
<br /> ' not be�mreasonsbly aithheld,or unless esur►uatine c�rcumstancea exist which sre bayond$orrower's control.Borroaer •���a:••;
<br /> sh�ll not destroy,damagc or imp�ir the Property.allow the Property to deterionte,or commit waste an the Property. d��;�=-�'.'�
<br /> � Horroaer shall bo in default it any[orteituro action or proceedin�, ahether civil or criminal,is begun that in Lender's •
<br /> good f�ith jud�ment could result in tor[eiture ot the Proparty or otherwise msurislly impair the lien creatod by ehia •� ',�
<br /> i ' Se�aurity I�trument or I.ender's security intarest. Borrower may cure such a detsult and reinstate.as provided in •�•:.4
<br /> paragraph 18, by causing the action or proceedina to be dismissed with a ruling thet, in Lender's good faith r . !'
<br /> � determinstion,procludes tart�ituro ot the Borrower's inurest in the Property or other material impairment ot the lien �!; `
<br /> - -- -----_=� cl"eitaj by i}us SCt:urliy IluirUi�i�li OP I.eii�i�b S6Ciliiij%IiitCtCSi.Borroaer sha!!a!�be ia defsulL it Eorrowes�duriaS ` -_--
<br /> ' '_,,,r.
<br /> the loan application pracess, gave materially talsa or inaccurate in�ormation or statements to Lender (or f�iled w ' ♦ �
<br /> provide Leadar aith any msteri�l information)in connection with the loan evidenced by the Note,including,but not I : . •' ,j„�,;.,;1,
<br /> limited to.representatione rnncerning Be�rrower's occupancy ot the Property as a principa! residence.It this Security , St' ';.?
<br /> � lnstrummt is on e leasehold.Borrower shall comply with al)the provisions ot the lease.IP Borrowe�acquites fee title to �'�Y!�
<br /> the Property,the leasehold and the fee title shell not merge unless Ixnder agrees to the merger in writing. ��'
<br /> 7. Protection ot Leader's Rights in ihe Property. It Barrower(ails to per[orm the covenants and agreements
<br /> .�, contained in this Security Instrument,or there is a legal proceeding that may si�mticantly atfe�t L.ender's rights in the '•� �,� �
<br /> � Property (such as a proceeding in bankruptcy, probate. tor condemnation or forPeiture or to entorce laws or . ;�..�
<br /> �+� rcg�lations),then I.ender ma�•do and pay tor whetever is necessary to protect the value of the PropeMy and Lander's . .
<br /> �a' rights in the Propeny. l.ender's actions may include paying any sums secured by a lien which has priority over this �
<br /> r' Security Instrument,appearing in court,paying reasonoble attorneys'fee.s and entering on the Property to make repairs. '
<br /> . Although l.ender may take action under this pangraph 7,l.ender does not have to do so.
<br /> � Any amounts disbursed by Lender under this paregraph 7 shall bexuo�C additional debt of Borrower secured by this ,
<br /> Security Instrument.Unless Borrower end l.cnder agree to other cerms oP payment, these amounts shall bear interest "
<br /> irom the date ot disbursement at thc Note rate and shell 6e payable.with interest,upon notice from Ixnder to Aortower
<br /> requesting payment.
<br /> 8. Aiort�a�e losunnce.lf l.ender required mortgage insurance as a condition ot making the loan secured by this
<br /> Security Insuument,Bovrower shall pay the premiums required to maintain the mortgege insurance in effect.lf,for any .
<br /> reason, the mortgage insurance coverage requireci by Lender lepses or ceases to l�e in et�ect, Borrower shall pay the
<br /> premiums required ta�btain coverage substantially equivalent to the mortgegB insurance previ��sly in effect,at a caqt
<br /> sobstantially equivalent to tha cost to Aorruwer of the mortgege insurance pre�•iously in efte�:t, trom an alternate ,
<br /> mortgage insurer approved by Lendcr. If substantially equi��alent mortgage insurance coverage is nat evailable,
<br /> Borrower shell pay to l.ender each month a sum equal to�ne-twelfth of thr�•early mortgage insurance premium t+eing
<br /> � paid by Borroa'er when the insunnce co�•erage lapsed or crased to b�in effect.lxnder N ill accept, use and retain thesr
<br /> payments as a loss rese�ve in lieu of mongage insurence. Loss resen•e pay�ments moy no longer be required,
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<br /> � . FN�n 302� l/90
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