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<br /> 5. Hazard or Pmperty Insurnncc. Barn�wer shdl keep the improvements n�w existing or herrAfter erectrd on tha
<br />— ___ _ _ Propeny insurcd a�ainst lass by fire. hu�.ards incl��dcd within the term °extended caveruRC" ctnd any ather hazArda. includ3ng �.
<br /> �� � � Aonds or flaading.far which l.ender requires insurunce.l"his insurancc xhnll be m�intuined in thc umoums and for the periads
<br /> -- that l.cnder requires. The inaurunce carrier providing the insurance shnll be chusen by Borrower subJect to i.ender's approval
<br /> which Rhnll not bc unrcasanably withheld. if Barrawer fails to mairttain caverage descrlbed ahove, Lender may, at Lender'�
<br /> � aptiun,obwin covernge to protect Lender's rtght�in the Pranerty in acrardance with paragreph 7.
<br /> ;- . � All inaurunce Policies and renewula shail be ac�ptable ta l.ender and shall Include a rtundArd mangage clsuse. [.ender
<br /> shall huve the right to hold the palicies und renewnts.If Lender requires,Aorrower tihaN promptly give to L.ender a!I receipt5 of = - - -
<br /> paid premiums and renewal natices.In the event of lass.Hntrower shall give prompt nntice to the insurance carrler and I.ender.
<br />- °� � �,., , I.cndcr may make praof of loss if not mede pramptly by Borrawer. _
<br /> '�;�:�x Unless Lender and Aonower otherwise ugree in w�lting,insurance procetds shall be applicd ta restamtion or repair of the
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<br /> , '.�,:r�-:� �!; :�_•,�;., Property demaged,if the re.gtoration or repair is economically feasible and Lender's s;ecudty is�at Icssened. If the restaration or
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<br /> , � ,�y..:,:.,-. ;:��:r.<�;;:r repair is not ecanamically feasible or[.ender's security would be lesr,ened.the insurance proceeds shall be app to e sums
<br /> :;���_: secured by this Securiry Instrument. whether or not then due. wtth any excecs paid to Bormwer. If Borrower abandons the
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<br /> ' r��', f .•,� Property.or does nat answer within 30 days a notice fram[,ender that the insurance carrler has offered to settle a cialm,then
<br /> fJ . � '' '�� • •� ,' Lender may callect the insurance pracceds. I.ender may use the proceeds to repair or restore the Property or to pay sums ==_—
<br /> f ,; sccured by this Security Instrument,whether or not then due,The 30-day pertod will begin when the notice is given. - ,,,,
<br /> p� Unless [.endcr and Borrawer otherwise agrce in wdtin�,eny applicutfon of procced5 to principal shalt not extend or ���'���;4�:��-•-
<br /> � postpone thc due date af the monthly puyments refcrred to in paragraphs I and 2 ar chan�e the amount of the payments. If �'���_-
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<br /> . �`.. . .. . underparngraph 21 the Property is ucquired by t..ender.Barrower's right to any insurance policies and proceeds resulting from ;�,�r���_�
<br /> t ,,; damage to thc Property priar ta the acquisition shail pass to I.ender to the cxtent c�f the nums sec:urr,cl by ti�is Sec:urity instru�ne�t • -•;-
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<br /> i . ,. immediately prior ta the acquisitiun. ,
<br /> 6.Occupancy,Pre.cervation.Maintenance and Protection oP the Praperty;Borrower's I.oan Applicatian;Lea.4eholdv. �4''�'�''
<br /> ' Borrower shall occupy,establish,and use the Property as BaROwer's p�incipat residence within sixty days after the executlon of �`°`�`�v
<br /> this Securiry lnstrument and shaU continue to occupy thc Prapeey as Borrower's principal r�sidence for at Ieast one year after ;4s�••'�:-
<br /> ^' the date of occupuncy.unless Lender otherwise a�rees in wdting, which cansent shaU not be unreasonably withhe(d, or unless � � �;`��
<br /> �.. extenuutin� circumstances exist which are beyond Borrower's control. Borrower shail not destroy, damage ur Impair the :u� K,�:
<br /> •• Pmperty,allow thc Praperty to deteriorate, or commit wa.uc an the Property. Bormwcr shall be in default if any forfeiture
<br /> � • uctian or proceeding. whether civil or criminal, is begun thut in Lender'ti goad fuith judgment cnuld result in forfeiture e�f the •�";� ,.���,�--��
<br /> � Pmperty or othcrwixe matcrially impuir thc licn crcutcd Ay this S�curjty[nxtrumrm ur L.endcr's tiecuriry jntcrext. &irmwcr may � "�^^- -
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<br /> ' ` ., cure such u defuult und reinstutc,u.+providcd in purugruph IN, hy cuutiing thc uctian ur pnrcccJing to bc dismi�scd with a ruling �
<br /> -_ -- -., thut, in I.cndcr's goaci Puich dctcrminuiiu�i. �irc�S�;d�. f�irfcitu:c ot'ih� &irrou•cr'� isi�rc;t i:�thc Pruperiy or c,thcr nwtccia! � . _
<br /> � ., impuirmrnt cif thr licn rmutcd by this Security Imtru�iniit uc lAnder'� �crurity intcretit. Borrower shull ul+c> be in defuult if •��-�,_
<br /> ` linrr��wrr,Juring thc loun appiicutinn proce+x.guve m:�teriully ful+r u�inuccurutc infarmiuion or stutcinents to I.endcr(or fuiled _s—
<br /> � tn prnvidc l.endcr wtdi uny muteriiQ inli�rmutlon) in r��nnection with thc loun evidenred by thc Note,including.but not limitcd ��-
<br /> ta, rcprexcntation+conccrning Botrowcr's occupuncy cif�hc Pruperty uz u principul rc+idcncc. If this Sccurity lnstrume�t is on a -°T-'�
<br /> ; Icu�chuld, Bcnrowcr �huU comply with ull thc provi�inn+ot' Uic Icusc. If Bnrrowcr ucyuires fec tiUc to thc Property, the �'"-_��
<br /> ' Ieasch��ld und thc fce tidc.hull ncn mergc unless Lender agre�s to thc rncrgcr in writing. •• �}i�
<br /> 7. Prntectton�f I.ender's Rights in the Properly.f t'&►rrower fai�s tn perfonn the covcnAnts and ugreements contained in . <<�
<br /> • � this Sccuriry instrumcnt, or there iti v Iegul pnxccdin€thut may signifiruntly af'fcrt I.endcr's rights in the Property (such as a �:;� •_
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<br /> - pr<>cccding in bunkruptcy,probau, for candcmnation or fiirfciturc or to cnforcc luw,or regulutions), thcn Lcnder�nay do and , :►a��'-_..
<br />� pay for whutever is necexsury tu protect the value af the Property und I.ender's rights in the Property. L.ender's actions may � ,4`+==;`;�
<br /> " include payin� uny sums scrurcd by u licn which hu. priority over thi+ Sccurity Instrument, appearing in court, paying �3;�'��-f.
<br /> • reasonable attorneys' fces und cntcring on thc Prc�perty tn mukc repuirs, Although i.cndcr mny takc uction undcr this paragraph r�•
<br /> , 7, Lcnder does not huve to do so.
<br /> , Any umounts di�bu�+cd by Lender under thi� purugraph 7 shull bccomc additionul drbt of Bonower secured by this _.
<br /> Security Instrument. Unless Bnrrower�nd I.cndcr ugrce to nther tcrms��f puymcnt,thcsc umounts shuU beur interest from the " '
<br /> dute of disbursement iit thc Note ratc und shall tx: psyubic, with interest, upon notice from I.cnder to Borrower requestiu� • � '' .
<br /> . . paYment. �, .
<br /> 8. Mort�aRe lnsurunce.If Lcnder reyuircd martgagc in�uranrc •r,u canJition af muking thc lour�secured by this Securiry
<br /> � . InstNment, Borrower shull pny thc premiums required to maiixain the rmmguge insurunce in rffect. If, for uny reason, the
<br /> . � mortgage insurancc covcrugc rcquired by Lrndcr lapscs ur ccu�c+to tx in cffcct. Bc�rrowcr+hull puy the premiums rcyuired to �
<br /> . ' obtain rovcrugc suhstuntially equivatcnt to the martga�!c insurunce prrvioutily in cl'fcct. ;u a ru�t�ub,tantiully equivalent to the
<br /> " mst to Fk�rrower of the mnrtgage insurance prcviou.ly in eifect. frc�m un ulternatc monguge insurer upproved by L.ender. If
<br /> wbstantiaily cyuivulent mcirtgu�c insuranrc r<��•cragc i s nut,rvuilahle. &�rrowcr�hull puy to I.cncicr cuch month a sum cqual to
<br /> � one•twclRh uf thc ycurly m��rtgugc intiuranrr premium hcing p�id b�� Horrowcr whrn the in.urnnrr covcrugc lapsed�r ce:�sed tn �
<br /> , , be in effect. I.ender will ucrept, use und rctain thr�c p.ryment.:u a I�i�� ro.cri�c in licu nf mongugr in.uranre. Lo.ti re+erve �
<br /> Form 3028 9/90 `
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