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<br /> 8. Nazard or Property Insurance. Borrower shall keep the improvements no�v e st ng o teci on the
<br /> Property insured ageiast loss by Bre. hazards included within the term "extendai cov�rege"and any ather hazardA,lncluding
<br /> Roods or tlaadtng.for which Lender rcyuires insurance.This insurunce shnll be mulntained �n the amounts and for the pedods
<br /> that I.ender cequ3res.The insuranee e.urrier provlding the insurunce shall be eho.sen by Borcower subjeet to I.ender's approval
<br /> which shall nat be unreasanabiy withhcld. If Borrower fails to m�intain coverage descdbed above, I.ender muy. at Lender's
<br /> _--.,-� optian,obt�ln coverage t�protect Lender's rights i�the Property in accordance with pa�agroph 7. � __
<br /> All insurance polfcics and renewals shali be acceptable to Lender and shall include a standard mortgage clause. [.ender
<br /> shall have the right to hold the palicies and renewals.If I.ender requires,eorrower shall pramptly gtve to I.cnder aii receipts of
<br /> puid premiums and renewal notices.In the event of loss,Bornower shall give prompt notice to the Insurance carrler ar�d Lender.
<br /> '�` Lxnder may make prcaf of toss if not made promptly by Borro�ver.
<br /> Unless Lender and Borrowor otherwise agree in writing,insurance pmceeds shall be applled to restoration or repair of the
<br /> �� Praperty drsmaged,if the r�taratian ar repair is economically feasjble and Lender's secudry is not lessened.If the restoratton or __
<br /> repair is not economically feasible or Lender's secudty would be lessened.the insurance prooeeds shall be applied to the sums
<br /> ;�� sccarcd hy this Secudty Insuument. whether or not then due. with any excess paid to Borrower. If Bonower abandons the ._._._—r
<br /> Property, or does not answer wIthin 30 days a notice from I.ender that the insurance carrler has offered to settle a claim, then -
<br />_� � Lender may collest the insurance proceeds. I.ender may use thc pror,�ds to mpair ar restore thc �raperty or to pay sums _.
<br /> � secured by thi�s S�,.curlry Instrument,whether or not then duc.The 30-day pedod witl be�in when the notice is givon.
<br /> Uniess Lender end Borrower otherwisc agree in writing, any applicat[on of proceecis to principal shall not extend or
<br /> •� ,�;�,�,,...,i�#�.,: pastponc thc duc date of the monthly payments referc�ed to in paragraphs i and 2 or change the amount of the payments. If - -
<br /> � r•���.}:�,;, � under parugraph 21 the Property is acquireci by Lender,Borrower's dght to eny lnsurance policies and praceeds resulting from
<br /> ���r� �r""� damage to the Property prior to the acquiaitton shall pass to L.ender to the extent of the sums saured by this Security Instrument —
<br /> ° . immediately prior to the acquisltion. `-'--
<br /> '�f���=��' • 6.Occupancy,Preservation,Matntenance and ProteMion af the Property= Borrower'R Loan Application; I.easseholdv.
<br /> �- Qorrower shall c�ccupy,establish,and use tbe Property as Bonower's principal residence within sixty days after the execution of ���
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<br /> ��.�����. ' '• •� this Securlty Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after =-_
<br /> . � . � the date of accupancy,unless i.ender otherwise agrces in writin�,which cansent shall not be unreasonably wlthheld,or unless �_���6:
<br /> � � extenuating circumstances exist which are beyand Borrower'ti control. Borrawer shall not destroy, damage or impair the �-�-
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<br /> Property, ullow the Property to deterioratc, or n�mmit waste on the Property.Borrowcr shall be in default if any forfeiture • ,�-
<br /> � �� action or roceedin ,whether civil or criminui. fs bc un thut in L.cndcr's ood faith'ud ment could resuh in forfeiture of the +�r'
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<br /> - � � -- _ - Properiy ar olAens i:.t Mster?slly impair the lien creates!by this Srcurlty Instrumeni or Lender's security intcrest.&�rmwPr mAy � �
<br /> cure such a defautt and reinstate.As Frovided in paragraph 18,by causing thc action or proceeding to be dismissed with u ruling � ��`
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<br /> � • that, in Lender's goad i'uith determination, prectudes farfeiturc of thc Barro�•cr's interest in the Property ar other materictt " ��:� '�
<br /> impaitment of the iien creatcd by thls Securiry Instrument or Lender's security intcrest, Borrowcr shall also be in default if ;�
<br /> , Bonower,duriag the loan applicatian process,gave matcrially false or inaccurnte informatian ar statements to L.ender(�r fuile�i •
<br /> to provide[.ender with any materiul informution)in c�nnection wlth the loun evidenced by the N��ta, includin�.but not limited
<br /> ` �� to,repmsentutions rnneerning Borrower's occupancy of the Property uti u prinejpat res[denee. If this Security Instrumen�is on a
<br /> - . ' leasehold, Borrower shull comply with ull the prc►visi��m �►f the Ieuee. If Borrciwer ucquircs fee title to the Praperty, the
<br /> ' IcASChold and thc fcc titic+hull n��t mcrgc unletis I.cndrr ugrecs to thc mcrgcr in writing.
<br /> � . 7.Protection ot l.endcr's RiRhtv ln the Property.lf Bnrro�vcr i'uil�t��perform thc cuvenuntti und ugrexmcnts cnntuined in
<br /> . ° ihi+Security Instrumcnt. or thcrc i�u Icgul pnx�cding that nwy+i�nitirantly uffcct I.c:ndcr'.rightx in thc Property(tiuch us u .
<br /> � . • pnxeeding in bunkruptcy,pr��butc,fi,r condemnation ur fi�rf'citurc or to enti�rce law��ir rr�uladons), then Lcnder may do und �
<br /> f � , pay fcir whutcvcr is nccc+wry to protect thc vnlur of thc Proprny und IAndcr', right�in thc Property. Lcndcr'� uctions may
<br /> . . . includc paying uny sums scrured by a licn whirh h�. priurity uvrr thi. S�rurity In+trumcnt. �ppcuring in caurt, paying
<br />, . _. . rcacnniihle attnrncyc'fce•c nnd cntcring on the Pn+pcny to mukc repai�. Although l.cnder muy tskc artion under thi�p:;mpn+ph
<br /> ' 7, l.ender does not huve to do so.
<br /> Any amountx disbursed by l.ender under thiti paragraph 7 tiha�� tkcome sdJitiunal debt nf Borccn�•er serurcd by thiti
<br /> • Secu�ity lr►strument. Uolc�s &mower and I.cndcr agrce tn��thcr terni.uf paynxnt.�heu urnuunt��hs�ll be•rr i�terctit from thc "
<br /> datc of disbuncmcnt at thc Notc ratc and �hull bc puyubir, with intcre+t, u�n noticc frum Lendcr to Bnrcowcr rcyucsting ' ',
<br /> ' . payment.
<br /> . S.Mortga�e Ituurance.If i.cndcr rryuir�-d mon�age insu�anre u+a conditiun of rnaking thr l��an�ccurccl by thi.Sexurity
<br /> '' „ Intitrument, Borrowcr�hall pay thc pmmium, myuircd tu maintain thc mortF•rgc in.uranc� in cffitit. If, for any rcasan, thc
<br /> mortgagc imuruncc �rwcrsgr reyuircd hy LcnJcr Irp�eti or rca.cs tu hc in cffrct, &ttrc���cr tihalt pay thc prcmium,rcyuircci to
<br /> �• ., , obtain covcragc�nbswntially cyuivalrnt to thc m�mga�e imuranrc prcviuu+ly in rt7�tit, at u r��+t wb.tanttully equi��alrnt to thc
<br /> � • cost to Borrowe�of the mimgagc imuranre previou�ly in effert, t�rum un alt�rnute niortg:ige imurcr upprovcd by Lender. If
<br /> • � substantially cyuivatcnt mortga�!e inruranrr ro��rragc i,n��t availahlc, &�rn►wcr�hall pay t�� I.cndrr rarh month� tium rqual to
<br /> one-twelfth nf the yearly mungage imurunce premium bcing paid by Burmwer ��hcn thc imuranrr r��vrrage lap�eci��r rea�ed to `
<br /> � � . bc in effirt.L.ender will arcept, u+c and retain thcu paymcnt+u� a lo,. reun•r in licu uf m��rtgage in.uranrr. Lo�s re,crve i
<br /> Form 3028 9/90 I
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