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<br /> :�r� 94- so��
<br /> -r=�:�_r.�,:�-:-:�w S. �Inxterd or Proper¢y Insur�tnte. Bamnwer shall kcep the improvemertts naw exisdng or hereafter erected on the
<br /> -_ _.�.�,��,� Praperty in.gurcd agninst toss by fire.hazards included�elthin the term "extendod caverage" und ar►y other hazards, including
<br /> --- tloads or flaading. far which Lender requires insumnce.71�is insut�ncc shall 6re maintained in tlte amounts and far the periodti
<br /> �Y!�'�� thut Lender requires. The insurnnce carrter praviding the lnsurnncc sh�ll be chassn by Borrower subject to Lender's approval
<br /> =--'�s'= which shall not be unmusonably wlthheld. If Bc�rtawer falls ta maintain covernge described above, Lander may. at Lender's
<br /> <��-��.;�;,�_ option,obtain coverage to pratect Lender's ri�hts in the Property in¢ccordance with paragrnph 7.
<br /> = :��'� All insurance policies and rencwals shalJ bc ac:ccptabtc to Lender and shall include a standard mortgage clause. L.ender � _
<br /> �r';." `�'4, shall huve the ri ht to hold the olicies and renewals.If Lender uires,Bormwer shell rom tl ive to Lender all recei ts of
<br /> = w:'"M-.• ` B P reQ P P Y 8 A
<br /> • ' � � paid premiums and renewal notices.In the event of loss,Borrower sh�ll give pwmpt notice to the insurance carrier end I.ender.
<br /> -���';_;=,�;`.�v;• iPnder may make proof of loss jf not made promptly by Borrower.
<br /> . . ."�'� Unless I.ender and Borrower otherwise agree in wrfting.insurance proceeds shult be applied to restoratIon or r�pair of the �_::
<br /> ' " . . Property damaged.if the restoration or repatr is economically feasible and Lender's security is not lessenod.If the restoration or ���
<br /> � repair is not economicaily feasible or Lender's security would bc lessened.the insurance pror.eeds shall be applted to the sums �`:
<br /> �,_
<br /> secured by this Security Instrument. whether or not then due, with any excess paid to Borrower. If Eorrower abandons the :-,.- ..
<br /> Property.or does rtot answer within 30 days a notice from Lender that the insmratzee carcier has offere�to settle a claizn, tt�en �'�'
<br /> I,ender may oollact tQee insurance�praceads. I.ender may use the prom�cis to npa�r or restora the Property or to �ay snms __
<br /> secured by this Securi¢y Instrument,whether or not then due. The 3Q1-day periosf�vitl begzn�ul4en Yhe notice is given. �_
<br /> ' Unless l.ertder �rtd Borrower otherwise agrce in writing, any appiicatimn of �sroc��to princlpat stiall not exYend or —
<br /> postporze the due date of the monthly payments referred to in paragraphs t a�i 2 �r chan�e the amoua�:of the payments. If
<br /> under paragraph 21 the Property is acquined by l.eader,Borrower's right to er�y insurance palicies and proc�is resutling from �"
<br /> damage to the Property prior to the acquisition sh�ll pass to Lender tu the extent of the sums secured by this Security Insttument °_'_°�=-
<br /> . immediately prior to the acquisition ~�
<br /> , ,; ' ,. , 6.Oocupancy,�resYrvation,Mainte�ance and Pratection of the Property;Borrower's Loan Application; Leaseholds. �'�
<br /> ,�_,.,,
<br /> �� Borrower shAll occupy,establish.and use the Property as Bonower's principd residence within sixty days after the excxutton of E�t�:``�
<br /> this Security Instrument and shall rnntinue to occupy the Property as Borrou•er's principal residence for at least one year after ���_
<br /> • the date of occupuncy,unless I.ender otherwise agrees in writing, which consent shall not be unreasonably withheld,or uriless `
<br /> �� . . extenuatin� circumstances exist which are beyond Borrower's control. Borcower shall not destroy,damage or impair the
<br /> Property,altow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture �t�-
<br /> action or procecding, whether civil or criminal, is begun that in Lender's good faith judgment could resuli in forfeiture of the �c
<br /> . � `� Pmpeny or otherwise maierially impair the lien created by this Security Instrument or Lender's security interest. Borrower may
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<br /> �n�•��-- cure such a defauit and reins[ace,a+pn�videxi in paragrapi� i e,by�au�ing ii�c ac:tiw►��pi��x�iing ta tx dism9ss�d uiif:a ruling
<br /> •`�.,
<br /> " that. in Lcnder's ood•faith determination, recludes forfeiture of the Borrower's interest in the Pro rt or other mnterial ��
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<br /> '����?' impairment of the lien created by this Security Instrument or I.ender's security interest. Borrower shall ulso be in defauit if �
<br /> „ �� Borrower,during the loan application process,gave materially fulse or inaccurate information or statemen�s to I.ender(or failed ��
<br /> „ . to provide Lender with any material infnrrnution)in connection with the loan evidenced by the Note, including,but not limited
<br /> .'�.;:�.,. to. representations concerning Borrower's cxcupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> ,;`�"'' ' leatiehold, Borrower shall comply with ull the provisions of the lease. If Borrower acquims fee title to the Property, the ,
<br /> ::.
<br /> • leasehold ttnd the fee title shnll not mergc unles�[.ender agrces to the mer�er in writing.
<br /> 7.Protection of l.ender's Rights in the Property.If Bnrrow�r fails to pertarm the covenants and agreements contained in 1;;�
<br /> this Security Instrument, or there is a legal procceding that muy xi�nificantly affect Lender's rights in the Property(such as a r
<br /> procceding in bankruptcy, probate, for condemnatinn or forfeiture or to enfarce laws or regulations), then Lemter may do and ��
<br /> ,� .� pay for whutever is necessary to protect the value of the Property and Lender's rights in the Property, Lender's actions may
<br /> '.::." _, '
<br /> include paying any sums secured by a lien which hae priority over this Security Instrument, appenring in court, paying
<br /> '���'t-,,.,, reasonable attomeys' fees und entering an the Pro�rty to make repair,. Althobngh L.ender may take action un:l�r this paragraph � •
<br /> , �.. 7,I.ender dces not havc ta do so.
<br /> Any amounts dnsbuned by Lender under this paragraph '. sfiell hzr��mr additional debt of Borrower secured by this
<br /> �•���� Security tnstrument. Unlex� Horro�tier und Lender agrce to other terms uf paynxnt, these umounts shall bear interest from the
<br /> �'��� � date of disbursement at the Note ratc and shall be payable, with intcrest.upon notice from L,ender to Borrower requesting
<br /> payment.
<br /> „ . 8. Murtgage Insurance.if l.ender requirecl mortgage insurance a�a condition of m:iking the loan secured by this Security
<br /> �� In�trument. Borcower shall pay the premiums requirecf to maintain ttie mon�age insurance in effect. lt', for any reason, the
<br /> . .'��•{. mortgage insurance coverage required by Lendcr lapser or ceaus to he in etfert. &�rn�wer shall pay the premiums required to '
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<br /> -y�,4,�' ' obtain roverage substantially equivtilent to the mortgage in�uc►nre previously in effect, at a co.t suhstantially equivalrrtc to ihe
<br /> . cost to Borrower of the mortgage i��urance previou.ly in effect. from an alternate mortgage insurer ap�proved by i,ender. If
<br /> , substantially eyuivale�t mortgage insurance ruverugr is not a�•ailablr. B��rroaer�hall pay to [.ender rach ;r�:cmth a sum equal to
<br /> . •.�� une-twelfth of the ye:arl}monga=e insurnrne premium being paid b� &�rrrn�er uhen the inwrancc covera�e lapsed or ceased to
<br /> . '.,•:('�-,:.` he in effzct. Lender will accept, uu xnd rctain thcsc paymcnt.a. a la„ rrscn c in licu o( rn��rtgagc insurance. Loss reserve �
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<br /> Form 5028 8/90 I
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