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<br /> --�.c}��� S. H�zacd or ProperRy Iasurunce. Borrower Rhall keep the improvem�nta now existZn"�j or ercuf4er erc�ted on the
<br /> -.-����;;;,�T" , Property insured�gainst losa by 8re. hazards includai within the tcrm "extcrtdesl cavcrAge" ru�d nny attier hoaturds. inclucting
<br /> -,:•.-, �,. floods ar flaoding, for whfch Lender requires insurance. This insurunce shall be maintainetl in the amounts uad for trti�e�inds
<br /> 'ri'°'��°"•�f�};���• that l..ender requires.The insurunce carder provlding the insura��ce shall be chosen by Borrower sntject to l.endcr's appruvul
<br /> `d ;.°'' .` "°yj"' which shnll nni be unreasonably witi�hc(d. If Barrawer fails to mnintain coverage descrlbed above, Lender muy,nt I.ertdcr'F
<br /> � optlon.obtuin coverage to protect[.ender's rights in the Propeny in nccordance with pnra�raph 7.
<br /> 4,�;�:,;,�.;::''� All insuranca palicles and renewals shall be ucceptable to Lertder and shall inelude n standard martguge cluu�. l.ender
<br /> � shall huve the ri�ht to hold the policies and renewals.If Lender r�equircs.Bormwer shull promptly give to Lender�11 re�eipiR of
<br /> • .. � paid premiums nnd renewal notioes.in the event of lass.Burn►�ve�sbail give prouipt uotice tu the insura�tce currier and L�ender. �
<br /> „ • �'`� Lender mAy make proof of loss if not made promptly by Bonower. � __
<br /> ,. , , ' Unless Lender and Borrower othenvise agrce ir+writing.insutance praoeeds shall be applied to restomtion or repait of thc
<br /> �� Property damase�i,if the restomtion or npa�r is economically feasible and I..endet's icecurity Is not lsssened.If the restoratinn or
<br /> ' repair is nat economically feasible or Lender's securiry would bs lessened, the insurancr proceeds sha11 be applied to the sams
<br /> , ' ��• � secured by thIs Security Instn►�nent. whether or rtot then due, wlth any excess paid to Borrower. [f Bomower abandons the =
<br /> • , • Property.or dacs not answer within 30 days a notice from Lender that ti�e Insurance carrier has oFfe�ad to settie a claim. then c-'
<br /> � I.ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property ar to pay sums
<br /> secuned by this Securiry Iruwment,whether or not then due. The 30-dny period will begi�when the nottre is given. _
<br /> , Unless [.endec aad 13mrro�*+rer atiienvise agree in writing, any application of prooaeds to priacigal shall not extead or = -
<br /> postpone the due clate og the rt�c�nth�y payments referred to in paragraphs t and 2 or cG�eange e[te aunouat of the Qa�reu.e�ncs. If -�--
<br /> � • under para�raph 21 ehe 1Praperty is ar,quired by Lender, Borrower's right to any insutaac+�poiicies arnd�anoceeds r�es�[cit�f[um
<br /> � • damege to the Propeazy prior to the acquisition st�al�pass to II.ertder to the exeer�t of tQe�surns secured by¢C�ic Security Insttument �
<br /> : • imcnediately prior to the acquisition �
<br /> ,°i'::>�:': ` 64 QA�upancy, Pnservation.Affsinteaeaunre arua!Pe�olecsno�n�f tQ�e Fim�p�a�¢c;Borrma�•er's Loan Applicatioa;Leaseholds. �
<br /> '�"���``� Borrca�rer shall occupy,establish,an�use the �ropexty as Borrow-er's principal residence within siaty days after the exetution of ��
<br /> � • this Security Instrument and shalt rnntinue ta occu�y the Property as Borro�+�et s principal residence for at le�st one year after �
<br /> �' � the date of occupancy,unless Lender othencnse agrces in writing.which consent shall not be unreasonably withheld. or unless �.
<br /> . . extenuating ci�cumstances exist which are beponJ Bornower's control. Borrower shall not destroy, damage or impair the �-
<br /> •�';::�.;,� Properiy, allow the Property to deteriorate, or commit waste on the Propetty. Borro�ver xhall be in default if any fodeiture �.
<br /> ',;;;��� action or proceeding, whether civil or criminal,is begun that in I.ender's gaod faith jud�ment could result in forfeitum of the _ _
<br /> `��'S, Propeny or othenvise materially impair the lien created by this Security Instrument or Lender's security interest.Bomower may � "
<br /> • cure such a default�ed reinstate, as provided in paragraph I8,by causing the actian or proceeding to be dismissed �rith a ntling �.
<br /> � that, in I.ender's gai�cf�faith determination, precludes forfeiture of the Borarnver's interest in the Property or other material
<br /> �` •':!+"�- imp�isme*+Y�f che lien created by this Security Instrument or Lender's securiry interest. Borrower shall also be in default if
<br /> �:•;��'� " Bormwer,during the loan application process,gave materially 6��i>e 4�r inaccurate information ar statements to Lender�or failod F-��-
<br /> ,:..:s�.
<br /> to provide Lender with any material informationl in ronnection�ti ish the laan evidenced h� thr Note,ineluding,but not limited E��:-
<br /> to, representations concerning Borrower's occupanc�•of the Property as a principa!residence. 1f tftis Secu�ity Insttument is on a �i:'-
<br /> leaschold, Borrowcr shall comply with all the pm�•isions of the lease. If Bnrrower acquires fee title to the Property, the ,�r;;
<br /> ' Icasehold and thc fec title shall not mcrge unless Lcnder agrecs to the merger in writing.
<br /> � ` � 7.Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agc�ments contaitted in
<br /> ��`�,� this Securit Instrument. ��r there i+a le al r�xee�iin Uiat ma tii nificxntl aFfect Lender's ri hts in the Pro such as a ,�
<br /> Y � P F Y � S Y b Pet'�Y�
<br /> proceeding in bankruptcy,probate.for condemnation or fiirf'eiture or to enforce luws or regulatians),then I.ender may do and ��:
<br /> . pxy for whatever is nece,s;�r�}•to protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> • • include pay�ing an�� sum� secureci by a tien �vhich has priority over this Security Instrument, appearing in rnurt, paying
<br /> '� � ' reaxonable attorne s fees and cntcrin+on thc Pro rt to makc rc airs. Althou h Lender ma take action under this h
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<br /> � 7, L.ender does not have tu do�o.
<br /> Any amount� di.bursecl by Lender under thi. paragraph 7 shall hecume udditional debt of Bc�rrower secured by this
<br /> Security instrument. Unlc�ti Borrower and Lender agrcc to othcr urm�uf payment, thece amounts tihall hcar interest from the
<br /> date of disbursenient at thc Notc ratc and �hall be payable, with interetit, upcm noticc fr��m Lender to Borrower rcquesting
<br /> • payment.
<br /> � 8.l�iorigage Insuranee.If Lcndcr reyui re�l m��ngag�in.urance a.a c��nJition<,f m:�king the loan tiecured by this Security
<br /> • '•�"r In�trument, Borrower shall pa�• the premiumn rcyuirctii to maintain the mi�rtga�e intiuranrc in rffert. If, for any reason, the
<br /> - mi�rtgage intiursncr r,��erxge rcyuirctil h�• Lend�r lap>c.ur rra.c�tu hr in rffert. Borrower+hall pay the premiums required to
<br /> obtain c<�verage sub,t;�ntially eyui��alrnt tc� the m��n�agc in.uranre prc�iuu+l�� in rfirrt,at a ru.t �ub.tantially equicalent to the
<br /> wst to Borrowcr of the nwrtga�e inwranre pre�•iuu+l�• in rt7crt. frum an ah�rnatr mnngage in,urer appn���ed by Lender. If .,
<br /> suhstantially eyui�•alrnt►ni�rtgage mwranrc cu�crage i>n��t a�ail:�hlc. &�rn�wer.hall pa� tn Lender each month a sum equal ta
<br /> onz-t��elith of the ycarly mortgagr in�uranre�rcmium hring }�.iid h� Barruwrr���hrn the in.urance cu�•erage iapseci or ceased to �
<br /> be in elf�ct.Lender will arcrpt, u�e and retair.ib�,c•pa�mcn:.a� a k�.. rc.enr in firu ��f' nwrtgage insuranre. l.oss reserve
<br /> Foran 3D28 9I90
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