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<br /> �, H��rd ar Prn�xrty tnwrwnct. 8orr�wer shall kup iltic impmvemrnta now exicting.or hereat3ct,�re�1eA'�on d�s ,
<br /> — Praperty huured ag�lust luss by (irc. h�cards i�zctudcd whhfn tl�c tr.n�;"l'XZ�II�.CYI C(?YCiQgC" ;.rui:�n�� oihtr hezards. incluiiing
<br /> Qaods or floading� fur whirh l.r��icr reyuir.,s insurunca. Tiiic lnsuranca shutl be tnaintafned in lh�amaunts and for the periada
<br /> t►u�t [.aKkc re�uit�es. '(1te inauru�ce carrkr provlding the.lnxu�na�Il be chv�en by&�rrawer subJvct ta I.ender's�pprovsl
<br /> _ which ahrll rat b�nnreasanrbly�withheld. Ii Borru�wer fiils to�tntailt cnverage deacribed�bove, Lender r�y,�t Lxnder'�
<br /> optian,a6uln ooven�e ta protoct Lendee'��i�hts in the Praperty in�cooidanoe with�raph?.
<br /> �______._ _,_„ AU insutanoo W�icie9 and renewals stiull bo acce�table to I.ender snd alull inelude a stand�rd npong+��e cl�uee. Lo+�d�er
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<br /> �li twvc ihe riBht w hold the policio�and renew�ta.te i.cnder roquires.bnr�Yrwe�'b�if1l}{)i�u�►tiY B�VU tu�.c.r;4i�r ali r•.c:.�?��
<br /> pu{d prcmtums�u►d renew�l nati�.In thB event af loss.Aorrowar ahRil gtvo prompt notioe to fl�e insuru�co c�rrier and L,a�de�'� . ,
<br /> [,ender may make pmof uf Inss if nnt male promptly by Botrower. ��
<br /> Untess Lender an�Borrowcr cHherwl�agreo in writing.insurautco proca�s shall be applied to rcswr�►ti�n or rep�ir of the
<br /> Property d�unaged.if the rest4ratian or rcpair is economisally feasible rand L.ender's Fecurity la not lessenod•If the reRw►�tton or .'
<br /> repair is not aonomtrafly feasible ar Lender's�securtry would be lessened.the insurancx pmceeda shall lxs appttat to ths surtu
<br /> socutal by this Sea�r�ty.instrunxnt. whether ar not tben due.with any oaass puid to Borrower. If Bas�N�r abar�dons the
<br /> Pro;xrty.or does not answ�er wlthin 30 days a notice fmm Lender that tha insuraac�4 carrier has affemd to settlC e claim,,sben
<br /> [xndE� may collect c�e insur�nce prace�s• Lender may use tha proceeds ta rcpair or nestc►re the Froperty or to pay tswns.,
<br /> sxurod be chis Sec;urity Instnamemt,whtther or not thon dua.Tho 30�d�y porlod w3U�begin whsn the notice,iS�iven. �
<br /> Unless Lender und Bomower otherwise agrm im wdt�ng, any appiicatian�of procxeds to prtr►ciPa�;'a}�l! not exund.or
<br /> postpone the due dato of the m�nthly paymente referrod to in paragraphs 1 ar�d 2 or rhange the amonrit,��,the pxyment�.• If
<br /> �_- . _ _. undtr paregraph 21 the AmPerty is acquired by I.cnder. Borrawcr's right to any insurance ppi�c.i�and Procxds resul�t[t�g,SiAm -
<br /> damage to the Property prior to the acquisitIon shnll pass to I.ender W the extent of the sums sectued by this Setudty�1?l�tr�tq�t
<br /> immediately pdor to the ncquisttion. � '
<br /> 6.Oavpmcy,PreserYation,Maintenance and Protectioa ot We Pcoperty;Borruwer's Iaaa App�iditdon;I.euveholds-
<br /> Hormwer shctl!occupy,establish.and use the Pmperty as Horrower's pdncipal resjdence within sixty days�r the executlon af
<br /> - this 5ecudty Instrucrtent and shaQ continue to occupy the Pruperty as Borrower's principa! rasidence for at least one..ysflr�Rer
<br /> the date of occupancy.uniess Lender atherwtse agrees�n wrtdng.which consent shall not be�uqreasonabl�withhdd��r;uniesa
<br /> extenuuting circumstanc�w eaist wh(ch nre beyond Borrower's control. 8onower shali not destroy, datnage or impatr ti�a
<br /> Property,allow the Property to deteriorate.or commit waste on ibe Property. IBarrower shall be in defautt if any forfeituro
<br /> action or prcxeeding. whether civil or crimin�l. is begun thsu in Lender's goad faith judgms�t could result•amforfeitum of tho
<br /> — Property or otherw(se materially impair the Iten created by this Security Instniment ar I.ender's security intsrsst.&►rrower may
<br /> -- ���tw c�u�h q defauit and reinstate.as pmvlded In paragraPh 18,by causing the action or proceeding to be dismissed with'a rulin$
<br /> — that. in E+ender's good'feith determination, precludes forfeitun: of the Borrower's interest in the Propetty ar nthtr.pwterisi
<br />- impairment of th�lien created by thjs Secudty Instrument or Lender's secudty intemst. Borrnwer shall'�also be in de,fault if
<br />- — 9arrower,dudng the toan applIcntion proc�ss.gave muterially false or inaccurnte informution at staterncnts to Lender 40}'failed -
<br /> �� to pmvide Lcnder with any material informndon)in connection with the loan evidenced by the Note,inciuding�6ui nat limited _
<br />- to. representadons conrerning Borrower's occupancy of the Property as u princlpal r�idence.tf this Sec�riry Insuument�is on a
<br /> leasehold, Borrower shall comply with all the pmvisions of the lease. If Borrower acqnlres fee tide to the Property►, tho
<br /> leasehold and the fee t�Uo sttall�not rtterge unless Lender agrces to the merger in wdting.
<br /> - 7.Protatton oi I.en�4e�'s Rtghts in the Prop�ty.if Horrower faits to perform the covenants and agreements cantaine�in
<br /> this Sacurity Instrument.or there ia a lesal proceeding that may significantly affect Lender's rights in the Property (such as a
<br /> procceding In bankruptcy.prabate.for condemnatlon ar forfcituta or ro enforce laws or regulations).then L.ender may do end
<br />_ pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions maY
<br /> include paying nny Fums secured by a llen which has priodty over thls Security Instcument. app��ring in court. paying
<br /> reasonable attomeys'fees and enter3ng on the Propeity to make repairs.Althou$h L.ender muy take acdon under this paragraph
<br /> .� �.Lender does not have to do so.
<br />;� Any amounts disbussed by Ixnder under this paragraph 7 shall become additionat debt of Bormwer sec�red by this
<br /> - Security Insuument. Unless Borrower and Lender agree to other terms of payment.these acnounts shall bear interest from the
<br />� date of disbursement at the Note rate and shall be payable, with tnterest, upon notice from Lender to Borrower request�n�
<br /> payment.
<br /> ��� 8.Mortgege Insurunce.If I.ender required mortgage insurance as a rnndition of making the loan securad by this Security
<br /> "' r�� lnswment. Bornower shall pay the pmmiums required to maintuin the mortgage insurance in effect. If, for any reason, the _
<br /> ��," mortgage insurance coveruge required by Lender lapses or ceases to be in effect.Borrower shall pay the premiums requ�red to
<br /> obtain rnverage substantially equivaient to the mortgage insurance previously in effect,at a oost substantialiy equivalent to the
<br /> — -- cost to Borrower of the mortgage Insurance previnusly in effect, from un altemate mortguge insurer cipproved by Lender. if
<br /> substantially equivalent mortgage insurance coverage is not nvailable.Borcower shall pay to Lender euch month a sum equal to
<br /> •'ht�� one-twelfth of the yearly mortgage insurance premium bein�paid by Borrower when the insurance rnverage lapsed or ceased to
<br /> f�:,
<br /> be in eKect.Lender wtll accept.use and retain these payments as a loss resetve in lieu of mortgage insurance. Loss reserve
<br /> Fortn 3028 9/90 -
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