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<br /> 5. �GwtM or E"e+opeity Inawrance. Barrc�wer Fhal1 keep the improvcm�nts naw cxisting or het�after erectod on tl�o
<br /> _ Pr�pctty insure� agn3fist lasa by firc,hur,a��1s iriciudtxi within tlis term °extonded caverago" and nny oth�r haza�ds, Including
<br /> '� flcxKl9 ue(laadin�,fos.wi�ish l.endcr cec�uires insurancc.7'hSs insura��ecc sh�ll bc;maintuinc�in the amoun�9 unc�far tlt�perio�ls
<br /> that Lender requlrea.'Pi�a insurar�ec carricr prov�ding ti�e insurance sholl be chusen by Bon�wcr subJect ta Le:nder's approval
<br /> which�ti�ll not bc unro.�uonably w�thnold. If Barrawer failr to mpintaln coverat,e described atwve, Lenc[mr mny� at I.ender's
<br /> option,obtuin coverage ta protect I.c,�nder'e riphts Zn the Property in nccordance with parngrap�%.
<br /> All inxumnce policie.g and renewals sha!!be acceptable to Lender und shnii include a�tandard moctgege ciaecse. I.ender
<br />_ _ ___ _ ____ � rhnll havc thc dght to hold t�c policles nnd renewals.If Lender requiecs, �rmwer shall prorr�tly give ta Lender all receipta of �,____
<br /> paid prernlums artd renewai�ioticrs.(n tho event of loas.Barrower ahall glve pmmpt notioe to die insaranae carrier snd Lender.
<br /> Lender may n�lce praot of loss if not m�de promptly by�orrower.
<br /> --_ Unlcss Lender and Borrower.oft.�twlse a�ree ln writin$,insnrunce proccs:ds shall be appliad to restor�tion ar repair of the
<br /> Pro}xrty d�magqi.if thc restorntie�n or repalr is ecaaamically feASible and Lender's securtry is not lessenod. If the restoratjon�r
<br /> ___ _ repair is not eca�orri}Rn11y Fensible ar Lender's securIry would be tessened,the insuriuuc pmceeds shall be applied to the sums
<br />_ _ _ __ securad by thiV.Svnuvity•Instrument, whether or not then due. with any �xcess paid to Borrowe,r. If Borrower abandons the
<br /> Prapany;or doos nnt�unswar within 3Q duys a noticc from Lender thnt the insurence cerrler has offered to settla u clnim,then
<br /> , Lcadcr.�may oo!lect the insurnace proceeds. Lender may use tha p�oceeds to reputr or mstare the properry or to pay sums
<br />; secused�Sy�thiy Secvdty Instrument.whether or rtot then dues.The 30-sltiy pedod will begin when thc nottce is given.
<br />--° Ur�fcas [.endar and Borrower otherwi�e Agree !n writin�. any application of procee�s to principal shalt not extend ar
<br />==A — postpona th¢ dua�d;it¢�af the monthly puyrrtents refemed to in para�cnphs 1 end 2 or change the atnount af the paymants. If
<br /> -- undet paragraph�'1 thl�Property is acquic�ed by Lender. Borrower's right to any Insurance policles and praccxds resu(tiag from
<br /> - d�tr.�e tat��Ptogcrty prioc to tl�e acquisidon shall puss to Lettder w ihe extent af the sums secured by t6Ls Sec�trity Inspvment �
<br />-- in�u�t¢IY pdor•to tue asquisition.
<br />-- 6,f3cetc�►,��Pratservatina,Matntenaace�nd Prrotection of the Propea�ty; Borrower's Loan Appl[cation;I.easeholds.
<br /> Borrower sha10 bacu�r.establish,aad use the Property as Borrower's pdncipal residence wlthin sixty days after the execution of
<br /> this�Seeuritr Insteu.^^�tnc und shall contlnue to ocrupy the Property as Borrower's principstl residence fur at least one year after
<br /> •, th.�a data�of�c�ccupancy. unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld, or unless
<br /> exoenuat�tg�circumstances exist which are beyond Borrower's conurol. Borrower shall not destroy, dnrnage or impnir eho
<br /> -_ P'ro�p�•. atlow the Pcoperry to detedorate. or commlt waste on the Property. Borcower shall be in default if aay forfeiture
<br /> acdon or proc�ecttng.whether civil or criminal.is begun that in Lender's good faith jud�ment wuld result�in forfeiture of the
<br /> F'cn}xrty ar othenvise matedaUy impair the lien created by this Secur�ty Instcum�nt or Lender's securiry intemst. Horrnwer may
<br /> - cure�eh a default and r�einswte,as providod in paragraph i 8,by causing the actton or proceeding to be dismissed with a ruling
<br /> �. �. , that.iN LtndQr's gQOC! fei� sletersninatlon. grQrlsdQS !'orfeltare of the&.�rrow�r's fnterQSt 4n t!� Pro�sy or osber.matuia! .
<br /> � ` '1 impairment of tAe llen created by this Security Instrument or L.ender's security intemst. Borrower shall also be in default if
<br /> Borrower.during the lonn appliqtion process.gave materially false or inaccurate information or statementa to Lettder(pr fatled
<br /> to provide I.ender with any material information)in rnnnection with the laan evidena�d by the Note,incluc�ing,but not limited �
<br /> ,- , to.representations conceming Borrower's occupanry of the Property as a principal residence.If this Security Luuument is on a
<br /> ' :<;�;;,i � leasetald, Bornower shall comply wIth all the provisions of the lease. If Borrower acquires fee title to the Property. the
<br />_ leasehold and the fee title shall not merge unless Lender agrees to the cnerger in writin�.
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<br /> 7.ProtecUon of Lender's Rlshte in the Property.If Barrower fuils to perform the covenants and agreements contained in
<br /> this Securiry Instrument,or thete is n legal proceeding that may significandy affect I.ender's r�ghts in the Property (such os a
<br />__ procecding in bankcuptcy, probate. for condemnatlon or forfeiture or to enforce laws or regulations),then Lertder may do urtd
<br /> ,'� pay for whatever is necessary to pratcct the value of che Property nnd Lender's rishts in the Property. Lender's actions may __.
<br /> include paytng uny sums secured by u lien which has priority over this Securlty Instrument, nppearin� in wurt, paying -_
<br /> reasonabte attomeys'fe�.s and entering on the Property to m�lce repairs.Although Lender may take action under this paragraph �_�_
<br />- 7. Lender does not have to do so. F�-�_..
<br /> -=� Any aznounts disbursed by Lender urtder this pnrugraph 7 shall become additional debt of Borrower secu�dd by thia =_-
<br />; . Securiry Inetrument. 13nless Borrower und Lender agree to other terms of payment,these amounts shul!bear interest from the "�"'-
<br /> i'':c�`�"", date of disbursement at the Note rate and shall be paynble. with interest, upon notice from Lender to 9orrower requesting --
<br /> .::ii:.'';}:�'?� payment. _.�.
<br />�_ `��;�" 8.Mortgege In4u�rance. If Lender required mortgage insurance as a rondition of makin�the loan securod by Uus Security °�-r
<br /> ��.t.:.,.�:r, t="`:,
<br /> Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any rpson, the v�
<br /> • ������ � mort e insurance wve e uired b Lender Ia ses or ceases to be 3n effect, Borrower shall a the remiums '�==
<br />' `` �''-�.:; .' . SaB �S �I Y P P Y P required to ;,
<br /> x: ., obtnin covera�e substentially equivalent to the mortgage insurance previously ln effect,at a cast substantial ly equivAlent to the �r.;`;,
<br /> •+w�...�.�;�,•;. cost W Borrower of the niortgage fnsurnnce previously in effect, from un ultemate mortgage insurer approved by Lender. If '�:�'r'.
<br /> '* �=�-���•.�••;;' substantially equivalent mortgage insurnnce coveruge is not availuble. Borrower shall pay to Lender each month a sum equal to
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<br /> "`}•- •�•��: -r= one-twelflh of the yrariy mortgage insurance premium b�in�paid by Bomower when the insurance covernge lapsed or ceaseci to
<br /> .:,;�,.
<br />` " . " ' be in effect.Lender will accept.use nnd retain these payments os a luss reserve in lieu of mortgAge insurance. Loss reserve
<br />. r. :'�:...''i``• Form 3028 9/90
<br />.. � Page 3 ot 8
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