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<br /> S. Hnzard or i'roperty imzu�nce. Borrower shuil keep the Improvements naw �xistjn��herea the
<br /> �roperty lnsur�d�vinst loss by flre.hc�z.�►rds ineluded wiU�in the term"extended cove�z►be° �nd any other hnz4�rds,ineluding
<br /> - �`�—�:'� flo�ws or Iloocling,far which I.ender requires insuronce.'Chis insurnnu�sltnll t�c rmaintaii�al in tl�c ninounts nnd far thc��crl�zcls • --
<br /> "��-�`°-"° that I.ender rcqutres.Tite insur�ncc currier provlding the lnsurance++hail l�chasen by Burrower hubjert to L.ender'�npprovnl
<br /> which shull �ot be unxessottably wlthhetd. If Bonower fails to maintnin covcrnge dcscribcd nbova. Lcnder mny. nt I.cndsr'x
<br /> option,obtnin coverage to protect Lertder's r�ghts in thc Praperty tn nccordance wlth paragmph ?.
<br /> All insuransc policies snd renewals shnll be acceptubtc to i.ender and shnll include u standard martgagc clause. I.cndcr
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<br /> sh�ll have the right to hold the pol�cics and renewals. if Lendcr requires,Borrower shall promptly givcs t�I.cnder u11 rcccipts of
<br /> paid premiums�u�renewul nocices. In the event of loss,Ba�rrowcr shuit givc prompt notice to the insurance carrier und Lender. `
<br /> -- -- I.cndcr mny make proof oF loss if not made promptly by Borrower.
<br /> ;` � Unless Lander nnd Borrower otherwise agree in wdting,insurnnce proceeds shall bo upplie�to restoration or repair of the
<br /> Property damaged,lf the restoration or repair is econamlcally feasible and L.ender's securfty is rat lessened. If the restorutlon or
<br /> - --- rrpuir is noc economically feasible or Lender's secudty�vould be lessened.the insumrtce proceeds ahnll be applied to the Fum9
<br /> - secured by thfs Secudry Instrument. whether or crot then due, with any excess paid to Bonrower. If Botrower abandons the
<br /> �. !'ruperty.or does not answer within 30 days a aouce from I.ender that the insumnce carrler has offered to settle a cluim,then �
<br />;�; � Lender may wllect the insurance proceeds. Lender may use the procee�s to repatr or restore the Propeity or to puy sums
<br /> � secured by this Secudty Insuument. whether or not then due.The 30-dny period will begin when the nodce Is glven.
<br /> � U�iless Lender end liorrower otherwise agree in writing. any application of proceeds to prirtcipal ahall not extend or
<br /> postpane the due dete of the montlily payments referr�to in pura�raphs 1 and 2 or change the amount of the puymen�ti. If
<br />_ � �r parngraph 21 tbe Property ls acquired by Lender.Borrower's rlght to any insivance policies and proceeds resulting from
<br /> �2r•� va to the Property prior to the acquisitton shall pass to Lender to the extent of ths sums secured by this Secudty lnstrument
<br /> { iu�.�e¢5;r�ly Fvlor to the acquisition. __
<br /> � �.Op��ecy,Preservation,Matntenance aad Protection of the Property; Barrawer's Loan Appifeatton; Leuseholds.
<br />. t3�rrower shall occupy. esL-�7ish,and use tlse Property as Borrower's princi�al residence wIthin sixty days after the execution of �...
<br />__ c`ti�s Securicy Instrument ar.d shall condnue to ocxupy the Property as Bonower's principal residence for ut least one year Aftet
<br /> ' the dute of occupancy. unless Lender other�vise agrees in writing,which cnuaent shall not be unreasc►nably withheld,or unless ==---
<br /> oxtenuating cinumstances exist whIch arr beyond Borrower's control. Borrower shall nat desvoy. dumsge or impair the
<br /> Property, aflow the Property to deteriara:e, ar commit waste on the Property.Botrower shall he in default Pf ttny forfeiture
<br /> action or proceeding, whetliea civil or criminal,is begun that in Lender's goo�faith judgment could msult in forfeiture of the =
<br /> Property or atherwise materially impaIr the lien created by this 5ecudty Instrument or I.ender's security interest.Borrower may -
<br /> cure such a default and reinstate,as provided in paragraph I 8.by causing the action or proceeding to be diamissed wieh a mling --
<br /> � .•---. that. in [.er3der•s�ood faith detertninetion, precludes forfeiture of the Borrower's interest in the Property or other mateari�l - :
<br /> impairment of the lien created by this Security Instrument or I.ender's security interest. Borrower shnll also be in deFault eY
<br /> ' Botrciwer,during the loan av�olication process.guve mater�ally false or inaccurate infurmation or statements to Lencler(or faiied
<br /> ` ta provide L.ender with any material information)in cannecuun with the loan evidenced by the Note.including.but not limited `' -
<br />- to,tepresen'��tions wncerrung�omower's occupancy of the Prope�ty as e principai reaidence.If thls Security Insuument is�n a _ "�-
<br /> �easeho!a,i�orrower shall comply with alt the proviaions of the lease. If Borrower acquires fee title to the Property, the ,
<br /> tease,hold ar�thc fee title shali not merge nnless Lender agrees to the merger in writin�.
<br />_ 7.ProteMtoa ot Lander's Rigdts in the Property.If Borrower fails to perform the covenants end a�reemenu conts�ined in �.,.
<br /> t4iis 3ecuriry Instniment.or there is a legal proceeding that muy s9gniftcantly affect Lender's rights in the Property(such as a �`� -
<br /> ��f��.
<br /> - � procceding in bankruptcy, probate. for condemnation or forfeiture or to enforcc laws or reguladons), then L.ender may do and E��r-
<br /> K pay for whatever is necess�y to protect the value of the Property and Lender's rights in the Property. Lender's uctions may ��c�
<br /> P Y � Y Y P � �3' Y PP� 8 P Y B �'y,-
<br /> irtciude a in an sums secured b a IIen which has nori over this Securit Instrument, a rin jn court, a in i,_
<br /> reasonable uttorneys'fee,v and entering on the Property to make repairs.Although L.ender may take action under this puragraph 'r._
<br /> 7,Lender does not have to da so. �```' .�
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<br /> .S' Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this - -
<br />:f . Socurity Instrument.Unless Borrower and Lender agree to other ternu of paymcnt,these amowus shall bear interest from the =�!'".
<br /> date of dtsbuxsement at the Note rate and shall be payable, with interest. upon notice from L.ender to Borcower requcsting -�F`�
<br /> payment.
<br /> 8.Mortgege Imvronce.If Jxnder requlmd mortgage insurance us a co,idition of makIng the loan secured by this Security �'�
<br /> � Instrument, Borrower shalt pay the premiums required to maintain die moctgage insurance in effect. If. for any reASOn, [he �i�z- :
<br />- mortga$e Insurance coverage required by Lender iapses or ceases to be in effect,Borrower shal!pay the premiums requirad to �'
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect,at u cost substantially equivalent to Ltte
<br /> cost to Rot�ower of the mortgage insurance prcviously in effect, from an altemsite mortguge insurer upproved by Lender. If
<br /> sebstandally e�uivalent mortgage insurance coverage is not nvailable, Borrower sha11 pay to L,znder each month a sum equul to
<br /> one-twelfth of the ycarly mortgage inaurance premium being paid by Borrower when the insurance covernge lapsed or ceasod to `
<br /> be in effect. Lender will accept. use aad retain these paymerets as a loss r+eserve in tieu of mortguge insurance. Loss rescrve ��
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<br /> • Form 3028 8/90 �1
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