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<br /> S. Hts�rd or Propaty ineu�nce. Hornowar sbwll kap thc improvemente now ex�'si�ng or t�fter erocted an t!{b ..
<br /> Property insuretl a�ainst lass by fi�e,httz,7rds inclucie�!�vithin dtc tccm "extendcd a►vcrrge" and a»y athcr h�►zalds. inc;ludin�
<br /> Qacuis or�lo��ding,for which Lendcr requircv lnsuraixe.`This Ir�sur��w,t shafl 6e n�aijuuined in thc amonnt,wxl fur tt�o{►etiab�
<br /> ihat Lender r�quires. The insurunoc c�urler grovlding th�insuranae shall f�chosen by Rarrowcr subJoct ta Lt�uder's a}��rnv�l
<br /> which shell nat de unrcs�sontbly witfihetd. IY Aorrower fails ta maint�n coverago descdbad afwve, I.end�r rtwy:at l.ontler'�s
<br /> option.abtain coverxg�to profect ixnder's dghtv in the Pmperty in accor�u�ce wlth puagruph 7.
<br /> Ail insuronce policicw end nnewala bhallt be aooeptable ta I.enda und shall includa�►sttcxt�t�d mortg�e cl�uu. Lende�'
<br /> shatl h�ve thc dght to hold thc policfs4 artd rerte�:rnl�.if ixntir.r requires.Anrmwer Rtudl promptly gtv�to i.etrdet'aQ receipts of
<br /> paid pmmiums end renewal ndtlocs. in the cvent of loss.�orrawer shsll give prompt natice ca the lnsur�c�rcier and L�endor.
<br /> Lendcr may makc�raof�uf loss if not made pmmptly by[iorrawer. '
<br /> Untesa Lender and Horrav,+cr othenvise ag�Ye In wdting.lnsuranac proceods shall be applied to restoratian or rep�ic of pu
<br /> Pruperty damaged,iY the mstaaati�n or repair is economia+lly feasible sru!l:rrxler's necurlty iR not les�.If tho restoration ur
<br /> repair is not economicully fea.s�ble or I.ender's sccudty wouid ba l�.ssencd,the insumncc procads shall be epplicd to the snnu
<br /> secured by this Sea�dry Instrumeat.wheiher or not then due. with any excess paid to Borrower. If 8orrower aband�ns tho
<br /> Property�or does not answer within 30 days a natlr.e from l.ender that thc insw�anoo carrier has offered to settle a claim, thea
<br /> Lender may coflxt the insurance pmcoeds. Lender muy use the proxods to repair or restore the Pmperty or to pay sun�s
<br /> secured by this Security Instrurrtant. whether ar not then due.The 3�day pedad will begin when the notiae is piven.
<br /> Unless I.ender and Bomower atherwisc pgree in wr�ting. any applic�tian of procccds to prlacIpal shalt not extead or
<br /> postpone the due datc of the monthly payments�ferred to in pursgmphs 1 and 2 or chaage the emoun� of tt�e paymente. If
<br /> under paragraph 21 the Property is acquired by L.ender.Borrower's right to siny insuranoe policies end procoods rcsuldng fmm
<br /> damage ta the Property prlor to the ucquisition shali pass to Lander to the extent of th;.su�sax�red by this Security Instsun�t
<br /> immediately prior to the acquisidon.
<br /> 6.Oocupattcy,Preservutiop,Maintenance and Protection of the Properiy;Boreower's Lonn Apptiattion;La.gd�oide.
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residenoe wtthin sixry days after the execatlon of
<br /> this Security Instrument and shall cnntinue to occupy the Property as Borrower's princtpal residence for at least one year aftu
<br /> the date of oocupancy,unless Lender otherwfse agrees in�vridng.which consent shall not be unreasonably withheld.or unless
<br /> extenuullns circumstances exist which are beyond Borrower's contraf. Borrower shall not destroy. damage or impair tlu
<br /> Property. allow the Property to detedorate, or cammit waste on the Propercy Borroaer sh�ll be in defa�lt if any forfeitare
<br /> actlon or pmceeding.whether civll or criminal.is begun that in Leader's good faith judgment could result in furfeiture of ihe
<br /> Property or otherwise matedally impair the Iten created by this Securiry Instrument or Lender's secur�ty interest.Barrower may
<br /> cune such a defAUlt and reinstate,as prov[ded in paragraph 18.by causin�the icctlon or proceodins to be disn�issed with a rnling
<br /> that� in Lenders good faith ddcnninaiion. pra:iu�fcs P�ifeitsr� af ihc Sarrautx's 3niertst in the Pmperty nr osh?r�rPrir?
<br /> Impairment of the lien created by this S�xurity Instrument or Lender's security tnter+est. �orrower shull ulso be In default if
<br /> Borrower.durin�the loan application process,gave materially false or Inaccurate information or statements to Lender(or failed
<br /> to providc Lender with any materlai informatton)in connection with the toan evidenced by thc Note,including.but not limited
<br /> to.representations conceming Borrower's occupancy of the Propefty as a pdncipal restdence.If thls Securtty Insuument is on a
<br /> lea.gehold, Borrower shall comply with all the provisions of the lease. If Bormwer acquires fee tttle to the Property. the
<br /> leasehold artd the fce title shall not merge unless I.ender ug�ers to the merser in writin�.
<br /> 7.ProteMton of Leader's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> this 5ecurity Insm�ment. or there is a legal proceeding that may si�nificantly affect Lender's rights in the Property (such as a
<br /> proceeding in bankruptcy,probata. for condemnation o�forfeiture or to enforce laws or negulations), then Lender may do nnd
<br /> pay for whatever is necessary to protect thc value of the Property und Lender's rights in the Property. Gender's actions may
<br /> include paying any sums secured by a lien which has pdodty over this Securiry Instrument, uppearing in court. paytng
<br /> reasonable attomeys'fees and entering on the l�mporty to make repaics. Althou�h Lender may take action under this paragraph
<br /> "� ` ' 7.I.ender does not have to do so.
<br /> % ''^� Any amounts disbursed by Lender under this paragraph 7 shall become additionul debt of Bomower secured by this
<br /> c���;;;��� Securlty Instniment. Unless Borrower and Lender agree to other tcrms of puyment,these amounts shall bear interest from the
<br /> ''�'•'��'''��'` •� date of disbursement at the Note rate and shall be payabte. with interest, upon notice Prom Lender to 8orrower requesdng
<br /> �,.,;�:....:;_..,.. payment.
<br /> 8.Mortgage Insurance. If Lender requi�ed mortgage insurance us a condition of making the loan secured by this Security
<br /> -�� :tt. ' � Instrument. Borrower shall pay the premiums required to m�intnin the mort�age insumnce in effect. If. for eny reason. the
<br /> , mortsage tnsumnce coverage required by Lender l�pses or ceases to be in effect.Borrower shall pay the premiums rtx�uired to
<br /> �`� obtain coverage substantially equivalent to the mortgage insurance previousiy in effect,at a cost substantially equivalent to the
<br /> .;:;:•.' �' cost to Borrower of the mortgage insurance previously in effect, from sin �Iternate mortgage insurer approved by L.ender. If
<br /> � �� � substanually equivalent mortgage insurance cavera�e is not avaitable.Banawer shall pay to Lender each month u sum equal to
<br /> �'"�'� ,j;:�� one•tweltth of the yearly mortgage insurance premium being puid by Bonower when the insurance coverage lapsed or ceasod to
<br /> � � be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> ' � Form 3028 8/90 �j;;,
<br /> �'... ' � .. Po90 3 0l B i;�;;
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