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<br /> � S. H�zwod or P�+o�e�iy Insarax�ce. Aarrawar Fhali kcep 4hc improvea�nts nu�v�a�tiqg ax he�xlter emti�! �on tl+je �-
<br /> Pra�terty insu�•cd 2�ein�t lo�:yb�(iva, t,:��nr�te itlr.tild�d�vtthin tlie term "extendcd ct��•cr,�C' a�xl any Udier t�a•r.;,rd�, im:iudir�g
<br /> floocls or flooding,for whic7�i.endcr requires ins�wmco. '�i�is hisurance shafl l�inatntainecl in the�nwunts ur,cl forit�e periocis
<br /> that�nder r�quires. The in.sura�ee carrler provlding tlte insurance shalt be cliassn by fl�irrower�ubJect tq lender's appinval
<br /> whtch shati nut be unrcawnably withfield. If Barrawer fuile to maintaln coveraqe de.scribod nAove, l.e�r may, at L�trder'g'•� °
<br /> aption,obtain covorage to�r=+otect Lender'�rlghts in the Praperty ic�uccordancu whh pxragra�h 7. , �,
<br /> Atl insurance pulici�s and renewals shal! bo uccep[uble to Lerxler and e6a11 include u staixlanc!mongage ciause. L.eader
<br /> aha11 have the dght tn hvM t�e poli��ies a�Kl ret►ewul:�.If f�et�der rc�uirc�,Borrowee biiu{I p;uiiij�rly give.to i.E;jxk:►ali c.xc��rls wt'
<br /> paid pnmium,�and renewpl rat€ces.In the event of loss. Borrowcr shall givc prempt natloe to the inau�aur�er a�d l�er�der.
<br /> Lender nlay make proof afloss if not mnde prumpily by Bormwer..
<br /> Unless Lender and Bormwet otherwi.se Agra in writing,tnsarance proceeds sha11 be appliod ta restoratlon or npair of the
<br /> Property dumagai,if the restaudon or repair is economically feusibla und Lender's secudry.is not lesscnrd. If thc restoretion c►r
<br /> repair is not economically feasible or Lender's 5ecudty would be lessened,the insurance proceals shap be upplial to the aums
<br /> secured by thia Security insdument,whether or not then due, wlti►any excess paId to Borrower. If Borrower abandons the
<br /> Praperty, or dces not answer within 30 days a noace from l.ender that the iasurance currier has offercd w settle a claim,then
<br /> i,ender muy oollect the insureace proceeds. L.ender rr�y use the pmoeeds to repa4r or restare the Ptaptrty ur to pay sunts
<br /> secured by this Security Instrwnent,whether or not then due.The 3U-duy period wiq begin when the nottce is glven.
<br /> Unless I.ender and Bortower otherwise Agm� in writins, any applirndon of pmoeeds to principal shali not eatend or
<br /> poscpone the due date oithe monthly payments refemed to fn paragraphs 1 and 2 oa change the amount of the paymes�te. If
<br /> under psuagraph 2!the Property is acquired by Lender, Borrower's r3ght to any insurance policles and procceds resnitins from
<br /> damage to the Property ptbr to the acquisttion shall pass to Lender to the extent of the sums sec�l by thjs Secur�ty Instrumeut
<br /> immedlately prIor to the aa�uisition.
<br /> �, r �...;:�: - 6.Occupancy,Preservatfon,Mafntenance nnd Prt,tection o!tite Property;Borrower's Loan Appticatton;I.esseholds.
<br /> Borrower shall occupy.estabUah,and use the Praperty as Borrower's principal residence within sixty days after the executlon of
<br /> ;�.T�,.,�.'":;;;':" ° this Secudty Instrument and shall continue to occupy the Propa�ty.as Borrower's princlpat resIdence for at least ona year after
<br /> " k'' s, tha date of occupancy. unless Lender otherwise agreex fn writin�,�which consent shall not be unmasonubly withheid, or unless
<br /> ��� .,,:�� extenuating circumstanca exist which ane beyond Borrower's oontral. Borrower shaU not destroy, dacnage or lmpair the
<br /> �'"�`"'�'''' . Praperty. allow the Pro,porty to d�tedorate, or eommlt waste on th�Property. Borrower shall be in defautt if any forfeiture
<br /> �`.;'.'''�5� ' �{''` act�on ar proceeding. whdher civil or cdminal,is 6e�un that in L�ender's gaod faith judgment could result in forfeiture of the
<br /> �"%'�"�'` �_� ` Property ar otherwise materially impair ths Ilen created by this 3ecur�ty Instrument or Lend�r's security interest. Borrower may
<br /> • !Lt,� .•��•`r
<br /> 'T,'••:'�:`-� ` cure such a default and reinstete.us provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br /> • lhst, in Lender's good feith determination. precludes forfeiture of the Borrower's interest in the Property or other material �
<br /> '"''""V�,� �'� .� !m airment of the Ilen crcated b this Seruri Instrument or Lender's secudt interest. Dorrower shelf also be In default if �
<br /> ;?.;, ' `•..'r � p Y �Y Y
<br /> ' ^ ; ' Horrower,durin�the loun applIcation process.gave matedally false or inaccurate Informatian or statements to Lender(ar f�iled
<br /> to provide Lender with siny raatedal informndon)in cannect[on wIth the loan evidenced by t6e Note, including,but not limited
<br /> � �. to.i+epresentatlons conceming Burrower's occupancy of the Property as a principal residence.If this Setur�ty Instrument Is on a
<br /> ' , ' leasehold. Borrower shall camply with all the provisions of the lease. If Borcower acquires fee title to the Property, che
<br /> .. • '. , leasehold and the fee title shall not merge unless I.ender s�grees to the merger in writing.
<br /> _ - , 7.Profeetion of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements conteined in
<br /> � •� this Security Instrument.or there is a legu! proceeding thut may significuntly affect Lender's rights in the Prap�rty(such as a
<br /> �.��: ', .
<br /> • . proceediti�in ba�tkcuptcy,probate. for wndemnation or forfeiture or to enfonce(aws or re�utattons).then L.ender may do and
<br /> . � . pay for whatever is necessary to protect the value of the Property and Lender's rights in the Properry. I.snder's actlons may
<br /> � `" "`;'.' , include paying ttny sums scxured by a lien which has priority over this Security Itutrument, appcur�ng in ¢ouR, paying
<br /> � reasonable attomeys' fees and entering on the Property to make repairs.Although Lender may take Action under this paragraph
<br /> • � • � • 7,Lender dces not have to do so. �
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<br /> ' Any amounts disbursed by Lender under this p;sra�raph 7 shall become additional debt af Borrower secured by thls ',.'
<br /> �'.' �' . �. Secur�ty Instrument. Unlas Borrower and Lender�gree to uther tcrms of payment,these amounts shall bear interest from thc �,
<br /> �' � • date of disbursement at the Note rnte and shall be pnyable, with interest, upon notice frmm Lender to Borrower requesdng '�";�
<br /> �ir;k�. ., payment.
<br /> " � 8.Mortgase Insurnnee.If I.ender required mortgu�e insurame as u condition of making the loan secured by this Security
<br /> ' •• • • Instrument, Borrower shall pay the premiums mquired tn mvntain the mortgage insurance in effect. If, for any reason,the .
<br /> mort�age insurance coverage required by Lender lap.�es or ccases to be in effect, Borrower shzitl pay the pmmiums required to
<br /> �''"� �"� �� obtain covera�e substnntielly equivalent to the mort�uge insurance previously in effect,at a cost substantiully equivalent to the
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<br /> ���•�:. . � cost to Borrower of the mcs�tgage insurance previously in effect, from an ulternate mongage insurer approved by Lender. If
<br /> ' substantially equivalent rnor[gnge insurance covera�e is not available.Borrower shall pay to I.ender cach month a sum equal to
<br /> ;.���� " . one-twelfth of the yearly mc�ngage insurartce premium being paid by Borrower when the insurance coverage lapsod or cease� to
<br /> �;� ° . be in effect.Len�er will accept, use and mtuin these payments as a loss reserve in lieu of mortgage imurnnce. Loss reserve '
<br /> +' � Form 3028 9/90
<br /> . Papo 3 of 8
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