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<br /> S. H�� or Prupertq Insueanee. Horrower shall kcep the improvemcnts now ex3sting �Fie�reaftet erect�l on the
<br /> Property insurcd ugainsY lass by tire. hw�rds included within the tenn "extcnded rnveru�e'und uny other hazards, including
<br /> flaads ar Ilcx�ding, far which L.ender requires insur.ince.This insur.�nce shnll he malntuined in thc umaunts and for the pe�lada
<br /> that I.ettder requircs.TPte insurnnce carrier providing the insurance,hall be chosen by Rarrower�;ubjcct to l.cndcr's appravul
<br /> which�+hall nnt br, unreu.sannbly withheld. If Borrower fuils to maintain covenge dcsscrlbed ubuve, Lender may, nt l.ender's
<br /> oplion,obtain coverngo to proteet Lender's tighta in ihe Property in uccordunce wlth pamgr�sph 7.
<br /> Ail lnsumnce palicfes und renewals shall be acceptable to Lender nnd shall include a standard mart�oge ctuuse. Lender
<br /> shail huve the right to hoid the poticies arid renawals.If Ixnder requires. Dorrower shall promptiy give to Lender ull receipts of
<br /> paid premiums and renewal notices.In the event of loss.Borrower shall�ive prompt nodce to the insurance carrter and L,ender.
<br /> Lendcr may mnlce proof of loss if not made prom�tly by Borrawer.
<br /> Unless Lender and Borrower athenvIse agree i n writing. insutance ptaceeds shalt be applied to restaratiun or repair of the
<br /> Property damnged.if the restoration or repair is economicaUy feasible and Lender's secudty ia not lessened.If the restoratIon or
<br /> rcpuir is not econamically feasible or Lender's security would be lessened,the insurarta pmceeds shall be applied to the sums
<br /> secured by thia Secudty Instrument. whether or not then due, wlth any excess pald to Borrowcr. If Borrower ubundons ihe
<br /> Property,or does not answer withln 30 days a nodce from Lender that the insnrartce carrier has offered w settle a claim. then
<br /> Lender may mllect the insurance proceeds. Leader rnay use the proce�ds to repalr or restore the PropeRy or to pay swns
<br /> secured by this Secudty Instrument,whether or not then due.The 30-day period wlll b�gin when the notice Is given.
<br /> Unless Lender and Borrower otherwise agree in wridng, any application af proceeds to pr�nclpal shnll not extend or
<br /> pastpone the due datc of thc monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender.Borrower's rlght to any insuranc� policies and proceeds resuldng from
<br /> dumaga to the Property pdor to the acquisition shall pass to L.ender w the extent of the swns aecured by this Security Instn�ment
<br /> immediately prlor to the acquisition.
<br /> 6.ikxupuucy,Presecvation,Maintenance and Pratectlon af ths Pco�; @or"ruwer's I.oan A�►plicatton;I.easeholds.
<br /> Borrower shall occupy,establish,and uss the Properry as Bornower's principal residenee within sixty days after the execution of
<br /> thls Securlty Instn�ment and shall condnue to occupy the Property as Borrower's princlpal residen�e far at least one year after
<br /> the date of occupancy,u�less I.ender othenvise agreES in w�Iting, whIch consent shell not be unreasonably wNhheld. or unless
<br /> extenuadns cl�umstances exist which ere beyond Horrower's control. Horrawer shall not destroy. damage or impair the
<br /> Property.aUow the Property to detertorate. or cornmit weste on the Property. Borrower shall be In defanit If any forfeiture
<br /> action or proceeding.whether civil or criminal.is begun that In I.ender's good faith judgment could result in forfelture of the
<br /> Property or othenvise mutedaily impajr the lien cre.ated by thls Serurity Instrument or I.crtder's security iaterest. Borrower may
<br /> cure sach a default and reinataw,as provided in paragraph 18,by causing the action or praceeding to be dismjssed with a n�llag
<br /> that. ln L.ender's good faith determination, prccludes forFetture of the Borrower's intet+est in the Yroperty or other materiat
<br /> impairme�d of the lien create�by this Seeurity Instrument or I.ender's sectuity iaterest. Borrower shail also be in default if
<br /> Borrower,during the loan appllcaHon pmoess,gave materislly false or inac�urate information or statements to Lender(or f�iled
<br /> to pmvide Lender with any material informatton)in crmnection wlth the loan evidenced by ihe Note.inclnding.but reot lim[ted
<br /> to,representatlons concerning Borrower's occupancy of the Property as a principal residence.If this Secudty Instnunent is on a
<br /> leasehold, �orrower shaU.00mply with all the prov{sloas of the lease. If Borrower ecquires fee titte to the Properiy. the
<br /> leasehold and the fce dde shall not merge unless I.ender agre�s to the merger ia wridng.
<br /> 7.Protectton of I.ender's Righte in the Property.If Bormwer fa�ls to perform the covenants and agreements coniained in
<br /> thts Secudty Instrument,or there ia a legul proceeding that may significandy affect Lxnder's rights in the Property (such as a
<br /> proceeding in bankruptcy,pmbate.for condemnation or forfeiture or to enforc�e laws or regulatlons).then Lender may do and
<br /> pay for whatever is necessery to pmtrM the value of the Property and Lender's rights ln the Property, I.ender's actions may
<br /> includo paying any sums secured by a lIen which bas prIorfry over thts Security Instrument, appearing in rnurt, paying
<br /> reasonable�attorneys'fees and erttoring on the Propert}+to make repairs. Although I.ender rnay take action under this paragraph
<br /> 7.I.ender does not have to do so.
<br /> Any amounu disbursAd by Lender under thls paragraph 7 shall become additional debt of Iioaower secuned by this
<br /> Security Instniment. Unless Borrower and Lender agree to other terms of payment,these emounts ahall bear interest from the
<br /> date of disbursement at the Note cate and shall be payuble. with interest. upon notia from I.ender to Bc�rcower requ�sttag
<br /> payment.
<br /> 8.Mortgage L�suraaoe.If Lender required r►2ortgage insurance as a conditton of making the loan secured by this S�cudty
<br /> Instmment. Honower shall pay the premiums requlr�d w maintain the mortgage insurence in effect. If. for aay reason, the
<br /> mortl;age{nsurance coverage required by I.ender lapses or ceases to be in effect� Bormwer shall pay the premiwns required to
<br /> obic+in coverege substentlally cquivalent to the mortga$e insurance previously in effect,at a cost sabstantially equtvaleat w the
<br /> cr5t to Borrower of ihe mortgage insurance prevtously in effcxt. from an altemate�nortgage insur�r appr�ved by Lender. If
<br /> substendaqy equivalent mortgage insurance rnverage is not avnilRble,Borrower shall pay to Lender each month a surn equal to
<br /> one-twelRh of the yearly mortgage insurance premi um being pnid by Borrower when ihe insurance coverage lapsed or ceased to
<br /> be in effect.I.ender will eocept,use and retain these payments as a loss reserve in Iteu of mortgage insuranx. Loss ¢�eserve
<br /> Fom►3028 9/90
<br /> Pepo 9 ot 0
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