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<br /> 5. �[�Zad or Prope»y In.gurance. Hormwer shall kcep thc imptavemente �aw existing ar herc.�ftcr erectc�l an thc
<br /> Property insured aguinst 1aa5 by tirs.hux�cds includc,�l wld�in the tcrm "extended covemgo" und any ather har.nrds. including
<br /> floafx or 6iex�ding,for whtch l.ender requires insumr�ce.This insurnnce shal!be maMt�tned in the umountR anJ for the pertudK
<br /> ihat Lender rcquim.s. Thc insurnrtce c�ttrier prnvidin�; thc insunmce shull bc chosen by Barrawcr SubJcct to I.cndcr's appmvul
<br /> which shWl not be unreasonubly withheld. If Barrower fuilR ta mntntnin cuvernge describcd ubovo.l.ender muy, ut I.e�edcr'F
<br /> option.obtu(n cavercige to protect L,ender's rfghts in the Pmpcjrty in uci:aednme with paragruph 7.
<br /> Alt insurartce policies nnd renewals shall be ucceptabie ta L.ender and �hall include u standur+d murtguge rtause. l.ender
<br /> shall hnve the right to hold the palicies snd renewals. Et I.cnder requires.Borrower�;hall pramptiy give ta Lender all receiptx of
<br /> paid premtums and renewnl notices.[n the cvent of lass,Banower shall �ive prompt nattce ta the insurar�ce cArrler and Lender.
<br /> L.cnder may make proof of loss if not made pmmptly by Barrower. _
<br /> Unless L.ender and Borrower otherwise agtce in writing. lnsurance proceeds shall be applicd to r�tanUton or repuir of the
<br /> Property damaged,If the restoradon or repuir is economlcally feaslble and Lender's secur�ty is not lessened.If the resWmuon or
<br /> repair Is not economicelly feasible or Lendet's security would be lessened.the insurance proceeds shell be applied to the sums
<br /> secured by this Secudcy insuument. whether or not then due,with uny exeess paid to Borrower. [f Borrawer abandons the
<br /> Property, or dces not answer within 30 days a nodoe from Lender that the insurance carrler hes offered to scttle a cluim.then
<br /> I,ender may collect the insurance proc�eds• Lender may use the proce,eds to repair or restore the Praperty or to pay sums
<br /> secured by thls Securlry Instrument,whether or not th�n due.'fha 30-day period wi!{begin wteen the notice is given. -
<br /> Unless Lender and Borrower otherwise aIIree in wrlttng, any applicatIon of proceeds to principal ahall not extend or
<br /> postpone the due date of the monthly payments refened to In paragraphs I and 2 or change the sinwunt of the puyments. If
<br /> under paragraph 21 the Proparay is acquired by Lender,Borrower's right to any insurance policies und proceeds resulting from
<br /> damage to the Pmperty prlor tc►the acquisition shall pass to L.ender to the extent of the sums secured by thls Secudry Insuument
<br /> imnu�diately prior to the acquisirion.
<br /> 6.Uocupancy,�'reservafion,Maintenance and ProteMion o!the Property;Borrower's Laan AppNcatton;I.e�sehotds.
<br /> Borrower stiall oaupy,estabt�h,and use the Property as Borrower's pr�ncipal resIdence withjn slaty days after the execution of
<br /> this Secudty InstNment and ahull conti�ue to accupy the Property as Borrower's principal residec�ce for at least one year after
<br /> the date of occupancy,unless I.ender at!►erwise agrers in wrlting. which cansent shall not be unreasonably whhheld,or unless
<br /> extenuadng aircumstances exist which ace beyond Barrower's control. Borrower shal! not destroy. damage or impalr the
<br /> YroPenS'. aliow the Property to�iciccii,rat�. or tomr.iit wasia an ihc Pragersy. Bormwer sh�ll be in defaul�if any forfeiture
<br /> acdon or procxeding.whether civil or criminal, is begun that in�L.ender's gaod fatth jud�ment wuld result in forfeiture of the
<br /> Property or othsnvise materially impair the lien ct�eated by thia Secudty Instrument or I.ender's secudry intarest. Bormwer may
<br /> cure such a dafa�lt and reiastate,as provlded in paragrc{ph 18.by causin�the action or proceeding ta be dismisse�with a ruling
<br /> that, in Lender's good faith determinacion, precludes forfeiture of the Borrower's interect in the Propetty+or other materna{
<br /> impairment oP the lien created by this Secur[ry Instrument or Lender's securlty inserest. Borrower shall also be In default if
<br /> Borrower.dur[ng the loan application process.gave materlaUy false or Inaccumte infarn�ation or statements to Lender(or failed
<br /> to provide I.ender with any matedal informatlon)in ooanection with the loan evidenc�l by the Note,including,but not ltmlted
<br /> to.represent�ttions concernia}�Bormwer's occupanoy of the Pmperty as a pr�ncfpal restdeace. lf this Securlty Instiument is on a
<br /> leasehold. Borrower shall comply with al! the provisfons oF the lease. If BormwPr acquires fee title to the Property. the
<br /> leasehold and the fee dtte shall not merge unless I.ender agrees w the merger in wdung.
<br /> 7.Protectton ot Lender's Rights in the Property.If Borrower faiis to perform the covenants and agreemencs containad in
<br /> tt►is Security Inst�urnent.or there is a legal proceoding that may significandy affect T.ender's dghts in the Property(such as a
<br /> proc�ediag in bankruptcy,probatB.for condemnation ar forf�e[ture ar to enforce laws or regWadons),then Lender may do and
<br /> pay for wlutever Is necessery to protect the value of the Property und L,ender's ri�hts in the Property.Lender's actions may
<br /> inslade paying eny sums secured by a Iien whtch has pr�ority over this Seeurlty Instcument, appearing in court. puying
<br /> i+easonabie attorneys'fees and entertng on the Property to make repairs.Although Lender may take action under this parasraph
<br /> T.i.ender docs nw hnve to do so.
<br /> Any amounts disbursed by Lender under thts puagcaph 7 shall berome uddidanal debt of Borrower secured by lhia
<br /> Security Instrument.Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest from the
<br /> date of disbursement ut the i�tote ns�n et►xI sl�uii Ur payai�tn. with interest. upon notice from Lender to Bormwer requesting
<br /> payment.
<br /> 8.Mortgage ttuurunce.If Lender required mortga�e insuranx as u condttion of maktng the loan secured by thia Secur[ty
<br /> Instrument, Borrowcr shttll pay the premiums required to maintaln the mortgage insurance !n effect. If. for any reasnn, the
<br /> mortgage lnsur�ce ooverage required by Lender lapses or ceases to be ia effect.Bortnwer shall puy 2he premiums require�l to
<br /> obtain ooverage substand�liy equivatent to the mortgage insurance prevtously in effect, at a cost substandelly equivalent to the
<br /> cost to BoROwer of the mortgage insurance previously in effect, from an aiternate mortgage insurer appmved by I.ender. If
<br /> substantiully equivulent mortgage insurance covera�e is not available.Borrower shall pay to Lender cach month a sum equsi to
<br /> one-twelfth of the yeady mortgage insurance premium being puid by Borrower when the insurance covernge lapsed or ceased W
<br /> be in effect. i,ender wiU aocept,use nnd retuln these payments es a ioss reserve in lieu of mortgage insurance. Loss reserve
<br /> Fonn 3028 8/90
<br /> Pape 3 of 8
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