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<br /> S. Hazud or 1'roperty Insurtince. Barrawer ehull keep the improvements now exietln� or herenftcr erected on tho
<br /> Property insurod aguinst luss by fire, huaar+de incluQed wfthln thn term "extended cavemge"und nny ather fiozarda, includi�g
<br />, floods ar ftoading. for whlch I.ender re�uires insumnce. Thi�insurance ahull be maintuined in the mm�unts c►nd fi�r the perioda ,_-
<br /> that I.ender requlres.The insurance carrler providing the insururtce ahnll be cho.sen by Borrower�ubJec4 to I.ender's appmvnl
<br /> which shall not ba unrr,�sonubly withheld. If Borrower fails to maintain coveruge descrfbaf ubovc.L,endcr may, ut I.crder's
<br /> optlon,obtain coverage to protect L.ender's dght�in tho Property ln acoordance wtth psuagmph 7.
<br /> Ali lnsurarice policies artd renewals shall be acceptnble to l,ender and shull include u standard mortguge clause. i.ender
<br /> shatt have the dght to hold the policies awd renewals. If Lender requires. Borrower shnll promptly give to Lender�II roceipts of
<br /> paid premtums and renewal notIces.In the event of loss,Boreowee she!!�Ive prompt noUce to the Insunut�x csurjer su�d L,ender.
<br /> I.ender may cqske proof of loss if not made promptly by I3orrower. �
<br /> UnSess l,ender and�orrower otherwise ugree in writing,insurcu�►ce procceds shnll be applied ta restoratton or repuir of tha
<br /> Property damaged,if�he restoration or cepair ia economically feasiblo end Lender's socurity is rtot lessened.If the restorat3on or
<br /> repair ls not ecanomically feasible or L.ender's securIty woul�be lessened.the insurance pteceed5 shall be appliad to the aums
<br /> secured by thi» Sccwlty Insuument, whelher or not then due. wlth any oxcess pald to Borrower. If Borrower abandons the
<br /> Proparty.or does not answcr within 30 days a notice from L.ender that the insurnnce c�rrier has offerod to settle a claim,then
<br /> Lender may collect the insurance proceeds. L,ender may nse the procerds to repair or restora the Pcoperty or to pay suius
<br /> secured by this Security Instrumem�whether or not then due.The 30�day perlod will begin when the rtotIce is given.
<br /> Untesa Lender and Borrower otherwise agree in wdting, any appllcat�on of pt+nceeds to princlpai shall not extend or
<br /> postpone the due daze of' the monthly payments refemed to in paragrephs l and 2 or change the amount of the paymenta. If
<br /> under parngraph 21 the Froperty iR acqulted hy Lender.Borrower's right to at►y insutance polictes and proceeda resWdng from
<br /> dea�age to the Praperty priar to the acquisItion shall pASS to Lender to the extent of tde sums secured by tb�la Securlty Insuument
<br /> . immat�ately prlor to the acquisiHon.
<br /> 6.d�a�PancY.Preservatton,Mitintenance and ProtecUoq of t6e Pi+uperty;Borrower's Loan Appllcatlon;I�sehobds.
<br /> Borrower shalt accupy,establish,and use the Property as BorrAwer's pdrecipal restdence wlthin s�xty days after the eaecution of
<br /> this Securlry Instrumeat and shal!condnue to occupy tha Prop�rty as 8orrower's principat residencc for at least one year after
<br /> the date of occupancy,unlesa Lersler otherwlse agreas ia wdting,which consent shall not be unmasonably withheld.or unless
<br /> extenuaHng c�rcumsrances extst whtc�h A� Myon+� BQrrowrs's �ntrol. EQSras.�er s1�! uot �sray, siamag� or 3r�ir tha
<br /> Pmperty. allow the Property to deteriorate. or oommit weste on the Pnoperty. Borrower shall be in defeult if any farfeiture
<br /> actIon or procaeding, wheiher civil or erIminel.is begun that 9n I.ender's good faith judgmcnt could result In forfeitum pf the
<br /> Pcoperty or ot6erwise materially impair the lien crested by this Securiry Insuument or Lender's securIty interest.Boaower may
<br /> cnre such a default aud reinstate,as provided in patograph 18.by cavsIng the acNon or pcocEeding to be dismissat wIth a ruling
<br /> that. in Ixnder's good faith determination. preclades forfe'scure of the 8orrower's interest in the Property,or other materlai
<br /> impairnietit of the Uen created by thi9 Secur[ty Instrurnent or Leitder's sa.writy lntenest. Borrower sha}I also be In default if
<br /> Borrowet.dudng the loan applisallon pracess,gave materially faise or inaccurate Informaiion or statemeats to Lendei(ot failed
<br /> to provi@o Lender wIth eny mutedal information)in corutection with the loan evidenoad by the Note.lacluding,but•not limited
<br /> w.representadons conoemin�$orrower's occugaacy of the I�roperty as a principal resideace.If this Securtty�Instrument is on a ,
<br /> leasehold, Sorrower shuU comply wlth uU tha pmvlsfions of the lease. If Borrower ac�qulres fee dcle sp the Property. the
<br /> leasehold and the fa dtic�shaU not merge unless Lender ag�ees to the merger in wcitIng.
<br /> 7,P�odadon of Lender's RipEhts in the Property,If Borrower fails to perform the oovenants and ag�ecments conteiued in !
<br /> thts Secur�ry Instiumem,or there is a legal proceeding tbat naay significantly affect I,ender's dghta Ia the Property(such as a
<br /> pmceeding in bankruptcy. probate. for condemnatipn or forFeiture or to enforca lawe or regulatioas).tden Les►der may do and
<br /> �rny ior whatever is neces,4ary to pmtect the value of the Property snd L,ender's r[ghts in the Peoperty. I.ender's acNons may � �.
<br /> includ�pay�ng uny sums socnred by a lisn whfch has pxiority over this Securlty Tnstrument, appearing tn oourt,•�►ayIug
<br /> teasonable attomeys' fas and enterIag on the Property to matce cepairs,A,Itbough Leader may wke acdon under this pArnrngreph
<br /> - 7.[,e�uter does not have to do so.
<br /> Any a�nounts disbqrsed by L,ender under this patagraph 7 shall bc�ome additlonal debt of Borr�ower sacured by this
<br /> Security[nsaumenG Unless Borrower and Lender agrees to other tern�s of payment, these amounts shalt ficar intet+est from the
<br /> date of disbursemept at the Noie rate and shall be payable, wlth intecest, upon notice froa►L.ender to Eorrower reguesting
<br /> payment.
<br /> � $.Mort�age Insupu�ce,If I.ender�nequirod mortg�ge insurnnoe a�a corollHon of making the loan securEd by this�5ecurlty
<br /> Inswment, Bomower shall pay the premiums requirod to malntain the mortgage insurance in effect.If.for eny reason.the !-
<br /> � mortga,ge insuranoe ooverage requit+ed by I.ender lapses or c�eases to be in effect.Borrower shall pay ttir pnmiums requin�d to
<br /> obtain cavetage�ubstanttatiy equivalent to the mortgage insurstrtce pr�wtonsly in effec�t,at a cost substent�ally equivatent to the
<br /> . oost to E�rrowcr of the mortguge insnranoe previouAly in effect, from an alternate mortgage insurer appmved by Lender. If
<br /> , substantIally et�uivalent mortgage insurance ooverage is not available.Borrower stwU pay to Lender each month a sum eqaal to
<br /> onatwelfth of the yeariy mortgage insurattoe premium be;ng pa�d by Borrower when the insurance coverqge lapsod or ceased to
<br /> : be ip effect.LEnder wiU nccept.use and retain these payments as a loss reserve in lieu of mortgage insurnnce. Loss rzserve ,
<br /> �Form 3028 8/90 �
<br /> vaos s a e
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