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.��--� 3.(�`789rF
<br /> 5.Hszar��r T'roperty Insaramce. Boerower shall kcep tiie impravements now eacisting or he�aft�ei�ted on the Frop�ty
<br /> :nsureci a�aine: lo.� by iue, ha�ards incloded wishin the term "eactsndeci coveaage" and any other hazazds, including fk�ods or
<br /> f?o�ding� for wi�ich Lzr:�er requires i,�surance.This ir�urance sha91 be maintained in the amounts and for the pe�iods that Lerider
<br /> requires.The insa.*ance carrier providing the knsurance shall be chasen by Borrawe.-subject bo Lender's approval which shail not
<br /> ir;� unreasonably withtreld if Borrower fails to maintai.n ca��rage describ�ti gbove, I�ender cnay, at I.ender's op�ion, obtain
<br /> coverage to pratect Lander's righu im the Progerty::.accortlance with par�h 7.
<br /> AI2 in�uranr.�policies a�d renewals shall be ac�e.ptable t,�L,ender and �hall include a standard mortgage clause. Lender s�all
<br /> ha+�e ths right to hoid the luolicies and reaewals. If Lenc.:r requires, Borr�ower shall'prompdy give to Lender all receipts of paid
<br /> premiur�s and ranewat natices. In the event of loss,�rnrower sha�!�ive prornpi notice to the�surance cani�r and L�nd�.Lender
<br /> nay ma.�cP groof of loss i�not nnadc prompdy by 5orrov�er.
<br /> Unless Lec�der and Bor.rower orherwise a� i� writing, insuiance proeeeds shall be applied to restorati��n �r repair of �he
<br /> Fmgerty damage�� if the resi,oration or r�a..ir is economicaFly feasible and Lender's sec�r'sty is not less�ned. If ti�e restorsiion or
<br /> repair is not economically feasible ar Lender's security woFild be lessened, the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not ttien 3ue, with any ea�ce.ss paid to Borro�rer. If Borrower abandons the�
<br /> Property, or does not answer within 30 iiays a n�tice from Lender that ehe insarance camer has offered to seule a claim,`then
<br /> L�nder�raay collect the insurance proce�ds. Lender may use t2�pro�ceds to repair or reseore the Property or to pay svms secured
<br /> by this SecuriYy IiTStrument,whether or not then due.'Ilie 30-day period wit�begin when the notice is given.
<br /> Unless Lender and Borrower otherwise�ree in writing,any application of g,rocesds oo principal shall not extend or postpot�e
<br /> the due date of the manthly payments refesred to in pazagraphs 1 and 2 or cthange the amaunt of the paycnents.If under paragraph
<br /> 21 the Pmperty is acqulied by L.ender, B�rrower's riglht to any insur�nce policies and proceecis resulcing from damage to the
<br /> �c�operty prior to the �;quisition shall pass to Leander to the extent of the sums se�ured by bhis Security Inswment immedi�treIy
<br /> prior to the acquisit�on.
<br /> 6.Occupancy,Preserdation,Maintenance and Protection of the Property; Borrower's Loan Applicati�n;Leasehoids.
<br /> Borrower shald occupy,estat�tis.�, and use ihe Property as Borrower's princigal residence within s'vcty days after tt�e ezecation of
<br /> this Security Instrument and shall cantinae to occu�y the F'roperty as Borro�ver's�rinci�al residence for at teast one yeaz after the
<br /> date of ocrupancy, unless Lender otherwise agrees an writing, which consent s:�all not be unreasanably withheld, or unless
<br /> ezcenuating circ�:mstances e�cist which are beyon� Bomower's control.Borrower shall not des�y,damage or impair the Property,
<br /> aIlow the Yco�erty to deteriorate, or commit waste on the Pzoperty. Brnrowa shall be in defaulc if any forfeiture; action or
<br /> proceeding, v;hether eivil or�riminal, is b�g!ui that in Lendex's go�d faith judgme�t could result in forfeiture of the Aoperiy or�
<br /> othera�ise maierially impair the lien created by this Se�urity Inswmes�t or Lender's security interest. Borrower may cure svch a
<br /> default and reinstate, as provided in pazagraph 18, by causing the �rtion ar procceding to he dismissed witfi a ruling triat, in
<br /> Lender's good faith detamination,precludes forfeiture of the Borrower's interest in*he Propert� or other material impaiUment of
<br /> the liea� created by tiais Security In�trument or Lendes's security interest Borrower shall a�so be in default if 3orrower,during the
<br /> loan application process,gave snate�ially faLse or inaccurdte information or statements to Lendes(or failed to provide Lender with
<br /> any m2terial infarmation) in cc�nnection aryth ihe loan evidenced by the Note, including, but noc limited w, re�ntations
<br /> concerning Borrower's occupancy of the Property as a princip,il residence. If this Security Instrument is on a leaseho�d,Borrower
<br /> shail comply witih aIl tlhe provisions of the lease. If Borrower acquir�s fr.e ade to the Property,the Ieasehold and the fee title shall
<br /> not merge unl�ss Lender agrees to ihe merger in writing.
<br /> 7.Protertion oE li,ender's Reghts in t�ae Pro}serQy. If i3orrower fails to perform the covenants and agreements contained in
<br /> this Securiry Inswment, or therc is a legal proeeeding tfiat may signifcandy �ffe.�t I.ender's rights in the Praperty {such as a
<br /> proceeding in bankrup�cy,probate, for z�nd�cnnation or farfeiture or to enfon:e laws or regulatians),then Lender may do and pay
<br /> for whateves is necessary to grooc�t the value of the Property and L.ender's rights in the Property. Len��'s actior�s may include
<br /> paying any sums secured by a lien which has priority, over this Security Inswment, appearii:o in court, payir_o reasonable
<br /> auorneys' fees a��d entering on the Property to make repairs. Although Lender may take action under this paragra�th 7, Ler��
<br /> does not have to do so.
<br /> ;4ny amounts disbursesi by Lender under this paragraph 7 shatl becorne additional debt of Borrower sectnred by th�s Sec�rity
<br /> Instrument� Unle,ss B�rrower and Lender sgree to other terms of gaymerat, ihese amaunts shall b�ar int,erest from the date of
<br /> disbursement at the Note rate and shall be payable,with interest,upon natir,�frs�zn Lender tn Bormwer reqaesting payme�n�
<br /> �.P:�I�rigage Insurance. If Ltnder required mortgage insurance as a con�ition of making the loan secured by this Security
<br /> Instaument, Borrower shall pay the premiums ;r,qaired to maintain the rrmnrtgage insurance in effecG If, for any reason, the
<br /> mortgage insurance coveiage rsquired by Lender lapses or ceases �a be in effect, Botrowcr shall pay the psemiums raquired to
<br /> obtain coverage substantially equivalent to the mortgage insurance greviously in effect, at a cost substanually e�uivalens or, the
<br /> cost ta Borrower of the mortgage insurance previously in effect, froen an alternate murtgage insurer approved by Lenc"ler. If
<br /> substar.tially f quivalent mortgage insuranGe co�erage is not available, Brnmwer shal➢ gay to L.ender e�h month a scur► equaZ to
<br /> one-twetfth o: the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or cessed to
<br /> bs ic� effe�t Lenuer will a�cccept, use and retain t,t�esc payments as a 1QSS reserve in lieu of mortgage insurance. Loss resen+e
<br /> Farm 3028 9/90
<br /> � -&R(HE)isz�x) asps3ate �nniai.:--
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