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<br /> 5. il�uc�i or H'opert) la�uraucr. l3urruw•e�� .lull i,ecp thc in�:uti•cn�:nts nc�w cxisting �•r h�:rea :r ere•:t� cu� tF�: m
<br /> Pr�.�xrty insur��i a�aiast l�n�hy fire, hatrrdr incluJeJ w•ithin the tertn "exterwluJ cu�era,ge" Lt�d an> otF•:r hrt:u'ds. ir�:lwii'� �
<br /> flixxfs or flu�xliuc. fur which l.erxkr rtquins insura�uc. This in�ur:tr�shall t+c ma�nwin;xl in chc:uix�unts vxi far tiv;pericvJs _
<br /> ttut L�:iwkr requir.s. 'I'Fr. i�uurane� ��uricr pn��•idin� the in.cur�nce ctwfl he chc�.�en by&�:rower subj�Yt t��I.�iuk�'s:y.+{�ro�•�1
<br /> Whirh �hall ►wu 1x: uiu�..'i�ul'ibl� witiiluld. If &�rrow�r f�ilc tu nuiut�in ruceraFc dcscritxtil 2txx•e. Lcixlcr �►ti}•. �t [,e�;�r's =
<br /> a{xiun,i�k+laiu�«verage to pr.uert l.:iui;t'a ri�.hts in the Prc��x;ny i��ue.vx.iaixc w�ien para�ra}�h !. F
<br /> All in�uraik�policics un1 n.ncu•als sfull be ac�eptaNle eo [.etxler an►t�tull includc a.t:stxl:trd siV�rtBaFe cl�u-k. �'=��r c_
<br /> shail havc thc right w hatu ti�pulicies un.i r��wa{s. ZF L.cn�er requires, Borrowrr chall pramptly gi�•e tu Lcrxler all r�eceipe.ti of �__
<br /> paid prcmiunu ancl renewul notices. in thc cti•cnt of lass,R�umw•er ShaU gi�•e ptnmpt ixuicc ta the i�uur.ux:c car�'ier•rrxl l.:tx3ct. -
<br /> Lendcr n�ay make pmaf af lass if not n�ie prom�tl��by lioirowcr. =�`
<br /> Unle�l.encicr and Bormw•cr otfurwise:►grec in w�riting.insur,uxti:proceeds shall be�pplied ta restaration os npais of itc __,
<br /> Property ci�rnaged,if the restor:,tion or repair is econc�micaliy feasible and Lender's security is nc�t lessened•If tiu resto7;ti�m oc
<br /> repzir is not economic�ill}�fca.eibie os I.ender's security would be lecae�xd. the insurance prcxceds shall bc a�plieci to tt�:cw.�
<br /> secured by this Security� Inctcument, whether or nat then due, with any excess paid to Borrouer. If Bonovrer aharule.r.:: tF�;
<br /> Prc�perty, or does not ansa•er w•ithin 30 da��s a notice from Lender that the inwrance carrier I�s offered tu scttl.a claicr_,t�:n
<br /> t,ender may collect the insurance procecd�. Lender rnay use the pro�eeds to repair or reswPe the Propert) oz ea Pay swns
<br /> securcxi by this Sc.�curitp Instrument,w•lu�tll:r or not then due.The 30-day period wiU begin when the notice is givea.
<br /> Unless l.tndcr and Borrowcr otk�;nvise agree in writing, any application uf prceeeds to principal shult. iu�t exlznd or
<br /> postpone the dv�;datc oi the monch?p paymenu referred to in paragaphs 1 and 2 0:change the a�nount of �l:u ►�,�yttyents, if
<br /> under par.tgraph 21 tl�Prap�.n} is acquired by Lender, Borrow�er's right to any insurance pe�licies und prc�ceedv rmculting fmw�
<br /> dan�age to the Praperty prior ta the acyuisition s�hall pass to Lender to the extent of tlie sums securod by ihis 5�xur.ev Inuniw��:
<br /> i►runediately prior ta the acqu+sitian.
<br /> 6.Occupa.pcy�, Presenatiow MainLenswcr s�xi Fnatecttan of the Property:BorroK•er's Lo+w.�icatioa; I.es�tie�.
<br /> Borrower shall occupy,euabli�h.�use iM�'ropertt as Borrower's principal nes'sdence within siary days after the e.recution of
<br /> this S��curity Instrumeat�3 s1w16 cuntinue to occupy tt►�Propercy�Borrower's principal residet�far at ie��oue year aRer
<br /> the d�ce of occu�ruy, unless L�cr otherwise agrees in writing,which consent shall not br, unreasonab�y w 9thb:-'3•ur unlcss
<br /> extenuating cir�mstances exist whieh are beyond Borrower's rnntrol. Bonower shall iwt clesuuv. dantag� or impaic the
<br /> Property, altovc the Praperty to dete:iorate, or conUnit w3ste on the Property. Borrower shall bti. in default if any forf'eiiu�
<br /> action or proccxding, whether�ivil or crinunal, is begun tiiat in i,er►der's good faith judgment ooutd result in forfeiture of th.;
<br /> Property or othenvisc m3eeria1ly'impair the lien created by this Security Instrument or Lender's security interest•Barrower rnzp
<br /> cure such a defau!t ud miastztr,as provided in paragraph 13,by rausing the action or proceeding to be dismissad wiW a ruling
<br /> that, in Lendcr's good f�ieh determinztion, precludes forfeitute of the 8nrrower s interest in�he Froperty or otl�er m�terial
<br /> impaimient of:he lien created by this Security instrumer.t or l.end�r's security interest. BorroW�e:shall also be in defwlt nf
<br /> Borrower,during tM laan applicatioo proezss,gave mater+ally false ar inaccurate infomiation or st�nu ta i.e►Kkr(or faileaJ
<br /> ta pmvide L�et►der witlh an}�n�c�ri3F infurantion)in conn�ciion with the loan evidenee�by the 1�otP.�ncludinS.bui n�t limite3
<br /> �p�represeptations coxeeni,a�6rrroWei s occupancy of the Propeny as a principal rosid�nce. If this Stcurit�•insuument is on a
<br /> „,�:�M,:;: °;,.-:�•a:.z sh::l:-��i; �!h aq �h' ,,mvicionc �f tlu lezse. If�iorrower acquires f� tidc to th: g'roperty. the . .. _
<br /> {tasehoid arwi thc fee titl:shall not merge unless Lencier agc�xs to the mz.ger in writit�. .
<br /> 7.Protectioa of I.ender's Rights in the Property.ff Borrower fails to perform the coves�an;s and agreements conts�inal in
<br /> this Securitp Irstrurncnt, c�r there is a legal proceeding that may signi6catuly affect Lencier's aghts ice the Property(such as a
<br /> proeoedi�g in barilc�,v�uty. ptobate, for oonder�uiation or forfeiture or to enforce laws or regulationc). then Lender may do at�
<br /> paY for whutever is�ntce.ssary to protxt the value of the Property and Lender's rights in the Praperty. Lender's actioas may
<br /> include payiag any.sums securecl by a lien which h�c priority over this Secwiry Inct�umeut. appearing in cairt, paYin4
<br /> reaconabte ztt,�rneys+ fees and entering on the Ptoperty to make repairs. Although I.�nder may tak.e aciion under this par�graph
<br /> 7,lr.ade�does not�sve to do so.
<br /> Any amuw�s disburu�d by Lender under this p�ragropt► 7 shall become addidonal debt of Borrowu serured by atais
<br /> Sc�airit}Irstrumsnt.Unitss B.�r�ow�er at�d Lxnder agree to other temtc of papment. these ansouttts s1'�11 bear in:.�est from th:
<br /> date of di�iwrsement ai the Note ratc�nd shaA be Payable, with intcrest. upon aotice from L,eacr W Bonn'�'er toquestin,�;
<br /> PaYmcnt.
<br /> 8.Moet�age Insuraoce.If l.erider raquired martgage insurance as a condition of making the loan secured by this Sewrity
<br /> Ii�cnc� gorrowa shall pay the presniumc required to maint�in the mongage insurance in effect. if, for any reason, the
<br /> morty�e inLUCance oaverage�quired by Lender lapses or cea5es to be in effxs.Boirower shall pry the Premiums requirod to
<br /> obtaia coverage substantially equivalent to the mortgage insurar�ce previously in effect. ai a cost substantially equivaleni to the
<br /> cost to Sarnnwer of the mortgage in5uranaa previously in effect, from an altemate martgage insurer approved by Lender. if
<br /> sub,santially equivalent mortgage inwranoe coverage is not available,Borrower shall pay to Lea�er each moatl�a sum�qu�t to
<br /> ane-twetfth of the yearly mortgage insurance premium being paid by Borrower when the inswance coverage lapsed or ceaud to
<br /> bc in.aff�ce.Lender will acoept,use and retain these payments as a loss reserve in lieu of mortgage i�surana. Loss reserve
<br /> Forss 3028 9.'90
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