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<br /> 9f�- �,d�.'70'�
<br /> 5. �inv_��•d or FT�•o�:�rty 6�suen�►r.e. Fj017UWC1' tiIl'.III ItL'L'�7 IIIC improvcments now cxistin� un c�rcuQcr crectcJ on the �
<br /> Property insured egain�t loss by firc, h;raards includccl widiin dic tcr:n "cxtended cuvcr��gc" and any other ha�.��rds, incluJing
<br />. floeds or lloodino, for�vhich l.ender requires insurance. This insurnnee shall U�rnaiietai��ed in the aniounts and for the periods
<br /> that L.�nder requires. The insurnnce carrier pr�viding thc insuranec shull he chusen by 8orrower subject ta Lender's approval
<br /> which shall not be um�easonnbly withheld. If Borrower fails to m�intuin cavcragc descri�ed ahove, l.�nder may, at Lcnder's
<br /> option,ob¢ain coverage to protect L.ender'S rigttts in the Yrnperty in accordance with pa��agraph 7.
<br /> All iasura�►ce pulicies und renewuls shall be acceptaUlc tu [xndeY�u►�l.httll iurluJe u ,tu�idiud mu��tgage clau,a I.�;nJcr �-
<br /> shall havc thc right to hold the policics and rr:ncwuls.If l.endcr requires,Borrower shnll prompdy give to[.endcr all receipts of
<br /> paid p*emiums and renewal notices.In the cvent of loss, 8orrower shul!give prampt noticc to thc insurancc carrier unJ l.cnder.
<br /> l.enct�r may mnkc pro4f of loss if not made promptly by Borrowcr.
<br />, Unless[.endcr and Borrowcr othcnvisc agrcc in writinli, insurunce procecds shull bc applicd to restoration ur repair uf d►c _
<br /> Property dmm�ged, if the restoratiun or repair is economicully fe;�sible and Lensler's security is nut Ies�;ened. [f the restorutian nr
<br /> repair is not economirdly feasible or I,ender's�ecuri�y woulJ be Icsseiied, tlie iusur�uice pra:euls shull bc uppli��1 t��thc sunis —
<br /> sccured by this Sccurity Instrumcnt, �vhether ar not thcn �lue, with iuiy exccss paid to Aorrower. If tiorrnwer nh.iud�ms the
<br /> P�•operiy, or docs not miswer witl�in 3Q dtrys u noticc Prrnn l.cudcr thnl tho insueancc a�rrlcr hny offcrcd to setUc n rlidm, Ihcn
<br /> [.ender may cnllect die intiuranee pri�rccds, L.ender muy uye lhe pmcecds to re�air or restnre the Prnpeny nr ro puy sumv
<br /> sccured by this Sccuriry Intitrumcnt,�vhcthcr ui�not thcn duc. Thc 30•diiy peri�xl �vlll hcgln whcn thc noticc Es glvcu,
<br /> Uiilcss l.cndcr imd Horru�vcr nthcrwisc ngrcc In wrlting, uny iipplfriitlon of praccedti �o priiicipal sl�idl nut cxlcnd ��r
<br /> pact�x�nc the duc d�tc i�{'thc mnnthly �iayoicnts refcrred ti► in puriigruphs 1 nnd 2 or chssngc thc iimount of thc paym�ntx. If
<br /> undcr parngrnph 21 thc Property is iuquircd by l.cnder, Borrowcr's rlght to any fnsurcmcc�licics imd pracculs resuldng f'rum
<br /> dunmgc to the Property prior to thc acquisition shnll pass to L.cnder to thc cxtcnt of thc sums secured by Uiis Securiry Instrumcnt
<br /> immedlatcly prlor to thc ucyuisition. _
<br /> 6. Occupw�tcy, Preservation, Maintenanee and Pratectlon uY the Property;Borrower's Loun AppL(cutton;I.euseholcl�,
<br /> Bc�rrower shall occupy,estnblish,and use th�Aroperty as Borro�ver's principal residence within sixty days after the exec:ution of
<br /> thia Secu�lty Inslrument and shnll continue to accupy the Property as Borcower's principal residence fur at Ieast one yettr ufter
<br /> the date of occupAncy,unless Lender otherwise a�rees in writing, whzch consent shull not be unreasonably wtthl�eld, or unless
<br /> extenuating circumstances exist which are beyond Bonnwer's control. Borrower shall not destroy, damuge or impair the
<br /> Property, allow thc Pcaperty to deterioratc, or rnmmit wustc on the Property. Borrower shall be in default if any forfciture
<br /> action or proccedinR, whether civil or criminal,is begun that in Lender's goocl faitli judgment could result in forfeiture of the
<br /> Property ur othenvise materially irnpair the lien created by this Security Instrumcnt or Lender's security interest. Horrovrer may
<br /> cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with n ruiing
<br /> thut, in Lendor's good faith detcrmination, precludes forfeiture of thc Bonower's interest in the Propei7y or other materiAl
<br /> impairinent of the lien created by this Security InstNment or Lendcr's security interest. Bon•ower sh�ill afso be in defaalt if
<br /> Borrower,durin�the loan upplicution pracess,gnve materiaUy false or inaccurate information or statemonts to L.ender(or failed
<br /> to provide Lender with any materiai informatiun)in cannection with the loan evidenced by the Note, including, but not Ilmited
<br /> to, representattons concerning Bonower's occupancy of the Property as a principaA residence. If this Security Instrument is on n
<br /> leasefiold, Borrower shall comply with all the provisions of the Icase. If Borrower acquires fce title to the Property. the
<br /> leasct►old and the fee title s1ia11 not merge unless Lender Agrees to the merger in writinB.
<br /> ?.Protcction of I.ender's Rights In the P��operty.If Borrowcr fails to perforni the covenants and ngrcements contained in
<br /> this Security Instrument, or there is a legal proceeding thut may significantly affect Lender's rights in the Property (such as a
<br /> procxeding in bankniptcy, prob�te, for condemnatlon or forfeiture or to enforce luws or regulations). then Lender muy do and
<br />• pay for whatever is necessary to protect the vulue of the Propeny :u�d [.ender's ri�hts in the Property. I.ender's uctions may
<br /> include paying any sums secured by a lien which has priority over this Security lnstrument, appearing in court, paying
<br /> iuidviiuuic utiv�llGy�� iees ano etttering ui�ii�c rrupeny w maice rcpaits. r.'smaugn�.enaer may ta�ce aenon under this parngraph
<br />, 7.Lender dces nut have to do so. •
<br /> Rny umounts dishursed by Lender under this paragrnph 7 shall becomc udditinnal debt of Borrower secured by this
<br /> Security Instrumcnt. Unless Borro�ver and I..t:ndcr agree to othcr terms of pAymsnt, tlicsc ttmounts shall bear interest from the
<br /> � date of disbursement at tho Note rate and shnll be payable, with interest, upon noticc from I.ender to Borcower rr.questing
<br /> payment.
<br /> 8.Mortgege Insurt�nce. If i.ender required mortg�ge insurance as a condition of making the loan secured by this Security
<br /> Instrument. Borrower shall pay the premiums requircd to mninwin the mortgagc insurance in effect. 1f, for any reason, thc
<br /> mortgage insurance coveragc required by I.ender lapses or ceuses to be in effect, IIorrowcr shall pay the premiums required to
<br /> obtain coverngo subst�3ntially equivulent to the mortgage insurance previously in effect,at a cost substs+ntially equivalent to the
<br />� cast to Borrower of the mortgage insurance previously in eff'ect, from an alternate mortgage insurer approved by Lender. if
<br /> substantially u�uivulent mortgage insurance wvcrnge is not uvailablc,Borrower shall pay to Lender carh month a sum equal to
<br /> on�•twelfth of the yearly mongage insurance premium bein�paid by Borrower when the insuranee coverage-lapsed or ceased to
<br /> be in effect.Lendcr will xccept,use and retuin these paymentr as a loss reserve in lieu of mortgnge insurance. Loss reservc
<br />' Form 30�R 9/90
<br />. Vapa 3 ot 0 �
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