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<br /> 5. tla�rd or !'to{xrty IuiwrFaea. Rurruwer �1�1t �c.,� ttk im�ro�•at�r.ts naw eri�ting �r he eroctoJ ��n tlu
<br /> rt�a
<br /> Pn�erty i��ural:��uiut loss by firt,ha:3rcls includal wi�hin tht term "exttixSa.1 ru�erage" and pny ottrer h�sr�is, incluciir►1
<br /> floaeis a�flaxlic�. for which Le�xltr rec{uires insur.�r�ee.Thi�i��.+ut�+ke st�sii be�nuntaiiud iu the enxwnte anci f��r thr periais
<br /> thac l,ende�royuircs. '!'he insurwxe curier p�i�v;eiii�! the i!►.wr;utice shall be chosen by &�n�ower wbj�rt t��Lendec�ti�1fOYlI
<br /> which s1w11 �xx t+r unrcasiu►�hly v►ithhetcl. If Rotrow•cr fails ca m.►i�nzin��o�•eraRe desiribed s�ve, L.cnder may, ut l.eader's
<br /> ��tion.ubtain rin•�rage to prc�te.t t.e�xfer's ri�,hts in�hr Rv�x��y i�i w;eo:d:�rti:�wish p.er��ngh 7_ -
<br /> AI! inw�ynet �airiec�d ren.:wais siull be xceptahk ta l.�nder wx! shall includc a stanci:ud mortg�e clause. :.ender
<br /> si�al�tu�e th�right to hutcf tt��wlicies acxl renewals. If[.endcr requires.Bort�wcr ch:tll pratt�tl�Fit•e to E.etxkr alt rcti'ei{xs of
<br /> p;.id p:�s�uunu:u�.�t renew�l nc�tic�. in the���nt af loss.�rrow�er shall �i�•e proa�pt txuire to the ii�:.urance carrier anJ Le�bier.
<br /> Lender may nuke ptoc�f of loss iF�x�t made promptly by Borrow'er.
<br /> U��less lx�ec and Borrow•cr utheiwisz:�m�in writing.insurarue pra'eeds.1�11 t+e applicd w rcator�tion cu repair of th,t
<br /> propeny dv��ecl,if the mstoraticui or repair is econonucally feasible aird Lender's security is not Icssened. if the restori:ion ar
<br /> repair is�xx crononucally fcasible or Lender's security w�ould be lessen�d,the insurance prococds shall be applicd to the wms
<br /> secumi by this Sacurity lnun:�neat,w•hether or �t then due, with any excess paid to Borrow•er. lf &urower abar�dons the
<br /> ProQeny,or does :at uuw�er within 30 days a natice from l.eix3er that Yhe�nsurance carrier has offerecl tu settk a claim, then
<br /> Lernier m�y eollect the insur.�nce pmc�ds• l.ender n�aY use the P�� �o repair or restore the Propeny or to �'ay sums
<br /> securtd by this Securiry Instrua�ent. uhettur ar not then due.The 30-day peri�d will begin when the nwice is gfiveh.
<br /> U�ilecs Lender and Burrou•er otherwise agrec in writing, any apPlic:►tion of proceeds to principai shall txx exteiul ar
<br /> postpone the due date af�ie monthly paym^.nu refcrrcd to in paragraphs 1 and 2 or ch3r►ge the umount of the p�yn�ents. If
<br /> under paragrsph 21 the PropeRy �s acGuirul by L.ender,Bonawer's right to any insurance pc�licies and procc�i�►ti:.wlcing from
<br /> damage to the Propzrty prior to the acquisition shaU pa.cs to I.erider to the extent of the sumti secured by this Security Instrument
<br /> icnniedi�tely prior to the acquisition.
<br /> 6.Occup�ocy.Preservs►tiou,btaiatenaace s�nd Proteciton ot the H�opertY;Bonbw•er's I.osw Applicutioa:Leasebdds•
<br /> Borrower sha11 occupy, euablish.Slld USC lI1C P(OpCliy S.i�0130W2i's prittcipal te.eidence within siKty days after ehe exxulion of
<br /> this Securiiy instrument and s1�a11 continue to occupy the Propert��zc Bortower's principal residenoe for at least w�e year after
<br /> the datz of occupancY, unless l.ender otheawise agcre�in writing.which mnse�u sha11 not be unreasunably withheld.or usltss
<br /> ext:,�wating circumuan�::s exiu whieh are beyond Borrower's conuol. Bo�wer shall not desltoy, damage or impais the
<br />� property, allow the Property to dettriorate, or commit waste oa the Property. Botrower shill be in defsult if any forfeiture
<br />, xtion or procealing. whether civil ar criminal, is begun that in Lender's good faith judgme�u could result in forfeiture of the
<br /> ?rope�cy or otherwise materially impair the lien created by this S�vrity Inctrument or Lerwler's security inuresi.Borrower may
<br /> cure such a default a��d reinstate.as provided in par.�zc�ph 18.by causing the action ur prceeeding to be dismis.ud with a ruling
<br /> that, in Lender s good faith determinatian. precl¢des forfeitur: of the Borrower s interest in the Property or uther m�►terial
<br /> . impairtnent of the 1'un created by this Security I�utnunent or Lender's security interest. Bacrower s1�11 also be in det:rult if
<br /> Borrower,during the toan application Process,gave materially E�Ise or in�ecurate informativice or statements to Lender(oc'£seilal
<br /> , to providC Lendrr with aay material information)in connection with the loan evidet�ced by tt�e Note, including.but not limited
<br /> to,rcpresentations conceming Borrower's occupac�y�of the Property as a principal residence.if this Security Inst�vment is on a
<br /> �eas�Oid� Borro�,u s1�1� �mp1y with al� the p�ovisions of the lease. If Borcower acquires fee tide to the Property. the
<br /> i. Ie�eM�ld wd the fee tide shall not mnge nnless Lender agrees to the merger in writing.
<br /> i 'f.�i�8C�0 O�l.l�[S�9�]�ti�.S!D�}IC�1^O+�C7'�.If Bonn�rer faits to per�orm ti�e oovenanis aiu agiec�,-.�;�c:»:r.�ia� -
<br /> _. this Securiry Inuivmefu.or there is a legal proceaiing that may signif cantly affect Lender's rights in the Propecty (stt��e as a
<br /> ;� proceeding ia banfctuptcy,probue. for cotxlemnation or forfeiture or to enforce laws or regulations), then lxnder maY do a�
<br /> ► pay for wt�ttver is neceuary to psntect the value of the Property and 1.endtr's tights in the Property- F.ender's actions may
<br /> �: include paying any sumc securod by a lien which has priocic� over this Seeurity I�uqument, sPPearin8 in rnurt. p�Y�ng
<br /> . reacoi►zbte attorneys'fces and auerir.�on the Property to ma3ce npairs.Alttwugh L,ender�ay take actiou undor this pus�^Taph
<br /> • 7,I.ender does not have to do so.
<br /> : My amounts dishursed by i.ender under this ParaBraph 7 shall beco¢� additional dcat of Borrower secured by this
<br /> Sec�rity inswment. Untess Borraaer aad L.ender agree to othcr terrtu of p3}meat. these a�taunts sh�ll bear interest from the
<br /> dste of disburx�xtu at the 1�tote reu� at�d st�all be payab{e, with inieract. �pon notice from itnder to Borrowu requesiia8
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<br /> . g,Mwtg,�ge Iusur�uoe.If I..ender required rt►ottgage itustaoce as a condicion oi maScir►g��ioo+-��::�rr�bi ttsis Secusit3'
<br /> Inxtrumer,t, Borrower shall p�y the premiumc required to cnsintain the mortgage incura��►ce in effect. If, far any reason. the
<br /> mortgage ituu�suyce coverage required by Lender lapses or ceases to be in etifect.Borrowex sha11 PaY �P����9��tO
<br /> dxtin rnverage substanti�l�Y e9uivalent to ttu mortgage insur.u�ce previousfy in effect.at a cost sabstanti�lly equivalent to thc
<br /> cost to�wrower of the mortgage insurance previously in effect, from an �lternate mort�age inwrer approved by L�der. If
<br /> substantially oquivaleat mortgage inwrance coverage is not avaiisbte. BoROwer shall pay to Lender each month a w�a equal to
<br /> one•twelfth of the yearly rt�rtgage iawrance premium being paid by Bortower whu�the insurmce c:overage lapsed or oe�sal to
<br /> be in effecc.Lender will�t.use and ret�in taese payments as a loss resene in lieu of martgsge insurar►oe. Loss reserve
<br /> fam 3028 9/90
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