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<br /> �- �� S. Hf�zard or Property I��surance. 13orro�ver shall kecp thc improvcmcnts nuw cxisting nn c�rradtcr crccted on the
<br /> .' . ;� Property insured a,sainst loss by fire, h�uards included within the term "extended coveragc" and uny uiher huzurds, including
<br /> „ tloods or flooding, far wbich L.ender requires insur:�nce. This insurance shall br maintained in thc aniuuntti and tirr the periods
<br /> , lhat l.cnder requires. Thc insurancc carcier provfding thc insurancc shull be rhnscn by Borrowc� +ubjcct ta�Lcndcr's approv;d .
<br /> .,., which shall not bc unreasonably withheld. If Horrower fails io maintain covcruge dcsrribed ahovc, l.cndcr muy, ot Lcnder'+
<br /> � ` ..� option,obtain cuve�agr lu prutcct L.�:ndcr's rights in thc Proper[y in accordance wuh pur�gruph 7. -
<br /> �'•�%""� All insurance policies and renewals shuU be acceptable to I.ender and shull include a standard rnortgage cluusc. L.ender -
<br /> � ` shall have thc right to hald the policies and renewuls.If Lender reyuires,Borrower shall prompdy give io Lendcr all reccipts of
<br /> ��• . � paid premiums tu�d renewal notices. In the cvent of loss, Iiorrower shaU give prompt notice to the insurance carcier and Lender.
<br /> � ,�'� Lender may make pmaf of loss if not made prornpdy by Borrower. �
<br /> ' Unless Lender and Borro�ver otherwise agree in writing, insurancc procccds shall be applied to restoration or repuir of the
<br /> �-• ,j � Property dam�ged. if the restoration or repair is ecor►omically feasible and Lender's security is not lessened. If the restoration or
<br /> � � repair is not economically feasible or Lender's security would be lcsscned, the in,urance proceeds shall be applied to thc sums
<br />`'`��;�, -'f�.� secured by this Security Instrument. whether or not then due, with any excess paid to Bonower. [f Horrower abundans the
<br />`��'�':'• `"'�� � Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle u claim, then
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<br />"��_ °;.��� L.ender may collect the insurance praceeds. I..ender may use the proceeds to repair �r restore the Propeny or to pay sums
<br /> -���"='`•" secured by this Security Instromznt, whether or not then duc. The 30-day period will begin when the notice is given,
<br /> "��::�'"`�'�-�'� Unless Lender and Borrower othenvise agree in writing, any application of proceeds to principal shall not extend or
<br />- • •�"r:
<br /> ., postpone the due date of the monthly paymcnts rcferted to in parngraphs 1 and 2 or change the amount of the pxyments. If
<br /> --n,E,��; under paragraph 21 the Property is acquired by L.ender, Borrower's night tu uny insurance policies and proceeds resulting from
<br /> _-'"'''."ti►' damage to the Propeny prior to the acquisition shall bass to Lender to thc extent of the sums secured by this Security Instrument
<br /> --'=�.�� immediately prior to the acquisition.
<br /> -=�����„��� 6.Occupancy� Preservation,Mnintenance unu7 Protection of the Property; Borrower's Loan Applicatton;Lc;useholds.
<br /> -�',� Sorrower shall occupy,estublish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> -__,-:_��.— this SECUrity Instrument und shull continue to occupy the Property as Borzower's principal residence for at Ieast one year after
<br /> Y�;M�� the date of occupancy, unless Lender atherwise agrees in writing, which consent shall not be unrc;asonably withheld, or unless
<br />—;�.;_;:;:!�„c�l;� extenuating circumstances exist whieh are beyond Borrower's control, Borcower shall not destroy, dama�� �r imnair r�,P
<br /> _,;,,,r��,—� Property, ullow the Property to deteriorate, or comrnit wa,te on the Propeny. Borrower shall be in dcfault if any forfeiture
<br /> �����`a�ari�! action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
<br />- A"''T-Si�� Pro rt ot otherwisc materiall
<br /> -_;tr,�,;,.�`� pa y y impair the lien created by this Security Instrument or Lender's securiry interest. Borrower may
<br /> -�_...s�... _ cure such a default and reinstate,as provided in para�raph I8,by causing the action or proceeding to be dismissed with a ruling
<br /> -° that, in Lender's good faith determination. pre.cludes forfeiture of the Burrower's interest in the Property or other material
<br /> ------�— impairment of the lien created by this Security instrument or Lender's security interest. Borrower shall also be in defnult if
<br /> . Borrower.during the loan application process,gave rnaterially false or inaccurate information ar statements to Lender(or failed
<br /> ° °-=- to provide Lender�vith any material information)in connection with the loan evidenced by the Note,including, but not limited �
<br /> �� to,representations coneeming Borrower's occupaney of the Propeny as a principal residence. If this Security Instrument is on n
<br /> Icasehold. Horcower shall con►ply with all the provisions of the le��.se. If Borrower acquires fee title to the Property, the ,
<br /> Ieasehold and thc fee title shall not mergc unless Lender a�rees to the merger in v�rit9ng.
<br /> • 7.�rotoctton of I.ender's Rlgl�ts an the Property.lf Borrower fails to perform the covenants and agreements contained in
<br /> . this Security Instrument, or there is a legal proceeding that may signiticantly affect Lender's rights in the Property(such as a
<br /> proceeding in bankruptcy, probate, for condemnatio�or forfeiture or to enforce laws or regulations),thcn Lender may do and
<br /> pay for whatever is necessary to protect thc value of ihe Property and Lendcr's rights in the Prapeny.Lendcr's actions muy
<br /> _ . include paying any sums secured by a lien which has priority over this Security Instrument, appearin� in court, paying
<br /> --- ��sonablc attorneys' fees and entering on the Property to makc repairs. Although Ixndcr may take action undcr this par�graph
<br /> --- - -"- 7, Lcnder does not have to do so.
<br /> _ Any amuunts disbursed by Lender under this par�graph 7 shall become additional debt of Borrower secured by tliis
<br /> --°-� Security Instrument. IJnless Borrower and Lendcr agree to other terms of payrnent,these amounts shul l bear interest from the
<br /> date of disbursement at the Notc rate and shall be payxble, with interest, upon notice from Lcnder to Bonowcr requesting
<br /> payment.
<br /> :- 8.Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured by this Securiry -
<br /> — -- Instrument, Borrower shall pay the prcmiums required ro maintain tl�e mortgage insurancc in cffcct. If, for any reason, the �
<br /> =_�� mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums requireci to
<br /> _� '��r'� obtain covernge substantially cquivalcnt to the mortgagc insurance prcviously in effect, at a cost subsiantially equivalcnt to the
<br /> _T�;�:�'." cost to IIorrower of the mortgage insurance previously in effcct, from an alternatc mortgage insurcr approved by Lender. If
<br /> m;.•�;�-.`� substantial ly equivulent mortgagc insurance covcrage is not available.Bonower shall pay to L.ender each montli a sum equal to -
<br /> -_'�-�-. one-twclftt�of the carl mort a e insurnncc remium bcin --
<br /> ,�.,,; Y Y S € p g paid by Borrower whcn the insurance coveragc lapsed or ceased to
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<br /> � be in effect.L.cnder will acw�+t, use and retain thesc payments as n loss mserve in lieu of mortgagc insurance. Loss rescrvc
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<br /> -'-'?w'�t,;::. Form 3028 8/90 —
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