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<br /> __— — S. H�rd or Property lnsurance. Borrower shall keep the improvements naw exiaing or hereafter erccted on the
<br /> Pronerty insured uguinst loss by lire, haiurds Included wlthin the tertn"extetkiod coveruge'and uny other hazarda. including
<br /> ---- flaads or ilaxling,for whkh Lendcr rcquires inrurance.Thia insur�ncc Rhall be maintAined in thc mnounts and fc�r Ihe periods
<br /> "'� thut I.ender rcyuires. Thc insurancc ci�nicr pr���iding thc insurun�r shull tx�choscn by Borrowcr tiubjcct tii Lender'w approval
<br /> � which shall not be unreusonubly wi�hhcla. U't�►ROwer fuils to maintuin cover�ge desrrltx�d above, l.ender may. ut l.enrier's
<br /> _--___-- option,ubtuin cuver�gc to pro�c�t l.ciWcr's rightx in the Propetty in accorclance wi�h parngraph 7.
<br /> _=< - ---- --- ------ All insurance policies and renewals Siwll be aceeFwble to Lender tsnd shnll include a standtud mortgage clause. l.ender
<br /> �^•+ ahetl have the right to hold the policles and renewals.If L.ender requires,Borrower shcill prornptly give to L.ender all receipts of
<br /> ° puid premiums and renewal notices.In�he event af loss,Barrawer shall give prompt notice to the insurance a�rrier und l.ender.
<br /> i.ender may make proof of loss iF nat made pmmptly by Bc�rrower.
<br /> ��� Unless L.ender and Borrower cxhenvise agrce in writing,insurance proceeais shall be Applied to restara�ion ar�epair af the
<br /> ��,� Proparty damnged,if the restoration or repair is ecanc►mically fe�sible and Lender's secudty is nat lessened. if the restoration or
<br /> _. _.�� mpair is not economicnlly feasible o�Ltieder's security would be lessened. the insurance proceafs shall be applied to the sums _
<br /> �,��, secured by this Securhy Inst�umcnt. whether or not then due. with any excess pAid to Borrower. If Borrower abandons the
<br /> '�`�`'`��� - Property. or dces not nnswer within 30 days a notice fram Lender that the insumnce crirrier has offered to setde a claim,then
<br /> '�g`='—� i,ender may collect the insurnnce proceeds. Lender muy use the praceeds to repai� or restore the Property or to pay sums
<br /> �m��-,�� secured by this Security Ins�rument.whether or not then due.The 30-day period will begin when the notice is given.
<br /> ---- Unless I.ender atKi Borrower oti�envise agrce in writing. any application of proceeds to principal shall not exlend or
<br /> A ����;,. ,� postponc the due date of the monthly paymente referred to in parngraphs I und 2 or change the amount of the payme►Ns. If
<br /> � - �� � under paragraph 21 the Propeny�is ucquired by L.ender.Borrower's right to any insurance policies and proceeds resulting from -
<br /> -�. �`'��;!�".;;'"':._.
<br /> �'.�k..,,�':� damage to the Property prior to the acqufsitfon shnll pass to Lender to the extent of the sums secured by thia Security lnstrument
<br /> '�`y`'n��*`���" immediately prior ro the acquisitinn.
<br /> =�� � • • � ' � • b.Occupancy, !'reservation, MaiMenance and Protection oP the Property;Borrower's l.os►n Applicadon;Leaseholds.
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<br /> —.�`=��:`�'�'•'�'� Borrower shal!cecupy,esteblish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> --- ���'"�'•�"`"''" this Security InstNment and shall cantinue to cecupy the Property as Borrower's principal residence for at leust one year ufter -
<br /> � ""� the date of accu unc unless I.ender oth�rwise a rees in wrltin which consent shall not be unreasonabl withheld, or unless
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<br /> -- •r�° '� "`�° ' extenuAting circumstunces exis� which are beyond Borrower's control. Borrower shall nw destroy. damage or impair the
<br /> ��;'�y:�,.`� Property. allow thc Propeny to deteriarate,or commit was�c on the Property. Borrower shall be in default if any forfeiture
<br /> — �?�.�-� . -� , action or proceeding,whethercivil or crirninwl, is begun thet in Lender's good Puith judgment could result in fort'eiwre of the -
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<br /> ,. , -.,.,,.. : Praperty or otherwise materiolly impair the lien crented by this Security Instrument or I.ender's securlty interest. Borrower may
<br /> :.;Y�v7�:.�;:,�.�_ _ -
<br /> _ � . � „-,-- .�- curc aucn a defauii u�nl rciinialn,as pruviiial in puragrty�L 18,by��auning iitr aciiun or pnx-caling tu ix Jiamie��xi witi�a ruiiug
<br /> -"�"'='d�' �� that, in Lender's good fai�h determinalion, precludes forfeiture of the Borrower's interest in the Propeny or othcr mnterial
<br /> - - ,,:°y' � impairment of the licn created by this Security Instrument or I.ender's security interest. Borrower shall also be in default if
<br /> �'`" "�� �� Hurruwer,during the loan application process,gave materially fAlse or inuccumte inFornwtion or statemeMs to Lender(or failed
<br /> � � ''s`s`� ~ to provide Lender with uny n�aterial information)in connection with the los�n evidenced by the Note, including,but not I�mited
<br /> `�� � ��,t;;��..-_. -�.-.
<br /> '� h�4 to,representations concarning Borcower's occupancy of�he Propeny as a principal residence.If this Security Instrument is on a
<br /> _ �..� •
<br /> �.� *%��'�""'�'."'" IcASehold. Borrower shall comply with ull the provisions of the lease. If BoRawcr acquires fee title to the Property, the
<br /> __ leasehold and thc fee dde shull not merRe unless I.ender ugrces to thc mergcr in writing. �
<br /> �� . . ..._°� ��;r, � 7.Protection of Lender's Rights In the Property.lf Borrower fails to perforni the covenants and agrecments contained in
<br /> � • ' •• ° this Securiry Instrument, or there is a legal proceeJing that may significandy affect Lender'�rights in the Property (such as a _
<br />— ,- ° �°-�' �� proceeding in bankruptcy,proba�e. Pi�r cundemnation or forfeiwre or to enforce luws or regulutions), then I.ender muy do and
<br /> '!�� ^�- - pay for whatever is nocessury tu protect the vnlue of the Prapeny and Lender's rights in the Property. Letuler's actions may -
<br /> - "' ' ' include payfng any sums sccurcd by a lien w•hich has pri��rity over this Security In.rtrument, appearing in court, paying -
<br /> 'a. ' reasonuble uttorneys'fees and entering on the Property to makc repairs.Althou�h Lender muy take uction under this purngraph -
<br /> .��' �.'-f,-'`"c-- � 7.C.endcr does not havc to do so. -
<br /> ° Any umounts disbursed by C.ender unJer this parugraph 7 shull becnme udditionul debt of Bc>rmwer secured by this __
<br /> _, _
<br /> • �- Security Instrument. Unless Bom�wer nnd Lender ogrec�o othcr tcrmti of payinem, thcse amounts shall bear inrerest from the -
<br /> ' ^ dute of disburscment at tlic Note rate and sbull be puyable. with interest, upon nutice from l.ender to Borrower requesting
<br /> � . payment.
<br /> ��? , ,��" � � S.Mottgage Insurance.lf L.cnder requirc�d nwrtg•rgc insurnnce ati a conJition of muking the loan secured by this Security
<br /> � " Instrument, Borrower shall puy thc prcmiums reyuircd w mainwin the mongaFe insurancc in cffect. If, for any reason, the
<br /> " ' �"''�`''Y"`�� � ` mort a e insurunce covera c. re uired b l.ender In sts or ceases t��be in efl'c��,H�►rmwcr �hall a thc rcmiums rc uin�i to
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<br /> °„�-,�;,.•.: ' obtain cuveroge subs�antiully equiv�lent tc�the mongugc insurance previou.ly in effrct, ut u co.t substuntiully eyuivalent to the
<br /> a , cost tu Borrower of tl�e nwrtguge insumnce previiwsly in effect, from an ahrrn:itc mongage intiurer approved by Lender. If
<br /> . . "r . substaMially equivnl�nt mnAguge in�ur�ncr ruveruge i� M►t availablr, Rnrr�i�vrr+hall rap t�� Lrnder rach m�mth a sum equal to _
<br /> � . .; d• one-twelfth of the yeUrly nxirtgage insuronce premium heing paiJ by &irrower when thr insurancr coveruFe lapsed ur ce�sed to _
<br /> u � ,, be in et'fect.L.ender will accept,use nnd retuin these payments ns u loss reticn�e in licu of mortgu�e insuruncc. Loss reserve -
<br /> • Form 3028 8/90 �
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