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<br /> � 5. Hazard or Pra�xrty Insure�.�. Battowcr shull kecp thc improvements n... existing an c�rcnfter crectec! on the �
<br /> � � Property insured against loss by fire, hcizarcls included within the term "catended caveru�e'and any nther hn•r.�rds, including �
<br /> flnods c�r flnoding, for which Lcndcr rcquirc,insurAncc. Thiy insuruncc.huil bc muintuincci in thc umoun[s und fur thc periods � ��
<br /> '• thut Iw�ndcr rcquircx. Thc intiurancc carricr pmviding thc insurancc shull bc rhascn hy Burrowcr�ubjcct cc� Lendcr's upprovul � `_
<br /> � which tihull not be unreau�nubly withheld. If aorr��wer fuilti to muintain coveruge descrilsed abi�ve, Lr.ndcr muy, ut L.ender's � �
<br /> optiim,abtain covcragc to prutcct IAndcr's rights in thc Prupeny in uccurdancc with puragr:�ph 7. � _-
<br /> All insurunee policies und renewa�lx tihall be ucceptable to I.snder anJ shull include a stundard mortguge eluuse. Lender _„
<br /> •� - shull huvc thc right ta hulA the policies und renewals. If i.cnder requires, Aorrower shull pron�ptly give tu l.endcr all reccipts of � _
<br /> puiJ prcmiumti ana renewal nnticcs. !n the rvem ��f I�s�, A��rr��wer shnll give prompt notice to the insuranee carrier und Lender. �,.-
<br /> •-:>.1� Lcndcr muy nmke proof of luss if not mudc prompAy by Borrowcr. _
<br /> . ���� Unless Lender und Borrower otherwisc ugrce in writing, insurancc proreeds shull be upplied ro restoration or rcpuir of the =_
<br /> Property damuged,if the mstoratiun or repuir is economically feusible and l.cnder's,ecurity is not Iessened.[f the restoration or
<br />� repair is not economicul ly featiible��r L.ender's sccurity wauld be lessened,the insurunce praeeds sh:�ll be upplied to thc sums
<br /> xccured by this Sccurity Instrument, whethcr or not then duc, with uny excess puid ta Borrowcr. If�orrower abundons the =-
<br /> ' Property, ar dacs not ans�ver wittiin 30 days n notice from Lender thut the insutuncc carrier has affered to settle n claim, then �_—
<br /> = � :` L.ender may collect the insurnnce procee.�is. L.ender may use the procceds ta repair or reswre the Pnopeny or to puy sums
<br /> , ,�: secured by this Security Instrument,whether or not then due.The 30-duy periad�vill begin whcn the notice is given.
<br />- Unless L.ender and Borrawer otherwise agree in writing, airy applieatiun of prc�ceeds to principul shull not extend or
<br /> postpone thc due date of ihe monthly puymcnts refcrmd ta in parugraphs I und 2 or change thc amount of the payments. If
<br />-�•;., undcr parugruph 21 thc Aropeny is acquired by Lendcr, Barrawcr's rigtit to uny insurance policics and pra�eeds resulting fram
<br />.- i damage to the Property priar to tht ucquisition shull pass to I.ender to the extent of the sums secured by this Security Instniment
<br />= ' .,� immediutely pnor to the acquisition. `
<br /> 6. Occupancy.Preservatlon.Muintenance and Protection of the Property; Borrower's Loan Appltcation;L,easeholds.
<br /> Bonower shall occupy, establish,and use the Praperty as Borrower's principal residencc within sizty days nfter the execution of
<br />' +.. this Securiry Instrument and shall continue to c�ccupy the Property :as Borcower's principal rcsidence for at Iea+t onc year after
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<br /> the date of occupancy, unless Lender otherwise agrees in writing, which consent shall n�t be unreasonably withheld. or un ess
<br /> - . .,, extenuating circumstanca exist which are bcyond Borrower's control. Borr��wer shull not destroy, dumage or impair the '
<br /> - Property, ullow the Property to deteriorate, ar commit wast� on the Property. Borrower shnll be in default if any forf�iture
<br /> y action or proceeding, whether civil ar criminnl, is begun thut in Lender's good faith jud�rnent could result in forfeiture of the
<br /> �, . Property or otherwise ma�erially impair the lien created by this Security Instrument or Lendcr's saurity interest. Borrower may
<br /> cure such u default und reinstate,as provided in paragraph 1R, by cuusing the action or procecding to he dismissed with u ruling
<br />-� •• that, in C.ender's good faith determinatiun, prccludes forfciture of the Bonawcr's interest in the Property or other materinl
<br />-:. ._ .- . impairmen[ oi�hc iicn crcuicd 'uy tiii�a«Uiiiy IilSiitiiit:,l1:or[.ender's setusit; inr,.t��t_ pnrr��ver shall ulso be in default if
<br />_ Borrower,during the loan applicatian process,gave materially false or inuccurate inf�rmat ion or stutements to[.ender(or failed
<br /> � to provide L.cnder with any materiul information)in connection with the loan evidencecl by the Note.including, but not limited
<br />`�;. ; •, to, representations conceming 9orrower's occupancy of the Property us a principul residence.If this Security Instrument is on a
<br /> leasehold, Honowcr shsJl comply with all the provi�ians of thc leasc. If Borrower u�quires Fee titic to thc Property. the
<br />`• � leasehold and the fee titicshall not mergc unless Lender agrees to the mcrgcr in writing.
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<br /> �;�.x;•�.;; ;,•:,� 7•Protection of L.ender's Rights In the Property. lf Borrowcr fails to perfarm thc covenants nnd agreements contnined in
<br />- . .,,..,;' this Security Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a
<br /> u>'.. ; : proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations),then L.ender may do and
<br />-` pay for whntever ic necasary to protect thc value of the Property and L.endcr's rights in ihe Property. i.cnder's actions muy
<br />_ � include pa��ing any surm secured by a lien which has priority ovcr this Security Inst►ument, uppearing in court, paying
<br />'_��^�'�- • • rcnsonable attomeys' fecs and entering on the Property to make repairs. Although I.ender n�ay take actton under this par►�raph
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<br />=r.;�: �_;,�:,� 7, Lcnder docs not have io du so.
<br />;.•¢ .. .• . ', Any amounts disbursed by Lcnder under this paragraph 7 shaU bccorne additianal debt of Borrowcr sccured by this
<br /> � • ;� Security instrument. Unkss Borrower and L.endcr ugrce to other tcrms of paymcnt, thcsc umounts shall bear interest from the
<br />_ . date of disbursement at thc Notc rate and shaU he payable, with intcrest, upon notice from Lendcr to Borrower requesting
<br />- _ payment.
<br />'—' S.Mortguge b�surnnce.If Lender rcquired mortguge insursnre as a cundition of making thc loan secureci by this Security
<br /> - Instrument, Borrowcr shall pay thc premiums rcquired to maintuin the mortgage insurancc in cffect. Tf, for uny reason, the
<br /> mortgage insurancc covcra�c rcquired bp Lcnder lapses or ce:tses to bc; in effcct. Borrower shall pay thc premiums required to
<br /> ' ,..' ' "* obtaiin coverage substantial ly equivalent to the mortgage insurance previously in effecr,3t a cost substantiaUy equivalent to the
<br />. � wst to Bonowcr of thc mortgagc insurancc previuusly in effcct, from nn altcrnate murtgagc imurcr approved by L.cnder. If
<br /> •� �` substuntially equivalent mortgage insurunce coveragr is not uvniluble. Borrower shull puy to L.c:ider each month a sum equal to
<br /> ° � � ane-twelfth of the yearly mongage insurunce premium being paid by Borrower when the ensurance coverage lapsed or ceuseci to
<br /> . g� be in effect. I.ender will accept, usr anJ retain these payments as a loss reserve in lieu c,f mongage insurunce. Lnss reserve
<br /> r� Form 3028 9l90
<br /> vnpo 3 of 8
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