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<br /> 5. Hau�rd or P'roperty Insurn��:!! Barmwcr shall kcep thc improvemcnts ntlJ9cxisting un c�rcaftcr crcctr,ci on thc ;�_ __
<br /> , s::ia° ��_
<br /> property insurcd uguinst los+ by fire,huxurd.r inrludcd within thc icrni"extended cuveruge"and nny other hu�.urds, including ,..Z,,,;�Y.;
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<br /> fload+ur tlo�xiin�;. fiir which l.cndcr rcyuircti in�urancc. This insuruncc shall h�tn.�i»tuincd in thr amaunts and f'or thc peric�ds � :
<br /> thut l.�ndcr require+. Thc in�uranc�ca�ricr pruvi�ling thr in�+uruncc+hall hc rhu,cn hy Rorruwcr tiuhjcct tu I.�•ndcr'ti appraval � .-r M.
<br /> whirh �hall nnt hc unrcatiunubly withhclJ. If Borruwcr fail.tu maintuin cavcragc dc�crib�d ahcwc. l.�ndcr miiy, ut l.�ndcr'x _
<br /> b optiun.uMain ruvcragc ta prc,tcct IA�nder'.rightti in thc Property in accurduncc with purugruph 7. �ri•'•
<br /> . All insur+uuc policie�and renewulti�hull l�c ucceptublc ti� L,endcr�►nJ shull include u ��undurJ mortgugc rlause. LenderCl „
<br /> ..� shull havc thc right tc�huld thc pi,licics und rciKw.d.. If l.cndcr rcquires. Burrowcr shull pn�rnpdy givu to l.endcr ull rcrcipts of� r ;..�,�y :,
<br /> puid prcmiums.uid renewul nutirc�. ln thc cvcm��f los.r. Bi�rr��wcr�hall givc prc,mpt nnticc to ihr in,uranrc rurricr und I.i:ndcr.�Q _
<br /> . .,.«,�i I.cnJcr muy makc proof of li�ss if not mudc protnptly by Hormwcr. '\t . .,;,�,.>:_�;
<br /> � ��r�r.
<br /> �, Unlcss LcnJcr and Borrc�wcr othcrwisc ugrcc in writin�;,insuruncc praccccis shall hc applicd to restorutiim�r rcpuir of th� -----
<br /> ��� Yroperty dumugcd,if thc restoratiun��r rcpair i�cconnmirully fcusihlc und l.cndcr',ticcurity i�n��t Ic+scned. If thc restorution ur
<br /> , � rcpair i�not ccnnomicully fcusiblc ��r 1.cnJcr's ticcurity would bc Icsscncd,�hc in,urunrc prc�cceds shall bc upplicd to thc sums �:R
<br /> ' secured by this Security Instruinent, whether ar ni�t then Jue, wiih uny exress puid to Banuwer. If Borrower abundons the [��-=�
<br /> [._r""_
<br /> , ��� Propeny, ��r does not answer within 30 duyti u notice f'rom Lcnder that thc insurunce currirr hus offered to settle a cfaim, then �
<br /> ' Lender muy collect the insurunce proceeds. Lender muy use the procecds tc� repair or restor� thr Pruperty or to pay sums `__-_ _ -
<br /> � scrurcd 6y this Sec:uriry Instrument,whcther ar not then duc.The 30-duy period will begin whcn thc noticc iti given. --
<br /> Unlerti L.ender and Borrowe� othenvise�gree in writing, any applicati�n of proceeds to principal tihull not extend or
<br /> ` postponc thc duc date nf thc rnonthly puymcnts referred to in paragraphs I und 2 or chnngc thc amount of the payments. If _��_
<br /> � undcr paragruph 21 thc Property ir acquircd by I.cndcr, Borrower's right to uny insurancc pulicics and proce;cds resulting from
<br /> damuge to the Pmperty prior to thc ucquisitiun shall pass to [.cndcr to thc extent of thc sums secured by this Securiry Instrumcnt
<br /> immediately prior to the ncquisition. �_
<br /> 6.Occupartcy, Preservation, Maintenance and Protectiun at the YropNrty; iiorrower's I.oun Appltcation;I.euseholds.
<br /> � Borrower shnll occupy,estnblish,and use the Property as Bormwer's principal residence within sixty duys after the execution of
<br /> this Security Instrument and shull continue to occupy the Property us Borrower's principal residence for nt least one year after �_
<br /> the dute of occupancy,unless L.ender otherwisc ugrees in writing,which cansent shnll nat be unreasonably withheld, or unless
<br /> extcnuating circumstunces exist which ure bcyond Hormwcr's control. Borrower tihall not destroy, damage or impair the _
<br /> Property, allow the Property to deteriorate, ar commit wastc on the Property. Bonower shaU be in defuult if uny forFciture
<br /> nction or procec;ding, whetlier civil or criminal, is b�gun thut in Lcnder's good faith judgment could result in forfeiture of the ---
<br /> Praperty ar otherwise materially impair the lien crcated by this Sccurity Instrument or Lender's security intcrest. Borrower may —
<br /> " cure such a defuult and reinstate,us provided in puragruph 18,by causinb the uction or procecding to be dismissed with a ruling
<br /> - _� that, in Lcndcr's good faith dctcrminstion, precludes forfciture of the Borcower's intcrest in the Propeny or other mutcrial
<br /> --- —_._._ �mr�irment of che lien crcated by this Security Instrument ��r Lender's sccurity interest. Borcowcr shall ulso be in default if
<br /> , Borrower, during the loan upplicution proce,s,gave materially false or inaccurate information or statements to Lender(or tailed
<br /> to provide Lendcr with uny mnteriul informatian)in connection with the loan evidenced by ti�e Note, including, but not limited
<br /> to, representations concerning Borrower's occupancy of the Property as a principul residcnce.If this Security Instrument is an a
<br /> leusehold, Borrower shall comply with ull the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> � leaseliold and the fee title shall not merge ur�less Lender a�rces to the nxrger in writing.
<br /> 7.Protection of L,ender's Rtghts in the Property.If Borro�ver fails ta perform the cavcnants an�l ugreements contained in
<br /> this Security Instrument, or there is u legal proceeding that may significantly uffect Lender's rights in the Property (such as a
<br />' proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations). then Lender muy do and
<br /> � , pay for whatever is necessary to protert the vuluc of the Property und L.ender's rightx in the Property. I.ender'�actians may
<br /> include paying uny sums secured by a lien which has priarity over this Security Instrument, appearinR in court, paying
<br />� ., reasonable uttorncys' fces and entering on thc Property to makc rep:sirs. Although Lcnder �nay takc action under this paragruph
<br />= ' 7,Lender does not have to do so.
<br /> :� �• 'Ca' Any amounts disbursed by l.ender under this paragraph 7 sh;dl become additional debt af Borrower secured by this
<br />= � � � � Securiry Instrumcnt. Unless Borrower and l.cndcr agree to other tcrms of payment, these amounts shall beur interest from the
<br />• � datc of disbursement at the Notc rate und shall bc puyablc, with interest, upon notice from Ixnder to Borrower requcsting
<br /> ' payment.
<br /> f�'�' 8.Mort�a�e Insurance.If Lender requireci mortgage insurance as u condition of muking the loan secured by this Security
<br /> Instrumcnt, Borrowcr shall pay nc�premiums rcyuired to maintain the mongagc insurancc in effect. If, for any reason, the �
<br />_"` � mortgage insurance coveruge required by Lender lapses ar ceases to be in effect, Borrower sh�ll pay the premiums required to �
<br />_ • • obtuin covernge tiubstantially equivalent to the mortgage insurance previously in effect,ut a co�t substantially equivalent to the
<br /> ti cost to Borcowcr of the mortgage insur•rncc previou:ly in cffcct, f'rom an altcrnatc mort�age insurer upproveci by Lcndcr. If
<br /> ' r substantially cyuivulent mongagc insurance covcragc is not available,Borrower sliall pay to l.ender carh month a sum equul to
<br /> � one-twclfth of thc yearly mortgage insurance prcmium bcing pxid by Borrower when thc insurxnce covcragc lapsed or ccascd to
<br /> � be in cffect. Lender will xccept, use and retain these payments us a los� reserve in lieu of monguge insurance. Loss reserve �1:_=-
<br /> � Form 3028 9/90 —
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