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<br /> 5. Hamrd or Pro rt Insurance. Borrower �hall kee the im ro�•ements no« �x�,tin� ur hen;after emted on the � t�'' � �'
<br /> � Fe J P P b . . x :':...••
<br /> Property insured against loss by fire, h�ruds includod within the term "extcnde� covernge" snd any uther hazards. ineluding , __ ' �---3��•--
<br /> �` fluods or flooding,for which L,ender require�inst�rance. Thiti insura�ce+hsll be m:sintaimxi in the;unount�and Cor the periods ='° - _
<br /> � ? that Lender requirt:s. The insuranre carriLr providing the insuranci.hall be cho+en hy Burruwcr.ubject to [.ender's apprnval ' ` *;��-.=_T
<br /> � �vhich shail not be unrea�onably withhelJ. If Borrower fails tu m:iintain cuverage dr.crsbc�i ubo�•e. Lender may,at Lender's •, . ' «`
<br />� � � option,obtain coverage to protect I.ender's right�in the Property in aceurd:u�re with paragrsph 7. . �;;:�._ --
<br /> �, , `.
<br /> � Ap insurance policies and rersewals shall be acceptable w Lender:utd �hall inrluJe a .wndard mort�age clause. Le.nder ,� _ _ -���'
<br /> - -� shall have the right ta hald thc policics and rencwals. !f Lender ra}uire�.&xrou�er shall promP�lY Sive ta Lemler all receipts of ,_- --����-
<br /> paid prerteiums and renewal notices.[n the event uf toa+.Borro�ver shall give prompt natice to the in5urance carrier and Lender. . � �'�'��`
<br /> . Lender may make proof of loss if not made psompdy by 8orro�ver. '.. .. „ ,'t- _-��''�
<br />. '° �~�
<br /> - Unles�Lender and Borrower otherwise agree in writing. insurance proceeds�hall be applied to restoration or repair of the �� ° -- - -
<br /> . Property damaged,if the resioration ar repai�is economically feasible and Lender's security is nut lessened. If the restoration or %.4,,._ ` _ =
<br /> • repais is not eoonomically feasible or Lender's securiry would be lessened.the insurance proceeds shap be appiied to the sums =��,�.��.�w -
<br /> secured by this Security InstrumenG whether or not then due. with any excess paid [o Borrower. If Borrawer abandons the ��� _.,�•� ___.
<br /> ��. Properiy. or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a clnim, then """'r r '"`�- _;r.��- - _
<br /> Lender may cotlect the i�unrance proceeds. L.ender may use the procceds to repair or restore the Property or to pay sums `- +�!� � �
<br /> � � serured by this Security Insuument,whether or not then due.The 30-day period will begin when the nouce is given. �_3= =�-`
<br /> Unless Lender and Borrower otherwise agree in wriring, any application of proceeds to principal sfiall not extend or �"���:.:. �"
<br /> , postpone the due date of the mQ::�ly p�}znenu referred to in paragraphs 1 and 2 or change the amount of the payments. If -�
<br /> under ara h 21 the Pro �s a uired b Lender, Borrower's ri t to an insurance olicies and roceeds resuttin from ' ��—"�f`
<br /> P g�P ff�Y� �9 9 P�► Y R P 8 ���•'--�--:.. j• --
<br /> - damage to the Property prior to the aequisirion shall pass to Lender to the extent of the sums secared by this Security Instrument ��'`"'x�
<br /> ` immediately prior to the asquisivan. �,+�Y-- — -• -.
<br />`��-;° � 6.Occupancy,Preservation, Maintenance and Protectto�of t�e Property;Borrosves's IIr�n ApplFcaUon;I.easehalds.
<br /> Borrower shall occupy,establish,and uce the Property as Borrower's principal residence within sixty days after the execudon of �•���-
<br /> ,. this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after �
<br /> . the date of occupancy, unless L.ender otherwise agrees in wriung,which consent shall not be unreasonably withheld,or unless _� .� � �° �
<br /> : . extenuating circumstances exist which aze beyond Borrower's control. Borrower shall nat destroy. damage or impair the •'. . _
<br /> Property, afiloti�r the Property to deteriorate, or commit waste on tlze Property. Borrower shall be in default if any forfei�u�e �•;�� ,.; � � �'`
<br />;re1���;
<br /> ._,,�r . action or p�ading, whether civil or cri�inal, is begun that in Les%�r's good faith judgment oca�d t�esult in forfeiture oF[L-: �
<br />'��4fi: � Pro e or oth:rwise materiall i azr the lien cceated b this Secu=� Insuument or Lender's securi mterest.Borrower ena 4'�`";'•- •".-
<br /> y P nY Y�mP � Y "5 tY� Y . ..,. ` y,,.,:. w_.
<br /> •�• � cure such a de�ult and reinstate,as provided in paragrzr�18,by causing the ac��^�or proceeding to be dissr,�i_csad with a rtiling
<br /> . . ;- that, in Lender's good faith detemtinaaon, prec!udes fozfeiture af the Borrower's interest in the Property ¢+r other material �•�•'.�'"'
<br /> impairtnent asf ahe lien created by this Security Inswment or Le��zr's security inierest.Borrower shall also Ee in defaudt if �'�' � ,.__
<br /> ' Borrower,�,;�±ng the loan application process,gave materially faLsr or inaccurate inforrr�apon or statements to Lender(or faiEad ��` �'
<br /> . to provi@e G.�er with any matecial information)in connection w:::::.tie loan evidenc�ed by the Note.inclading,but nos[iiei:�d "�' ' '�
<br /> i..j .
<br /> . a�,represer.:ations conceming Bonower's occupancy of tLa Property as a principal residence.If this Security Irstument is on a ��;�f' �:�
<br /> . ��ehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to �: 3�roperry, the • 'r�:>�' �'
<br /> • leasehold and the fee title shall not merge unless I.ender agrees to the merger in writing. '` �--"±-`- ��
<br /> �',�°`:"••:
<br /> 7.PreBOCEfon of Lender's Rig6ts In the Property.If Borrow•ea fails to pedorm the wvenanis and agreements contair�rr.3� '-—
<br /> this Security Inswment.or there is a legal praceeding that may sib�i:�icantly affect Lender's ri�rjs� in the �'roperty(suc��a � ^`°+' "=_
<br /> . �' proceeding in bankruptcy,probate.for condemnation er forfeiture or to enforce 1aw s or regulations).then Lr�-r•..�er may do and -g-�,-------_-�
<br /> t,, �::.•.:.._
<br /> •,' pay for whatever is necessasy to protect the value of'� !�:ep�rty and Lender's r�:ts in the Property. Ir��_'s actions may �'r.'��. �;'''".�_;..:
<br /> ��; include paying any sums se�ured by a lien which has �io:ity aver Wis Security Instrument. appearing •:: court, ga�.ing -�:`��-
<br /> � F j reasonable�.u:-�eys'fees and entering on the Property to malce r�::�.Although I.ender may take acrion under this pac^�.r-.�h ,�: ':..,Y;_,_ �_:''�_
<br /> • 7, Lender d��s not have to do so. ':�'-T``--- ' r
<br /> '`• My ��.:nts disbursed by Lender under this �ar��aph 7 ssall become additional debt of Borrower secured by� iDis , , ',:;L°;�
<br /> - �` Securiry Insx,::nent. Unless 8orrower and Lender agrae to other terms of payment. these amounu shall bear interest from the —' -°
<br /> ' , date of disUz.�'s.ment at the Note rate and sha11 be payable. with interest. upen a�tice from Lender to Bonower requesting ��' � : ' . •
<br /> payment. _ �t•...,�°�:... �.:.'.
<br />:_;,,4;;... • 8.Me��e Insurance.If Lecder required mortgage insurance as a conditicr.of r.�aki-a ih:loan secured by this Se�ry '�`°`''' �" "•�4�;�.��c�_~__�
<br /> Insuurr�nt. Bonower shall pay the premiums required to maintain the mortg23: e�surance in effect. If, for any reason. t�e '.��,� a�. � s
<br /> mongage insurance soverage required by Lender lapses or ceases to be in effec�. �ezrower shall pay the premiums reqnired to �f.;,,,,,�,e;n -
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in e;iect. at a cost substantially equivalent to the �•
<br /> cost to Borca:��er of the mortgage insurance previously in effect. from an altemate rrtortgage insurer approved by Lender. !f _ �'�
<br /> � substantialtc,:equivatent mortgage insurance coverage is not available.Borrower shaU pay to Lender each month a sum eq�eafl to _._��_`�:
<br /> one-twelfih ef the yearly mortgage insurance premium being paid by Borrower when the insurance wverage lapsed or ceased to ;;;�.;•.
<br /> ; be in effect. Lender will accept,use and retain these paymenu as a loss reserve in lieu of mortgage insurance. Loss reserve — — -
<br /> Form 3028 9/90 � �'�"°
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