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<br /> 5. Hazard ar Prnperty Insurancc. Borrowcr shall kcep thc improvetncnts now existing on c�rcuftcr crectcd nn thc �,-
<br /> �, Propeny insured uguinst la+s by fire, hivards included within the term "extenJed cnvcruge" unJ uny other h:u.urds, including �_
<br /> • floods ar flooding, for which [.ender reyuires insurunre. 'This insurance shull be muintuined in the umounts and for the periods _
<br />" ;;.;,:�q�' that Lender requires. The insurunce currier providing �he inyuruncc+hall t�e�hnsen by Dnrrower tiuhject a� [.cnder's appr��vul� �°
<br /> ���, which shall not be unreasonably withheld. If Borrower fuils to maintain cuvernge described ubuve. L.crxler may, ut I.ender'oQp �`-
<br /> � option. obtuin coveruge to protect Lender's rihhts in the Property in uccordancc with parngruph 7. —
<br /> All insurance policies and renewuls shnll he acceptuble to L.ender and shall include a standurd mortgage clause. l.ender , —
<br /> • shall have the right to hold the palicies und renewals. If L.ender requires,Borrawer shall promptly give to I..ender all receipts of C __
<br /> ;, paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance currier�nd I.ender. � �
<br /> � Lender may make proof of loss if nat made pramptly by eorrower.
<br /> �. Unless Lcnder and Borrawer otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the —
<br /> Property dumagui, if the restoratian ar repair is economically feasible and Lender's security is not Iessened. If the restoration or �,
<br /> repair is not economically feasible or Lender's security would be lessened. the insurunce proceeds shall be applied to the sums —
<br /> � secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons Ihe
<br /> j}�;� Property,or does not answer within 30 days a notice from Lender that the insurance canier has offered to settle a claim, then _
<br /> � � �', I.ender may collert the insurance proceeds. Lender muy use the proceeds to repair or restore the Prape*ty or to puy sums
<br />- �• securerl by this Security Instrument,whether or not thc��due.The 30-day period will begin when the nutice is given. _
<br /> � lication of roceeds to principal shall not extend or _
<br /> �' Unless L.ender and Borrowe�'otherwise agree in writing, any app p
<br /> poscpone the due datc of the monthly payments referred to in paragraphs I and 2 ar change thc amount of the payments. If -
<br /> �� under paragraph 21 the Propeny is ncquired by I.ender,Burrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to L.ender to the extent of the sums secured by this Security Instrument _
<br /> immcdiately priar to the acquisition.
<br /> 6. Occupancy,Preservation,Maintenance und Protection of the Property; Borrower's Lc�an Application;Leaseholds.
<br /> � Bonawer shall occupy,estnblish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security Instrument and shaU continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupnncy,unless Lender otherwise agrees in writing, which conscnt shall not be unreasonably withheld, or unless
<br /> rxt�m�s►tine cireumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impeir the
<br /> ' . Praperty, allow the Property to detcriorate, or commit wastc on the t'ropeny. Borrowc� �i�ui1 �: in dcfauls if any forfeiture
<br /> action or proceeding,whether civil or criminul, is begun that in Lender's good faith judgment could result in farfeiture of the
<br /> • Property or otherwise materially impair the licn created by this Security Instrument or Lendcr's security interest. Borrower may
<br />� � cure such n defuult and reinstate,a�provided in parag�aph 18,by causing the actinn or proceeding to be dismissed with a ruling
<br /> �,�, . . that, in Lender's good fuith determinntion, precludcs Forfeiturc of the Borrower's intere�t in the Property or other material
<br /> .. impairment of the li�n crcated by this Security Instrumcnt nr Lcnder's sccurity interest. Borrower shAll also be in default if
<br />';'' Bormwer,during the loun applicution process, gave materially false or inaccurnte informution or statements to I.ender(nr failed
<br />- } to provide Lender with any muteriul informution)in cunnection with the laun evidenced by the Note, including,but nat Hmited
<br /> y�f. -•R, ..
<br /> , ta.representutians cnneerning Burrower's occupuncy of the Propeny us a pri�xipal residence. If thi�Securiry Instrument is on a
<br /> .w, ' lcasehold. Borrowcr shall cumply with ull thc provitiions uf thc Ieasc. If Borrower ucquires fee titic to the Property, the
<br />-3= ' , lcuschold and thc fcc titic shull not mcrge unlc�s L.cndcr ugrces to thc mcrbcr in writing.
<br /> �:� � �� � ���, " 7.Pratection of L�ndrr's Righ�i In the Property.If Bor�ower fails to perform the covenants and a�;reements contained in
<br /> ' '� �'• `''' this Security[nstrununt, or them is a Iegal procceding thut muy significuntly affect I.enJer's rights in the Property (such uti u
<br /> i�' � " 'Y prcxecding in bankruptcy,probate. 'ror candemnation or forteiture or to enforce laws or regulations), then Lender mny do and
<br />�: � �` pay for whatevcr is ncccssary to protcct thc value ��f the Property and Lendcr's rights in the Property. Lender's actions may
<br /> include puying any xums secured by a lien which has priority over this Security Instrument, uppearing in court, paying
<br /> ° rcasonablc attorncys'fecs and cntcring on thc Properey to makc repairs. Although l.cndcr may take action under this paragraph
<br /> � � 7,Lender does not have to do so.
<br /> �`��' Any amounts disbursed hy Lendcr under this parugraph 7 shall becane additional debt nf Barrower secured by this
<br /> -- ��•� Securiry Instrument. Unless Borrowcr and Lendcr agree t��other tcrms of pay�nent, thesc amounts shall bear interest from the
<br /> � date uf disbursement ut Aie Notc rutc and shall bc payablc, with intcrest, upon nc�ticc from I..ender to Borrowcr rcqucsting
<br /> . �' payltlenl.
<br /> ? 8.Mort{;agc Insurunce.If Lendcr rcquired mortgugc insurancc u+u condition of muking thc loan securcd by this Security
<br /> r Instrunxnt. Borrowcr shall pay thc prcmiumti reyuired to maintuin the mnAgagc insurancc in effcct. If, for any rcason, the
<br /> - , mortgagc insurancc mvcrage rcyuired hy Lendcr lupses or ccascs to bc in e(fcct,Borrowcr shall pay the premiums rcquirul to
<br />_. obtain coveragc substantially equivalent to the mortgage insurance previc�usly in effect, at a cost substantially equivalent to thc
<br />- cost to Burrowcr of thc mongagc insuranre prcviously in effect, from an alternate mortgagc insurer appmved by I.cnder. If
<br /> �ubstantially cquivalent nwrtgagc insurancc rovcragc is not available.Borrowcr shall pay t�� Lcndcr euch mcmth a Sum cyual to
<br /> unc-twelfth uf thc ycarly mortgage in+urarne premium heing paid hy Borrower when the insurance roveragc I;�psed or ceased to
<br /> be in cffc�t.[.cndcr will acrrpt, wr and retain thetic paymcnts:�s a loss rrscrvc in licu of' mortgugc intiurancc. Loss rescrvc
<br /> Form 3028 9/90
<br /> Pobc 3 0l�
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