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<br /> 5.Haaard or Prc�perty Insurance. Boaowcr shall kccp thc improvements now cxisting on c�rcafter crccted an thc Property _
<br /> insurcd against loss by fuc,hs+•rurds includcd within thc uerm "cxtendcd covcragc'and any othcr hazards,including floods or
<br /> flooding, for which Lcndcr requires insurance.'I'hig►�guranc�shall bc maintaincd in ihc anounts end for thc period.c that Lendcr -
<br /> rcquires.Thc insurancc carricr providing thc insurancc shall lx:chosen by Bonowcrsubj�ct to L.endcr's npproval which shall not
<br /> bc unrcasonably withbcld.If Horrowcr fails to maintain covcragc described abovc.
<br /> Lcndcr may, at L.cndcr's option, obwin
<br /> covcragc to prou:ct Lendcr's rights in thc Property in accardancc with Paragraph 7.
<br /> All insurance policies and renewals shall be accePtable tn Lender and shall include a standard mortgage clause. I.ender shall
<br /> havc ihe right w hold thc policics and tcnewals.If L.ender rcquues,Bonower shall prompdy give to Lcndcr ell reccipts of paid
<br /> premiums and renewal notices.In the event of loss,Bacrower shtilll give prampt notice ta the insurance carrier and Lcnder.I.ender
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<br /> may make proof of loss if not madc prompdy by Borrowcr. � ,; _ -_
<br /> Unlcss Lendcr and Borrower otherwtse agrcc in wntin8�insurance pr°ce�d.S s�all be applied to restoration or repair of the :i_`=-
<br /> properry damaged,If thc restoration or rcpair is economically feasiblc and L.ender's security is not lessened.If the restoration or `.
<br /> repair is not economicaUy feasible or L.ender's securicy would be lessened, the insurancc proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then due, with anY excrss paid to Borrower. If Borrower abandons the �Y
<br /> Properry, or does not answcr within 30 days a noacc from Lendcr that the insurance carricr has offer o�pay ums sceurcd
<br /> I.ender may collect the insurance Pr�ceed.S•Lender may ose the proceeds w repair a restore the Property
<br /> by this Security Instrument,whcther or not then duc.The 30-day period will begin when ihe notice is given.
<br /> Uniess Lender and Barower otherwise agree in wridng,any appGcadon of procceds to principal shall not extend or postpone
<br /> the due date of thc monthly payments rcfcrred co in Parab`raPhs 1 and 2 or change ihc amount of ihe payments.If undcr parugraph
<br /> 21 the Properry is acquired by Lender,Borrower's right to any insurance Policia and proceeds resulting from damage to the
<br /> Properry prior to the acquisition shall pass to Lender to the cxtent af thc sums secured by this Security Insirument immediately
<br /> � prior to the acquisttion. {�
<br /> 6.Qccupancy,Preservatton,Maintenance and ProtecNon otthe Property; Borrower's Loan Application;Leasehotds. , ,
<br /> Boaower shall occupy,establish.and use the Property as Borrower's princlpal residenee within sixry days after the execution of
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<br /> � this Securiry Insuument and shaU wntinue to occupy the Property as Boaower's principal residence for at lea.ct one year after the � ; ,�-
<br /> � dace of occupancy, unless Lender otherwise agrees in writu►8• which consent shall not be u�age or imp�the Property, •�'���r- ��
<br /> __ �X�n� ��u��tance.c exist which are beyond Bonower's cantrol.Borrower sheU not destroy, i action os �•'`~ � ��,
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<br /> � aUow the Property to deteriorate,or commit waste on the Property. Horrower shatl be in default if any fa c uuc • ;� �. t,�,
<br /> � proceecling,whether civil or criminal,is beBan tha�in Lender's good faith judgrnent could msult in fodeiture of the Property or }., :��;�
<br /> �,; otherwise materiaUY in►Pair the lien created by this Secwrity Instrument or Lender's securiry interesG Borrower may cure such a �a;���
<br /> h 18, by causing the action or pracceding co be dismissed with a ruling ihat, in �.• •` =
<br /> ' default and reinstate,as provided in paraSceP a. ;°
<br /> Lender's goad faith detemiinauon,precludes forfciture of the Borrower's interest in t]ie Property or othar materlul impairn►ent of
<br /> � the lien crcated by this Sccurity Instrument or L.cnder's security u►teres�Borrower shall also be in default if Bonowcr,during the �,
<br /> ; loan appltcat�on process.gave materially false or inaccuratti infornisdon or steternents W Lender(or failed to provide Lender with
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<br /> any material informaaon) in connection with the loan evidenced by the Noue,including, but not limited to, representations .
<br /> conceming Borrower's occupancy of the Property as a principal residence.If ihis Security Instrument is on a leaschold,Bomower _�.�L.
<br /> . shall comply with all the provisions of the lease.If Borrower ac�uires fec tide to�he Property,the leasehotd and the fec:title shall :,�
<br /> not merge unless Lendcr agrees eo the mcrger in writing. ���
<br /> '° 7.Protection ot Lender's Rig6ts in the Property. If Barrowcr fails to perfortn the wvenants and agreements conteined in _ __
<br /> this Sccuriry Instrurnent,or there is a legal procccdln8 that may significanUy affect Lcndcr's rights in thc Property(such as a `=�;c,.
<br /> proce�ding in bankrnptcY,Probate,for condemnapon or fodeiture or to enfone laws or regulations),then Lender may do and pay "-.�_-�-
<br /> for whatever is necessary co protect the value of the Properry and L.ender's righis in ihe Property.I.ender's actions may include ��,;�_�
<br /> � ' paying any sums secured by a lien which has priority over this Securily Inswment, appearin8 in court, PaY�B reasonable .:•=.�tf}��=
<br /> �i.l '�Y��-r—.'_
<br /> suorneys' fees and cntering on the Property to make repairs. Althaugh L.cnder may takc action under this parngr'aph 7,1..endcr ,,..�:.
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<br /> docs not have to do so. - -
<br /> � Any emounts djsbwscd by L.ender under this paragraph 7 shall bccome addidonal debt of Barrower securcd by th�s Security ___ _ _ __
<br /> InsuumcnG Unless Borrowcr and L.cnder agrec to other terms of payment,tticse amounts shall bear interest from the datc of �::. � �'F�;�
<br /> disbursement at the Note race and shall bc payable,with intcrest,upon nodcc trom Lendcr to Borrower requesting payment _` ; ��,� �
<br /> 8.Mortgage Insurance. If Lender required mortgage insurance as a condilion of making ehe loar►secured by this Securiry ,�_�� .::,.,,,,�;. _
<br /> Insuumcnt, Borrower shall pay the premiums requ'ved to maintain the mortgagc insurance u► effec� If, for any rr.ason, the :'�A":..'` '..
<br /> • mortgagc insurance:coveragc rcquired by Lendcr lapses or ccases co be in cffccl,Borrawer shall pay the premiums rcquired to .
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a wst substantialJy equivalent to the "3 .
<br /> cost to Borrowcr of the moctgagc insurance previously in cffcct, from an alumate mortgage insurcr approvctl by Lcndcr. It ,
<br /> substantially equivalent mortgagc insw�ancc coverage is not availablc, Borrowcr shall pay to Lcnder each month a sum cqual to
<br /> ono-tweUth of Ihe yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceaseci to
<br /> bc in effec� Lender will accept,usc and retain thcse payments as a loss mscrve in lieu of mortgage insurancc. Loss reservc
<br /> Form 3028 9/90
<br /> �-eR(NE)tos+zl.o+ Paqe 9 018 i�mais:
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