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<br /> S,HazArd or Property InsurAnce. Bottewcr shell keep thc improvements now cxisting on c�rcaftcr crecccton�i�c�s�ny �^-
<br /> � insurcd ageinst loss by firc, hazardv includcd withul �hc tcrm "cxtcnded covcragc" and any othcr hazards, including floods or _
<br /> • � tlooding, for whlch Lender requires ins�rance,This insurance shall be maintained in the amoun�s and for the pedods that Lender
<br /> rcqulres."Il�c insurancc carricr providing tha insurancc ahell bc choscn by Borrowcr subi�t to 1.cndcr's approval which shall nut
<br /> be unreasonably withhcld. If Borrowcr fails to mainlair� coverage described abovc, Lcndcr may, at Lender's option, obtain Y
<br /> � coverage to protoct I.ender's dghts In the Ptoperty in aceordance wlth paragaph 7. � ,
<br /> � All insurance policics and renewals shall be acceptable to L.ender and shall include a standard mortgage clause.Lender shall - •
<br /> havc the rlght to hold the policies and rencwals.If Lemler rcquincs,Borrawer shall prompdy givc to Lender all rcxcipts of paid •;�`;
<br /> Ipremiums and renewal nodces.In the event of loss,Bortower shaU give prompt notice to the insurnnce carrier and Lender.Lender _:e��`'�"_"'""
<br /> ] may make proof of loss if not made promptly by Borrower. � _—
<br /> � Unlcss Lcnder and Borrower othenvise agrce in wridng,insurance proceeds shell be appllcd to restoration or repair of the _
<br /> . Property damaged, if thc restoration or rcpair is cconomically feasible and Lender's security is not lessened.If the restoration or
<br /> repair is not economically feasiblc ar Lender's sccuriry would be lessened,the insurance procccds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then duc,with any excess paid to Borrower. If Borrower abandons the � �� __
<br /> � ` property,or docs not answer within 30 days a noticefrom Lender that the insurance carrier has offered to sctile a claim,then .;-���`�
<br /> � � Lender may coAcct the insurance proceeds.Lender may use the proceeds tn repair or restore th�Property or to pay sums sccured _
<br /> , by this Sccurity Instrument,whether or not then due. 'The 30•day pedod wIll begin when the nodce is given.
<br /> Unless Lendcr and Bonower otherwise agree in wridng•enY aPPlication of proceeds co principal shall not extend or postpone ,:5�,.-
<br /> � thc due date of the monthly payments rcfened to in paragraphs i and 2 or change the amount of thc paymcnts.If under paragraph
<br /> , 21 the Property is acquircd by I.ender,Borrowe�'s dght to any insurN►ce poUcies and procceds resulpng from damage to the .;.�,��:
<br /> Property prior to the acquisitian shall pass w Lcnder w the cxtent of the sums secured by this Security Instrument immcdiately
<br /> �C� ' prior to the acquisidon. , � .
<br /> 'e�,; 6.Occupaacy,Preservation,MAintenance and Protectlon ot the Property; Borrower's Loan AppUcetion;Leasedolds. ; .
<br /> � Borrower shall occupy.establish,and use the Property as Borrower's principal residence within sixty days after the execuuon of ;�:., �
<br /> ' this Securiry Instruument end shall continue w occupy the Property as Borrower's principal residence for at least one year after the •��.,,� ;E;;��.
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<br /> '' date of occupancy, unless Lender otherwise agees in wri►1�g,which consent shtill not be nnreasonably withheld. or unless �'`�
<br /> .�Id .��.t:'�.': _�F�=
<br /> cxicssuaiinS clrcunstanc�s exist whir_.��m heyond Borrower's control.Borrower sht►11 not destroy,damage ar impair thc Pmperty, ;,r.�.� :�
<br /> aUow the Propaty co detedorate, or commit wavte on the Property. Borrower shall be in default if any fortbiwre act�on or t` `� �.
<br /> proceeding,whether civil or crlminal,is begun that in Lender's good faith judgment could result in forfeiture of the Pcoperty or � ,��
<br /> othenvise materially impair the llen created by this Security Instrument or Lender's secunty interes� Borrowor may cure such a �L�:
<br /> default and reinstate,as provided tn paragraph I8. by causing the acdon or proceeding to be dLsmissed with a niling that, in ;�._.:
<br /> Lender's good faith detcrminaHon.precludes fodciturc of thc Borrower's interest in the Property or other mater)al impal�ment of ��':
<br /> the lien created by this Security Instrument or Lender's securiry interesG Borrower shell also Ixi in default if Borrower�during the '�••
<br /> loan epplication process,gave materially felse or inaccuratc informadon or statements to Lender(or failed to provide Lender with `�``
<br /> � any material informadon) in connec6on with Ihe loan evidenced by the Note, including, hut not limited to, representadons
<br /> conceming Sorrower's occupancy of the Property as a princIpal residence.If this Seturlty Instrument is on a Ieasehold,Borrowcr _
<br /> shall comply with all the provisions of the lease.If Barower acquires fec title to thc Property,the Ieasehold and the fee title shall __
<br /> :+ not merge nnles3 Lender agrees w the merger in writing, —
<br /> 7.Protection of Lender's Rigdts In the Property. If Borrower fails to perform the covenants and agrecments contained in __ �
<br /> '' this Security Instrument,or there is a legal proceeciing t]�at may significandy affect Lender's rights in the Property (sueh as a
<br /> �. � proceeding in bankruptcy,probate,for condemna6on or forfeiture or to enforce laws or regulaflons),then Lender may do and pay
<br /> for whatever is ncxessary to protect thc valuc of the Property and Lcnder's rights in thc Property.Lcnder's actions may indudc
<br /> � ' paying any sums secured by a Uen which has priority over this Sceurity lnstrument, appearing in court,paying reasonable =_____.
<br /> � i atiomeys' fees and entering on the Properry to makc repaus. Althuugh Lender may take acdon under this paragraph 7, Lcnder �__.�
<br /> _ dacs not have w do so.
<br /> , Any amounts disburseci by Lcndcr under this paragrnph 7 shall becomc additional debt of Borrower sccured by this Seturity _-
<br /> I�strument Unless Borrowcr and Lender agrec to othcr tccros of payment,thcsc amounts shaU bear interest from the datc of ��y-�
<br /> disbursement at the Notc ratc and shall be payable,with interest,upon nodcs fmm�.endcr to Borrower requesting paymen� `•'r:�� n"• �
<br /> 8.Mortgaqe Insurunce. If Lender required mortgage insurance as a condition of making the loan secured by this Security '•� •�
<br /> Insnument, Barower shall pay the premiums requimd to maintain the mortgage insurance in effecG If, for any reason, the .� •,. ,i:x w�`''.
<br /> mortgage insurencc coverage required by Lendcr Ls�pses or ceases co bc in cffect,Bonower shall pay the premiums rcquircd to �,� .
<br /> - obtain coverage substanUally equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the `��=�� �
<br /> cost to Borrower of the mortgage insurance previously in effect, fmm an alternate mortgage insurer approved by Lender. If .° ����'��,', r�
<br />� substandally equivalent mortgage insurance covera�c is not available.Borrawer shaU pay to Lender each month a sum equal to
<br />° onc-twelfth of Ihe yearly mortgagc insurancc prcmium bcing paid by Borrower when thc insurance covcrage lapsed or cca�cd to
<br />= t be in effect. Lender will acce:pt, use and retain these payments as a loss rescrve.in lieu of mort�age insurance. Loss raervc
<br />; Form 3028 O/90
<br /> (�j •8R(NE)lot�2l.oi Paps3ot0 inwnu. ,
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