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<br /> : , � • . 5. Hazard or Prop�rty Insure.� Borrower shall keep the improvemeau n..�Existing or hereafter erected on the
<br /> •• • Pro�perty insured against loss by fire, harnrds included cvithin the tem�'extendod oover�ge"ansl any other hazanis.inctuding
<br /> � �_ �� � floods or flaodiAg,for which L.ercder tequires insuiartce.This insurancti shall be maintained in the amounts and for the periods .
<br /> � that l.ender requires. The insvrance carricr providing ttte insurattce shall be chosen by Borrower subject ta Lender s approval •
<br /> � �' � . whi�h shatl not be unreasonably withheid. if Borrower fails to maintain coveragc described above, L.ender may, at L.ender's� _
<br /> -• option,obtain coverage to protect l.ender's rights in the Propercy in accordance with paragraph�• � - :.
<br /> , ` �"°'°"���� Aq insurance policies and renewals shall be acceptable to Lender and sha!1 include a standard mortgage clause. Lender ' � �{. �,, '4`..
<br /> ��' -��� shall have the ri�►t to hoid the pc�licies and renewaSs. If Lender reqtsires.Borrower shall pramptly give to Lender al!reoeipts of � _
<br /> 5` .._.
<br /> : ' ` .. �' '= paid premiums and reaewal norices.In the event of loss,Borrower shall give prompt notice to[he inswance carrier and Lender. � � �.�,
<br /> . °• �. �. Lender may make pmof of toss if not made promptly by Borrower. � '�'''��-
<br /> " �`� Ualess Lender and Sorrawer otherwise agree in writing.inswance proaxds s1�a11 be aPplied to restoration or repair af the �
<br /> �• propetty damaged.if the restoration or repair is econ�nically feasibte and Lender s seturity is not lessened.If the testomtion or � -, ".`�-T�:
<br /> • � . , ' • repair is not eronomically feasible or Lender's security would be lesseaed.the insurance pmueeels shall be apptied to the sums � `.``�:���; _�.;,s'.::-
<br />�'.... : "�V� sewred by this Security Insuument, whether or not then due, with any eace.ss Paid to Bomower. If Borrower abandons the .Y _
<br /> Property,or does not answer within 30 days a notice from Lender that the insivance carrier has offered to seitle a claim.then � � ,�-�-_•
<br /> • ' Lender may•cnllect the insutance proc�ds. 1-ender may use the pmcee�s to repair or restore the Property ur tn pay sums y° --
<br /> • • . ., �' secured hy this Security Instrument,whether or not then due.The 30-day period wi11 begin when the notice is given. - • ___
<br /> ��� �.Y' Unless Lender and Borrower otherwise agree in writing, any applicatian of prooeeds to principal shaU not extend or � ,-�
<br />=- � ' postpane the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amnunt of the payments. If --
<br /> . , ' under paragraph 21 the Property is acquired by L.ender,Bomnwer's right to any insutance policies and proceeds�esulting from . ,. _—_
<br /> � _ � damage to the Property prior to the acquisition shaA pass to Lender to the extent af the sums secured by this 5ecvrity lnstrument • � __..
<br />- � �"- �� Y immediately prior to the acc�uisitiaa -_ _-_ -
<br /> --- •;�-..,`-�'. : 6.Qccupancy,Preservation,Ntaintenance and Prote�tian of the Property;Borro�es's Loan Ap�ltcation;I.easeholds. ----
<br /> ' ' Borrower shali occupy.establish,and use the Property as Borrower's principal residence within sixty days after the execution of � . --�_.
<br /> ` , ,. this Securiry InsUUment and shall continue ta occupy the Property as Borrower s principal residence for at least one year after r� � :%�'���-
<br /> -; ..�.�L.__
<br /> � • the date of occupancy,unless l.ender otherwise agrces in writing,which wnsent shall not be unneaconably withheld.or unless .;s, •.,___
<br /> • -. -� ' � exteauadns circumstances exist which are beyond Sorrowet's wntrol. Borrower shall not destroy, damage or impair the '�'�"�=��• -
<br /> • `' Y Properry. allow the Property to deteriorate. or wmmit waste on the Propeny. Borrower shall be in default if any forfeiture �`t������
<br /> �.. . f action or proceeding, whether civil or criminal,is 6egun that in i.ender's good faith judgment could result in forfeiture of the - _=
<br /> • Froperty or otherwise materially impair the lien created by this Security InsUVment or Lender's securiry interest.Borrower may - _
<br /> � � , cure sucb a default and reinstate,as provided in paragraph t8,by rausing the adion or pmceeding to be dismissed with a niling .
<br /> .. . � that, in Lender's good faith determination, precludes forf�.ure of the Borrower s intetest in the Property ar other material �...{;°:':°___
<br /> <���L..;
<br />, ' , . ' impairment of the lien created by this Security Instrument or Lender's secariry interest. Borrower shall silso be in default if : _�,�,,,
<br /> � Borrower,during the loan applicadon process,gave materially false or iaaccurate information or statements to Lender(or failed 4 *�-=
<br /> .}` ,_�
<br /> • � to provide I.ender with any material informarion)in connection with the toan evidenced by the Noie.including,but not limited •- 1`� •. .___
<br /> � '«'• --
<br /> --- - � to, represeneations conceming Horrower's occupancy of the Property as a priacipal residence.If this Securiry Instrument is on a _: .� __
<br /> � ' : IeasehoW. Borrawer shall comply with all the provisio�s of the lease. If Horrower acquires fee title to the Property. the : �.3i;A_
<br /> � � . '; ;: leasehald and the fee titte shall not merge unless Lxnder agrees to the merger in writing. ' -"=
<br />- • ?.Protedton of Lender's Rights in the Property.If Borrower fails to perform the wvenants and agreements contained in ..'��'��•
<br />. � - this Security Instrument. or there is a legal proceeding that may significantly affect Lender's righu in the Property(such as a � �,.,:: _,_�.---
<br />° . ' ' . pr+oceeding in bankruptcy,probate. for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and �. . ..--
<br /> � ' �'��' ��� pay for whztever is necessary to protect the value of the Ftsoperty und Lender's rights in the Property. Lender's actions may �
<br /> _ •�.• . ':: .
<br /> °�� • • . include paying any sums secured by a lien which has priority over this Security Instrument. appearing in couri. paying _._
<br /> ���r _. .. :. reasonable attomeys' fees and entering on the Property to make repairs.Atthougb Lender may take action under this paragraph -, . � -
<br />'.,:,; _ 7. Lender does not have to do so. . ,•Y--
<br /> • Any amounts disbursed by L.ender under this paragcaph 7 shall become additional debt of Borrower secured by this ::������.
<br /> . . Security lnctrument. Unless Sorrower and Lender a�re�to other terms of payment,these amounts shall bear interest from the .
<br /> . . ' '.•' .,� date of disbursement at the 1Vote rate and shall be payab:e. with interest. upon notice from l.ender to $orrower requesting . •
<br /> . , .:, ��- Payment. + •, . .. .
<br /> '� i�; 8.Mortgage Insurance.If L.ender required mortgage insurance as a condition of making the taan secured by this Security : •
<br /> � � lnsttument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the � •. . .
<br /> � � mc.yage insurance coverage r�,Guired by Lender Iapses c+�ceases to be in effect.Bor.ower shall pay the premiu�*ss required W � �� ��. .; .
<br /> � '• . obtain wverage su6stantiaUy eq���valent to the mortgage insurance previously in effect,at a wst substantially ayrivalent to the ;
<br /> � , . . cost to Borrow�er of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If ,.
<br /> � ` . ` � �� substantially e��ivalent mortgage insurance coverage is not available. 6crrower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by$orrower when the insurance covetagc lapsed or ceased zo �.' .
<br /> : • bc in effect. L.ender wiU accept, use and retain these paymer.ts as a loss reserve in lieu of mortgage insurance. Loss reserve . • .
<br /> �. . Form 3028 9/90 . �
<br /> ` --. � �_ Fopo 3 0l 0 . �
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