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<br /> 5. Ha•r.ard or 1'roperty insururtcc. Dorr��wcr ,hall kccp thc impruvcrncnt+ n�nv rxitiung un c�rc.d'trr crcrtcJ on thc - .
<br /> pr�,perty in,urcd againtit lutis hy fire. ha�urd�. inrludrd within tiic tcm� "cxtcn�lcd ruv�ragc" and any othrr hautrdti. including
<br /> ,. fluud,��r t1o��Jing. fur which L.cndcr rcquires intiurancc. Tl�i. insurancr sh.�ll hc maintninc�f in thc anu�untti�ind for tlic peri�xl`
<br /> Ih.�l Lrn�lcr rrquirc+. Thr in.ur��nre rarricr pruviding thc in,uruncc tihull hc rhu,rti hy Hurru�vcr suhjcrt tu Lcndcr'ti appr��va�
<br /> , whirlt shull nc�t hc unrca,onahly withhcld. If Iiurrowcr fail, to maintain cuvcragc J�+cril��d ahu��.:. IAnJ�r ma�. at Lc�ider'� ,>
<br /> . aptian, uMain rovcragc tu pratcct Lcndcr'ti risht�in thc Propei�ty in accordancc with paragraph 7.
<br /> • �^��'""� All insurance polirics and renew.ds shall bc acceptahlc ta Lcnder and �hall include a stanJurd mortgage i:lautia I.A;nder `' �,�
<br /> �� ' ��'�` ,hall huve thc right tn huld the pulicies and renewals. If L.enJer reyuires, Borrower shall promptly givc tu Lender all receiptti of
<br /> paid prcmiums and rencwal nuticcs,In thc evcnt of lotis, Bi�rrc�wer shall give prompt noticc to the insuranre rurricr and l.cndcr.
<br /> Lcndcr may makc proof of luss if nnt made protnpUy by 8orrowcr. :_..�°
<br /> � Unless Lender and Barrnwer otherwise iigree in writing, �nsurunce proceeJs shull be upplied to restoration or repair of the =
<br /> � Property Jamaoccl. if thc restoration or repair is ecunomically feasiblc and L.ender's security is nc�t lessened. If the restoration or _�-.
<br /> repair ir not econumically I'uwsible or Lender's security would bc IcsseneJ, the insurance procecds shull be applied to the sums „��_
<br /> . scrurcJ by this Security Instrununt, whrther ur not thcn duc, with any excess paid to Borrawcr. If Borrowcr abundons`„en �;��°-.
<br /> ' Property,or does not answer within 30 days a noticc from C.ender that the insurance carrier has offered w settle a clnim, �;_.._._
<br /> - iQ Lender may collect the insurance proceeds. I.ender muy use the proceeds to repair or restore the Property or to puy sums - -
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<br /> �' tiecurcd by this Security Instrument,whethcr or not then due.The 30-duy period will begin when the notice is given. �.�_
<br /> ' Unless I.ender and Borrower otherwise agrec in writing, nny application of proceeds to principal shull not extend or ,a-_-
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<br /> � postpone the duc date of the monthly payments refcrred to in paragraphs I and 2 or change the amount of the payments.If —_
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's righ[to any insurance policies and proceeds resulting from ^
<br /> , d;unage to the Property prior[o the acquisition shall pass to Lender to the extent of the sums secured by this Security J�astrument �;~�-J
<br /> ''� immediatcly prior to thc acquisitiim. �-'•`��--
<br /> 6. (kcupnncy,Pr�ervatton.yiaintenance and Protection mf the Property;Borrower's Loan Appltcation;L�euseholds. �s,_�
<br /> z Borrower shall occupy, establish,and use the Property as Borrower's principal residence within sixty days after the execution of _
<br /> this Security Imtrument and shall cuntinuc to occupy the Property as Borcower's principal residence for at leust one year aRer _
<br /> "" the dute of occupancy, unless L.ender otherwise agrees in writing, which consent shall noi be unreasonably withheld, or unless �
<br /> . �'� extenuating cirrumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> _ „ �:��,�:;�. »!!�,.. Ihn pmnrrty t� dc�eriorate, or commit waste on the Propcny. Borrower shall be in default if any farfeiture
<br /> . � action or proceeding, whether civil or criminal, is begun that in Lender's good faith jud�ment could resu�t in iorfeicure ui ii�C
<br /> Property or otherwise mnten�lly impair the lien created by this Security Instrument or Lender's security interest. Borrower may !
<br /> ' cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling _
<br /> �"*�•'""' that, in Lendcr's good faith determination, precludes forfeiture of the Borrower's interest in the Property or ather matennl �_-
<br /> impairment ��f the licn crcated by this Security Instn►ment or L.ender's security interest. Bonowcr shall also be in default if
<br /> ;�`.;.�,�; Borrower,during the loan application process,gave matcrially false or inaccurate information ar statements to Lender(or failecl
<br />'='~"� �' << to provide L.ender with any material informution)in connec:tion with the loan evidenced by the Note, including, but not limited
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<br /> to, represeniations conceming Bortower's occupancy of the Property as a principal residence. If this Security lnstrument is on a
<br />---- �=:..,,,, leasehold. Borrower shall comply with aU the provisions of the lease. If Borrawer acquires fce tide to the Property. the
<br /> �''��x�%' Icasehold and the fee tiNe shall not merge unless Lender agrees to thc merger in writing.
<br /> '=.-`°��� 7.Prateciion of Lender's Rlghts in the Property.If Borrower fails to perform ihe covensnts nnd ugreements contained in
<br /> -�rvs+r� this Security Instrument, or there is a legal proceeding that may significandy affect Lender's rights in the Property (such as a
<br />- (.:_":�?�,� procecding in ba�ikruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may dci and
<br />_--�a��� pay for whateveT is necessary to protect the value of the Propercy and Lender's rights in the Property. Lender's actions may
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<br /> -_- w � include paying any sums secured by a lien which has priority over this Security lostrument, appearing in coun, paying
<br /> --=�r��`� ;easonable attorneys' fees and entering on the Property to make repairs. Although Lender may takc action under this paiagraph
<br />- - �''�`�' 7.Lender does not have to do so.
<br /> :�:.������ Any amounts disbursed by Lender under this paragruph 7 shall become additional debt of Borrower secured by this
<br /> --- = Securiry Instrument. Unlass Borrower:uid L.ender agree to other tcrms of payment, these amounts shull beAr interest frorn the
<br /> Y�-•�.—.�,y'`:-� date of disbursement nt thc Note irate and shnll be payable, with interest, upon notice from Lender to Bonower requesting
<br /> _......a•.c.•�:.. payment.
<br /> yl���: �1 8.Mortgage Insurnnce. If I.ender required mortgage insurance as a condition of making the loan secured by this Security
<br /> �"''"r-'�.'� ' instrument, $orrower shall pay the premiums required to maintain thc mortgage insmance in cffect. If, for any rcason,the
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<br /> �- mortgage insurance covernge required by I.ender lapses or ceases to be in effect, Borrower shall pay the premiums required to
<br /> _ - :� ' obtain coverage substantially equivalent te the mortgage insurance previously in effect, ut a cost substantially equivulent to the
<br /> . �'��� wst to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If �
<br /> '`,;.' substantially equivalent mortgugc insurance coverage is not available. Borrower shall pay ro Lender each month a sum equal to _;
<br /> ' �; one-twclRh oi the yearly mort�age insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to �
<br /> ' be in cffect.i.cnder will accept, usc and retain thcsc payments as a loss rescrve in licu of mort�age insurance. Loss reserve �._
<br />, ' :,��� Form 3028 9I90 —'
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