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<br /> 5. Hi�znrd or Property Insur�ncc. Bnrru�ti•cr shall kecp [t►c improvcmcnts now cxisting c�n c�rcaftcr croctcd on tt�c
<br /> Pr��perty insurcd against loss by firc, hai.�rds includcd within thc tcrm "extcndcd covcragc" and nny nthcr hanrrds, including
<br /> � fluudx ur flouding, for which L�:ndcr nyuires insuranca This insur.�nrc tihull bc nr,�intainrd in thc amountti.uiJ f�9r thc periuds
<br /> ' � thut Lcndcr rcyuirc,. The i��surance carricr providing thr in�uranrc tihall he rhoun hy Burrua�cr suhjcct tn La�dcr's appraval
<br /> which +huU nu� be un��u,onubly witl�hcl�1. If Borrower fuil, to muinluin cewrrage dcticribcd above, l.ender may. at I.cnder's
<br /> :.;k�T'�'.�, option.obt�iin cuverage to protect Lender's rights in the Property in acrordaiue with p.�rigraph 7.
<br /> '- � All insurancc policics and rencwals shall bc acccptahlc w L.cndcr and shall incluJc u standurd nu�rtgagc cluusc. I.cndcr
<br /> ��, shall havc dir right to hold the policies and renewals. If i,cnder requires,Borro�ver shall prampNy givc to Lr�zdcr ull rcccipts af
<br /> puid prcmiwns und rencwal notices. In the cvcm of loss, Borrower shull givc promp[notire to thc insurancc currier und Lcnder.
<br /> I.rndcr may mukc proof of loss if not madc promptly by Borrowcr.
<br /> Unless L.ende� unJ Borruwer ot��erwise agrce ii� writing, insurance prore:ccis shall be applied to restoration or repuir of thc
<br /> • Property damageJ, if the restorntion or repair is economicnlly feasible and Lender's securiry is not Iessened.If the restoration ar
<br /> , repair is not economically feasible or Lender's security would be IesseneJ, the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not then due, with any exccss paid to Horrower. If Borrowcr ubandons the
<br /> Property, or does not a�is�ver within 30 days A notice from L.ender thut thc insurance carrier has offered to scttic a claim, then
<br /> � . Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> ' secured by this Security instrumcnt,whether or not dien duz. The 30-day period will bcgin whcn thc noticc is�ivcn.
<br /> Unless Lendcr and Borrower othenvise agree in writing, any application of pro;ceds to principal shall not extend or
<br /> •• postpone the due dute of the monthly payments referred to in paragraphs 1 and Z or change thc amouni of the payments. If
<br /> under par.�graph 21 the Property is ucquireci by Lender, Borro�ver's right to any insuranee policies and proceeds resulting from
<br />_ damage to the Property prior to the ucquisition shall pass to Lender to thc extent of the sums secured by this Security instrument
<br /> ",�' immediately prior to the acquisition.
<br />. - 6.Occupancy, Preservatton,MaEntennnce and 1'rotection of the Property; liorrawer's Loan Application; I.euseholds.
<br /> •� �� Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> ' this Security Instrument and shall continue to occupy the Propeny as Borrower's principal residence for at leasi one year after
<br /> . •� r• the date af occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> ' `'°� extcnuating circumstances exist which are beyond Borra�ver's control. Borrower shall not destroy, damase or impair the
<br /> �y:-., :a .- � Property, allow the Propeny to dcteriorate, or commit waste on thc Property. Borrowcr shall be in default if riny forfeiture
<br /> _;;;i?;� � acuon ar proceedmg, whether civil or criminal, is begun that in Lcnder's good faith judgment could result in forfeiture of the
<br />-`ti;,�;;;;_';,� ' Property ar otherwise materially impair the lien created by this Security Instrument or I.ender's security interest,Borrower may
<br /> -s��.'��r� cure such u default and reinstate,as provided in paragraph 18, by cnusing the action or proceeding to be dismissed with a ntling
<br /> �`•;;;�'�: that, in L.ender's good faith determination, predudes forfeitare of the Borrower's interest in the Propetty or other material
<br /> ---�-+� impairment of the lien created by this Securiry Instrument or I.ender's security interest. Borrower shaU nlso be in default if
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<br /> ------ -_ Borrower,during the loun applicntion Rrocess,gave materially false ar inaccurate information or statements to Lender(or fAilecl
<br /> to provide Lcndcr with any mnterial inforrnation)in connection with the loan evidenced by the Note, including,but not limited
<br /> ;; to.representntions concerning Bonower's occupancy of the Propetty as a principal residence.If this Security Instrument is on a
<br /> " ';;�: leasehold, Bonower shaU comply with all the provisions of the lease. If Bonower acquires fee title ro the Property, the
<br /> _— leasehold and thc fee titic shall not mergc unless I.ender agrces to the merger in writing.
<br /> _ 7.Protection of Lender's Rights in tfte Property.If Borrower fails to perform the covennnts and agreements contained in
<br /> this Security Instrument, or there is a legal proceeding that may si�nificuntly affect Lender's riglits in the Property(such as a
<br /> -- = proceeding in bankruptcy.probate, for condemnatian or forfeiture or to enforce Iativs or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Propeny and Lender's rights in the Property. L.ender's actions may
<br /> ---�� include paying uny sums securcd by a lien which hsu priority over this Securiry Instrument, appearing in court, paying
<br /> -- reasonable attorneys' fees and entering on thc Property to make repairs. Although Lender may tnke action under this paragraph
<br /> - - 7, Lend�r docs not havc to do so.
<br /> _ Any amounts disbursed by Lendcr under this paragraph 7 shall become additional debt of Rorrower secured by this
<br /> — Security Instrument. Unless Bonower and Lender ngre.e to othcr terms of payment,these Amounts shall bear interest from the
<br /> date of disbursement at the Note rate nnd shall be payable, with interest, upon notice f�om Lender to Borrower requcsting
<br /> �.�_ payment.
<br /> _ '— 8.Mortgage Insurance. If Lender required mongage insurance as a condition of making the loan securod by this Security
<br />_ —_� Instrument, Borrower shall pay the premiums requin;d to maintain the mortgage insutance in effect. If. for any re��:son, the
<br /> -- mortgage insurance coverage required by Lender lapses or censes to be in effect, Borrower shall pay the premiums required to
<br /> �'_—`"'�"'-� . obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> _ _-___ cost to Borrower uf the mortgage insumnce previ�usly in effect, from un alternate rr�ortgage insurer approved by Lendcr. If
<br /> ~v��� substantially equivalent mortgage insurance coverage is not available, Borrawer shall pay to L.ender each mo��th a sum equal to
<br /> -;;;�,;;,A,; one-twelfth of thc yc;:irly mortgage insurance premium being paid by Borrower when the insurance crncrugc lapsed or ceased to
<br /> _ ��:i'�'�� be in effect.L.cnder will accept,usc and retain thcse paymcros as a locs reserve in licu of mortgage insurancc. Loss rescrvc -
<br />—��3.'% r�d .
<br /> `^"���J�y� ' Form 3028 8/90
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