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<br /> 5. EEstzard or Prope�ty Iusurnnce. aorrower slinll keep the improvements now existing on c�reafter erected on the
<br /> Property insured agairist loss by fire, hazards included wltl�in the term "extended coverage" and a�ry ather haznrds, including
<br /> flaoda ar flooding, for which l.eader requlres insurance.This insurance shall be malntnined in the amounts and for the periads
<br /> thet L,ender requlres.The lnsurance carrier p�rovlding the insurance shnll be chosen by Borro�ver subject to l.ender's approval
<br /> ' � �� which shNl not be unrensannbly withheld. If Bonower fails to maintain coveruge descrlbed nbove, L.ender may, at Lender's
<br /> uption,obtain coverage to protect Lender's righte in tht Property in accordance wtth paxagraph 7.
<br /> All insurance pplicies and renewnls shall be acceptable to Lender nnd shall include a stendard rnortgage clause. l.ender
<br /> ' shall hnve the right to hold the policies und renewals. If Lender requires,Borrower shull pramptly give to Lender all rcceipYs of
<br /> . � paid prcmiums and renewal notices. In the event of loss,Bonower shall give prompt notice to the insurancc carrler and I.ender.
<br /> Lender may mnke proof of loss if n�t mude promptty by Bonower.
<br /> ' ,,.�...•�' f Unless 1.E:nder and Borrower othenvlae egree in writing,insurance proceeds shall be applied to restorattan or repair of the
<br /> -•:y •�''�''' Pcopetty damaged,If the restorution or rcpair is economlcttlly feaslble aad L.eader's securiry is not lessenal. If the restoration or
<br /> repair!s nat economically feaslble or Lender's secudry would be lessened. the insu�ance proceeds shall be applied to the sums
<br /> . ? sxured by this Secwiry Ipstrumeat. whether or not then due. with any eacess paid to Borrower. !f Borrower abandans the —,�,_
<br /> . � Properry, or does not answer witt►in 30 duys a notice from Lender that the lnsurance caxrler has offered to settle a claim, then f_'
<br /> Lender may collect t�e insuraace procads• I.ender may use the proceeds ro repair or reston the Properry or to pay sums
<br /> ^ sceured by this Secudty lnsteument, whether or not then due.The 30-day period will be�in when the aotice is given. �-
<br /> Ualess Lender and aorrower otherwise agree In writing. any applicatlon of proceeds to principal ah�ll aot eatend or �-_
<br /> � postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or changn the amnuat of the payments.If
<br /> uuder paragraph 21 the Property is acquired by Lender,Borrower's rlght to any insurance pollcies and proaeds nsulting from _
<br /> . � damage to the Properry prior to the acquisition shall pass to Lender to the exteat of the sums secured by t6is Secudty Insuumeat =
<br /> "� immediately prior to the acquisition. Y
<br /> . 6.Occupancy, Preservutlou,Maintenance end Protectlon of the Property;Borrower's Loan Applfcution;Leaseholds. __
<br /> Borrnwer shall occupy,establish,and use the Property as Borrower's principal residence within siary daya aRer the execution of
<br /> � thie Security Instrumeut and shall continue to occupy the Propeny as Borrower's principal residence for at least one year after
<br /> � •-� the date of occupancy,unless Lender otherwise agras in wdting, which conseut shall not be unreasonably withheld, or unless
<br /> „ �• extenuating circumstances eaist which are beyond Bonower's conunl. Borrower shall not desuoy, d�uaage or imp�ir the
<br /> � Properry, allow the Property to deterIorate, or commit waste on the Properry. Borrower shall be 1n default if any forfeiture
<br /> action or proceeding,whether ctvil or criminal, is beg�m chat in L.eader's good faith judgment could result in forfeiture of the
<br /> • Properry or otherwise matedally impair the lien created by thiR Sccurity Insuum�nt or Lender's security interest. Borrowcr may _
<br /> __ caire such a default and reinstate.as pmvided in para_p.ra�h 18,by causing the acdon or praceeding to be dismissed with a niling
<br /> '.,`Y� ��. that. in Lender's good faith determinatioa, pncludes forfeiture of the�orrower's interest in the Froperty or oti�er mauriat
<br /> , • impairment of the Ilen created by this Security Instrument or I.cnd$r's security interest. Borrower sball also be in default if
<br />'� � � Borrower.during the loan application process,gave materially false or inaccurate informatlon or statements ro L.ender(or failod
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<br /> � �,��%•:�: to pmvide Lender with any material information)in connecdon with the loan evidencul by the IJate,iacluding.but not limitad
<br />�;�,`�',".,����' to,representations conceming Bomower's occupancy of the Property as a prfncipal residence.If this Seecuurity Instnunent is on a
<br />�-�+T'�"���`'.•; leasehold� Boaowcr shall comply with all the provisions of thc lease. If Bomower acquires fee titic to the Property. the
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<br /> _--_-���-���� leasehold aad the fec dde shall not merge unless Lender agrees to thc merger in wdtln8•
<br /> �..`�'°��'"�''� `-"•�" 7.Protedton of Lender's Rlg6ts in We Property.If Borrower fails to perform the covenants and agreementa contalned in
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<br /> :_;,4,,,., ,, •,, this ScxurIty Instniment. or there is a legal procading that may significandy affcet Leader's dghts in the Pmperty(such a�a
<br />-- - procading in banlcr�ptcy,pmbste. for wademnadon or forfeiture or to enforce lews or regulations). thea Leader may do end
<br />�. " t��•�:�'- ` pay for whatever is necessary to protect the value of We Property and L.ender's rights in the Property.I.�nder's acdons may
<br />�"`a='�9����=�`�'� include paying any sums secured by a lien which has priority over this Securlty Insnument� aPP��8 � ��� PaYing
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<br /> -::�,���,�� reasonable attomeys'fees and entering on the Property to make npairs.Although Lender may take action under tltis paragraph
<br /> _ __--- 7,Lender dces aot have to do so.
<br /> — -- Any amounts diabursed by i.cnder under this puragraph 7 shall become additional debt of Borrower secured by this _
<br /> °"�`''"�� Securiry Instrument. Unless Bonower and Lender agra to other terms of pnyment, these amounts s2aall beaz interest from the
<br /> --��'�=-"`-�',�,�� dute of disbursement at the Note rate aad shsill be payable, with interest,upoa aotice from Leader to Borrower cequcsting
<br /> _"'�_:::.;�,'� Payment.
<br /> W�"{"--'�� 8.MortgAge Luurance.If Lender required mortgage insnrance as a condidon of making the loan secural by this Se�:uriry
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<br /> �'"`-'-°"��r'�'�� Insttvment, Bomower shaU pay the premiums required to maintain the moctgage insurance in cffect.If, for any nason,the
<br /> '�"�'r��� � mortgage insurance coverage required by Lender lapses or ceases to be In effect, Borrower shall pay the premiums requlred to
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<br /> ° � obta�in coverage substaatlally equivalcnt to the mortgage insuran.e previously in effect, at a oost substaatially equivalcnt to the
<br /> -'�`���'` ' cost to Bormwer of the mortgage insuraiice previously in effect, from an alterQate moxtgage iatsurer approved by Lcnder. If
<br /> ;��'T��i�� substaatiall e wvalent mort a e insurance covera e is not availabie,Borcower shall pay t�Lender aac6 month a sum equal to
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<br /> - _,T.. one-twelfth of the yearly mortgage {nsurance premiwn being p�id by Bocrower when the insurance coverage lapsod or ceased to
<br /> ` .:�•'" be in eEf�ct.L.ender will accept,use and ntaW these payments as a loss rescrve in lieu of mortgage iasurena. Loss ceserve
<br /> ,.�� Form3028 9I90
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