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<br /> . . . ` ' � . 5. Ha�rd or Prupert}' I�u'an�• Borrower shall Yeep the impmvemeuts aow exisring on c�reafter eKCted on the _`, �
<br /> : • ' property insured against loss by fire,hazards included wiihin the term'exten�ed covorage" and any ather haTards,lIIC1ud'IIi$ ' �`' `� �,�
<br /> - - -.- ... fl o o d s o r fl o o d i n g,f o r w h i c h I.ender c e q u i m s insurance.This insurance sLall be maintained in the amounts and for the periods T _ .`
<br /> , �.,•.J.c t h a t L e n d e r r e q u i t e s.T h e i n t u r a n c e c a mer providin g the insurance s h a i l be c hosen by B o r r o w e r s u h j e c t t o L,e n d e r's a p p m v a l `=�',
<br /> � ' . ` � vrhich shall aot be unreasonabIy withheld. If Bosower fails to malntaia coverage descri b e d a bove.L e a d e r m a y. a t l e n d e r's
<br /> � oprion.obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. - -
<br /> olicies aad tenewals shall be asceptable to Leader and shall include a stattdard mortgage clause. Leader ,..,�� '
<br /> '. ' : All insurance P e to l�nder ail receipts of _ . _
<br /> . shall have the rig1►t to hold the policies and renewats.If Lender reguires,Borrower t nou'cet o�the u�s�urance cazrier and I.ender. : °
<br /> � paid premiums and reaewal notices.In the event of loss,Boaower shalt give FromP . . , `,.�'.,` ,.,�,
<br /> � Lender may make proof of Ioss if not made PromptlY by Borrewer.
<br /> mceeds shall be applied to restoiatioa or repair of the �"
<br /> •�� ` Unless Lender aad Bormwer othetaise agiee in writing,insurance P `=
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<br /> `• � ' �-i Property damaged,if the cestoration or repair is economically feasible and Lender's serauitY is not lessened.If the�estoration or . . > "�.':�
<br /> h .�:
<br /> y � mceeds shall be applied w the soms ;•-�r-��_
<br /> ' , repair is not economicall feasible or Leader's securi would be lesseened,the ia�tta�'-re p :�"��,._
<br /> : . secured by this Secutity Inscrument,whether or nos then due.with azry eacess paid to Barrower. If Borrower abandons the
<br />�. ,�'• progetty,or daes not aaswer withia 30 days a notice from Lender tHac the insurauce cazrier�o��to settle a claim,then -
<br /> 'y mceeds. Leader may use the proceeds to rePair or reswre the Property or t�pay sums . --
<br /> 4 . � i.ender may collect the insurance P when the noucc is ve� : .. . --
<br />.r, . S��by�Securiry Instnunent,whether os not then due.The 30-day peciod w�l begm �� not ex[end or y
<br /> . .:� UNess Lender and B orrower ot6envise a g r e e in aritiag,�3+ aPPlic�tion of proceeds to princip _ . u'� �
<br /> :��,: � .,. .',��
<br /> ' postpone the due date of the montWy payments�eferred to in pa�g�p� 1 and 2 or change the amouat of the paymenu• If -,�
<br /> �.`�.;��� =
<br /> , ' under paragraph 21 the Property is accNired by I.ender,Borrower's right to azry insurance policies and pmceeds resulting from , , �—
<br /> '.�. damage to the Property prior w the acquisirion shali pass to Lender to the extent of the sums secured hy this Security Inst�ment ;.�.';;�
<br /> �..�:.-
<br /> �_ � �� '° immediately prior to the acquisition. go�wer's Loaa ApptIcat3mi:Leaseholds. .. ._�.�'����4���.?,i;�
<br /> � �N± 6.Occnpancy.Preservatton.Mainienauce aud Yrotectton of the Froperty: r.
<br /> `� Borrower shall occupy,estahlish,and use the Pcoperty as Borrower's principal residence within sixty days after the exerution of `� _,
<br /> ` this Security Insuument and shaU continus to oaupy the PropertY as Borrower's priacipal residence for at least aae year aftes , 'd'-�--�_
<br /> = • � the date af accupancy.unless Lcader othenvise agrees in writing,which wnsent shall not be unreasonably withheld,or�mless . ... ` ':::�:`,;�;-
<br /> , ..;:s�-�. .,a;:�..a.
<br /> e�c[enuatinS cirwmstances eaisc which are beyond Bomower's conuol. Borrower shall not de.guoy, damage or impaiT the :..;..,,r,;. >.:_ g�
<br /> . ., t�:��,.
<br /> � . Pmperty, allow the Properry to deceriorate. ar commit waste on the Propeny Borrower shall be�n default if any forfeiture .�:�,,;.,, _,,.�_�
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<br /> , � action or proceeding, whether civil or criminal,�s 1�5��t ��der's good faitb judgment could result in forfeinue of the �,, . t��:
<br /> ,. ,�.
<br />- � paoperty or otherwise materially imPair the lien created by this Security Instniment or Lender's security interest.Borrower may ..::��_
<br /> ' caue sucb a default and reiastate,as pmvided ia paragraph 18.by causing the action or proceedinS m be dismissed with a:uling `+, :�Y�_i_
<br /> � � � that, in I.ender's goad faith determinaaon. precludes forfeiture of the Borrower's interest in the PruPertY or other material ,
<br /> impairment of the lien create�l bY this Securiry Instnunent or Lender's security interest. Borrower shall also be in default if `�•':;�'t� ' "`:�:,�
<br /> '� gorrawer�during the loan application process.gave materially false or inaccurate informarion or statemenu to Lender(or failed ��;"" . .,_d�",��'_
<br /> I �� to provide Lender with any material iuformation)in wnnection with the loan evidenced by the Note,including,but not limited ;'. :�. ..
<br /> .•� ; _ .
<br /> - ,-�, � to,represencations canceraing Bazro�ver's occupancy of the Property ac a principal residence.If this Security In.,�trument is on a -
<br /> ' leasehold, Borrower shall comply with a11 the provisions of the lease. If Borrower acquires fee title to the Property, the ', -� ����
<br /> leasehold and the fee title shall not merge unless l.ender agrees to the mer er in writin . � . � . ��
<br /> • 'on of Lendee's Rig6ts in the Property.If Boaower fails to perform the covenaats and agreements contain�in ,� �;.
<br /> 7,Protert�
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<br />�,.• � this Securlty Inmument, or there is a legal proceeding that may significantly affett l.ender s nghts in the ProPerry(suc as a : -
<br /> . proceeding in baukruptcy.probate.for condemnation or forfeiture or to enforce laws or mgulatiorsD.then lxnder may do aad
<br /> ' ; :� pay for whatever is necessary to protect the value of the Properry and Lender's rights in�he Pro�rcy.Lender's actioas may
<br /> � � � include paying any sums secured by a lien which has prioriry over this Security instn�ment. aPPearin8 in wurt. paying '�,� �'
<br /> � reasonable at[orneys'fees and entering on the Property to make repairs.Althougb Lender may take action under this paragraph ; . . _
<br /> _ � 7,Lender does not have to do so. rrower secured b this . '.
<br /> .� ';,y .
<br /> pny amounts disbursed by Lender under this paragraph 7 shall become additional debt o
<br /> Securiry Instrument. llnless Borrower and Lender agree to other terms of payment,these amounu shall bear interest from the .
<br /> • ' r �i date of disbursement at the Note ra[e and shall be papable. with interest, upon e.^..ice fcom lxnder to Boaa��er requesting ' , .,
<br /> •��,: . � q payment. .
<br /> � S.Mortgage Insurance.lf L,ender required mortgage insurance as a condition of making the loan secured by this Security
<br /> lnsuument. Borrower shall pay the premiums requited to maintain the mortgage insurance in effect. If, for any reason, the
<br />' . mongage insurance wverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to
<br /> � oStain wverage substant'sally equivalent to the mongage insurance previously in ef:ect. at a wst substantially equivalent to the
<br /> � { cost to Bottower of the mongage insurance previously in effect. from an altemz:e mongage insurer approved by Lender. If . ,
<br /> , � substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to
<br /> • one-twelfth of the yearly mongage insurance premium being paid by Borrower when che insurance coverage lapsed or ceased to
<br /> ' . � be in effect.l.cnder will acceQt, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve _ . .
<br /> � i Porm 302 9/90
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