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<br /> • � 5.Harard or Property Insarance. Boaow�s6aI1 keep the improvements now existi�mg or hereafter erected on the Prope�ty .
<br /> � . insumd against Ioss by fue,hardcds inctuded within the tam"extffided coveiage" and any other harards,including ttoods or , , ,
<br /> ��. flnoding.far w6ich Leader requi�es u�surance.This ins�nanoe shall be mainrained in the amounts and for the peciods that i�ender ' .
<br /> _ requires.71�e insurance carrier provi�ing the msurance shall be chosen by Bomower subject m Lend�'s approval which shall not - .. . , .
<br /> , be unreasonably wiihheld.. If Bonower fa�s to maintain coveaage descnbed above, I.ender may, at Lender's optioa,obtain , .
<br /> , ; coveiage to pmtect Lender's rights um the Property in accordance with paiagraph 7. , _
<br /> � All insusance policies and�sewals shali be aooeptable to Leodear and shall inrlude a standard mortgage clause.I.ender shall - - -.-- -
<br /> � have the right to hold the policies and re�ewals.ff I.e�der zequires,Boaower s6all prompily give to Lcude.r all receipts of paid ` ' '.
<br /> _• premiums and re.newal norices.In the evem of loss,Borrower sLall give pmmpt aotice w the insurance c�xicr and Ix,nder.Lender •
<br /> E� • may make pmof of toss if not made prompttY by Boaower. • � .:
<br /> ��� . . UnIess l.ender and Borrower otherwise agcee in wriring, ins�uance pmcceds shall be applied tfl restoration or repair of the � _.=
<br /> �' � �P�Y�8ed,if the restoiation or iepanr is economicxlly feas�le and Lender's secauity is not lessened.If the resGnration or <. . .
<br /> t}: � cepair is not economically feasbie or Lender's s�curity would be lessened,the insuraace procceds shall be applied to the sums ' `
<br /> i° � secured by this Se�auity Insuumea�t,whether or not then dae,cvith any excess paid to Borrower. If Bomnwer 86andons the � `. .
<br /> �� ' Propaty,or does not answa withu►30 days a notice from Lx,ader t6at the insurance caaica has offered to seule a claim,then � � •y.�`�`
<br /> _, ..:r:-
<br /> Lender may wIIect tbe insnrance praceeds.I.end�may use the pmceedg�o repair or resKOre the Property or tn pay sums secured
<br />�,�:• . . by ihis 3ec�ity Insttument,whethe,r ar not the�n due.'I�e 3tWay period will beg'sa when the aoDtce is�ven. °:����''-:
<br /> #'; Unless Le[tder and Boirower otherwise agree in writing,anY aPP�on of procxeds to principal shall not extend or posKpone ` . •" '�.-
<br /> ` the due datc of the monthty payments refeaed tn m paragcap h s 1 an d 2 or c h a nge t he amo�m t o f t he paymen t s.I f u n d e a p a�a g i a p h �
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<br /> �e . : 21 the Prnperty is acquired by Lcnder,Bomnwer's right ta any insurance policies and pmceeds resulwig from damage to the . ,',`�'�-��.
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<br /> .�.�: ` ' Property prinr tn the acquisiUOn shall pass w Lacder to the extent of Wc sums secured by this Securiry Ins�ument�unediately . " .';��._:
<br /> -:s s Prior to the acquisition. ,�r
<br />. �E 6.Occupancy,Prese*vation>Maintenance and Protection of the Property; Borrower's Loan Applitatlon;Leasehotds. ' =�•.�.-t,"_
<br /> ,�; . � ' < <
<br /> ��_, Borrower shall accupy,establish,and use the Propetty as Boirowea's principal residence arithIIi sixry days after the execution of �
<br /> .t •� ��:'� �:'.,--_:
<br /> -�^ this Securiry Insirument and shall continue tn occupy the Property as Borrower's prinapal residence for at least.one year after the . �'� :"�,;:
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<br /> ;: darc of occupancy, untess Le,ndea oiherwise agrees m �vriting,which consent shall not be unreasonably withheid. or unless -".;;,�:_
<br /> .•�:; • � eactenuatiag circumstances eaist afiich are beyond Borrower's cantroL Barrower shaU aot desproy,damage ar impair the Pcopetty, ; � ..,,�.;:e: :.
<br /> ;� � . ? altow the P�operty to deterioratc,or commit was;e on the Pmperty. Brniower shaU be in default if any forfeitiue acuon or .� � � �;�-�;,.,.
<br /> .'�: .� pioceeding,whether civil or criminal,is begw►that in L,ender's gaad faith judgment could result in farfeihue of the Property or . . ,. ;L:.;:� ;.
<br /> ..��. • . tii������_:
<br /> • mhcrwisc mateaialty impair the lien created by this Sec�uity Insumnent or Lender s seauity intrsesi.Borrower may cure such a , � +.::..,..-.
<br /> • . defa�lt and reinstate,as provided in paragraph 18,by causing the action or praceeding w be dismissed with a niling ihat,in �:� ;
<br /> :'� Lender's good falth determination.precludes forfeiwre of the Borrower's interest in the Property or other material impairment of ' .�•�:�'•:
<br />- � the lien created by this Security Instrument or Lender's secmrity inusest Bosoaea shall also be in defaWt if Borrowea,during the • '•,.�.•�'
<br /> - ., toan applicaation process,gave maieriaUy false or inaccurate information or statements w Lender(or failed to provide Lender with .. : .�'`��=.
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<br /> . any material iafom�ation) in conneaion with the loan evidenced by the Note, includ'u�g,but not limited to.representa�ons . , "="
<br /> - • • � conceming Borrower's accupancy of the Plropeny as a principal msidence.If this Securiry Insuument is on a leaseho2d,Barrower � . ;�`'�'�
<br /> � shatl eomply with all the provisions of the lease.If Bonower acquires fee dtle to the Property,the leasehold and 1he fee title shall . -';:�-
<br /> `;.� �. nat merge unless Leader agrees w the merger in writing. : . . '...;;`;
<br /> ?.Protection of LeAder's Rigdts m the Property. If Bosrower fails to perform the covenanu and agreements contamed in • . � •
<br /> � this Security Instnunen�or there is a tegal praceeding that may sign�candy affect LeRder's rights in the Propaty (such as a . � ��
<br />_' �� praceeding in bankruptcy.probate.for condemnation or forfeiture or to enforae laws or regutarions).then Lender may do and pay • •
<br /> for whatever is necessary to protect the value of the Propeity and Lender's rights in the Property.Lender's actions may iaclude _
<br /> paying any sums secured by a lien which has priority over this Security Instrument,appearing in court,paying reasonabie • �
<br /> � '� attomeys' fecs and entering on the Property w makc repairs.Although Lcnder may take action under this paragraph 7.L.ender � � . �
<br />;�v � does not have ta do so. • � �
<br /> •`; � � My tnno�mis disbursed by Lcnder undet this paragraph 7 shall become additional debi of Borrower secnrcd by this Security . ` �
<br /> ' InswmenL Unlcss Horrower and Lendcr agrcc to other terms of payment,these amounts shall bear intErest from the date of
<br /> disburscmcnt at the 1Votc rate and shall be payable,with interest,upon no6ce from Lender to Bonower rcquesting payment ,�• � • ,..-• : .
<br /> 8.Mortgage Iasurartce. lf Lender rcqnired mortgage insurance as a condidon of making thc loan secured by this Security •
<br /> �.'�: � lnstrumen�, Borrower shall pay thc prcmiums rcquired w maintain the mottgage insurance in effect. If, for any reason, the
<br />, ,�:, • mortgage insurance coveragc required by Lcnder lapses or ceases to be in effec�Borrower shall pay the premiums required to . ��
<br /> ' > •� obtain coverage substantialty equivalem to the mortgage insurance previously in effect,at a cost substantially equivalent W the .
<br />_ ' j cost tn Bo�rowct of Ihe mortgagc insurance previously in effcct,from an attemate mortgage insurer approved by Lcndcr. lf � �
<br />: i substan6ally equivalcnt mortgage insurancc covcragc is not awWable,Borrower shall pay to Lendcr cach month a sum eqnal to f
<br /> . � on�twclfih of thc ycariy mort�agc insurancc prcmium bcing paid by Bonower when the insurance coveragc lapsed or ccased w .
<br /> ' be in effect. [.ender will accept, use and retain these payments as a loss reserve in lieu of mortgage insuranee.Loss reserve � .� � .
<br /> . Form 3d48 9/90 • • •
<br /> • � . ; �-BR(HE►csz�2�n+ Paoe3ois i�+naie:
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