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<br /> ` 5.Ha�ard or Property Insuranc�. Borrowcr shail keep the improvemenu now existing or hereafter erected an the Property
<br /> � insured againsc loss by fue, harards i�cludcd within the term "extes►ded coverage" and any ott►er har�rds•including flaods or , • _ .
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<br /> tlooding, for which Lender require.g insurance-71►is iasurance ShaU be�°�'°�'II the amounu and for the periods that Lender i
<br /> r���.The�����pro��g�e��ran�e shall be chosen by Borrower sub}ect to I.ender's apprm�al wluch shall not ,
<br /> be unreasonably withheld. If Doaower faiLs to maintain covesage des�ibe��ove. Lender may, at L�ender's option, obtain
<br /> coverage to protect Lender's righrs in the Proper[y in assardance with patagra}�h 7. . . . .
<br /> • .� All insurance policies and renewals shaU be s.xcpsable to Lendea and shall in�lude a standard mortgage clause.Lender shall s . — —:
<br /> have the right to hold the policies and renewals.If Lender requires.BorrowEr shall prompdY give t°L.endea all�"Pu of paid ; ., �
<br /> � pm.�niums and renewal aotices.ln 1he event of loss,Borrower shall give pro�mpt notice to the iasurance ca�rier and Lender.Lender �
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<br /> may make proof of lass if not made prompdy by Bosower. � shall be agplied to nswration or repair of the � �
<br /> Unless I.ender and Borrower mhenvise agree in vuritinS,insurance pro . ,
<br /> p� ed,if the restoration or repair is economically feasible and Lendrr's security is not lessened.If the reswration or � �
<br /> �� would be lessened,the insvrance pmcceds shall be applied to the sw�ns ,
<br /> repair is not economically feasi'ble or L.ender's security . •
<br /> secured by diis Security Instnunen� Whe�►� or not then due,with a�►Y excess Paid to BaiT°wer. If Borrowea abandons the
<br /> . :� property,or dces aot answer within 30 days a notice from Lende.r that the insurance ca:rier bas offered�PaY s secured , ,�. ' _,�Ra�'
<br /> i.euder may coll�t the insurance pmceeds.Lender may use the proceeds to repa�r or restore the Property . '
<br /> d will be�when dte norice is given. �.':'.���;-�
<br /> by this Securiry Insaument,whether or not ihen due.The 30-day perio �not extend or postpone . , • � .
<br /> Unless 1.eadQr and Bomnwer otherwise agree in writing.any applicarion of�ac�eeds to principal
<br /> the due date of the monthly paymenis referred w in paragrap6s I and 2 or change the amount of the payments.If under paragraph ( . :,' .
<br /> hci�an�proceeds resultu►g fmm damagc to the 1 � �'
<br /> Zl the Property is ac4uired by Lender. Borrower's right to any insarance po� i��eait immediately ' .,:�,,
<br /> pmperty prinr to the acquisition shall pass to Lender tn the extent af the sums s�urzci by this SecuritY E .. — .'�.
<br /> prior w the acquisition. ; c�,;
<br /> 6.Occupancy.Freservettoa,MAintenance and Protectian of the Properly, Br�reawer's �.oan Application;L e a s e ho l d s. . � ..�.
<br /> • Borrower shall occupy.establish.and use the PropercY as Borrower's principal residence within sn�ty days afrer the execution of , ` .
<br /> Inswment and shap continue to occupy tt►e PcoPenY as a°m°�"�'s P��T�'��for at least one year after the . . . . • `
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<br /> t6is SecuritY '` •' ,. �` ��' -
<br /> date of c�ccupancy, nnless L e n d� o t hcrwi s e a g rees in writing, which consent sf�I•] not be un�onabor impair the PropertY. �� ` .
<br /> extenualing circumstar►ces exist which are 1�eyond Borrower's controL Borrower sha�1 not desnroy,damaS ;�: �� .:
<br /> Borrowa sha;:l be in default if any forfeiwre acrion or �r .
<br /> aUow the Propexty to deteriorate, or commit waste on the Property. .;• � ,�
<br /> proceeding,whether civil or criminal,�s beBun that in Lender's good faith judgment could result in fo�feiuue of the Property or ��. � .
<br /> ' otherwisa materiallY imPair the lien created by this Security Insuument or Lender's seau►ty interes�Borrower naay ciue such a :-��_�,.:: r
<br /> default and reiaistate,as provided in paragrap h 1 8. by c a u s i n g t h e a c t i o n o r p r o c e e d i n 8 w b e d i s m i s s e d with a ruling that,in . .'�?r+«
<br /> � or uther material�P���e . ,� ''.•-� :
<br /> I,e n d e r s good faith determinauon.Precludes forfeiturc of the Borrower's intcrest in the Property ,;
<br /> the lien created by this Securicy Instrument or Len d e r's security in t e r e s t.B o r ro w e r s h a ll a l s o b e i n d e f a u l t i f B a r ro S __�,.�
<br /> loan application process.Save materiallY false or inaccurate information or statements to I.end�(or fa�ed to pmvide Lender with . . - :�;;�';c;,,
<br /> � any material information) in connection with the toan evidenced by tlte Note, including, but nat limired w• rePresentations _ '��
<br /> concemin8 Borrower's occupancY of the Property as a principal residence.If this Sec�rity Ins�i�nent is on a leasehold,Boaower �� � .�';. '
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<br /> shaii comply with a11 the provisions of the lease.If Borrower acquires Fee pde to the Property,the leasehold and ihe fee ude shall ��_
<br /> not merge anless Lender a�ees W the merger in writing. '�':�,
<br /> • 7.P r o t e r t i on of Lender's Rights in the Propesty. If Borrswcr fails to perform tt►e wver:aT'ts and agreements contained in •�
<br /> this Security Insuument,or there is a legal proceedin8 that maY signifccantly affect I.ender's ri g hu in t he P r o p e rt Y(s u c h a s a
<br /> _ ` Pracee�ng�bankruptcy,pmbate.for wndemnation ot fotfeiture or to enforce laws or regula�ons},then Lender may do and pay .-�.. : �,
<br /> for whau.wer is necessarY w PT���e value of thc Property and Lend�'s rights in the Propersy 1..ender's acaons may iaclude ���-
<br /> � b a lien which has priority over Ihis Security Instrument,eAPean-�g �CO�• paY�g reas°nable . �,�
<br /> • PaY�B �Y �s secuted Y � . :
<br /> auomeys' fces and entering on the Property tn make repairs.Atihovgh Lender may take action under this paragraPh 7•Lender ,�,,,�._:_
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<br /> does not have to do so. . • _
<br /> � My amounts disbursed by Lende�under ihis paragraDh 7 shaU became additional debt of Bariower secured by this Security ,
<br /> Inswment Unless Borrower and Lender agree to other tams of payment,1liese amouats shall bear interest from the date of _�,�=����;
<br /> disbursement at the Note rat�and shall be payable,with interesb upon notice from Lender to Boreower requesting paymen� . �r.°�"
<br /> S.Mortgage Insurance. If Lender required mortgage insuranee as a candition of making the loan secured by this Security : . ;,,w,f _
<br /> Insuurneait, Borrower shall pay the pTeminms rcquired to maintain the rttortgage insurance in effec� If. for any reason,the . _ . �
<br /> mortgage insurance coverage requircd by L.ender lapscs or ceases w bc in cffec�Borrower shall pay the premiums required W --
<br /> obtain covem8e substantially eqw�+ale�u tn the mortgage insurance previously in effcc�at a wst substanti�7ly equivalent to che , ,.
<br /> ' wst tn Borrower of the mortgage insurance previously in cifec� tcom an altemate mortgage inswer appzoved by Lemder. If [
<br /> ' substantiallY ecluivalent martgage insurancc wveragc is not available.Horrower shall pay to Lcnder each manth a sum equal to .
<br /> on�tweffth of the yearly mort�age insurance premium being paid b/Bonower when�he insurance coverage laps�cd or ceased co ," � �
<br /> � , be in effect Lender will accept, use and retain thcse payments as a lo�s reserve in lieu of mortgage insurance•Loss reserve I
<br /> Form 3028 9/90 � , , �
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