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<br /> ••t 5. Ha�ard or Progerty Inc,�r�ce. Borrower shall keep the impro�•ements na�v existing or hereafter erectsd on the �. -
<br /> � Property insured against toss by fire.hazards included wichin the tertn "extended coverage" and any other har.ards. includin� � ,, "
<br /> ' floods or flc�ading, far which Lender requires insurance. This insurance shall be maintained in the amounu and for the periods � • • � �= -
<br /> ;y that i.ender requires. The insuranc�carrier providing the 'snsurance shal! be cho,en by Borro�•er subjec[to L.ender's approval � . -
<br /> which shall nut be unreasonably ��ithheld. If Borrower failsto maintain coverage described above. Lxnder may, at Lender's , � � `.
<br /> '• opiion,obtain coverage to protect Lender's rights in the Property in acrnrdance�ti ith paragraQh 7. .
<br />� AU insurance policies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause_ I.ender � . : •
<br />:�-' sha!!have thc right to haid the policies and renewals.If L.ender require�.$orrower shall prumpdy give to Lender all receipts of _ _ _:; � �.. _ _
<br /> paid premiums and renewa!nouces_ In the event of loss,Borrower shall give prompt notice to the insurance carrier and L.ender. -
<br />- � Lender may make praof of loss if nat atade promptly b}•Borrower. .. , .,����_�� '� �
<br /> ' Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall he applied to restoration or repair of the _.. • r.•: �..=��': _ '
<br /> ` Property damaged,if the restoration or repair is economically feasibte and Lender's securiry is not lessened. If the restoration or �"��=�:�--•
<br /> .'Y " <":3r� ��.cy�--u�ra4_ri
<br /> repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shafl be applied to the sums _ , ..�°-�.-�A�,
<br /> � secured by this Security Instrument,wi�ether or not then due. with an excess aid to Borrower. If Borrower abandons the �"�`-T``�
<br />� � Y P ;;.,c;_, ..�..�,v._.�.__
<br /> �� Property, or does not answer within 30 days a notice from Ixnder that the insurance carrier has offered to settle a claim,then w�_,_�_
<br />' Lender may oollect the insurance proceeds. I.en�ier may use the proceeds to repair or restore the Property or to pay sums '" ."'�"�
<br /> secured by this Securiry Instrument,whethes or not then due.The 30-day period wiU begin when the notice is given. --��-
<br /> Unless Lender and Borrower othenvise agree in writing,any application of proceeds to principal shall not extend or - -�
<br /> -��i�::,.vo-.��._
<br /> postpone the due date of the monthly payments referred to in paragrap}u 1 and Z or change the amount of the payments. If �`�'-`
<br /> � under ara ra h 21 the Pro ert is aired b Lender.Borrower's ri t to an insurance olicies and noceeds resultin from `' �������
<br /> �: P g P P Y �9 Y � Y P F- S :,_��+.�_-
<br /> •� damage to the Property prior to the uquisition shall pass to Lender to the ext_nt of the sums secured by�"�s Se�:urity Instrument --- _ ---- -
<br /> immediately prior to the acqaisition. -- -- *���
<br />� � 4` -:—,-.-., �,.
<br /> 6.Occupancy, Preservatioa, Maintenaace and Protection of the Properiy;Borro�ter's Loan Application;�.easeholds. _ ___. �""•��; --
<br /> •� Borcower shall occupy,establish,and use the Property as Boaower's principal residence within sixty da�•s after the execution of '�� -
<br /> this Security Instrument and shall continue to occupy the Propetty as Borrower's principal residence f:-at least one year after
<br /> the date of occupancy,unless Lender otherwise agrees in writing,which consent sfiall not be unreasona�ly withheld. oe unless '�i�.�,,�;. _ _.r
<br /> � .� extenuating cinvmstances exist which are beyond Borrower"s control. Borrower shall not destroy, damage or impair the :
<br /> Propem•, allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeiture - ` ��
<br /> action or proceeding,whether civil or criminal,is begun that in I.ender's good faith judgment could result in forfeiture of the '��•� �:
<br /> Property or otherwise materially impair the lien created by this Security Inctrument or L.ender's security interest. Borrower may '��,� �
<br /> cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling � •`
<br />. '`� that, in Lender's gaod faith deterntination, precludes forfeiture of[he Burrower's interest in the Properry or other material ��'� '
<br /> impairment uf the lien created by Shis Security Instrument or Lender's security interest. Borrower shall also be in ��fault if :�.�,.°
<br /> Borro..zr,during the loan applipri�n process,gave materially false ar inaccurate information or statements to Lender(or fai(ed
<br /> to pmvide Lender with any material infortnation)in connection with the lann evidenced by the Note.including,but not limited
<br /> �. to,representations conceming Bonower's accupancy of the Property a,a principal residence. lf this Security Instrument is on a f �,i �___
<br />'�•!' leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee tiUe to the Properry, the � "' _---
<br /> leasehold and the fee title shall not merge unless L.ender agrees to[he n�erger in writing. ''��- ,�
<br /> �' 7.Protection of Lender's Rights in the Property.If Horrowea fails to perform the covenants and agreemenu contained in
<br /> this Security lnstrument. or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a ''°� "ar '.�
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or ta enforce laws or regulations),then Lender may do and �"`�� ;;.�--
<br /> pay for whatever is necessary to protect the value of the Properry and Lender's righu in the Property. l.ender's actions may -
<br /> . include paying any sums secured by a lien which has prioriry over this 5ecuriry Instrument. appearing in court, paying �.�•_•�*-��`_-�.:__��
<br /> reasonable attomeys'fees and entering on the Property to ma.k•�repairs. Although Lender may take action under this para�raph �,:�:_�—..-
<br /> � ��' 7,l.ender does not have to do so. .. �
<br /> � Any amounu disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this '.
<br /> , Security instrument. Onless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the __"������'-J�
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting �_,� � - • `
<br /> paymen�. —_ ''_ ��_- .
<br /> S.Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security �� v` ;, �„
<br /> Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the ""�'"'-"'""s`-"
<br /> � mongAge insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to � '• f��?�_:-
<br /> ' 1 ivalent to the ��
<br /> obtain coverage substantially equivalent to the mortgage insurance prevtously in cffect,ai a wst substant�al y equ s-
<br /> . cost to Borrower of the mortgage insurance previously in effect, from an altemate mortga�e insurer appmved by Lender. If ' .�;="
<br /> substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to I.ender each month a sum equal to ;,;;�;"_`�_`s�
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to _' . •• ..
<br /> be in effect. L.ender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �'��'��'`�
<br /> ._ ..,:r.'�dk-:=
<br /> Form3028 9/90 :;i:��ir�.,�:;
<br /> Pagc 3 ot 6 . '. �y a`•'--�=-M '
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