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-- -r< . -_ — .�,— , . , ' . ' , _ 1 � � 97- ��5�� !: . ` . � � �� - 5.HaTard or Property Insursnce. Borrower shall keep the improvements now exisring or hereaRcr erectcd on the Proper[y • . insured against loss by fire,hazards included witbin the term"eactended co�erage" and any other ha7ards,inclading floods or � � �-. ' � - Qooding,for which L.ender requires insurance.This insurance shall be mA�n a;ned in the amounts and for the periods that L.ender � � � requires.T7ie insurauce carrier providing the insu:ance shall be chosen by Borrower subject to L.ender's appmval which shall not �€ . . , ,.:.. be unreasonably withheld. If Borrower fails to maintain coverage descn'6ed above, Leader may, at Lender's option, obtain f _ . - wverage to protect Lender's righu m rhe Praperty in accordance with patag�h 7. € — _ ---� All insarance policies and renewaLs s6all be acceptable to Lenda and shall inciude a standard mortgage clause.I.ender shall � � . have the right w hold the policies and renewals. If Lender requires,Borrower shall prompdy give tn Leuder all receipts of paid f � , premiums and renewal noticES.In the event of loss,Borrower shall give prompt notice ro the��*�nce cairier and I.ender.Lender � � may make proof of loss if not made pmmptly by Borrower. ' �: `L"��`. Unless Lender and Borrower otherwise agree in wripng,iusnrance praceeds shall be applied to restoration or repair of the "'�'�. • ��:...°. Property damaged,if the restorari�on or repair is economically feasible and Lender's sec�uity is not lessu►ed.ff the restnration or � •� __.�� ' repair is not economically feas�le or Lende�'s secarity cvould be lessened,the insuiance proceeds shall be applied to the sums , �°��r:�_ sec�ued by this Security Insunmeat, whether or not thea due, with any excess paid ta Borrowra. If B�ower abandans the ! � ��=''�=�-- ;.� � • .: �.'-M1:: Property,or does noi answer withm 30 days a noace from I.euder that the ins�nnce carrier has offeaed to settle a claim,then � ,• � Lender�ay collect the;n��nee pmceeds.I.endea may use the pnoceeds w repair or restore the Propeny or w pay suu�s secured ( . ;.'—�• ua • by this S�auity Insuument,whethea or not then due.The 30-day peaiod will begu►when the noiice is given. f ��.��+�''.- Unless Lender and Borrower otherwise agr�e in writing,any application of proceeds tn p�cipal shall not extend or postpone ! . • •�; _ ��;,^;�- the due date of the monthly paymeats referred ro in paragraphs 1 and 2 or change the amount of the payments.If under paragraph ! _ ��• - 21 the Pro �s u'ned b L,endea.Boirowea's ri t to an ins�uance hcies and resultin from e w the � '' �`�� P�Y � �1 Y 8� Y �u Po� P� 8 �8 ''�� Propeaty prior tn the acquisition shall pass w Lender to the eztent of the sams secured by tfi�s Security Instrument immediately � -��-��_.�. - prior to We acquisition. �5' >'4,�i:�„_ ,- 6.Oscnpancy,Preservation,Maintenance and Protection of the Property; Borrower's Loan Appl�qtion;Leaseholds. � ; �+ � -�r: :. � Borrower shall occupy,establish,and use the Property as Borrower's principal resideace withm sixty days aftea the execution of � • � � this Secariry Insuument and shall conm►ue to occupy We Propeity as Borrowex's prin a p a l resi dence for at least one year a f t e r t he �, �.� ��` •,�� date af occupancy, unless Lendea otherwise agrees in wri�ing, which coasent shall not be unreasonably withheld, or unless ' � : � �: extcnuaring circamstances exist which are beyond Borrowa's control.Borrower sball noL desuoy,damage or impair the Prapeaty, , � � � � �- ' allow the Property to deteiiorate, or commit waste on ihe Property. Borrower shall be in default if any forfeiUue action or � � .. procee�ing,whethea civ�7 ar criminal,is begun tluit in Leader s gaod faith judgment could result in forfeitiue of the Propesty or „_ ' T�" � e ;, • oth�wise marraially impair the lien created by this Security Insm�ment or I.endzr's security interest Borrowa may c�e suc6 a ;; �.. � defa�lt and reinstate. as provided in pacagraph 18,by causing the acsion or proceeding w be dis�nissed with a niling d�at,in . ,: �� .; Le�d�'s good faith deteamination,precludes forfeiaue of the Horrower's interest in the Piv�rty or otha material impaument of ' , °}" �`l`'.� ` tha uen�at�by this S�auity Inso�ment or L.endu's s�nriry interest�Borrower shall also be in default if Bo�ower,during the . ,�•.� ':�,� • loan applicarion proce.�.s,gave materiaUy false or inaccurate information or statements to L.end�(or failed to provide I.endea with . :�r n�,�: ` ,� ' — any material informanion) in connecuon with t he loan evi den c e d by t he Note, inc lu d'n ig, but not l i m i t e d to, representations f t=,,..,..�- conceming Borrower's occupancy of the Propesty as a principal residence.If this Security Inswment is on a leasehold,Borrowa . �."'� �---__= shall comply with aU ihe provisions of the lease.If Borrower acquires fee dtle to the Property,the teasehold and the fee 6He shall '*�•L, � .. �-�: — not mage unless Lendea agrees w the merger in wridng. ,, -��_ 7.Protection of Lender's�tig�ts in the Property. If Borrower fails to peaform the covenauts and agreements contained in `•` . �'''��" this Se�uriry Insuument,or there is a 1e8a1 Proce�in8 t�at may significandy affect Lender's rights in the Property(such as a r'�:�.�. ;:.'�°=�'_ __ . proceed'u�g in banlwptc,y,pm6ate.for condemnation or forfeidue or w enforce taws or regulations),then Leccdea�may do and pay . ��e, for whatever is neces.sary to protect the value of the Property and Lender's rights in the Property.Lender's actions may inctudo - . ��,�� . PaYing any sums secured by a lien which ha� priority over this Security Instrumeat, aPA�B in co�ut,PaYinB reasonable • "_'e. .�'.�i::--—_ auomeys' foes and eat,ering on the Prnperty to make repairs.Although I.ender may take action under ihis paiagraph 7,Lender � �,,: does not have w do so. ��.,_'"��.:..�•`'.:� �.•._.�, . Any amounts disbiused by Lender under this paragraph 7 shall become additional debt of Bonowea secured by this Seauity ' � - �-M' -� Instrumeait Unless Borrowa and L.cnder agree to other terms of payme,nt,these amounts shall bear interest from the date of �� disb�usement at the Note rate and shall be payable.with inteaest,upon notice from Lender to Boaower reqnesting payment _��_.�„ 8.Nlortgage Insuaance. If Lender reyuired mortgage insurance as a condition of making the loan secured by this Security , � ' Insaument,Borrowez shall Day the premiums required to maintain the mortgage inswance in effect If, for any rr,ason, the � . • . � mortgage insurance coverdge required by Lender lapses or ceases w be in effect,Borrowe�shall pay the premiums required to � ' � � obtain coverage substantially eqwvalent to the mortgage insurance previously in effect,ai a cost substantially equivalent to the � • . cost to Borrower of the mortgage insurance previously in effect,from an ffitemate mortgage ins�approved by Lender. If • substandally equivale�t mortgage insurance wverage is not available,Borrower shall pay to Lender each month a sum equal to �`. � — on�twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to . ' '. . �_- be in effect Lender will accept,use and retain these �ayments as a loss reserve in lieu of mortgage insurance. Loss reserve . � Form 3028 9/90 � - ��BR(N�f9212).Ot Pap�3 016 Imt�ais: . . ��':: O . �P i t �-. � ' . , .. � �_.:. , . . t� . • � . ' , • • � � . , . � . . � •--y '' �- Y . . • . a . . ' ... ' � - .. . _. .. � ,.. � .. • ' . . _ � _ . _ . . '_ • • � � _ ' . . ' '.. .� '' , .I � . . . •.. .• . . • , .� � . . . ! • • �• 1 � �.1' .