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<br /> 5. Ha�ard or Pr+>perty Iatiurartc�i�- Burn,«rr .hail h�rp thc �mpru��ment, nu" rti�tin�. c,r h�rrafter crectctl �,n th� ' ` . .. ' . *_
<br /> Pn�pem in,ure�1 sgain�t lu,. h} tire. h:v�rJ� inr lu dr d «i t hin t hr t�r m "e r t r n d e J i„�c r s�r" :u�d am „ther h:uard,. �niluJinL • , .7_
<br /> t 7c�u J,�,r l 1ui�d t n g. f o r w h i c h L r�i J�r rc ywrc�m,urantr. Thi.�n,uranrr,hell hr nuiinaunrJ in th� .im�,unh and ti�r thc pcnud� ; ,:�
<br /> that Lrnder reyuirr.. The inwran�•r .arn�r prmilmg th� �nwran�� .ii.dl h� :h�,.rn hy H��rro��cr �u h�rrt t�, l.r n.i�r��.�p p r�,�a l ' . _
<br /> tivhi�h ,hall not hr unna,�mshl� ��ithhrW. If B�,rru��cr fad.n, nuimt:tin c�,•csai� �1�,�nhrS ah���r. Lrndrr ma}. at IAnd�r', , �':
<br /> 3 optiun.obtain co�•eragc to prutrrt Lrndcr',neht,in th�Prnprm m arc„rJanrc�+�th para�raph 7. ; . . . '- '�
<br /> '� All in�urance palirieti and rrnr«al, ,hall hc ac�cpGihle tu Lrnder anJ ,hall includr a �tan.l:uS mun�agr clau.r. [xnder
<br /> .^, shall have the right to huld thc pulic�e�at�d rritr��al.. If LenJrr rcyuircti.BurruKrr,hall prumptl} g��•e tu LenJer all rcc�ipt,of -- ---.- - - - - - -�- ,
<br /> .ud remiums and renea�al nutire,. In thr r�ene uf lu�+. B�uroaer+hail gi�•e prompt nuti�e tu thc ia.uran�e c:trri�r and I•�nder. _.
<br /> ✓ } p. p
<br /> Lender may make prunf uf lu.,if nut m:ide pn�mptly h} Burruwe�• , . �
<br /> Unless l.ender and Burruwer uthenvi+e a�rer in writing. in�urance praceeJ+�hall b�applied to re�toratiun ur repair uf[he , , , ,_
<br /> ' Property damaged. if the restaration or repair i,econnmirslly fe�s+ible:uid l-ertder'�s��:urity iti not les�ened. If thr re+toration or _ ... '. - , �: *
<br /> repair is not econamic3ily feasible ur l.ender'+security would be{essened.the insurance proceed�shall be applied to the sums ,�..r�
<br /> e . - . .
<br /> secured by this Security lnstrument. �vhether or not then due, with :sny excesti Pa�d�� B°n°�er. If Borrower abandon.� the _ ,•;
<br /> ' property, or does not answer within 30 days a notice fram Lender that the insurance carrier has offered to settl�T[�cla m' u� . '-M- +� � _
<br /> � Lender may collect the insurance proceeds. Lxnder may use the pme.eeds to repair or restore the Prc�pertY P Y ,.�. . ._ : ��,-y
<br /> �? eriod will be in when the notice is given. ,. ;, •,�3'----°:_
<br /> secured by this Security instrument,whether or nat then due."i'he 30-daY p g , • ;.�-.
<br /> ' �,�:''=
<br /> l,1nless Lender and Borrower othenvise agree in writing, any application of proceeds to principal shall not extend or _ ��._`___
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ,. ��._,. ::_�—
<br /> � under paragraph 21 the Progerty is acquired b y Lender. Borrower's right to any �nsurance policies and proceeds resulting from —� �"
<br /> d a m a g e t o t h e P r o p e r ry p rior to the a c quisition shall pass to Lender to the extent of the sums secured by this Seturity Instrument ;� . '�' -
<br /> immediately prior to the acquisilion. � �'��`'' ��`'�
<br /> 6.Occupancy.Preservation,Mainteaance and Protectfon of the Property;Borrower's Loan Applicatton;Leaseholds. - •Y-___ _ �* �__
<br /> '':` Borrower shall occupy.establish,and use the Property as Borrower's principal residence within sixty days after the execution of l s �. v Y
<br /> '�<_�� ---
<br /> - this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after . _
<br /> ' the date of occupancy. unless Lender othenvise agrees in writing.which consent shall not be unreasonably withheld,or unless :.
<br /> extenuating circumstances exisi which are beyond Borrower's control. Boaower shall not destroy. damage or impa+r the
<br /> • Propetty. allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture � �!c,.,
<br /> actian or proceeding, whether civil or criminal,is begun that in Lender's good faith judgment cauld result in forfeiture of the _
<br /> �__ Pr�perty or otherwiss materially impair the lien created by[his Security Instrument or L.ender's security interest. Borrower may ->,�, , - _
<br /> eure such a default and reinstate,as pravided in paragraph l8, by cau�ing tht aciion or procceding to be dismicsed with a ruling .'� �
<br /> � that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material
<br /> � '� irtrpairment of the lien created by this Security Instrument or C.ender's security inter�t. Borrower shall also be in default if �
<br />� � Borrower,during the loan applicatian process,ga�•e materially false or inaccurate information or statements to Lender(or failed �,, ;,.�' •� ,
<br /> . to provide Lender with any material information)in connection with the loan evidenced by the Note, inciuding, but not limited �,�_ , :�
<br /> _ _ to,representations conceming Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a ;�' 3, :
<br /> � leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Properiy. the .. �;, � �
<br /> ' leasehoid and the fee title shall not merge unless Leruier agre�es to the merger in writing. f���-
<br /> � 7.Protedion of LendEr's Rights in the Property.if Borrower fails to perform the covenants and agreements contained in - .
<br /> this Serurity Instrument, or there is a legal praceeding that may significantly affect Lender's rights in the Property(such as a '•� =.7'� -
<br /> � proceeding in bankruptcy, probate, for wndemnation or forfeiture or to enforce laws or regulations),then I.ender may do and ,'. :` " 'i�?'__
<br /> pay for whatever is necessary to protece the value af the Property and Lender's righu in the PropertY• Lender's actions may
<br /> . inciude paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying '�'���_:�
<br /> ` � reasonable attomeys' fees and entering on the Property to make repairs• Although Lender may take action under this paragraph �_ _�� __ _- R�
<br /> - 7,Ixnder does not have to do so. �°"`�-
<br /> • , Any amaunts disbursed by Lender under this paragraph 7 shall berome additional debt of Borrower secured by this �� _
<br /> . Lender a ree to other terms of payment,these amounts sf�all bear interest from the �,;���0 �''
<br /> Security Instrument. Unless Bonuwer and S - `
<br /> . � date of disbursement at the Note rate and shall be payable. with interest, upon nodce from Lender to Borrower requesting - ,��� '�
<br /> . '. payment. '- : _"'r
<br />. '-�+ S.Mortgage Insurance.If Lender required mortgage insurance as a wndition of making the loan secured by this Security ;�.,
<br /> Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect• If, for any reason, the �::_:�,.. '"
<br /> `� '-� mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay[he premiums required to ':{+�::r�
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<br /> � , obtain coverage substantially equivalent to the mort�age insurance previously in effert.at a cost substantially eGu:�alent to the ,,, ;�.�.�:
<br /> ' ' cost to Borrower of the mongage insurance previously in effect, from an altemate mortgage insurer approved Ly I.ender. If :: ,���-;_.
<br /> J.>qV�n:*F'�1�-i ' " •
<br /> ' substantially equivalent mortgage insurance coverage is not availabfe.Borrower shall pay to Lender each month a sum equal to - �"-;�.-:-L::Y:t• "
<br />�:. ' i one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to '�;.,,.,.n r,z,,,.....,�
<br /> be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve ��•�;-:��-...:.
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<br /> ° Ftr.-n 3028 9/90 � ,
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