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<br /> 5. Harard ur Propert� Insurance. Burrou�er �hall keep the impro�ement, naw ex�+ting ��r hereafter erecteci on thr '.' , _ ^'�'� •
<br /> Prupert} intiurctii again�t I��.s b} fire, hav.aril, meludc�i w�ithin�he temi 'extendcYi iuverage"and an} uther h:uud., inrluding �,�°,:
<br /> tlood�ur tloud�ng. tor w�hich Lender rcyuire. in,uranre. Thi.in+urancc,hall be maintained in the:unuunt�and for the periods ., � " '�_—c-
<br /> i�:
<br /> that Lxitdcr requirc.�,. The in�uranre rarrier pro�•idin� the in.urance +hall be rhu.cn b} Burruwer+ubiert tu Lrnder',appmv:il • -
<br /> � which +hall not be unreasonably withheld. If Borrower failti to maintain r�mersge dc�rribed abr��e. Lender may. xt L.ender'+ .�._
<br /> option.obtain coverage to prote��t Lxnder'+rights in the Property in accordance with paragraph 7. - - ' � _-
<br /> .�t'f.;.
<br /> Alt ia+urance poliriey and renewals shali be acceptable to Lender and .hall include s standard mortgage claune. Lender . , -
<br /> shall have the right tu hold the policies and renewal5. If L.ender requirc�.Borrow•er shall promptly give to Lender all reteipu of • .,: . � : --
<br /> •� paid premium,and renewal notues.In the event uf los,, Burrower shall give prompt notice tn the in�uranre carrier and Lender. • � ••
<br /> = Lender may make proof uf Io�a if not made promptly by Borrower. -- =- ,----- '-x-
<br /> Unless Lender and Borrower otherwise agree in writing. insurance proceeds�hall be applied to resroration or repair of the , + � <
<br /> Property damaged. if the restoration or repair is economically feasible and Lender's security is no[I�,sened. [f the restoration or . . ,.` �-�
<br /> ` repair is not economically feasible or Lender's security would be lessened, the insurance procceris shall be applied to the swns ... --•:r�c,�:°,�`_
<br /> ��i,,•::.: ,
<br /> secured by this Security instrument, whether ot not then due, with any excess paid to Borrower. If Borrower abandons the �.`;;� ;,,-:-
<br /> Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then . . .:��
<br />.'.. Lender may collec.t the insurance proceeds. Lender may use the proceeds to repair or restore the Praperty or to pay sums :
<br /> secured by this Securiry Instrument,whether or not then due.The 30-day period witl begin when the notice is given. ,;�r:�'---�-__•
<br /> Unless Lender and Borrower othenvise agree in wriUng, any application of proceeds to principal shall not extend or ��. '-.��-�:''""'^�__°
<br /> , postpone the due date of the monthly payments referred to in paragiaphs 1 and 2 or change the amount of the payments. If � =�-���
<br /> under paragraph 21 the Property is acquired by Lender, 8onower's right to any insurance pnlicies and proceeds resulUng from , � �^ �
<br /> ' , damage to che Property prior to the acquisition shall pass w Lender to the extent of the sums secured by this Security Tnsaument -... wT"�'-"°
<br /> `. immediazely prior to the acquisition. •• ��
<br /> %--:�--- -
<br /> � 6.Occupancy,Preservat�on,Maintenaace and Protection of the Property;Barrower's Loan Applicadon;I.easeholds. �• �#�,-`r-,_-_-
<br /> Borrower shall accupy,establish,and use the Properry as Borrower's principal residence within sixty days after the eaecupon of '�_�,�����..''`:--
<br /> ���- this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after --�,;,,. .-�„ .�
<br /> the dace of occupancy, unless Lender otherwise agrees in writing,which cansent shall not be unreasonably withheld,or unless ' T ' p.�
<br /> :_, �. '�".
<br /> � extenuating circumsiances exist which aze beyond Borrower's control. Borrower shall not �e�Sroy. damage or itnpair the ' §�f;,�:.
<br /> Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture , �'���° �
<br /> ..._�. � ���.h�._.
<br /> . action or proceeding,whether civil or criminal, is begun that in Lender's good iaith judgment couid •esult in forfeiture of the -.*�.. -- T-- , :
<br /> � Property or otherwise materially impair the lien createti by this Security Instrument or Lender's security�nterest. Borrower may
<br /> . cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismtaced with a ruling '-;,� ,
<br /> that, in Lender's good faith determination, preclucles forfeicure of the Borrower's interest in the Property or ather material "xr�:.:: ' ;�Yi ��..+� �-
<br /> �. impairment of the lien created by this Security Instrument or l.ender's security interest. Borrower shall also 6e in default if �:`, �
<br /> Horrower,during the loan application process,gave materially false or inaccurate information or statements to Lendar(or failed r; r�'
<br /> � to provide L.ender with any material inforn:ation)in cannection with the loan evidenced by the I�[ote, including, but not limited , ;� �f"
<br /> ` to,representations conceming Borrower's accupancy of the Property as a principal residence.If this 5ecurity Instrument is on a �� '_-
<br /> �. leasehotd, Bortower shall comply with all the provision� of the lease. If Borrower acquires fee tide to the Property, the ..%i{3�� �•
<br /> leasehold and the fee title shall not merge unless Lender agrees to the merger in writ+_ng. _ _` �)t�` � ��-�
<br /> .. ,�.:�::�..-�:
<br /> ' 7.Protection of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreemenu contained in .,,,f,-�._., •.
<br /> � this Security Instrument. or there is a legal praceeding that may significantly affect Lender's rights in the Property(such as a - _
<br /> { proceeding in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and ,-._..• �'?"-�'_'
<br /> . �4 pay for whatever is necessary to protect the valae of the Properry and Ixnder's rights in the Property. Lender's actions may � ' --
<br /> d include a in an sums secured b a lien which has nori over this Secwi Instrument, a earin in court, a n _ � M��•�
<br /> P Y 8 Y Y P � �Y LY PP S P Yf g . . . . .y Y;n:
<br /> reasonable attomeys'fees and entering on the Property to maPce repairs. Although Lender may take acrion under this paragraph �_�.
<br />. 7,Lender does not have to do so. � � �
<br /> � Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secured by this !.�--
<br /> Security Instrument. Unless Borrawer and Lender agree to other terms of payment, these amounu shall bear interest from the — -_ "-
<br /> '!� date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting i��� =
<br />_ _' 1 payment. �fv,-,-rn�.�.a�.
<br /> ' .�� S.Mortgage Insa�rance.if I.ender required mortgage insurance as a condition of making the loan secured by th�s Security - -- � �._
<br /> Instrument. Borrower shall p�ay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the �1 r'�""'`�"'�= -
<br /> ' � mortgage insurance wvenge required by Lender lapses or a�ses to be in effect,Borrower shall pay the premiums required to ,� ''.`
<br /> obtain covera�e substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the �'.�,.:��..�'�~W'"s*'�'
<br /> • ,•} cost to Bonower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by l.ender. If ��s�_'
<br /> B rrow r shall a to Lender each month a sum ua!to �"''
<br /> substantially equivalent mortgage insurance coverage�s not ava�lable, o e p y e9 ,
<br /> � ��� one-twelfth of the yearly mortga�e insurance premium bcing paid by Borrower when the insurance coverage lapsed or ceased to � �"`
<br /> .
<br /> be in effect.Lender will accept.use and retain these payments as a los.s reserve in lieu of mortgage insurance. Loss reserve � �-�{" ~rt ~,�—
<br /> " �+ Form3028 9/90 �•�.--� �--s.-�''.
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