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<br /> . ;� �,� 5. Hiuurd or Property I�tuur�►nr;e. Il�n•rowcr shull kecp thc impr�rvementy nuw cxi+tin� ar hrrcai'tcr crzctcd cm thc
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<br /> Prup�rty insureci nE�rainti� lu4s Ny firr.. hn.�;u•ds includcd within thc tcnn "extcndcd cuvcragc" uud uny uthcr hat.tu•ds, including
<br /> ❑onds or floodii�.. fur which l.�ndur r�:�aufre� in,uruncc. 1'his insur.�nw sh;dl bc nmintuinrJ in thc nmowus und for thc periu s
<br /> • thnt I.endcr rcyu.ires.Thc inr.ur;mcc ri�rricr providing thc insur,uuc shnll bc chu,cn by Bnrruwcr suhjcct tu l.cndcr'ti i�ppraviil
<br /> �vhich tihull not h�: unrcu�onubly withl�r,ld. If E3orrowcr tnils to mnintuin covCrugc describcJ abuec. l.cndcr may. ;�t I.cndcr's
<br />°�- _'"'- -- option.uhtain cc,veragc to prou:ct Lxmlar's rights in thc Property in accorduncc with panigruph 7.
<br /> =,� All insuraur.c {�licics und rrncwu':s shnll bc ucccptablc to L,endcr und shull includc a standurd mortgagc clausc. l.cndcr
<br /> _ --.-;�: shull h;we tBc ri�h� to hold the pnlicii:a;uid renewnls. lf l.endcr requires. Borrowcr shall prompQy give to Lcndcr ull receipts uf
<br /> ' paid prcmium5:u�d rencwul noticea. Iu xhe cvent of lass,Borro�ver shull give prompt notice to thc insuruncc carricr and Lcnder.
<br /> .��.� I.ender muy nuikc prouf of Ic�ss if nat m1�de promptly by Bonower.
<br /> �, ...
<br /> •' Unlcss L,eitder antl B��rru�ve► oth�;Pwisc agrcc in a�riting, insurancc proceeds,hall be applicd to restoration ar repair of the �_
<br />,:,.._i;.f., �.. Propeny damaNe�, if thc rest��ratinn nr repair is economically feasiEle and i.ender's security is not lessened. If the restoraUon or
<br />._ replir is not ecun�micully feusiblu or L.r:nder's security would b�lessened,the insuranee proceeds shall be applled to the sums
<br /> �' ` secured by th:�s Security insuvment. :��hether or not then due, with any excess paid to Horrower. If Borrower abandons the
<br /> �°'`��� Property, or dnes not answcr within 3�)days u notice from i.ender that the insurance carrier has offered to settle a claim,then
<br />��"�_
<br />_•-_���� Lendcr muy �:ollc.ct the insurance prr,ceeds. C.ender may use the proceeds to repair or restore the Property or to pay sums
<br />.�._nF%�it�
<br /> sccurc�i by t6;�i Se�urity Insti'+.mient, <<�hether or not�hen due.'The 30-day period will begin when the notice is given.
<br /> Unlcss �,cnder and B,t►s:.uwer c:thcrwisc agrec in �vriting, any application of proceeds to principal shall not extend or _
<br />-_-�-:�'4 , postpor�c the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. lf
<br />-;;�, under parogrr,�li 21 the Propeny i��ar.quired by Lender.Borrower's nght to any insurance policies und proceecls resulting from _
<br /> d:unafic to thc Property prior to tlie acyaisition shaU pass to l.ender to the extent of the sums secured by this Security Instrument
<br />-��:t��_� �
<br /> immediately E�rior to the acquisition.
<br /> •,:;-,� 6.Occupta��y,Freservatf.nn, h9uintenunce and I°�2�ction oF the Property;Borrower's Loan Appllcat�nn;Leusehold9�
<br />,�� Borrowcr sh:sf5 ozcuPy. estublish, und use the P�•operty ns:9orrower's principal residence within sixty days after the execution of
<br /> _ - this Security lnstrument and shtdl continue to accupy the Propeny us Borrower's principal residence for at least one year after
<br /> -=�"'"`� the date of occupancy. unless Lenci�r othenvise agrees in writing, which consent shall not be unreasonably withheld, or unless
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<br /> —= extenuating circumstunczs exist wl�ich are beyond Borrower's control. Borrower shall not destroy, damage or impair t e
<br />—__'-'�`-�� p:�r�rt;, ��l1�vJ thq PrcmerCv tn deeeriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br />~�~�-��a action or procecding. �vhuher civil or criminal, is begun that in Lender's�ood faith judgment wuid resulc in fariciiwo o.`t,�e _
<br />---W-��� Property or otherwise materiully iuipair the lien created by this Security Instrument or Lender's security interest. Horrower unay
<br /> -=�'— cure such a default and reinstt►te,an pravided in para�ruph 18,by c��using the action or proceeding to be dismissed with a nsling
<br /> that, in Lendcr's gnod faitli determination, prccludes forfeiture of the Borrower's interest in the Property or other material
<br /> -�-� impairment uf thc lien created by this 5ecurity Instnjment or Lender's sec4rity interest. Borrower shall also be in default if
<br /> Borrower,dc�:rin�the lofln app►ic�ition pcocess,gave materially false or inaccurate information or statements to ixnder(or failed
<br /> to provide L,ender with nny matcrial infotmation)in connection with the loan evidenced by the Note,ineluding, but not limited
<br /> � to, represent:�tian:;concernin�;Sorrowcr's occupancy of the Property as a principal residence.If this Security Instrument is on a
<br /> (caseliold, Y3orrawer shnll comply with all the provisions of the tease. If Borrov�er acquires fee title to the Properry. the
<br /> Ieasehold anrt ehe foe tide shnll nnt mergc unless Lender agrces to the merger in writing.
<br /> 7.PruG,�eti�n of Lender'y IElghts in th�Property.If Borrower fails to perform the covenants and agreements contained in
<br /> � this Security� [nstrument,or then i�a legal praceeciing that may significantly uffect Lender's rights in the Property (such as a
<br /> proceedins in bankrnptcy, prob�te, for condemnation or forfeiture or to enforce laws ur regulations), then Lender may do and
<br /> pay for whnt�:ver is necessary ta protect the value of the Property and l,ender's rights in the Property. L.ender's actions may
<br /> inetude pnyi�8 any sums secu��d by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> — rcasonnblc:�tcorneys' fces anci cuterinB on thc Pro}x:riy to make repairs. Although Lender may take uction under this paragraph
<br /> 7,Lender docs not hnvc to do sa.
<br /> Any �+n�ounts disbur.zcxl by L.cader under this paragraph 7 shall become additional dsbt of Borrower secured by this
<br /> = Sccurity Instrument. Unless Bo�rower and Lender a�rec to other terms of payment, these amounts shall bEar interes[from thc
<br /> date of dis6urscmcnt at the Note rate and shall he payable, with interest, upon notice from Lender to Borrower mquesting
<br /> ; payment
<br /> S.Montga�e Insm�ancx.IE Lcnder required mortgage insurance us n condition of making the laan secured by this Security
<br /> �_—= Instrument. C3orrower shall pey the premiums requircd to maintlin the mortgage insurance in effect. If. for any reasan,1he
<br /> ��.�;� mortgage ineurnnce coveruge rcquirect by Lender lapses or ccascs to be in effect,Bonower sh�il]pay the premiums requircd to
<br /> .�ti�;��� obtain cover.��e substanti�ily equivalent to the mo��tgage insurance previously in effect, at a cost substantially equivalent to the
<br />-v���� cost to Borrower of the mnrt�age insurance previuusly in effect, from an altemate mortgage insurer approved by L.ender. If
<br />_':;=;p�,'�`'`,?.�► substantially eqoivalent mort�n�e insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to
<br />'•i�.'�?�S'x�< ^ one-twelfth of the yearly mort�;age insi+aflnce premium being paid 6y Borrower when the insurpnce coverage tupsed or ceased to
<br /> r•'�""'•"" be in effect. i.ender will necept, use ared retain these payments as a loss reserve in lieu af mortgage insurance. Loss reserve
<br /> '..�t'.cki�;y.
<br /> ."'"- Form 3028 6`80
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