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<br /> 97� �n4i41
<br /> S. llaz�M or I'mperty Insurxnce. Rorrower sh;�ll kcep the impro�•cnknts nciw existin� on c�rcafler crcctcJ im the
<br /> Propeny insu�M1 :�gainst loss by fire, huzarcls includcd within Q�e�cnn "extcndcd aw�ragc"imd uny uthcr harard�, inr.luding
<br /> Iloods or O�oding, for which l.cndcr rcyuires insur.�nce. This iii�urancc shidl tw maintaiixd in thc umountr►and ti�r thc prri�xls _
<br /> that Lcr.d¢r z-cyuirc�. Thc �nsurancc carricr pro��IdinF thc insuranc�shall hc r.hnscn by Ilr.r.utit•cr;ubject tn Lcndcr's appn�s•al --
<br /> whirh til�all cx�1 t�c unrcasonably withhcld. if Borro���cr f�ils to n�aintain covcragc Jc.�srih�xl at►nvc, l,cixtcr map, u� I..�ixlcr's
<br /> optian,obtai�mve��ge to protcct I..ender's rights in the Praperty in accardancc with paragraph 7.
<br /> All ins�rance policies anci retxwa.ls shuU be acceptuble to l.ender and �hull include u standnnl monguge clause. I.e�xier
<br /> shal!haveihe right to hold the policics and rer�:wAls.If l.crxler rcquires,Borrou�cr shall prornpdy givc to L.cixi�r all rc�cipls of
<br /> paid premiume and renewal notices.In che event of loss. Bc�rrower shall give procnpt ix�tice to�hc in:,urrnce carrier utxl l.eiuier.
<br /> lxndcr nuy rnnke proof of loss if not matic prompdy by Borcau�tr.
<br /> Ualcss��der and Borrow�r otherwise agrce in writing,inrairance prcxceds shall bc applied to rcstr.ration or rrpuir nf tl�:
<br /> Pruperty d�muged,if thc rcstoration or r+epnir is cxonomicull�fcasible and L�:oder's security is iwt IcESencd. If the resii�ratfon or
<br /> rc{�nir is iat eronomically feusible or Lender's securiry would b�; Iessencd. th�:insar�ncc promecis shnll M:ap{�licd to tM:suntA
<br /> socuR�d ay this Security Insqvment, whetl�er or rwt dten due, wi[I� any excess pnid to sorrower. If Borcowrr ahundans [he
<br /> P�v�eRy.or dors not answer within 30 days a notice f'rom I.cncicr that the insu�ancc carrier has offcrcd to settle a duim, then
<br /> Lendcr rmy collect the insur�ncc prooecds. l.c;nder may use the proatds to repuir or rcstore tt�e Propcny or to pay wms
<br /> securod i�y ihis Soc:urity Irutcument.wl�ethcr nr noe then due.'1'he 30�day period will begin w�Jticn thc notice is givcn.
<br /> Ilnlas i.ender and Borrower ati��rwist agrcc in writing, any application of ptnceods to principal shall rat extend or
<br /> postpone Ihe due date of thc monthly paymentx refern,d to in paragraphs 1 and 2 or chengc the amount uf thc p•ryntents. If
<br /> under par+graph 21 tbe Proparty is acqaimcl by I.ender, gomower's right to any insurance policies and proct+�ds rcsulting from
<br /> damage to ihe Property prior to the scq�iisition shall pass to Lender to the extent of the sums securod by this Securiry lnsteunu�t
<br /> immediutely prior to the acquisition.
<br /> 6.Oavp�ncy,Preservatbn, !Naintenance xnd Protectlon of the Prnperty;BorroM•cr's[.o�n Applicatian;I.eavelw�lds.
<br /> Borrower�hall occupy,establish,and nse the Property as 8orrower's principa9 rtsidence within siaty days after the exoc�tion of
<br /> this Security Inurumer►t.:md shall contint�e to a;cupy the Proporty as Borrower's princip�l r+esidenct for ot deast one year after
<br /> the due of occupsney,uNess [.encier othenvise agrocs in writing. which ooaxnt shall no1 be unr+easonably withheld, or unless
<br /> extenuxti��g circumstances cxist which are 6cyond Borrower's control. Bnrmwer shall not destroy� daa�ge or impair the
<br /> czoperiy.aiic�w ine e-roperty co de[eriora[e. or cosrunit waste on che Fropeny. �sotrower snaii oe in deiauh i[any �orieiture
<br />.� �ction or procraling, whether civil or criminal,is i�egun that in L.ender's good•Tiuth judgment oould resulrc in fodeituce af the
<br /> Property a ottKnvise materially impair the lien areutal by this Security Inst�u�ru:nt or L.endor's security interest. Borrower may
<br /> cure such�default and n:instatc,as pravidod in p1�:�graph 18.by causing the action or procooding to be dismissocl with a ruling
<br /> that. in Lender's good faith deterrnirtueion, prccludes forfeitune of thc Borrower's intecest in tta: Ptoperty or other miattrial
<br />� impairmc�nt r�f the lien c[�e�ted by this Secuuty In,tirontont or L,endcr's socurity interest.Borrowrr shs�ll alao bc in default if
<br />- Borrow�r,during tho loati�application pc+ocess.gave muteri�lly false or inaccurate infornwtioa or statement�rto I.tnder(a fiilai
<br />' w provide Lcnder with any nwterial infomwtion)in connoction with the lonn evi�ocwoci 6y tho Note,including. but riot limitod
<br /> to,rcpresentatiau conceming Bornower's occupency of the Property as a princlpal residcnce. If this Socurity Instcument is on a
<br /> leasehold,Borrower shall comply with al! the provisions of the lease. If Bomower acquit�es fa tide to the Ptnpeny. the
<br />_ Icasehold nd the fa title shall not mergc unless[.cnder agre�s to tlk merger in writing.
<br />- 7.Protectfon ot I.end�r'e RE�hts in the Pnopaty. If Borrower fails to perform the ooven�nts�uxl agr+xments containod in
<br /> thls Sxu��ty Inctnrment, or the�e is a legal prooeecling that may significantly affect[.e�xler's rights in the�crt}• (such as a
<br /> �� proonxiing in buiiwptcy.probAte, for condemnation or forfeiture or to enforce laws or reguluions).then Lender may do�nd
<br /> r pay t'or what�ver is nec��sa[y to prUtect the value uf the Pmpetly w�i Lencler's rights in the Pmperty. Lelldti's aCtiot�It1fly
<br />;, include paying any sums securod .by � lien whi�h has priorir1 uver this Security Instruma�t, appearing in conrc, �xYing
<br /> rcasoruble utnmeys' fees end entering on the Pm�rerty to make repairs. Although Lender may take action under this paragraph '
<br /> 7. Lendc;r do�s noi have to du so. •
<br /> • Any unounts disbutstd by d.,ender under this paragntph 7 shall brcome additional debt of Borrower secu�d by dus
<br /> ' Security Inurvment. Unless Borrower und[.ender agrec to other tcmu of payment,tha5e�mounts shall bear Intcnst from the
<br /> date af disMersement at the Note rbte.uxl st►sil be p�►yable. with intercst. upon �atice fxn-r.n Lendcr to Borrower cnqtKSting
<br /> WY��-
<br /> ' 8.M�rtg�e ieeunnee. If Lernier roquired mortgage insulanoe as a condition of m�{cing the loan socurod by�his Sa�rity -
<br /> ' instrument,Borrowor shall pay the pt+emiunu crqnired to maintain the mortgage inwr.uwe in cf[ect. If, for iny rea.son, she
<br /> mortg�ge i�suru�ce coverage requined by I.ender lapse3 or reases to be in effect, Borrower sh�ll pay the prcmium9 mquirod to
<br /> obtain coveruEe substantially oquivAlent to the mortgage insurar�ce pm.vinusly in effect, at A oost substantialty equival.:nt to the
<br /> cost to Borrower of the mortg�e �nsurance previously in cffu;t, from an altemate mongage insurcr approved by L.ender. If
<br /> substantially equivalcnt ainortgage insursna coverag;.is not availablc,Borrower shall p:.y to Lender wch manth a sum�unl to
<br /> . one-twelflh of thc yrru�y enortgage insorarae premium lx�iug paid by Borrower wlicn thc insurance cover�ge lapsed or oeaxci to
<br /> • be in cffect,L.,c��dcr will aoecpt,use and rttain these paynxnts as a loss teserve in lieu of mortbage insura►xc. Loss restrve
<br /> - Fam 302a 9l80
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