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<br /> 5. NWx�rd or f�mperty InsuraiKe. Borrowcr shull keep thc improvcmcnts naw cxisting'on c�ra�fter crectcd un the
<br /> Propcny insured ngainst loss by firc,har.arJs included within thc tcrm "cxtcndcd cnvcragc" �md any othcr hurards, including
<br /> il�xxls ur (liKxling, for which Lcndcr reyuire� insurancc. This insura�ncc shull bc maintnincd in thc amounts nnd for thc periods
<br /> that I.cndcr rcquires. The insur:►ncc carrier providing the insurance shall bc chosen by Burrowcr subjcct to I.,cndcr's approvu�
<br /> �vhich tih.�ll nnl he Un1�C;l�oli:lh�y �vithheh�. If F3nrrc��ver fails to �naintain cavcia�;c dcscribcd abo��e, Lcndcr rnay, at Lendcr's -
<br /> option,obinin cavcragc ta protcct l.endcr's rights in thc Property in accordancc with parugwaph 7.
<br /> All insu�ance policics aixi rcnewals shall bc Acceptable ta Lcnder and slinll includc a srundard mortguge cluuse. Lcnder
<br /> shall havc thc right to hold ti�c Fx�licics and renewals. If L,ender requires. 8orrowcr shal!promptly give to I.ender all receipts of
<br /> paid prcmiums and renewal noticcs. In the event of loss, Bonawer shall give prompt notice to the insurance carrier and Lender.
<br /> [.c�ider may make proof of loss if not n�ade prompdy by Barrowcr.
<br /> llnless I.encier and Borrowcr otF�envise agrec in writing, insurence proceeds shall be applIed to restoration or repair of the
<br /> Prop;ny damaged, if the restaration or repair is economically feasible und Lender's security is not lesseneci.If the restc�ration or
<br /> repair is not economically feasible or I.ender's security would be lessened, the insurance Nroceeds shall be applied to the sums
<br /> sccur�l by this Security Instrument, whether or not then due, with any excess paid ta Bonower. If Borrower abandons the
<br /> Property. or dces nat answer within 30 days a notice from Lender thut the insurance carrier has offered to settle a claim, then
<br /> Lender may collect the insurance praceeds. L.ender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument,whetheror not then due. The 30-day period will begin when the notice is given.
<br /> Unlrss L.enJr.r u��d Bonower otherwisc agree in writing, any applicution of proceeds to princip�tl shall not extend or —
<br /> postpone the due date of d�e monthly payments referred to in paragraphs 1 and 2 or change t�e amount of the puyrnents.If
<br /> under paragraph 21 the Prop�erty is aequir�ct by I.ender. Borrower's r�ght to any insurana:polir,ies and proeeecls resulting from
<br /> damage to the k'�ropetiy prior to the aaqnisi3ion bhall pass ta Lendcr tm t�,e extent of the sums secured hy this Security Instrument
<br /> irnmerliately priar to thc ac�uisition.
<br /> b.OccuPAncy, I'reserva•tiun,Maintenance and Pro'tection of the Property; I3orrower's Loan Applicaiian;Ixasehotdc.
<br /> Dorrower shall occupy, establish,und use the Property as Borrower's principa]residence within sixty days after ahe execution of
<br /> this Security Instrument and shall continue to occuNy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupancy, unless Lender otherwise agrees in writing, which consent shAll not be unreasonably withheld, or unless
<br /> extenuating cin;umstances exist which are beyond Borrower's control. Borrower shall not destroy,damage or impair the
<br /> Pru�c;r�y, aflow the Property to deteriorate,or commit waste on the Property. Barrower shall bc in default if any forfeiture
<br /> a:.itar v:j31"'.,�a'.a,a�ii'ig.W�id�ici Livli vi i,iiii7iiw�. ii ucyu�t ijtai iu Ix�xicr'�gixxj iaiin judgmeni couid itSLLft�il �0l�CI[Ui0 OI I�10
<br /> Property or otherwisc materially impair the lien created by this Security Instrumcnt or L.ender's suurity interest.8orrowcr nuy
<br /> cure such a defeult und reinstute.as provided in paragraph 18, by causir.g the uctton or proccoding tn be dismissod with a ruling
<br /> th3t, in l.ender's gcx�d foith dctcmiination,precludes forfciture uf the Borrowcr's intcrest in tnc Property nr nther m�teri�l
<br /> Impnirnxnt of the licn rreatod by this Socurity lnstrumcnt or I.cnder'x sccuriry interest, E3��rrower shall also be in def�ult if
<br /> Bonower.during the loan upplication proces�,gave materiully false or fr►uccurate Mfomu�tiun or s��tements to Lernler(or failod
<br /> . to provlde Len�er with any rnAteri�l infonnatlan)in wnnection with thc loAn cvWcncal by ttk Note, includin�, but n�t Ilmitod
<br /> to, rcprc�entNtions coneeming Bc�rrower's axcupnncy of the Proporty as u pri�xipal re�idence. If thl9 Sexurity Instrument is cm�
<br /> � lea.sehold. Barrower shull comply with�11 the provisinns of the lease. !f Borrower r�cyuires fa title to tt� Prc►peny, tho
<br /> leasehold and the fee title atuall rwt merge unl�ss Lender•rgrces to the merger in writing.
<br /> ; 7.i"rotection ot I.etider's Rights In t!u Property.If Honower fails to perform the mvenantg wnd agnxments conUdnod In
<br /> - this Socurity Instniment. or there is a legal procading that may significantly affect Lender's rights in Ihe PropeKy(such as a
<br /> procooding in baakruptcy,prabate,for condem��ation or forfeiture or to enforce laws or regulations), ttien Lender may do and
<br /> pay for whatever is necessary to protea c•Y.hx value of the Property and LendePs rights in the Prnperty.L.encier's actions may
<br /> � include paying any sums securcd by a lien which has priority over this Security Instrument, appearing in court. paying
<br /> reasonablc attorneys'fees and entering on thc Property to make repairs.Although Lender may take actlon under this paregraph
<br /> 7, Lender docs not have to do so.
<br /> Any amounu disburseci by Lcnder under this puragraph 7 slsall become additional debt af Borcower securod by thls
<br />� �ecurity Insuument. Unless Borrower and Lendcr agree to other terms of payment,these amcunts shall bear intercst From the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from L.ender to Borrower requesting
<br /> payment.
<br /> !3.Mortgyse Insurance.If Lender mquired mortgage Insurance as a condition of�naking the loan sxured by this Security
<br /> Instrument, Borrower shall pay the pnmiums required to maintain the mortgage insurance in effect. If. for any reason, the
<br /> mortgage insurance coverage requirod by L..ender lapses or ceases to be in effect, Borrower shall pay the premiums requirod to
<br /> obtain coverage substentially equivalent to the mongage insurance previously in effect, at a cost substantially equivalent to tht
<br /> wst to Borrower of the ►nortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurancc rnverage Is not available, Borrower shall pay to Lender each month a sum cqual to
<br /> � ono-twelfth of the yearly mortguge insurance premium being paid by Eorrower when tt�e insurance mver�ge lapsed or exased to
<br /> be in effoct.I.ender will accept,use nnd retain these paymen�c us a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> � Fam 3028 8l80
<br /> i Ppe 3 of 8
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