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<br /> S. NacArd or Pro{►erty Insuru�xc. Honowcr tihap kc�.p tl�c empruvcmcnts now exislinv un c�rcafter crcctcd on thc
<br /> pro�xny insured ugainst loss hy Pire, haz:�rds incluJed within tlrs icrni "extendcd �:overage" a�id an}� uther hu�arJ.r, including
<br /> flixxls or flaxling. for which l.cndcr rcquires insurancc. Thiti intiuranc:c tih►dl lx: maintained in th�;auec,�.ints and far thc�xricKis
<br /> that I.rndrr r�yuirc:y.'fli� intiuranrc carricr pr���iding thc imurunr.c+hall bc chnscn by Burr���vcr �,uhjr�.t t�� Lendcr's apprnvul �
<br /> which shall not bc unrcasonably withhcld. If Borrowcr fails tu maintuin covcragr dcsrribcd abovc, La:ndcr �nay, at Lcndcr's
<br /> optiun.obtain caveragc to pror�xt I,cndcr's�iglits in thc Prnpc:rty inaccordancc with pa�abruph 7.
<br /> All insurunee poliries anJ rcnewals shaU Uc ucccptablc tu !_cndcr and shull includc a swnJard mortgage clausc. l.enJcr
<br /> ,haJl havc the right to hold thc policies and rencwals. If Lcrder requires.Bnrrower sh�dl prompUy give to I.crvJer all receipts of
<br /> paid prcmiwns and renewal notices.In the cvent a6 loss.Bon•ower sh�ll give prompt noticc to thc insum+Tce carricr nnd Lcnder.
<br /> Lc:nder n�y�nake proof af loss if not made pmmptly by Borrower.
<br /> Unless l.ender nnd�orcower otherwise agrec:in writing. insurance proccals shall bc appliexi co n:storntian ar repair of the
<br /> Ptt►perty da�naged. if the restoration or repair is economically fer�sible and Lender's Secarity is not lei�sar�ed.If the restaration or
<br /> rc}�air is not cMOnonucally feasible or l.e�uler's security would t►e lessened, the ii�surancc prc�eeeds shal3 be appliod to the sums
<br /> se�ured by this Security Instrum�ent, whether or not then duc, wiih any exccss paid to Borrow4r. �f Borrower abandons the
<br /> pmperty,or does noc answer within 30 dxys u notice from l.end�r that the insurance carrier ha:.nf6:�ed to settle a cluim, then
<br /> I..ender may collect the insurnnce proceeds. Lender may use th�proceeds to repalr or restore tlu Property or to pay sums
<br /> securod by this Security Instrument,whether ur uut then due,'€'!�c 30 d�y periad will begin when tht notice is given. _._
<br /> Unlas Lender and Borrower othenviso ugree in writing. any applicution af praceeds to principal shall not extend or
<br /> postpone the due clate of the monthly paymcttts referrcd ta in p:uagraphs ! nnd 2 or chungs the.amount nf the payments. If
<br /> under paragraph Z 1 the Property is ncquired by Lender. Bu�mwer's right to uny insuranca polieie�and proceeds resulting from
<br /> damage to the Properry prior to the acquisitlon shall paFS ta I.endcr�o the extent�of the sums sxured by this Securlry Instrument
<br /> immediaeely prior to the acquisition.
<br /> 6.Oocupancy,Preservation,Maintenance and Pmtcctlan ottf�e Property;Iiarrnwer's LoAn AppUcation;I.eASeholds. _
<br /> Bonower shall occupy,establish,and uso t(x Property us Borrower's principal r�.sidenca within sixty days after the execution of
<br /> � this Serurity Instrument and shall continue to occupy the.4'roperty es Bormwer's prit�ipciJ irsicience for at least one year after
<br /> . the date of occupancY. unless I.ecdec othenviso agroes tn writing,which consent sh�i! ttot be unreasonably withheld, or unless
<br /> ; extenuating circumstences exist which aro beyond Bo�rro�vac's �rontrol. Bc�rrowor shall noe destroy, damage or impair the
<br /> . Propecty,allaw tne�ropecry co ddcuo►�. a;c:,r.�:a::::���.•.s �:�!h° Prn��ty. Rtxmmver shall be irt def8ul� If Ar►Y foTfeiCUle
<br /> , uction or proozeding, whether civil or criminal,is beguc�that in l.ender's good fa+th judgm��t could�+esult in forFeiture of the
<br /> .{ property or othtrwise mataially impaur the Iten created by this �+ecurity Tnstn►m:nt or I.ond�r's security interrst. Bonower muy
<br /> - curo such a default end reinstete,as prov[ded in paragraptc 19+ bY cau:+ir��tht•raetdon or praoc.�ding to be dismissed with a ruling
<br /> thu, in Lendar's good faith determinatfon, proclud¢s farfGituco of rthe•BorroivG+'r, interest in the PropeRy or othor material
<br /> , impaim�cnt of thc licn ersated by this Security [nstrumsnt,or,l.en�r's secudtp sntorest. Borrower shall also be in default if
<br /> Bocrower,during the loan application prace.4s,gavc materintiN�fniso or fnaccurnca information or statements to I..ender(or failod
<br /> ta provido Lxndcr with any mxcuial information)in oonnection��vifh�tht lnan evidonced by du Note, including,but not limit�ad
<br /> . to.rcpresentacions concernia8 Bar►'ower's ooeupuicy of the Proptrty as a princip�l residena.If this Security Inst�ument is on a
<br /> �easehold, Botrower shafl comply with all the provisions of tho leasc. If Burinwer acquires fee tidc to the Propercy, the
<br /> � leaselwld end the fa titlo shall na merge unless Lender agroes to the merger in wr�ting.
<br /> '� 7.protatlon of i.ender's Righta 9n the PrupertY•If Borrower fails to parform the covenants and agroement�cont�innd in
<br /> ' this Security Instrument. or thore is a legal procecding that may sig�ificantly affoct Lerxler's righta in the Property (such as a
<br /> p���ns �n ban{c�uptcy,probate, for condemnation or forfeitu�e or to enforce laws or regulations), then Lender may do and
<br /> , puy for whatever is nooessary to protect tha valuo of the Property and Lender's rights in the Property. Lsnder's actions may
<br /> include paying any sums secured by a lien which hns priority over this Security Instrument. appearing in court. paying
<br /> � reasonable aaameys' fees and entcring on tho P�nperty to ma{ce npairs•Although Lender may take action under this pangraph
<br /> ' 7,I..ender dc�es aot have to do so.
<br /> ^ Any amounts disbursed by Lender under this paragraph 1 shall bxome acldttional d�bt of Borrower secural by this
<br /> - Security Inswment. Unless Borrower and Lender agrx to other terms of payment,thcse amounts shall bear interest from the
<br /> date of distwrsement at tho Note ratc and shall be payablc. with intercst, upon notia from Lender to Borrower requesting
<br /> PaYment.
<br /> ' S.Mo�e Iesurana•If Lender required mongage insurance as a condition of rtuking the loan securod by this Securisy
<br /> Instn�ment. Bomower shall pay the premiums roquircd to mainuin the moRgage insurance in effect. If, for sny ca�on. the
<br /> mortgage insurance coverage reyuired by Lender lapses or ceases to be in effoct. Horrower shall pay the prr,miums requirod to
<br /> obtain coverage substantiaUy equivalent to the mortgage insurana pnviously in eifxt,at a cost substantially oquivalent to the
<br /> cost tu Borrower of the mortgage insurance previously in effect,from an altemate mortgage insurer appeoved by Lender. If
<br /> substantially u�uivelent mortgage insurana coverage is not available.Borrowe�shall pay to l.ender each month a sum equal to
<br /> one-:welfth of the yearly mortgage insuraixx prcmium being paid by Borrower when the insuru�ce coverage lapsod or ceasod to
<br /> ' Ix�•in effect.Lencler will accept. use and retain these payments as a loss reserve in lieu of nwrtgage insurancc. Loss reserv�
<br /> Fortn 3020 9l80
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