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<br /> . 5. Hura+rd or PruExrty lusurunrc. R�+rr���rrr�hull krcp thc impr�n•cnuntti OUN' CXl�llll�! ur hrrcaft�r crrcird un thc
<br /> Pr��pert�•in�urc�l a�ain+t lu+� by firc, h:uard� inclu�lcJ within thr tcrm "cxicndrd ru��cra�:�" and :iny othcr ha�ar�l,, in�ludin�
<br /> ilu�id, urllcuKlin�. Fur which Lrndrr rr��uirr.in�ur:�ncc. 'I'hi, imur:mrr+h:dl hr m:untuin�J in Ihr umuunt�;uid(ar Ihc�xriixl�
<br /> that Lctxlcr rcyuirc.. Thc in�ur�uu�c:u•rier pru��idinr ih� in+uranrc+hall hc rhu�cn hy li��rn���•rr +uh.lc�•t tn l.rudcr', appn►val
<br /> �vhirh ,hall nut hc unrra+�,nahly withheld. If Hurm�lcr failti tu maintain co��erug� dc,�rihrd ahirvr. Lrndcr rna��. at l_cnd�r's
<br /> opuun. nbt:�in ruvcragc tu prouct Lcndcr'�rightti m thc 1'ru�x:ny in arcurd.mrr with parugrapli 7.
<br /> All inaurancr pe�licie, und renrwals shall he acmptuhle li� l.ender and�hall include a standard mi�rlg;i�c clau+e. l.�n�.1rr
<br /> shall ha�•c thc ri�ht ta hold thc�xilicics and rencwals.If Lender rcyuires.Burnnvcr shall prampdy givc ti� Lenaicr all rcrciptti af
<br /> paid premiumx and renewal noticcs. In the event of lass. Dnrcawer shall givc prompt nuAire ti�the in+ur,mcc carricr and IAndcr.
<br /> Lendcr m1y m:tkc prcwf of luss if n��t ntadr promptly 6y Borrowcr.
<br /> Unlcss Lender nnd Bnrrawer�uhcrwi�c agrce in writing, insuruncc prixceds shall be applicd tu resturmion nr rcpair nf thc
<br /> Propenydamaged,if the restoratian ar repair is economically feasible und I..ender'.xecuriry i,nut Ir,�enrv,lf the rehtorntion ar
<br />• repair is not economically feasibl.°or Lender's securiiy wauld be lessened, the insurunce proceeds shall be applieci to the sums
<br /> secumd by this Security Instrument, whether or not�hen due, with uny excess paid to Borrower. If Borrower abandons the
<br /> Property,ar does nat answer witliin 30 days a noticc from l.ender that the insurnnce carrier has offere,�i ta secde u claim, then
<br /> L.ender may collect the insurance proceeds. Lender may use the praceeds to repair or restore the Propeny or ta pap sums
<br /> secured by this Security Instrument,whether or not thcn due. The 30•day period will begin when the notice is given.
<br /> Unlcss Lender and Bonowcr atherwice agree in writing, any application of procceds to principa!shall not extend or
<br /> postpone the due date of the monthly paymcnts referred to in paragraphs I and? or change the amount of the payments. If
<br /> under paragruph 21 the Propeny is acquimd by Lender, Barrower's right to uny insumnce policic and proeeeds resulting from
<br /> damage io the Prapeny prior[o the acquisitian shall pus to Lender to the extent of the sums s��ured by this Security lnstrument
<br /> immediaicly prior to the acquisition.
<br /> 6. Occupancy,Preservatlon, Maintenance and Protection of the Property;Burrowe�'s I.oan Appllcation; l.easeholds.
<br /> BonowershaU occupy, establish,and use the Propertyas Borrower's principal residence within sixty days ufter the execution of
<br /> this Security Instrument and shall continue to occupy ihe Property ns Borrower's principal residence fur at Ic:�st one yeur aRer
<br /> the date of accupa�uy, unless Lender othenvise agrees in writing, which cansent shull noc be unreaconaL^ly��iYhheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, dama�e or impair the
<br /> Property,allow the Property to deteriorate, or wmmit waste on the Property. Borrowcr shall be in defaul2 if uny forfeiture
<br /> action orprceeeding, whether civil or criminal, is begun thut in I.ender's good faith judgment could resulc ir� forfeiture of the
<br /> Ptaperty or otherwise materially impair the lien created by this Security Instrumeat or l.ender's security in[erest.Borrower may �
<br /> cure such a default and reinstate,as provided in paragraph IR.by cnusing the action or proceeding to be dismissed with a ruli�q
<br /> � that, in Lender's good fnith determination, precludes forfeiture of the Barrower's interest in the Property or other material
<br /> impairrnent of the lien created by this Security Ins[rument or Lender's«curity interest. Horrower shall also be in defaulL if
<br /> , Bonower, during the loan application process,gave rnaterially false or inaacurate inforn�ation or statemen�s to Lender(or fai led __
<br /> to provide Lender with any material informatton)in cannection with the loan evidenced by the Note,including,but not limited
<br /> ` to, representations concerning 9orrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> . Ieasehold, Borrower shall comply with all the provisions of the lease. If�orrower acyuires fee title to the Propeny, the �
<br /> leaschold and the fee title shall not mcrge unless I.ender agrees to the merger in writing.
<br /> 7.Protoction of I.ender's Rlghts In the Property. If Borrower fails to perform thc�bvenants and asreements contained in
<br /> � thls Security Instrument, or there is a Iegal proceecling chat mny significantly affect Lender's rights in the Property(such as u
<br /> ' proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce Inws or resulutions),then Lender may do and
<br /> pay for whatever is necessary to protect the vulue of the Property and Lender's rights in the Property. I.ender's uctions may
<br /> include payins uny sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> reasonable attomeys' fees and entering on the Property to make repairs.Although Lender may take action under this paragraph
<br /> 7,L.ender does not have to do so.
<br /> Any amounts disbursed by Lende.r under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> , Security Instrument. Unless Bottower and Lender agree to other terms of payment,these amounts shnll bcar interest ftam the
<br /> date of disburse�nent at the Note rate and shall be payable, with interest,upon noticc from Lender to Borrower requcsting
<br /> payment.
<br /> S.hiortgage Insurance.If I.ender required mongage insurance us a condition of making the loan secured by this Security
<br /> Instrurnent. Bonower shall pay the premiums required to maintain the mortguge insurance in effect. If,for eny reason, the
<br /> mortgage insurnnce coverage required by Lender lapses ur ceases to be in effect,Barrower shall puy the premiums requiradl to
<br /> obtain coverage subswntially equivalent ta the mortgoge insurance previously in effect, at a cost substuntially equivnlent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an ultcrnate mortguse insurer approved by Lender_ If
<br /> substantially equivalent mortgage insurance coveruge is not avniluble. Borrower sh�ll Pay to Lender euch month u sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower u�hen the insurance coverage lapsed or ceased to ,
<br /> be in effect.Lender will accept,use and retain c.iese payments us a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9/80
<br /> Pege 3 of B
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