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<br /> 97- 106t9'�� . ��
<br /> S. Nazard or Property Insi►,.,.1ce. Borrowcr shall keep the improvemcnt�w exi�ting or hereafter erected on the �-�:�
<br /> Propeny insund against loss by fire, hazarda included within the term "extended coverage" and any other hazards, including
<br /> floods or tlooding,for which Lender requires insurance. This insurana shall be aiaintained in the amounts and for the perioda ,;.,•;
<br /> that Lender requires. The tnsurnnce carrier provtding the insurance shall be chosen by Borcower subjtct to Lender's approval .,
<br /> � which shaU not be unreasonably wlthheld. If Bonower fails to maintain coverage described above, Lender may, at Lender's
<br /> option,obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. `�:;_:;.
<br /> .�++'"�� All insurance policies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause. Lender ;.��
<br /> ti���� '�" shall have the right to hold the policies and nnewals. If Lender requires,Bonower shall prompdy give to Lender all receipts of '`�"�._
<br /> paid premiums and[enewal notices.In the event of lass,Bonower shall give prompt notice to the insurana canier and Lender. .��.��.�
<br /> I.cnder may make proof of loss if not made promptly by Borrower. `�:::�___
<br /> Unless I.tnder and Borrower otherwlse agree in wdttng,insurance proceeds shall be applied co restoration or repair of the ����-
<br /> ' Property ctamaged,if the restoration or npair is economically feasible and Lender's security is aot lessened.If the restondon or • •�_
<br /> . � repair is not economically feasible or Lender's securiry would be lessened,the�nsurance proceeds shall be applied to the suns -
<br /> secured by this Securiry Instrument, whether or not then due, wlth any excess paid to Borrower. If Borrower abandons the -_____.
<br /> � Property.or does not answer within 30 days a nodce from Lendet that the insurance catrier has offered to setde a claim, then --
<br /> - �. L.ender may collect the insurance proceeds. L.ender may use the proceeds to repaIr or restore the Property or to pay sums -
<br /> secured by this Security Instrumem,whether or not then due.The 30-day pedod will bagin�vhea the nouce Is glven. -__
<br /> � Unless Lender and Boaower otherwise agree in wr�ting, any application of proceecis to principal shall not extend or -�°
<br /> postpone the due date of the monthly paymeuts referred to{n paragraphs I and 2 or chenge the amount of the paymenu. If _
<br /> r� under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resuldng from �"-
<br /> ! damage co the Property prior to the acquisition shall pass to I.ender to�he extent of the sums secured by this Security Instrument `'�
<br /> immediately prior to the acquisition. �4
<br /> • � 6. Occupancy,Preservadon,Maintenance and Protection o[the Property;Borroeer's Loan AppUcation;Leasehold�.
<br /> . Borrower shall occupy,establish.and use the Property as Boirower's principal residence within siary days after the eaecution of
<br /> this Security Instniment and shall continue to occupy the Property as Borrower's prtncipal residence for at least one yeaz after �-'-
<br /> the date of occupancy,unless Lender otherwise agras ia writing,which consent shall aot bt unreasonably withheld, or unless _.
<br /> r: extenuating circumstances caist which are beyond Borrower's control. Borrower shall not desuoy, damage or impair the
<br />- - Froperiy, allow t�a Fr��eriy to d�i�riuratc,o:comm3c ::'s°te Qn iht PtQgsriy. Bnnowpr chall he in default if any forfeitun
<br />-� action or procceding, whethar civil nr cdminal. is begun that in Lender's good faith judgment could result in forfeitute of the
<br /> '"`� Property or otherwise mater[ally impair the licn crcated by this Securiry Instrumeat or I.ender's sccurity interest.Boaower may
<br /> cure such a default and reinstate, aa provided in paragraph 18, by causing the action or procealing to be dismissed with a ruliag
<br />�°::.s�;+':� ,!�.':� , that, in Lender's good faith dcurminadon, precludes forfeiture of the Borrower's interest ut the Property or other materid
<br />;< � ; ...' impairment of the lien created by this Secur[ty Instrument or Lender's securlty interest.Borcower shall also be in default if
<br /> �`� - ' �"� Boaower,during the loan applicatton process,gave materlally false or Inaccurate inforanadon or statements to Lendcr(or failed
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<br /> i�;,;,;',. :;�,,� to pcuviue I.cudCi witli auy tmtcrtal infarm:,ttan)!n coanectfan�•,Ith the losa evl�c�csd by the Nete,faclading,b��t no�limited __
<br /> � ,•:,, ' to.repnsentations concecning Boaower's occupaacy of the Property as a principxl residence.If this Security Instrument Is oa a
<br /> w��-�, •' leasehold, Borrower ahali comply with all the provisions of the lease. If Borrower acquins fee title to the Propecty. tLe _
<br />�'�� " '±"�� leasehold and thc foe title shall aot merge unlcss Leader agrees to the merger in wdting.
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<br /> �-::°-�`='-.:` 7,Pc�otection oi Lendu's Righta in the Property.If Borrower fails to perform the ooveeT.nts and agnxmeats containod in
<br /> s�ra^�.'��'�,.. � .
<br />..�._�;?M�•%rU;}y�,.• this Sectuity Instnunent. or there is a legal proceeding that may significandy affect Len_,�er's rights in t6e Property(n�ch as�
<br />=�,�,��:�'� ' proeeeding in bankruptcy. probate, for condemnatioa or forfeicure or ro enforce laws or regulations),tben Leader may do and
<br />�;�;��v-�� pay for whatever is necessary to protect the value of the Properry and Lender's rights in the Property. Lender's actions =nty
<br /> =�'�:��, include paying any snms secured by a lien which has prlorlry aver this Security Inaavmtnt, appearing in court, paying
<br />��''� �'` reasonable aaorneys' fas and entering on the Property to make npairs. Although Lender may take actioa under this paragraph
<br /> - T���,;,,-� 7,Lender does not have to do so. -
<br />-�*g:?��'r_ . Any amounta disbursed by L.ender under this paragraph 7 shall become addidonel debt of Borrower secured by thb
<br />—'•'•`�""."� Socurity Instrument. Unless Borrower end I.eader agroe to other terms of payment.these amounts shall bear�nterest from tlie
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<br /> --=;;;,;�'v� date of disbursement at the Note rate aad shall be payable, with interest, upon notice trom Lender to Borrower requesting _-
<br /> °`:::�;,a`=;`:`, paymeat. _.
<br /> "�;'�" ';�;`r 8.Mort�age Iagurance.If Lender required mortgage insurance as a condition of making the loan securod by this Securiry �.,_
<br /> -;• �-�� ����"� Instn�mcnt, Borrower shall a the nmiums nquired to maintain the mortgage insurance in effect. If, for any reason, thc
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<br /> , mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required ro
<br /> - oUtain covecage substantially equivalent to the mortgage insurance pnviously in effixt, at a cost substandally equivalent to the
<br /> cost to Boaower of[he mortgage insurancc previously in effect, from an altemate mortgage insunr approved by L.ender.If
<br /> substantially equivalent mortgage Insurance covernge Is not available,Borrower shall pay to Lender each month a sum equal to �- __
<br /> onatwelRh of the yearly mortgage insurance pnmium being paid by Borrower when the insurance coveraga lapsed or aased to ':_�-
<br /> be in effect.Lender wffl accept, use and retain these payments as a loss reservo in lieu of mortgage ins;uance. Loss reserve � `,:�.'�_
<br /> � fotm 3028 9/80 `
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