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<br /> S. Hwzxrd �r E'roprrty Insurwn���. Hurrawrr �Itiull kcup thc imprnvcmcntx itu�v cxitidng un c�rcaftcr crcctcd un thc
<br /> Prn�xny insurcd iigi�in+l lurs hy lire. h;iii�rdti inrludc�l wUldn Ih�: tcnn "cxtcnd�Yl covcru�!c' i►nd uny uthcr hiv:�rJ,, Inriuding
<br /> fl�xx1,��r fl�xxfing. li�r which Ixndcr rcquirc� ins�n•ancc. '1'hiti in�urancc sh�dl tx�inuin�uincd in thc amou�us am�l ti,r thc�xri�xls
<br /> thnt I.�udcr rryuires. 'fhc iu,uruncc rarricr pr�widhi�!titc Inu�rimcc tihall Ix cl�o�cn hy Di,rruwcr ,uh�cct tu l.endcr'ti�q��u•�w�d
<br /> which shu�l nrn be u�iruicnnably wUhhtld. If tiur�ower luils t��nuUntGln a�vil�age detirrilxd ulwvr, l.rnder may.;u tAndcr's
<br /> �nptt�m,ut�tuin rovcr.►gc to pn�tr.ct L.e�xler's rights in the I'r��p�ny in urcord�mce with paru�;r:iph 7.
<br /> All insurnncc�licfes und renewnls tihull be ucceptuble tu Lc�xlcr and Khull incluJc n sUmdard mortguge clause. l.endcr
<br /> shall have the right t�s huld thc pnlicicr a�xi rentwals.If l.eixler rcyuires. �ir�owcr shall pramptiy givc to I,ender all rercipte of
<br /> paid premiums and renewul natires. In thc cvent of lass,Borrower shull givc prompt noticc to thc insurancc carricr nnd l.endcr.
<br /> I.ender muy makc proof of loss if not madc pramptty by Borcower.
<br /> � Unless l.cnder und 8orrower othcrwise agree in writing.insurnnc��roax�s shail bc applicd tu restoratiun or repalr of thc
<br /> Property damaged.if the restaration or repair is economicully feasibl�and Lender's sec��rity is not Iessened. If thc rcstomtian or
<br /> repair is not economic�lly feasiblt ur I.ender's security would be Icssened,the insurance ptocceds shaU bc upplicd to the sums
<br /> secural by this Security Instiument, whe�her or not then due, with any exetss paid to Barrower. If Eiorrawer nbundans the
<br /> Property. or doe,�not answer within 30 days a notice from Lender that ttu insurance carrier hus affered co settle a cluim, d�en
<br /> I.ender muy colloct the insurana procceds. L.cnder may use thc proceeds to rcpair or roscora the PtoE+c�rty or to pay sums
<br /> socured by this Security Insttument.whether or not then due.The 30-day period will begln when thc notice Is given,
<br /> Unless Lender and Barrower otherwise agree in writing, nny applicstion of proceeds ta principal shall not extend or
<br /> postpone the due date of the monthly payments refrrred to in paragraphs 1 +�nd 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender. BarrowePs right to any insurance polictes und procceds resulting from
<br /> damage to the Property pdor to the acquisition shall pass to L.ender to the extent of the sums secured by this Securiry Instrument
<br /> immedintely prior to the ncquisition. �
<br /> 6.Occuprncy,Praservntion,M�tintenAnce And ProtecNoa of the Property;Borrowe�'s LoAn Applkatbn;I.ensehold+�.
<br /> Borrower shall occupy,establish,and use the Property as Borrower's princlpal residenco wIthin sixty duys after the execution of
<br /> this SecurIry Instruu�ent and shall continue to occupy the Property as Bonower's principal residence for at least one year atler
<br /> the date of occupancy.unless Lender athernise agras in writing. which consent shall not be unresisonably withlxld. or unless
<br /> extenuating circumstances exist which are beyond Borrower's conuol. Borrower shall nat dostroy. damage or impair the
<br /> Property. ellow the Property to dcteriorate, or commit waste on the Property. Borrower shall be in default if any forfeitun
<br /> • action or proceeding. whether civil ar cdminal,is begun that in Lxnder's good faith judgtneat eoutd result in forfeiture of the
<br /> Properry or othetwise materially impair the lien created by thls Secucity Instrument or Lender's security intercst. Borrower may
<br />';� cure such a default nnd ainstate.as provided in paragraph 18,by causing the action or procading to be dismissed with a niling
<br />+�A tbat, in Lender's gaod faith doterminauon, pcec(udes forfeiture of the Borcower's interest in thv Property or dher material
<br />'; impatrnxnt of the lien created by this Security Jnstrument or l.ender's security interost. Borrower shall also bt in default if
<br />�y Borrower.during the loan apQlication process.gave materially false or inaceurau informntion or statements to Lender(or fsdled
<br />�; to provlde Lender with eny matarial Infom�ation)in connection with tho loan evidenc�d by the Note,including, but not lim[tod --
<br />_ to,rcpresentations concxming Borrowcr's occupancy of the Property as a principal nstdence.If this Security Instrument is on a
<br /> leasrhald. Borrowor shall comply with all the provistons of d�e lease. If Borrower acquires fee ttde to the Property, the
<br />— leaschold and the fce titlo shall not merge unless Lender agrees to the merger in wdting.
<br /> 7.Pnntection of Lender's It�ghts ia the Property.Tf Bornnwer feils ta perfomn the covenants and agraments contained in
<br /> tchis Securiry Instrument,or then Is a legal proc�eciing thnt may significantly affect I,cnder's rights in the ProQerty (such as a
<br /> pcocading in banktuptcy,probate, for condemnation or forfeiNre or to enforce lawa or reguladons),then L.eader may c10�nd
<br /> s • pay for whetevcr Is neoessary to protect thc value of the Property and L.ender's�ights in the Property. Lendcr's acttons may
<br /> inciude paying any sums secured by a lien whicl� has prioriry over th3s Security Instrument. appeuring in court, paying
<br />� reuonable attomeys' fees and entering on the Property to make repairs.Although Lender may tpke action under this paragraph
<br />= 7.Lender does not have to do so.
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<br />= Any amounts disbursed by Lender under this paragmph 7 shall become addltional debt of Borrower saurod by thi�
<br />- 5ecur�ty Instrument. Unless Borrower and I.ender agroe to other terms of payment.these emounts shall uear interest from the
<br /> ; date of disbursement at the Note rate and shap be payable. wtth interest,upon notice from Lender to Borrower requtsting
<br /> payment.
<br /> � 8.MoKgxge Iasunnce.If Lender roquired rnortgaga insurance as a condidon of making the loan securcd by this Securlty
<br /> Instiwnent, Borrower shall pay the premiums requircd to maintain the mortgage insurance in effect. If, for any reason. tho
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borcower shall pay the premiums requirod to
<br /> obtain wverage substandally equivalent to the mortgege insurance previausly in effect,at u cost substantiully equivalent to the
<br /> � cost to Borrow•er of the mortgage Insurance pnviously in effect, from an altemate mortgage insurcr approved by I.ender. If
<br /> substantially equivalent mortgaga insurnnce coverage is not available.Borrower shall pay ta Lender each month a sum equal to
<br /> ` one-twelfth of the yearly mortgage insurance premium being pa�d by Borruwer when the insuruna coverage lapsed or ceased to
<br /> . be in cffect.Lendet will eccept, use and reta�n these payments as a loss reserve in lieu of mortgnge insurance. Loss rescrve
<br /> Form 8028 9190
<br /> P�pe 3 at 8
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