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<br /> � S. Hpzyrd or Property InsurAnce. Borrower sh�ll keep tho improvcments now�e�adng on c�rcafl�r crected on tho
<br /> Praputy tusured ag�inu loss by Cuc, ha�.ards included within the term "cxtcndcd coven�go and any ahcr huerds, Includin�
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<br /> floods or flooding, for which[.ender requtres insurance. This insurance shall ba mnintafned in the mnounts and fa ttw paioda
<br /> that Leneler roquires. '['he iusura�� carrier providing 1he insurunr,�shall bo chosen by Borrowe� subjcc�w l.cnckx's uW:rovat
<br /> which shall not be unreasonably wlthh�ld. If Borrowu fails w maintafn coverage described above, l.ender may, at L.e�ckd'e
<br /> option.abtein coverage lo protoct Lender's dghts ln tha Property In accordnnco with paragraph 7.
<br /> AU insurance pollcies and renewals shall be acceptable to Leodcr and shaU jncludo a standard mertgaga clausc. l.ander _
<br /> shall have tho dght to hold the policies and renewals. If Lendcr requirea, Borrowu shell prompUy give w[.endcr all receipts of
<br /> paid premlums and renewal notices. In tho event of loss,Boirower shall givo prompt not�ce to the insurance cartiu and Lendu.
<br /> Lendu may make proof of lo�s if not made promptty by Boaower. -
<br /> Unless Lender end Sorrowcr atherwise agree in writing. �nsurence proceals shall be applied to reswrudan or repair of the
<br /> Proputy damsged, ff the restoradon a repair 3s economIcaUy feosible and Lendu's security is not lassened. If the restoradon or
<br /> repa[r is not economically fcasibk or I.ender's seciuIty would be lessened, tha insurance proc.eals shaU be applied tn the s�uns
<br /> socurod by this Securiry Instrument, whether a not ihen duo, with any exce.cs pa�d to Borrower. If Borrower abandons tha
<br />� Propaty. a das not answa witbin 30 doys a nodcts trom I.onder that the insurance cacrier has off�red to settle a claim, then
<br /> Lender may collect the Insurance proceeds. Lender mey use the procads w mpair or restore the Propeity or to pay sums
<br /> sxureQ by this Security Instrument,whether or not then duc.The 3Q-duy per�od will begin when ttl�ee nopicB Is given.
<br /> Unlesa I.ender aad Borrower olherwLSe agcea in wrtdng, any application of pra000ds ro qincipal shaU aot extend or
<br />:� postpone the duo date of the monthly payments rofened to ln paragraphs 1 and 2 or change the annount of the payments. If
<br /> �ncler paragraph 21 the PrapGrty is acquired by Lender, Bonower's right to any inswat�ce policies and praceeds resulpng from
<br /> darr�ge to ihe Property prlor to tha acquisidon shnU pass to Lender to the eactent of ihr suma securtd by this Security Instnunent
<br /> immediAUly pr�or co thoacquisiaon.
<br /> 6.Occupancy,PreservAtbn,M�intenance and Protectlan ot We Propertyi Borrower'a Loan ApyHcatlmn;Leaael�olds.
<br /> Borrower shail occupy,establish,and usu tfie Property av Borrower's principal tesidence within sixty days afta the exceudon of
<br />. thLg Socntity Inatniment and shall condnuo to occupy the Property ag Bocmwer's principal residenca for a[teavt oae yaar aftu
<br /> th�da�e of occupancy.unless Lenda otherwLse agrxs in wrldng, which consent shell na be unreasouobly withheld, or unless
<br /> extenuating circum�nccs oxist which era boyond Borrower's contr�oL Borrower ahall not destroy. damage or Lnpeir the
<br /> ' I�ropaty� albw tha Pmperly to detulorato, a commit waste on the Propeity. Borrowa ehall be in Cefault if any focfEipuo
<br /> . �ction or pn000eding, whetha civU or criminal, is begun�hat in I.endu's good feith judgment could result in fafeIWre of the
<br /> . Propaty ar o►.i,awlse nuteii�Uy imps4•tho Ilen crcated by ihis Sxurity Instrurnent a l.ender'e security intera� Borrowu may
<br /> curo auch a detwlt an4 rcinstue.a pcovidod in p�n�raph 18�by�ausing tha ecdon or praceeding b bo dismisaad with a ruling
<br /> tluu, in I.cnda's good failh detamination. procludo� forfeituco ot tho Borrowa'a interest in the Propa�ty or othcr mataitl
<br /> impaimx,nt of tha lierr creaed by this Sxurlty Insaument ar L�cndcr'a sxurity intaes� Bortowa sh�ll alao be in defwlt U
<br /> Bomowa.during tho lan apptk�lon proces�,gavo m�tulally falsa a Ineccurato informatlon a sntemenrs to I.endci(or failed
<br /> In provlde L.endex wtth ny matuW infonnatlon) in cunnoctlon with tho loan evidencod by tha Note, includLig. but not limited
<br />_ 10,reprexntatlons conaming Barrower'a occupmcy of the Property ng w principal nsidenca If thia Securlty Insorumeot is an a
<br /> k,a�ehold, Bortowa slul! comply with all tho provLsbns of�ha kasa. If IIarowa acguires fee title w tho Pmpecty, the
<br />� Ieavehold and tha fea titb shAll not mcrgo unkss I.ix�dcr s�oes w the mugu in wtidng.
<br /> 7.ProtectM�n of Lmder's AK6ta in the Property.If Bosmwer fails to pafam the cove�ants ertd ogroements contatned in
<br />� thls Security Instrwra�u, or thera Lc a kgal procooding tbat may signif'�cantly ett'eci Lcr�du's dghts in�he Propaty (such as a
<br /> P��B���P�9. Probate. for condemnatjo+�or forfeiwra a m enforce Iaws or ng�latlons). thcn I.ender may do and
<br /> p4y far whatever is nace.cs�y to protxt the valuo of the ProNerty and Lender's rights in the Property. L,ender's a�ti�ons may
<br /> incl�de WYNS any soms soc�urd by a lkn whicb haq priority over this Sxurlty Instcumatt, eppearin8 in cowt, PaY�B
<br /> reasonabk attomeys' fees and entering on the Pc�operty w make repatrs. Although I.enckr may talco action under 1hi�peragrnph
<br />� 7�i.enda dnes not f�ave w do so.
<br /> My amounts disburaod by I.endu unda this paca�h 7 shall bacome eddIdanal debt of Hortowu soc�ned by this
<br /> Security Ins�uma�4 Unless Boirowu and Lenda egroe o0 ottier t,erms of payment, these amounts shall bear interest from the
<br /> date of d3sb�usement at tha Noto rata end shall ba payablo. wltt� interest� upon nodce from I.ender to Homower requesdng
<br /> PBY��-
<br /> • d.Mort���e Iasn�na. If Lender requirod mortgage insurdnce a4 a cond3tion of making Iha loan socurod by this Socuriry
<br /> Instrumuu, Borrower shall pay thhis premIums required to muintain tt�c mortgego insuznnca in effect If, for any reason, the
<br /> mortgege insuranca covaage roquIred by Lender lapsss or ceases w be in efiect,Borrowe�shall pay the pnmiwns roquired w
<br /> obtain covaaga subswntially equivalent to the moctgage insurance previously in effxt, at a cast substantiaalty equlvalent to the
<br /> cost W Borrowe,f of tho moctgaga insurnnce previously in effect, from an altemato mortgaga L►suru appmved by Lender. If
<br /> subsfantially equivaknt moilgage insurance coverage is not available, Bortower sha11 pay to Lender each month a sum equal to
<br /> ono-twelfth of the yearly mortgage insurrnce premium being paid by Bomnwer when tho insurance covaage lapsod or ceasai to
<br /> be in effec� i.ender will accept, use and retuin these payments as a bss reserve in 1iw of ano�tgage lnsuranco. J.oss reserve
<br /> 91 Form 302a 3/80
<br /> �g6��NL7�ia s�.o� v.o.aor e �y(3,� 10067725
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