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<br /> �, 87-� st�1
<br /> � 5. Hs�i.wrd or Prnperty [nvurance. f�+rrowcr tiliull kccp thc improvcmcnh now cx�lking un c�rciiftcr crcctcA un►hc
<br /> Pru�xrry insurcd ubaln.r•t losy hy firc, hs�.�rds included within thc tcrm "rxtcndcd ruvcrugc" und uny othcr hu•ra�nlr. Includlnb
<br /> flcxxls ar Iltxxlli��, for which lAndcr rcquires intiuruncc.'fhis insuruinr+hall hc m.�intuincd in thc umuunts unJ for thc�rkKls
<br /> thut IAndcr rcyufrcy. '1'hc Intiur,�nrc ciuricr providing thc in�uri�ncc shnli hc chnscn hy Horrowcr suh�cct to Lcndcr's nppruvul
<br /> wl►ich ,hull nut hr uiura,uuubly wi�hhcld. lf ll.n•ruwcr fuily lu IllUllilill❑ CUVCI'11�C tIC�CI"IIKII ahuvc. IAnQcr ivay, at l�:isJcr',
<br /> aption,obtuin cuvcrngc a�protcct l.cndcr's rightti in thc Pru�xrty in arcordunrc with puragraph 7.
<br /> All insur.incc p��lirics and renew;ds sh�dl bc ucreptuhle to Lendcr und sh�dl include u titandurd mungube clause.L.einlcr
<br /> shull huvc the right a�hold thc policles und rencwuls. If l.cndcr rcyulres, Borrower shull pramptly give to Lendcr all reccipts af
<br /> paid premiums und renewul notices.in the event of loss,Borruwer shall give pmmpt nutice ta the lnsurance cnrrter nnd Lender.
<br /> Lendcr may make proof of loss if nnt madc promptly by Borrawcr.
<br /> Unless Lender und Borrawer atherwise ugree fn writing,insurancc praeeds shull be upplied to restoration or repnir of thc
<br /> Araperty dumaged,if the restoratiun or repuir i�economically fe:isible and Lender's security is not lessenod.if d�e restorutian or
<br /> repair is not economicnlly fessible or Lender's security would be Iessened,the insurance proceeds shall be applIed tu the sums
<br /> secur�d by this Security Instrument, whether or not then due, with any exc:ess paid to Bonower. If Borrower ubandons the
<br /> Property,or does not answer within 30 duys a natice frum I.ender that the insurance carrier has offered to settle a cAuim. then
<br /> Lender muy collect the insurunce proceeds. Lc:nder may use the proeeeds to repair or restote the PropeRy or to pay sums
<br /> secured by this Security Instnrment,whether or not tlien due.The 30-day period will begin when the notIce is given.
<br /> Unless Lender and Borrower otheiwise ugree in writing. any application of proceeds to principal shall not extend or
<br /> postpone the due date of the manthly paymcnts rcferred to in paragraphs 1 nnd 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by I.ender. Borrower's right to any insurance policies und proceeds resulting from
<br /> damage to the Property prior to the ucquisition sh�ill p;iss to Lender to the extent of the sums secured by this Security Insuument
<br /> immedlately prior to the acquisition.
<br /> 6.Occupnncy,Preservatlon,biaintenancc und Protectton of the Property;Borrower's Loan ApplicAtion;Leaseholds.
<br /> Borro�ticr shull occupy.establish.:uid use the Property ae Borrower's principal residencc within sixty days After the execution of
<br /> this Security Instrument and shall coretinue to occupy the Property as Borrower's principal residence for at teast one year efter
<br /> the date of occupancy, unless L.ender otherwise agrees in wrlting,whicli consent shall not be unreasonably withheld. or unless
<br /> extenuating circumstances exist which ere beyond Bonower's contrul. Borrower shall not destroy. damage or impair the •
<br /> Property,allow the Property to dcteriornte,ar commit waste on the Property. Bonower shall be in default if uny forfeitu�e
<br />- action or proceeding, whether civil or cdminal, is begun that in Ixnder's good fuith judgment could result in forfeiture of the
<br /> Properry or otherwise materially impair the lien created by this Security Instrument or i.ender's security interest. Borrower may
<br /> cure such a defnult und reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismiued with a ruling
<br /> that, in Lender's g«xi faith determination, precludes forfelture of thc Aonower's interest in the Peoperty or uther mater3al
<br /> impairment of thc lien crcated by this 5ecuriry Instrument ur Lender's security interest. Borrower shall ulso be in default if
<br /> Borrower,during the loan application process,gave materially falsc or inaccurate information or statements to I.ender(or failed
<br /> to provide Lender with any materIal information)in connection with the loan evidenced by the Note,including,but not limitad
<br /> to, representations concerning Borrower's occupancy of the Properry •rs a principal residence.If this Securiry Instrament is on a
<br /> lcaschold, Borrower shuU comply with all the provisions of the lease. If Borrower acquires fee title to the Property.the
<br /> leaschold and the fee title shall not merge unless Lender Agrees to the merger in writing.
<br /> • 7.Protection of I.ender's Rlghts in the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> this Security Instrurr►ent, or there is n legal ptoceeding that m1y signlficantly affect L.ender's righu in the Property (such as u
<br /> procceding in bankruptcy.probacc,for condemnation or forfeiture or to enforce luws or regulations), then Lendcr may do encl
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. L,ender's actions may
<br /> include paying any sums secured by a lien which has priority over this Securiry Instrument. appeuring in court, paying
<br /> reasonable attomeys'fees and entering on the Property to make repuirs.Although I.ender may take nction under this pamgraph
<br /> 7,L.ender does not have to do so.
<br /> Any umounts disburset� by l.ender undcr this parngraph 7 shall become additional debt of Borrower secured Ay ihis
<br /> Security instrument. Uniess Horrower and Lender agree to other terms of payment,these amounts shull bear lnterest frorn the
<br /> date of disbursement at thc Note rate and shaU be payable, with interest, upon nottce from Lender to Borrower requesting
<br /> payment. �
<br /> 8.Mortgage insurance.If Lender required mortguge insurance as n condition of makin�the loan secured by this Security
<br /> Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If. for any reason,the
<br /> morti3age insursnce coverage nequired by Lender lapses or ce;ises to be in effest,Bonower shall pay the premtums reyuired to
<br /> abtuin coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalcnt to the
<br /> cost to Borrower of the mongage insutance previously in effect,from an ulternate mortgage insuret approved by Lender,Tf
<br /> substantielly equivalent mortgage insurnnce coverage is not avnilable, Borrower shall pay to Lender each month a sum equ�l to
<br /> onc-twclfth of thc yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of moagage insurance. [.oss re.serve
<br /> Form 3028 9180
<br /> Pcqe 3 010
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