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<br />" "°'��Q� S. #dazwrd or Prnperty Insur�nce. Borrower ehall keep the improvementa now existing or hereuftcr erected on the .,z,... �
<br />�-�—= Pippetty iusured ugainst loss by flre, hawrds includeA within the term 'extendei!coverage" and any ather horards, inctuding' �'
<br /> floods or floodinB.for wh(ch L�nder requires instunttce.Thia insuraace sh�il be maintuiaed U the amountss nnd for the petiada t� -
<br /> :'�� that lxnalar reqnires. The inauronce cFUrier providing tde jnsurance shnll be chosen by Borrower eubject to Lender's Approvni '�
<br /> � which shall nat be unreasonnbly withheld. If Borrower fails to maintain covern�e describcd nbave. L.ender may.nt Lender's ;•� �
<br /> -�� � option,obtain coveraga to protect Lt�tder's dghts in the Prnpertyln ascordnnce with parngmph 7.
<br /> - All insuranae pMicies and cene���als shal! 6e�cce�►table to L�nder nnd shat! include a standard mortgage clausc. Lendcr � �
<br />=:,� �. shall have the dght to hold the policies and e+enewals.If Lendes rtquires.Borrower shall promptiy give to 1..ender all receipts of
<br /> -� pa[d premiuma t�td renewmi notices.In the ev�nt of loss,Borrower shn11 give pmmpt notice to the insurnnce carrier and Lender.
<br /> _ i.endet may malce proof of loss iP not made promptly by Borrower.
<br />-�°'t� Unless Lender and Borcower otherwise agt+ee in wrlting, insuranoe proceeds shall be applfed to restoration or repair of the � -
<br />_ = Propeity damaged.if the restoration or repsir is economlcally fea�ible and i.ender's securtty is aot tessenod.If the restorntion or
<br /> -�_�•` cepair is not economietdily feasibls or i.ender's security would bo tesseaed,the insurance proceeds shall be applied to the sums -
<br />.,;�� secuted by thia Securlty Inatrument, whether or aot thea due, wIth any eacess paid so Borrower. If Borrower abandons the
<br /> Pra�ty.or does not anawer wiWin 30 days a aotice from Lender that the insutance canier has offered to settle a claim,then
<br /> � ` Londer muy colleci the tasurance ptoceeds. Lender may use the pmceeds to npair or restare the Property or to pay sums
<br />_.�� secured by this Security Insmimeat.whetber or not thea due.The 30-day pertod wjtl begin when We nodce is given.
<br /> -°- Ualess lxnder and Borrower otherwise a�ree in wrltiug,aay applicatlon of proceeds to principal shall not extead or
<br />_�� postpone the due date of the monthly paymenta referred to ia paragapLs 1 and 2 or change the aniount of the payments. If
<br /> undcr paragraph 21 the Prapeny is acquired�y Lender,Bo�ower's eight to any iusu��uce pollcies aad procecds resuiting fmm
<br />`'�`� damage to the P�operty prtor to the acquisition shall pass co Lender to the extent of the sums secured by this Securiry Instrument
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<br /> ira�naaliately prior to the acquisitEon.
<br />'-3�'� 6.Oocupancy,Preservat[on,Matntenunce aad Protedton of ttte Property;Borrower's Loan Application;Leasebolds. `
<br />° - Horrow�r shali oawpy.establisb,and use the Pmpercy as Borcower's prIncipal resIdence within sixty days after the execution of
<br />�:��� this Saurity Instrument and shaU wntinue W oocupy the Pcopeny as Borrower's prlacipal c+esidence for at least oae year after
<br /> ;� the date of occupaacy,uNess Letcder othetwise agrees in writing,which consent shall aot be unreasonably wIthheid,or ualess
<br /> eztenuating cjrcumsteaas exist which are beyond Born►wer's conaol. Borrower shall not destroy.damago or impa[r We
<br /> -��� Ptopetty, allow the Property to detertorate. or commit waste on the Property. Borro�ver shaU be in defaWt if aay fodeiture
<br /> i acrion or proca�ing,whether civtl or crimipal, is begun that iu Lender's good faith judgment could resWt in forfeihue of the
<br />_ —= Property or otheiwIse maurIally impair the lien cmated by this Sxuriry Instrument or Ixnder's secudty interest.Borrower may
<br /> = �s�ch s�fanit ans!rPinsssi�.as gm:�!9n gacagrs�� 28. hy csx�slug s�e scxioa ar gm�ed3a�so be dl��ct•��tsts s su2iag .
<br /> - that, in �,ender's good faitb det�rminadon. precludes forfeiture of the Bomower's intenst in the Property or other mateda!
<br /> a-` = impaitment of the Ilen cmmted by this Secadry Iustntment or LeudePs secucity inurest. Bosrower shail also be in default if
<br /> Borcower,duriag the loan applicatioa pracess,gave materlally false or inaocurate infarmatioa or statements to Lender(or failed
<br /> to pmvtde Lender witli any mat�rial infornaation)in connectlon with the loaa evidenced by the Note. including,but not timited
<br /> to.cepresentattons concernlag Bornower's oo�upancy of the Property as a principal residence.If tbis Secudty Instrument is on a
<br /> IeASahold. Borrower shall oomply with ail the pmvisfons of tliee lease. If Bonower acquires fee tide ta ttta Property. the
<br /> leasehold and the fee title shall not merge unless Leader agaees to the merger in arlting.
<br /> - 7.ProtecNon of Lender's Rights in the Pmperty.�f Borrower fails to perform the covenaats and agreeme�ts contained in
<br /> -'��� Wis SecurIty Iasuument.or thPre is a legat prnceeding tLa�may slgntficantiy affect Iender's dghts in the Property(suc6 as a
<br /> procxading in bankruptry.prnbate,for condemnatton or fos�feitae or to eaforce laws or regulations), then L,ender may do and
<br /> , pay.for whatevcr is neoes.gaey eo pmtect the value of the Prop�iry and I.ender's rights in the Property.L�eader's actions may
<br /> Include Paying any sums sa:ured by a ltea which has prIority over this Security Insuument. aPP�B in court, Paying �•,
<br /> --- - reasonable attomeys'fees aad entering on rhe Property to make apairs. Although L.ender may take ar.tion under tl�is paray,raph i�6 `
<br /> ._ ' 7,L.mder does aat have to do so. �..
<br /> Aay amounts disbutsed by I.ender uader this paragsaph 1 shaU become addIdonal debt of Botrower secured by this �.v�
<br /> Setudty Instcument.Ualess Bonower and Lender agree to oiber terms of payment. these azaounts s�al!bear iatcrest from the �
<br /> date of disbucaement at the Note rate and shall be payabp$. with uttenest, upan aotIce from [.eader w Borrower requesting �
<br /> payment.
<br /> 8.Mortgage In�arance.If Lender reyuired mortgage jnsur�nce as a condition of making the Ioan secured by this Securiry
<br /> __..___�. Insuvment. Bomower shali pay the premiums t�equired ta ma[n�in the mortgage inswance in et�ect. If, for any reasoa, the
<br /> . mortgage insurance wverage required by�.ondea lapses or'ceases to 6e in effect,Borrower shall pay the premiums required W
<br /> �� obtain vovcrage substaattally equlvalent w the mortgage•iasurana previously in effeci.at a cost substanriaUy equivalent to the
<br /> cost to Bomower of the mongage insurance pi`eviously in effect,from an a�teraate mortgage iasurer approved by I.eader. If
<br /> substaatially equivalent mortgage insurana ooverage is not available.Bon+ower shaU pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insuraacx premium 6eing paid by Borrower whcn the insurance coverage lapsed or ceased to
<br /> be in effea.Lender wIU acoept.use and�retain these paymems as a loss ceserve in tieu of mortgage insuraace. �.,oss reserve
<br /> --- Form 3028 9/80
<br /> ---_ ��BR(Nqra��x.o2 ve�aae �rouw:
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