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<br /> S. Hazard or 1'rnperty Insurance. Borrower shull kecp che improvement�oa �existing or here�fter crected on thc
<br /> Property i�isure�l ag�iii�st I��ss hy fire, h�u�ras iiiclu�ed �vithin the term "extendecl cc�vera�e" .md any other huxnrds, ineluding
<br /> flcxxis nr fl�xxling, fiir which IAndcr rc�paircti intiurnncc. 1'his insur�u►ce.h:+tl hr miiintain�.l in thc amnunts and fi�r thc�cri�xt4
<br /> t(nat Lend�r requires. The insurunce currier providing the in:surance shall be chosen hy Burrower +ubject t�� I-snder's upprovul
<br /> which shull nat bc unrc.isonubly �vitlihcld. If Borrowcr fails ta maintnin cuvcrugc dcticribcd ubovc, L.cncfcr may, ut l.cndcr's
<br /> option,obtain covcrngc to protcct L.endcr'.r rights in thc Properly in uccurdancc with paragruph 7.
<br /> All insurancc policies und renewuls shull be ucceptable ta l.ender und shall include a standurd moregage clause. l.ender
<br /> shall liuve the right ta liold the policieti nnd renewids. If I.cnder requires,Barrower shall promptly give to Lcndcr all receipts af
<br /> pald premiums and renewal natices.In the event of lass,Barrower shall give prumpt noticc to thc insurance carrier and Lender.
<br /> Lender may makc prcwf of lass if nai made promptly by Borrower.
<br /> Unless I.ender und Bonnwcr othenvise agrec in writing,insurnnce proceeds shall be applied to restoration or repair of the
<br /> Property damuged.if the restorutian or rcpair is economicnlly feasible and l.ender's security is nnt l�ssencd. If the restaratian or
<br /> repair is not economicnlly feasible or Lender's security would be Iessened, thc insumnce procr.eds shall be npplicd to the sums
<br /> secured by this Security instrument, whether or not then due. with uny excess puid to Borrower. If Bonower abanduns the
<br /> Property, or does not imswer within 30 days a notice fcom Lender thut the insurnnee currier hns offered to settla a claim, then
<br /> I.ender mny collect the insurnnce proceeds. Lender may use the procceds to repair or restore the Property or ta pay sums
<br /> securai by this Security Instrument,whether or not then due.The 30-day pertal w!U begin wfien the notice is given.
<br /> Unless Lendcr and Borrower otherwise ugree ln writing. any app�irati�n of proceeds to principal shall Rct extend or
<br /> postpone the due date of the monthly payments refern:d to in parngrnphs l und 2 or changc the umount of the paymen�s. If
<br /> under pa►�agr.sph 7.1 the Property is ucquireci by Lendcr,Borrower's right to any insurancc poltcles and procceds resulting from
<br /> ; dnmage ta the Properry prior to the ucquisition shnll pass to Lender to the extent of the sums secured by this Security Instrument
<br /> - immcdiatcly prior to the acquisition.
<br /> ' 6.Occupancy, Pn.-wervetlon,MAintenance wnd Protecdon of the Property;Borrower's LoAn Applia►tion;LeASeho�ds•
<br /> Borrower shull occupy. establish,and use the Property as Borrawer's principul residence within sixty dnys after the execution of
<br /> this Security 1nstNment and shall continue to occupy the Property as Borrower's princtpul residence for at least one yea�afier
<br /> _ ��rlatr of occupancy. uniess I.ender otherwise ngrcxs in writing,which consent shall not be unreasonably withhcld,or unless
<br /> extenuatinE circumstances exist which nre beyond &�rmwer's cantrol. Borrower shatl not aestr�y,damage or i�up+ar tf�e
<br /> Properry. allow the Property to deteriorute, or cummit wustc on thc Property. Horrower shall be in default if any forfeitura
<br /> actlon or procxding,whether civil or criminal.is begun thut In Lender's good faith judgment could rault in forfeiture of tha
<br /> Property or otiunvise materinll,y impair the Iten crcated by this Security Instrument or Lender's securiry inurest.Borrower may ,
<br /> ' cure such n defuult and r¢Instnte.as provided in pacagraph 18,by causing the action or proceeding to be dismissed�vith a ruling
<br /> that. in Lender's good fafth determination, precludes forfeiture of thc Borrawer's interest in the Property or ather material
<br /> ' impairment of the lien creutal by this Securlty Instrumcnt or Lencier's secudry fnterest. Bottowor shall also be in defrult if
<br /> Borcower.dudng the loan applicutton process.gnve muteriully false or inaccurate Information or statements to I.ender(or fniled
<br /> � to provide Lender wlth nny material information)in connection with the toan evidenccd by the Note. including,but not limited
<br /> to. repre�cutaiiui�s wu:.e�+���.g^:.::��rr'c ozcupancy of the Prorerty ec n principai residence.If this Saurity Instn�ment is on a
<br /> teusehold. Borrower shail comply with ull the pmvisions of the lease. If Bonower ucquires fee title ta the Praperty, the
<br /> leasehotd and the fee title shall not merge unless Lcnder agrees to the merger in writing.
<br /> ' 7. Protecttun of i.ender's Righte in the Praperty.If Bonower fails to pr,rform thc covenants und agreements eontained in
<br /> ' thts Security Instrument,or there is a legal proceoding thut may significantly affect Lender's rights in the Property(such as a
<br /> procoociing in bankiuptcy,probatc. for candemnation or forfeiture ar to enforcc laws or regulntions).then l.ender muy do und
<br /> � pay for whatever is i�ecessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums securod by a lien which hus prtority over this Securtty Instcument, appearfng in court. paying
<br /> '' re�onable attorneys'fees and entering on thc Property to makc repairs. Although L.cnder may takc action uncler t8is paragraph
<br /> 7,L.ender does not have to do so.
<br /> Any amounts disbursed by I.ender ��nder this p:uegrnph 7 shall becomc addidonul debt of Borrower securc:d by this
<br /> Security Instrument.Unless Borrower nnd Lender agrec to other terms of pnyment, these amounts shxll bear int�rest from thc
<br /> date of disbursement at the Note ratc und shall be puyublc, with intcrest, upon nottce from Lendcr to Borrowcr requesting
<br /> payment.
<br /> 8.MortgAge Insurance.If Lender requircd mortgage insumnce as a condition of making the loan secured by tt�is Securiry
<br /> Instrumcnt, Borrower shull puy tlie premiums requircd to muintain the mortgagc insurancc in effcct. If, for any reason, the
<br /> mortguge insursnce coverage required by L.ender Inpses or ce�ses to be in effect, Borrower shnll pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurance previausly in effect,at A wst subsmntially equivalent to the ,
<br /> � aost to Bnrrower of the mortgage insurance previously in effect, from un ulternate mortgnge insurer uppmved by Lender. If
<br /> substnntinlly cquivalcnt mortgage insurance covcrnge is not evailsble,Borrowcr shali pay to Lender each month A sum equal to
<br /> one-tv�cifth of tl�e ye�.rly mon�age insurance premium befng paid by Bonower when the insurnnce coverage lapsed or ceased to
<br /> be ln effect.I.ender will nccept,use;uid retuin these payments as u loss reserve In licu of mortgage insurance. Loss reserve
<br /> ' Form 3028 9l80
<br /> PeOe 3 01 B
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