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<br /> S. HAwrd ar Pruprrty Iasurance. Borrowcr shull kcep the improvements now exis•ting•o� her�afte�L�rected an the
<br /> PraRerty insurod against loss by tire. hauuds included within the term "extended coveragc" utsd any other hu7ards, including
<br /> flaxis or tic►oding, far which I.ender rcquires insurnncc. Thiti insurnncc shull be muintajnai in the amounts und for the perlods
<br /> that L.ender requires. The insurance currier pn�viJing d►e insu��uu�e ybull be chosen by IIorrowcr sut�(ec:t to Lr:nder's approval -
<br /> which shull nat be unreasunably withheld. if Borrower fuils to muintuln coverage de.scribed above. I.ender muy, at Lender's
<br /> option,obtuin cavcrage tn protect I.c��dcr's rlghts in thc Prop�ny in accardunce with paragrnph 7.
<br /> All insurunce policfes anct renewuls shall be acceptable to I.ender und shall include u standurd mortgage clause. I.ender
<br /> tifiall have thc rigtit to hald the policies und ronewnls. [f L.ender requires.Bonower st�all prompdy glve to Lender ell receipts of
<br /> paid prcmiums and renewul naticec.In the event of loss.Borrower shall give prompt notice to the insurnnce cxirrier and Lender.
<br /> I.ender may muke proaf of loss if not mude promntiy by Borrower.
<br /> Unless I.cnder and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rcpair of the
<br /> Property damaged, if the restoration ar mpair is economically feacible and Lender's security is not lessened.If the restorsition or
<br /> repuir is nat econamically fcasible or Lender's security would be lessened. the insw�►ce proceeds shall be applIed to the sums
<br /> xcurcd by this Sec:urity Instrument. whether or not thcn Aue,with any excess paid to Horrower. If Barrower abandons the
<br /> Properiy. or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a clairn,then
<br /> l.endcr may collect the insurance procads. l.ender may use the proceods to rcpair or restore the Property or ta pay sums
<br /> securcd by this Security Inst�vment,whcther or not then due. Thc 30-day period wjll begin when the notice is given.
<br /> Unless I.endcr and Borrower othcrwise agree in writing, any appiicatlon of proceods to principal shall not extend or
<br /> pc�stpone the due dute of the manthly payments referced to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paragruph 21 the Property is acquired by Lender.Borrower's rlght to any insurance po:icies and proceeds resultIng from
<br /> damuge to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Tnstrument
<br /> immcdiately prior to the acquisition.
<br /> 6.Occupxncy, PnservAtinn,Maintenance and Protectjon o!the Property;Borrower's LoAn Applicatlon;Leasehold9.
<br /> Horrower shali occupy.establish.and use the Property as Borrower's principal residence within sixty days atter the execudon of
<br /> thts Securiry[nstrument and shaU continue to occupy the Property as B�rrower's principal residence for at least one year after
<br /> the date of occupancy, unless L.ender otherwise agrees in writing. which consent shall not be unreasonably withheld,or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Bonower shall not destroy, damage ar impair the
<br /> Property, allow the Property to deteriorate,or rnmmit waste on the Property. Borrower shall be in default it any torfeitu�
<br /> sctton or praceeding. whether civil or criminal.ls begun that in Lender's goad faith judgment could result in forfeiture of the
<br /> Property or otherwise materiully impair the lien created by this Security Instrument or Lender's security interest.Borrower irwy
<br /> cure such a defoult and reinstate,as providcxi in paragraph 18. by causing the action or proceeding to be dismissed wIth a ruling
<br /> thut. in I.cnder'9 good faith determination. precludes forfeiture of the Borrower's interest in the Property or othcr mated�l
<br /> Impaim�ent of the lien creatod by this Secur[ty Instrument or Lender's security interest. Borrowtr shall also be in default if
<br /> Borrower.during the lonn appltcation process,gave materially false or inaccurate infom�atton or statemeats to Lender(or failed
<br /> ta provide Lender wtth any material informadon)in connectton with the loan evIdenced by the Note. including,but not limited
<br /> to,c+epresentations rnnaming Borrower's occupancy of the Yrope�ty as a principal msidence. If this Security Instnunent 3s on a
<br /> leasehold. Borrower sh�ll comply with all the provisions of the lease. If Borrower acquires fce dtle to ihe Properry. the
<br /> Icasehold and the fee tltle shull nat merge unless Lendcr agcees to the merger in wridng.
<br /> 7.Prntat�on of I.ender's Wghts in the Property.If Borrower fails to perform the covenants and agcetmeats contained In
<br /> this Securiry Instniment,or ther+e is a legal proceeding that may significandy uffect l.ender's rights in the Properry(such as a
<br /> proceaiing in bankruptcy,probate, for mndemnution or forfeiture or to enforce laws or regulations).then Lender may do and
<br /> pay for whatever is necess.vy to protect the value of the Property end Leader's righu in the Property. Lender's actIons may
<br /> include paying any sums secured by a lien which has priority over this Security Instcument, appeazing in court, prying
<br /> reasonable attomeys'fees and entering on the Property i�o make repairs.Although I.ender may take action under this pangraph
<br /> 7,L.ender does not have to do so.
<br /> - Any surwunts disbursed by Lemler under this paragraph 7 shall become additional debt of Bornnwer secured by this
<br /> Security Instrument. Unless Borrower anci l.ender agree to other terms of payment. thcsc anwunts shnll bear interest from the
<br /> ►+ date of disbursemc:nt at the Notc rate and shail be payable, with intcrest. upon noGCe from Lender to }3ocro�r•er requesting
<br /> ' payment.
<br /> 8.Mortgag¢Insurance.If Lender required mortgage insurance as n condttion of maldng the loan secured by this Secutity
<br /> ' Instrurt►ent, Borrower shall pay the premiums roquired to maintain the mortgage insurance in effect. If, for any reason. the
<br /> mortgage insurance coverage required by Lender laps�or ceases ro be in effect,Borrower shall pay the premiums t�equirod to
<br /> obtain covernge substantially equivalent to the mongage insurance previously in effect. at a cost substantially equivalent to the
<br /> • cost to Bonower of the morigage insurance previously in effect, from an alternate mortgage insurer approved by Lender.If
<br /> substantially equivalent mortgage insurance co�erage is not available, Bomower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance rnverage lapsed or ceased to
<br /> be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu uf mortgage insurnnce. Loss reserve
<br /> Farm 3028 9180
<br /> • Pag�3 ot 8
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