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<br /> S. H�rd or Property Inaur�noe. Borrowcr ehall kcep the improvements now exis�i ar hd1`ertFt2f'�e�ted au the
<br /> Property(nsurtd against lasa by flre, hazurdR iacluded within the term'extended covernge" und any athcr haxurdr. including
<br /> flaods nr flcxidi�eg,Por whiah I.ender rcquires in9urunce. Thiq insurnnce shall tyc maintnined in the nmaunts and for the F►erioda
<br /> tl�at Lender rcyuires. The insurctncc carricr pr�rolding the insurnnce shcdl he ch��sen by Borrower subject to [.ender's upproval
<br /> which vhall not 4�e unreasonably withheld. If Hnrrower fails to melntAln cuve�uge describcd abave, I.endcr muy, ut LenJcr's
<br /> option. obtuin cuverage to protect I.cnder'ti rights in thc Propeny in accardunce with purugruph 7.
<br /> All Intiurunce pnlicies uixi renewuls shull ix;ucceptuble to Ixnder and whall include n r;tundard �nartguge clnuse. L.ender
<br /> Rhall huve thc right to hold thc palicies uncf renewala.If Lender requircY,B�rrawer ehull pr�mptly givc ta I.en�cr ull rcceipts of
<br /> paid premiums and renewi►1 txxirea. In the event nf loss,Banower ehull give�rampt nodce to thc insurnnce currier und Lender.
<br /> Lender may make pr�x►f uF luss if not mudc pramptly by Bairruwcr. --
<br /> Unless l.ender und Borrower atherwinc ugree in writing,in�urance praceods shull bc upplicd to restorntian ar repair of the
<br /> Property dumagcd,If thc restoration ar repuir is economically feasiblc and L.cndcr's sccurity is not lessened.If thc restoration or
<br /> rcpair is not economically feasfl�le or Le�xler'�recurity wauld be Iessened. the Insurunce procceds shaU be Applied to the sums
<br /> secured by this Sau�ity Instrument. whethcr or nut then due, with uny cxcess pnid to Bareowcr. If Barrower Abandons the
<br /> Praperty,or daes not answr.r within 30 days a natice from Lcnder thut�he insuruncc curricr has offered to scttle n claim.then
<br /> I.ender may wllcct the fusurance praceeds. Lencfer may uisc thc prucad.y ro repnir or restorc the Property ar to puy swns
<br /> aecured by this Security InstNment, whether or not then due.The 30-day period wiU begin when the noticc i�s�iven.
<br /> Unless Lender And Barrower otherwisc agree in writing, uny upplication of proceeds ta principal shall not extend or
<br /> postponc the due date of the monthly paymcnta refcrred to In paragraphs 1 and 2 or change thc amount of the pAymenis. If
<br /> under purngraph ZI the Propecty is acquir�d by Ixnder, Borrower's right tu nny insurunce polietes and praceeds resulting from
<br /> damage to the Property pdor to the acquisitton shall pass ta L.ender to the extent of the sums secured by this Security Instrumtnt
<br /> immediately pdorto theacquisttIon.
<br /> 6. Occuponcy,Preservation,Mnlntenance and Protectton ot the Propertyi Horrower's Loaa Application;L.easeholds.
<br /> Borrower shell ocr,upy,establish,end use the Property s�s Horrower's principal resIdencc within sixty days atter the execution of
<br /> this Security Instrument end sh:�ll continue to occupy the Property us Borrower's pdnclp�l residence for ut least one year atter
<br /> the date of occupancy. unless Lender oUierwise agrees in writing, which consent shall not be unreasonably withhetd,or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Property,allow the Property to deterlorate, or commit waste on the Property. Bon'owcr sh�ll be in defuult tf any forfeiture
<br /> action or proceeding. whether civil or criminal,is begun diat In L.ender's good fuith Judgment could result in forfeiture of the
<br /> Pcoperty or otherwise materiaAy impair the lien created by thts Security instrument or Lender's securiry interest.Bonower may
<br /> cun such a default and rcinstate.as provided tn parugraph l8,by causing the actton or procceding to be dismissal with a ruling
<br /> thae, In Lender's good faith determination. prccludes forfeiture of the Borrower's interest ln thc Property or othcr material
<br /> impatrn�ent uf the lien created by this Sccudty Instrument or Lender's securiry interest. Borrawer shall also be in default If
<br /> Barrower,dudnR the loen applicntion praxss,gave materiaiiy faise or inac:curata i�it'oi�aiio��r s'�ter�.-nts ta I.c�cr(ar failcd
<br /> to provlde L.ender with any material information)in connection with the loan evidenced by the Note.including,but not limited
<br /> to.rcpresentadons concxming Borrower's occupancy of the Property as a princtpal residence.If this Secudty Instrument is on a
<br /> leasehold, Horrower shall comply with all the provisions of the lease. If Borrower acquires fec dde to the Property. the
<br /> leasehald and the fee tide shall not merge unless Lender agrees to the mcrger in wdting.
<br /> 7.ProtaHon of Lender's Rights in the Property.If Borrower Fails to perform the covenants and agreements contained in
<br /> this Secudty Instrument,or then is a legal proceecling that may significantly affect Lender's rights ln the Property (such as a
<br /> procxeding in bankruptcy. probate. for condemnation or forfetture or to enforce lnws or►�egulutions),dxen Lender may do end
<br /> pay for whatever is necxssary to protect the value of the Property and Lender's rights in the Property. L.ender's actions may
<br /> include paying any sums saaral by a lien which has prio�4ty over this Security Insuument, appearing in court, puying
<br /> reasonable attorneys' fas and entering on the Property to make repairs•Although Ixnder may take action under this paragmph
<br /> 7,I.ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instmment. Unless Bonower and Lender egree to other terms of paymcnt. these amounts shall beur interest from the
<br /> date of dtsbursemont ut the Note rate and shall be payable, with tnterest,upon notice from Lendcr to Borrower roquesdng
<br /> payment.
<br /> B.Mortgs�ge Insurance.If Lender requited mortgage insurance as a condition of making the loan:�ecured by this Securlty
<br /> Inst►ument. Borrower shall pay the premiums re�uired to maintain the mortgage insurance in effect. If. for any mason, the
<br /> mortgage insurana coverage required by I.ender lapses or cwses to be in effcxt,Bonower shall pay the premiums required to
<br /> obtain covernge substantially equivalent to the mortgage insurance previously in effect,at a cost substnntially equivalent to the
<br /> cust to Borrower of the mortgage insurance previously in effect. from ari alternate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage Is not availuble. Borrower shall pay to I.ender eact►month a sum equal to
<br /> ohatwelfth of the yearly mortgage insurnnce premium being paid by Bomower when the Insurance ooverage lapsed or cease�l to
<br /> be in effxt.Lender will accept.use and retain these paymenu as a loss reserve in lieu of mortgage insurance. Loss r�serve ,
<br /> Fo►m 3028 8/80
<br /> Ppe 3 ot 8 �
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