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<br /> 98-- �123s�
<br /> � S. �azprd ur PropeKy Irourance. Borrower �h�ll keep the improvements now exfsting or hereafter erected on tha
<br /> Proparty ir►sured ag�inst lo�s by fire, haaud�Included within the term "extended coverngc" and nny othtr hwxard�, including
<br /> � flc+oda or flooding, for which Lender requircs Inaur�nce.This insurance ihall be mwlntAinsd In the amounts and f4r tl�e perloda
<br /> tb�t I.ender requires. The ln�ur�nce curiar providing the insurance sh�ll be choren by Borrower subjece to Lender'e approval
<br /> which �hwll not be unreasonably withheld, If Borrower falls to mafntain covera,�e described elwve, Lender may, at I.ender's
<br /> optlon,obt�in wver�ge to protecc Lcnder'e righ�s In the Propeny in accordance with psragraph 7.
<br /> All insuranco policiea and renewala ehall ba acceptable to Lender and ehAll include a standard mongage clause. Lendor
<br /> eh�ll h�ve the dght to hold the policiea and renew�le. If Lender requfrea,Borrower nhall promptly give to Lender ell receipt�of
<br /> paid premiuma and renewal notices. in the event of lass,Horrower shall givc prompt noticc to thc insurancc carrler and L.ender.
<br /> L.ender may m�ice proof of lost lf not made ptamptly by Sorrower. �
<br /> Unle�s Lender and Borrower otherwise agree In writing, insurana pmceede she11 be appllod to restoration or repair of the
<br /> Pr�pezty d�maged, if the restoration or repair is economlcally feasible and l.ender's security Is not lessened. if the reytaration or
<br /> rep�ir i�not economically fea.�ible or Lender's security would be leasened, the insurance pracads shall be applied to the sucns
<br /> secured by this Sccurity Insttument, whetber or not then due, with any excess pald to Borrower, If Borrower abandon� the
<br /> Propetty, or dces not answer within 30 days a notice irom Lcnder utiat the iasurance carrier has offered to settle a claim,then
<br /> Lsndet may colleet the insurance proceeds. Lender may use the proceeds to repair or restore the Ptoperty or to pay eums
<br /> securod by this Security Instrument,whether or not then due.The 30-day perlod will begln when the natia is given.
<br /> Unless Lender and E3onowcr othorwise agree in writing, any application of proceeds to princip�l shall not extend ot
<br /> postpone the due date of the monthly payments nferred to in paragraphs 1 and 2 or change tho amount af the payments. If
<br /> under puagraph 21 the Property is acquired.by L.ender,Bonower's right to any insurance policies and procada resulting from
<br /> dacns►ge to¢he Pcoperty prior to the acquieition shall pas�to Lender to the extent of the sums eecural by this Security Initrument
<br /> ic►unediately prior to thc acquisidon.
<br /> 6,Occupwncy,Ih•eservation,Mpintenance And ProtecNon of the Propaty;Borrower's LoAn AppBcwtlon;I.easeholds.
<br /> Borrower shall occupy,establish,and use the PropeRy as Borrower's principal residence within sixty day�after tha eaecution of
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for�t least one year after
<br /> the date of occupancy,unlcss Lender otherwise agrees in wdting, which consent shall not be unreasonably withheld, or unless
<br /> oxtenuating circumstar►�:es exist which aze beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Propeny, allow thc Properiy to deteriorate. or wmmit waste on the Proprrcy. Sorrower shall be ir. default if any forfeltun
<br /> action or proceeding, whether civil or criminal, is begun that in l.ender's good fsuth judgment could result in forfeiture of the
<br /> Property or otherwise mzterially impair the lien created by this Security Instrument or Leuder's security interest. Borrower may
<br /> cure such a default end reinstate,as provided in paragrapli 18,by causing the action or praceeding to be dismissed with a ruling
<br /> that. in Lender's good faith determination. precludes forfeiture of the Borrower's intorest in the Property or other materi�l
<br /> ':.�ngsir.^.�wn: �f ihi' IltA rr�arrri hv thiA securiry Insccument or Lender's secudty interest. Borrower sh�ll alao be in defAUlt if
<br /> Borrower,during the loan application procesa,gave materlally false or inaccurate inform�tion or statenxnta to L,ender(or fniled
<br /> to provide Lender with any muterial information)in connection with the loan evidenced by the Note, including, but not limited
<br /> to,representationa concerning Borrower's occupancy of the Property as a principal residena. If this Security Instrument i�on a
<br /> leasehold. Borrower shall comply with all the proviaions of the lease. If Borrower acquir�s fa title to tha Property, the
<br /> leasebold and the fa title shall not merge unless I.endcr agras to the merger in writing.
<br /> 7,Protectloa of Lender's Rlghts in the Property.If Borrower falls to perform the covenants anci agreements contained in
<br /> thia Security Instrument, or tharo is a legal proceeding that may significantly affxt Lender's righta in the Property (such as a
<br /> proceeding in bankruptcy, prQbate, for condemnatton or forfeiture or to enforce lAws or regulations). then Lender may do and
<br /> pay for what�ver ia necessary to protxt the value of the Aroperty and Lender's rights 1�n the Properry. L.ender's acNons ina��
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appauing in court, p�ying
<br /> repsoaable utomeys' fecs a��d entering on the Property co make repairs.Although Lender may take action under[his puagraph
<br /> 7,Lender doea not have to do so.
<br /> Arty amounts disbursM by Lender »nder this paragraph 7 shall become additional debt of Bc�rrower secured by thls
<br /> Security Instrument, Unlas Borrowcr and Lender agra to other tcrms of payment, these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requating
<br /> payment.
<br /> 8,Mortga�e Ins�urance. [f Lender requircd mortgage insurance as a wndition of making thc loan secutal by this Security
<br /> Insirument, Bocrower shall pay the premiums required to maintain the mongage insurance in effxt. If, for any reaxon, the
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effcet, Bonower shall pay tht prtmiums required to
<br /> obtain coverage substantially Cqu[valent to the mortgage insurance previously in effect, at a cost substantially equivatent to the
<br /> cost to Borrower of the mortgage insurance prcviously in effect, from an altemate mongage insur�r approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available, Borrower ahall pay to Lender each month a sum a�ual to
<br /> one-twel[th of the yeazly morcgage insurance premium being paid by Borrower when the insurance coverege lapsed or ceased to
<br /> be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Fam 302e 9/80
<br /> �•BRINE)�et�z�.ox r•o.a oi e i�uuw:
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