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<br /> S. Haxard or Property Insurance. Borrowcr shnll kce�lM im�oiv'en2ici�it�IwOw existing on c�reuftcr crcctcd on thc
<br /> Pro�rry insurcci nguinst io�s by firc, hazards includcd within thc tenn "cxtcndcd cavcragc" itnd any other hai.�rds, including
<br /> Flcx►cis or floixling, forwhich l.cndcr rcquires insurancc. This insurancc stiall bc maintnincd in thc t►mounts und for the periods
<br /> thut I.cndcr rcyuires. Thc insuroncc cnrrier providing thc insuraucc shull bc chasr.n Uy QorroH•cr subjcct to Lcndcr's nppmval
<br /> which shall not bc unrcusonubly withhcld. If Rorrowcr fails to maintain cavcr,igc dcscrihed aibovc, Lcndcr muy, at I.,cndcr's
<br /> option,ohtuin covcrugc tc�pratcet L,endcr's rights in thc Pro�rty in nccordnncc with paragraph 7.
<br /> All insurance policies and renewiilti shull be uceeptable to Lender and shall include u standard mortguge cluuse. Lender
<br /> shnll hnvc thc right to hold thc policics nnd renewals, If I..cndcr rcquires, Surrowcr shall promptly givc to L.cnder tdl receipts of
<br /> paid premiums and renewal notices. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.
<br /> I.endcr may makc proof of loss if not madc promptly by Horrowcr.
<br /> Unless Lcnder and Borrower otherwise agrce in writing, insurancc proccccis shall bc applied to restoration ur repair of the
<br /> Property damaged,if the restoration or repair is economieally fensible and f..ender's security is not Iesseneci. If the restoration or
<br /> repair is nat economically feasible or l,ender's security would bc Iessened,the insurance proccecls shnll be applied ta the surns
<br /> Secured by this Se�:urity Instrument, whether or not then due, with any excess paid to 9orrowcr. If Borrower abaixions the
<br /> Propeny, or does not answer within 30 days a natice from l.ender that tha insurance carrier has offered to settle a claim,then
<br /> Lender may collect the insurance procetds. Lcnder may use the procecds to repair or rr.store the Property or to pay sums
<br /> secured by this Security Instrument, whether or not then due,The 30-day period wili begin when thc notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or cl�ange the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of thc sums secured by this Security Instrutnent
<br /> immediately prior to the acquisition. •
<br /> 6.Occupuncy,�servattun, Malntenance and I'rotection of the Property;Barrower's Loan Applicallon;LeASeholcis.
<br /> Borrower shall occupy,establish,and use t6e Property as Borrower's principal residence within sixty days after the exccution of
<br /> this Security Instrument anJ shall continue to occupy the Property as Borrower's principal residence for at Icast one year after
<br /> the date of occupancy,unless Lender otherwise agrees in writing, which consent shall nat be unreasonably withheld,or unless
<br /> extenuating circumstances exist which ute beyond Borrower's control. Borrower shall not destroy, damage ar impair the
<br /> Propeny, allow the Property to deteriorate, or commit waste on the Property.Borrower shall be in default if any forfeiture
<br /> action or procceding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materially impair the lien created by this Security Instrument or Lender's securi►y interest. Borrower may
<br /> cure such a default und reinstate,as provided in paragraph 18, by causing the action or proccecling to be dismissed N�ith a ruling
<br /> that, in Lendcr's good faith determination, prec:ludes forfeiturc of the Borrower's interest in thc Property or other material
<br /> impairment af the lien created by this Security Instntment or I.ender's security interest. Borrower shall also be in default if
<br /> Borrower, during the loan application process,guve materially false or inaaurate information or statements to L,ender(or failed
<br /> to provide Lender with any material infotmation)in wnnection with the loan evidcnced by tt�e Note, including, but not limited
<br /> to, representations concerning Borrawer's occupancy of the Property as u principal residence. If this Security Instrument is on a
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to tht Property, the
<br /> leasehold and the f�e title shall not merge unless L.ender agrees to the merger in writing.
<br /> 7.Protcetion oiLender's Rig�ts in the Property.If Bonower fails to perform the covenants and agrcements contained in
<br /> this Security Instrument. or there is a legal prceecding that may significantly affect [.ender's rights in the Property (such us n
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or ta enfurce laws or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and L.ender's rights in the Property. C.ender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> reasonable attorneys' fees end entering on the Property to make re,pairs. Although Lender may take Action under this paragraph
<br /> 7,L.ender das not have to do so.
<br /> Any amounts disburscd by Lender under tl�is paragraph 7 shall become additionul debt of Bunower secured by this
<br /> Security Instrument. Unless Borrower and Lender:►gree to other terms of payrnent. these amounts shall bear interest from the
<br /> date of disbursement at the Note rate nnd shall be payable, with interest, upon notice from Lender to Borrower roquesting
<br /> payment.
<br /> 8.Mortgage Insurunce. If Lender required mortgage insuranc..as a condition of making the loan secured by this Security
<br /> Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage required by l,ender lapses or ceases tu be in effect,Borrowe►•shall pay the premiums requircd to
<br /> obtain coverag�substantially equivalcnt to the mortgage insurance previously in cffect, at a cost substantially equivalent to the
<br /> cost to Borrower of the mortgage insurancc previously in cffcct, from an alternate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgagc insurancc coveragc is not availatilc,IIorrower sh311 pay to Lcnder each month a sum equal to
<br /> one-twelfth of the yearly nwrtgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in ef'fect.Lendcr will accept,use and retain these payments as a loss reservc in licu of mortgagc insurance. Loss resen•c
<br /> Form 3028 Sl90
<br /> Poga 3 0l p
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