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<br /> S. Hezerd or Property It�.surance. Borrower shull kccp the improvements now existing or hercAftcr crccted on the
<br /> Property insured against loss by fire, haznrds includcd within thc term "extended coverage" and any othcr hazards. including
<br /> floods or flooding, for which Lender requires insurance.This insurance shall be maintlined in the amounts and for the periods
<br /> that L.ender requires. The insurunce carrier providing the insurance shall be cliosen by Bc►rrower subject to Lender's app��oval
<br /> :vhich shall not be uiireasonably witi�held. If Borrower fuils to maintain coverage described ubovc, I.ender may, at Lender's
<br /> option,obtain coverage to protect Lender's rights in thc Property in accordance with pnragraph 7.
<br /> All insurance policies and renewuls st►all be acceptable to [,ender and shall include a standard mortgnge clause. C.ender
<br /> shall have the right to hold the policies and renewals. !f Lender requires, Aorrowec shall promptly give to Lender all reccipts e�t
<br /> paid prcmiums and rene�val notices. Tn tlie event of loss, Aorrower sh�ll give prompt notice to,the insurance carricr and L.ender.
<br /> l.ender may make praof of loss if not made promptly by Borrower.
<br /> Unless Lender nnd Borrower otherwise agree in writing, insurance proceeds shall be applicd to restoration or rcpair of the
<br /> Property damaged, if the restorution or repair is economically fcasible nnd Lender's sec;urity is not Iessened. If the restoration or
<br /> repair is not economically feasible or Lender's security would be Iessened,the insurance proceecis shnll be applial to the sums
<br /> sccured by this Security Instrument, whether or not then due, with any exccss paid to Borrower. If Borrower abandons t!-ie
<br /> Property, or dces not answer within 30 dnys a notice from Lender that the insurance carricr hus offcred to settle n claim,then
<br /> l.ender mny collect the insutance pracceds. f..endec may use the procc:eds to repair or restore the Property ar to p•ry surr�s
<br /> secured by this Securiry Instrumcnt,whcther or nnt then due. Thc 30-duy pericxl will hegin whcn the noticc is givcu.
<br /> Unless L,ender and Horrower otherwise agrec in writing, uny upplicatinn nf proceeds to principal shull not exten�l c�r
<br /> pnstpone the due date of the monthly payments referred to in puragruphs I anJ 2 or chunge 1he amount c�f Ihe puyn►cnts. If
<br /> undcr paragraph 21 thc Propcny is ucquircd hy l.cndcr, Borrowcr'ti right ta�ny insuruncc policics uixl procecds resulifng from
<br /> damage to du Propeny priRr to the ucquitiiNon shall pass to Lender to tha eztem i�f the sums u:cured by this Seeuriry Instewmenl
<br /> imm��ciiat�ly prior tu the ucquisition,
<br /> b.Ocrupancy, Pre�+ervatlon,MolntenAnce und Protection of the Properiy; Aorrower's L'.own App11cAU�n; LeASeMoldn,
<br /> Borrowcr shall occupy,cstablish,and usc thc Property as Bc>rrower's principul residence within sixry duys after the exceution af
<br /> this Security Instrument und shall continue to occupy the Property as Borrowcr's principal residence for At Ieast one year after
<br /> the date of occupancy, unless I..ender otherwise agrexs in writing, which consent shall not be unret►sonably withheld,or unless
<br /> extenunting circumstances exist which ure beyond eorrower's control. Borrower shall not destroy, damage or impair the
<br /> Property, Allow the Propeny to deterioratc, or commit waste on the Property, Borrower shall Ix: in defautt if any forfeitun
<br /> netion ar proceeding, 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 security interest.Borrower may
<br /> cure such a default and reinstate,as provided in paragraph l8, by causing the action or proceeding to be dismissed with a ruling
<br /> that, in I..cnder's good faith determination, precludes farfciture of the BorrowPr's interest in the Property or other rnaterial
<br /> j�ii�rni wc17i oi ii� li�A �t"�.:.iw �� :f2i3 ��'1ri!; Ir.stsumenr ���,PntJr!'c SPLIIiIIV interest. Borrowcr shall also be in default 1�
<br /> Borrower.during the loan application pracess,gave mnterinlly false or inaccurata information or statements to L,ender(or fsiled
<br /> to provide[.ender with any material infarmation)in connection with the loan evidenced by the Note, including,but not limited
<br /> to, representations concerning Borrower's occupancy of the Propeny as a principal residence.If this Security Instrument is on o
<br /> leasehold. Borrower shall comply with all thc provisions of the Iease. [f Borrower acyuires fe:e title to the Property, the
<br /> leasehold and the fee title shull not merge u�less I.ender agrees to the merger in writing.
<br /> 7.Prntectlon nf Lender's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> this Security Instniment, or there is a legal proccedinb that may significantly affect I.cnder's rights in the Property(such es a
<br /> proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforcc laws or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Propetty. L.ender's actions may
<br /> include paying any sums secured by u licn which has priority over this Sec�urity Instrument, appearing in c;outt, paying
<br /> reasonable attorneys'fees and entering on the Property to make rcpairs. Although I.cnder may takc action under this paragraph
<br /> 7,Lender dces not have to do so. �
<br /> Any amounts disbursed by I,ender under this paragraph 7 shall bccome additional debt of Borrowcr ucured by this
<br /> Sccurity Instrun�ent. Untess Borrower nnd Lcnder agree to other terms of payment, these umounts shall bear interest from the
<br /> date of disbursement at thc Note rate and shall be payable, with intcrest, upon noticc from Lender to Borrower re�uesting
<br /> puyment.
<br /> 8. Mortgage lnsurance. If Lender require.d mortgage insurance as a condition of making the loan secured by thls Security
<br /> Instrument, Borrowcr shall pay the premiums rcquired to maintain thc mortgage insurancc in effect. If, for any rcason, the
<br /> mortgage insurance coverage required by I.ender lapses or ceases to be in effect, Horrower shall pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the
<br /> cost to Borrower of the mortgage insurancc previously in effect, from an altcrnatc mortgage insurer approved by Lcnder. if
<br /> substantially equivnlent mortgage insurance coverage is not available,Borrower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the ycarly mong:�ge insurnnce premium bcing paid by Borrower when the insurance cover�ge lapsed or ceased to
<br /> be in effect. Lender will accept, u�c and retain these payments as a loss reserve in lieu of mortgnge insurAnce. Loss reserve
<br /> Form 302A 9i90
<br /> F'opu 3 0l 8
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