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<br /> � ,��� 8.'Hc�ud or I'ropw��tyy Insu�aaace. Borrower shall kecp the improvements now exiadng on c�reafcer erccted on the
<br /> � � Propetty inswed against loss by fire, ha2arda iacludcd within the tem► 'extended covernge" and any other hezaras, including
<br /> ° tlaods or flooding,for which Lender requirea inaurance. This insurancc ahull be mi►intained in the amounts and for the perioda '
<br /> , that l.ender requirea. The insursince carrler provldiaB the Inaurance shall be chosen by Borcower subject to L.ender's approval
<br /> � ,� �' which ahall not be unreasonably wtthiicld. If Bor�owet fails to maintNn coveruge described ebcsve, Lender mny, ut Lendcr's
<br /> � • ,�,,; , option.obtaln coverage to protecc Lender's rlghta in tho Property in accordance wlth puragraph 7. —;w-
<br /> ' All Insurance policies aacl renewnls sh�ll b6 acceptable to Lender and shail include a swndard mortgage clause. Lender
<br /> •. shall have the dght to hold tde poHcles and renewals.if Lender requires.Borrower shnll prompdy give w L.cnder a11 receipts of �T,.
<br /> � ^ ; pald premlusns and renewal notices. In the event of loss,Borrower ahall give prompt notice to the lasaraace carrier and Lender.
<br /> l.ender raay maice proaf of loss if not made pmmptly by Botrower. �`�-
<br /> -%��""""� •• Uuless l,ender and Borrower otherwise agree in wrtttng, insurauce proceeds shap bt applied ro restoration or mpair of the _
<br /> �' '°"� ' Property damaged,if the restoration or repair is economically feasiblo and Lender's securlry is nat Icssened. If the restoration or -
<br /> ' = repatr is not econotnically feasible or Lender's secutity would be lesseaod. the inawrance proceeds sball be applied to the sums —
<br /> �t " secured by this Security Instcumeat. whetber or not then due,with tuiy excess paid to Borro►v�r. If Borrower abandons thc •--
<br /> F# Ptopetty,or does nat answer within 30 days a notice from Lender that the insuraace carrier has affer�d to settle a claim.then
<br /> �`'�� � I.�nder may colle�t the inswance pmcceda. Lender may us�the pmceeds to rcpair or restom the Proporty or to pay sums
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<br /> ,;:�„�,,�,:,;ik;!,t:;1 secured by this Security Insuument.whether or not then duo.The 30�day period will bagin when the nodce ia g9ven. —
<br /> „ ���°�.,:�•�����j'• ` Llnless Lender sad Boaower otherwlse ngcee in wdting, any applicatioa of proceeds to principnl ahall nat e�ctead or
<br /> � �•r��`�ti`';;��.' °� s ne the due dats of We raonthl a mente referred to in ara ra hs 1 and 2 or change the amount of the ayfIIEAtB. If
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<br /> 't;.:;'�,,��;.;1� '`��_ , uuder pnragraph 21 the Preperty Is acquired by Lender, Borrower's dght to any insaraace palicies and proceeds resulting ftom
<br /> . ' �`•. damage to the Property prior to We acquisltion ahall pass¢o Lender to the exteat of the sums se�ured by this Security Instnunent
<br /> .. -° :' �. iaimediately prlor to the acqulsittoa. .
<br /> 6. Qr.cupiwcy, Pre.servuQo�, AMtutennrcce tutd Pirotectton of the Proptrty; Boa�rower'e Lo3n Applicatton;
<br />�• �, �;�: ' LEaseholds.�onower ahall occupy.establish,and use the Property as Banower's principal residence within slxty days atter the
<br /> exe�ution of thia Securlty Insuument t�d ehull conNnua to oxupy tho Propzrty as Honower's pdncipnl realdence for At lenst one
<br /> .�� year aRer the date of occnpsun.y�unlesx I.ender otheiwisc agt+eee in wridng�which cansent ehuil not be mtreasonnbly wtthheld,
<br /> ' or unless extenuatiaR circumst�ces exist which nro Ueyond Borrower's wntml. 8ocrowar ehall aot deatroy,dnmage or imp�uir
<br />-" cho Property�nilow the Property ta detedornto�or cammit wnsto on thc Properry. Borrower shall bc in dcfault if any forfeiwre
<br /> =a�i �- =�w� actton or proceeding. whether civii or criminnt.ls bogun tlint in Lcnder'e good fuith Judpment coutd cesWt In forfetturo af tho
<br />��;.`�• � Property or otherwise a�atertelly impnir the lien ccemed by�his Secudry lastament or Lender's secudty intenst.8orrower may
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<br /> z`�-��"_„r,:° cun such u dePault and relnatnte.as provided in puragraph t8.by cnusing the action or pro�eeding w be Aismtssed w[tb a cu ag
<br />,=����ii�`�`. tlwt� in Lender's good faith detesminatton, precludas forietture of the Borrower's tn[arest 1n ehe �roperty or o�er mauriai ° �
<br /> -=�,_"=�_.;: �.` � impalrment of the lien cceated by this 5ecutity Inctrument or Lender's aecuriry latet+est. Borrower shall also be in defavit if
<br />`- �'}� Borrower.ducin the toaa lication rocess,guve mntariall fnlse or iaaccurate inforniation or stateTnents to Lender(or faile�
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<br /> �--�"�'_'`:��=. to pmvide Lender with aay matcriW informatfon)in eenneccion with the toan evldenced by tbe Note. including,but not limiced
<br />-;qu�;.�_ to.representations concerniag Borrower's occupunay ot�he Property as a principal resIden�.If thia Se.curity Ittsuumeat is on a
<br />����;`�� leasehold� Borrower slwll oomply wlth all tho pmvisions ot thE lease. If Bors+ower ncyuires fae tIQe W the Pro�rty, the
<br /> °`"��'-�'`��� leasehold and tho fee dda sbaU not merge ualass Lcndet agrees to the merger in writing.
<br />'�'''�"����� 7.Protection of Leader's Rlghts tn tho Pn+operty.If Borrower fatls to perform tha covenazite and agreemeatn contained in
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<br />-_�`--=;`:_';:_;;.- Wta Security Instrument, or there is a tagel pteoeedinQ that may slgaificandy affect Lendor's dghts in thz Property(auc8 es a
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<br /> :.�.,_ � pmceeding in bankruptcy.probate. for ooadomaatIon or forfottum or to enforce luwo or regulatioas). then Lender rnay do suid
<br /> ,--- �: .�t pay far whatever Is necessary to pmtecc the v�lua of the Property aad Lender's rights ia the Propeny. Lender's actions may
<br /> -_-- y����:� . include paying uay sums secured by a lion which has pdoriry ovea th�s Securiry Iagtcvraent, ap�earin8 � ��• PaY�
<br /> __ __�`�,� reasonuble auorne�s' fces end enteriag on tho Property to meke repairs.Altfiough Lender mn;y take nc2lan under this paragraph
<br /> -��"' 7.L,ender does not have w do so.
<br /> ��� Any amouata disbursed by l.euder under this paragrap6 7 shall become addltion�l debx of Bonmwer secured by this
<br /> -- ==='�� Security Inauumeat. Unless Borrower and l.endor agree to othar tercns of puymeat,these amounts shell beur lnterest fmm the
<br /> —'"�u.,.,.��°�`� dHte of dtsburs$mr,nt at tho Note rate nad shall bo poyable, with lntemst� upon aotice from L.eadsr to Borrower cequesting
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<br />���,'*;���� 8.Mortgage Iasurencc. 3t I.ender requined mo�tgqpo i�surance as a conditIan of maktng the loan secured by tt►!s Securiry
<br /> °`�:�� Iastnunent. Borrower ahap pny the premiums mquired to maiacala tho��ort�o insurance in effect.If. fer any mason,the
<br /> ,,:� �iioxtgage iasuraace coverage requircd by Lcadcr lapsoa or cr.u�:to is;,in effa.�t.Barroerer slrrti pay t�e p�wit�rus requlred to �
<br />,.�_•�:�..� abtatu coverage enbstantIally equivalent to the mortgage insurancx previousty in effoct.at a cast subssantially equtvalent to the
<br /> °`=� cost to Bomuwer of the mort�tage itiw�n.su:c prcviously in eNect. from en altemate mortgt�ge lu�surer approved by Lender. 1d
<br />��`�"��' substaAtlally equivalent mortgage insoraace coverago is not avetlnble.Somov�er shall pay to Lender eash manth a sum equal to
<br />-- `'�'�'�' one•twelfth of the yearly mortgage fnsw�attce premiuta bciag p�id by Borrowcr when the insurancc covernIIe lapsed or ceased to
<br />_- =��:�?�^r� be in effect.Leader wlll accept.use aad oetaln these paymects as a loss reserve in lieu of mortgage insuraace. Losa reserve
<br />_- ';;,,.•. � Form 3028 fl/80 —
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