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<br /> S. Hnzard or Prngzrty I��,vurance. Borrower ahafl kcep thc Improvemcnts now extsting or hercafter erectcd on the ,
<br /> " Droperty insured againat losa by fire, haznrda lnctuded wlthin the term"extended coverage" and any other hazurds,including �•
<br /> flood.g or flooding. for which l.ender requires inaurance. Thia lnsurence ahall be malntalned in the nmounts and for the periods
<br /> , „ thut I.ender requires. The insurnnce carrter provtding the insutence shall be chosen by IDorrower subject to L.endet's approvat
<br /> which ehall not be unreasonably wi[hheld. lf Bonowcr fatls to maint�in coverugc described ubove, L.ender may. a� Lcndcr's
<br /> option,obtain cflveraIIe to protect l.ender's righte ln the Properry in accordance with paragraph 7.
<br /> " Ail insurancc poltcies aad renewals sh�ll be acce�teble to Lender und shall include a standard mortQage clauae. l.ender �
<br /> �. ahall bave the dght to hold the policles and renewals.If L,endcr requires,Borrower shall promptly give to Lender all receIpts of
<br /> •� paid premiums and reaewal notices. In the event of loss. Bonower shall give prompt natice to the insurance currler and Lender.
<br /> _: - -� L,ender may make proof of loss lf not made promptly by Bonower.
<br /> Uniess Lcnder and Aonower otherwise ugree in writta�.insurance procexds shall be applied to restora►ion or repair of the
<br /> • Properry damagerl,if the restoration or repair is economically feasible and Lcader's secudty Is not lessened. lf the mtoration or
<br /> • ' '� repair is not economicnlly feasible or Lender's securiry would be lessened,the insurance proceecis shall be applied to the sums
<br /> �ccured by this Securiry insttument, whether or not then due, wtth any excess paid to Boirower. If Borrower abandons the
<br /> � Property,or does not answer within 30 days a notice from Leader that the insurance caafer has offered to settte a claim, then ..
<br /> Lender may wllect the insurance proceeds. Lender may use the procReds to rep�ir ar restore the Property or to pay sums ,
<br /> ;�� " � secured by this Security Insnument.whether ot not thcn due.The 30-day period will begin when the notice!s�iven. .�:
<br /> :�° {. Unlesa Leader and Borrowcr othenvise agree in writing. any application of praceeds to principal shall not extend or �"';�:
<br /> , :'�.:'
<br /> � :":�•r:# pastpoae the due date of the monthly paymEnts referred to in patagraphs I and 2 or change the amount of the payments. If •
<br /> � `;�:,� under paragraph 21 the Property is acquire�l l�y Lender. Bonower's r�ght to any inaurance golicies and proeeeds re�ulting from
<br /> ,� damage to the Property prior to the acquiaitian shall pass to I.ender to the eatent of the sums secured by thls Security Instrumenr �
<br /> ,.,�..i immedlately pdor to the acquisitton. `'�''
<br /> •� ��,� 6. Uccupuney, Preservatiou� MNntens�ace and Protection of the Property; Boa•rower's Y.onn Application;
<br /> ��;�r'�� LeuReholds.Borrower shall occupy,establish.and use the Property as Bonower's principal resldence wlthin sixry days after the ;,;;.
<br /> ;�: ; execudon of this Securlty instnunont and shall contiaue to occupy the Property as Bonower's principal residence for at least one .�
<br /> year aflter the date of occupancy,unless Leader oWenvise agrees in wdting,wbich consent shall not be unm,asonably wlthheld, �• �+-
<br /> � * � or unless exteauating circumstances exist which are beyoad Borrower's conu�ol. Borcawer shatl not destroy,daraage or impair ,:�_
<br /> ''�� the Property.allow the Property to deteriornte,or commit waste on the Property. Banawer shell be in default if auy forfeiture a;:
<br /> action or proceeding,whether civil or cdrninal. ia begwi that in Lender's good falth judgment could result in forfettu�e of the .'�a.`
<br /> �� . Property or otherwise tnaterially impair the lien createtl by this Security Insuument or L.ender's securlty interest. Horrower may
<br /> '�� �``''- cure sucn a deiauIt,�id.eir�state.as pmri3a!itt gsrs;rsph!8,b;csusing the a=tlaa ar proe�e�ing;�hP�iiamiased wit�a ruling .
<br /> ' thAt, in l.ender's �ood faith determinntion, precludes forfeiture of che Borrower's interest in the Properry or other rasi�edal �y
<br /> imp�rment of the lien created by thts Secnriry Insaument or i.cnder's secudty interest. Bonower shall also be in default if �`'=-
<br /> ; �.,:
<br /> �.� Barrower,durin�the loan application pmcess,gave mated�lly false or inaccurate informatton or statements to Lender(or failed '�"—
<br /> „ . � to pmvide Lender with any macerial informattoa)in conuecttoa with the loan evldeuced by the Note, including,but aot limited _.___
<br /> ' •� u W.representntions concerning Borrower's occupancy o�the Properry as a priactpai resldeace.If this Securiry Insttument is on a =__
<br /> . � leasehoid, &�rrower ehall comply v�ith all the pmvtsions of the lcase. If Bormwer acquires fee title to the Property, the
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<br /> .�, le�schold aad the fee dtle shall not merge unless Lender agrees to the merger in writin$. �;;;�_
<br /> °" �,. T.Peoter�tion of I.ender's ltights In the Property.If Borrower fnils to perform We covenants aad agreementa contained la _, .
<br /> �>° thie Secucity Instnunent,or there is u legal proceediag thnt may sl�nificandy affect Lender's r�ghts in the Property<auch as a -n
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<br /> proceeding in bankruptcy,pmbate. for condemtwtion or forfeiture or to enforce laws or regulations). then I.ender may do ua �
<br /> , ��� �• pay for whatever is necessary to protect the value of the Property and Lender's rights tn the Ptvperty. L.ender's actions may =---
<br /> � .� include puyL�g any sums secured by a lien whlch has prIority aver this S�urlty Instrument, appearing in aourt, paytns
<br /> , ,� „i�., reasonable attorneys'fees and entering on the Propeny to make rcpairs. Althou�h Lender may take actton under�bis paragraph __
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<br /> • .,1;�1,Y�, 7.Lendet does not huve to do so. ��" .
<br /> �,�r�s����51,, Any amouats diabursed by Lxuder uader thit paragraph 7 shal] betome additioaal debt of Borrower secured by this �_-
<br /> �, Secudty Inauument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear intemst from the 6__._
<br /> " " dnte of d{sburscraent at the Note rate and shall be payable, with interest, upon notice fmm Lendcr to Bor��rer requesting
<br /> „���, • payment. �1'�:.
<br /> • �.• '•�'; � 8.Moi4gnge Insurance.If Lender required mortgage insurance as a condition of malsing the loan s e c u r e d by Q�is Security .` ,
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<br /> �� , :.::���.'`ti Inauument, &irrower shall pay thc prcmiums requlred to maintain the mortgage insamnce in e�Pect. if, for any reason, the
<br /> . ...r� 8 arrower s h a l l ay t h e p r e m i u m s r u i r e d t o � `
<br /> mortgage insucauce coverage required by l,ru drr 3sy�ses o�•ceases to b e!n c f fec t. p �! �,.;.,_
<br /> a obtain coverage substantially equ iv a lent to t he mortga�e insuranee prev ious ly [n e f t�c s,a t a w s t s ubstantiall y e qutvalent to the �_y-
<br /> ` cost ro Bonower of the mortgage insurance previously in effect, from an alternete mortgage insurer approved by I.eader. If �; �'�' =
<br /> ,;�''���• substas►tially es�i�9valent mortgage insurnnce wverage ie not avajlable.Bonower shall pay to I.ender each month a aum equ�tl to �'� �
<br /> „ � � '�,�;�i�'v� oae-twelfth of ttie yearly mort�age insurance premium beia�paid by 8orrower when the insurance covernge lapsed or ceased ta ., �:�
<br /> be in effect. I.ender will acccpt,use and retain these paymenta ag a loss reserve in tieu of mortgage insurance. Losa reservs '•:
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<br /> Fomt 3028 8/80 .
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