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<br /> • �. �ral or ProgPrty Ie�uennce. IIorrmver nhult kcc�s the impr+►vemrntk nuw cxlNtinB on c�renftcr crectcd un t!►c _
<br /> Praperty insured against loss by flre, hazurds inrluded within the term "extendcd covcruQe"und uny utl�cr t�ara�n#�,ttteludi��g
<br /> floods ar flooding, for which I.ender requires tnsumnce.ThiR insurance xhuit bc mnintuincc!in thc iimuuntx und I��e the Rerluds
<br /> that Lender requires.The Ineurance carrier providing the insuw►ce�hull be chosen by Borrower subJcct to I.cnder'R approv�l � —
<br /> which shali not be unreasonably withheld. If Boreower fails to mnintain cnvemge described ubove, l.ender mny. At LCi�CP�B �
<br /> optIon,obtain roverage to protect Lender's rights in the Property in accordance with p3ragrc�ph 7. ♦i,
<br /> Ail insurance poticics and renewuls sha11 be acceptabie to Lender nnd shall include a stnndprd mortgnge clnuse. Lender � ,
<br /> shall have the right w hold the policles aad renewals. If Lender requires.Borrower shall promptly givc w Ixnder all reselpt�of �
<br /> paid premiums and renewal n�tices.In tt�e event of loss,Borrower shall give p�mpt notice to the Inaurance caMer and Lender.
<br /> Lender may make proof of loss if not made prompdy by Horrower.
<br /> Unless Lender and Borrower otherwise agrce in writing,insuraace proceeds shali be applied to restoration or :r.pair of the �
<br /> Property damaged.if the restaration or m,patr ls economicAlly feasible and L,ender's securlry is not lessened.If the restoratIon or
<br /> repair is not cconamically feasible or Lender's securety would 4se lessened,the insurence pmcc-eds shall be applied to the suma ,
<br /> secured by this Securiry Iasmurcent, whether or not then due, with nny excess paid to Borrower. If Borrower abandons�e
<br /> Pruperty,or does aot answer withia 30 days a aotice from I.ender thut the inauranca carrIer hes offered to seetle s claim,th��n
<br /> Lender may collect the insurance prooeeds. L.ender mny use the proce.eds w repuir or restore the Propei4y or 4o pay sums -
<br /> secured by this Secudty Insuument,whether or not then due.7'he 30-day pertod will begIn when the norice ls given.
<br /> Unless Lender and Borrower otherwise agree in wrlting. aay application of pmoeeds to principal ehaU nat axt�nd ar
<br /> poatpone the due date of We monthly payments refened to in paregraphs 1 and 2 or change thC a�nnunt of the payaisnts. If
<br /> under paragrnph 21 the Property is acquir�d by Lender,Borrower's rigl�t to any insurance policies and Fmceeds result�g from �-
<br /> damage ta the Ptoperty prior to the acquisition shall pasa W Lender w the eztent of the sums secured by thts Securlt�+Iusuwnent •�_:
<br /> irnmediately prior to the acquis9tion. "'
<br /> 6.Oocupancy,Pmservation,Matntenance and Proteetton of the Propeity;Borrawer's Loan Appltcudon; Le�s�'�1•tla '6_`
<br /> Borrower shali�acsupy.establish.and use the Property as Borrower's pdnctpal residence within sixty days after the sxecvation uf
<br /> thfs Seivrity��txtrument and shall continue to oxupy the Property ns Borrowcr's prlacipal residence for ai least one yeur nf3er
<br /> thr,date of�ccupancy,unless Lender otharwise a�rees in wridng,which wnsent shall aot be unteasonably witbheld,or unless
<br /> e,�itsnuaring circumstances exist which are beyontd Hormwer's control. Bonower s1�sll not destroy, dattaag�e nr Impalr the -_
<br /> Property, allow the Property w deteriorat�,or cqmrnit waste on the Property. Borrower shatl be in defri�t if any forfeiture �
<br /> sction or prqc�eding,w�ether civil or criminal,is be�un that In Lender's good faith judganenf cauld r�sult xn for�eiNre of the
<br /> Property or othecwlse materIally impair tha llen creuted by this Security Insmxment or Lender's secutiry inier�&C.Borrower may
<br /> cuie sucn a deisuii amf�u�nirat�.��iov-i3i��parag.-�It 23��3r rau:�issg!�x s�3an ot.�r�!�e"�ing eo Ae d;sm3;sed with a ruling
<br /> that. In I.ender's good faitb determinadon, precludes fotfeIture of the �orratver's interesl in the Prupett�►'�o'r dther m�aterial :��:
<br /> ;mpairment of:the.tien createal by dus Security Iushum�nt or Lr.nder's securlty int��+est. Borrower shall also be in defaul�if• -
<br /> Borrower,du�`ing tbe loan application pracass,gave materlally fslse or inaociugte information or statements tn L�ader(or fnlled.
<br /> to provide Letader with any matertal informedoa)in oonneccIon wlth the loan evidenced by the Note,iacluding.but not limi3ed
<br /> to.representnrions concern[ng Bomnwer's oocupancy of the Property as a principal tesidence.If this Securiry Insuumen4 is o�a
<br /> leasehold. Borrower shal! comply with all the provlsions of ttte lease. If Bornower acquines fee Htle w tha Property, the
<br /> leasehold and the fee dfle shall not merge ualess 1-ender agrecs to tha merger in writing.
<br /> 7.Proted[on of I.ender's Rigl�ts tn the Property.If Bomower fails to perforru the oovenants and a�reements cantairted in
<br /> this Socurity Insuument, or there is a legtil pmce�ding that may significendy effect Lender's dghts in the 1�roporty(auch os a
<br /> proceedin$in bankruptcy.pmbate,for condemnation or forfeiture or to enforce laws or regulatioas),then Lender a�ay do and
<br /> pay for whatever @s aeoessary to pmtect the value of the Property and Lender's dgffta in the P�+eperty 1.ender's ecdons may
<br /> inciuda paying any sums secu�+ed by a lien which has prIority over thia Sea�rtty Iastrument, appeadng in couR, p�}►in8
<br /> c+easonable suoraeys'fces and entering on the Property to make repairs.Although Lender mny take acqon uie�der thia psu�agraph
<br /> 7.Lei�der does not have to do so.
<br /> Any amounts disbncs0d by Lcnder under this paragcaph 7 shall bemme additIonal debt of Borrower sccitrod by this :
<br /> Sec�rity Insuvment.UNess iBorro�ver and Lender agree t�.od�e tecu►s of payment.t�e,;e mnaunta s6atl lr�r�nterat fs+cro she
<br /> date of disbursement at tlte Note rnte and shall be payablc,with interest. upon notica fco�Lender to Bojro�ver r�quesYeqg �
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<br /> ��g,Mo�ge Yasut�anoe.If L,eader required mortgage insuranco as a oondltion of making the loaa secur�d by this Sea►slty
<br /> tosuvment, Borrower shall pay me pnetniums required m maiutain the morigage insun+�nz ;il eifa:t. U, t�►a;:,�+��,so;�, the
<br /> mortgage insurance ooverage required by Lender lapses or ceases w be in effect,Borrower st�aU pay the premiums required to
<br /> obta[n oaverage substantiatiy equivalent to the morigage insura�v�e previously w effect.at a vost s�bstandally equivelent to the
<br /> cost to Bomower af the mortgage insaranre previously in effect,Yrom aa sltemate mortgage insurer approved by Le�Jer. If .;,
<br /> substanria�Uy egulvalent mortgage iasurance ooverage is not available.Bomower shall pay w Lendea'each month a sum equal W
<br /> on�tvvelRh of the ye�rly wortgage insucance premium being paid by�orrower when the insuranoc ooverage lapsad or oeaaed to
<br /> be in effect.i.ender wiU aooept,use and retain these payaaents as a loss reseive in lieu of raortgage insurance. Loss cesecve
<br /> Fortn 3028 9/80
<br /> Pnpo 3 of 8
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