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<br /> Q. fl�a�d or Proparty Ineun�ce. Borrower etull Ica�p the improven� row exicting or henafter enecteei an d►e
<br /> Property insund a�ainu lors by firc, har�rds included within tho term "eatended coverage" and any other h�r�ds.f�ludln�
<br /> floodi or floaling,for which Lender req��itrs inwran�x.This insuranae shall be mainlained in the rmounts ud for Ihe pedodt
<br /> tlut LeMer requi�es. The insu►an�x cArcier providing the inwtwrce c�ll ba chosen by Borrower subjoct to l.eoder's Approv�l
<br /> which �tull not be unrcasanably withheld. If �orrower fdl:�o mwintafn covernge desc�ibed �buve, Lender nwy. u Lender'�
<br /> option,obtain coverage to protect Lendcr':dghtr in the Propeny in s�cco�nce wlth parwgraph 7.
<br /> �;. !►II insu�na policies uid renew�ls sFwll be aoceplable to Lender and slw�l include a staMard mortgege clouu. Lender
<br /> �hall have the right to hold the policiea and�enewalc. If Lender roquircs.Borrower shall promptiy give 10 Lender all roceipts of
<br /> "'�" paid premiums wid renewul noNces. !n the event of loss.Burrower�twll give prampt notice to tho inwr�nce ex�rrier smd l,ender.
<br /> l.ender may make proof af los�i f not mtde promptly by Barrower.
<br /> Unlcss Lender end Borrower atherwlsc agroe in w�iting.insurar�ce procoeds shall be applied to restoratbn or npair of the
<br /> Property damagod,if the rcstoration or r+epair is economiplly ieavible and Lender's secur��y is not lessenod.If the resWratian or
<br /> rcpair is rat ecanomically feasible or[.ender's socurity would be lessenad, the insurar�ce proceeds chall be applkd to the sumg
<br /> securcd by ihis Secu�ity Instnrment,whether or not then due, with any excess paid to Bornower. lf Borrower abudons the
<br /> �;- Pmperty,or does not answer within 30 duys a notice from L.ender tfuit the insurancx caRier has affcred to senle a cleim,then
<br /> l.endor may collect the insurance pmcee�s. L.ender may use the prnceeds to repair or restore the Propeity or to p�y aums
<br /> securcd by thie Security Insuument,whether or nat then dua.The 30-day period will begin when the notice is given.
<br /> Unless L,ender and Borrower otUenwise agme in writing. any application of procceds to pdncipel ahall not extrnd or
<br /> , .� �• �,.:. �, pastpana the dua data oF the monthly peyments refarred to in psuagrnphs 1 and 2 or change the emouot of the payments. If
<br /> L''�, under ra h 21 the Pro is uired b I.ender. Borrower's ri ht to an inauronce licies wid rooeeds resultln from
<br /> '-�` P�8 P P�rtY �9 Y 8 9 Po P S
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<br /> ^.' ' ��:i;�. �+1; � demage to the Property Prior to the Acquisition shall pess�o Ixnder to the eatrnt of the wms secured by�his Securiry Inutnun�ent
<br /> '�)- - ..�. _�.�.
<br /> . ti - immediately prior to the acquisition.
<br /> ':�.' 6.OocupAncy,P�YServatba� Maintetwnce�nd Protectlon o�Ute HvpeHy:Bon+uwer's LoAn Applkatioa; l.e�seboads.
<br /> .;,�� .:rt•, ' . � . ,. - Borrower shall occupy.e.stablish,and use�he Propeny as Borrower's principal residence within sixty days after the execvtion of
<br /> ti. ,�? 7 • this Securlry Instrument a�d shall cantinue to occupy the Property as Borrower's principal residence for at least one year after
<br /> `7:'fi:���� . ��r ,
<br /> ;; �.;,'!.;, ,.;r!t,�, . � :� the dete oP occupancy,unless Lender otherwise agrees in wri�ing,w6ich consent shall not be unreawrwbly withheld,or unless
<br /> ��' ' `�'' �"�`�+;� extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, dart�age or impair the
<br /> LI_:.'�;.. ..:�..J ,.
<br /> i;�+,�'�, :+`;�:.• • • � Property, allow the Property to detedorate.ar commit waste on �he Property. Borrower shall be in default if any forfeiture
<br /> ��, ... .
<br /> ;�,. � • action or proceeding. whether civil or criminal,is begun that in l.ender's good failh judgment could result in forfeiture of the
<br /> '��� �'`� � - Property or otherwise materially impair the lien created by this Security Instrument or L.ender's security interest.Borrower may
<br /> ;��r,:;'
<br /> ���' cure such a default and reinstate,as provfded in paragraph 18,by cau�ing�he action or proceediog to be dismissed with a ruling
<br /> �.
<br /> ;', • ., that. in Lender's good.faith determinatiun, precludes Sarfeiture of thc Borrower's interest in tha Property or othcr materi�l
<br /> ���`_ — — iinpaim��i ui li�e iirn crcuiai by iliis Scrurity lnsaumeni or Lender's security interest. Sorrower shaii afso ba in defauit if
<br /> :;?; , �:� .
<br /> � ,•�:, Borrower,dur�ng the loan application process, gave materially false�r inaccurnte information or statements to Lender(or failed
<br /> -� _ :,':��'`.�� to provide Lender with any materinl inforniation)in connection with the loan evidenced by tha Note,including.but not timited
<br /> �`'" �` � ta, representatior�s rnnceming Borrower's occupancy of the Propeny us a principal residence. If this Securit}•Instrumem is on a p�
<br /> I leasehold. Harrower shall comply with all the provisions oi the lease. If Borrower acquires fee title to the Propeny, ihe
<br /> � ,� leasehald and the fce tiUe shall not mer e unless l.ender a rees�o the mer er in writin
<br /> �� ���'�.�,' , . 7.Protectlon of l.ender's Rights In the Properly. If&mower fnil gto perform the covenants and ugreements conwined in
<br /> 't� ' �,�'•''f' this Security Instrument, or there is a legal procceding thut muy signiticanUy uPfect L.endar's rights in the Pmperty Isuch as a �
<br /> i ,;..
<br /> ,,�y � � � proceeding in bankruptcy, probate.for condemnation or forfeiture or ta enfiirce luws ar regulutions), than L.ender may do and ..,.,
<br /> •.�� pay for whatever is necess�ry to protect the vulue nf tha Propeny und l.ender'ti riRhts in the Propeny. I.ender's actions may �
<br /> �,y, •• include paying any sum., securod by a lien which has priority over this Security Instrumem, uppearing in court, p3ying
<br /> ressonable attomeys' fces iu�d entering on che Propeny to make repai n. Althaugh Lendor may take action under this puragraph ,
<br /> �, 7.Lender dces not have to do so. :�,
<br /> Any amounts disbursed by l.ender under this parag��ph 7 ,iiuli become udditional debt of Bormwer secured b}• this •.
<br /> Securiry'nstrument. Unless Homwer and l.ender agree�a other terrnr of p;�yment, theae um��unt� +hull bear inlerc�t fram the -
<br /> , date uf disbursernent at the Note rate and shall be payable. w�ith intereu, upon notice from I.ender to Barrower requesting ��'
<br /> ''�. � .. payment. � .
<br /> � �- 8.Mortgage Insuranee.If L.ender required mortgage insurance ati a r�mditiun of muking Ihe luan r�eruntl by this Security
<br /> E� Instrument, Borrower shall pay �he premiums requircd to maintuin the mnngage in.uran�ti in effect. If, for uny re�a.ton, the �
<br /> ° mortgage insurnnce coverage required by L.ender lapses ur reu�es to be in efl'ect. &�rro�vcr,hall pay the premiums required to {
<br /> . obtnin coverage substantially equivaleni to the mongage in.urance previou,ly in�ff�tit.ut a«is�,ubstumially equiv:ilent to the
<br /> ;:.� • cost to Barrower of the mongage ir.surance previ�wsly in effcct. fr��m :ui •rlternate mongugc in�urer approved by l.ender. If ,
<br /> ;�.•! • substantially equivalent mortgage insurance cover�ge ix n�x a.•ailuble. &►mi��•cr.hall p•ry t�i Lendrr r•rch month a sum eyual to �
<br /> 'f'�`� one-twelph of the es+rl mort a e insurance remium hcin riJ by Aurma•�r whrn�hc in+uranre rovcr•r �la ticJ or ces,ed to
<br /> r},:. - ' � Y Y R8 P BP'� � g, p� .
<br /> , be in effect. Lender will accept,use and retain the�e payment.a, A luxs re�erve in licu of mortguge in,ur;uior. l.u.rs re.erve �
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<br /> ' �" '' Fam 30ZB 8/80
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