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<br /> __�____��— S. Haurd a' y Insurance. Ban'ower siull kap the improvetnentc now e�il�ng or heren�ter erocte�d an ihe
<br /> Prc�perty finwted �tains�t loesa by firc, hazards includad wlthin the term "cxtendal coverage" wxl any other tuvacds, includin�
<br /> tioc�ds or tlooding,for which l.ender requires insur.u�cc.This insurancc shall be muiutai�Kxi{n thc anxwnts and for the periods —
<br /> ���A�+:�,� t►ts�t l.endcr requires. The insurance rarricr pn�viding the insurance shull be choycn by &►rrowcr subjc:rt to Lencier', approval
<br /> f�;����:�;:•.ti. . H•hich �hall not be unreasonubly wtthheld. If Borrower fails a� n�intain covcrrgc dcsrrihed atxwc. Lender rtwy, wt Lender's
<br /> "'�'°"--'°' o{µion, nbtain coveruge to pratect Lender's rights in the Propecty in acwrduncc with p•rragruph 7.
<br /> - fa.: All insur�nce pnlictes and renewals shall be accepwble to Lender anJ shall include a standard mortga�te clnuse. L.ender
<br /> . �...°.."�'i'.-�'�` skµll havc thc right to hold the pnticirs 1nd rcnewals. If l.erxier requires, Bnrrower shall promptly give to I.ender all receipts af c
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<br /> _ �S'��4, , pu?d premiums and rer►ewal notEces.In the event of loss,Boaower shalt give prampt nu�i�r+v iiw irtisurancc carder�nd Lender. -
<br /> l,endcr may r►uke proof of loss if�wt made promptly by Borrower.
<br /> -- °-°!'�;r"`�=;':• Unless Lender and Borrower atherwise agrec in writing, insurance proceeds shalt be applied to rcstoration or repair of the
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<br /> —°��=xn�i__._ Pmperty damaSed.if the restoration ar repair is econamicully feasible and Lender's security is not lessened.lf the restoratian ar
<br /> "— � t,,Y. rcpair is not economicxlly feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums
<br /> - - '���'---���L`-� socurcd by this Sauriry Instrument, whcther or not then due, with any excess paid to Borrowcr. If Bocrower abandons the
<br /> _-- j��-,�.;,�f�;.�;}t y� property, or does not answer within 30 days a notice from I.ender that the insurnnce cArrler has offered to senle a claim. then
<br /> ��:.�'T� l.ender may collect the insucance proceeds. Lender may use the proceeds to mpuir or restore the Praperty or to pay sums
<br /> .�'�`�;;~„`'�,y"',.� socured by this Securiry IInstrument.whether or not Ghen due.The 30-day pericxl will begin when thc notice ic given.
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<br /> Unless Lender and Bc�rrower other�vise agree in writing, any application of proceeds to principal sha8 not extend or
<br /> = :�...��-.:'.<;.�.:�:;�.. �5��� �due date of the monthly payments referrcd to in paragrAphs 1 and 2 or change the amount of the �yments. If _.
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<br /> � under paragraph 21 the Property is ucquired by Lender.Borrower's right ta any insurance policies and proceeds resulting f�om _
<br /> ' damage to the Propeny prior to the acquisition ahall pass to Lender to the cxtent af the sums secured by this Securiry Instrumcnt _
<br /> ? '� immodiately priorto the acquisition.
<br /> , � � 6. Accupancy. Preservation, Maintenance and Protection af the Property;Borrower'�l.w�n Appllcation;Lewseholds.
<br /> . �• Borrower shalt occupy,establisli,and use the Propeny aa Borrower's pdncipal residence within sixry days afrer the execution of _
<br /> this Security Instrument and shall cantinue to occupy the Property as Borrower's principal residence for nt leuse one year ufter
<br /> the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreusonabl}�withheld, or unfess
<br />• . extenuating circumstances exist which are beyand Borrower's cantrol. Borrower shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriarate, or commit wuste on the Pmperty. Borrowcr shall be in default if uny forFoituro
<br /> action or proceeding,whether civil or criminal, is begun that in l,ender's guod faith judgment could result in fotfeiture af the
<br /> Praperty or aherwise materially impair the lien crcated by this Security Inctrument or Lender's security interest. Borrower may
<br /> cure such a default and reinstate,as provided in p�uagraph 1 S,by causing the actian or pmceeding to t+e dismisc�ed with a ruling
<br /> - - - ---------- - that, in Lender�ti�trixl I�itilSl tltlZiiiiiii3li0ij, prcctudes farfeiture of the Hc*rower'� intP��ct in the Prapeny or other material
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<br />' � � ';_, impairment of tfie lien created by this Securiry Instrument or l.ender's tiecurity interest. Borrower shall also be in dcfault if
<br />• ' Sorrower,during the loan upplication process,gave matcrially false or inaccurate infarmation or staternents to Lender(or fuiled
<br /> • •`"�'�:"'.''''� to provide L.ender W�ith any material infonnation)in connecti��n H�ith the loan evidenced by the Note,including,but na limitecl
<br />" � to,repmsentations roncerning Borrower's occupancy of the Pmperty us a principal residence. If this Security]nctrument is un a
<br /> •.', leacehold. Borcower shall comply with ull the provisians of the Icasc. If Borcower ucquires fec title to the Property. the
<br /> leasehold and the fee title shall nnt mcrsc unlcss L,ender agrecs to the mergcr in writing.
<br /> 7.Protection of Lender's Rightc in the Frnperty.If 8nrrowcr Tail�a�perform thc covenant.and agreenxnts contained in
<br /> �'�. . this Security Instrument. ar therr i,a legul proceeding that may signiticantly affect I.ender's rights in the Propeny (such as a
<br /> �.''� proceeding in bankruptcy. probate,fiir condemnutian ar forfeitum or tu enforre laws or regul;�tions), then l.ender may do ar�d
<br /> �� pay for whatever is necessary to pmtect the vulue of the Pn�perty anJ Lender's rights in the Propeny. Lender's actions may
<br /> � ' inctude paying any �;ums secured by a lien which has priority over this Serurity In,trument, appeuring in court, paying
<br /> �'� rc;�u�nable attorncys'fees and entering�n the Pmperty to make r�pairs. Although Lender nuy tukc uction under this paragraph
<br /> � � , 7,I.ernier does nat fiave to do sa.
<br /> ;f � � Any amounts disbursed by Lender under thi. par.+graph 7 �hall berome adJitional debt c►f &�rrower Kxured by this
<br /> Security in�trumcnt. Unless Borrower and Lcndcr agrce tu othcr termti of paymcnt. thek amuunts .hall bcar interest fmm the
<br /> date of disbursen�ent at the Note rate and shall be payuble, with intercst. u�m notire from L.ender to Borrowcr requesting
<br /> ti pay��knl.
<br /> �._ " ' 8,MoMgage Insuranee.If Lender reyuired mortgage insurancr a+a cunditiun uf making thc lo:►n secured by this Security
<br /> Instrument. Borrowcr shall pay the premiums requir��d tu maintain thr mongagc insurance in eff'cc:t. If, for any reason, the
<br /> :�;w� mortgagc insurance coverage requimd by l.ender lapses or ceaseti tu be in efi'�tit. &�rr��wer�hall pay thc prcmiumc required to :
<br /> � �' .� obtain coverage substuntially equivalent tu the mortg�ge insuranre prcviou�l� in effect,ut a cost substantiaU��eyuirrlent to the
<br /> �i:i.��.=•~'• • cost to Bonowcr of the mortguge imurance previously in eff�tit, from an ahcmate murcgage insurer uppmved by Lender. If
<br /> -�• ' •" substantially cquivalent mnrtgage insurancc�r�verage is nut a��ailablc,&�rruwcr shall pay a�LenJer each munth a sum cyual to
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<br /> _�: � ' one-twet fih of the vearly mortgage insurance prcmium being paid by Borruwer when thr insurance coverage lapsed ur ccatie:d to
<br /> �,. . be in effeet.Lender will accept,use•rnd retain the�e pa�m�nt�a� a loss res�rve in licu uf mortb•rge insurrnce. Los. reserve
<br /> _- . '. • ; , Fam 3028 9l80
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