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<br /> S. Hazard or Property insuritnce. Burrower shall keep thu improverrxnts now existing ar h�rtafter ere.ct�od on tha _
<br /> Rropc�ty insured n�ninst loss by firo, hazards includcci within thc tenn "exterKlcd�:a�eragc" and any athcr h,vurds. including
<br /> `�'"� ilaods or flooding, for wl�ich Lcctdcr rc.quims iusurnncc.This inwrancc shaU bL maintained in thc anwunGg nnd for thc perdods
<br /> ` thae Lcndcr rcyuircs.nc� insurance cnrrier praviding d►e Insurct�cce whuli bc choscn by Hasrowcr subject to I.ender'K uppravAl
<br /> which shall nat l�c wireesanubly wIthheld. �f darrov�er fails to maintain covemgc dcs�ribcd a{x�ve, Lendcr m;►y, at i.c;�xler's
<br /> �"'°`°�"�� optiun,ubtain coverage to prutect Lender's r�ght,v in thc Prapeny in accorduttcc wlth paragraph 7.
<br /> All insuranee poliries and rertewal�s sliall be acceptable to Lender und sh�ll in�lude n atandurd mortgage clnuse. I,ender
<br />- � ---:—__— - -- -� sh�ll hav�the ri�ht to hold the golicies and mne.wals. [f Lendt�requircw.Horrotver slttdl promptly�ive to I.errtier all receipts of , -,
<br />_ paid premiums aid rertewal notices. In the evens of loss.Borcower shall give prampt notice tu the irtsumnce cnrrier und Lender.
<br />_�•�f� L�rtdcr may msikc proof of imss If not made promptly by Borrowcr.
<br /> . Unless I..cnder and Barcawer atherwise agrce in writing.inaumnce praceeds ahull bc applied ta restoradon or repair of tha
<br /> ^ Property dampgaf.if the restoration or repair is economicully feasible and I.ertder's secudry is not lessened.If the rcstoratton ar
<br /> - repair is not econumicaUy feasible or Lertder's,ecurity would be lessened.the insuranre proceeds sht+ll be nppliod to the sums �
<br /> �• �° secured by this Securlty Instrwaent, whedier or not then due. with any excess pa3d to Borrower. If Bonower abartd�ns the
<br /> �;;.,
<br /> Pt�opecry. or do�not unswer within 30 days a notice frotn Lender that the insurance carrier has offered to settle u claim,then
<br />=�I L.ender mFty collect the insurance proceeds. L.ender may use the procecds to rcpair or restare the Property or to pay�ums
<br /> secured by this Security Instrument,whether ar nat then due.The 30-day periad will begin ahen the notice is given.
<br /> Unless l.ender und Borrowcr otherwise agree in writing, nny application of praceeds to principsil shall noi cxtend or
<br /> postponc the duc date of the monthly payments referred to in para�raphs l and 2 or chsuige thc amount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender.Horrower's right ta any insurance poitctes And proceecls cre�ulting from
<br /> � �*�, damage to the Property prior to the acquisition shull pass to Lxnder to the extent of the sums secured by this Se..-urity instrurrient �-�°
<br /> � immed�utely prior to the xquisition.
<br /> • .�• � •. b.Occupancy, Preservntton.Mnintenunce and�rutection of tRte Propzrty;Bornower's I.oan Applfcatlon;I.easeholcls. ____
<br /> Burrower shall occupy.estabfish.a�tJ use the Property as Borrower's principul residence within sixty days after the executiun of •°
<br /> � i,..., , ,,.x , this Security Instn►ment nnd shall cont[nue to occupy the Property as Borrower's princtpal restdence for at least one year after
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<br /> y���;:t,,�;.�r��;g•�� the date of occupancy, unless Lender othenvise agrees in writin�.which consent shall not be unrea.sonably withheld,or unless
<br /> ��'•• , ; •�'�'=,j�. extenuating circumstances exist which ure beyond Borrower's control. Borrower shull not destroy, damage or impair the
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<br /> ' �'��'-�����J•�'� Aropeny, alluw the Property to deteriorate, or commit waste on[he Property. Borrower shall be in default if any forfeiture
<br /> t►�,:���.::��..;, �.,:.�:, action or proceeding,whether civil or criminal, is begun that in Lender's good fuith judgment could result in forfeiture af the
<br />. • : . • Property or athern+se materially impair the lien crcated by this Sec:urity Instrument or I.cnder's sccurity interest. Borrower may
<br /> . cure such a default and reinstate,as provided in paragraph I S,by causing the action or pmcceding ta be dismissed with a ruling
<br /> `-';, , iliai, i�� i_.rtnirr'Y gannf f5iilt dcienui��utiun, prr.�iudr� ioriciturc of iiir BUfNWCC J inie[r5i iu iltC Fruperly vr uUicr uc�tcri�I =�-
<br /> � .. ' • • impairment of the lien created by this Security Instrument or Lender's security interrst. Borruwer sh�lt alsu be in defauit if
<br /> , •: � Bomower. durin,the loan applicatiun process,guve materially false or inaccurate informution or statements to Lender(or fr�6lad _
<br /> `.� � to provide I.ender with Any material information)in connection with the loan evidenced by the Note,induding,bat not limited
<br /> , � •� � to,represenmtions cuncemin�Borrc�wer's occupan�y of the Propeny as a principul�esidence. If this Security[nstrument is on a
<br /> • , leasehold. Borrower rhall comply with �11 the provisions of the lease. if Borrower acyuires fee title ta the Praperty, the ��
<br />`'� ' � " leasehold und the{'ee tide shall not merge unless Lender a�rees to the mer�ec in writing. �:`•:�.°
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<br /> ' 7.6'rotectfon ot Lender's Ri�hts in the Property.If Borrowcr faits to perform thc covenants and a�reements containe�in
<br /> tia,_,� . �`�..�,�.
<br /> -� ' `,,. , _ this Securiry [nswment.or there is a Iega!proceedin�chat may significuntly uffect I.ender's rights in the PropeRy tsuch as a ,�;-.;,
<br /> _,, 'x • �° ^ praccxdinb in bankruptcy, pmbate, for condemnution or forfeiture or to enforc�laws�ir�egulations), then Lender may do and
<br /> � ' . pay for whatevcr is neces�ry to protect the valuc of the Property und Lender't rights in the Pmperty. Lender's actions may
<br /> � -••�A -• ���•� ; include paying any sums secured by a lien which has priority over this Security Instrument, uppearing in court, paying
<br /> �..ti; _�.;.
<br /> . •,,,,,_�, , ' reasonablc attorneys'fees and enterin�on the Property to make repairs.Although Lender may take action under this paragraph
<br />_. ., . , 7. Lender does not havc to do so.
<br /> Any umounts disbursed by Lender under this paragrapl� 7 shall become addition:il Jebt of Borrower secured by this :; �,
<br /> ' Securiry Instrutnent. Unlcss Bornower And Lender a�rce to��ther tcrms of payment, th��e .imounts sh:ill bear interest from the •
<br /> "�� „ date of disbursement at the Note rate and tihall be payable, with interest, upon notice from [.ender to Borrawer requestiq¢ .
<br /> . ',;'.. .; payment.
<br /> �;�• 8.MortRage Insurnnce.ff Lendcr required martgage insurance:�s a rondition of mslcing the loan secured by this Security ��'
<br /> `�`�~ ' . � Instrument. Borrower shall p�y the pmmiums required to maintain the martgagc insurance in effect. If, for any reason, the `
<br /> „ ��'-'L>a' . mort a e insurance wvera e re uirecl b Lender I ses or ceases to be in effect. Borrawer shall a the remiums re uired to �1',',.',
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<br /> -�T,� obtain coverage subst:u►tially equivulent to the mortgage insur.u�ce previou�ly in effect,at a cost�ubstuntiully equivalent ta the + '
<br /> i, : " cost to Borrower of the mortgage insur,►r�ce previously in effect, from an alternatc mongage insurer approved by Lcrtder. If I. .
<br /> '" �� su6st:intially equivalent mort�age insur�nce coverage is n�n available. 8orrower sh�tl psy to Lender esch month a�um eyual to �:'
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<br /> °, ° one-twelRh of the yearly mortgage insurance pmmium being paid by RoROwer when the insurance croverage lapsed or re:isai to i .
<br /> � ,. be in ef�ect.Lender will xcept,use und reuun these payments as a los� rcservc in licu uf mattgage �nsurancc. Loss mserve
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<br /> `'� " Form 3026 8/80 � .
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