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<br /> 3. E4x�d or Pcbperty IneurAnce. Borroxer shall kap the impravement5 now existing ar herexfter erGCteci aa tlie .
<br /> Praperiy i��suresi c�gain�t lass by hre. hu•wrd9 includud withln the tcrm "extendal cnvcruge" und sny other haz:,rds, iruludl���
<br /> flaods or 4aoding,for whtch I.ender reqaires jnsuranco. TJds lasumatc shall be maintained in ihe um�unts and for�e perlais
<br /> that i.ender rcquires. The insurancx carrjet prdviding t�e insurancc�hal! be chosen by Barrower sub�eci ta T,.ender's appraval
<br /> . which stiall not bo ulnn,asanab►y wtthheld.If Bonawer fuils to mainmin coverage descrtbed abave,Lender may. at LetNles's
<br /> option.oMa�n mverage to prc�tect Lender's dghts In the Pc�operty in accordance with paregreph 7.
<br /> Ali insuranoe policies and renewals shall be necepta6le to Lencter nnd shuil include a etandard rnortgage clause. Lender
<br /> sfiait have the ri�ht to h�id tho policies c►nd renewafs. If.lLender requires.8otrower shail promptly give co t.ender ail raxipts of
<br /> paid pmm6r�ms and renewal notiee9.In the event of loss.8orrower shall give pmmpt notir�to the insurance carrler and Lendsr.
<br /> I.ender m�ty:malce proof of loss If not ma�de prnmptly by Borrower. '
<br /> Unlesa I.endcr and Bormwer athervriso agree in wr�ting. insurance proceeds ahali be appliad to restora8an or repair uf thc
<br /> � Propaty damaged.if tho restoration or repair is economicnity feasible and Lcnder's secudty is not lessentd. IF thc restarad�n ar
<br /> repair is not eoonomically feasible or Ixnder's security wauld bc lessened, d►e inr,urance proceoda shall be eppNai to thc sums
<br /> securat by this�ecu►3ty Instrument. afiether or not then due. with any excess puid to Horrower. If Barrower abattdons the
<br /> Property.or does not unswar within�0 dAys a notica from Lendar that the insuronce c�trrier hus offercd ta settle A cloim, then
<br /> [.ender may wllect the insurunae procec�. Lendcr muy use tl�e proccedx ta rcpair ar restore the Prsperty ar to pny numr
<br /> secured by tHis Seeur€ty Instrument,wh�thee ar nat thcn due.Tho�Q-dny periud wlll begin when thc noticc ix givcn.
<br /> Unless l.ender und Horrower othsnvlse Agree in writing, tu�y tippllratian af proceals tc►princip�l xhall nut cxteix! i�r
<br /> postpone the 6ue datc af thc manthly puymentR refcrnd ta in parugrupha I iinci 2 or chnngc thc nmaunt aP thr, pay�tientn. If
<br /> � under paragraph 21 ihe propeny ia ncquircd by Lender,Borrnwrer'H riKht ta any insurance palictes c�nd pcoccafs resuldng fmm
<br /> dumage to the Propeny prlar to thcs acquislticn shnll pasg to[.ender to thc extent af the xum.g Rerumd by thia Securlly Instn�mem
<br /> immcdiately p�lor ta thc acquisttian.
<br /> 6.Occupaney,PreservRNon,Maintenance und ProteMion at the Property;Borrower's I,oun Appitcutlon; I.e�sehotdA.
<br /> Bonower ehall occupy,establish,and use the Praperty us Barrower'x pdrtcipul residence with9n sfxty days aftcr the execution of
<br /> this Securiry Instrument and shnll continue to occupy the Propeity as Borrawer's principal residence for at lesist ane yesu ufter
<br /> the dute oF occupancy.unless Lender othenvise agmes ln writing. which consent shall not be unreasonahly withheld,or unless
<br /> extenuasing circumstunces exist which are beyond Borrower's control. Borrower shall not desiroy, damage or fmipair the
<br /> Property. �Ilow the Praperty to det�darate, or commit waste an the Property. Horrower shall be in default if any forfeiture
<br /> action or proceeding. whether civit or cr�minal. is begun thut M I.ender's good fuith Judgment wuld resalt in forfeiture of the
<br /> Property or otherwise materlally impai�the lien created 8y this Security Instrument or I.ender's secudty tnterest.Borrower may
<br /> cure such a defuult und reinstatv,us pmvided in paragraph 18. by causing the action or proceeding to be dismisse�with a rulIng
<br /> that, in Lender's good faith determination. precludea forfeiwre of the Borrower's interest in the Property or other mntedal
<br /> lmpa�rment of the lien created by this Secur�ty Instrument or Lender's secur�ty tnterest. Borrower ahall also be in default if
<br /> Bomower,during the laan applicatIan process.�ave muteri�lly f�lse or innccurate informatian or statemenu to l.ender(or failed
<br /> to provide I.ender wltfi uny mated�l informntlon)in cannectton with the loan evidenced by the Note,including,but not limited
<br /> to.represeMadons ooncemin�Borrower's occupancy of the Property as a principal residence.If this Security Insuument is on a
<br /> leasehold. Borrower shall comply with al1 the provisions of the Iease. If Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shell not merge unless L.ender a$rees to the merger in wdttn�.
<br /> 7.P�+otectlon of Lender's Rlghts in the Property.If Borrower fsils to perform the covenants and agreements contained in
<br /> this Security Insmiment, or there is a le�al proceedIng that mny significnntly affect [.ender's rights in the Property(such as a
<br /> proceeding in bankruptcy. probate.for conderanation or forfetture or to enforce laws or regulutions),then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Praperty and L.ender's rights in the Propeny. Lender's actions mny
<br /> include paytng uny sa►ns secured by a lien which has priority over thts Security Instrument, appe,aring in court. paying
<br /> reasonabte attomeys' fee.s and entering on the Praperty to make repairs. Althougf�i.ender may take uction under this parngraph
<br /> 7,Lender does not have to do so.
<br /> Any amounta disbursed by Lender under thls paragraph 7 shall become additional debt af Borrower secured by this
<br /> Security Instrument. Unless Borrower and [.ender u�rec to other tcrms of payment. these amounts shall bear intcrest from the
<br /> date of dIsbursement at the Note rate and shell be payable, with interest. upon notice from Lender to Borrower reyuesting
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<br /> payment. �u
<br /> 8.Mortgoge Insurance.If I.ender requic+ed mortgage insurance as a condition af making the loan securai by this Securlty ''
<br /> Instrument, Borrower shall pay the premiun�s required to maintaln the mortgage insurance tn effect. If. for any reason. the �''-��
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<br /> mottgage ins�rance coveruge required by I.ender lapses or ceases to be!n effect,Borrower shall pay the premiums required to ;;:Fr�
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<br /> obtnin coverage substnntially equivalent to the mort�age insarance previously in effect,at a cost substentlally equivalent to the �a
<br /> cost to Bomower af the mortgage insurnnce previously in effect. from an ultemnte mortgage insurer approved by Lender. If
<br /> subswntially �uivalent mortgage insurnnce mverage is not uv�ilnb(e,Borrower shall pay to I.ender each month a sum equal to ;.
<br /> one-twelfth of the yeurly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to -g�
<br /> be in effect.Lender wlll accept,use and e+etain these payments as a loss reserve in lieu of mortgage insurance. Loss mserve ,
<br /> Form 3028 8/80
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