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<br /> S. fltz�rd or Pnnpxrty In.�r�ncc. Barrower shnll kcep the improvemen�s naw cxisting or here�fter erectc+d on thc
<br /> P►�n�cety insured nnainst I�sg h,y fire, h,�xurds facluded wlthi�i the term "eatended covem�o"nnd nny nther ha•r,�Ms,includin�
<br /> flcruds ar flocxling,fur whir.h l.cndcr rcquires ii�tinmttce. This�nsur.mce�hall be muintained In the umounts and fur the padcrJs
<br /> ll�a4 Lerxler nquEres. The insurnnce carrier providing the insurnnce shnll be ciiasen by &�nower subJoct tu I.endct'ti uppr�vul
<br /> which tihnll nat be unreasonubly withheld. If Burrower fnils to mnintaM cavemse descrfbc:d nbnve. Lendcr may. at I.cncter's
<br /> opNan,abtui��covero�e ta protect l.ender'�right4 in the Praperty in accardunre wfth par.�graph"7.
<br /> All insuruncc policies and renewnis shall be¢crcptable ta l.�nder n�xl shall includc n stnadnrd mangagc clausc. I.e�xler
<br /> bi�ult huvc Qta dght ta hotd thc pollcie.5 and e�netivuta. If T..endcr requires,iiarra�ver shall promptly glve to L.etssier nl!receipts af
<br /> {faid premiums nnd renewul noticc�e. In the event of loss,�orrower shall give prompt nutice ta the insurance rarricr and I.cnder.
<br /> I.ender may make pmaf of loss if not m�ic promptly by Borrower.
<br /> Unless Lender w�d Barmwer otherwise agree in writing. insuruttce proceeds shall be upplicd to t+estomtton or repair of the
<br /> l�vperty damoged,if tt�e restornti�n or repair is economicnlly feasible und Lender's::ecurit�r is not lessened.If the rc�toratian ar
<br /> � repair is not economicnlly fe�asible or Ixnder's security wuuld be lessened.the insurnna rraceeds shalt be applie�to the sums
<br /> accurcd by this Sccurity insttument, tivhether or not then due, with uny eac�paid tu Borra�ver. If Borrawer abandons tttc
<br /> Property.or dces not s�nswer within 30 days u rtotice from Lender that the iosumnce cArder has offered to settle a cluim.then
<br /> I.ender m�y collect the �nsurance proceeds. Lender mny use the procceds ta repair or nestore the Property or to pay sums
<br /> � secured by this Security Instrument, whether or not then due.The 30-day periad will be�in when tha notice is�iven.
<br /> � Unless l.ender ttnd Borrower utherwise o�ree in wciting, any application of prcxeeds to prtrtclpal shnli not extend ar
<br /> postpone the due date of the monthly payments referred to in psiragraphs I �nd 2 or chunge the su►tount of the paymenu. If
<br /> undec paragraph 21 the Property is acquired by I.ender.Borrower s right to nny insurunce policies und pmceeds resultins from
<br /> damage to the Property pdor to the ucquisition sh�ll pa.�to l..ender to the extent of the sums secnred by this Security instrument
<br /> immediate{y pdar ro the ucquisition.
<br /> 6.Occup�nry,Preservatton,Maintenance siad Protectfan of the Property;Borrower's I.oan Appltcuttoni I.easeholds.
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days nfter the executian of
<br /> this Securiry Instrument and shail continue to occupy the Property ns Borrower's principal residence for at least unc year uRer
<br /> the date of occupancy.untess!.ender othenvlse agre�s in writing. which consent shall not be unreasonably withheld,or u�iless
<br /> extenuating circumstanc� exi�t �vhich arc beyand Banawer's control. Bomawer shull �ot destc+�y, �mage or impair the
<br /> Property.allow the Property to deteriorate.or commit wAC;te on the Pmperty. Barrower sh�ll be in defnult if any forfeiture
<br /> uction or proceeding, whether civil or criminal, is begun thnt jn Lender's�uod faith judgment rnuld result in forfeiture of the
<br /> Property or otherwlse materlally Impair the lien created by this Security Instrument or L.ender's secu�ity interest.Barrower may
<br /> � cure such n default and reinstate.as provide�in paragrnph 18. by causing thc action or proccedins to be dismissed with u niling
<br /> that. in I.eRder's good�fsiiith determination, precludes �orteicure of thc Borrotiver s interes[ in che Prapecty or other material
<br /> impairment of the lien created by this Security Instrument or L,ender's securiry intemst. Borcower shull also be in defuult if
<br /> Borrower,during the loan application process,guve materially fulse or inaccurate information or statements to Leader(or failed
<br /> to provide Lendcr with any mnterial Information)in cannectton with the laan evidenced by the Note, including,but not limited
<br /> to. representations rnnceming Borrower's occupancy of the Ptoperty us a pr�ncipal residence.Tf this Securiry Instniment is on a
<br /> le�.sehold, Borrower shall oomply with all the provisions of the lease. If Borrower acquires fee tide to the Propetty, the ��,
<br /> leasehold and the fee title shall not merge unless I.ender agrees to thc mer�er in writing.
<br /> 7.Pcoiection of Let�der's Rights in the Property.If Borrower fails to perForm the covenants and ngrcements contained in
<br /> this Security Instcument, or there is a le�el proceedtng that muy significundy affect Lender's rights [n the Propecty(such us a
<br /> proceeding in bankcuptcy.probate, for condemnation nr forfeiturc or to enforce laws or regularions).then Lender may do and
<br /> ipay for whatever is necessary to protect the value uf the Property and Lender's rights in the Property. l.ender's actians may
<br /> include paying nny sums secured by n lien which has priarity uver this Security Instrument, appeArin� in court. puying
<br /> re,asonable attoraeys' fecs und entering on thc Property to make repairs.Although Lender may take action undcr this parnsroph
<br /> 7,Lender does not have to do so, r
<br /> Any Funounta disbursed by I.ender under this paragraph 7 shull become 3ddittonal debt of Borrower secured by this `j�
<br /> $ecurity Instrument. Unless Born►wer ond I.ender agree W other terms of payraent. thesc amaunt�shall bear interest from the F
<br /> date of disbursement at the Note rute and shall be payable, with interest. upon notice from I.ender to Borrower requesting
<br /> I payment. .
<br /> $.Mortgage Insurance.If L.ender required mortgr►ee insurar+ce as a condition of making the loan secured by thls Security r;�
<br /> Instniment, Bormwer shall pay the premiums required to maintain the mort�a�e insurance in effect. If, for uny reason. the
<br /> mortgagc insuriuccce coverage required by Lender lapses or ceases to be in etifect, Borrower shull puy the premiums required to ' "`
<br /> obiain coverage substantially equivulent to the mortguge insurnnce previously in effect, at a cast substsintially equivalent to the ;���';
<br /> cost ta Hanower of the mort�uge insurance previpusly in effect, from nn ultemate mongu�e insurer upproved by Lender. If �
<br /> subsiantially equivalent mortguge insursnce rnverage is not avnilable,Bonower sh�ll pay to Lender each month u sum equtil to `'
<br /> one-twelfth of the yeurly mortgage insurartce premium being paid by Borrower when the insurtmce caverngc tapsed or ceasesl to �''
<br /> be in effect. I.ender will nccept,use and retafn th¢se ps►yments as a loss reserve In tieu of mortga�e tnsurnnce. Loss reserve .
<br /> • Form 3028 8/80 �ts
<br /> Papo 1 ot 9
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