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<br /> 5. }iazad or Proge�ty Crusur��rce. Borrowcr shss�l keep tbs impr.avcit�nts now ex. ng or herw tex trecta� on Uie
<br /> Property insured agalnst loss by fire, ha•uircls included wlthin ihe tcrm "extendod coverage" and any other hax�tds,inclixiinq
<br /> Qu::il:;ux•ftcoctis�a.far�:hlch I.�nder reg��ir��s in�nren^_e. T1�is ins�+�•nnce sh,ill he maintained'in the amounts ancl fac tha�+eriods .
<br /> thAt Lc�xler requirey. The insurance cArrier prov:ding thc insurance shall be ch�sen by Borrower subjetx to l.ender's appruvFl
<br /> which sliull iwt be unreuson�bly �vithhc(d. !f Borrawer fails to maintain coveragc described abave;, l,znder rr�ay, ut L.ender'9 .
<br /> option,obtain coverAge to protect L.ender's rights in the Property in accordanGe with paragraph 7.
<br /> All insurance policics and �r,newuls shall be acre�tahle to i,�nder:uxl ehnll include a standurd morcgage clau�e. l.�ndcr �
<br /> shall have the rlslit to hold tite polic3.es and�enewals.If i.cttder rc:quires.Borrower shall promptly give to II.encier all recei�ts of
<br /> paid prcmiurns and re;ne��al notices.Ia the event of loss, F3oxrower shall sive prompt notice to the insurartce carrler arxi l.encler•
<br /> Lcnder may makc proof of loss if not made promptly by lion•awer. _
<br /> Unless Lender a��d Boreower othcrwisc a�rec in writing,insurance pracceds shall be ap�lied to restoratlon or�epair of the
<br /> Propeny damaged,if ihe restoration or repair is cconomically feasible and I.ender's security is not lessened.If t�►e restoratiar.ar —
<br /> repair is not economically feasible ox Lender's security would be lessened.the insurance�pmceeds shall be applled to the sums
<br /> securcd by this Securlty Instrument, whether or not then c�ue, with any axcess paid to Dorrawer. If Bc�rrower abandons the
<br /> Ehape�ty,or does not answer within 30 days�►notice fi•am Lender that tt►e insarance carrier has offered to settle a claim,then
<br /> Lender may coltect the insurance praceeds. �.e.nder may use t1s procee.-!s to rcpair or restore the Pru�rty or to pay s��m�
<br /> �ecured by this Security Instrument,whether or not then due. The 30-day period will besin�vhes�thv notice is givcn.
<br />- Unless l.ender and Borro+ver otherwise r�gree in wricing, any Nppii�ail.�u r►f prat�ds tu p:irniFal slt�!! r!c+t ext?�1 �* ___--
<br /> po�tparie the due date ui the manthly payments referred �o in pxrag�apL� i �n� 2 ar rha�ige the �nue:sst of tt�e�+aymFnt�, if `
<br /> under para�hph 21 the Property is ucquired by Lender, Borrower's right to any insurance po�icies and Qroceeds resulting from
<br /> damage to the Pra�erty prior to the acquishian shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immediately priar ta the acquisition.
<br /> �6,C?,^:::�r::y�, E�_eweNon, Maintenance nnd Protectton of the Propert,y:B�rrower's Lonn A�plication;Lesseholds. _
<br /> Borrower shall occupy,establtsh,and use the Property as Sorrower's principal residence within sixty dnys nfter the execution of
<br /> this Securiry Instrument and shall wntinue to occupy the Property as Bon•ower's prin�ipal residence for at least one year aft�r _
<br /> tlie date af occupancy,unless Lendcr othenvise agrees in writing, which oonsent shall not be unreasonably withheld,or unless
<br /> extenuating circumstances exisc which arc onyuii�t Bo:r�wcr's :,o.^�r.:... P•orso��r sha!! .^.et �es�ey, �!1r!:�ge �r irrinair dte ,
<br /> �operty, allow the Property to deteriorate, or commit waste on thc Propeny. Bonower shall be in default if uny forCeiture
<br /> actlon or praceedinB, whether civil or criminal, is begun that in L.ender's good faith jud�ment could result in forfeiture of the
<br /> Prcperty or otherwise matcrially impair the lien creatul by this Security Instrument or Lender's security interest.�3arrowcr may
<br /> cuee sucti n default and reinstate,as provided in paragraph l8,by causing the uctian or proceeding to be dismissed wid�u ruling
<br /> that, in Lender's good faith determination, precludes forfeiture of the Bonower's interest in the Property or othcr material
<br /> impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> Bonower.durin�thc loan application praceys,gave materinlly false or inaccurate infonnation or statements to Lender(or failed
<br /> to provide Lender with any material information)in connection with the loan evidenced by the Note,including,but not limited
<br /> to.repres�ntations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> leasehold, Borcower shall comply with all the provisions of the lease. If Honower acquires fee title to the Property, the _
<br /> leaschold and the fe.e title shall not mergc unless I.ender agrees to the mergcr in writing.
<br /> 7.Protectiun of i.ender's Rights in the Property. lf Bonower fAils to perform the covenants and agrcements contained in
<br /> this Security Instrument, or there is a legal proceeding that may significantly affect Lender's cights in ihe Property(such as a ___
<br /> proceeding in bankruptcy,probate, for condemnation or forfciwre or to eniorce la�vs or regulations), then Lender may do nnd �—
<br /> pay for whatever is necessary to protect thc value of thc Propertv and Lcnder's rights in the Property. Lender's actions may
<br />- include paying any sums secured by a lien which has priority over this Securiry Instrument, appearing in court, paying ___
<br />- re��.sonable attorneys'fc;es and enteriug on the Propercy to makc sepairs. Although L.ender may tuke action under tltiis para�raph -_ _
<br />— 7,Lender dces not have to do so. �
<br />- Any iunounts disbursed by Lender under this paragraph 7 shall becomc additionul debt of Borrower sccured by this Q=-_
<br />- Security instrument. Unless Bonower nnd Lender agrcc tu other terms of payment, thcse amounts shall bcar interest from the ��..
<br />`� date of disbursement at the Notc ratc and shall bc payable, with interest, upon notice from Lendcr to [iorrowcr requesting `�.
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<br /> - payment. 3i"`
<br /> - 8.Mortgage Insurnnce.If Lender required mortgsge insurance as a condition of makin�thc loan secured by tliis Security (`�;�•.,;
<br /> Instrument. Borrower shall pay the premiums reyuired to mainwin die mortgage insurance in effect. If, for any reason, the ".`'
<br /> = mort�age insurance coverage rcyuircd by Lender lapses or ceases to bc in effcct, Borrowcr shall pny thc prcmiums required to
<br /> s obtain covense substnntially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to tl�e
<br /> � cost to Borrowcr of the mortgnge insurance previously in effcct, from an altematc mongage insurer approved by L.cndcr. if
<br /> - substantially equivalent mortgc��e insurunce covcragc is �ut available, Horrower shall pay to Lcndcr cach month u sum cyual to
<br /> = one-ttivelfth of the yearly martgage insurance premium bein�;paid by Barrower when the insurance cover�a�c lapsed or ccased to
<br />'� be in effe.ct.Lender will accept,use and retain these payments as a loss rescrvc in licu of mortgage insurancc. [.oss rescrvc
<br /># Fovm 3028 9/80
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