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<br /> ► �8.5- t�68 �
<br /> S. Hazard or Property Insurance. Borrower ahnll kcep the impruvcmcntR naw cxixting ar her�er er� on the
<br /> Praperty insured against loss by fire. haxarda includcd within tho tem� oxtendcd covcrugc and sny other hazards,including
<br /> floods or tlocxttag. fur whlcl�Leadee requires insurance. This insurnnce�hull t►e mulutulned In the amounts and for the pedadA -_
<br /> tdat I..ender requires.The i�swaiice carrier providing the inaumnce xhAlt be chasen by Barrower subjccK to Ixnder's approval �
<br /> wi►Ich shall not be unreaaonably withheid. If Horrawer fai18 ta maintain cuverngo described above. I.ender may.at I.endsr's
<br /> option.obtaln cove�age to pratect I.ender's dghta ln the Property in accordunce with purngraph 7.
<br /> All inaurance policies and renewals shdl be acceptable ta I.endar nnd ehall include n Rtandard mortgage clause. Le»der
<br /> shall have the r�ght to hold the polictes nnd renewals.Tf Lendet requirca.Borrower eht�ll promptly glve to Lender all reczipis of
<br /> paid premiums and nnewul natices.In the event of loss,Rorrower ahall gfvo prompt notice ta the insurnnce carrier and Lender.
<br /> Lender may make proof of loss if not cnade promptly by Borro�ver.
<br /> Unless Lender and Borrower othenvise agree in writjng.insurance proceeda shall be upplied to restoradon or repair of the
<br /> property damaged.if the restoratlon or repair ts economlcally feuaible and Lender's seaudty ix nat lessenal.If the reswration or
<br /> repair Is not economically feaslble or Lender's securlty would be leasened.tho lnsurarice proceeda shall b?,applied w tha suma
<br /> secumd by thls Secudty Instturaent, whether or not then due, wlth any exces» pnid to Aorrower. If Borrower abandons the
<br /> Property,or does not anawer within 30 ciays a notice from Lender that the inaurance cerrier has offered to settle a alaim, then
<br /> Lender suay collect the inaumnce proceeds. Lender may use the proceeds to repatr or resWre the Praperty or w pay sums
<br /> se�ured by,thFs Secudty 4nstn�a�ent,whether or not then due.The 30-day perlad will bcgin when tha notice ls glven.
<br /> Unte¢s Lender and Bonower otherwisa agree in wclting. any applicution of proccxds to pr�ncipal ehall not extend or
<br /> postpone the dua date of the monthly payments referred to in paragrapha 1 und 2 ar chnnge the amount of the payrnente. If
<br /> under patagraph 21 the Property ls acqulred by I.ender.Borrower's right to any insurance policies and proceeds resutting fmm
<br /> darnage to We Proper[y pdor to the acquisition shall pass to i.ender to the extent nf the sums secured by this Security Insuument � �
<br /> immedi,ately prior to the acquisition.
<br /> 6, pecupaocy,Preservatlon,lVl�intenenco and Pcotectton of the Pmperty;Borrower'e Iaan Applicatton;l,easeholds.
<br /> Borrower shall occupy.establish.aad use the Property as Borrower's principnl resldence wlthin sixry dave after the execution of
<br /> tlus Security Instrument and shall condnue to occupy the Property as Bocrower's prindpal residenca for st least one year after .
<br /> the date of occupancy. unless 1.ender otherwise egrees In wridng, which consent shal l not bo unressonably withheld, or uuless �
<br /> t�.�P���s�4;�g cfrcumstanoes exist which are beyand Borrower's control. Borrower shell not destray, dumage or impair the
<br /> Property. allow tha Property to deteriorate,or commit waste on tho Property. Borrower ehall be in defautt!f eny forFaituro ;
<br /> ection or procceding,whether oivll or criminal.ia begun tttat ln Lender's good fal�h Judgment could result In forfeiture af tha
<br /> Property or otberwise tnetarially impatr the lien cmated by tliIs Secudty Instcument or I.ender's sxuriry inurest. 8otrower may
<br /> cure sucA&defanit and rei�state� as pmvided In paragrapb 18.by causing the action or proceeding to be dismtssed wtth a ruling
<br /> tbat, }n C.ender's good faich determir►at�on, precludes fqrfeiture of the Borrower's interest in tho Property or other muterlal
<br /> lmpa�rment of the lien cre�ted by this Security Insaument or I.ender's securiry interest. Borrower shall also be In defautt if
<br /> Bornower,during tha loan appitcation process. gave materIally false or inacxurate Infom�ati�n or statements w i.ender(or failod
<br /> ta provide Lender with any mater�al informadon)in cannection wIth thR loan evidenced by the Note.including, but not liraited
<br /> to,representations concerning Borrower's occupazecy of tha Property as a pr[nctpal residence.If this SeEUriry Insuument ia on a
<br /> leaschold. Borrower shall comply with ali the provisions of the lease. If Borrower aoquircs fee dde W the Property� tho
<br /> kasehofd and the fee title sha11 not mergo untess L.ender agrees to the merger in wddng.
<br /> 7.PlOLC:�OA Q�LYRdC7�9 RI^�lLB�U!N�1�0[lCi�j�.Tf aorrower fails to perform the covenaats and 8grcements aontained in
<br /> this Securiry Insuument,or there is a legal proceeding that may significantly affat I.eader's dghts in the Prnperty(such as a
<br /> proceeding in banktuptcy,probate. for condemnation or forfeitur�or W enfone lawa or ttgulatlons),then Lender may do and
<br /> pay for whatcver is r�eccssary to pmtect the value of the Properry and I.ender's dghts in the Praperty. Lender's ections msy
<br /> include paylag any suma secured by a lien which has prlor►ty ��ver this Secwity Insuumesit, appeacing in aourt� paying
<br /> reasunablo attomeys' fees and entering on the Property to make repairs.Although Lender mey teko acti4n under this parageaph
<br /> 7. Lender does not havo to do so.
<br /> Any smoums disbursed by Ixn�ler under thia paragraph 7 shall become edditional debt of Borrower �ocurod by Ntts
<br /> Socurity Instrument, Unlesa Borrower end I.ender agree to other terms of payment. these amounts shnll beae interest from tho
<br /> date of disbursement at the Note rate and sha11 be payable. wIth Interest, upon notioo from I.ender to Bort+owet rcc�ucsting
<br /> � payment. �
<br /> 8.Mos�4gage Ynsurance.If Lender required mortgaga tnsurance as e wndition oF inaking tha loan secured by this Securiry
<br /> Inswment. Bonower shull pay the�premiums required to maintain the mortga�c insurance in effect. If. for nny r�eason. the
<br /> aiortgage insurance coverage require�i by I.ender lupses or ceases to be in effett,Borrower shal!pay the premiume roquirat to
<br /> obtain coverage substantially equivalent to the mortgage insurance prevtously in effect,at a cost subswntIelly equlvalent to tho ,
<br /> oost to Borrower of the mortgage inswanco previoualy in effect, from an�lternete mortgage insuter upprovcd by i.ender. If ,
<br /> aubstantially cyuivalent mortgage insurance coverage is not avsdlahlo,Borrower shali pay to L.Onder each month u sum equui to
<br /> one�twelfth of the yearly mnrtgage insurc:nce premium being p�id by Borrower when the insurance wverage lapsod or censed to
<br /> be in effect. Lender will accept. use and nKain these payments as a loss reserve ia lieu of mortgago insurance. Iasa cesetve �
<br /> Form 30Y8 9/80 �
<br /> Pepe 3 ot 6 �.
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