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<br /> 5. aln:ea�'d or� Pru[t::rty 9nsu`nnc�. Hurrowur sliull I<cep the i�npruvcnicros no�v exi�tinit ��r hrru.iR�r �rcrtcd nn �hc �-
<br /> �� . � Prciperty insured against loss by fire, hn�x�rds incluJed within the term "ex[ended a�verage" anJ any uther hi���irds, including :_
<br /> floo�s or flooding, fc►r which[,endcr rcquires insuranrc. This insurancc tihall bc muintaincd in thc a�mnunts nnd f'or thc periods
<br /> � ��� th,it I.cndcr requires. The insuruncc carricr providing the insur,mce shall bc choacn by Borrowcr,uhjcct tu l.cnJcr',appruv,il _
<br /> _..��.;. which shull not bc unreusrnmbly withhcld. If Borrowcr fails to maintain coveriigc dcscribcd ahovc. Landcr may, at I.A�xlcr's
<br /> " option, �ibtuin covernge w protect Lender's rights in the Properry in acco�dunce witli paragruph 7.
<br /> All insuranee policies nnu rcne�vids shull bc acc�ptuble tu le:nder.ind ,I�all incluJ� a �tandard mortgage clause. Ler.der �
<br /> '� "��` sh,dl have the right to linld the palicies and renewals. If Lender rcyuiros, Borrowcr shall promptly givc ta L,cndcr.ill receipts of
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<br /> ,.,_:�-�- ; paid prcmiums und renewul n��ticcs. In the evcnt o1'luss. Borro�ver shaJl give prompt n��ticc to tlm inrurunre rarricr and Lcndcr.
<br />,, Lcndcr m�y makc proof��f loss if not madr prumptly by Sorrower.
<br />_- -•--T-� Unlcss I,ender and Barrower ntherwisc:Agree in writing, insurance procce�Js shall bc npplicd to restc�ration or repair uf thc
<br /> • : -� Propeny damaged, if tlie restoration or repair is economicully feasible and i.ender's securiry is not Iesscned.If the restoration or
<br /> repair is not economically feasible or Lender'�;security would be lessened,the insuranee proceerls shall be applied tn die sunu —
<br /> �=�'=%�1�' secured by this Security Instrument, whether or not then due, witl� any excess paid to Borrowcr. If Borrowcr abandans the
<br /> � "'t .��• Property.or does not nnswcr w�thin 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then
<br /> ''''' � ' Lender ma collect tlie insumns.r racecds. L.cnder ma use chc roceeds to re air or restorc the Pro crt or to i sums
<br />_'. . . � y p Y P P P Y P�Y •
<br /> '-;•.;''!�'.� sccurcd by this Sei:uriq� lustrument, whcther or not then due.The 30-day period will bcgin when the notice iti given.
<br /> �y`��",� Unless I.ender �ind Borcower otherwise ag�ec in writing, any apPiic��tian of praceeds to ��rincipal shnll nat extend or
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<br />�•���r�±,.;;,�• postpan� thc due d�te oi the monthly puyments �efcrred to in para�raphs 1 and 2 or changc the a�nount of thc payments. If
<br /> �•a;.si;�'�� undcr parag�aph 2l the Property is acquired by Lender, Borrower's ri�ht to any insurance policies and proceeds resul[ing from f
<br />-'�':�:� damage to the Property prior to thc acquisition shall pass to Lcndcr to thc extent of thc sums secured by this Security Instrument
<br /> "::''�i.,.'. ?:' ' iuimediately prior to the acquisition.
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<br /> �J�:`,:;: _ 6. Occupancy,1'reservaUon,Malntenanct nnd Protection of the flDuw�erty;Borrawer s Lua�a�pg�flcation; Lcusetiolds.
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<br />�`;��.,�a;dp�' Bonower shall occupy, establish,and use the Property as Horrower's prinripal residence within sixty d�ys uftcr thc execution of _
<br /> -`;�,`;:� this Security Instrument and shall continue to occupy the Property as Borrrnver's principal residence for at lea.st one yexr after
<br /> -'•=.,�;;�:;� ' the dnte of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless
<br />-y;�.;n,�� extenuating circumstances exist which are beyond Borrower's control. IIarrower shulJ not destmy, damagc or impair the
<br />__���:� Property, allow the Property to deteriorate, or commit waste on the Pmperty. Barro�ver shall be in default if any forfciture
<br /> _'���� action or proce:eciing,whether civil or criminal, is begun that in Lender's good faith judgmr.nt could result in forfeiture of the
<br />--.-�_-��,� Prop�rty or otherwise mAterially impair the lien created by this Securiry Instrument or Lender's sccurity intcrest. Borrower may
<br />--_��,s„�,�� cure such a defuult and reinstate,as provided in parAgraph 1�, by causmg thc action or praceeciing to ue dismisst:a wicn a ruiir�e
<br />------ - - that, in Lender's Aood faith determination, precludes fodeiture of the Borrawer's interest in the Propcny or othcr material
<br /> _ - impairmcnt of the lien created by this Security Instrument or Lender's security interest. Borro«•er sh�ll also be in defauit if
<br /> Borrower,during the loan application process, gnve materially false or inaccurate information or statEments to I.ender(or failed
<br /> _.:-;�y�� to provide Lender with any material information)in connection with the loan evidenced by the Note, including,but not limited
<br /> --" — to, mpresentations concerning Borruwer's occupancy of the�roperty as a principal residence. If this Securiry Instrurnent is on a
<br /> ' lensehold, Borrower shull comply with uU the provlsions of the lease. If Borrowcr acquires fee title to Nie Property, the
<br /> leasehnld nnd the fee title shall not merge unlcss Lcnder agrecs to tl�e merger in writing.
<br /> 7.1ProtectEon��I.ender's Rights in the Property.If Borrower fuils to perform the covenants cu►d ugrecments contained In
<br /> this Sr,�urity Instrum.nt, or there is a legal proceeding that may significuntly affect Lender's rights in the Praperty(such ns a
<br /> procceding in bankruptcy. probatc, for condemnation or forfciture or to enforcc laws or rcgulutions),then I..endcr muy do and
<br /> pay for whatever is necessary to protect thc v�lue of the Property and I.ender's eights in the Property. I..ender's actions muy
<br /> include paying uny sums secured by a lien which has priority over this Security Instrument, appearinb in court. paying
<br /> reasonable attomeys'fees and entcring on the Property to make repairs. Although Lender may take xaion undcr this parugraph
<br /> 7,Lender does not have to do so.
<br /> .My amaunts disbursed by Lender under this pat�agraph 7 shall become additional dcbt of Borcower secLired by this
<br /> --��`v"�� 5ecurity Instrument. Unless Borrower and Lender agrce to othcr terms of payment, thcse amounts shaU bear interest from the
<br /> --- date of disbursement at the Note ratc and shall be payablc, with interest, upon notice tirom I.ender to Borrowcr rcqucsting
<br /> payment.
<br /> 8.Mo�Kgag�lnsuranca If Lender rcyuirui mortga�e insurance as a condition of makinb the loan secured by this Security.
<br /> ;,,::�� Insmiment, Borrowcr shall pay the premiums required to mainr,iin the mortgage insurance in cffcct. If, for any rcason, the
<br /> — - — mongagc insurance cove��a�e required by Lender lapses or ceases to be in effec:t, Bono�ver shall pay the premiums required to
<br /> obtnin cove��age substantially equivalent to the mortg�gc insurance previously in effcct,at a cost substantially equivalent to the
<br /> cost to Borrower of tlie mo�tgage insurance nreviously in effect. from an cilternate mortgage insurer approved by Lender. II'
<br /> --- substantinlly equivalent mortga�e insurance cov,>age is not available, Borrower shall pay to Lender earh month a sum equal to
<br /> �"�� onc-twclfth of thc ycarly mortgage insurance premium being paid by Borrower when the insurancc covcrage lapsed or ccased to
<br /> �"'��'�� be in effcct. Lcnder�vill acccpt, use and retain thcse paynra�is ns a loss reserve in licu of mortgagc insurancc. Loss rescrvc
<br /> -����� Form 3028 9/80
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