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<br /> 5. rin�A►•a �� r�roperty Ietsurc►nce. Hurrowcc al�all kccp the impravemenis naw�c�xisdn�c►o� hcrcuftcr crcctccl on die
<br /> Property insured ogninst loss by fire. hn�.nrds includccl withii� thc term "cxtcndc:d covernge"nnd aay other hazurds, including
<br /> tloods m•floncling, for which l..cnder requires insurar�ce. This insurancc shull be maintnined in thc nmounts nnd for the perlcxis
<br /> diut L.ender rcquires. The insur�nce canicr providin�;thc in5urancc yhall bc dio:,cn Uy Borrowcr subject to Lender's npproval
<br /> whictl shall �iat be unreasonably witl�held. If Borrower faile�ta muintain coveruge described nbove. Lender may, nt Lender's
<br /> opUnn,obtitin covcrage to proteet Lender's right:;in the Propecty in accordunce with paragraph 7.
<br /> AII ID:iU�ti(1CC (�I1CICti AII(1 fC(1CWAIS til10.11 OC QCCC(I1fiUIC IO I.t:tItiCI'Uu�I �i�u1l iuciu�c u �ivaa�diu u��iigdgL�1dUiG. '�ri.ii�Ci
<br /> sl�ull h�ve the riBlu to liold the p�licies und renr,wuls. If L,cndcr rcquires,Borrower shnll promptly give to I�ender all receipts o4'
<br /> paid premiu►ns z�nd renewnl notices.I�i the event of loss,Aorrower shnll give prampt notice to the insurm�ce cnrrier and Lender,
<br /> [.cnder m�y make praaf of loss if not made promptly by Borrower.
<br /> Unless I.cndcr and Borrowcr othcrwise agrce in writing, insurance procceds shnll bc applicd to restomtion or repair of the
<br /> Prnperty dnmaged, if the restorution or rcpuir is ecanamically fcaslble and Lender's sccurity is nc�t Icsscned.If the restoration or
<br /> repair is not economically feasible or [.ender's security would be lessened, the insurance proceeeis sf�all be applicd to the sums
<br /> secured by ttiis Sc;curity Instrument, whether or not then due, with any excess paid to Borrower. If Bonawer ubandons tho
<br /> Praperty, ar docs not answer within 30 days a notice from[.ender thnt the insurnnce carrier hns offercd to settle n claim,then
<br /> Lcnder may collect the insurance proceeds. i.ender muy use the proceeds to repair or restore the Property or to pay sums
<br /> securecl by this Secarlty Instniment,whether or not then due.The 30-day pertod will begin whcn the notice is given.
<br /> Unless Lender and Borrower otherwise ngree in writing. nny application of proceeds to principal shaU not extend or
<br /> postpone the due date of the monthly rayment. r�ferrcd to in paragruphs 1 und 2 or change the umount of the payments. If
<br /> unde►•paragraph 21 the Praperty is ncquirecl by Lender, Borrower's rifiht to any insuranee poUcies nnd proceeds resulting fro�n
<br /> damage to the Pruperty prlor to the acyuisition shall pass to Lender to the�xtent of the sums saiired by thls Security Instn�ment
<br /> immediately prior to the acquisition.
<br /> 6.Occupancy,Pr�se��vatton,Malntenance and Protectlon of th�Property;Borrower's Loan Appllcat[on;Lcaseholds.
<br /> Borrower shall occupy, e.vtablish,and use the Property as Borrower's principal residence within sixty dnys after the executian af
<br /> this Security Instrwnent and shall continue to occupy the Property us Borrower's princ:ipal residence for at:east one year after
<br /> the date of occupancy, unless Lender othcrwise ugrees in writing, which consent shuU not bc unreasonably withheld. or unless
<br /> extenuating circumstunces exist which urc beyond Borrower's control. Borrowcr shull not ciestroy, dumage ur itnpttir the
<br /> Propeny, ullow thc Property to deteriorate, or commit wastc on the Pruperty. Burrower shall be in default if any farfciturc
<br /> action or proceeding, �vhcther civil or criminal. is begun that in Lendcr's good fuith Judgment could result in forfclture of the
<br /> � Property or oth.:rwise m�ucrially impair the licn crcated by this Security Instrument or Lender's saurity interest. Borrower may
<br /> cure siich a default and reinstate, as provided in paragraph 18,by causing the nction or procecding to be dismissed with u ivling
<br /> that, in I..c:nder's goad faith dcterminutio��, precludes forfeiture of the Borrower's intcrest in thc Property or other mnterial
<br /> impairment of the lien created by this Security lnstrument or Lcnder's security interest. Borrower shall Also be in defnult if
<br /> . Borrower,during the lonn application proccss.gavc matcrially fulsc or inaccuratu infoimation or statements to I.ender(or fuilcd
<br /> � to provide I.snder with any material informution)in s�nnection with the loan evidenccd by the 1olote. including,but not limited
<br /> �• to,represcntations concerning Borrower's occupanoy of the Property as a principnl residence.[f Lhis Security Instrument is on n
<br /> ' teusehold. Banawer shull comply with all the pxovisions of the leasc. If Bonowcr Acquires foe title ro the Property, the
<br /> leusehold and the fee tltle shall not merge unlcss Lender agrecs to the mcrger In writing.
<br /> ;�, 7.Pratection af I.endtr's Rights in thc Property.:f Borrower fails tu perfonn the covcnants und itgrcements contained in
<br /> �� thts Security Instniment,or there is u Iegal proceeding that muy significantly uffect Lender's rights in the Pro}ierty (such es n
<br /> proceed9ng in bankrupt�y, prabate, for condemnution or furfelture or co enforce laws or regulntionsj.then L.ender mny do and
<br /> puy for�vhatever is necessary to protect the vnluc of the Property und Lcnder's rights in thc Property. Lendcr's actio»s mny
<br /> ' include paying nny sums secured by a licn which has prlority over r.his Security Instrument,aNpearing in court, paying
<br /> reasonabie uttorneys'fees and entering on the Proparty to make repairs. Althou�h Lender mny take action under thjs paragraph
<br /> 7.Lender does noi have to do so.
<br /> , Any amounts disbursed by Lender under this parngrnph 7 shall become Qdditionul debt of Dorrower secured by thls
<br /> Security InstEUment. Unlcss Bon•ower and Lender ngrce to other tcrns of payment. these amounts shall bcur intcr�st from the
<br /> � date of disbursement at the Notc rntc and shall 6e payable, wim inccrest. upon noiice from 1'i.cncFer tu Aorrowcr �r,yuesting
<br /> . payment.
<br /> 8.Mortgs�ge Insurance.If Lender required mortguge insurance ns a condition of muj:eng the loan sccured by this Security
<br /> � Instrument, Borrower shall pay the premiums required to maintuin thc mortgagc insurance in cffecr.. If, for ainy rc;uon, the
<br /> � mortgage insurance coverage required by Lendee lupses or ceases to be in effect,Borrower shal:pay the premiums requimd to
<br /> • obtain wvemge substnntiallv equivalent to the mortgage insurance previously in effect,at a wst substuntIuqy eyuivalent to the
<br /> cost to Borrowcr of the murtgage insurnnce prevlously in cffect, fl•um an �Itcrnatc mong:�gc in5urer approvcd by Lendcr. If
<br /> substnntinlly cquivalcnt mortgagc insurancc coveragc is not avAilublc,Borro�ver shall pay to I,ender euch month a sum equnl to
<br /> � one•twelfth of the yearly mortguge insarance premium beins paid by Bonower when tl�e insumnce coverage lapseci or ceased to
<br /> be in effect.L.ender will nccept. use and retain tiiese payments:ss u loss reserve in licu of mortgage insurnnce. Loss reserve
<br /> ' Form 3d28 8/80
<br /> � Papo 3 0l 0
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