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<br /> - - -- -- - -- - � S. Hw�nl or Property Ineuronca. Qorrawcr shall kcep the impmvements now eaieting or hereafter �rected on the �
<br /> - Propcny insun�d aQeinst loss by fire, huzards�includa! wlthin thc term "extended coverage" wx1 uny ocher Fw�ardr. includin�
<br /> " ' flaoda ar Qaoding, far which l,cnder rcquires iosurnncc.Thi►insurance shall be nwinu�ined in the umnunts anci for the pedcxls
<br /> ihAt L.eiufer requirex. The inwrunce currfcr prnviJing the fnxurunce r+hall t�e chn,un by Bc�rrower nubject to l.ender's appravul
<br /> ';a�_ — whieh ehuli not t�e unreasonubiy wiehheiJ. If Ek�uuwer fui1�tu �iwininii� cuvau��Jc:,.:riFkJ ulk�ve, l.etuier may.at l..endes�'s -- -
<br /> • option,obtuin cavcrogc ta protcct l.c�xlcr'a righth in the Pruperty in uccorduncc wlth parugraph 7.
<br /> �".:;-- — All insurance policfea n�d renewals xhall l+e Acceptable ta l.ender and �hull include u atandurd martgage clause. l.ender
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<br /> -� . shall havc the right to h�►Id Ihe policicx ui�d rencwals.If l.ender requires, Borrowcr xhall promp�ly givc to Lendcr al pt !R
<br /> pnid premiums and renewal nodce.�.ln the event af losx,Barrower shall give prompt notioe to�he insunmce r,arrier and t.ender.
<br /> - L.endor may make p�uaf of loss If rmt made promptly by Borrower.
<br /> Uniess L.ender nnd Borrower otherwir,e agree in writing,inrurance praceeda shall be applicd to restaration or repuir of the
<br /> ---- --- Property damaged,if thc restoration or repuir ia cxonomically feasible und I.ender's securiry is not lessened.If thc restarotian ar
<br /> � ' � repair is not econom�culiy feasible ar l.ender's secu�ity would be Icssened,the msurance proceeda shaii be npplie�i iu d�e su��u --
<br /> =_-- scxured by this Seeur�ty Instrument, whether or not then due, with eny excess paid ta Borrower. If BaROwer ubandonc the
<br /> ����� Property,or does not unswer within 30 days a notice from l.ender thnt the insurance cumer has offered to setttc A claim,then -
<br /> � --�-''''-'� Lender may collect the insurance proceeds. L.ender mey use the proceeds to repair or regtore the Propeny or to pay sums
<br /> -_ -- secured by this Sccurity Instrument,whether or not then due.The 30-day periad will begin when the notice is glven.
<br /> � Unless I.ender and Borrower otherwise agree in writing. any application of proceeds to principal ahall not extend or
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<br /> ,.;� _____ postpone the due dete of thc monthly paynxnts refeRed to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> -_- under paragraph 21 the Property is acquired by Lende�,Horrower's right to any insurance policies sind proceeds resuiting from
<br /> �— �'_"` __ . nd
<br /> _::o �j�,,- demage to the Property prior to ihe Aoquisition shell pnss to I.ender to the eatent of tbe sums seru�l by this Security Instrument ___
<br />` " �. �. �mmedi; �ly prior to the acquisition.
<br /> - ° �'�'�� - ' �:.�i�-• 6.(kx:upancy,Preservation, Mni�tenance pnd Protection oP the Property;Borrower's l.oan Appllcation;Iw�seholds.
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<br /> Horrawer shall occupy,esta6lish, and use the Property as Bonc�wer'S principal residence within sixty days after the execution of
<br /> ,.„ . this Security Instrument and shall continue to occupy the Property as Barrower's principal residence for at least one year after
<br /> . ��a. � . the date of accupancy, unless l.endcr otherwise agrees in writing,which consent shall not be unreasonably withheld. or unless =-
<br /> � ���� '�`Mr'��-•� extenuating circumstances exist which ere beyond Borrower's contral. Borrower shall not destroy, damege or impair the -�"°
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<br />-� � ,,•�• _ . �,' . Property, nllow the Property to delcriorate, or commit wastc on the Property. Borrower shall be in default if siny forfeiture _
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<br /> �•�';.i �A°�� • action or proceeding, whether civil or c�iminal. is begun thn�in I.ender's goad faith judgment could result in fori'eiture of the
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<br /> Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest.Borrower may
<br /> � �L ��� 'r � " � ' cure such a default nnd reinstaic,as provided in paragraph 18,by causing the uction or proceeding to be dismissed with a ruling --
<br />--- : ����''•�`�+�="�_� that, in Lender's goad fnith determinatian, preclude.4 forFeimre of the Borrower's interest in the Property or ather material
<br /> • � � impairment of the lien crea�ed by this Security Instniment or l.ender's sccurity interest. Borrower shall also be in default if -
<br /> � � Borrower,during the loan application process,gave materially false or inaccurnte inform�tion nr statements�o I.ender(or failed �,,,_
<br /> � •.,'r. J �'a'?}.:'� ta provide Lender with any material inforniation)in connection with the loan evidenced by the Note.including,but not limited �;,.
<br /> � , ���„ to, representation�conceming Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a _"
<br /> '�� • , . ,t • leasehold, Borrower shnll comply with ull the provisions of thc leasc. If Borrower acquires fee title to the Property, the
<br /> ' . � leasehold and thc fes tide shall not merge unless Lender agrees to thc merger in writing. ��
<br /> ��• ..�,;�,�,� �- �� `:� '' 7.Protectlon of l.ender's Rights in the Property.If Borrower fafls to perform the covenunts and agreements contuined in
<br /> � � *'�,�• , _ �'�,' this Secu�ity Instrument, or therr is u legul procecding thnt muy significantly affect Lender's rights in the Property (such as a =__
<br /> • ,�,;, , proceoding in bankruptcy, prabat�, for rondemnution or ibrfciture or to enforcc luws�ir regulutions), then Lender may do und
<br /> ��' � +-�* ' pay for whutever is necessury �o protect the value of the Propeny and l.ender's right� in the P�operty. I.ender's ac�ions may
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<br /> - - inctude paying any sum� xYUnxl by U licn wliicli ha. prluriry uvcr thiti Sccurity Instrumcnt, appcaring in court, paying
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<br /> :� � � � rcasonable attorneys' fees and entering on the Property to makc repuirs. Although l.ender muy take action under this parAgraph __
<br /> l � '�' " '"•' 7,Lender does not hnve to do so.
<br /> I ' "��"'�"` '` Any amounts disburseci by Lender under this parugraph 7 shall becume additional debt of Borcower secured by this
<br /> 'V ' ' � Security Instrument. Unless Borcower and L.endcr ugre.c to cxher tcrnn of puyment, these amounts shull bear interest from the �
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<br /> . date of disbursement at the Note rate and shall be pnyable, with interes�, up�m iwtice from Lender to Borrower requeuing _
<br /> _....r payment. _'.
<br /> "� '�� 8. Mo a e In.4uranee. lf Lender re wreci mort a e insurnnce a�u c��ndition��f makin the luun secured b this Securit -
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<br /> • � - �°-'`'..�,.•o-�w- � Instrument, Borrower shull pay thc premiums rcyuired to muintain tl►c mortgr�e insurunre in effc�:t. If, for any reason, the --.
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<br />, � -.,.d��,`' mc�ngage insurance covernge required by Lender lupx:s or ceaees to be in eftect. &�rrower shall puy the premiums required to �_
<br /> obtuin coverage substamially equivalent to the mnrtguge insurunce previou,ly in cffect,at a rcni�ub�tantially equivulent w the
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<br /> t , ' cost to Borruwer of the mongage insurance prrviously in eftcrt, fram an nitcrnate m�mguge in�urer approved by l.ender. IP
<br /> ' ,, • � • ° substuntially equivulent mortguge in.uruncc c�weruge ia nut avuilabl�.6i�rr�iwer shall pay t�� Leixier each month a sum equal to �-_
<br /> , j,,,,, one-twellih of the yearly nwrtg•r�:e imurance premium fx�ing paiJ hy &�rriiwcr whrn�he inwrance cuverugr I•rpsed or ceused to --
<br /> : be in effect. Lender will uccept,usc nnd ret�in Ihesr paymcnts us a Ic�ss re�erve in lieu ot' mongage insurnnce. Loss rc�erve �
<br /> 'I�� Fo►m 3028 8/80
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