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<br /> 5. IIOiw•d or N�'opert�� Inrurmrcc. li��rrmvrr ,hnll I,rrp 11►c intpruvrnknl, nuw rxiti�in�; ��n c�rcuticr rrertcd un Ihr .,
<br /> Nrupcity intiur�il ugillll4( IUti� 1,�� tirc. h�inu�d+ inrludrd within thc trrn� "cxt�i�l«i rnvcrugr" �m�l any s�ihcr h,iuud+, inchidinit
<br /> tln�ul��n•Il�a�ding, f��r whi�:lt Lcnd�t'rCyUll'« in�u�'+�nrC. 'I'hi+ in4�n�unre sllllll Ik IlLUUli1111CtI in thc�uni�unt� nnd fur thc prriods
<br /> � d�at Lcndcr rcqu�rc�. fhc ui,uranrr rarricr piuvi�ling �hc iu,iuuncc +hall hc clw���n h� liurruucr +ul�jc�i tu Lcndcr',appru��al
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<br /> ; whirh tihall nut hr unrcu,unably withhcld. II' Hurruwcr 1'uilti tu ma�intuin cuvcn�c d��crihcd ahuvc. I_cnder muy, ut I.�nd�r'+
<br /> M;,,,;.,::� : option,i�htain cuvcrug�tu prutcrt Lcndcr'ti right+in thr Pruperty in uccurdi�nuc�vith purugraph 7.
<br /> �r,,,,.,,,,...+rAM�; All insuruncc puliric, an� rencwals ,hall bc i�cccptuhlc tu Lcndcr ��nd �hall inrludc u ,t.uidurd rnort�ugc clausc. L.cndcr
<br /> , shall huvc thc right tu hold thc policics und rencwuls. If L.�:ndrr rc��uires, B��rru�ver shall promptly givc tu Lcndcr;dl rcccipts uf
<br /> � � paid prcmiums and renewul noticcs. [n thc evcnt of loss, Burrnwer shall givc prompt notice to thc insuruncc carricr and Lc.ndcr. ,
<br /> ,; f Lcndcr may makc prnnf of loss if not muJc pro�npUy by Burrower. _,:
<br /> � Unlcss L,rndcr anJ Borrowcr othcrwisc agrcc in writing. insurancc proce�cds shall bc upplicci to rcstor3tion or repair uf thc -
<br /> ` � Propcny damagcd, if thc resroration ur repair is ec:unomicully f'c:asiblc and I.cndcr's security is not Iessened. li the restoratian��r �..
<br /> j:' � repair is n�u economically feasible or Lender's security would be Iessenui,theinsurance proceeds yhuil be applied to the sums ���
<br /> r secured by this Securiry Instrument, whether or not then due, with any excas paid to Borrower. lf Borrower abandons the
<br />� �� Property, or does not answer within 30 days a notice from Lender that the insurance carrier hus offered to settle a claim, then
<br /> Lender may c�llect the insurance proceeds. I.ender may use the proceeds to repair ar restore the Propeny or to pay sums
<br /> � secured by this Security Instrumen[, whether or not then due.The 30-day period will begin when the notice is given. `_
<br /> '„ � Unles, Lender and Borrower othenvise agree in writing, any upplication of proceecis to principal shall not extend or _
<br /> � ;;. postponc thc duc datc of the monthly payments referred to in paragraphs 1 and 2 or change the umount of thc payments. If �-
<br /> under psrnsraph 21 the Property is acquired by L.ender, Borrower's right to any i nsurance policies and procecds resulting from
<br /> r 'i;,, damuge ta the Propeny prior to the acquisition shall pass to Lender to the exten�of the sums sccured by this Security Instrument -
<br /> , ;=?�� immediately prior to the acquisition. --
<br /> 6.Occupancy, Preservatlon,Maintenance and Protection of the Praperty; Borrower's Loun Application;Leaseholds.
<br /> ' Borrower shall occupy, estuhlish,and use the Propeny as Borrower's principal res idence within sixty duys after the execution of
<br /> ' ` ` this Securiry instrument and shall continue to occupy the Property as Borrower's principal residence for at least ane year after
<br /> ; 's;,. � the date of occupancy, unless Lender otherwise ngrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> ' exteuuating circumstances exist which are beyond Borrawer's control. Borrower shall not destroy, damage or impnir the
<br /> • t • Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shalt bc m default if any forfeiture
<br /> � �, action or proceeding,whether civil or criminal, is begun that in L.ender's good faith judgment could result in forfeitur�of the
<br /> ''_' �' ' Property or othcrwise materially impair the lien crcated by this Security Instrumcnt or L.ender's security interest. Borrower may -
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<br /> -�='> `� cure such a default and reinstate,as provided in paragraph 18, by causing the xtion or proceeding ta be dismissed with a ruling
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<br /> Y`�•�,*� that, in C.�:nder's good faith determination, precludes forfeiture of thc Bona�ver's interest in thc Property or other material
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<br />._„����� impainncnt of thc licn created by this Security Instrument or [.ender's securiry interest. Borcower shall also be in default if
<br />:�._� Bonower,during the loan 3pplication process, guve materinlly fulse or inaccurete infonnation or statements to L.ender(or failed
<br /> �,�� ro provide L.ender with sny material informution) in connection with the loan evideneed by the Note, including, but not limited
<br />,....,,�,_;,_�m� tc�, representations concernin� Bonower's occupancy of thc Propeny as a principal residence.If this Security Instrument is on u
<br />'���,�y�� le:�sehold, Bonower shall co�nply with all the provisions of the leuse. If Dorrower acquires fee tide to the Property, the
<br /> ---- •1.��� Icatichold und the fe;e title shall not merge unlcsx Lender agrccs w the mcrger inwritin�.
<br /> 7.Protectlon of Lender's R(ghts in the Property.If Borrowcr fails tv perfurm the covcnants und agreements canutincd in
<br /> -� this Security Instrument. ur there is a legal proceeding that may significantlyeffect Lender's rights in the Properry (such as a
<br /> procceding in bankn►ptcy, probate, for condemnation or farfeiture or to enforce imvs or regulations), then Lender may do and
<br /> — pay far whatever is necessary to protect the value of the Property and Lender's rights in the Pcoperty.Lender's actions may
<br /> � include paying nny sums secured by a lien which hus priority aver this Security Instrument, appearing in court, paying
<br />. -_ __��� rcasonablc attorneys'fees mid entering on thc Propeny to make repairs. Altl�wgh Lender may takc action under this pai�agrsph �
<br /> —_ 7.L.endcr docs not huve to do so.
<br /> � — Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Barrower secured by this
<br /> �� Security Instrument. Unless Borrowcr and Lcnder agrce to othcr tcrms of papment, these amounts shall bear interest from the
<br /> - - ----� date of disburscment at thc Note rate and shall bc payable, with interest, upori notice from Lendcr to Borrower requesting _ _
<br /> --=� payment.
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<br />--=-=•r-_��� S. Mortgage Insurance. If L,ender required mortgage insurance as a condition of making the loan secureci by this Securiry _
<br /> r,3����m�: Instniment, Borrower tihall pay the premiums required to maintain the mongage insurance in effect.If, for any reason, thc _
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effat, Aorrower shall pay the premiums required to
<br />_- . _ obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> '��`�� cost to Borrower of the mortgage insurance p►rviously in effect, from an ahernate mortgage insurer approvr.d by Lender. If —
<br />:-;::;,;� ��� substantially equivalent mortgage insurance coverage is not available. Borro��er shall pay to Lender�;ach month a sum eyual to =--�
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<br /> - ' one-twelfth of the ye��rly mortgage insurancc premium bcinfi paid by Bonowcr whcn the insurancc covcra�.e lapsed or ccascd to _
<br /> � �i��' bc in effect. L.ender will accept,use and mtain thesc payments as :�iuss resen•c i n licu of mongagc insurance. Loss reserve �
<br /> ., '�j` Form 3028 9/50 �M
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