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<br /> • 97- 102�ot� " . . =
<br /> • 5.Huzard or Property Insurance. Bonowcr shnfl kecp thc improvcmcnts now c�isting an c�rcafter crcctcd on thc Propc:rty `
<br /> ' •• • insufed against loss by Cue, hauuds included within the temi °eatended coverage" end any olher hauuds, including ftood� or =
<br /> �� flooding,for which Lcndcr requires insurana:.71tiis insur.u►ce shnll bc mnintnincd in Its sunou�is nnd[or tho periods that Lcredcr
<br /> - requires.'llie insurance carrler pmviding tho insurnnca shali tw chosen by Bc�rrower subje-.ct�o Lender's�ppr�val�vhich sha!!nat
<br /> . . ,. _ be a►ueasonably withheld. If Bonawcr fails to maintain covcmge described above,L.cndcr mny, at {..endcr's opdon. obtaln .,'
<br /> .v� covernge to protect I.ender's ri�hts in the Propeny in accordance wtth paragrapl�7. :
<br /> p(�in,urunce policics and renewals shall be ecceptablo to Lender and shall include� smndard mongi�ga clnuse. Lcnder shnll
<br /> ` have the right to hold the policies and renewals.If I.cndcr rcquins,Borrower shall promptly �ive to L.cnder all rcccipis of pstid . ,,:,
<br /> ` premiums and renewal nodces.In U�e event of loss,Boaowcr shall sive prompt noucc�o thc insurancc csurier and Lender.Lcttdcr , ::1•�r.�r�,�,'.
<br /> . :, `�,j'%Li:.r,,
<br /> may make proof of loss if not madcprompUy by Boirowcr. t:•;:•:��������
<br /> Unless L.cnder and Borrower otherwise agree in writu�B�insurance rocecds shall bc applicd to restarndon or repsur of the f�,'t;�:`Yfj."�:�e'�s"
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<br /> � . p�operty damaged,if the restoration or repair is economically feasible and Lender's socurity is not lesser�ed. If ihe restorsuion,or �,�:, ,,_••_-
<br /> � repair is not economicaUy feasible or Lender's securiry would be lessened,the ins�xcance proceeds shall bc appGed w thc su� '��'
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<br /> -- secured by 6iis Secu.-ity Instru,-n¢nt, tvhether or nrn then due, with any excess paid to Borrower. If Rorrower abandons the _,. �=Y__
<br /> ' Property,or daes nat answer within 30 days a notice hom Lender lhat thP insurance carrier ha� offc;red to sctue a claim,iit.cie [ :�1;r:•�.•�_
<br /> Lcnder muy couect the insurancc proc.eeds.Lender may use the proccxds w repair or rcscore the Property or co pay sums sec�xred •f;_.,: ---
<br /> by this Securiry Insuument,whether or not then due.The 30-day period will begin when the notice is given. .��
<br /> � Unless Lender and Borrower a�herni.�e agree in writing,any aPplicauon of proceeds to principstl shadl not extend or gost�norte ���,;^
<br /> �' the due date of the monthly payments ceferred to in paragraphs 1 and 2 or change the amount of the payments.If uadcr paraga�pin ----
<br /> F; 21 the property is acquired by Lender,Bormwer's right to any insurance policies and proceeds resultu►g from damage to the .:,�•�,-„��_�
<br /> p�raperay prior to the acc{uisition shall pass to Lender to the eatent of the sums secured by this Security Insuument im�edis�.ttrly �'».�..��`��
<br /> �� praor to ihe acquisltion. ,., '---
<br /> 6.Occupancy�Preservation,Moaintenance and Protection of tde Property; Borro�er's Lo�n Application;Leaset�ds. �,:fi�•;w:-
<br /> �' Borrower shall occupy.establish,and use the Property as Borrower's principal resid�nce�vithin sixty days after the execu6on of .,�a.�"
<br /> �� thiy 3ectuiry Instn+�ent end shall continnue to occupy the Property as Borrower's principal residence far at least one ycar afN.r�.� �` � _
<br /> � date of occuptu►�y, nnless Lender othen�vise ab*rees in w�u�8• W�ch cor+sent shaU not be unreasonably withheld, or un�ess _
<br /> -_--_ _--__--�:, �,�,��o����cfanrr._a exi.cc which are beyond Borrower s cflntral.Borrower shaU not desiroy.dama8e or impair the Properey, .;
<br /> y�F allow the Property to deterlorate,or commit waste on the Properiy. Sorrower shall 6e in defanit u any forieiwre acrion a ,; ---»
<br /> '�f� proceeding,whethar civil or criminal,is begun that in Lender's gaod faith judgment could result in forfeiwre of the Property ot ,:
<br /> . �� o��,y�macerially imp3ir th� Gu� created by this Security Instrwnent or L�nder's securiry inte.resG Bor.rrt�wer m3y cure sach� ,`,,,
<br /> � �}; defau�t and ceinstate, as provlded in parugraph 18,by causing the acdon or proceaiing w be dismissetl with a rulir�g that,L� �; =
<br /> I.cndcr's goai faith detemiinatioa,precludes forfeittu'e of the Borrower's interesc in�he Property or other materinl imp�cment of ;-
<br /> ` the Gen created by this Security I�sirument or Lender's seciuiry interesG Bormwer shail also be in default if Borrower,c��uin8 the �}�;.
<br /> ' �; loan appllcation process,gave matenially felse or inaccurate inforn�ation or suttemenato Lender(or failed to provide Ler�der with •,•
<br /> `�ti' any material inforr�ndon) in connecdon with the loan evidenced by the Note, itKluding, but not limited W, represent3tions _
<br />- �j�, 6onceming Bocrowex's occupancy of the Praparty as a principal residence.Hf this Security Insuument is on a leasehold,Bamwer -
<br />� '�,; shall c�omply with all the provisions of the lease.If Borrower ecquires fee tide w the Pro�rty.the Ieasehold aad the fee dde st�all —
<br />;.= ,, not mergo unless Lender agre�s w the merger in wridng. -
<br />_�. .: . 7.Protectbn ot Lender's Rkhts in the Property. If Bomower fails w perform ihs covenants and agreements arn►sined ir►
<br /> % . `: , '- �` this Security Instrument,or there is a legal proceeding that may signitieandy effect L.ender's rights in ehe Property(such as a --
<br /> �' ` }�` u►bank�ptcy,proba�,Eor condemnadon or forfeihuc or to enforce laws or reguladons),then Lender may do and pay
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<br /> for wfiatever is nece,�.sary co pmtect the value of the Property and Lender's dghts in ths Property.Lender's acdons�ay include
<br />-- • pAyi�g any swns secumd by a Gen which has priority over 65s Secnrity Instrument,appearin8 � �� P�Y�3 R�nable _
<br /> - �• "'� '.!� attomays' fees nr+c�entering on t�e Property co make repairs.Alihough Lertder may taice action under this paragraph 7,Lcnder --
<br /> ---,� � �� does not have to do so.
<br /> tia,"�'�;'"'.: ;. My amounis disbursed by Lender undcr this parngraPh 7 shaU beconne additional debt of Borrower secured by ihis Security -_��
<br /> _�.;._,�r;. , Instniment Unlcsss Boirower and Lender agree to ather tem�s of payment,these amounts shall bear int�rest from thc date of
<br />;:� .n . !' disbursement at the Note rate and shall be payable,with interest,upon nodce from Lende,r to Bomower requcstinB paymcnc - -
<br /> "�' ' ' � 8.Mortgage Insurance. 1f I.ender required mortgage insurance as a condition of ineldi►g the loan secured tqY�hn3 SsxuritY �`=_==�-'_
<br /> ;��,�� Instiuument, Borrower shall pay the premiums requirai w maintain the mongage inswance in effccc If. for any reason,the - - �•
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<br />_ • '`��1;', moRgege ins�uance coverage requirrd by I.ender lapses or ceases to bo in effoct, Borrower shall pay the premi��ms required to �-�"°-�"`��"=�°
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<br />����'� � obtain coverage substandally equivalent to the moRgage insurance proviously in eNect,at a cost subsuu►tially equivalent to the �::.�_-.
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<br /> cost to Borrowes of the mortgag� insurence previously in effect, from an altemaie mortgage insurer upproved by Le�►der. If • ._r,,,,�y .�,.
<br /> . s;_�, S��s�antially eq�ivalent mortgage insuran�e coverage is not available.Borrower sl�all pay to Lender each month a sum equal to .�.•,�.. � �
<br /> - '?'� one-tweffth of t'he yearly mortg�ge insurance premium being paid by Boraower wt�e�the insurar�ce cavr,ra�e lupsed or ceascd to ^
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<br /> • ��i' be in effect.I.encler will aacep6 use and reta� these payments as a loss reserve in lieu of mort��ge insurance.Loss reserve
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