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<br /> � 3,Hs�Yard or Froperty IRSUranse. Baa�wcr shaU kccp Ihc ir�pravements now cxisdng on c�rcaftcr crected on thn Fropcs¢y
<br /> insured against loss by firc, he�r�rds fnc:udcd wit6�ln tho tcrm"�xtcrtded covcrage" and any othcr htiztirds, inr.luding flnods�n •
<br /> tlosding.for whlch Lendee r�,o�ulees insurance.'Ihis lnsurnnce shull Ee mtuntained in the amounts and for Ihe nr,ric�ls thm i.en�ir,r ".
<br /> requires. 'Ihe insurenca carrler providing tha insurence stu�ll be chosen by Borrower subject to Lender's npprc�val which shftll pot
<br /> bc unreasonably withhetd. If Bocrower fails ta malntain covcragc descrlbed above, Lendcr mny, ut I.cndnr's option, obuun � .�
<br /> ..:1` coverege to protect Lender's rights in the Property in accordunce whh parngrnpl�7.
<br /> ' AU insurance policfes and renewals shaU be acceptablo to Lendee and shuil include a standtud mortgage clausc.Lendee shnll • ��
<br /> have the right to hold the pollcles end cenewals.If I.ender reyuires,Borrower shaU prompdy give to Lender all mrceipts of pr.ld �
<br /> prcmiums and rencwal naticcs.In the event of loss,Borrower shnll give prompt nodce to the insurtince carricr.�.n�l I.entice.I.cader
<br /> � may make proof of loss if not macle prompdy by Borrower. ;�E;;?;`;;
<br /> Unless Lender and Borrower otherwise egree in writinng.Insuranca proceeds shs�ll be applicd to restoratian or rcpair of tl�o �.i Y-�
<br /> Property damaged,if tht reswration or repair is aconomically feasible and Lender's security Is not lessened. I4'the restaration►�r . • ��
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<br /> repair is noi e�onomically feasibls or Lender's socurity would be lessened,the insurance proceeds shall be applied to tt►n sc�u�s •.a,�. =
<br /> secured by this Security Inshument, whet�er or not then due, with any excess paid to Bonower. If Borrc+�ver abandonE tha ' •�_'_==
<br /> • Properry.or does not answer within 30 days a nodce from Lender lhat the inswance carrier hs�s offem�l to sc9tlo a ck�im,tt�ea `��`�^���
<br /> . Lender may cflUect th�insuranc�proceeds.Le�der may use the proceec�s to repair or restore�he Property or to qu,y sum�scxured
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<br /> :r i by this Securi3y Instnunent,whether or nat ihen due.'It�e 30-day�ericx3 w1U begin when ihe notice is given. �:��.�T'_
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<br /> � Unless I.ender and Borrower otherwise agree in writ+ng,any appllcation of proceeds W principal shall not enzend or p�stpone � ��'�•
<br /> °'� the due date of the montlil pammF,�rap 8 P ., P
<br /> y payments referrcd W in a hs 1 and 2 or chan e the amount of the paymcnts.If i�nder e.�nc*m h ' •,:._.��
<br /> 21 the Property is acqulred by Lender, Botrower's right to nny insurance poGcies and proceeds resulting frcun deme,�o to the -'A�.�_'
<br /> � Prope�ty primr to the acquisition shall pass to Lender to ihe extent ut zhe sums secured by this Security Instrument immadifl�$ly '`�'�
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<br /> , prior w the acquisltion. � NL�e
<br /> 6.Occupancy,PreservaHon,Mafntenunoe and Protection of the Property; Borrower's Loan Appl�cattoa;Leasehokla�. ;•�f�_
<br /> Borrower shail oocupy,esu►blish.and use the Praperty a�Borrower's principal residence within sixty days efter tho executlon of r��=
<br /> ' .� this Securiry Instrument and shall condnue w accupy the Propercy as Borrower's principal residence for at least nno year aftc�the -°'�
<br /> ' •''�- l date of occupancy, unless Lender othea�vise agrees in writing, which consent shall not be uru�easonably withheld, or uniess ��-
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<br /> �` ��::`;�;;�s, eatenua0iag cucumstanccs exist wiric�t Qre beyond tsorrower=s conu+oi.F�onower snaIl not desuoy,danu�a ur impuir u►6 FiG�uciy. -_
<br /> ' allow the Property to detr,riorate,or commit �vaste on ihe Praperty. Borrower shall be in dcfault if any forfeiwrn s�tia� or `---
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<br />_ '� �.mceeding,whether civil ox criminal,i�begun that in L�s�der's good faith judgment could result in forfeiture of the Proper4Y or
<br /> � -��c� � oihexwise matctially itnpAiT the lien created by this Security Instrument or Lender's secutity interest.Horrower mpy cute�uch a =
<br /> . '�,�';,,; default anfl reinstate,as provided in paragraph 18,by causing 4he action or praceeding to 6e dismissad with n ruling ehn1,in F�
<br /> ' Lendu's gc�o�]falth deuimination,precludes forfeituce of the Bocrower's interest in the Property or othar mater�►1 impaimi�nt oP �
<br />� . , the lien created by this Security Iastrument or Lender's securIty interest Barrower shall also ba in default If Horrowcr,diuinB the =
<br /> . . loan applicatian process,gave materially false or inaccurate informctdon or statcm�nts to I.ender(or failed to pJOV�do Lencle�with -
<br /> � any matadal inforanadon) in co�ecdon with the loan evideaced by !he Note, including� but not limitod ta, rcpresentntions _
<br /> conceming Bosowe,r's occupaacy of the Property ag a principal residence.If this Securlty Instrument is on a leas�hoW,Bc�rrawer
<br />_ . :' shsli comply wIW ell the provisions of t�e kase.If Bocrower acquires fee fltle to the Propercy,the leasehold and tho foo dQt�shall
<br />..; � ..f.,: , net muge unless L�ender agrtes W the merga in wridng.
<br /> _ ,. 7.Protection ot I.ender's Rights in the Property. If aorrower fails to perform the covenants and agrceme¢�is cnntnincd in
<br />_�..•:�• . �.*�. . this Socurity Instrument,or there is a legal proceeding that may sigiificandy affoct Lender's rights in the H�operty (auch as tt
<br /> _� - proceeding in batilauptcy.probate,for cQnde.mnation or forfeiwre or tn enforce laws or regulE»�ona).then Lender may do a�d pay m�
<br />'` r for whatever is neces.5ary W protect the value of tho Property and L.ender's rlghtg in tha Properiy.Lender's acdons m�y inc�ude
<br />_ ... ' gaying any sums secured by a lien which hass priority over this Security Inswment, appcaring in wurt, pt�yin� re$sannblo
<br /> --- �� � auorneys' fees and entering on the Property to make repairs.Although Lender may take acdon under this pamgrnph 7.L.cnder =
<br />- -° - does not have to do so.
<br /> `-_,�� Any amounts disbursed by Lender under this paragraph 7 shall become udditIonal debt of Boirower sccured by dds Sacurity -_
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<br /> Instrument Unless IIorrower and Lender agree to other terms of paymcnt, thesa amounts sh�ll bear interest from d�e date of �'-__
<br />_,-- , disb�usement at the Note rate avd shall be payable,with interest,upon notice from Lendcr to Har�ower requesting payme�t. -
<br /> � • , 8.Mortgage Iusuranca If Lender required mortgage insurance as a conclition of making the la�n secured by this Secnrity �:-
<br />� Instiument, Borrower shall pay the premiums requiTEd to maintain tha mortguge insutance in effect IF, for any reasan, the �':�—
<br /> • , mactgege insurance coveiage required by Lender lapsrs or ec�ses to be in effect,Borrower shnll pay the prcmiums rGqui��,d to E'�- _
<br /> abtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substandally equivalw�i eo the =_
<br /> " cost W Barower of the mortgage ins�ranca previousiy in cffcct, from an ulternate mortgagc insurcr epprovcd by I.cndcr. If -_ -
<br /> substantially equivalent mortgage insurance coverage is not available,Borrower shtill pay to Lender each mondi a sum equat to , ;'r��
<br /> � one-twelfth of the yeariy mongage insurance premivm being paid by Borrower when tho insurance coverage lapsed or ceased to .'�
<br /> be i��effect Lender wiU accept, use and ntain tRese payments as a loss reserve in lieu of mortgage insurance. Loss rescrve
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