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<br /> S. Hazard or Froperty Xnsurance. 8onower shall keep tl�e improvements now existiag or hena�ter erected on t�e
<br /> P'rope�y insured against loss by flre, b�ards included witMn tha ter� "racceaded covarage" aud auy othor hazards, including
<br /> £loods or flooding, for wl�ich Lendsr requires insuranee. This insuxance shsll be maintained in the a�adounts sad for the geriods
<br /> thaz L,ender requires. The insurance c�rricr providing the insurance s�al� be chosen by Borrower subject io Lender's approval
<br /> . wb,ic� slxall not be unreasonably withheld. If Borrowor fails to maintai�a coverage deacribed above, L,ender �ay, at Lender's
<br /> oprion, obcsitt eoverage to protect Lender's rigltts 3n tt�e Properry in accordance vaiih paragraph 7.
<br /> .411 insurance policias and reuewals shatl be aeeeQtable to Lender aad shall inelude a standard moxtgage clause. I.ender
<br /> shall have tho tl.ghc to hold the policies and renewals. Z�Y�nder requires, Borrower shal�pmmptly give to I.ender all receipts of
<br /> paid premitu't�aad renewal natices. In the event of loss, �orrowes ahall give promp[�lotic�to the insnrance carrier and Lender.
<br /> L,cnder may malce proof of loss if not made promptly by Borrovver.
<br /> Unless Lendtr�d�o�xower othervvise agree in writitlg, iasuraacx groceeda shall be�+�ied ta restoration or repair of the
<br /> pruperty damaged, if the restoratio�a ax repeir fa economicatly feasible�d I.�oder's axurity is not leaaened, If the restoration or
<br /> re�ai,x is not economically feasiblo or Lender's security would br le6sened. the i�surance proceeds.ahatl bc applied w tl�e sums
<br /> aecured by this Securlry Insmunent, whether or not tl�aa due, with any excasa paid to Borrower. If Borrower abandons the
<br /> Property, or does nac anawer within 30 days a notiCa from Lender that the insarazice c�arrle�b�as offered to settle a elaim, then
<br /> Lender may coAec:t thc insureaco proceeds. L�esnder may use �he proc.eeds to repatr or restore tlae Properry or to gay sums
<br /> secured by thia Securiry I�,strument,whether or not then due.Tha 30-day period will begin when the uutico is givan.
<br /> Unless Lo�det a�td �orrower othervvise agrce in wrid1�, any� applicadon of proceeds to prit�ci�al shall not extend or
<br /> postpone the due date of the mo�tl�y payments referred to in paragraphs 1 s�td 2 or change the amount of the paymcmts. Yf
<br /> uudex paragraph 21 the Property is acquued by L�ttd4r, �orrower's right to auy insurance policies aad groceeds resultfng from
<br /> damage to�he Prope�.y priar to the acquisition ahall pass to L�der ta the eztent of the sums secur�cl by tk►is Secnriry Inemiment
<br /> immediately prior to the acquisicio�.
<br /> 6. Occupancy, preservation,MaintenRnce and Pi'ate�Ctfon o[the Proparty;Borrower's Y,oan Appllcation; Leaseholds.
<br /> Eorrower shall occupy, est�blish, aiut use the Properiy a�Borroaer's ptincipst residancx vv�thin sixty days�tter�he�ccution of
<br /> this Security Instrument a�td sha11 �aue w oe�cupy the Proporty as �axicower's pr3nelpal residence for at IeasC oae yenr af�er
<br /> tho dau of occupaucy, unlass I.e�ader otherwise a�reea in writing, which c��asa�t shall not be unreasonably withhald, or un�ess
<br /> extenuating circumstanc�s exist which are beyoad Borroaer's wntrol. Bozxow�z shall not destroy, damage or impair th�
<br /> Property, allow the PrOptrty to deteriorate, or commit wasta on the Propexty. Barrower shall be ia default if any forfeiture
<br /> action or proceeding, whether civi,I ox criminal, is beguu that iu Lender's good faith judgment could result in forfeiture of the
<br /> Proparty or othera�ise materIally imptit tlle liem created by this Socurlty Instrument dr Ltnd�r's security interost. Borrower may
<br /> cure such a default a�d minstate, as provided in par�gra�h �8, by causing the action or pmczeding to be di,sz�sed with a ruling
<br /> that, in Landaz's good feich deurmina�ion, preclndes forfeiture o�tb�e Boaoaver's interest in tha Praperly ar other material
<br /> impairmemt of the lien created by t$is Security Instrument or Lender's seCU�tity �o,terest. Borrawer shall alao be in defnult if
<br /> �orrower, during the loan application process,gave materlall�►falsa or inacauate inform�tfon ox siatea�arta to LGader(or failed
<br /> to provxda Lender with eny material informat�ion)in co�eCtion with the loaa evidencxd by the Note, incIudi�, but not lim�ted
<br /> to� representatio�s cor�rning�orrower's ocaupanay of tho Propezt�r as a priacipal residence. If this Security Instrument is on n
<br /> leasehold, Batra�uvez skall comply with all the provisions of the lease� �f Hbxrower acquires fee tit�e to the Property, the
<br /> leasehold and the fe4 ritle sha��aot merge unless Lender a,�rees to the marger in writing.
<br /> 7,protection of Lender'�R�lghrs fn the Property. If Bortvwer fAi�s to pCrf'orm the covenants and agreements contained in
<br /> tbas Securiry Instrummt, or there is a legal procceding that may signi�CaaLty �#fact �.endes's rights in the Property (such as a
<br /> proceediug in bankruptey, probate, for eondemnasion or forfeiture or to enferce laws,or regulacio�s), then Lender may do and
<br /> pay for whate'ver is necesstu'y to �mteCt tklc value of the Property and Lemdar's rights iu tho �ropecty. Lcader's actions may
<br /> iaclude paying any auma secured by a lien which b�s pziority over this Sacurity Inetrament, �ppeating i� cpurc, paying
<br /> reasonable attorneys' fees aad enteriag on the Properly to m�ke repairs. Alrhough Leader mey take action under this parAgrapb.
<br /> 7, Lender daea aat have co do so.
<br /> Aay am.ounts disbursed by Lender under this para,graph 7 shall becota� additiaaat debt of Borrower secured by this
<br /> Securit�+ i�squment, UuJess Bo�ttower aad Y.ender agree to other terms of payment, these amowus shall beaz interest ftom the
<br /> date of disburseuaeAt nt the Noca rate and shall be payabie, wfth interesc, upon notice from �esider to Borrower requescing
<br /> payment.
<br /> 8, Mortga�e Inaarance. If Lender reqaired moztgage insurance as a condition of mal�in�tUa loan aecured.by this S�curiry
<br /> Instrument, Borrower shall pay the premiums requirad to �taiu�tain the mortgage insurance in effect. If, for any reason, tb�
<br /> mortgage inaurauce coverage required by Lender lapaes or c�ases to be ia effect, �omower shall pay the premiums required to
<br /> obtain coverage aubstantially equivale,nt ta the mortgage insivance prev�ously in eff�ct, at a cost snbstantially equivalent to the
<br /> co9i to �oxxower of the motcgag� iasureace previously in effect, from an altemate morcgag� it�sures' aQproved by Lender. If
<br /> substantially eqai�valenc mort�age insurance cove�age is not available, Borrower shall pay to Lender each monch a sum equal co
<br /> one-twelfth of the yvarly mortgage insurauca premiuia beittg p�id by�orrower whcn the insurance covernge 1�pseed or ce�sad to
<br /> be in effect. Lender will accept, uee and retaia thase paymanta aa a loss resexve i� 1�Cu of n�angage insurance. Loss reserve
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