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<br /> � .� ,;' ;�•. 5. Qamrd oc Pt+ngerty Iasmance. �oriouer sha}l keep the impmvements now eais g �r hereafter erected on the _
<br /> � �` � � Property insured against loss by fire. h:uar�ds included�vithin the term "extended c�verage"and any athea hardrds. inctuding
<br /> -" `` Q �. floods or ftuoding.for which Lender requires insurance.This insurancc shall be maintained in[he amounts aad for the periads
<br /> ��; �•; �� that I.e�er requires.The insurance carrier providing the insurance shaU be c6osen by BorroHer subject to Lender s approvat •'; � •
<br /> -� ' . `�- - which st�all not be unrea.wnabiy withh�ld. If Borrower fails to maintain wverage described ai�ove, l.ender may. at Lender s �'
<br /> ° 4,� `� option,obtain coverage to protect Lender's righu in the Property in accordanrx with paragraph 7. `•�'
<br /> �__::-.-�"-' - '
<br /> • - All insurance policies aad r�enewals st�aQ be acceptabte to Lender and sha11 inctude a standard mortgage cfanse. L�euder -
<br /> - shall have the rig6t tfl hofd the policies and renewals.If Lender requires,Borrower shall pro�tly give to[.ender alI receipts of
<br /> ';i .`-,Y", ,.' paid pmmiwns and renewal aotices.[n the event of loss,Borrower shali give prompt notic�to the insrorance«�rier aad Lend�• •
<br /> Ixader may maloe pmof of loss if not made pmmpfly by Borrower.
<br /> . . . -: Untess Lender and Borrower othenvise agre�in writing.insurance pca�eeds shall be applied w restoration or repair of the .}'�-
<br /> � Prc�perty damaged.if the restoration or tepair is economicalty feasibJe and Lender's senuity is not lessened.If the ratozarian or •��:.`
<br /> • repair is nat 000nomicaily feas�le or l.eadsr's security would be tessene�,the insurance praoeeds sl�ail6e applied w the sums ' .;'.
<br /> - � secured by this Seculity Incuument, whether or not thea dae. with any excess paid to Borruwer. If Borrower abaadoas the -. -
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<br /> , :;.,�";�; ProAerty.or daes not answer within 30 days a aatice from Lender that the insnrance carrier has offered to settle a claim,thea ','^i
<br /> ;` ,r_•;: �." Lectder may ooltect the in.w�ance pmceeds. i.ender may use the proceeds to repair or restoie the P�operty or to pay saa�s
<br /> � �;�` :'`,��, secuced by this Sr,carity Instnuaent.whethec or not then due.The 30-day period an716egin whe�the uodoe is given. _.:°�
<br /> = � • � Unless Lender and Bormwer athernrise agnee in wri6ng, any application of procexds w principat sliall nat extatd or '
<br />•'��.'. . .. �:'�' postpone the due date of the cnondtly payments rcferied to in paragrapf�s 1 and 2 or change ihe amount af the paymenu. If `,.
<br /> ��.
<br /> ,' '•< ander paragrapb 21 the Property is acqnired by i.ender.Bor�ower's right[o amr insuranoe policies and piaoeeds resutting frnm .
<br />-�' �•" ':-��4� d�mage m the Pmpeny psior to We acquisition shaU pass w L�ender to the extem of the sums se�sered by this Security Insuutnent --
<br /> � � �4';. ,: ,: immediatety prior to the arquisition.
<br /> . . ,; . . _.;.
<br /> � - 'Y`T` . 6.Qocapancy,Yresesvation,Maintenancx and ProtectEon aS the ProF�t9:8arna�s�t`'s H.oan Applicatton;I.easeholds. .' : `
<br />- •' ;�;'��• Borrower shall occapy.esta6lish.and nse the Property as Borrower's princiQal c�i+dence vrithin sixty days after the executian of
<br /> _ ...:_:,�: this Se�vrity Instrument and shall continae to oocupy the Pcogerty as Borrowec 5�sincipal msidence for at least one year after _
<br /> ;, .""";�,:;�..,:':,;'. the date of oavpancy.unless Le,nder otherwisc agrees in writing.which consent si�all not trecinreasonably withheid.or untess .
<br /> '' �'';g�s�,��' t ' -� extenuating cina�mstanoes e�ist which are 6eyond Borrower's watrol. Borrower slrall aat destroy. damage or impair ti�
<br />,' ,'. �:..,. �- :
<br /> � .:••�,���x�`,.�< Property.altow the Property to dettriorate.or commit v�aste ms¢he Prope.�ty. Borrower shall be in defawlt if any for� ._
<br /> ;� ``;�``�„ � . adion or proceeding.�vhether civil or criminal,is L�that in i.ender's gaod faitb}udgment ooutd result in farfeiture�tEs -
<br /> �� � .��. ' Property or otherwise materially impair t6e lien•cr�2�y this Security Insuument or Lender's security intecrsl.Barmwes iasy
<br /> �:,.,,, cure such.n default and reinstate.as provided in p�ar��^apb 18,bx causing the action or pmoe�`i.ng w be dismissed with a r�� .'�� -
<br /> .:•`�'''.:'y tha� in Lcrzder's good faitb determin�tinn. precqndes forfeituxe c�f�he Borrower's intere�t i.��the Froperty or other a�t►�r:�{:. .
<br /> , ,; .�� �..','.� d
<br /> "•�;:�t�� f `� ' impaimie�2 of the lien created by tf�;s Se�urIty Insuument or I.�r�r's sea�sity irne�cst. Ea�v�wer shall also be in de�c�:'�'i� �' ��s�'
<br /> ,�:�:•.f.�,��,'' � 2 � '
<br /> `�`.°,ti�,:�:•-':.';.�;:���.� '� . Borrower,during the loa�applisatioa process.Save materiatly false or inacwr4iL.information or statemeats to I.ender(or failed �� ..�'.:,.'
<br /> _ • '":���< , . to pravide Lender with u�y material infosmaflon)in oonnection witi�the loan�aiM�.�ced by the Note.including.b�not limital .•.�, ..;_-
<br /> — to,repmsentations conceming Barrower's occicpu�u.y of the E'roperty as o princ�i:reside�ece.If du�Se�urity Lostrument is.m a •
<br /> oc c su e
<br /> "' ;°xr '' leasehold, Borrawer shall oomply vri�all the pmvisions of the lease. If Borro�ver acquires fee tide to the Property. the
<br /> - . `� ��' leasehold and tfte fee title shall not mesge unless I.ender agrees to the merger in writing.
<br />= . � 7"'' �' T.Fentectton of�.endei's RIg6L4 in the Fm�ety.If Borrower faits to perform the covenants and agteements contained in -
<br /> ':�� ` . this Secarity Instn�menb or thete is a legal pmae�iir.g tdat may sigaificantly affect I.ender's rights in the Property(sucb as a :
<br /> ' � .� prooeeding in banlrnrptcy,pmbate.far oondemiram.-�ar forfeiwre or to enforce laws or regulations),thea Lender may do and .;.-.
<br /> , • . pay for raiaatever is necessazy to protect the vatue of the PropeRy and Leader's rights in the Pcope�iy. I.cnder's aarons may � :.;
<br /> - - � � iacIude�u.�4ng aay sums secured by �lien whicb has priority over this Security Insnum�uf. appearing in court. paying
<br /> ° � . aeasonabPe attomeys'f�and entering on the Property to make repairs.Atthougb L.�nder m��c�:�ce action undes this paragraph � �,.iy,'
<br /> .,'. �':' ;: : 7.l.end�does not hac�t�a do so. �1�':
<br /> - Any amnunm di�a�used by l.ender under this paragaph � shaU become additional debt of Borrow� seaired by this •�,4`
<br /> ea
<br />- ' � � Sec,urity lnstmmeat. Un2ess Bosrower and Leader agree to other tem�s of payment.these atrtannts sha11 bear interest from the ��"
<br /> date of dis6ursement at tne Note rate and shall be payabte. arith interes�. upon nodce from Lender to Bomuwer re.questing �°�'
<br />_ ' PaYment•
<br /> — , . 8.Mo�e Insaraaoe.if Leader required�rtgage insurance as a condition of making the toan se�tr�i by this Security , �
<br /> • � Instrnment, Boaower shsll pay the premiom4 requized to maintain the mortgage insa�ance in effe.�. If. �or any r�son, the
<br /> _ � mortgage insutance wverage r�equired by Lender lapses or c.eases to be in effect.Borrower shall pay the premiums required to
<br /> _ . obtaiu wverege snbstantially equivatent to the mortgage insurance previausly in effect.at a cost su6stantially equivatent to the �
<br /> - , � . . . cost to Burtower of the mortgage insurance previously in effect, from an alternate mortgage insurer appmved by Lender,lf .
<br /> - � � substantiully equivalent r�cortgage insuranoe covera8e is not available.Borrower shall pay to l.eader eac6 montb a sum equal to • �
<br /> _ ,- �� onc�twelRh ot the year{y moRgage insurance premi�.�n being paid By Borrower when the insurance covera�e lapsed or ceased to 'h���':•
<br />-- ,;�._�,��:i,<:,,:;� ,� be in eHect.Lender will aocept.use an�i retain these payments as a loss. reserve in lieu of mortgage insurance. Loss reseive -
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