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<br /> 5. Hazapd ntr Pronert� {nsorance. Hurrotirer shaU keep thc impro�•rmcnt5 non•csis�ng or hrreaftrr erected on � `.;��``
<br /> � ��; thr 1'mperty insured against loss b} firc,hazards inrlEided«ithin thC term °ra-tendc�co�•erage" and an}-othrr hatar�s, �� � —`--�1
<br /> ' � , ' inrluding fluods or flooding,for n hieh I,cndCr reyuirrs insurance. This insuraurr shall bc maintained in thr amaunu C, '"'`' `:'
<br /> ; . � and far thr periods that Lrndrr rc�uires. 'Ihe insurance carriec prociding the insurance shall be chosen by Borroaer f r;::��...`
<br /> - . ,_y subject to Lender's appro�'al ��hich shap not be unrcasonablS•t�ithheld.Jf Borto�er fails to maintain�vvecage described i `��
<br /> .� ---- - abocr. I,ender may�,at I.ender's option obtain coeerage to�rotect LendCr s rights in the Pmpert}� in aCCOfcj3IICC Wttb � _ ___��%;��.,�;,.
<br /> ,' paragraph 7. <.'•.` `
<br /> , :�11 insurance policies and rencwals shal! be acceptable to Lender and shall include a standard mortgagc clause. , ;�r',°
<br /> , I.cnder shall ha�e the right to hold thr polirirs and rrnenals. If Lxnder requires. Borrower shall promptl}' gi�'e to t �,�,:1: .
<br />-- Lender all receipts of paid premiums and cenewal noti�rs.In the e�ent of loss.Borrower shall give prompt notice to the � ;<<:�:_c.`.: .:•"
<br /> '... .`�.:,.;�.:r,
<br /> insurancr camrr and Lender.Lender ma} makc proof of loss if not made pmmpt(S�bj�Borrower. � �:;, :. •
<br /> • t�nless Ixndcr and Borrov�rr othernisc agree in�vriting,insurance proceeds shall be appliecl to restotatiott or repai� ; ;4'x>f�`'
<br /> � •" ' of the Propert}'damaged,if the restoration ar rcpair is rcanomicallS•feasibic and Len3er s security�is not frsscned.Ii thr < <=•'�;�;�`��: '
<br />� , rrsmration nr repair is<<.t econr,micalis•fCasibir or Lrnder's se�-urity �eo�id br l�s�rr:c�i,thr insurancc procc�ds shali be � _ -`;tt ,.
<br /> ;..�.. .;;: ..
<br /> , applird to the sums n�::;ed by this ScY:urit�•In�-��urnrnt,nhCthcr or nos r.h�due,nith any�cxccss paid to Bormwer.If � . ti•
<br /> Rorcot�T abandons the Propert},ur dors not ans��er«ith�a 30 ciay�s a no.ix.`rom E.�d�r that the insurancc carricr has , `=-•<=
<br /> � offered to settle a claim, then Lcnder ma}- c;oltext the insurance proceeds.I.�ndrr rna} usc the procer.ds to rcp-aic or �`.�,jf.;�;'.
<br /> , restore the Propert3'cr to pay sums secuted by'this Securit}•Instrument.�T�ether or t►ot then due.The 3o-da}•�ria3 n ill '' `' ` .
<br /> :,.�,.
<br /> ;�.
<br /> � hCgin c.hen the nouc�:s gi�•en. . ;, �� •�_���
<br /> ' t�nless Lender�_3 Boreoner othern�ise agrcx in«riting,any upplicaiecr.of proeeeds to principal shall not estend or °•• � .
<br />_ 1 . postpone the due date of the monthl}'payments referred to in paragraphs 1�:.d 2 or change the amount of thc pa}•m.ents. -.:�;:_:; _
<br /> `'''� If unde�paragraph 21 the Propert-i is acquired by- Lender. Borrower's right to a�c insurance policies and�pr�s _ •
<br /> '�����,�7..... un:.
<br /> '!' resulting from damage to the Proger.F prior to the acquisition shall pass to Len3er ca�:extent of the sums secured by . :°`�-- �
<br /> ' �� -:
<br /> . ,t'�� ,; this Security Instrument immediasets pnor to the acquisition. '
<br /> ;." . Y+' 6.Occupanc}.1Preservation,�iainte�amre and Protection of the Property:Borrower's II,oan Application; :� •_,
<br /> �-'•.` • '' Leasettolds. Borro�e;sha11 occu establish,and use the Pro erty as Sorron*er s rinci 1 resid�nc:e within sixc'da _ ��;'��''`'�i
<br />- P3. P P Pa 3 SS ,'5�����:f_..
<br /> �� after t��rse�:ution of this Secnrity Instrument and shall cantinue to �xupy the Ptoperty as Borrower's Arineipal '°'. .;F;.`;�;.,;�
<br />- .I���t. � �� rrsider.sx_°or at leazt one year after the date of occupancy,unless Lendec atherwise agrees in writiAg,which eonsent s�all ���"•'�`` `
<br /> .t .r`.��i..:I 4 ,.:
<br /> - �,'` . ,:�, s►ot be�nceasonahl}�ithheld,or unlrss eictenuating circumstances exist�•�ich are beyond Boreower's controt.Bono�er : : = : : -
<br />',y '�� -i shaA not d�stroj,damage or impair the Property,allow the Property t��eteriorate,or cornmit c�a4te on the Propertq. ,:°,`c�`` •" ':-
<br />_� .� Borcowec shatl be i�stefault if any forfeiturr action or proceeding. n�ether rivil or criminal,is b�n that in Lender's '•�'`' :� �.'_}-:�
<br />"'`� '� good fait!��udgment could result in focfeiture of the Property or othes-�6se materiallp impair the lien created bs this . '�``- �' �� "
<br /> ";_;j:� . :,� Secucity finsttument or Lender s securit}• interest. Borra�ver may cure such a de€avlt and reinstate, as provide3 in ��.i,{t�•i'�;:';����
<br /> �. � ' parag,r��:. 1 8, by causing t he a c tion or pro c e e di n g t o bC d i s m i s s e d w i t h a r u f i n g t h a t, i n L e n d e r's g o a d f a i t h �..� : ,'` •:_
<br /> � � �.� �- deterr�ina*ion,precludes forPeiture of the&moa�er's intrrest in the Propertj-or other material impairment of th�2ien : 'f�.,;��.�.-{i,f,?
<br /> �:t creat:d b�tius Security Instrument or Lender's security interest.Borrower shatl also be in default if Borrower,during '' ;t'�;�::�r'>':
<br /> :�',, . _ ...,, .,.: ;:.
<br /> - .•�•� ihe ia�^application pracess, gave materialiy false or inaccurate information or statements to I.ender (or fai}ed to ���,�k'`'a'
<br /> ^`` • ,• prayi��1...°ndet cvith any material information)in connertion with the loan evidenced hy the Note,including,but not , � '��•�'
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<br /> � limit�rl_a, representations concerning Rorrowers occupanc} oY the Yroperty as a principal residence. If this Sa�rity � .. .�•-
<br /> � :`-�� � • . Instrur^�t is on e leasehold,Borco�ser shall wmpl}��vith a:i the pro�•isions of the lease.If Botrower acyuires�t�e tezle to ' : ,'`�.';;�
<br /> ' � the Propetiy,thc leasehold and thc fee titic shall not merge�^'�s 1.Cnder agrr.es to the merger in writing. • •.'*� _
<br /> ;1 ;- 7. Protection of Lender's Rights in the Property.If Borron•er fails to perPorm the covenanu and agrtxments . ,
<br /> • contained in this Security Insttument.or there is a legal proceeding that may significantlp affeet Lender s rights in the . -
<br /> �-=�% . �!s,�;, � � Propercy (such as a proceeding in bankruptcp, probate, for condemnation or forfeiture or to en{orce 1aNS or r`;.��� `'��.�'
<br /> t��' ' regulat:ons),then I,ender may do afld pay for�vhatecer is r.:�essary to protect the:.aIus of the Propertp an3 Lender s j t��,�ff��` �z� �
<br /> ,�� ',. � rights in the Propertp. I.enders ar:ions may include pay-ing any sums secuted by a �ien which has prioritp orer this •` ��'t� •$ --
<br /> {°' � � • 5ecurity Instrument.appearing in court,paying reasonable attorneys f�es and entering on tAe Ptopertp to make repaits. ' � � ���i'��
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<br /> - • a3though Lender may take action under this paragraph 7.Lender does not have ta do so. . ' . .
<br /> �'`�, Any amounts disbursed by I.ender under this paragrap:�7 shall hecome additional debt of Borrower secured by this '� •
<br /> '�`�r�'• � Securi�lnstrument.Unless Borrower and Lender agrer t�c other terms of payment,these amounts shall bea:interest • . ;
<br />',.;•,�,�„•. . ,
<br />:`�`:,,. - ' , from the date of disbursement at thn Note rate and shall be�ayable,rvith interest,upon notice from Lendet to Bo�rawer -. ��� ` ' �
<br /> '= requesting pay ment. • . . -
<br />''��.+ � � 8. �lortgage Iflsurance. Ii Ixnder required mortgage insurance as a condition af making the loan secured by this , �
<br /> ' Securicy Instrument.Borrotiver shall pay the premiums reyuired to maintain the mortgage insurance in effect.lf,for any � �., ,
<br /> � reason, the mortgage insurance coverage reyuired by� Lender lapses ar ceases ta be in effect. Borrower s.h�SE pap the � • .. .
<br /> � :3 , premiums required to obtain cor•erage substantially equi�•alent to the mortgage insurance previously in efSca.-t,a�a cost
<br /> ,t,? � • substan:ially e�uivalent to the ocaat to Borrower of tl:e mortgage insurance previously in e4tect, ftom an a�ternate . „•
<br /> mortgage inaurer approved bs lxnder. lf sJ!�stantially� equivalent martgage insurance GOVE'i'Ea6 is r.�t ati�ai2able, .
<br /> � .. Hnrrotver shaU pay to l.rnder each month a s�rn eyua) ta one-ta�elfth of the yearl}�mortgage insis;a:.;.r preszvum being • � �' .
<br />��_�` . paid�y Horrower wl�en th�inscrance covera$e lapsed or crased to ba in eftect.Lxnder will accept.�se and re:�'sn these ' `
<br /> �:�:; ,•,..• pay���ata as a loss reserve �n �ieu of mortgage insL:a�:r:e. I.os.v resen�e pa}•rttenu may no langer l+e rc�Guired, � �
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