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<br /> S. H�zurd or 1'roperty Insurance. Horrower shall kec:p the improvcmcnts now existin�on c�reuftcr crat on thc
<br /> Praperty in5ured agafnst loss by firc, hs�,ards IncluJt�within the t�rm "extcnticd coverngc" nncf any othcr hazards, including
<br /> floods or flnodfng, for which I.trxlcr reyuires lnsurance. This insurancc shall bc maintuincci in thc amounts unJ for the perials
<br /> that Lc�xler requires.The insurance carrier providing thc insurnnre shull he chosen by Borrower sub;ect ta l.ender's appraval
<br /> whicti shall not t� unreauin;ibly wfthheld. If Borrower fails to maintain cavernga de.ccribod nbave, Lcndct mriy,at l.endor's
<br /> option.oUtaiu cove�ege to�,-otect LeuJe�'s t�ights in thc:P�operty iu acwrduncc with�aragrapl�7.
<br /> All insurynce policics and �enewuls Fhall be acceptable to I.�nder and shall i�xfude a standArd i�wrtgage clAUSe. Lendtr
<br /> shall havc the ri�lit to hold the policies und renewuls. If Ixnder requires,Borrower shall promptly give to L.endGr ull receipGS of
<br /> paid premiums and rencwa! notices.In the event of lass,Borrower shall give prompt notice to the insi�ranc�carrier and Lender.
<br /> Lendcr may mnkc prcwf of loss if n�t made prompUy by Bt�rrower.
<br /> Unlcss C.ei�der arxl Bnxrower otherwise agrce in writing, insurar�ce proceods shall be applial to restoration or repair of the
<br /> Pruperty da�i�ged, if Ibe r�.storation or repair is economically�easible onci l.,cnder's security is not lessened. If the restaratian ar
<br /> repair is not 000nomJcnlly fensible or l.endtr's�xurity would be less�ned, the insurance proceods shaU be appliai ro the stuns
<br /> securod by this Sa.�urity lnstcument, whether or not then due. with any excess paid to Borrower. If Borrower abandons th�c
<br /> Propeny, or dces n��t anstver within 30 days a notice from Lender that the insurance camer has offer�d to settle a claim, thm
<br /> l.end�r may callcct tlie insuranca proceeds. I.ender may use the procee:ds to �air or restore the Property ar, to pay sums
<br /> securod by this Security lnstn�mcnt,whether or not then due.The 30-day period will begin when ttie notic� is given.
<br /> Unless I..tnder and Burm�ver ott�erwise agree in w�itin$,urty application of procecds to principal shall not extend or
<br /> postpone d�c duc date of lhe monthly paymcnts refcrrod to in paragraphs 1 and 2 or change the amount of th� paymertts. If
<br /> under paragraph 21 the Property is ucquircd by Lender.BorrowePs right so any insurance policies and pror.ads rosulting from
<br /> dan�age to�he Pcoperty prior to the acquisitiun shaU pa,s to l.ender to the e��tent of the sums secured by this Security Instrument
<br /> immediately pcior to�t►e acc�uisition.
<br />, 6. OccupWncy, I'raservAUoa,Maintename s�nd Protection of tht Property;Fdiix�rawer's La�n Applic�Nan;I.easd�oids.
<br /> �3onower shall occupy.estublish,and use ihe Propeny as Borrower's principal residence within sixty days aRer the executian of
<br /> this Security Jnstrumcnt and shall condnue to accupy the Property as Borrower's principal residence for at least one year after
<br /> the date of occupancy, unless'..�ndcr otherwise agrees in writing, which consent shail not be unre�sonably withheld, or unless
<br /> extenua�ing circumstances exist which �re beyond Borrower's control. Horrower shall not destroy, dxmage or impAir the
<br /> Property, ellow thc Propctty to detcriarate, or commit waste un the Prdperty. Borrower shall be in default if any forfeitu�e
<br /> aclion or proceoding.wtiethor civil or criminal, is begun that in L.ender's good fuith judgment could nsult in forfeiturt of the
<br /> Property or otl�enviso materially impair the lien croatod by this Securiry Instn�ment or Lender's security intetat. Borrowar m�y
<br /> curc such a default and ranstate,as provided in paragraph 18, by c�usIng the action or proaoding to be disrnissod with a ruling
<br /> that, in Lender's good faith detcrmination, precludes forfeiture of the Borrowar's interest in the Property or other rrmterial
<br /> impaitment of the lien cernted by this Security Instcument or Lender's security interest. Borrower stWl also be in ckfault if
<br /> Borrower.during the loan application process,gave materially falso or Inaccurate infom�ation or strements to Ler,der(or faikd
<br /> to provide Lender with any materi�l informx.i7n)in connection x�ith the loan evidencod by ttie Note,including,but not limital .
<br /> to.nprcsentaiions wncerning Sorrower's ocG�pancy o�the Property as a principal iresidence.If this Security Instrument is on a.
<br /> le�fiold. B�rro:rer sh�ll ramgly �:ith �!t'the pm:�i�loas af the le�.e. if LoRo+��e► ecq�i� fee tide to th;, :'rc�:.�y. tl�
<br /> le�set�old and the fex title shall not merge unless L.cnder agre� to the merger in wriv�r�g.
<br /> 7:Protection o[I.ender's�iiRhts in lhe Property.If Borrower fails to perform the covenants ond agrc;ements contained ia
<br /> this Sesurity LutnLncnt,or there is a lcgal proceeding that may significantly affect Lender's rights in the Property(such as a
<br /> pn�oeecling in bankruptcy,probute, for condemnation or fodeiture or tn enforce 3aws or regWation5), then I.encLer may do and
<br /> ps�y for wlwtever is nxasary to protect the v�lue of the Property and Lender's rigl�ts in the Property.L.en�kr'�actions may
<br /> include pnqing u►y sume securod by a lim which has priority over this Stcurity instrument. appeering in �aurt. paying
<br /> reasona�blc�ttornoys'fc�cs and antering on thc Propc�ty to make repairs.Although Lemler mey teke aciion under this paragraph
<br /> 7.Lender does rat have ta do�so.
<br />- Any unounts disbursod by Lender under this paragraph 7 shall buome addidonal debt of$orrower secura! by this
<br /> Socurity Instrument. Uniess Borrower and Lendcr agcee to other terms of payment, these anwunts shall bear i�te.rest from the
<br /> " date of disbutsement at the Nute ratc and shell be payable, with intcrest. upon notia from I.�nder to Borrrower roquesting
<br />- psyme�►t.
<br /> 8.Matgage Irourmce.If Lender rtiquind mortgage insurance xs a cond:tion nf making the foar�securod by this Socurlty
<br /> Inutument,Bortower sh�ll pay the prcmiums requirod to mainwin the mortgage insurance in effxt. If, for any reason. the
<br /> ; mortgaEe insura►We coverag�required by Lender lapses or ttases to be in effxt,Borrower shall pay th�premiums required to
<br /> oMain wverage substantially oquivulcnt to thc mortgage insurunoe previously in effect,at a cost substantiully eyuuv�lent to the
<br /> • cost to Borrower af thc mortgage insura.� �rcviously in effect, from an alternate mortgage insurer approved by I.ender. If
<br /> substxntially r.quivalent murtgage insurar:ce,coverage is not available,Bonower shall pay to Lendereach month a sum equal to
<br /> one-twelfth of the yearly mortgage insurar�cr prcmium being paid by Borrowcr when the insurance wverage lapsa�or ceasod to
<br /> . bc in effect.I..ender wili accept,use nnd retai��these paymerns as a loss reserve in lieu uf mortgage insuran�,. Loss rescrve
<br /> � t�orm 90Z8 9180
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