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<br /> 5. liuxard or Pmperty Insurnncc. Burrowcr shall kcc:p thc improvcmcnts now cxisting on c�rcafter crcctcd ou thc
<br /> Prcqxrty insured nguinst Icns by fire, hn•r.ard� inrluded within the term "extended coveruge" und uny other har.�rds, including
<br /> floods nr tloncling, fi,r which l.cndcr requirc� insurancc. This insm•uncc shall bc maintaincd in thc amounts and far thc periu�is
<br /> that Lr.ndcr requires. Thc intiurancc carricr pro��iding thc insurancc shall bc chosen by Borrowcr subjrct to Lcndcr's npprovul
<br /> whirh shall not bc unrensunnbly withhrld. IP Burrower fails w maintai�y covernge dc:;cribrd abovc, l.cnder m�iy, ut L.cnder's
<br /> opdon.obtain covcrugc to protcct L.cndcr's rights in�hc Pruper►y in acwrdancc with paragraph 7.
<br /> All insurance Ewlicies and renewuls shull be acceptable to L.cnder und shall include a stanJurd mortgage cluuse. Lender
<br /> shall have the right to hold the policics und renewals.'/f L.ender requires, Dorrower sh�ll pramptly give to L.ender nll receipts of
<br /> paid premiums and renewul notices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and L.e�xier.
<br /> Lender may nu�ke proof of loss if not made pramptly by Borrower.
<br /> Unlesg Lender and Borrower othciwise agree in writing.insurance procecds shall be applied ro rastorntion or repair of the
<br /> Prope�ty dumaged,if thc rest,oration or repair is economirully fe.�sible and Lender's security is not lessened. If thr re.storation or
<br /> repair is not economically fensible or l.ender's security would be lesscned,tt�e insurance proceeds shall be npplled to the sums
<br /> secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Bonower abandons the
<br /> Property, or does not answer within 30 days a n�tice from Lender that the insuras�ce carrier has offered to settle u claim,then
<br /> L.enJer may caltect the insurance proceeds. Lcnder rnay use the proceed� to repnir or restore the Praperty or to pay sums
<br /> secured by this Security Instrument,wlTethr.r or nat then due.The 30-day period will begin when the notice is given.
<br /> Uniess L.ender tu�d Borrower otherwise aFrer, in writing, any �pplication of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 wid 2 or change the amount of the payments. if
<br /> under paragraph 21 the Property is acquired by Lender,Rorrower's right to any insurance policies and proceads resulting from
<br /> darnage to the Property prior to the acquisition shall pass to L.cnder ta�the extent of the sums secttred by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6.Oocup�ncy, Preservntion,Mainten�nce und Protection oi tt�e Property; Borrower's I.oan Appl�cation;Leaseholds.
<br /> Bonower s6all occupy,establish,und use the Property us Borrower's principal resi�lence within sixty days after tbe execution of
<br /> this Securlty Instrument and shal!contlnue to occupy the Property as Borrower's principal residence for at least one year aft�r
<br /> the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld. or unless
<br /> e;:ic�uatir�g CiiCUiiiSioACC� tXiSf 1'.'�2i��; �t� fw�Q� gn�n4v�r'� rpntr�l. RcirtnWCt St19�1 not destroy. damage or impair t4�e
<br />, Yropetty. allow the Property to detedorate, or c:wmmit waste on the Property. Hottower shall be in default if eny forfelaure
<br /> , action or proceeding, whether civil or criminal, is l+egun that in I.ender's good fAith judgment could result in forfeiture of the
<br /> Property or utherwise materially impnir the lien created by this Security Instrument or I.ender's security intetest. Sonower may
<br /> ' cure such a default and reinstate,as provlded in paragraph 18,by causing the ectlon or proceoding to be dismissod with s ruling
<br /> ihat, 1n Lender's gaod faith determination, precludes forfeiture af the. Donower's intcrest in the Propecty or other material
<br /> �; ' impaim�ent of the lien creatod by thfs Security Instrument or l.ender's securiry interest. Bortower shall also bo In default if
<br /> Bonower,during the loan application proass,gave mnterially fnlse or inaccurate infannation or swtemtnts to l.ender(or falled
<br /> to provide Lendtr with any mattrial information) in connection with the loan evidencai by the Note,including.but not limited
<br /> e to, represcntations conarning Honower's occupancy of the Property as a principal residence.If this Socurlty Instiument is on a
<br /> . l�asehuld, Barrower shall comply with all the provisions of the lease. If Borrower acqulms fea title to the Property, the
<br /> leasehold and the fee title shall not merge utiless Lender agrees to the mergcr in writing.
<br /> 7.Pt�otection ot I.ender's Rights in the Property.If Bonower fails to perform the covenanu and sgraments containod in
<br /> Y this Security Instn►ment, or there is a legal procceding that may signiCcantly effect L.ender's rights in the E�roperty (such As a
<br /> �. . proccxding in bankruptcy.probate, for conde�m�ation or forFeiture or to enforce laws or regulatlons),then Lender tnay do end
<br /> � pay for whatever is necessary to prata:l the vulue of the Property and Lender's rights in the Aropetty. Lender's actions may
<br /> �� include paying any sums socured by a lian which has priorlty aver this Securiry Instrument, appearing in court, pnying
<br /> � �reasonable attomeys'fas and entering on the Property to make repairs. Alttiough I,ender may take action under this panigehph
<br /> . %,I.ender does not have to do so.
<br /> ". Any amounts disbursed by Lender under this paragrnph 7 shall become additional debt of Borrower socur�d by thie
<br /> Securiry Instrument. Unless&�rrower and L.ender agree to other tcrms of payment,these amounu shall bear interest from thc
<br /> ' date of disbuisement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> . payment.
<br /> 8.Mortgsge Inwrance.If L,ender required n�ortgage insurance as a condition of making the loan secured by this Socurity
<br /> ' Instrument, Horrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> � mortg�e insuranec eoverage roquirod by Lender lepses or ceases to be in effoct, Borrower shall pay the premiums required ro
<br /> ' obtain rv��:rage aubstantially cquivulent to the mortgage insurance�reviously in effect.at u cast substantially equivalent to the
<br /> �cost to$ortower of the mortgage in;ur:�.�r previously in effcc,, from an altemate mortgage insurer approved by Lender. If
<br /> :substanttally equivalenc iTa�octgage insu_�-re�x�.r.�•�:r es not av�ilable,Bonower s.hall pay to Lender each month a sum equal to
<br /> one-twelfth of the yeatiy utoc'tgagL intaa;utce pnsr��.rn being paid by$onower wfien die insurunce coverage lapse�d or ccau�d to
<br /> ' be in eff4'ct,I..ender wifi accept,us¢ar�!3��szin these payments as a loss reserve in lieu nf mortgflge insutance. Loss rexerve
<br /> • Form 3028 9180
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