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<br /> S. Hazurd nr Nraperty Insurnlli�'. Borrowcr shnll kccp thc improvcments ni�cxititing 1,1,�1�:rcaRcr crectcd nn thc
<br /> Property insured ugninst loss by firc, huu�rds includcd within thc tcrnt "extendcd covcrs��c" und uny othcr t�mardti, inclu�iing
<br /> floc�ds or flooding, for which Lendcr rcyuires insuranrc. This insurancc shall bc nuiintuincd in thc umounts unA for thc pericxls
<br /> that L,endcr requires. The insurancc carricr providing the insurancc shall bc chosen by Borrower �ubjcct to L.cnder's appruval
<br /> which shull not be unreasonably withhrld. lf Borrower fnils to maintain coverage described nbnvc, Lender nwy, ut I.ender's
<br /> option,obt�iro coverage to pmtect Lender's riglus in the Property in uccordnnre with parugraph 7.
<br /> All insuvance ��licies and renewals shall be ucceptable to i.ender a►x1 shall include a standard morlguge clause. Lertder
<br /> shaU have the righ't tu hzrld the palficies and renewals. [f Lender requires, Bo��rower shall pmmptly give to Lender all receipts of
<br /> paid pcemiums und rene�val naNc:s.9n the event of loss, Borrower shall give prompt notice ro the insurance carrie£cmd Lender.
<br /> Lender•n�ay make�nnof of loss bi not macf.e prumptly by Borrower.
<br /> Unless I.ender r�nd Borrower uihenti�ise�gcee in writing, iosurance prooeeds shali be applied to restoration or repair of the
<br /> , P►•aperty damaged, i�!the►�estaration or repnlr is economically feasible and[.ender's security is not lessened.If the restoration or
<br /> repair is not economically feasible or Lender's security would be lessene+ul,��ht insurance proceeds shall be epplied to the sunis
<br /> secured by this Security Instrument, whether or not then c�ar, with any exces.q paid to Borrower. If Borrower abandons the
<br /> Pro;►ert,y.or does not enswer within 30 duys a nodce from Lender that the insurance currier has offered to s�ttle a claim, then
<br /> i,cric3�r may collect the insurance proceecls. Lender may use the procer.cis to repair or restore t!►e Pro�erty or to pay Sums
<br /> secured by this Security Instrument,whether or not then due.'Che 30-day period will begin when the no�ice is given.
<br /> Unles� Lender and Borrower otherwise agree in writing, any application of proceeds ta princi�al shall not extend or
<br /> pos4�one the duc date of the munthly payments referred to in paragraphs 1 and 2 o.r chnnge the amourn of the �nyments. If
<br /> under paragraph 11 the Property is ucquired by Lender, Bof.r�wer's right to any insur.flnce aoliries and proceeds r�esulting from
<br /> damage to the Property prior to ihe acquisition shall pass to Lcnder to ihe extent of the sums secured by this Security Instrument
<br /> . immediately piior z�7he acquisldon.
<br /> 6.Occup���cy,Preservation,Malntenance and Protection at the E°QOperty; Borrower's Loan A�pllcatian; Leaseholdv.
<br /> Borrawer shali cecupy,establish,and use the Property ns F3orrawer's principa] res9dence within sixty days after the exe�ution of
<br /> this Security Instrux�nent and shall continue t�occupy the Property as Ba�rower's yrincipal residence for at least one year after
<br /> thrr al:�te af occupa��y,unless Lender othende.�ngr�es im writ�ng,whlch cons�nt shall not be unres�sonabiy withhald,or unless
<br /> ex¢enunl�n¢ circum�tanc:s exist whlch are �rynna B�raower's cantrol_ Borsower s?�all not des�roy. uamra�e or impair t6c
<br /> , , Property, alia�w tF�� ProRercy ta deteriorate. or co:nmet waste on the Pr�purty. Aorr�we� shall be in cl�fault if mmy farfeiture
<br /> acti4tn+ar�;oc�eeding„ w�etheR cavil or criminal, is begun r�ai in Lender's goad fai�h j;uiclg,nent could result ie�for,-f�iiure of!he
<br /> , Pn�per¢y or othenvlso materi�9ty impair tttc lien creatcd by thiF Security Instnunent or ii,.ender's scxudty intet�st,Borrower n�ay .
<br /> cu�such a default and reinstate,es provldod in paragraph 18, by cnusing the action or prococding to be dismtssed with a ruliag
<br /> � that, in T..cnder's good falth determination, pru:ludes forfeituro of the Horrower's interest in the Propeny or other material
<br /> � impairnxnt of the l[en ct+eated by this Security instrument or Lti�der's security interest. Borrower shall also ba in default if
<br /> Borrower,during the loan application prncess,gave matedally false or inaccurate inforn�ation or statements to Lender(or failal
<br /> to provide Ixnder wlth any materinl information)in conna:tion with the loan evidenceal by the Note,including,but not limited
<br /> $ to, rcprcsentations conceming Borruwer's occupancy of the Prapeny as a principal rcsidence. If this Security Instrumeni is on a
<br /> leasehold, Borrower shall comply with all the provisians of the lcase. IF Borrvwer acquircs fa title to [hc Propeny, the
<br /> � leaschold ancl thc fa tltle shalf not merge unless L.ender agrccs to the nxrgcr in writing.
<br /> :r 7.Proteetlon ot Lertder'a Rights In the Pt�operty.If Boreawer fails to perfarm the covenants and agraments amtainai in
<br /> this Securlry Insnument. o�r there is a legal proceoding that may significantly affect[.ender's rights in the Property(such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce Iaws or regulattons),then Lender n�ay do and
<br /> pay for whatever is necessary to protect the value of thc Property and Lender's rights in the Property. l.ender's actions rnay
<br /> include p�ying 4ny sums secured by a lien which has priority over this Saurity Inshument, appearing in court. paying
<br /> : rcawnable�ttomeys'fxs arxi entering on the Property to make repairs.Although Lender may t�lce uction under this paragraph
<br /> . 7.L.cnder daes not have to do so.
<br /> ; My anwunts disbnrsed by Lender under this paragraph 7 shall baome additional debt of Borrower secured by this
<br /> Security Instn�ment. Unl�ss Borrowcr and L.ender agree to other tcrms of payment,thlsc amounts shall bear interat from the
<br /> dete of disbursement at the Note rate and sh�l! be payable, with interest, upon notia from Lender to Borrower requesting
<br /> ' paynxnt.
<br /> 8.Mortgage Insunna.If Lender requiral mongage insurance as a condition of making the Ioan secured by this Security
<br /> Instcument, 8ocrower shall pay the premiums requircd to maintain the mortgage insurance in effect. If,for any reason. the
<br /> mortgage insuratae coverage roquired by Lender lapses or ceases to be in effect, Borcower shall pay the premiams required to
<br /> obtain rnverage subttantially equivsilent to the mortgage insurance previously in effxt,nt a cost substantially equivalent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altemate rnortgnge insurer approved by Leniier. If
<br /> ' substantially oquival�nt mortgage insurance coverage is not available.Bottowcr shall pay to Lender cach nwnth a sum equal to
<br /> i one-iwelfth of the ycarly mortguge insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> ' be in effect.Lender will acapt,use and retain these payments as a loss rescrvc in licu of mortgagc insuraz�cc. Lass mserve
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