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201203502
<br />monthly payments which are referred to in paragraph 2, or change the amount of such payments. Anv excess
<br />insurance proceeds over an amount required to pay all outstanding iudcbtuhress under the Note and this
<br />Security Instrument shall be paid to the entity legally entitled thereto,
<br />To theevem of fn_reolncnre of do, S—on,. inetmi».-nt nr other trnn.cfrr of fill, In the Pum ,•Ic that
<br />extinguishes the indebtedness, all right, title and interest of Borrower m and to insurmme policies in force
<br />,ball pas'=_ to the purobiot,_
<br />5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan
<br />nppiieation;Leasehoids.uorrower shalt occupy, establish, and use the Properly as Borrower's principal
<br />residence within sixty days alta the cxcnntiun of [his Security Instrument (or within sixty days of a later sale
<br />or transfer of the Property) and shall continue in occupy the Properly as Borrower's principal maiden,, for
<br />at twat one year atter the date of Occupancy, unless Lender determine, Thal requirement will cause undue
<br />hardship for Borrower, cr unless extenuating circumstances exist which arc beyond Borrower's control.
<br />Burrower sball notify Lender of any extenuating circumstances. Bunuwur shall not commit waste or destroy,
<br />c,-res rb.atIlr`na,c ai-vubhe apcty at allow a¢ rtopc,awLua
<br />— ]ca
<br />excepted. r
<br />Lader may iospcct the Properf if the Properly is vacant or abandoned or the loan is in default_
<br />Lender may take reasnuablc auliun to Ittihad and preserve such vacant or abandoned Property. Bomowel
<br />shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate
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<br />nnuuaion will, 11" loan widcnccd by the Note, including, huh not limited to, representations etmccming
<br />Borrower's occupancy of the Properly as a principal residence. It flus Security instrument is ecu a lasdmld,
<br />Borrower shall comply with the provisions of the lease. if Borrower acquires fee title to the Property, the
<br />leasehold and fee title shall sol be merged unless Lender agrees to the m o,atr in writing_
<br />6. Condemnationa'he proceeds of any award or claim fur damages, direct or consequential. in connection
<br />with any concomnaltnn or other taking of any part of the Properly, or fur conveyanccM place Of
<br />condemnation. are hereby assigned and shall be paid to Lender to the extent of the full amount of the
<br />indebtedness that rmnains unpaid under the Nate and this Security Instrument. Lender shall apply such
<br />provuLds to the radiation of the indebtedness under the Note mud this Security Instrument. first to any
<br />delinquent amounts app]iul is die or provided ill paragraph i, and then to prepayment of principal_ Any
<br />application Of the proceeds In the principal shall not extend or postpone the due date of the monthly
<br />payments, which are referred to in paragraph 2, or change the amnunl of such payments. Any excess
<br />procctal5 uv,r an amount req uircd to pay all oulshumling ralcbicclncas under the Note and this Security
<br />Instrument shall be paid in the too! Hy Icgally ,milled thotem.
<br />7. Chargesto Borrowerand Protectionof Lender eRightsin the Property. Borrower shall pay all
<br />governmental or municipal charges, fines and impnsitiows that are not included in paragraph 2. R,,,..r
<br />shall pay these obligations on time directly to the entity which is owed the payment_ If failure to pay would
<br />adversely affect Lender's interest in the Property, upon Lender's request Burrower shall promptly furnish to
<br />Louder receipts evidencing these payments.
<br />If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any
<br />other covenants and agreements contained in this Security Insbmacfib ur Ihoc is a legal proceeding Ilial may
<br />significantly affect Lender's rights in the Pori (such as a proceeding in bankruptcy, for condemnation nr
<br />to onfumc laws or rcgplmwa,), [hen Leader may do and pay whatever is necessary to protect the value of the
<br />Property and Lender's rights in the Property, including payment of Iaxcs, hazard insurance and other items
<br />mead ioued in psrgyaph 2_
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