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<br /> S. H�zard or i'roperty Imurnnce. Borrowcr shall keep the improvomcnts naw cxisting a reat r n ho __
<br />� Property insured against loss by ilre, hazards included within the term "exundcd coverage" and uny ather hazarde, Including w:,.
<br /> i�oods or flooding, for which L.ender requires insur�nce. T tiia insurance s h al l b e m a i n t n i n e d i n t h e a m o u n t e a n d i o r t h e�xric�ds
<br /> that Lender requlres. T'hc insw�nce carcicr pruvlding the inautancc sh�ll bc choscn by Borrower subJcct to Lcnder's approval
<br /> � which shall not be unrcasonably withhcld. !f Bc►rrowcr falla to mafntaln covcrage dcscribed atwva, l.ender n�ay. at I..endcr'e
<br /> �� option,obtaln coverage to protGCt l.ender's righte In the PcoQerty in accotdance with paragreph 7.
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<br /> AQ inaurance policles and rcnewnls ehall be �+cceptable to Lender and ahaU include a standard martgoge clause. l.ender __.
<br /> shall have the ri�ht to hold the policies end renewals.If l.endcr requires,Borrowcr shall promptly give to Lender all receipts ot
<br /> ' pxtd premiuma and renawal noticee. In the event of loss, Borrower ehall givo prompt natice to the inaurance carrier and Lender. .,u'�a
<br /> ���, Lender may make proof of loss if nat msde promptly by Borrowcr. �-��•-
<br /> Unless Lender and Bortower otherwise agree in writing.insurnnce procecds sha1�bs applied to restoradon or rrpalr of the `,.:°�=•.
<br /> �'""'�� Property damaged,if the restorution or repalr is economlcally feasible and Lender's secudty ia not lessened.lf the reatorattan or �=���_
<br /> repair is not economically feasible or Lender's secudry would be lessened,the insurance pmceeds shall be applied ro che sum� ��-_�
<br /> .. secured by thLa Security inRtrument, whether or not then due, with any exccss paid ro E3orrower. If Borrower abandons the �----
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<br /> Property, or does not answer wi�hin 30 days a notia from l.ender thnt thc insurance carrl�r has offered to settle a claim, chen �--
<br /> L.ender may collect the insurana prceeeds. l,endcr may use the proceeds to repair or reston tho Property or to pay sunu �
<br /> socured by thia Securlty[nstrument.wh�ther or not then due.'Ihe 30-day pedod will begin whon the notice is glvcn.
<br /> � Uuless Lender and Borrower otherwise agree in writing, any applicatian of proceeds to principal ahall nat extand or �v
<br /> � pastponc the due datc of tho moathly payments referred to in paragraphs l and 2 or changc the amount of the payments. If �R�-
<br /> .�, under pazagraph 21 th�Property is acquind by Lender. Bonower's dght to any insurana policles and proceeds resulting from
<br />_ damage to thn Property prior to the acquisitiaa shall pass to Leader to the eatent of the sums secured by thia Securiry Inseniment _
<br /> .,' , immedlatcly prior ro thc acquisidon.
<br /> ., � " 6.Occupancy�Preservatlan,Mnintenance and Protection ot the Plroperty;Borrowtr's Loan AppllcaUon;I.wseholdc.
<br />-1.� Borrower ahall occupy,establish,and use the Property as Bonower's princiQal�sidence within sixty days after the execution of ---
<br /> � this Seeurlry Insuument an�shall continue to occupy the Property as Borrower's principal resldence for at least one year after
<br /> >,r' the date of occupaacy,unless Lender othenvise agrees in writing,which consent shall not be unrcasonably withheld, or unless
<br />-�� :�;"��,;,��� extenuating ciccumstances exist which an beyond E3orrower's control. Bonower shall not destroy. demage or impalr the
<br /> • `'�� Property, allow the Property to detedorate, or commit waste on the Property. Borrower shall be in default if aay forfeiture
<br /> action or proceeding, whether civit or criminal, is begun that In Lender's good faith judgment wuld result in forfeiture of the
<br />� Proper►y or othenvise matedelly imn�ir the lien created by this Sccutlty Insnvment or Lender's aecurity interest. Botmwcr mty
<br /> cuce such a default and ceinatate,as provided in paragraph 18,b�ca«sin�the actian or proceeding to be dismiesed w.tte a ivlin8
<br /> ___ - tLnt, ia Lendei's gocsci faish t3zxrmin:stfon, preclndrs f4rf�ih�*t �,f rhe Aorrower's inteiest in tho ProP�rtS+ or other tn�te�lal
<br /> ` �"`"�,� impairment of the lien creatai by this Socurity Instnunent or I�ender's atcudry iatenst. Borrower shall also be in default if
<br /> � Borrower,during the loan application process,gave materially false or inaccurate information or statemeats to Lender(or failed
<br /> -- ;.�� to provide Lender with any matedal iaforn�ation)nn connxtion with tha loua evidenced by the Note,including,but not limited
<br />_ •� � to,representationa coaceming Bamower's occups�ncy of the Property as a principal resideace.If this Securiry Instntmens is on a
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<br />�•_., . ',?-_�,�� leaaehold, Borrower shall comply wish �11 the pmvlslons of t�e lease.!f Borrower acquires fee title to the Proparty. the
<br /> °'•--�•• '�`-••� 7easehold Qnd the fee tide shall not mcrfie onless Lender agrets to the merger in wrlting. __
<br /> �"`� ''.:•��•���;r 7,Protectlon ot I.ender's Righta in the Property.If Bonower fai!s to perform the wvenantR nnd agroezaents contai�w�i iu
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<br />'- . ,,�n;; this Securiry Ittstrument, or there is a legal pmceating that may signifirantly affect I.ender's rlghts in the Property(auch a+a
<br />��:<�.� � �� procading in bankcuptcy, probatB. for wademnatlon or forfeiture or to enforce laws or regulations), then Lender may do and
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<br /> : ,�-.. .��:-�•.'. pay for whatever is nesessary to pmtect the value of the Property And Leader's rights In the Pcoperty. Leadar's acuona uuy
<br />_'. .'' . .,',.,_.' p iY tY In court, PaY�B
<br />='._,'���e,� include paying any swns secured by a lten which has rlori over this Securl Instrument, appeariag
<br /> ti4-. + reasonable attomeys' fees aad entering on the Property to makc npairs. Although Leader may cake action under thie paragt�ph
<br />���_ , 7,Leader das aot bave to do so.
<br />_;_""�;:-''.�i��� Any amounts disbur�a! by Leador under this pazagnph 7 sha11 becc,me additioaal debt of Borrower secured by tbis
<br /> �_��... .. Security Insuvment. Unleu Borrower and Lender agra to other terms at payment. these atnounts shall bear tnterest from tbe �_.
<br /> - date o�dlsburaement at t6e Notc ratc and shall be payablc, with interest, upon notice. from Leader to Bonower requesting
<br />�".�-........� payment.
<br /> �x`� '" ' ' 8.Mortgage Insuronce. If L.ender requi�ed mortgage insurance as a condition of making the loan secured by this Security
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<br /> � ''" �`� � Instcument. Bomower shall pay the premiums required to maintain the mortgage insurance In effect. If, for any reason. e
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<br /> �^^^ mortgage insuru�ce coverage nquired by Lender lapses or ceases to be in effect, Borrower shatl pay the premiums nquired ro
<br />��y ro-%����� obtain covera e substantiall equivalent to the mortgage insurance pnviously in effect,at a cost substantially equivalent to the -
<br /> V�, �.rv� g Y 8 B P Y g g roved b L,ender.If
<br /> - `,•^o.-�- � wst to Borrower of the mort a e insurance reviousl in effec[, frocn an alternate mort a e insurer app Y
<br />- �` ' substantially equivalent mortgage insurance coverage is not available,Borr�wer shall pay to Lender each month a sum equal to _
<br /> : � ' one•tweifth of the yeazly mortgage insurance premium being paid by Borrower when tt�e uuurana coverage lapsed or cea.ud ro _
<br /> - � .� be fn effect.Lender will a�cc,�pt,use and retain these payment�as a loss rcserve in iieu of mortgage insurance. Loss reserve _
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