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<br /> � � 9?- 10�351 � " 4: -
<br /> S. fiattrd or Property Iasur�ace. I3orrower sh�ll keep the impr4<<�ments now oxieting or hareafter erected on
<br /> the Pnoperty insured againet lass by fire,hazerds includod within tha term "ortr�ndod caverago"end eny other har.arda, " .;r .�� : .` ,��;;`
<br /> including floo�s or flooding,for which. Lender requires in�urnnce.Thie inet�rence shAll be maintained in the emounta ,
<br /> �,� and tar the pariods thet L,ender requires.The irusurtinco carri.�r providing tho inFUrence shell bo choson by Iiorrc�wer j ;�;��•�� r-;H�,,,
<br /> subject to Ler�der's approvel which ehall not be unre�son�bly withheld.If Anrrower�aila to maimein coverege described � ,;•��£,;;�,.•„��y�;;k�-
<br /> •-��"'� above� I.ender may,at Len3er'e option,obtain cmvorngo to protect I,endar'p righta in the Pmperty in accordance with �,, e,;.,•,:.,�+•
<br /> " � T8 t'S h 7. y� �
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<br /> All inaurance policies and renewals ehall Ue acceptt�bla to I,andar and sht�U includo a standard mortgage clause. ;� .r`,�rs'�i�. ,_
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<br /> � Lender ehall have tha right to hald the pc+licies end renowalA. If I.andor requires, Bnrcower ehall promptly give to -•.,,.ti;.-�__
<br /> , Lender all receipte of paid premiume and renawal notices.In th�evont of loss,Borrow�r shell give prompt notioe ta the ,�:�„-°===—
<br /> inauranco carrier and Lender.L.endar may make proof of loss if not mado promptly by Bonower. --_
<br /> , iJnless Lendcr and$orrower otherwiso agree in�vriting,insurance pmceeds shall be applied to restoretion or repair ��:__
<br /> of the Property damaged,if tha restoration or repair ia economically fses�ble end Irender e security is not less�ned.If the �:Y;_--
<br /> � restoration or repair is not economically feasible ar I,endar'�securlty wAUld ba lessened,tha insurance proceeds shall be =-
<br /> applied to tha suma secured by this Security Instrument,whother or nat theii Jucs, witb any excess paid to Barrasrer.If =--�•-- -
<br /> � Borrower sbandonn the Property,or does not anewer with(n 30 days a notica trom I.ander that the ineurance carriar hes ___-
<br /> offered to settle n claim, then Lender r,iey c�lle��•tho int �ranco F roc^�s. I.rnder may use the proceeds to repair or ___ -
<br /> restore the Property or to pay sume secured by th is Security instrumunt,,sheth�. nr not then due.The 30'day period will �;:y:�
<br /> begin wl�en the notice is given. f"'"-
<br /> Unl�.s Londer and Bonower otherwise agree in writing,any application ot proccw-js v.�principat shall nat axt.�nd or
<br /> postpone�he due date of the mont[iiy payments referced to in paragraphs 1 and 2 or changa the amount of the paymenta !:`��
<br /> If under paragraph 21 the Property ie acquired by Lender, Aarrowor'e rignt to any insurance policies end proceeds �,�,_.�•°�--
<br /> r�sulti ng fron�damnge to the Property prior to tha acquisition shall paes tu Lender to the extent of the eume secured by �";---
<br /> tlus Security lnstrum�nt immediately prior to the acquisition. ';;�,�-
<br /> 6.Qccup�ncy,Preservation,Maintenmce�ad Protoction of the Property; Borrower's Lo�n Application; � -n_.�-_
<br /> Le�seholda. Borrower shall occupy,establish,and use the Property as Botrower's principal residenco within sixty days
<br /> afur the execution of thia Security Inetrurnent and shall continue to occupy the Property ae Borrower's principal ;�-
<br /> r�sidenca for at least one year aftec the date of occupancy,unless L.endor otherwise egrees in wtiting. which consent shall �':_
<br /> "�'"_`_ - notbc u„rrxa�i�e�iy wiititieid,o�unlesss����:.ingc:rcumstanr.�exist:�hi�hare�,ond Bono�er'scontrol.Lbtrower
<br /> shell not destroy,damage or impair the PropeMy,allow tho Property to deteriorate,or commit waste on the Praperty. .,�
<br /> Sarro�er shall be in dofault if any torfeituro action or proceeding,whether civil or criminal, ie begun that in l.ender's !.
<br /> good faith judgment could result in forteiture of the Property or otherwise materief►y impair the lien created by thie
<br /> Security Instrument ar Lender's security intorest.Borrower mey cure such a default end reinstau, se provided in �
<br /> � paregra�h 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith
<br /> .,.� deterrninntinn,precludea forfeiture oi the Borrower's intereat in tha Property or other matcrial impaircnent of the lien - ___
<br /> - '��� ��` created by thie Socurity Instrument or Lender's security interest.IIocrower ehall also be in default if Bonower,during ---
<br /> • • `�r the loan application process, gave materially talse or inaccurate infarmation or staumente to I.ender(or failed to :-=
<br /> � � provide L.ender with any mnteriel informntion) in connxtion with the loan ovidenced by tha Note,including,but not -
<br /> � limited to,representntiona concerning Borrower's occupancy of the Proporty as a principal residenco. If this Security
<br /> Instrument is on a leasehold,Borrower shall comply with all the provisione of the lease.If Bonawer ecquires fee title to
<br /> ��'���r'�. } the Property,tho leasehold and the[ee title shdl not cnerge unless I.ender egras to the merger in writing.
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<br />�,.,,.�,�,. 7.Protectioa of Leader's Rights in the Property.If Borrower fails to pertorm tho covenants and agreemants
<br />_+,.;,;,,. � contsined in thie Security Instrument.or there ie a legal proceeding that may eisnificently affect I.�nder e rights in the _
<br />- .� Property (ouch ae e proceeding in bankruptcy, probate, for condemnation or forteiture or to enforce laws or -
<br /> -' -•• i•egulatione), than Lender mny do nnd pey for whatever is necessary to protect tho value of the Property nnd Lender's = -
<br />�� �, rights in the Property. Lendor's actione msy includ� paying any sums aecu�ed by e lien which has pnority over this °-
<br />_.. -. Security Instrument,appearing in wurt,paying reesonable attorneys fecs and entering on tha Pcoperty to make repairs. ��
<br />��� •� Although I.ender may take action under this paragraph 7,Lender dcxs not have to do so. f�____
<br /> Any amounta diebursed by Lender under thie paragrsph 7 ehall become additional dabt oi Borrower secured by this '�:
<br />��w••��� Security Inatrument.Unless Borrower and Lender agree to othor terms of payment, these amounts ehall bcar interest �
<br /> - ''`����` from the date ot diebursament at tho Noto rate and ahall be peyable,with intarest, upon notice from Lender to Borrower =
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<br /> "`" requesting payment. --
<br />'"' f a� 8.Mort���e Insur�nce.If I.ender required mortgage insurance as a condition of making the loan secured by this �"`
<br /> . ' Security Instrument,$orrower shall pay the promiums requiracl to maintain tha mortgege ineurance in effxt.If,for any �'_ _
<br /> reason,thn mortgaga insurance coverago requiced by I.endar lapses or ceases to be in effect, Borrower ahall pay the ___. _
<br /> premiume required to obtain coverege substantially equivalent to the mortgege insurance previuusly in etfect,at a cost — —�
<br /> subetsntially equivalent to tha coat to Borrower of the mortgage ineurana previously in effect,from an alternate �'�+���
<br /> - mortgege insur�r approved by Lender. If substantially equivalent mortgag� insurance coverage is not available, '° ��`
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<br /> �. Sorcower ahall pay to Lender each manth a sum equal to ona-twelfth of the yearly mortgage insurance premium being =�Y.,r•'�"�
<br /> paid by Borrnwer when the insurance coverage lapsed or ceflsed to be in effect.Lender will accept, uso snd retein these '���"�'g'�
<br /> . payments as a loss reserva in lieu ot mortgaga snsurance. Loss reserve paymenta may no longer be required, �.
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