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<br /> � �" , 5. Ha�.urd or Property Insurance. Burrower +hull kcep thc impri�venunts now cxisting ��n c�rcaftcr emctcd on thc
<br /> Propertp insurcd abainst I�»s hy firr,haiarJ� includcd within tl�e tcnn "cxtendcd covcruge" und any uther harairds, including �
<br /> Ilocxis or flix�ding, for which Lender requires insurance. This insurance�hull be maintaincd in the umounts and for thc:�xriuJs
<br /> ����'� that I.,ender reyuires. The insuranee carricr providing thc in,urunce sliull he ch��sen by Bo�rower subject t��L.cnder's appn�val
<br /> _� which shall not be unrcasonably withheld. If Horrowcr fails to iti�aintuin coverage dc�cribcd ab��ve. IAndcr may, .►t Lender's
<br /> .. option,obtuin cover.�ge to protect l.ender's ri�zha in thr E'roperty in accordance with puragraph 7.
<br />�� ,. , All insurance pulicies and renewuls shalE be acceptuble to Lender and shall include u stundard mortgabe clause. Lender
<br /> shaU h�ve the right to hold thc policies and renewals,If Lcndcr requires, Burrowcr shull prumptly give to Lender all reccipts of
<br /> • � paid premiums and renewal notices. [n the event of lo�s. Borraw�er shall give prampt nutire to the insurance carrier and Lcnder.
<br /> � � . l.ender may make prcx�f of luss if n��t made promptly by Borrowcr.
<br /> ,��1-• '.�� Unless Lender and Borrower otherwise agree in writing, insurunce proceeds shall be applied to restorati��n or repair of the
<br />__^ � Propeny damaged,if the rcstoration or repair is economically fea+ible and Lc:crler's securiry is not Iessened.If the mstoration or
<br /> �`-"r�.-�` repair is not ecannmicnlly feasible or Lender's security would be lesxened,che iasurance proceeds shnll be applied to the sums
<br /> = �".'�•�� secured by this Security Instrument,whether or not then due. �vith any excess paid to Borrower. [P B��rrower ubandons the
<br />=Y� ..,,;: .; !'rupercy, or does not answer wiQ►i�i 30 days a noticr.fn;7�l.��r.1er that the insnrnnc�cArrier has offered to scctle a cluim, then
<br /> ��•,:�=s [.ender may collect the insurance proceeds. I.ender may usc the proceeds ta repair or restare the Property or to pay sums
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<br /> secured by this Security Instniment, whether or not then due.The 30-day period will Uegin when the notice is biven.
<br />_:,;;.;. ::
<br /> Unless Lender and Horrower othenvise agree in writing, uny application of proceul� to principal shall not extend or
<br /> - .� postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or rhange the amount of the payments.If
<br /> .�i1 under paragraph 21 the Property is acquired by Lender, Borrower's right to nny ins�rance policies and prcxeeds r�sulting from
<br /> :.�� damage to the Property prior to the acquisition shall pass to C.ender ro the extent of the sums secured by this Security Instrurnent
<br /> = immcdiately prior to the acquisition.
<br /> L'�''��� 6.Occupancy,Preservetion, Maintenance and Protection af the Property;Borrower•s I.oan Appliattion;Leaseholds. _
<br />-"�:� Borrower shall occupy.establish,and use the Propeny as Borrower's principal residence within sixry days after the execution of
<br /> ="-� this Security Instrument and shnll continue to occupy the Property as aanower's principal nsidence for at le:ut one year a(ter
<br />=Y —_'�� [he dute��i�xcup�u�cy, vnle�s L�.�id�r aihcr.:•i:x sbr�s in writing, which consent shall not be unreasonably withheld, or unless
<br /> �-`��„fe�`' extenuating circumstances exist which am beyond Bon•ower's control. Borrower shall not destroy, damage or irn�ir tM
<br /> ...:.:;:�,�:',i�1� Property, allaa the Property to deteriora[e, or commit wastc on the Property. Bonower shall be in defnult if any forleinm�;
<br /> .— -- action or pmceeding, whether civil or crimirial,is begun thut in Lender's�oad faich judgment could result in forfeiture vf tha
<br />_,�_�� Property or otherwise materially iinpair the 1 ien crcated by this Security Instrument ar L.ender's security interest. Bonowcr may
<br /> cu�e such a defnult and reinstnte,as provided in pAragraph IS,by causing the action or proceeding to be dismissed with a ruling
<br /> — that, in Lendcr's good faith determination, precludes furfciture of the Bonower's interest in the Property or other n�erial
<br /> = impairment af the lien creuted by this Security Instrument or[.ender's security interest. Borrower shall also be in default if
<br /> -- Borrower,during the loan application process,gave materially false or inaccur�te informution or statements to Lender(or X�iled
<br /> = — to pmvide Lender with any material information) in connation with the loan evidenced by the Note,includin�,but not lirnited
<br /> to, representations concerning Borrower's occupancy of the Property as u principal residence. If this Security Inatrument is on a
<br /> - leasehotd. Borrower shall comply with all the provisions of the lease. If Borrower ucquires fee title ro the Prapeay,the
<br /> lcasci�old and the fce title shall not merge unless l.ender agrees to the mcrger in writing.
<br /> 7.Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in
<br /> this Seeurity Instrument, or there is a Iegnl proceeding that may signifieantly ailect 1.c;nder's rights in the Property (such as a
<br />- proceeding in bankruptcy, prabate.for condemnation or forfeiture or to enforce laws or resulations),then Lender may do and
<br /> __-_--,__� pay for whatever is necessary to protect the valuc of the Property and Lender's ri�hts in the Property. Lender's actions mmay
<br /> --- include paying any sums secured by a lien which has prioriry o�•er this Securiry Instrumcnt, appearing in court, payin�
<br /> — reasonable attarneys' fees and entering on the Property to make mpirs.Although Lender may talce action under this paragraA'h
<br /> -- 7, l.ender dces not have to do so.
<br /> �� Any amounts disbursed by Lender under tliis pamgr-aph 7 shall become additional debt of Borrower secured by this
<br /> �±�.�� Security Instniment. Unless Borrower and Lender agrce to other terms of paymeat,these amounts shall beur interest froni the
<br /> �;_;:� date of disbursement at thc Note rate and shal! be payable, with interes[, upon noticc from I,ender to Borrower requ�rin�
<br /> payment.
<br /> -�°;:�.�p� 8.Mortgage Insurance.lf[.ender required mortgage insursnce as a conditian of making the loan secured by this Security
<br />_ �;;`,�,� Instrument, Borrower shall pay the premiums required to maintain the mortg�e insurance in effect. If, for any reason,the
<br /> --`�:;��", mortgage insurance roverage rcquired by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to
<br />-=�ti=.;�;�;'... obtain coversge substantially equivalent ro the mortgagc insuranee pnr�•iously in effect, at a cost substantially equivalent to the
<br /> -.�:;:£�s��,'��,',� cost to Bonuwcr uf the murtgagc insurence prcviously in effect, frorn an alternatc mortgagc insuier approvcd by Lendcr. If
<br /> '�;�=�'� : substnntially equivalcnt murtgage insurance �rovcragc i� not available. Borcower sh:sll pay to Lendcr cach month a sum equal to
<br />—�-���F`��t"��� on�-twelfth of the yearly mortgage insurance premiwn{xin�peid by Burcower when the insurance coverage lupsed or ceased to
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<br /> -`._;:��t`�, be in effect.l,ender will accept,use arxi retain thcse payments a, a luss reserve in lieu of mortgage insurance. Loss reserve
<br />=��t:i,'�•;:�� Form 3026 9190
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