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<br /> i 5.NavArd or Property InAUrance. Borrowcr shnll kcep thc irr�provcmcntv naw existing on c�rcattcr crcctcd on thc Property
<br /> ! insured Againat loss by Circ,har.ards includcd within thc u;rm "catcndcd covcrago" and any othcn c�v.ard.c,including floads or
<br /> � Iloading,far which Lcndcr rcquires insurancc.'I'his insursuicc shall tw m�inu►incd in thc umaunts and for thc pcdals�hat L.cndcr
<br /> l requlres.Tha insurancc cnc�lcr Pro�id�n8 tha insurancc shall bc choscn by Hureowcr subjcc:t w Lendcr's approvnl�vhich shn11 not
<br /> ) bc unrea�onably withhcld. If Horrowcr fails co maintain covcragc described nbovc, Lcndcr may, at Lcndcr's opdon, obtnin
<br /> �� covcrage to protcct Lcndcr's dghts in thc Property in accordancc wlth puraBmph 7•
<br /> pll Insurance policies and renawals shall be acceptable to Lender ond shuU Include a standard m�rtgage clause.Lender shail
<br /> havc the dght to hold the policies and renewAls.If Lcndcr requiras,Borrower shnll pmmptly give w Lcndcr all rccelpts of paid
<br /> premi�ims and ronewal nodces.In the event of loss,Bormwer sheU give prompt ttqtice co the insurance carrter a�►d L.ender.l..ender
<br /> may make proof of loss if not mado prompdy by Borrowcr. shall ba�pUed co reswcation or repair of the
<br /> Unless Lendcr end Borrowcr atharwisc agree in writin8, �nsur'ance 1x°�s
<br /> property damaged,if the restoradon or rcpuir is ec4nomicaUy feasible and Lcndcr's sccurity is not lessened if the restoration or
<br /> � • repair is not exonomically feasibla or L.ender's securlty would be lessened, tha insnrance Procc:eds shaA b�aPpuad�°the sums _
<br /> secured by this Seciuiry Insuument, whether or not then due,with any excess paid to Bo�rower. If Barrower abandons the
<br /> � Property,or daes not answer within 30 days a notice from I.ender that ihe insurance carrier has offere,cl �y��•��
<br /> L.c n d c r m a y c o ll e c t t h e Insurnnce proceeds.Lender may use the procxds to repair or restore the Property
<br /> by this Securlry Instrument,whether or not then due.'llie 30-day perlod will bc8in w hen i he norice i�giv e n.
<br /> ' Unless I,endcr and Borrower otherwise agrc,o ir►wridnB��9�PP�ti�°f p���1O p�°ipal shaU not extend or postpone �;�'.'
<br /> agr�o
<br /> thc due date of the monthly payments referced to in paragrephs 1 and 2 or change the amount of the payments.If under paragiraph
<br /> 21 the Property is acquired by Lender� Borrav�rs's dght to any insw�an sums secured b th�Ls Sgecurlry I sftrument�immeedlatcly � ._
<br /> ' P roperty prior t o t h e a c q u i s i ti o n s h a l l p a s s t o L.e n d e r t o i h e e a u n t o f t h Y
<br /> �y��,
<br /> , prior to the acquisid�n. �
<br /> 6.Qccupancy,Preservalloa,MaintenAnce nnd Protectioa of the Property; Borrower's Loan AppUcation;LeASehulds• _
<br /> Borrower shall occupy,esteblish,and use the Property ag Bonower's principal residence wtthit►sixty daYs afte�'the execudon of �
<br /> . this gecurlty Insuument and shall continue to accupy the Propc�ty as Sottower's pdncipal residence for at least one ycar after t1►e —�-
<br /> date of occupancy. unless L.ender othenvlse agrees in writing, which conscnt shall not be unreasonably withheld� or unless
<br /> � �,���+�aring circumstances exist which are beyond Borrower's control.Bortower shall not destro.y,dema8c or impair the Pr°Pert}'� _
<br /> - allow the Prapercy to detsrlorate, or commit waste on �he Properry. borrower shaii ba iti d�fdiilt� 3fiy fIIi�ElSt3TE �I�4n �� —
<br /> „ ; procceding,whether civil or crlminal,is be8un that in Lender's good fai�h judgment could result in forfeiture of the PropertY or _
<br /> otherwlse materjally imPair the lien created by this Security Ins�ument or I..ender's securiry ic►t�erest.Bormv�+cr may cure such a
<br /> . default and relnstate.as providcd in paragraPh 18,by ca�sing the acdon or proceeding to Ue dismissed with a niling t�hat,in
<br /> � , Lender's good faith determinadon.precludes forfeiUUe of the Borrower's interest in tho PmpextY or Qther mat�al�a1��t°f —
<br />_; . .�,�:.'� the lion created by this Security Instrument or I.ender's securiry interest Borrower shall also be in default if Borrower.dur�ng the
<br /> �°��;:. � loan epplicadon proeess.8ave materiellY falsa or inaccurate infoemadon or statements to Lender(or failad to provide Lendcx wlth
<br /> -."`'�"ti,, �' any materiel informaflon) in connecdon with ihe loan evidenced by U�e Note,inciuding,but not'limitod co. roPnsentetl°ns
<br /> ���F-'.�". conceming Borrower's occupancy af the Propaty a4 a principal residence.Yf this Security Instrument ia on a leasehold,Bomowu
<br /> =�;;� �� shall comply with all►he prov�Slons of the lease.If Borrower acquires fa ade w the Property,the leasehold and the fee ddo shall
<br /> .._--= not merge unless Lender agrees tn the merger in wridng.
<br /> -�— 7.Pe+otecHon ot Lender's Rigbts tn the Property. If Bottower fails to perfor�r►the covenants and eSteemeata cantai�►ed i�►
<br /> --�_�•�� � this Securlty Instrumeat,or there is a legai pmceeding that may signi6cantly affect Lende�'s rlghts in the PropeitY
<br /> such as a
<br /> --��'� p��8 in b�nk�ptcy,probace,for con�emnaaon or forfeituce or to enforce laws or regulations),then Lendec may do and pay
<br /> and Lendu's dghts in the PropertY•Lender's acdons may includo
<br /> --- for whatever is nece.ssary to pmuct the value of tlio Pmperty � ��pgY� raasonable
<br /> -- Pal'�8 any sums secumd by a lien which has pr3ority over this Security Instrumuu, aAPear[n8 h 7.L�enda
<br /> _ =�,:'; attomnys' fas aad entering on the Property to make repairs.Although L.eader may teke acd�n under thls para8*aP
<br /> — A ,t' does not have w do so.
<br /> _-— "• pny amounts disbursed by Lender under this paragraph 7 shall become sddidonal debt of Borrower sxured bY this Security
<br /> � Instiument Unless Borrower and I.endec eg�ree to otl►er t�erms of paymcnt,tt►ese amounts shsll bear intenst from the data of
<br />._.-� disbursema►t at the Note rate and ahall ba payable,wlth interes►,upon notke from Lender to Borrower requestln$paYmeuL
<br /> 8.Mortgs�e Ineurqna. If Lendes required mort8a8e insuranc�a�s�°ndidon of malcing tho loan secured bY thls Securlcy
<br /> 1��� Insuumeab Borrowu shall pay tha premtums required to meintein Iha mortgage lr►sw�nce in effecG If. for any reason,the
<br /> .�_�� mortgege insurence covera��reqWral by Lender lapses ox cr�ases to bo in effect,Bo►rower shall pay the premiums roquirod to
<br /> =::J.�-t. obtaIn coverage substandelly equivaleni to the mortgage imsurance pnvlously in effxt, ec a cost substantially tqulvelent w tha
<br /> .�-':,'�� cost to Borrower of the mo►tgage insurance previously in cffect,firom an eltemau mortgago insurer approval by Lec►dcr. If
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<br /> °�"=r�'�� ' substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Leader each month a sum eq to
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<br /> ;-.._�, ..,,f�, one-twelflh of the yesrly mortgage insurance Prerniun►bein8 Paid by Borcowu when the lnsucance covaage lapsod or ceased w
<br /> � ���- �'-!' be in effect Lender will accept, use and retatn these PaYmen�g a� a bss reserve in lieu of mortgage insurence•1.oss resarvo
<br />=_ . . 'r^`"^ Forni 3040 Yroo
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