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<br /> • �. Hazurd or Prope»y [nsurance. Borrower shall keep the impmvements now existing or hereafter crected on the
<br /> Propeny insumd against loss by fire, ha�ards included within the term "extended coverage" and su►y othcr hazards. including
<br /> tloods or flaod�ng, far which L.ender requires insurance. This insurnnce shall be malntained In the amounts and for the perlods�
<br /> that Lender tequlres. The jndurance carrier pmvidinB the insurance sh�ll be chosen by Borrower subject to Lender's appmval� �
<br /> which shnll not be unreasonably withheld. If Horrower fails ta maintnin coverage descdbed above, l.ender may. at Lender's�
<br /> option.obtuin covernge to protect L.ender's Nghts in the Property in accordance with paragrnph 7.
<br /> :, AU insucnnce policies and renewals shall be acceptable to l.eader and shnll include a standard mortgage clause. Lender�
<br /> : shnit havc the dght to hold the pol�cles and renewets.If Lender requires,Borrawer shall promptly give to Lender all recelpts of� �
<br /> paid prcmiums and rencwal n�aics.In the event of loss,�oaower shull give prompt notice to the insura�ice carrier anJ L.ender.� `%
<br /> �;," Lcnder may make proof of loss if aot ra�de pmmpdy by Borrower. � �
<br /> ��
<br /> • �" Unless Ixnder and Bvrrower otherwise agree 1n wdcinII,insurance proceeda shall be upplied to restoratlon or repair of the �.
<br /> �? Property diunaged,if the restoratlon or npair is economlcally feasible aad Lender's secur�ry is not lessened. If the restoration or
<br /> repair is not ecottomically feasible or Lender's securiry woutd be lessened.the insurance pmoeeds shall be applied to the sums _
<br /> , secured by tbis Securlty Instlumeat,whether or not then dae. with any oxcess patd to Borrower. If Borrower abandons the
<br /> Property,or does not answer withi�n 30 days a nottce frora[.encler tltat the insuraace carrier has offered to setda a cialm. then ��
<br /> � Ixnder may collect the inswana proceeds. Lender may use the pmc�eeds to repair or restore the Property or to pay sums
<br /> � secured by this Serurity Instn�meat,whether or not then due.Tiie 30-day period will begin when the notice Is given.
<br /> �, Ualess Lender and Bomower otherwlse agree in writing, aay application of proo�ds to principal shall not ex[end or
<br /> � postpone the due date of[t►e moncWy paymenu refened to in paragraphs 1 and 2 or cbange the amount of thc paymeats. If
<br /> uader psuagraph 21 the Property is acyuired by I.ender,Borrower's dght to any insw�ance polIcies and pmcceds resWtIng from
<br /> ^ daznage to the Property prior to tde acquiait[on shall pass to I.ender to the extent of tD►e sums secured by this Security Instr�ment
<br /> , � � immediately prIor to the acaluisidoa. =
<br /> 6.Occupancy,Preservatton,lNairtenaace and Pmtectton ot the Pe+operty;Borrower's I.oan Application;Leaseholds.
<br /> Bornower shall occupy.establish,end use the Property as Borrower's principal residence wiWin slxry days after the execution of --
<br /> • � . �j- this Security Instnuaent azcd ahaU continue to occupy the Property as Bornower'a principai residence for at least oae year after -
<br /> , the date of occupancy,unless i.euder othe�wise agrees in wrIting,which consent ahall not be unreasonably withheld.or ualess -_
<br /> extenuating cimumstaaces exist wbic6 are heyond Borrower's oontrol. Borrower shail not desn�oy, damage or impair the -
<br /> Pro�x;rty� allow the Propesty to deterIorate, or commit waste on tha Property. Borrower shall be in default if any forfeiture
<br /> �' actlon or pmceedlag,whether civil or crimtnal. is be�un that in Lender's good faiW judgment coWd result in forfeit�re of the r,
<br />;'�•�._. �� Prnporty or oWerwtse materially impair the lien created by this Security Insaument or I,ender's securiry interest.0ormower may
<br /> • . ;, c�re such a default and reinstate,as pmvided in paragraph 18.by causiag the action or proceeding to be dismissed witu a rulin�
<br /> that, in Lender's good faith determinatfon. precludes forfeiture of the Bomnwer's interest in the Pmperty or other raaterIsl
<br />--'.:,,;��:.,��b"� im�tairment of[he lien cr�t� by tfiis Securiry tnsuument or Lender's security intemst. iiorrower saa!! atso be in defauit iff =
<br /> Borro�ver.during the lQan app�4cetion prooess,gave matedelly false or inaccurate infom�atton or statements to Lender(or failed
<br />�'�4'�' � tm Qpov[de Lender with any ma�ia�information)in oonaecdon with the loan evidenced�y the Note,includ9ng�but not Iimited
<br /> ,. : ,.
<br /> '"�•� ' ti'� � to,i�epresentations concerning I9emsarrer's occupancy of the Property as a principal residence. If this 5ecurlty Ins�u�a�nt is on a
<br /> !�'�-�''''`�"� leasehold, Borrower shall co�.gly' wtth aU the provIsions of the lease. If Borrower acquires fee ade to the Property. the
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<br /> -� ���'�'���; ' leaschold artd the Fee tide shaii not�e untess Leader ag�e.c to the m er ja wtitin �
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<br />,,:,�:;;,:Y.�.,� 7.Protectlun af Lwtder's R1g6ts in tde A�operty.If Bomower fails to perform the oovenants and agc�eements contained in, .
<br />_ .:::�,•.��' this Security Insmuaent,or�4en is a legal proc�ding that may significantly affeci Le�der's dghts in the Proparty(such as a �
<br /> -.:_�.��,�,.:.' proceeding in banluuptcy, p�ulmte. for condemnation or forfeiture or to enforce laws or ngulattons).then Lender may do aad
<br />-��� `•���•� pay for whatever is tecassary to pmtect the value of the Property and I.ender's rIghts in the Propeny. Lender's actions may
<br /> . •-.�..,_t
<br /> = include paying any sums se�ural 6y a lien which has priority over t6is SecurIty Instcument. appearing in sourt� payin�
<br />�=�_.,� -` reasonable attomeys' fees and entering on the Pcoperty to make repairs.Altltough L.ender may take acdon under this paragraph
<br />=�"��'_r`�'� 7.`x.ender daes not have tm do sat.
<br />-'�-���� � Aay amounts disbutsed 4sy L.Eader uader this pare,graph 7 shall become addicio�at debt of Hormwer secure�by this
<br />_°���;�� Securiry Insw�nent. Ualess�nawer and Leader agree w other terms of payment, these amounts shati bear interest from the
<br />����r,x°� , date of disbiusemem at the Note rate and shall be payable, with lnterest. upon aodce from i�cader to Bomower requesting
<br /> - payment.
<br /> a-�•��•��:"' ffi.Mortgage IasuraQee,lff Lender required mortgage insuraace ns a condition of makiag the loan secuned by this Security -
<br /> '�'•�.i��--� Lastrument. Borrower shaU pa��he premiuros required to maintain the mortgage insurance in effect. If, for any reason.the
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<br /> mortgage insutance coverage reyirired by Lender lapses or ceases to be in effect,Borrower shall pay the premiums requimd to
<br /> LL- �==::-s'�"' obtain coverage substantially equivalent to the naortguge inauraace previously in effect,at a cost substantially equivalent to the
<br />�„"`"'"' •. cost to Bornnwer of the mortgage insuraace previously in effect.from an aitemate mortgage insurer approved by Lender. If
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<br />--���.,,:.:,,,. substanualty equivalent mortgage fasurance coverage is nai available,Bortower shall pay to Leader each month a swn equal to
<br /> '''•�K•�"' ,, one�elfth of the yearly mortg�ge insurance premium being paid by Borrower when tde insurance coverage lagsed or ceased to
<br />'''`=M � � . be in effect.Lender will accepi.use and retain these payments as a loss reserve in lieu pf mortgage Insurauce. Loss reserve
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