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<br /> � S. H�urd or Property Insurwce.Bonowcr ehall kcep thc impruveui�ut�now cxistiug on c�rcaftcr crcctcd on►hc ;
<br /> Property insured against loss by fuc,ha�ard.5 included within thc term"cxtcnd�d covcragc" and any othcr haxards,includfng F
<br /> �,,;.,,,.�: floods or flooding, for which Lenderrequiresinsurancc.Tbis tnsuranceshall be mainta3ncdia the amouatsaad for thc periods
<br /> .. , . that l.ender requlres.The iastuance car:ier praviding tbe insurance shaU be chosen by Borrower subject to Lender's Approval _
<br /> wbich s6all not be uarcasonably withheld.If Bonower fails to maintain coverage described above, Lcader may, at Lendcr's
<br /> option,obtain wverage to protect Lcader's rights ia the Property in accordauce with paragraph 7. __
<br /> A11 insurance po&cies and renewala ahall be acceptable to Lender and shall inelude a staads►rd mortgpge clause. L.ender -,
<br /> shall have the right to holdthepaliaes andrenewals. If Lenderrequires,BonowershaD promptlygive to l.enderall receiptsof �,'
<br /> paid premiumsand renewal aotices.ln tbe eveat of loss,Bonowershall give prampt nodce to the lnsurancc carrier and Leader. �_
<br /> I.ender may make proof of loss if not aiade promptly by Bonower. —
<br /> Unless Lender and Borrower ot�erwise agree in writing, insurance praceedsshall be appUed to restorationor repair of the �:
<br /> Property damaged,if the restoradonor repair is ewaomically feasible and Lender's security is not lessened.If the restoradonor �'
<br /> repair is not economtcally feasible or I.eader's security would be lessened,the inswance proceeds shall be applied to the sums ��-.
<br /> sccured by this Security Instrument,wliether or not then due,with any exass paid to Bonower. If Bonower abandons the �-._'
<br /> Property,or does Aat answer within 30 days a notice from l.snder that the insurance carrier bas offered to settle a claim,then -
<br /> , l.ettder may coUect the insurancc proceeds. I.ender may use the proceeds to repair ar restare the Praperiy or to pay sums
<br /> ' '' secwed by this Security Instrument,whet6er or aot tlua due.The 30-day period wiU begin when the notice is given. _
<br /> � ' � Unless Lender and Borrower othernise agrce in writing, any application of proceeds to prinapal shaU not extend or
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<br /> postpone We due date of the montlily payments referred to in paragraphs 1 and 2 or change the amount of the payments. If �
<br /> � • under paragraph2l the Property is acquircd by Lender,Bonower's right to any insurance policies aad proceedsresulting hom __.
<br /> damageto the Property prior to the acquisidou shall pass to Lender to the extent of the sums securedby this Security Instrument
<br /> immedlately prior to the acquisidoa. -''
<br /> 6. Occupancy, P['CSElY8tI0D� M�intenana and Protsction of the Property; Borrower's I.osn AppltcaUooi I.aaeholds. �.
<br /> _-____ __-_ Bonowershall occupy. establish,andusethe Propertyas Bonower's principal resideacewithiu sixty days aftcr the execution of =.
<br /> � this Security Instrumentand shall conti.aue to occupy th�Property as Bonower's prindpal residence for at ieast one ycar aiter -
<br /> the date of occupancy,unless Lenderothuwise agceesin wrIting, which coasent shall aot be unreasoaablywlthheld,or ualass
<br /> , cxtenuattng circumstencea cxist wbich arc beyond Borrowcr's control. Borrower shall aot destroy, damage or impair tlu
<br /> Property,allow the Property to detcdorate.or commlt waste oa the Property. Borrower shaU bo in default if any forfciture
<br /> ' acttoa or proceedtng,whet�er dvi!or criminal, is begun Wat ia Lender's good faith judgmeat could result in forfelhue of the
<br />=:�' .� Property or otharwise matcriaUy impair the ticn createdby thts Security Instrumcnror Lcndcr's security intcrest.Borrowermay
<br />_% ''`�`"� '" cure such a default and reinstate�ss pcovidcd in paragraphl8, by causing the actioa or proceedingto be dismissed with a ruling
<br />� " t6at,in Le'nder's gooct faith determinaGon,precludes forfaiture of the Borrower's interest in the Property or other material
<br />�"� '� , impnirmentof the lien createdby t6is Security Instrwnentor l.ender's security interest.Borrower shall also be in default tf
<br /> B��nower,dtuing the loan applfcationprocess,gava materially false or lnaccurateinformadonor statementsto Lender(or failed
<br /> j�'�.;;"', to provide Lender with any materi�linfomia6on)in connectionwith the loan evideaced by the Note�including,but not limited
<br />°�-""�=�' to, reprcaontationscoacerningBorrower'soccupancy of the Propertyas a principal residence.If this Security Instrumentis ott a
<br /> � '' " leasehold, Bonower shall comply witL all the proviaiona of the lease. If Borrower acqaires fee tide to the Property, the
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<br />_�a�-;�'.a•.: lease6old and the fee title ahall aot mezge unless Leader agrees to the merger in writfng.
<br />�-�F•.'''�'�`�� 7, protecNon ot I.ender'e Rtg6ts inthe Property. If Borrower f a i l s to performthe covenantsaadagreementscontaiaedln
<br />���� ��~ thi.g Security Instrument,or thore is a legal proceedingthat may slgnificandy a�'ect Lender's rights ia the Property(sucb as a
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<br /> '"'"'�fi`"'` '� proceedingin banlcruptcy,probate,for wndemnadonor forfeiture or to enforce laws or regvlations),ihen Lender may do and
<br />:�,;,i;;��., pay for whatever is aecessaryto protectthe value of the Property and Lender's rights in the Property.Lender's actious may -
<br /> -`-`•-•':;-_�_.� iacludc paying any sums sec�ued by a lten which 6as pdority over this Security Instrument,appearing in court, payiaB
<br /> -_--_-,.�� reasonableattorneys'fees and enteriog on the Property to make repairs.Although Lender may talce action under t6is paragraph
<br /> �=_°-..��'� 7,Lender does not have to do so.
<br />�_'��'� Any amounts disbursed by Leader under thts peragraph 7 shaU become addidon�l debt of Bonower secured by t6is
<br /> '- y`.�' Security Instrumen�Unless Borrowcr and Lender agrce to other terms of payment,these amounts shall bear interest from the
<br /> �?`'''�'''r i• date of disburaementat the Note rate and shall be payable�with interest,upon aodce from Lender to Borrotiver requesting
<br /> - , � paymcnt.
<br /> S.MoctpQe Inauranca If LendErrequiredmortgagsinsutance as a condidon of making the loan securedby this Security
<br />; � , Instrumant,Borrowcr shall pay the premiums required to maintain the mortgage insuranco in effect. If, for any reesoa,the �.
<br />- mortgage insurance covcrage required by Lender lapses or ceases to be in effcct,Bonower shall pay the premluma requiced to
<br />_ obtain covcrage substantially equivtJent to the mortgage insurance previously in effect, at a cost substantially equivalent w the _,
<br />_�, cost to Borrower of the mortgage insurance previously in cffect, from en alternate mortgage insurer approved by Lender.If
<br /> substantially cquivalent mortgage insurance coverage is not available,Bonower ahall pay to I.ender cnch month a sum equat to
<br /> - one-twelfth of the ycarly mortgageinsurence premiumbeing paid by Bonower when the insurance coverage lapsed or ceasedto
<br />_ .y;s�• be in effect.Lenderwill accept,useaadretainthese paymentsas a loss reserve in lieu of mortgage insurauce. 1.oss reserve
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