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<br /> S. Hpxard or Pmperty [nsurall!!. Barrower �hall kecp tho impravcments �existing an c�:rcuftcr crcctccl on thc
<br /> Praperty Insurod ngainst loss by firs. huzards included withfn thc tcrm "extcndcd cavcragc" nnd nny othcr hau�rds, including
<br /> ticx�ds ar flaoding,fur which l.ender requires insurnncc.This insurance shull bc muintained in thc umnunts und far the periods
<br /> that Lender requihs. The insurnnce currier provtding thc insu�uncc shall be choscn by �►rrower subjcct to [.endcr's approval
<br /> which shull not be uarea.wnably withheld. If Bona�ver fails ta mnint��in caverage described above�Lender muy. ut Lcrxier's
<br /> uptiun,obtuin cuvcrube tc�protcct Lendcr's dbhts in the Property in nccordance with paragraph 7.
<br /> All insurance policies and renewuls shall be acceptable to L.ender ai�d shall iazlude a stundard martgage clause. Lender
<br /> shall have the rtght ta hald the policies and renewuls.If l.ender requires,Banower shall promptty give Ea Lender uil receipts of
<br /> paid premiums nnd renewal notices.In the event af loss,Borrower shall give prampt notice to the insurance cnrr[er und Lender.
<br /> I.encler muy rnake proof of loss if not mude promptly by Borrower.
<br /> Unless i.endcr und Borrower otherwise Agree in wrlting,insurance proceeds shall be uppUed to restarntion or repalr of the
<br /> Property damaged,if thc restoration or repair is economically feasible and Lendei s saurity is not lessenctil.lf the restaration or
<br /> r�pair is not economicalty feasible ar L.ender's securlry would be lessened,the insurance proceeds shall be upplted ta the sums
<br /> secured by this Securiry Instrument, whether or not then due. with any excess patd ta Borrower. if Borrower abandons the
<br /> Property.or does nat answer within 30 days a notice from L.ender thut the insurence carrier hes offered to settle a claim. then
<br /> Lender may collect the insurance proceeds. Lender muy use the proceeds to repzsir or restore tha Property or to pay sums
<br /> secured by this Securlty Instrument.whether or not then due.The 30-day pedod will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writir►g, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referreJ to in paragraphs 1 and 2 or change the amount nf the payments. If
<br /> under paragraph 21 the Property is acquired by C,ender,Borrower's right to eny insuranrc policies und proceeds resuldng from
<br /> • damage to the Property prior to the ucc{uisitjon shall pass to Lender to the extent of the sums secured by th3s Securiry Instrnment
<br /> immediately prlor to the acquisition. �
<br /> 6.Occupancy,Preservatton,Maintenance and Protecdon ot the Property;Borrower's I.oan Applic�ttton;Leasehotds.
<br /> �� Borrower shall occupy,establlsh.and use the Properry as Borrower's principal residence within sixty days after the execudon of
<br />' thls Security Instniment and shnU continue to occupy the Praperty as Bonower's principal res[dence for ut teast one year after
<br /> ' the date of occupancy,unless Lender otherwise agrees i�writing, which consent shall not be unreasonably withheld, or unless
<br /> axtenuating circumstances exist which are beyond Borrower's control. Bonower shall not desuoy. damage or impair the
<br /> Property, allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if eny forfeiture
<br /> actlon or proceeding. whether civtl or criminal, is begun that in Lender's good feith judgment wuld result in forfeiture of the
<br /> �.�: Property or otherwise mnreriaily impair ihc Iion c�c�tcd t�y ili3s Sczudr;Is�trurnenc o�LPnder's cecurity interest. Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 1S,by causing the acdon or proceeding to be dtsmissed with a ruling
<br /> ;;1 that, in I.ender's good faith determination, precludes farfeiture of the 8orrower's intercst in the Praperty or other material
<br /> r� tmpairment of the lien created by this Securiry Instrument or L.ender's security interest. Borrower shall also be tn default if
<br /> •�` Bonower,during the loan applicatian process,gave matarially false or inACCUrate informatton or statements to Lender(or failed
<br /> +� to provide Lender with any matedal information) in connection with the loan evidenced by th¢ Note,including,but not linnital
<br /> �� to.representations coneemjng Borrower's occupancy of the Property as a prineipal msidence.If this Security Instrument is on a
<br /> + leasahold, Barrower shali comply with all the provis3ons of the lease. If Borrower acquires fee title to the Property. the
<br /> leasehold and the fee title shall not merge unlcss Lender agrees ro the merger in writing.
<br /> 7.Protectton ot Lender's Rtghts in the 1't+operty.If Bonower fails to perforrn the covenants and agrexments contained ln
<br /> thts Security Inshument,or there is a legal proceedtng that may significantly affect L.ender's rlghts in the Property (such as a
<br /> proceeding in bankruptcy,probate.for condemnation or forfoiture or to enforce lawa or reguladons). then Lender may do snd
<br /> pay for whatever is necesssary to protect the valuc of the Property and Lender's rights in the Property. Lender's actloas may
<br /> � inc(ude paying eny sums secured by a lien which has priority over this Securiry Insuument. appearing in oourt, paying
<br /> ;� reasonable attorneys' fees and entering on the Property ro make repaics. Although I.ender may take action under this paragrap6
<br /> '� 7,Lender does rat have to do so.
<br /> �� Any amounts disbursed by Lendor undar this paragcaph 7 sh�ll become additional debt of Borrower sccurod by thls
<br /> � Secudty Instrument. Unless Borrower and Lender agrea to other terms of payment,these amounts shall bcar inte�est from tha
<br /> '�, date of disbucsement at the Note rate and shall be payablc, with intexest, upon norice from I.ender to Borcnwer roquost9ng
<br /> �� payment. •
<br /> N 8.Mortgage InSUrA»ce.If Lender requirod mortgage insurance as a conditlon of ineking the loan secured by this Security
<br /> �; Insnument. Bonower shall pay the premiums required to maintain the mortgage insurence in effect If. for any reASOn, the
<br /> �� mortgage insurance coverage required by Lender lapses or ceases to bo in effat, Borrower sh�ll pay the pnmiums required to
<br /> , obtain coverage substnntially equivalent to the mortgage insurance previously in effxt.at a cost substentially equivalent to the
<br /> � wst to Bonower of the mortgage insucance previously in effect, from an altemate mortgage insurer epprova!by Lender. If
<br /> 1 substantially equivalent mortgage insurunce coverage is not available.Borrower sh�ll pay to L.cader each month a sum equal co
<br /> j one-twelfth of the yearly mortgage ir�surance premium being paid by Borrower when the insurance coverage lapsal or aasod ta
<br /> � be in effect.Lender will accept.use and retain these payments as u Loss reserve in lieu of maRgage insurance. Loss reserve
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