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201209481 - In tLe event of lose, Borrower shall give Lender immediate notie�by mafl. Lender may make proof of loss if uot made promptly by Borrower. Each insurance wmpany concerned is hereby authorized aud d'uected to make payment for such loss d'uectly to Lender, iastead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by Leix'ler, at its option, either(a)to the reducfion of the indebtedness u�der[he Note and this Ser,urity Iastrument, Cusl to any cielinquen[amounts applied in the order in paragraph 3, and then to prepaymenc of principal, or @)to the restoration or repair of the damaged Proper[y. Any application of tLe prceeeds to the principal shall not extend or postpone the due date of the monthly payments w6ich are referred to in paragraph 2, or change the amount of such payments. Any excess ins�uance proceeds over an amount required to pay all outstanding indebteclness under the Note and ttis Security Instrument shall be paid to the entity legally enii8ed thereto. In the event of foreclosure of this Security Instru�nt or othet transfer of litle to fhe Proper[y tha[ e�cti¢guishes the indebtedness, all right, ri8e and in[cres[of Borrower in and to insurance policies in force shall pass W the purchaser. 5. Occupancy, Preservatian, Maintenance and Protection of the PropeRy; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Bormwer's principal . residcnce within sixty days after the execution of this Security Inshument(or within siety days of a later sale or transfer of the Property)and shell contin�e to occupy the Property as Borrower's principal residence for at least o�year after the da[e of occupancy,unless Lender determines tha[requirement will cause undue hardship for Borrower, or ualcss extemiating circumstances exist which are beyond Borrower's control. Borrower shall notify Le�er of any exlenuating circumstances. Sorrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear a�tcar excepted. Lcnder may iffiyect the Property if the Properiy is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Bonower � shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements [o Lender(or failed to provide Le�er with any material information) in connection with the loan evidenced by the Note, including,bal�t limited to, rcpresentations conceill(Dg Borrower's occupancy of the Properry as a principal residence. If this Securiry Instrument is on a leasehold, Borrower s6a11 comply wi[h the provisions of the lease. If Borrower acquires fee tifle[o the Proper[y, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. B. Condemnation. Tlte procceds of any awazd or claim for damages, direct or consequential, in connecfion with any condemnation or other taking of any part of the Property, or for conveyance in place of conciemnation, ere hereby assigned and shall be paid to Lender to the exlent of Ihe full emount of the indebtedness[hat remains w�paid uuder tl�e Nole and lhis Securiry Instrument. I.ender shell apply such procceds to[he reduction of t6e indebtedness under lhe Note a�this Security Instnunent, f'ust to any delinquent amounts applied in the order provided in paragrepb 3, and fhen to prepayment of pri�ipal.Any application of the proceeds w the principal shall not eMend or postpone the due date of thc monthly payments,which are refeaed to in pazagraph 2, or change the amount of such payments. Any excess proceeds over an amount requ'ued to pay all ou[standing i�cbtcdness under[he Note and Ihis Security Instrument shall be paid to the entity legally entiUed thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Boaower shail pay all governmental or municipal chazges, fines and impositions that aze mrt included in pazagraph 2. Borrower shall pay fhe.se obligations on time direcdy ro the enGty which is owed�he paymcm. If faIlurc to pay would adveisely affect Lender's interest in thc Property,upon Leader's request Borrower sUall prompdy fumish to Lender receipfs evide�ing these payments. If Borrower fails to make fbese paymen[s or the payments required by paragraph 2, or faIls to perform any other covenants and agreemen[s contained in this SecuriTy Iastrument, or there is a legal proceeding that may Walcer�sK/aRnerc'ml�5ervicas �II��Y�IIIq�ll�l'�I�I�IIIII�III\II VMP4NINPa9e4ofa� q033309Y57i7 0333 618 OQO � � I 1� V�-+ F�