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<br /> ���� � 5.Hazard or Property Insurance. Botrowcr shall koep the improvcmcnts now exisdng on c�rcafur crccted an the F'roperty
<br /> '''�A""Q insurcd against loss by Cua. 6a�.ards inctudcd within the cerm"extendcd covcragc" and eny othcr harards,Including floods or
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<br /> fYood3ng,for which I.cndcr rcqulres insurance.'It�is insurancc shall bc mainmincd tn th�tunounts and for thc periods Ihat I.cndcr _
<br /> �����"�'��- rcquires.Tha insurancc cacr€er provtding thc ins�sranco shall bc chosen by Borrowcr subjcct to L.cndar's approvAl which shull not
<br /> '�''_:``''° �' be onreasonably withhcld if Bortowcr fuils to maintain coverago dcscribed abovc. Lcndcr may. at L.cndcPe opilon, obtair+
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<br />- �`� � . covcragc to protect Lendcr's dghts in tha Property In Accordanca�vith paregraph 7.
<br />`"�%���., AU insurance policies and renewals shall bo acccptabk to 1.ender and shall include a standard mortga�te clausc.Lcndcr shall �-
<br /> -'�' "' �p� havc thc right to hold tho poticies end renewals.If L.endet rcquires,Borrowcr shaQ promptly give co Lcndcr atl rcccipts of paid
<br /> ` �:•� remiums and renowal notica;s.In Iha evcnt of loss,Boirawer shall�ive prompt nodce to the insurance carrier and Lender.Lender �
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<br /> � may makc proof of loss if not mado promptly by Horrower.
<br /> `�� Unlcss Lcndcr and Borrowcr othuwisc agrec in wrlting.insuranca procceds shall ba applled to resLoreBon ar repair of tha
<br /> . -- pmperty damaged,If the restoration or repair is economically feaslbk and Lendu's sccurlry is not lessened.If Iha restoratian or
<br /> �'�+•: repair is not ecunomkaUy Fea4ible ar I.ender's sccurIry would be lessened.the Insurance procccds shall be appUcd to the sums
<br /> �'^�`�-:�-� sectuod by �his Secnrlty Instrument, whethcr or not then due. with any excess paid to Borrower. lf Borrower abandons the
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<br />-__,..�;. Property.or does not answer withln 30 days a nodce fmm Lendu that the Insurance cerrier has affued to seule a eWm.then
<br /> _�;;� Lendu may coUoct the insurance proceeds.Lender may use the proaeds to repair or resw[e ihe Propcity or to pay sums socurcd
<br /> - by this Sectvlty Instrument,whethu or aot then due.'I'he 30-day perlod wi11 be8in whcr�tha nodce is gIv.n.
<br />_ -n� Unless Lcnda and Borrowcr otherwise agree�n wdting.a�►Y aPPllcaation of procectis to principal shaU not extend or postpone
<br /> '"'7-��+ the dae date of the monihly payments referred to in paragraphs 1 and 2 or chanRe ihe amount of rhe payments.If undcr paragraph
<br /> -_���'� 21 tho Prope�ty is ac4uirod by L.endu,Borrowu's dght to eny insurence policits and proceeds resulting from damage to the
<br />-- - - Property prbr W the acyuLsidon shall pass w Lendu to the oxtent of the sums secured by this Security Instrument immediately
<br /> _-- = prlor to tho ecquisition.
<br /> ��`��— 6.Oocup�ncy,Preservallon,Maiatenance and Pratectioa ot the Propertyi Borrower's Loan Applkatbn;I.ea�eho{ds.
<br /> -�w.�-- Borrower shall occupy,establish.and use the Property as Borrower's principal residence within sixty days after the execuaon af
<br /> ' this Security Instrument and ahaU contlnue to occupy tha Property ag Sorrowu's principal residence fa at least one year afut the
<br />:�e°�.� date of occupancy, unless La►du othuwise agrees in writing, which conscnt shaU not ba unreasaiably withheld. or unless
<br /> — extenuating circumstances wdst which are beyond Borrower's control.Horrower shall not destroy,damage or impair ihe Property,
<br /> allow the Proputy to daeeriorau,or commit waste on the Property. Borrower shall be in default if any focfelwre acdon or
<br /> pr0000ding,whether clvil or aiminal,is begun that in Lender's good faith judgment could result in fafeiwre of tha Pmperty or
<br /> otherwrlse mate�islly impalr the lien cceaced by this Securiry Ins�ument or Lender's security intens�.Borrowu may cure such a
<br /> default and reinstate.as provided in paragraph 18,by causing tha actbn or proceeding to be dismiued arith a n�ling that,In
<br /> Lender's good fa:th detrm►ination,procludes focfeiwre of the Borrowu's inurest in the Propaty or ah�r mat,erial impaitmu►t of
<br /> --- the lien ereated by Uds Security Inatrument or Lender's securiry incaesc.Borcowcr si�uit at;�,�e Li dafeuti if�armwrr.�ur�sg slsc
<br /> - loar►applicadon process.gave matulslly faLse or iaaccurate Infonnadon or statements to Lender(or failed to provide I.encler with
<br /> aay muuial infom�adon) in connocdon with the loan evidencal by the Note, including, but not itmited w, repro.9entations
<br /> conc,�ming Barowu's occupancy of the Property es a prL►cipal residenca.If►his Security Ins�ument iv on a leasehold.Bormwu
<br /> shall comply wlth atl the provisiona of the lease.If Borrower acqufres fee title to the Property,the leasehold and tha fa d1]e shall
<br /> not mage uNess I,ender�grees to the mugu in writing.
<br /> 7.Protection of I.ender'p Rights id the Property. If Borrowa fails to perfonn the covenants and agreements canteinal in
<br /> this Securiry Instrument,or I�ero is a legat proce�edjng that may signiC�candy affect Lender's rlghts in the Propeity (such as a
<br /> P��B���P�Y�P��for condemnadon or focfeiuue a to enforce laws or r�guladons). ihen Lender may do and pay
<br /> for whateva is neces.sary Lo prouxt the valua of the Property and Lcndcr's rights in the Pc'opaity.L.aider's acdons may include
<br /> paying any sums socurod by a lien which has pdority ovu this Securlty Instrument,appearing in court, paying reasonabk
<br /> auornays' fees and entering on the Propaty w make repairs.Although L�der may take acdon unda this par�h T,Lend�x
<br /> does not tu�ve W do so.
<br /> Any artwnnts disburaed by Lendu under this paregraph 7 shall become addidonal debt of Rarower socured by this 5ecurIry
<br /> Instrumen�Unkss Borrowu and I.cndu agaa to othu t�cros of payment,theso emounts shall tr�ear interest from tho date of
<br /> disbursement at the Note rau and shall be payable.with inurest,upon nodce from Lendu w Borrower reqncsting paymen�
<br /> a.Mort�e Insurance. If Lendu required mortgage insurence ag a condidon of malcjng the loen secured by this Security
<br /> Instrument, Borrowa shaU pay the premiums requind to maintain dx mortgege insuranca in effx� If. for eny reason. the
<br /> mortgage insurance covaage requlmd by Lendcr lapses or cea�.ses to be in effect,Borrower shell pay the premiums requind w
<br /> obtaln covaago substandally equivalent to the mortgago insuranca previously in effect,at a cost substandaUy equivalent W the
<br /> --_---�� cost to Borcower of the mortgage insurance previously in effcct,from an altemate mortgage insura approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available.Bomower shall pay to Lender each month a sum equal to
<br /> �• - one•twelfth of the yeazly mortgAge insurence prcmium M:ing paid by Borrowu when thc insurance coverage I�sed or cee�sed to
<br /> -���n��-� be in effecG Lender will accep�use and retain thcxe payments a�a loss resave in lleu of mortgage insurance.Loss re.sec�ve
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