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<br /> S.Ife�cd or�'ro�aerty Insuranee. Borrowcr shali kcep tf►e impruva►uents now cxtsting orTCereaf�eUrecM�n�h�Pr°P�?' _
<br /> insured agalnst lass by C�re, hezards included wfthin tho term "extended coverago" and any other haxards,including lIurxi��e _
<br /> flaading.for whfch Lender requires insurance.This ins�t'anca shall be mainiau►ed in the amount�and for thc pedods that L.cnder
<br /> rtq�irrs.The insurance carcler provlding Ihe insuranee shall be chosen by Borrower subject to I.endcr's approval which shall not
<br /> ba �nreasonably withhcld. If Borrower fail.9 w maint�in coverage describeA abo��e, Lcnder may, at L.cnder's opdon, oh�ain
<br /> coverage to prouxt Lender's rights in the Pmperty in eccordnnce with paragraph 7.
<br /> All insurance pollcies and renewals shaU be aeeeptable to Lender and shall Includa a standacd mortgage clause.Lender shsxll
<br /> huve the right tc�hold the policies end renawals. If Lender requires,Borrower shall prompdy glve to Lender all recuipts of paid
<br /> premiume and renewal nodcca.In thc cvent af loss,�3oaower shall givc prompt nodce w thc insurance carricr and Lendee. Lender �
<br /> nwy��isk�p�oaf af tass if noi m�ie pcampdy by Borrowc.r. �.
<br /> Unless Lenda and Borrower otherwise agree in wridr►B•insurance Proce�ds shall be applicd co restoratlon or rcpalr of the
<br /> Property damaged,if the reswration or repair is economically feaslble end Lender's sccurlty is not Icssened.If thc restoradon or
<br /> repair is not economically feasible or L.endes's seciulry would be lessened,the insurance pr�cceds she�1 be aPPlled to the sumn
<br /> secured by this Securlty Instrument,whether or not then due. with any eacess paid to Borrower. If Borrower abendons the
<br /> Proputy,or does not answer within 30 days a nodcc from Lendu that the insurance carrler has offered to seale a claim,then
<br /> Lender may wUect the insurence proceed9.Lender may use the proceeds to rcpair or restore the Property or to pay sums secured
<br /> by this Security Insuumcnt,whether or not then due.'I7�e 30-day perlod wi11 begin when the nodce ls given.
<br /> Unless I.ender and Borrower otherwIse agree in writing,anY ePPlicadon of proceeds to prtncipal shall not extend or pos�one
<br /> the duc date of the monthly payments referre�to in paragraphs 1 and 2 or chauge the amount of the payjiients.If unda para�aph -
<br /> 21 the Property is ac9uired by 1-ender.Borrower's dght to any insurance policies and praceeds resuldng from damage to the
<br />� Fropecry pdor to tha acquisidon shaU gass w I.ender to the extent of the awas secured by thls Securlty Instrument Immediuely �
<br /> prior to the acquisidon.
<br /> 6.Occupancy,Preservatba,M�tntenxnce and Protection ot the Property; Borrower'e Lopn Applicatton;Lsase6oWs.
<br /> Borrower shall occupy,establjsh,and use the Property as Borrower's Pdncipal residence within sixry days after the execudon of
<br /> this Securiry Insuument and shall continue w occupy the 1:>ropecty as Bomower's principal residence for at least one year afta ti►e
<br /> date of occupancy,unless Lender atherwise agrees ia wridn8. whiclt consent shall not be unreasonably wlthheld, or unless
<br /> sxtenuadng circumstances exist which are bcyond Borcower's control.Borrowcr shall not destroy.demage or impalr the Propeciy.
<br /> �o�,�r �a property w deterlorato, or commit waste on the Property. Borrower shaU be in defsult If any forfeiwre sicdai or
<br /> procoeding,whether civil or crLr►ina1,�s beBvn that in Lender's good feith Judgrnent could result tn forfaiture nf the Proputy or
<br /> otherK,ise mater�al;y impair ths llen created by this Security Instr�ment or Lender's security intcrest Borrower may cure auch a
<br /> default and reinsteta,es provlded in paragreph 18,by cansing the xdon or pinceed�ng co be dismissed wiQ►a rullng the�+ in
<br /> ��'o g�f����Q�,gir�����iea f�rfeiwro of tho Borrower's interest in the Property or other macer3al impairma�t of
<br /> ihe lien created by this Securlty Insttument or Lendec's securlry intere.�¢.Borrower shell also be in default�f Borrower,during the
<br /> loan appllcation process.gave matalally felse or inaccurate infomnadon or statemeuts to Lender(or failed w provide Lende�with
<br /> any matuial information) in connxtion with the loan evidenced by the Note, including,but not Wnited to. represenndc,ns
<br /> coneerning Borcower's oceupaney of the Property es a prineipal resideace.If Ihis Secority Instrument�on a leasehold.Bomower
<br /> shall comply with aU the provisions of the lease.If Bomnwer acqu3res foe tltle to the Prnperty,the leasehold and the fee titk shall
<br /> not mage unless Lendu agrces w thc mergu in wrlting.
<br /> 7.Protection of Lender'e Rights in the Property. If Borrower fails to perform the cnvenants and a�aments contained in
<br /> this 5ecurlty Instrumeat,or there is a legal pmceedin8 that maY slgnificantly affect Lendu's rights in the PmpatY(such as a
<br /> proceeding in baniauptcy,probate.for condemnadon or foTfeiwre or to enforce laws or segulation�).t6en L.ender may do and pey
<br /> tor whatever is nec�ssary fu�,.ukxt ttia vetuc af tl�c Prap.."zty a�sd Lendts's rights ln the P►o�+ty.Lender's acdona maY�ludo
<br /> payin8 ony sums secund by a llen which has priodty over this Secnrlry Insuument,appearinB in court+ PaYin&rc�nabk
<br /> auomays' fees and ent�ering on tho Propaty to meke r�sirs.AIt1►ough Ler►der may telce acdon under this paragcaph 7.Lender
<br /> does not 6ave to do so.
<br /> Any amounts disbursed by Y..ender under this paragraph 7 shall become addidonal debt af Bo�wu secured by this Saurity
<br /> Instrument Unless Borrower and Lcnder agree to other cerras of payment,these emounts shell bear interest from the date of
<br /> disbursement at the Nate rete and slwll be payable,with intenest,upon nodce ftom Lender to Bocrower requasting paymen�
<br /> 8.Mortgage Inaurance. If L.ender cequired mortgage Insusance es a condidon of making ihe loan secured by this Sxurity
<br /> Instrume�nt, Borrowa shall pay the premiums required to maintain the mortgage insurance i�offcct. If. for any reagon. the
<br /> mortgage insurance coverage required by Lenda lapses or ceases to be in effect,Borrower shall pay the premiums requicod►o
<br /> obtain wverage substant�ally equivalent to the mortgage inaurence prevlously in effe�t,at a cost substant3aslly equivalent w the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altemute mortgage insurer approved by L�ender.If
<br /> substantlaUy equivalent mortgage insurance coverage is not availnblo,Botrower shall pay to I.ender each month a sum equal to
<br /> one-twelfth of the yearly mortgege insurance premiuni being paid by Borrower when the insurance coverage lapsed or ceased w
<br /> be in effecL L.ender will accept, use and retain thcse payments ns a loss resecve in lleu of mortgago ins�ua�►ce.L.oss ttsecve
<br /> Fortn 30Z1�/10
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