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<br /> `� ''�� 5. Hazard or ProgetEtty Iasueaace. Borrower sball keep ti�e impruvements aow existing or hereatter er�cted on� �,
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<br /> �' . � � tioods or tlooding.for wiuch l.ender requires insutauce.'IUis insurance sha116e maintained in the amounts and for the periods 5-- ,
<br /> � `' that Leader requires. '�he�nsnr�ce carrier praviding'the insurance shatt be chusen[ry Borrower subject to i.xnsler's approval ' •
<br /> � �''` � �arhich shall not 6e unreasonably.witiiheld.Jf Borrower fails to maintaia coverage descri6ed above. i.ender may.at Leader's `
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<br /> `R�:. option,obtain coverage to pmtect Lender's rigfats in the Property in accordance wish paragraph?. ` `<:
<br /> ` ° `r« qU insuraace policies and renewais s4all be acceptabte to fxnder and sball iaclude a standard mongage ciause. Lertder `-_�``��
<br />` �'.'`�• shall tiave the right to hold the policies and renewals.If l.ender requir�s,Borrower sBall pmmptiy give to i.ender all receigts of - ,
<br /> �� = paid premivms and renewa�nocices.In the event of loss.�orrower sha11 give prompt notice tn t6e insurance cazrter and Lender.
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<br /> ;..<. ' Lender may make proof of lass iF not made prompt}y bg Bornnwer. . �� '"
<br /> �i� Unless Lender and Borrower otlzerwise agne in writing.insurance pmceeQs shall be applied to rescotatian or repair of the `` �
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<br /> � . - . �•.;;: PmPerty damaged,'if tfle�eswiation or repair is econonucalIy feasibte and Lemier's seauity is noi lessened.If the restoradon or ��.:°_�__-
<br /> , ` ..�� ;; repair is not eaonomic�lly Feas3bte or l.ender's security would be l�ssened,the in��nce proceeds shall be agpl�ed W the sums �,:---
<br /> -, ; ���: secure�6y this Securiry Instrument,whether ar not then due. witb any excess paid to Botrower. If Borrower a6andons the -_--
<br /> ', _ ,` ._.�; Praperty.or does not answer within 3�days a notice from Lender that the in�uraace cazrier has offered w settle a claim,then ...'�-'•=.
<br /> " � . t� Lend,er may colled the insurance�rooeeds. L.euder may use the pmceeds w repair or resto�tiie Property ar to pay snms Y`:-•'
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<br /> `; ' ,� secur�d by Wis Seturity Institunent,whether or not then due.The 30-day perldd arill begin when the notice is givea •. ��.:
<br /> '-' V , - ..�, Unless Leader and Bo�rower otherwise agree in wriang,.aay a�Plic�tion of prooeeds to prinapal shall aat �d or ,.
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<br /> .'� �.' • po�r,°,the du�date of the mant6IY Payments refemed w in paragraphs 1 and 2 or change We amount of the paymeQfs. Ur ...-
<br /> -`:�'-` ...I,"`��: unc�a�azagraph 2t the Property is acquired by Lender.Bo;rower's rigi�t to any insaraace policies and pcoce�fis re.svitiag from _
<br /> � •- _. damage to the Property prior ta the acquisition shall pass to Lender to the ement of the sums secured by ri�is Security Instrament - __---
<br />- ' � '��;�: immediatety.prior to the acquisition. . :
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<br /> ;'�.§�, 6.�cwpaucy,Peeservatiea,Matt�tenance and Prot�cbton oY t6e Property,Borrower's Loan Appllcattoa;I.caseholds. ,.:"y��T,
<br /> - ' . Bormwu shall nccvpy.c.ttabtisfa.and use the Property as BmYOwer's principal residence within s#xty days after the execuuoa of .� `�:,` .-
<br /> �.;� this 3ecarity Iastnrment anQ shall�continue to accupy tiie Property as Borrower's principal resldence for at least one year after E •_._:���
<br /> , the date of aaupaaty,untess I.ender otherwise agrees in writing,which conscnt shall not 6e��n*��ahly withhetd, or unless , xr�:
<br /> ` '� extenuadng circ�mstahces exist which are beyond Borrower's comrol. Berrower shall not•d�stroy, damage ar impair the `%_-
<br /> '` . , ° Pro allow�}��Froperty to '�eriorate,or commit was•.e on the Property. Borrower shall 6e in default if azry forfeitare °,�='-<°2:`
<br /> - . E;,,',i1 ' �L�I�� "'Y �:m�e�';::
<br /> ,� � �'. actioz��s ceedin whether��or eriminal,is be ��in Lender's aod faith'- coutd tpsult in forfeiture af the i;--,---- -
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<br /> , .. ,;,.; Prope�ty or atherwise materiafly impair the tien created,by t�a:s Secvrity Instrument or F�der's serurity intemst.Borrower may :�;�,��
<br /> � ` cure such a defa•.�and reinstate,as provid�da y�aragcaph 18.by causing the acceo�►or procc�ing to�x dismissed wish a ruling ���.
<br /> -=�^-.._•��� thas, in Lender's b..:.�.fsith�Pf�*+*FSna+;on.��cludes forfeitare of the Sorrower's interest in the L�erty or othes material . �••
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<br /> impairn�ent of the lien created by this Security Insuumeut or Lender's securiry interest. Bonower 5ti.:*1 also be in default if ''�•T��:�
<br /> t��_� s�.,,�,_._' . :� Mt6vYp•.
<br /> -' .;';;�''" . .• Borrower,during the loan aFplication process.gave materialIy false or inaccurate infom�ation or state�nents to Ixnder(or fssiled =--`7�'
<br /> • � � ' to provide L,en�er tivith any material informadon)in connection with the loan evidenoed by the Note,inc�uding,but not limited -
<br /> -�---- �-_ -' to,represematians conceming Borrower's oaupancy of ttte Property as a priacipal resideace.If ihis Security Instrument is on a _ ___
<br /> . � �� leasehold, Borrower shal) comply with a11 the pravisions of the lease. If Borrower acquires fee utle to ihe Property, the `;.;;_,,,,
<br /> . � , ' � �' (easehold and the fee tide shall not merge untess Lender agrees to the merger in writing. ' �-y�`=:
<br /> � ' . 7.Protectton of Lca�der's Rig�ts tn the Property.If Borrower fails to perform the wvenants artd agreements contflined in ' f i.:
<br /> '� � ' this Securi Inatrument..or there is a 1 ai �mceedin that nay significantl affect I.ender's ri ts in the Pro
<br /> =3+ eS P � Y 8� P�S; (such as.a
<br /> ��� . • : � roceedin in bankru .prabate,for wndemnarion or forf.iture or to enforce laws or regulations),dten Lender tnay do atid �_:'
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<br /> � � pay for wttatever is naxssary to piotect the value of ihe Property and E.ender's rights in the Prop_rty. LQUder's actians may "�::
<br /> �r'`' � � ; ;� include paying any sums sec�:red by a lien.which has priority over t!:is Security Insmiment. appearing in cauri. paying ' ' ' -s� _
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<br /> �- . reasonable attorneys' fees and entering an the Property to make repairs.Althou�h Lender may tske action under this paragraph . _, _
<br /> ,. ,
<br /> '1 � . 7,Lendcr does�ot have to do so. ' � -
<br /> '" � •• ' .' Any amoanu disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> � ..� _ .�•.; Security lnstrume�x. Untess Borrower and Lender agree to other terms of payment.these amounts shail bear intereat from tde , •
<br /> -' '� „ date of disbunement at the I3ote rate and shall be payable, with interest. upon notice from Lender to Barrower requesting -�
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<br /> `' . • Payment. . °.`;:�`:
<br /> � f3.�Mortgage Insurenee.lf Lender reqnired mortgage insurance as n condition of rnaking the loan secvred by[his Security _
<br /> y;, : � � Instrument. Borrower shali pay the premiums rcquired to maintain the mortgage insurance in effect. If. for any reason, the � .
<br /> �`� �� ' . ': ' mortgage insuranca coverage reqaired by l.ender lapses or ceases to be in effect.Borrower shall pay the premiums required m . _
<br /> '''. '. . obtain coverage s¢�stantially equivalent to the mort$age insurance previously in effect.at a cost substantially ecyuivalent to the .
<br /> �a��: � � � mst to Borrower of the mort;age insurance previously in effect. f'rom an atternate mortgage insurer approved by I.ender. If . �
<br />_ ' � •i substantially equivalent atort�:insurance coverage is not available,�orrower shall pay to Lender each manth a sum equal to .
<br /> .��; : one-tv�elfth of the yearly mor.gage insurance premium being paid by Bonower when ihe insurance coverage lapsed or ceased to : :
<br /> •- . . be in effect.Lende�will accept,use and retain these payments as a loss reserve in liw of mortgage insurance. Loss reserve
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