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<br /> S. H�ed o�'Feupsty Ins�sreace.. Borrower shall kcep the imptaK°ments nnw existing or hereaRer erected oa the
<br /> proPpty in.sured against Io�s by fire. hamrds inc[uded wiihin the term'�xceaded coverage'and any other hazaxds.insluding ,
<br /> � Aoods or floading,for which txudet t�equiies�n��an�.This ia�urauoe sha116e maintained ia the mmouats and for the periods t .:.:
<br /> .F. F.
<br /> • that LRader requires.The insuranee r.ani�r Pmviding d�e insura��°�s�6e chase.n by Bormwer suDject to Iender's appmval �•. „
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<br /> wiuci�shall not be u�nably withheld. If Borrowee fa4ls to maintain coveiage descdbed above, Lender may,at Leader's i,�,•
<br /> � '�'�_:'r, 't.: � oprion,obtain ooverage to protect Leadzr's aghts in the Property in acoordance with paragtaph 7. °.
<br /> All insurance policies and renewats shall be aweptahte to Leader and shall inctude a�tandard mortgage ctause. L.ender t s.•;
<br /> ' f �.=� BoFrower shall ro tl 've tn Lender all recei ts of
<br /> • � shali 6ave the ri g h t to hoId the policees and renewals.If L.ender requir+es. P �P Y S� p
<br /> . '-.V. �, `�:.'.':('�., -
<br /> . paid pt�iums and reaewal natices.In the eveut of lo�.Borrower s6all give pmmpt notice to the insurance carrier and IRader. �_,..�-
<br /> Lender may make proof of Ioss if not made promptiy by Bbrmwer.
<br /> ,` : . c�`�, Unless Lender and Borrower otl�etwis�agee in writing,insurance praceEds shall be applied to�stoiation or repair of the � ' ..,.
<br /> ..�,.,,« •.�, `_ .
<br /> �P�Y�8�if the restoration or repair is eannomically feasibte and Lsader's security is not t�ssened.ff the;estoration or >`_=._-.
<br /> . � � '��.4 .� repair is nat emnoaucally fease'ble or I.ender's security woeild be tessened,the insaiance proceeds shaU be applied to the snms --
<br /> secureQ b3+this SewritY Instrument, whether or not th�n due.witb aay excess paid to Borrawer. If Borrower abandons the ;�`.'.
<br /> � , Property,or does not answer within 30 Qays a natice tmm Lender d�at the�carries has offered to seute a ctaim,then _
<br /> -• � , � Lender ma coIIect the insvrance praceeds. Lender may use the pmoeeds to repair or restore tiie Pz+�perty or m pay snms �; �:;
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<br /> secured by this Serurity Insha�ment,wh�tter or not then due.The 30-day period wilt 6egin when t�e notice is given. � �'_'
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<br /> . :� ° LJnless Iender and Borrbwer otherwise agree in arriting, anY application of proceeds w principal shall not extend ar °
<br /> . postpone the dae date of tlie monthlY payments referred to in paragraphs 1 and 2 or change the amount of the payments. If . • .?
<br />='�.�, ,: under paragraph 21 the Pmgerty is acqaired by Leader,Bomawer's right to si�}+insur�sce policies and pmcxeds r�sut6pg from ..;���,�
<br /> � • damage w ffie Property prior w the aoqnisition shall pass to Lender w the eatent of the sams secured 6g tlris Se�witg Instrament �
<br />�,r..:..':._..,,_'.:'�,: � immediately prior to the acquisition. . . , ''`"
<br /> ;.�., 6.Qocupancy,Preservatton.Maintenance and Prot�tfon of'the Propesty;Bt►rruwer's Loan�pgllration;'I.easehoIci's.� ,-
<br /> ''V o ,�..;:�:;� Borrower shall oauPYr establish.and use the Prupert�+as Borrower's principal residence withiu sixty days after the execntion of ?,,�"�:
<br /> ;�.�•.:
<br /> ` .;"�;. this Seairity Insmunent and shaq continus w occupy the Property as Borrpwet's PrinciPal.residence for at teast one year after •
<br /> • s- Rhe date of ocaipancy,untess Lender othenuise agrees in writing.which caasent shall not be uraeasonably withheld,or untess ':u r_
<br /> � '6,�., . ' exten�ating cic�.vm'stances exist whicH are beyond Borrower's canuu2. Bornnwer shall not destroy,'damage or impair the. . -
<br /> �-•< ; properry, allaw the Property to deteriorate, or commit waste on the Property. Bortower shaU 6e in defaalt if any forfeidue
<br /> . � ' action or pmr.�ding,wtt`ethes civil or esiminal,is begun that in Lender's gaod faith jadgment could nesuit in forfeiture of the � F.'r.T
<br />_:s' � ' PmPerty or oth�►5se materially impair the lien created by this Security Instr�ment or Lender's security interest.Borrower�hay �;:;�
<br />--' ' cure such a def�t and reinstate,as pmvIded in paragraPh 18.hy causing ihe aetion or pmceeding to be dismissed with a rpling �.__ --
<br /> �'� � that, in Lender's good faith determinadon, precludes forfeiture of the Borrower's inierest in the Property or other material� �_:��_;=
<br /> , � � . iinpairu�ent af the lien created by this Security Instru�nent or Lender's security interest. Eorrower shall alsa be in default if n
<br /> , 4 . _ Borrower,during the 2oan agplic�tion procesg.gave materially false or inaccurate information or statemenis to Le�dder(or faited
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<br />--. • to provide Lender with any inater�al information)ro connection with the loan evidenoed by the Note,inclading,but not�imited . .r,�,. __
<br /> _ ; , . �.� to,represertarions conceming Borrower's accupancy of the Propejty as a prinapai resideaee.If this SecuritY Inst�ument is on a
<br /> � '` ''� leasehold. Borrower shall comply with alt dte provisions of the lease. If Borrower acquires fee tide to the Property. the ,: -
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<br /> • � ' leasehold and the fee ritte shall not merge unless Lender agrees to the merger in writing.
<br /> . � '� ?.Proteetion oY Lender's Rights im t�te Prope�4y.If Eorrower faits to perform t6e covenants and agreements contain�d in �:_`
<br /> - � � � `" this Sewrity Insuument,or there is a tegal proceeding that may significandy affect Lender's r�Shts in the Prop2rty(such as a �=`-.'�:
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<br /> " ' praceeding in bankruptcy.probate.far condemnation or forfeiture or to enforce laws or regtilauons);t6en Ler.der may do and . �__._
<br /> - ' '. • �. ,. •= , pay for whazever is necessary to protect the value of the Property and l.ender's righu in the Propetty. I.ender's actions may a.;___
<br /> - ° . • . ::��;� include paying any sums seaued by a lien which has prioriry over this 3ecurity Instiument. apPearinS in court, PaY�B �� �-
<br />-- - reasnnable attomeys'fees and entering on the Property to make repaiis.Although Lender may take action under tlns paragaph
<br /> �� • 7,Lendes does not have to da so. � .''
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<br /> _ •: .�•��. Any amounu disburse�l6y Lender under this paragraph 7 shalt become additiona►,debt of Borrower secured by this
<br /> ,:�• �,: • Security Instrument. Unless�orrower and Lender agree to other terms of payment,these amounts shall bear in teres t from the
<br /> • .. • .. . date of disbarsement at the Note cate and shall be payable, with interest, upon nouce from Lender to Bonower reyuesung _
<br /> payment. ' _
<br /> - ' S.Mortgage Insurance.If Lender required mortgage insurance as a condition of�making fhe loan secured by this Security
<br /> � • Instrument. Bonower shall pay the pmmiums nquired to maintain the mortgage insurance in.effect. If, for any reason, the
<br /> � : �. . mortgage insurance coverage requiretl by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to .
<br /> '',;°; ' �: • obtain coverage stt6stantially equivalent to the mortgage insurance previously in effect.at a cost substanrially equivalent to the .
<br /> �- • sost to Boaower of the mortgage insurance previously in effect. from an altemate rnortgage insnrer approved by l.ender. If
<br /> - . �• substandally equivatent mortgage i�urance coverage is not available.Borrower shal]pay to Lender esich month a sum equal to .
<br /> . one-twelfth of the yearly mongage insurance premium bein�paid by Borrower when the insurance caverage lapsed or ceased to �
<br /> r: � � � • be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �
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