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<br /> �” � including t�oocls or flcx�ding, for whi�h L.endcr requires Insurancc.This idst�tt�cehall�be nuintained in thc amounts and _
<br /> '• for the perlods that l.endcr requires. Thc insurance carrier providing the insurancc shall be choscn by Borrowzr subject [o
<br /> • L.endet's appr�val which shall not be unreasonably withhel6. if&�rrawer faHs to maintain coverage described above,
<br /> _ ' Lender may, nt L.en�cr's opdon, o6tain coverage to protect Lender'a rights in the Propeny in acrnrdanc�with paragraph =
<br /> 7,
<br /> �:� All insurance policirs and renewale shull be acc�ptable tu l.ender and shall inciude a stendard n�ortgage clnuse.
<br /> „ _� l,ender shall have thc right to hold the pelicles and renewals. If l.ender requlres, Borrower shell promptly give to Lender
<br /> . -. � all rcccipts of paid pr�mium.s and renewel noticcs. In thc cvcnt of loss,Dorrawer shall give prompt notice to the insurancc �
<br /> ' carrier and Lender.I.ender may make prc�of of loss if r�ot made promptly by eorrower.
<br /> Unless Lender and Borrower otherwis�agree in writing, insurance proceeds shall be applied to restoration�r repair
<br /> � of the Property damaged, if the restoratlon or repalr is econom�cally feasible and Leader's security is not Iessened. If the
<br />= �' � '� restoration or repair i9 not economlcally feaslble or l.ender's security would lx lessened,the insuranc�e pracc�eds shall be
<br /> iapplied to the sums secured by this Security Instrument, whether or not then due,with any excess Paid to Borrower. lf
<br /> � Borcower abandons the Property, or does not answer within 30 days a natice Prom L,ender�he!the insurance carrier has
<br /> � offercd to settle a clairn,then L.ender may callect the insurance proceeds. l.ender cnay use the praeeds to rePair or restore
<br /> - , the Property or to pay sums secured by this Sec:urity Insnvment,whether or i�ot then due. The 30-day �x:rtod will begin
<br /> � wh�en the notice is given,
<br /> " Unless l.ender and Borcower otherwise agree in writing, any application of proceods to principal shi„P ty xtend or
<br /> postpone the due date of thc monthly payments referred to in paragraphs 1 and 2 or change thc amount c: e a ments. If
<br /> � under paragraph 21 ttie Praperty is acqu�red by Lender,Borrower's right to any insurance policies and proceeds reaulting
<br /> from dunage to the Property prior to the acquls�tion shall pass to Lender to the extent qf the sums secured by this Ses:urity
<br /> � Instrument immediately prior to the acquisition.
<br /> b. Occupancy,Pceservatlon, Matntenance and Protectlon ot the Propecty;B�rrower's I.oan AppU�.�tlan;
<br />- Leaseholds. Borruwer shall occupy, establish, a�id use the Property as Borr�wer's prmcipal residence within sixly days
<br /> . after the execution of this Security Instrument and shall continue ta occupy the ProQei�ty as Borrower's principal residence
<br /> • for at least one year aQer the date of occupancy, unless Lxnder otherw�se agrees�n wnting, which consent shall not be
<br /> unreasonably withheld,or unless extenuating circumscances exist which are beyond Borrower's control. 9orrower shall not
<br /> ' , destroy, daznage or impair the Pmpert�, allow the Property to deteriorate, or commit waste on the Property. Bonower
<br /> shall be in default if an� forfeiture action or proceeding, whether clvil or criminal, is begun that in Lender's good faith
<br /> A•. .. ,., judgment could result�n forfeiture of the Froperty or otherwise materially impair the lien created by this Security
<br /> Instrument or Lender's security interPSt. Bonower ma�cure such a default and reinstate,as provided in paragraph 18, by
<br /> � causing �he action or proce�cling to be dismissed w�th a ruling that, in I.ender's goad faith detecmination, precludes
<br /> � ,,.. forfeiture of the Bormwer's intcrest in the Property or ather material impalrment of tlie lien created by this Securiry
<br /> Instniment or Ix.�der's security intcrest. I3orrowcr shall also be Bn default if Borrower. during tl�.e loan application process,
<br /> � gave materlally false or ineccurate information or stateR�e:nts to L.ender (or failed to provide l.ender with any material
<br /> e:
<br />;'' information) in connectian with the loan evidenced by the Note,including,but not limited to, representations concerning
<br />-p,rti�,�:�i+- Boi7ower's occupancyof inr Fcuperty as a prir,cipw res�der.ce. If�his�u*�ry Ir�s,t�imPnt ic on a leasehold.Borrower shall
<br /> �� comply w�th all the �rovisions of the lease. If Borrower acquires fee title ta the Propeny, �he leasehold and the fee title
<br />��� �`"'��''�." sha11 not mergo unless[.ender agrces to the merger in writing.
<br />�.,.�..;,�: •
<br /> v�..•r.:�'�' 7. Protectlon of Lender's Rights in the Property� If Bunower fails to perform the cAVenants an agreements
<br />�,`' . ; :ti� contained in this Security Instrument, or there is a legal proceeding that may si&nfHcantly affect Lender's righGS in the
<br />-- ••�• Property(such as a praxeding in bankruptcy, probate, for condenuianon or forfe�ture or to enforce laws or regulations),
<br /> �y�:.�4�� �;:;4 then Lender may do and pay for whatever is necessary to protect the v�lue of the Propeny and Lender's rights in the
<br />.s,,.r;, •,,;:,. Property. L.ender's actlons may include paying any sums secured by a lien which hac priority over this Sxurity
<br />���"' Instrument, ap earing in aourt, Raying re�.sonable attameys' fe�s and entering on the Propeny to malce repairs. Although
<br />���'" "'`,. Lender may t�e action under th�s paragraph 7, Lender dces not have to do so.
<br />---`'""" Any amounts disbursed by I.ender under this paregreph 7 shall beco►r�additional debt of Bonower secured by this
<br />'� �'���'`"" Securit Instntment. Unless Bonower and Lender agree to other terms of payment,theu amounts shell bear interest frotn
<br />-�ra��,� Y
<br />-d=.�-:�•�K��� the date of disbursement at the Note rate and shall be payable, with interest, upon notice from L.ender to Borcower
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<br /> —�;�r",�� requesting payment.
<br />-.-��.��_•W 8.Mortgage Insuranee. If L,ender required mortgage insurance as a condltlon of rnaking the loan secured by this
<br />- -�r��'� Security Instcument. Borrower shall pay the premiums required w maintain the mortgage insurance in effect. If, for any
<br /> �:!'?`u"'''�'. reason, the mortge�e insurance coverage requ�red by Lender lapses or ceases tu be in effect, Borrower shall pay the
<br />;-��.. •.. :y premiums required tu obtain coverage substantially eyuivalcnt ro the mortgage insurance previously in effect, at a cost
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