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<br /> � � S. HazArd or Property lruurnoce. Bnrrower st�ull keep the in�provementv now ezititiug on c�reafter erecte�i on the �
<br /> • Property fn.sureJ ag���.yt loss by fire, huzard9 included within d�e tenn "extended c�vcrage" and any athrr hxzardy, including
<br /> flaocis ur flcxxling,for wbich L.t:ndes requires ittisurance. Tliis insurance shxll he mxlntxined ln th� emountR and for d�e pericxls
<br /> � d�at I.erxler requlres. The inr•urdnce carrler providing the i��.tiuran�:e hhall he chosen hy Aorrower subject to Lender's uppravAl
<br /> wtilch ahaU not be unreasa�wbly witt�held. If Barrawer fails to mainutjn covrrxge Je.SCrihed six►ve, L.e��ler n�ay, at Leixler'n
<br /> , opdon.obtain coverage to pratect Lender'a righte in the Propeny in accorcUuxe wid�paragrwpl�7.
<br /> All insurat�cx palicies a�xl rouewaly sUaU t►e acceptable ta L.ender �uxl shal! include s stx�ulard mortgage clAU.se. I.etuler _,a,
<br /> � shull have the rlght to liold the�Ncies and renewals. If l.cnder requires, Barrawer shall prompdy givc t��Ixixlcr all cecefpGy of "°,
<br /> ' �' paid pren�iutas atfd renewal natiaes. In the ovent of lusy, Burrower tibuil gfvc pronipt n�dce to the€i�surance crnier nnd L.ender. ��„
<br /> „ �� � LecKler a�y make proof af loss if not made promptly by Bonawer. _-
<br /> � Unless Lender und Bonower otherwise agree in wridng, insurance proceeds shall be spplied t�restorxtlon or repair af th�
<br /> Propecty daJnaged,if the restoradon ar rtpxir is economlcally feasible and Lender's secudty is not les,s�ned. If the restaration or
<br /> , : repair is not economtcully feasible ar Lender's sec:urity would be lessened,the Iasurance proc,eeds shall be applied ta the�ums
<br /> r secuted by this Secuzity Instntmeat, whether or aat then due, with nny excess paid to Borrower.lf Borruwer abandans the
<br /> � Property,ar dces uai answer within 30 days a nodce from Lender that thc insurance carrier has offered to setde a claim, then
<br /> I.ender mtty collect the insurance proceeds. Ixnsler may use the proceeds to repair or reswre the Pcoperty or to pay sums
<br /> secured by this Security Iastrument, whether or not dien due.The 30-day Pe a�n o�f�rgoceedset�rinci�a1 shall not extend or
<br /> Ualess L,ender and Borruwer otherwise agree iu writing, any app p P P
<br /> t' postpone the due date of the monthly paymeuts refened to in paragraphs 1 aad 2 or change the amount of the payments. If
<br /> ��� under pa[agraph 21 the Propeccy is acquired by Ixnder, Bonower's right to any insurance policies and ptoceeds resuldng from
<br /> damase to We Property pdor ro the acqutsition shall pass to Lender to the extent of the sutas secured by this Security Instniment
<br /> �Q immediately prior to the acqutsition.
<br /> �' 6. Occupancy,Preservatton,Maintenance and Protedion of tt�e Property; Borrower's Loan Appltcatlon;Leasehuld�•
<br /> Borrowet shall occupy, establish,and use the Property as Borrower's pt3ncipal residence within siary days after the execudon of
<br /> � �• •�. thia Secudty Instrument and shall wndnue to occupy the Property as Bonower's prtncipal residena:for at least one year after
<br /> the date of occupancy, unless L.ead�r otherwise agrees in writiag, whicb consent shall not be unreasonably wlthheld, or unless
<br /> extenua6ng circumstances exist which are beyond Borrower's control. Bonower shall not destroy, damage ur impair the
<br />_ �� Propetry, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> � acdon or proceediag, whether civil or crlminal,is begun that in Lender's good faith judguient could nsult in forfelture of the
<br /> Properry or otherwise materially impair the lien creaced by this Security Instrument or Lender's security ittterest. Borrower may
<br /> cure such a default and reinstate,as provlded in para3raph I8,by causing the acdon or proceeding to be dismissecl with a ruling
<br /> " �I, in i.ender's eoad fatth decerminadon, precludes forfeiture of the Borrower's interest in the Property or other material
<br /> impairment of the lien created by this Security Instrument or Lender's securiry inseresi. Burn,wer d�ail also br. In deF«uli �f
<br /> ` Bonower. during the loan applicadon process.�ave materlally false or inaccurate informadon or statements W Lender(or failed
<br />— to provide L.ender with any matedal informadon)in connection with the loan evidenced by tlie Note,including,but ctot limited
<br /> w,repnsentation4 concerninB Borrower's accupancy of the Property as a principal resideace. If this Security Iasmiment is on a
<br /> - leasehald. Borrower shall comply with all the provisions of the lease. If Borrower acquires fa tide W the Property, the
<br /> leasehold and the fee tide Shall not merge unless L.ender agrees to the uierger In wridag.
<br /> • 7.Protect[on of Lender's Ri�hts in the Property.If Bonower fails to perform the covenants ond agrcements contained in
<br /> " ' �• �� tlils Security Insmiment, or then is a legal proceedtng Q�at may significantly affect Lender's rlgbts in the Property (such as a
<br /> - proceeding in bankruptcy,probate. for condemnadon or forfeiture or to enforce laws or reguladonv). then I.ender may do and
<br /> pay for whatever is necessury ca protect the value of the Property and Lender's rights in the Property. Lender's ucdons may
<br /> ' i�lude paying any sums secured by a lien wUich has priority over tkns Securiry Insmiment,appearinA in court, paying
<br />- �� � �. � reasonable attorneys' fees aad enrering on the Property to make repairs. Although I.ender may take acdoa under thiR paraBrAPb.
<br /> " 7,L.ender doe.a not have to do so.
<br /> - Any amounts disbursed by Lender under this paragcaph 7 shall become additional debt of Bonower secured by this
<br /> Securlry Insmuneut. Unless Borrower und Lender agree v��ther terms of payment, these amounts shall bear interest fro�the
<br /> ,. date of disbursement at the Note rate and sball be payable, with fntenst, npon nodce from Leuder to Bonower requssdng
<br /> , payment.
<br /> '� S.Mortgage Incurence. If Lender r�quired mortgage insurance as n condition of making the loan secured by this Security
<br /> . ' : � � Instcument, Honower shall pay the premiums required to maintain the mortgage insurance in effxt. If� for any reason, the
<br /> � " mortgage insurance coverage required by Lender lapses or ceases to be in effect, Bonower shall pay ch�pnmiums requind to
<br /> ; ,� obtain eoverage substantially equivalent to the mortgage insurance previausly in effect,at a cost substantially equivalent to the
<br /> cost to Sorrower of the mortgage insurance previously iu effect, ftom an alternate mortgage insiuer approved by Lender. Tf
<br /> ? subscantially eyuivalent mortgage insurance coverage is not avai la b le, Borro w e r s h a l l p a y t o L e n d e r e a c h m o n t h a s u m e q u a l t o
<br /> f one-twelfth of tbe yearly mortgage insurance premium beiag paid by Bonower when the insurance coverage lapsed or ceased to
<br /> �.. be in effect.Lxnder will accept,use anci retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> . Form 3���
<br /> ' � �•BRINE)io2tsi.oz Pp�3 of 0 u+iur
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