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<br /> S.Hwzard orr Property InsurAnce. Borrowcr shall kccp thc improvcmcnts now exisung on c�rcafter crectcd on thc Property . �_
<br /> insurcd against loss by firc,hazards includcd within the term "cxtendcd c�yeragc" and any othcr hazards,including floods or
<br /> flaading,for which Lcnder rcquires insurancc.This insurance shell be malntalned in the amounts and for the perlods that Lendcr --
<br /> � requires.The insurancc carrier providin6 the insurance shall be chosen by Bonower subject ta I.ender's approval which shall not�
<br /> , bc unreasonably wifhheid. If Bortower fails to maintein coverage describecl abovc, Lcnder msy, at Lcnder's opuon, obtair► ! --
<br /> ` ,�... , cavcregc w protcct I.cnder's dghts in thc Property in accordancc wlth paragraph 7. '� _.
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<br /> . •+ All insurance pollcies and renewals shall be acceptabie to Lender and shall include a stenderd mortgage clause.Lcnder shallr.► __.
<br /> have the dght to hold the poUcies end renewals.If Lender rcquires, Horrower shatl prompdy give to Lender all receipts of paid� .
<br /> premiums and rencwal noaces. In thc cvent of loss,Borrowcr shall givc prompt nodcc to thc insurancc carrier and Lcnder.Lende� -
<br /> may makc proof of loss if not mada prompdy by Borrowcr. -
<br /> UNess I.cndcr and Borrower otherwisc agrcc in wridng,insurance procccds shell be applied w restoration or repair of th�
<br /> Property damagcd,if the restoradon or rcpair is economically fcastble and L.ender's securiry is not tessened.If the restoration o�
<br /> ' repair is not economically feasible or Lender's securlry would be lessened,the insurance proceeds shall ba applied to the sums
<br /> securetl by thls Security Inswmeni, whether or not then due, with any excess paid to Borrower. If Aorrower abandons the
<br /> � Property,or does not answer within 30 days a notice from L.ender that the insurance carrier has offereci to seule a claim,then
<br /> . Lender may callect the insurence proceeds.Lender may use the proceeds to repair or restore the Property or to pay sums secured
<br /> by thi.9 Securiry Insmiment,whethar or not then due.The 30-day period wiU begin when the nouce is given. __`
<br /> • Unless Lender and Bonower otherwise agree in writing,any application of proceeds to principal shall not extend or postpone �;
<br /> " the duc datc of the monthly payments refermd to in paragraphs 1 and 2 or changc�hc amount of the payments.If under paragraph �
<br /> , 21 the Property is acquired by Lcnder, Borrower's right to any insurance policics and proceeds resulting from damage to the _
<br /> -.� Property prior to the acquisirion shall pass to Lender to the extent of the sums secured by this Security Inst�ument immediately =-
<br /> prior to the acquisidon. -
<br /> � 6.Occupancy�Preservation,Matntenence and Protection of the Property; Borrower's Loan Applkation;Leaseholds.
<br /> Bonower shall occupy,estab8sh,and use the Property as BoiTOwer's principal residence within sixty days after the execution of
<br /> this Securlty Instrument and shaU continue to accupy the Property as Horrower's principal residence for at least one year after the
<br /> . � date of c�ccupancy, unless Lender otherwise agrees in wridng, which consent shall not be unreasonably wlthheld, or unless _
<br /> extenuating circumstences exist which are bcy�nd Borrower's control. Dorrower shall not destroy,damage or impair the Property,
<br /> - allow thc Property to deteriorate, or wmmit waste on the Property. Bonower shall bc in default if any forfelture acdon or _
<br /> �. proceeding,whether civil or criminal,is begun that in Lender's good faith judgment wuld result in forfeiWre of the Property or __
<br /> +� athcrwise materially impair the lien created by this Seciuity Insirument or L,ender's security interest Bonowcr may cure such u
<br /> � defnult and reinstate,as provided in paragraph 18, by causing the acdon or proceeding to be dismissed with a ruling that,in �
<br /> I.ender's goad faith determinatian,precludes forfeiuue of the Borrowe*'s interest in the Property or othcr matcrial impairment of
<br /> �' the lien created by this Securiry Insuument or Lender's security interes�Borrower shall also bc in default if Bormwer,during thc
<br /> loan appllcation process,gave materially felse or inaacurate informadon or statcments to L.ender(or failed to provide Lender with _
<br /> �: any matedul informadon) in connecdon with the loan evidenced by the Note, including, but not limited to, represeatallons
<br /> � conceming Borrower's occupancy of the Property as a principal residence.If this Securiry Instrument is on a leasehold,Borrower
<br /> „ shall comply with aU the provisions of the leasc.If BoROwcr acquires fee ddc to thc Propeny.the lcasehold and the fcc UUo shall _
<br /> � not merge unless Lendcr agroess w thc merger in writing.
<br /> 7.Protection ot Lender's Itights in the P'roperty. If BoROwcr fails to perform thc covenan�s end agrccmcnts containcd in
<br /> this Security Inswment, or there is a Iegal procoeding that may signif`icandy affect Lender's rights in the Property (such as a
<br /> procceding in bsnlvuptcy,probate,for condemnadon or fodeirore or to enforce Iaws or regulaiions).then L.ender may do and pay
<br /> for whatever is necessary to proG�t the valuc of the Property and Lcnder's rights in the Property. Lender's acdons may include =
<br /> pnying any sums secured by a lien which has priority over this Socurity Instrument, appearing in court, paying reasonable =
<br /> ' auumoys' fces and entering on the Property to meke repairs.Although Lcnder may take action under this paragraph 7.Lender =
<br /> does not have to do so. _"�
<br /> � Any amounts disbursed by Lender undcr this paragraph 7 shall become addiaonal debt of Borrowcr sccured by ihis Security ��
<br />` Instrument Unless Borrower and Lender agree to othcr tcrms of payment,these amountc shall bear intecest from thc date of —_
<br /> ' .• disbursement at the Note rate and shall be payable,with interest,upo�no6ce from Lcnder n,o Bc+irowEr requcsdng paymen� `-�-
<br /> 8.Mortgage Intsurance. If Lender required monguge insurance as a condition af making the loan secured by this Securiry =
<br /> Instrument, Borrower shall pay the premiums required to meintain the mongage insurance iii effsct. If, for any reason, the
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