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<br /> S. Hsz�rd or Property Insur�nce. Horrower shall k�ep the improvaments now oxieting or hereafter erected on
<br /> tha Property�nsured aga:nat lose by fire,haznrda included within the term "extended covarage' end any otiier hazards,
<br /> includinb floods ar flooding, for which [.endar requires insuranca. "Phis insurance she11 be maintained in the emounte „
<br /> und for the periads thac I,ender require.v. The insurance carrier providing the insurance shall be chosen by Borrower . __
<br /> � . subject to I..ender'e approval which shall not be unreasonably withheld.If Borrower fails to maintain coverage described •
<br /> � above, Lendar may, at Len3er e option,obtain coverage to protect Lender's rights in the Property in accordance with : �� '. _
<br /> .` .'"Y � paragraph 7, .
<br /> '�"i All insuranca policies and renewala ehall be acceptable to Lender and ahall includa x standard mortgage clause. , -��.,a:`
<br /> ' I,ender shall have the right to hold the policies and renewals. If I.ender requires, Borrower ahall premptly give to . �:"
<br /> Lender all receipts of paid premiums and renewal noticxs. In the event of loss, Borrower shaU give prompt notice to the �'';ri"
<br /> insurance careier and I.ender. I,ender may make proof of loss if not made promptly by Borrower. -�=��'=-•� �
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<br /> (.Jnless Lender and Borrower otherwise agree in writing,inaurance proceeds shall be applied to restoretion or repair , �;y_:-�-
<br /> of the Pruperty damaged,if the restocation or ropair ia economically feasible and Lender's se�urity is not lessened.If the =
<br /> restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be __
<br /> applied to the sums secured by this Security Inatrument, whether or not then due, with eny excess paid to Sorrower.lf -
<br /> Botto��er abandone the Property,or does not answer within 30 daya a notice from I,ender that the insurance carrier has •�i
<br /> offared to settle a claim, then Lender may collect the inaurance proceede. L.ender may use the proceeds to repair or =5`,;�ns�<<
<br /> resture the Property or to pay sums secured by this Security Instrument,whether or not then due_The 30'day period wiU '"''""�
<br /> begin when the notice is given. `_',�':;°
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceede to principal ahall not extend or •,-1::��:,
<br /> postpone the due date of the monthly payments referred to in paragraphs l and 2 or change the amount of the paymenta. ��s;"��•�
<br /> � If under paragraph 21 tha Property is acquired by Lender, Borrower'a right to any ineurance policies and praceeda K �+%`.�:.
<br /> ':� ,,.
<br /> resu lting from damag e t o t h e P r o p e rt y pr ior to the ac quisition shall pass to Lender to the extent of the Rums secured by �„
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<br /> -- thie Security In»trument immediately pnor to the acquisition. _�:�-_
<br /> 6.Occupancy,Preservatiou,Mainteaance and Protection of the Proporty;Horrower's Loan AppliaatIon; ;�_�
<br /> Le�soholds.Borrower shall occupy,establish,and use the Property es Borrower's principal residence within aixty days ��
<br /> � after the execution of thie Security Instrument and ahall cont�nue to occupy the Property as Borrower's principal ,.��a-
<br /> ,�.; residence for at least one year after the date of occupancy, unless Lender otherwisa agrees in writing,which consent ahall
<br /> not be unreasonably withheld,or unless extenuating circuanatances exist which are beyond Bonower's control.Borrotver ��a�
<br />-� -_� bLali �wt dc��coy,damage or iss:psir the Pre�rty, alloW t..hP Pr��erty u�deteriorate.or commit waste on the Property. -- -=
<br /> Borcower shall be iii default if any forfeiture action or proceeding, whether civil or criminal,is begun that in Lender's `;'
<br /> t� good faith judgment could result in forfeiture of the Property or otherwise materiaUy impair the lien created by this !� _�
<br /> ' Security Inatrument or Lender'a security interest. Borrower may cure auch a default and reinstata, as provided in ��"�-
<br /> ' � pacagraph 18, by causing the action or proceeding to be dismissed with a ruling that, in I.ender'c gnod faith __ �`�
<br /> " determination. precludea forfeiture of the Borrower's interest in the Property or other material impairment of the lien ;--�-�
<br /> ' created by this Security Inatrument or Lender's security interest.Borrower shall also be in default if Borrower, during �
<br /> �. the loan applicetion process, gave materially false or inaccurate information or statements to Lender (or 4ailed to ��,
<br /> � provide Lender with any material information)in connection with the loan evidenced by the Note, including, but not
<br /> � limited to,representations concerning Borroaer's occupancy of the Property as a principal residence. If this Security _
<br /> y�� Instrumentie on n leasehold, Borrower shall comply with all the provisions of the lease.If Borrower acquires fee title to o`::°
<br /> �. the Pro rt,the leasehold and the fee title shall not mer e unless Lender a rees to the mer er in writin . � -
<br /> Pe Y g g 8 B t. ----�•-
<br /> :�, 7. Protection of Lender's Rights in the Property.If Bonower fails to pertorm the covenanta and agreementa t-.
<br /> „ ,,,, contained in this Security Instrument,or there is a legal proceeding that may significantly aftect Lender's righta in the �.
<br /> Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or .
<br /> ; regulations),thQn Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's
<br /> rights in the Property. I.ender's actions may include paying any sums s�cured by a lien which has priority over this
<br /> � Security Inscrument,appearing in court,paying reasoneble attorneys'fees and entering on the Property to make repairs. _
<br /> Although Lender may take action under this paragraph 7, Lender does not have to do so. ___i _
<br /> ' Any amnunta disbursed by Lender under thia paragraph 7 shall become additional debt of Borrower secured by this
<br />_ Security Instrument.Unless Borrower and I,ender agree to other terms of payment,these amounts shall bear interest
<br /> from the date of disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Borrower ;:.�:--
<br /> requesting payment. '���"
<br /> ' � 8. Mortgage Insuranca IP Lender required mortgage insurance as a condition of making the loan secured by this - 'p°'-"`
<br /> Security Instrument,Borrower shall pay the premiuma required to maintein the mortgage insurance in etfect.If,for any ``3� . n�':.
<br /> reasan, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Burrower shall pay the - �-���....���'d�"
<br /> premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost :,,�.:,,;::;��t�.�t ..
<br /> substantially equivalent to the cost to Borruwer of the mort a e insurance reviousl in effect, from an olternate '��°::•-� '
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<br /> mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, ,� � .
<br /> Borrower shall pay to Lender each month a sum equal to one-t�velfth of the yearly mortgage insurance premium being • .
<br /> I paid by Aorrower when the insurance coverage lapsed or ceased to be in effect.Lender will accept, use and retain these
<br /> payments ns a loss reserve in lieti of mortgage insurance. I.oss reserve payments may no longer be required,
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<br /> I Ferm 302!!9/� ••
<br /> I �—fiRMEl�c��:�oi v.o.a or e Initl�le.��
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