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<br /> S. Hu•wrd or 1'ra�x�rty Insurunce. Borrowcr shall kcep thc i►nprovenunts now cxistins on c�rcuftcr crcctcd cm thc _
<br /> ` Property insurcd uguinst Ic�ss by fire, huzards includcci within the tcrm "extendcd covcragc" and any othcr h:u.ards, inciuding
<br /> .. flaods or floodin�, f'ar which L.c:ndcr reyuires insuranrc.This insurnncc yhull Nc maintuincd in thc,unc�unts and for thc periods _
<br /> .•._.� thnt I.cndcr requires. The insurancc currier praviding thc insuruncc shall bc cho+cn by Rurruwcr+ubjcc� tu L�ndcr'ti apprnval �_
<br /> which shull not bc unrer.sonably withheld. If Bc�rrnwer fuils io maintain covcrugc di�srribed abovc, I.cndcr�nuy, at Lender's
<br /> • �• option,obtain covcrage to protect Lender's nghts in the Praperty in arcordunce with paragruph 7.
<br /> AU insurunce policies nnd rencwals shall be acceptable to Lender and shull include u 4tandnrd nwrtguge cluuse. Lender
<br /> �;,• . '� shall havc the right to hald thc policics und renewals. If Lcndcr requires,Borrower shall prompUy give to L.cndcr aU reccipts of
<br /> . • ;� paid premiums und renewal notices. In the event of loss,Borrower shall give prompt notice to ehc insurance currier und Lender.
<br /> �� • l.ender may makc proaf of loss if not mude pramptly hy Borrawcr. —
<br /> Unletis Lender and Borrowcr othcrwise ugree in writing.insurancc proceeds shaU be applicd to retitorution or repuir uf the
<br /> � Property dumaged,if the restoration or repair is economically(easible and Lender's security is nc�t lessened. If thc restoratian or
<br /> rcpair is not economically feasiblc or Lender's security would be Icssened, thc insurancc procceds shaU be applied to the sums
<br /> secured by this Securiry Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandcros the
<br /> - � �„ Properry, or does not answer within 3(J days a natice from Lender that the insurunce carr.er has offered to setde a claim,ihen
<br /> ' � • Lender may eollect the insuranee proceeds. Lender may use the proceeds to repair or restore the Propeny or to pay wms
<br />- secured by this Security Intitrument, whether or not then duc.The 30-day period will begin when the notice is given.
<br /> � �� Unless Lender and Borrower otherwise agree in writing, any application of proceeds t� principal shall not extend or
<br /> � post�one the duc datc of thc montlily payments refcrrcd to in para�raphs I and 2 or changc thc umount of the puyments. If —
<br /> •• under paragraph 21 the Property is ucquired by Lender. Borrower's right t�any insurunce policies und proceeds resulting finm _
<br /> � ;! . damage to the Property prior to the acquisition shull pass to Lender to the extent of the sums secured by this Security Ins[rument
<br />- �. � immediately prior to the acyuisition.
<br /> _ ' 6.Occupancy, Preservntic�n,MAintenance and Protectlon of the Property; Borro�ver's Loan Application;l.easeholds.
<br /> Borrrnver shall occupy,r.st�blish,and use the Property as Borrowcr's principul residence within sixty days after the execution of
<br /> , ` this Security Instrument and shull continue to nccupy the Property as Borrower's principal residence for at leust one yearafter
<br /> the date of occupuncy, unless Lender otherwise ugrees in writing,which consent shull not be unreasonubly withheld, or unless
<br /> � � excenuatine cirrumstances exist which are beyond Borrower's control. Borrower shall not d�stroy, d:unnge or impair the
<br /> �'.''� ' . Property, ullow thc Properry to dctcrioratc, or commit watitc on the Property. Borr�wer shall be in dcf'autt if any tortciture
<br /> _ � uction or proceedin�, whether civil ar criminal, is begun that in L.ender's gaod faith judgment rould result in forfeiture of the
<br /> ° Property or otherwise materially impair the lien crcatui by this Security Instrument or L.ender's security interest. Borrowermay
<br />__r��;,�,;,. cure such a default and reinstate,as previded in paru�ruph 18,by causing the action or pruceeding to be dismissed with a mling
<br /> ' ° � that, in Lcnder's good faith deterntinatian, prccludes forfeiturc of thc BorroHCr's intcrest in t6e P�u�:ity or other rnaterial
<br />_ �� �� �a.' impuirment of the lien created by this Sccuriry Instrumcnt or Lcnder's security interest. Borc�wcr shall also be in defuult if
<br /> =��,:._::._. .
<br /> -,^-�-* -�� `�� Borrower,during thc loan application process,gave materially false or inuccuratc information or statements to Lcndcr(or failed
<br /> `'�''~ ' to provide Lender with any material information)in connection with the loan e��idence.d by the Note, including,but not limited
<br /> " �` to, representations concerning Borro�ver's occupancy of the Property ar a principal residence. If this Security Instrument ison a
<br /> . Icasehold, Borrower shall comply with all the provisions of the Ic•rse. lf Borrower acyuires fce title to the Property, the
<br /> _;..:,;�.";.•,';; leasehold and the fec tidc�:hall not merge unlcss Lcnder agti•ccs to thc merger in writinb.
<br /> -->..�; --�.' 7.Proteetion of Ixnder's Rights In the Property.If Borrower fails to perform the covenants and agrecments contained in
<br /> --- '"�"•''"` this Securiry lnswment, or there is a legal proceeding that may significantly uffect Lender's rights in the Property (such as u
<br /> :-�-'�f?`�� ��� procccding in bankruptcy, probutc, for condemnation or forfciturc or to enforcc laws or rcgulations), then Lender may do and
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<br /> • ' : pay for whutevcr is neccssary w protect the value of dic Property und Lendcr's rights in the Property. Lender's actions may
<br /> '`� include paying �ny swns scrured by a licn which has priority uver this Security Instrument, appeuring in court, payinS
<br /> . _a rcasonublc attorncys' fces und entcring on thc Property to makc repairs. Although Lcndcr may take action under this paragraph
<br /> °�1� 7,Lendcr docs nat huvc to do�o.
<br />- .. , Any amounts disbursecl by L.endcr under this paragraph 7 tihall become additional dcbt of Borrowcr secured by this
<br /> � ;.• Security Instrumcnt. Unletis Rorrowcr and L.cndcr agrce to other tcrms of payment, thesc amounts shall bcar interest frum thc
<br /> � ' ,� datc nf disbursemcnt at thc Nc�te ratc and shall be payable. with intcrest, upon noti�c from Lender to Borrawcr reyuesting
<br /> • .. Y-. paymcnt.
<br /> • !�: 8. Mort�age Insurance. If l.cnder reyuircd mortguge insurance as.i canditian of making the loan securcd by this 5ecurity
<br /> ' Instrument. Barrowcr shall pay thc prcmiums rcyuircd to maintain thc mortgugc insurancc in effect. If, f'or any rcason, thc
<br /> � mortgagc insurancc cc�vcragc rcquired by Lcndcr lapscs or rcascs to bc in cffcct. Borrowcr shall pay thc premiums rcquircd to
<br /> ,� obtain covcragc substantiully cyuivalcnt to thc mortgagc insuruncc prcviously in cffect,at a cost substantially cquivulcnt�o thc
<br /> � cost to Borrowrr of'thc niortgage insuranre previi�usly in effrct, from ar1 alternate mortgage insurer approved by L.end�r. if -
<br /> � tiubstantially cyuivalenl mortgugc insurancc c��vcragc is nc�t availablc. Bcirrciwcr shidl pay to Lcndcr cach month a�sum cyual to _
<br /> � unc-twclfth��f'thc yearly �iu�rt�agc insurancc premium hcing paid hy Borruwer when the insurance covcragc Ixpscd or ccascd to =
<br /> � j be in ef'fect. LenJer will accept, usc and retain thr�e paymcnts a� a Ic�s+ rescrve in lieu af martgage insurance. l.oss reserve
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