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<br /> 11 5, iluaurd ur Pruperty Insucuncc. Dorrowcr shall kccp thc improvcmcros nuw cxititinF c�n c�rcaftcr crectcd an thc i ��-
<br /> Properry insurctl agninst lass by f"ttc, hazards iticludcd within thc tcrm "cxtcndcd covcragc' and any othcr hn���rds, including
<br /> .,.�--�'""' floods or flaoding. far which Lcndcr rcquires lnsur�ncc, This insurancc shall bc maintaincd in thc amounts ar►d for thc periods
<br /> -� ••"'� that Lcndcr requires.Thc insur.lncc carricr providing the insurancc shall be cliosen by Borrower subjcct to I.cnder's approval ;,:
<br /> which shall not b� unreasonably withheld. [f Barrower fails to maintain covcrage descrtbcd abovc, Lender may, at Lcndcr's� ,.i;-
<br /> aption,obtain coverage to protect l.endcr's rights in the Properry in accordancc with paragraph 7, � --- ____
<br /> ' All insur�ncc policics and rene�vals sliall be ncceptablc to Lcnder and shall include a standard mongage clause. L.ender ___
<br /> shall have the right to hold thc policics nnd renewals. If Lender requires, Borrower shall promptly give to Lender all reccipts a�
<br /> . ' paid premiums and renewal notices. In the event of lass, 8orcower shall give prompt notice io the insurance canier and Lender�
<br /> l.cndcr may make proof of loss if not made promptly by Bonowcr. _
<br /> Unless Lender and Borrowcr otherwise agrce in writing, insurance procecds shall be applicd to restoration or repair of th� `
<br /> �• Property damaged. if the restoratfon or repair is economically feasible and Lender's security is not lessened. If the restoration ot� �
<br /> . repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums �
<br /> secured by inis Security lnstrument, whether or not then due, wiQ� su�y excess paid to Borrower. If Horra�ver abandons the � _- __..
<br /> ` Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then
<br /> I.ender may catlect the insurance proceeds. Lender may use the procecds to repair or restore the Property or to pay sums �
<br /> �t sccurcd by this Security[nstrument,�vhether or not then due.The 30-day period will begin when the notice is given. �'_
<br /> . �f Unless I.ender and Borrower otherwise agree in writing, any application of proceeds to principal shall not eatend or
<br /> postpone the due date of the monthly payments refened to in paragraphs 1 and 2 or change�he amount of the payments. If �_
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting fram �,
<br /> • �� dnmage to the Propeay prior to the acquisition shall pass to L,ender to the extent of the sums secured by this Sccurity Instrument _
<br /> � immediately prior to the acquisition.
<br /> .. � 6.Occupancy,Preservat[on,Maintenance and Protection of the Property;Borrower's Loan Application; Leaseholds. =
<br /> 4 Borrower shall occupy, es[abl{sh, and use the Propeny as Borrower's principal residence within sixty days after the execution of
<br /> - - ?''� this Securiry tnstrument and sha3I continuC tu uu;upy tY�c Froperty as L'orra�::er's pzir.ciga�tssid�nce fer at lP�ct c,ne year after F
<br /> � the date of occupancy, unless Lender otherwise agrees in writing, which cansent shall not be unreasonably withheld, or unless ��-
<br /> � extenuating circumstances exisc which are beyond Borrower's control. Bonower shall not destroy, damage or impair the '
<br /> Property, ailow the Property to deterioratc, or commit waste on the Property. Bonower shaU be in default if uny forfeiturc
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<br /> action or procecding, whcther civil or criminal, is begun that in Lender's good f�ith judgment could result in forfeiture of the _
<br /> Property or otherwise materially impair the lien crcated by this Security Instrument or Lender's security interest. Bonower may
<br /> � cure such a default and reinstate,as provided in paragraph 18,by causing�he action or proceeding to be dismissed with a ruling
<br /> � that. in L.ender's good faith determination, precludes forfeiture of the Borrower's interest in the Propeny or other material
<br /> fi impairment of the lien created by this Sccurity Instrumcnt or L.endcr's security intcrest.Borrower shall also be in default if
<br /> Borrower,during the loan a�plication proccss,gave materially false or inaccurate information or statements to Lender(or failed
<br /> to provide Lender with any material information)in connectiun with the loan evidenced by the Note, including,but not limited
<br /> to, representations concerning Borrower's occupancy of the Propeny as a principal residence. If this Security Instrument is on a
<br /> � , lcasehold, Bonower shall comply with all thc provisions of tlie lease. If Borrower acquires fee title ta the Property, the
<br /> lsasehold and the fee title shall not mcrge unless l.ender agrees to the rnerger in writing.
<br /> . 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in �
<br />�. this Security Instrument, or there is a Iegal praceeding that may significantly affect Lender's rights in the Property(such as a -
<br /> ' proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or rcpulations), then I.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property :uid Lender's rights in the PropeiYy. Lender's actions may �- '
<br />� . . include paying any sums secured by a lien which has priority ovar this Security Inswrnent, appearing in court, paying ��°_'
<br />�• rcasonable atiomeys' fees and entering on the Propeny to make repairs. Although Lender may take action under this paragraph —
<br /> y 7, L.ender does not have to do so. _____
<br /> _ ' Any amounts disbursed by L.ender under this paragraph 7 shall Uecome additional debt of Borrower secuted by this
<br /> Security Instrument. Unlcss Borrower and Lender agrce to othcr terms of payment, these amounts shall bear interest from the
<br /> date of disburscment at the Notc ratc and shall be payable, with intcrest, upon notice frorn Lender to Borrower requesting ;•,--
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<br /> - paymcnt.
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<br /> 8. Morigage Insurnnce. If Lender required morigage insurance as a condition of making the loan secured by this Securiry •_,.s;
<br /> - lnstrument, Botrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the �
<br /> mortgage insuru►ce coverage required by Lender lapses or ccases to be in effect,Borrower shall pay the premiums required to
<br /> obtain coveragc substantially cyuivalcnt to thc mortgagc insurance previously in effect, at a cost substantially equivalent to thc
<br /> � cost to Borro�ver of the mortgage insurance previously in effect, from an alternate mongage insurcr approved by L.ender. If -
<br /> subst�ntially equivalent mortgage insurance coveragc is not available, Bonower shall pay io L.ender each month a sum equ:il�o
<br /> one-twelfth ot�he yearly mortgage insuranee premium being paid by Borrower when the insurance coverage lapsed or ceased to ,
<br /> - j Ue in effect. Lender will acccp[, use and retain these payments as a loss rescrve in lieu o( mortgage insurance. Loss reserve
<br /> i Form 302��0
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<br /> � ��6VINE1 isnzi.o, va0o 3 01 6 i�unais:�/C� - _ _
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