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<br /> . � 98-- i�.z.�3
<br /> S.HA�rd or Praperty Insurpnce. I�orrowcr shell kccp thc improvemcnts now exiswng on c�reaf�cr crcctcd on thc Property
<br /> insured against loss by fire, hazards included within the tcrtn °extcnded covcragc" and any ather ha��rds,including cloads or
<br /> flooding.for which Lender rcquires insurancc.This insurancc shall be maintaincd in the amounts and tor thc periods that I.cndcr
<br /> requires. 1'he lnsurance catricr providing the insurancc shall bc choscn by Borrower subje,�:t w Lcndcr's approval which shall nat
<br /> bc unreasonably withheld. If Borrawer fails to maintain covcrage describcd above, Lcndcr may. at Lcndcr's option, obtaln
<br /> coverage to protect Le.nder's rights in the Property in accordnnce with ptut�gcaph 7.
<br /> All insurance policies and renewals shall be acceptablc to Lcnder artd shall include a standa�rd mangagc cluusc,I..cnder shall
<br /> have the right to hold the policie:s and renewals. If Lender rec�uires,Horrower shall prompily give to Lender all receipts oF pald
<br /> premiums and renewal noticcs.In the cvent of loss,Boaowcr shall give prompt notice to thc insurance carricr and Lender.Lendu '
<br /> mny maice proof of loss if not mudc promptly by Borrowcr. �
<br /> Unless L.ender and Borrowcr otherwisc agrcc in writing, insurance procceds shall bc applicd to restoration or rcpair of the
<br /> Property damageci,if the restoration or repair is economically feasible and I,cndcr's security is not lcsscned.If thc restoradon or
<br /> repair is not economically fe.asible or Lendc�'s sccurity would be lessened,ihe insurnnce proce,eds shali be applicd to the sums
<br /> secured by this Security Instrument, whether or not then due, with any exccss paid tn Borrowcr. If Borrawcr abandons the
<br /> Property,or dces not answer within 30 days a nodce from Lcndcr that thc insurancc cnrricr has offcred to setde a claim,then
<br /> Lcnder may collecl lhe insurance procccds.Lcrtder may usc:the proceeds to rcpair or restorc lhe Property or to pay sums sccured
<br /> by this Security Instrument,whether or not then due.'ITie 3Q•day period will begin when the nodce is given.
<br /> Unless Lender and Horrower otherwisc agree in writing,any application of proceeds to principal sheA not extend or posq�one
<br /> the due dAtc of thc monthly payments reFcncd to in paragraphs 1 and 2 or change thc amount of thc payments.If under paragraph
<br /> 21 the Properly is acquired by Lender,Borrower's right to any inswance policies and procee.ds resulting from damage to the
<br /> �'roperty prior to the acquisition shall pa.es to Lender to the extent of thc sums secured by�his Security Insirument immediately _
<br />- prior to the acquisidon.
<br /> 6.Occupancy,l'reservAtion,MaintenAact and Protection of the Property; Borrower's I.onn Applics�tbn;LeASChoWs.
<br />' Borrower shall occupy,establish,and use the Property as Borrower's principal residcnce within six[y days after ihe execudon of
<br />� Ihis Securiry Instrument and shall continuc to occupy the Property as Borrower's princi�al residence fa at least one year after the
<br /> date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which ere beyond Bonower's conuol.Boaower shall not destroy,damage or impair the Propeity,
<br /> allow the Proputy to deteriorate, or commit waste on the Property, Bonower shall be in dcfeult i[any forfeiturc ecGon or
<br />• procerding,whether civil or criminal,is begun that in I.cnder's gaxl faith judgment could result in fodeiture of the Proputy or
<br /> otherwise materially impair the lien created by this Security Instrumant or Lender's�ecurity interes�Borrower may cure such a
<br /> default and reinstate, as provided in paragraph 18, by causing the acdon or proce.eding to be disrnissed with a ruling that,in
<br /> Lender's aood faith dcterminadon,prcxludes forfeiturc of thc Borrower's intcrest in the Property or ��her matcrial impaument of
<br /> the lien created by this�ecurity Instrumcnt or Lcnder's sccurity interesG Borrower shall also be in default if Borrower,during tho
<br /> loan applicalion process,gave matarially false or inaccurate information or statements to I.ender(or failed to provide Lender with
<br /> any matuial informadon) in connccdon with the loan evidcnccd by thc Note, including,but not limitrd to, representations
<br /> conceming Borrower's occupancy of the Praperty es a principal residence.If this Sccurity Instrument is on e leaseh�ld,Borcower
<br /> shall comply with all the provisions of thc Icase.If Bormwcr acquires fec atic to thc Propeny,thc leasehold and the fee dde shall
<br /> not mergc unless Lender agrecs to the mcrger in writing.
<br /> 7.Protectbn of Lender'a Rights in the I'roperty. If Borrower feils to perform the covenan�s and agreements contained in
<br /> this Security Instru�cnt,or there is n logal procecding that may signi�candy af'fect Lenda's rights in the PropeRy (such ag a
<br /> proceeding in bankn:ptcy,probate,for condcmnation or forfeiture oc to enforce laws or regulatian�), tJKn Lender may do end pay
<br /> for whatever is necessary to protect the value of 1he Property and Lcnder's rights in the Property,Lender's actions may includo
<br /> paying any sums secured by a lien which has prioriry over this Security Inswment, appearing in court, paying reasonable
<br /> auomeys'fecs and cntering on the Property to make repairs.Alth�ugh Lcndcr may talcc action undu this paragraph 7,Luidu
<br /> does not have to do so.
<br /> My amounts disbursui by Lcnder undcr this paragraph 7 shall bccomc addiaonal debt of Borcowcr secured by tt►is Sxucity
<br /> InswmenG Unless Bonower and L.cndcr ugrcc to othcr tcrms of paymcnt, thcse s�mountc shall bear intcrest from the date of
<br /> disbursement at the Nota rate ancf shall bc payublc,with interest,upon nodcc from L.cndee to Borrower requesting paymenG
<br /> 8.Mortgwge Insuranca If Lcndcr requacd mongaga insuruncc as a condition of making the loan secured by this Sxurity
<br /> Instrument, Horrower shell puy the premiums required to maintain the mortgage insurance in eFfect. If, for any reason, the
<br /> mongsge insurance coverage required by Lendec lapses or eeases to be in effcet, Borrowu shall pay ihe premiums required io
<br /> obtain covcragc substantially cquivalent W thc mortgegc insurancc prcviously in effcet,at e cast substantially cquivalent to the
<br /> cost to Borcower of the mortgage insurancc previously in effect, from an altemate mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is not available,Boaower shall pay w Lender each month a sum equal to
<br />_ one-twelflh of the ycarly mortgage insurance prcmium bcing paid by Bonowcr when thc insurancc wverage lapsed or ccascd to
<br /> be in effect. Lender will accept, use and retain these paymenu es a loss reserve in lieu of mortguge insurance. Loss reserve
<br /> Form 30 �100
<br />_ �•6R(NE)�o2�2�.0� r.00soie i�wau:�.pl�
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