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<br /> ,.� 98� �12692
<br /> , S.Hwu�rd ar Property Ineurance. Borrowcr shull kccp thc improvcmcr.GC now c;cisung on c�rcnftcr crcctcci on tha Pr�pcny
<br /> insurcd ageinst loss by firc,har.ards includcd wllhin lhc tcrtn "cxtcndcd c�vcr�gc" ��nd uny a�hcr hnr.ards,including flaxia�r
<br /> flooding,far which l..cndcr rcquires ir�suar�co, 'Ihis insurancc shall bc muintaincd in thc umounG9 and for thc pericxls that Lcndcr
<br /> rcquires.Thc Inxuranc;c curricr provlding ihc insurancc shull bc chas�n by Borrowu �ubjcct w l.cndcr's upprovul which shall not
<br /> bc unrcusonnbly wlthhcid. IF Borrowa fails to muintsin covcrugc dcscribul abovc, Lcndcr may, nt Lcndcr's optian, ahtuin
<br /> covcre�e W protect Lcndcr's rlghts in thaProperty in accordencc with p�:�ph 7,
<br /> All insurancc policics und rencwWs sh�a!I bc ac:ccptablo w Lcndcr und shall includc u stundard martgugc clausc.Lcndcr shall
<br /> hnvc U�c dght w hold thc policica and ru►cw�ls,lf Lcndcr rcquires,Borcowa�hell prompUy givo u�I.cnder all rcccipw oP paid
<br /> prcmiums and rencwul nuuccs.In lhc cvcnt of loss,Iiorrow.r shall givo prompt no�icc lo thc insuruncc curricr and I.cndcr,Lcndcr ,
<br /> may makc proof of loss if na!matia promptAy by Borrowcr.
<br /> Unlcss�.cndcr ond Borrower othcrwisc agrw in wridng, insurancc pr.x:xds shaU bc uppliccl to restorntion ar rcpair of thc
<br /> Propcny damagcd,if thc restoradan or rtps►lr is cconomically fcasiblc nnd Lcnda's sccuri�y is not lcs.scncd.If thc restoratian or
<br /> rcpair is nol a;onomicnlly fca9ible or Lendu's sccurity would be Icsscncd,Ihc insurnncc pracccds shall bc applicd to thc aums
<br /> sr.curcd by this Sccurity Inswmcnt, whcthcr ar not then duc, wi�h eny caccss pald to Bonowcr. !f Barruwcr abandons thc
<br /> Properl.y,or das not answer within 30 ds�ye a nodce t'rom Lender Ihat the insurencc carricr he.v offcred to sculc a claim.�hcn
<br /> l.endcr may wllcct thc insurance procc.cds. Lendu may usc the proccccfs to npair or restorc thc Pcapeny ar w puy sums sccutcci
<br /> by this Sauriry Inswmcnt,whcthu or rat then due.'fhc 30-day puiod will begin when the noticc is givcn.
<br /> Unless I..ender und Borrower otherwise agree in writing,any epplication of procecds to pri�cipel shtill not extend or postpone
<br /> th�duc da�e of the monthly paymcnts refcrrcd to in para�rephs 1 and 2 or changc�h�amount of thc payment�.If undcr paragrnph
<br /> 21 �he Property is acquired by Lender,Bartower's right to any insurance policies and procetds resulting from damt�e W the
<br /> Property priQr to thc acquisition shall pus w Lcndcc ta thc extcnt of thc sums sccurcd by this Sccurlty Inswmc:nt immodia�cly
<br /> prior to the s�cyuisidon.
<br /> 6.Occupancy,Preservation,MwinlenAnce And Protection of the Property; Borrower's LoAn Applieatlon;Le�se6olds.
<br /> Barrowcr shall occupy,cstablish.end usc thc Property as Bormwer's principal arsidence within sixry days afier the cxccution of
<br /> lhis Security Inswment and shall continue W occupy the Property as Bnrcowu's principal residence for at least one year wfter the
<br /> date of occupancy, unless l,endu othawiso agrxs in writing, which consent shall not be unreavonably withheld, a unkss
<br /> extenuating circumstances exist which are beyond Borrowcr's cantrol.Borcc�wer shall not destroy,damage ar impair tir°?mputy,
<br /> allow the Proputy to dcteriocate,or canmit wastc on the Property. Borrawer shall bc in dcfault if any forfciwre xdon or
<br /> proceeding, whetber civil or criminal. is begun that in Lender's good fei�h judgmrnt cauld result in forfcitwe of the Property or
<br /> otherwisc materially impair the licn crealed by this Sxurity Insuument or Lenda's sccurity interest.Borcowcr may cure such a
<br /> default and reins�ate, as provided in pamgcaph 18, by causing thc acdan or proceeding to be dismissed with a ruling that,in
<br /> I.cndu's good faith dctcrmination,precludcs Forfeiture of 1hc Bonowu's intcrest in thc Property or other matcrial impairtnent of
<br /> thc lien crcatcd by this Sccurity Instrument a L.cndcr's sccurity intcrest.Borrowcr shall also bc in default if Borrower.during Ihe
<br /> loan application process,gave matuially false or inaccurate information or sta�ernents to Lender(or failed to provide Lender with
<br /> any mnterial infom►ation) in cannectian with the loan evidenced by the Note,including, but not limited to, npresauntions
<br /> conceming Borcowex's occupancy of t}u F'roperty as a principal msidence. If this Security Insaument is on a kase,liold,Borrower
<br /> shall comply wi�h ali the provisions of ihe lcase.If Bocrower acyuires fcc tiUc to ihe Property,thc lcaschold and the fee dde sfu�ll
<br /> not merge unless I.ender agras to the rtxrger in writing.
<br /> 7.Pratection of Lender's Rlghts i�t6e Property� If Borrowu fails uo perfam[he covenants and agreunents contained in
<br /> this Security Instrument, or Ihere is a kgal pmcoeding that may signiGcantly aftxt Le:nder's rights in the Propaty (such av a
<br /> procoeding in banlm�ptcy,probatc,for ca►demnation or forfeiwre or to enforce Yaws or regulauons),then Leoder mey du and pay
<br /> for whatever is ncxessary to protect thc value of the Property and I.ender's righu in the Property.Lcnda's ections may includc
<br /> paying any sums secured by a lien �xhich has priority over this Security Inswrnent, appearing in court,payinq rcuonable
<br /> auomcys'fees and entcring an thc Property to make repairs.Althuugh Lender may take acdon undcr this paragreph 7,L.endu
<br /> docs not heve to do so.
<br /> Any emouots disbursed by L.ender under ihis parugraph 7 shall bccome addilior�al dcbt of Borrower socur�xi by this Security
<br /> Inswmenl. Unkss Borrower and Lendrr agrac to othcr tccros oF payment,�t►ese amounts shall bcar interest firom thc cfatc of
<br /> disbursc.mcnt at the Note rate and shnll be payable,with interest,upon nopce trom Lcnder to Borrowcr rcqucsting paymen�
<br /> 8.Mortgage Insurance, If Lender required mortgage insunince as a condition ot making the loan se:curcd by this Socurity
<br /> InswmcnG Borrower shul[ pay Ihc prcmiums rcquired ro maintain tha mortt3age insurar►cc in cffecG If, for any rcason,the
<br /> mortgagc insurance covcrage rcquircd by Lcnder lapses or ceases w bc in effr.ct,Borrowcr shall pay the pcemiums required to
<br /> obtain coverage substandally equivalent to the mortgage insurance previously in c�fect, at a cost substantially equivalent to the
<br /> cost to Borrowcr of thc mortgagc insurancc previously in cffcct, from ttn altcmaec mortgagc insurcr approved by I.cnda. If
<br /> substantially equivelent mongage insurance coverage is nos available,Borrower shall pay to Lender each month a sum equal to
<br /> one-twelflh of the yearly monqage insurence premium being paid by Borcower when the insurance coverage lapscd or ceased to
<br /> be in effat. Lender will accept, use and raain these payments as a loss rcserve in licu of martgage insurence.I.,oss resave
<br /> Form 3o2s oloo
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