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<br /> � 5. Hazard or Property Insurance. Borrower shall keep che iinprovements now cxisting or hercaftcr ercetcd on thc
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<br /> ;,��; Property insured agalnst loss by firc, hazards included within the tcrm "extcnded coverage" und any other hs�rds, including
<br /> �� � '�'� floods or flooding, for which Lender requires insurance. This insurance shali be maintalned in t4e amounts and for the periods
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<br />.....:.- _s, that L.ender requires, The insurance carrler provlding the insurance shall be chosen by Borrower subjecc to Lender's approval
<br />��;";';�:'`': which shall not be unreasonably wlthhetd. If Borrower fails to maintain coverage described abovc, l..ender mny,at Lender's
<br /> •���r"'d�;'K'� option,obtain coverage to protect Lender's righta in the Property in acwrdance with paragraph 7,
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<br />-_=-�':� `:: . All in9urance policles and renewals shall be acceptable to Lender and st►all include a standard mortgage clause. Lender
<br />-�=���"' shall havc thc right to hold tlie policies and tenewals.If Lender requires, Bonower shAll promptly give tp I.ender all receipts of
<br />°- '°�=�R'�"' paid premiums and renewal notices.In the event of loss, Borrower shail give prompt notice to the insurance carrier and I_ender,
<br /> =�� L.ender may make proof of loss if not made promptly by Bor�wer.
<br />- _� Unless Lender and Borrower othenvise agreo in writing, insurance proceeds shall be appliecl to restoration or repair of[he
<br />----:.��� Property damaged, if thc restoration or repair is economically feasible and Lcnder's security is not lessened. If the res[oration or
<br /> .'�%� repair is not er,onomically feasible or Lender's security would be lessened, the insurance proceeds shall be applicd to the sums
<br /> -�'?�.. secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br />-�-i�,b.n�=� P[ope[Iy, or does not answer within 30 days a notice from Lender that the insurance canier has offered to settle a clefm. then
<br /> -^=�,t���� Ixnder may collect the insurance proceeds. Lender may use the procecds to repair or restore the Property or to pay sums
<br /> ..f��;,�,-�. securcd by this Sccurity Instrument,whcthcr or not t�en due. The 30-day period will begin when thc natice is given
<br /> �- Unless Lender and Borrower atherwise agree in writing, :u►y application of proceeds to principal shall not extend or
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<br /> - •�.:,�ms.: postpone the duc date of the monthly payments referred to in paragraphs 1 and 2 or change [he amount of the payments. If
<br />~``�--'�`=''��"� under ara ra h 21 the Pro ert is ac uired b I.ender, Bonower's ri ht to an insurance olicies and roceeds resulcin from
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<br /> :..—_e� demage to the Property ptior to the acquisition shall pass to Lender to the extent of the sums sccured by this Security Instrument
<br /> _�"� immediately prior to the acquisition.
<br /> --�i�r ' G. Occupancy,Preservation,Mnintenance and Protection of the Property;Borrower's I.oan Appllcatlon;Lease�olds.
<br /> ``�''�',,�"�� Borrower shall occupy. establish,and use the Propeny as Borrower's principal residence within sixty days after the exaution of
<br /> ;3'Y`-i°�_',�� this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br /> ��� the date of occupancy, unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless
<br /> ���,,�� extenuating circumstances exist which are beyond Bonower's control. Bonower shall not destroy, damage or impait the
<br />--- Property, alluw the Propeay to detcrioratc, or commit waste on the Property. Bonower shall be in default if any forfeiture
<br /> -=%�.� action or proaeding, whether civil or criminal,is begun that in Lendcr's good faith judgment could result in forfeiture of the
<br /> -a��;�,�s�a Property or otherwise materially impair the lien created by this Securtty Instniment or I..�nder's security interest. Borrower may
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