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<br /> •Y ' •S. Ha7�rd or Property Inr.urat�ca,Dorrawer�hall kcep the improvementa now existing or hereatter erected c�n �
<br /> ;���� � the Property insured againet loss•la��N;�N�rBa included within the term "cxtended coverage" and any other he•r.erde, �
<br /> .,�. ' including fla�c'�s or flooding,for wfiich Lender requires insuranca, 'Phie ineurnnce ehall be maintained in the amoun�9 �,..
<br /> „, and for tha{xriods that Lender requires. The insurance carrier prnviding the insurance st�ell be chasen by F�arrower
<br /> subject to Lender'A approvsl which ehall not be unreasonably withheld.If Dorrower fails to meintain coverage descrit>ed __
<br /> '' above, Lender mRy,at I,ender's option,obtain coverage to protect I.ender's rights in the Property in eccordance with �._
<br /> paragraph 7, �'`
<br /> ° �'�" All insurance policies and renewels ehell be acceptable to I.ender and ehall includa a etanderd m�rtgage clause.
<br /> ' � ],ender shaU huve the right to hold the �licies end renewale. If I.ender requires, Horrower shall promptly give to �_
<br /> , I.end�r ali receipts ot paid premiums and renowal noticas.In the event ot loss,I3orrower shall gi ve prompt nouce to the ��
<br /> -•:���i� � inaurance cerrier and Lender.Lender mey meke proof of loss if not mede promptly by Borrower.
<br /> Unless I.ender end Horrower otherwise agree in writing,insurance procads shell lie epplied to restoration or repair
<br /> • of the Property dameged,it the restoratian or repair is economicelly feaeible and I.ender's security ie not lessened.If the
<br />:�, , restoration or�repair is not economically feasible or L,Gnder's sscurity would be lessened,the insurance pr�ceeds shsll be
<br /> t, applied to the sums secured by this Security Instrument,whether or not then due,with any crcess paid to IIorrower.I[
<br /> , kiorrower abandonsthe Property,or does not onswer Nithin 30 days a notice from L.ender thet the insurence carrier hes
<br /> offered to settle a claim, then I,ender may collect the ineurance proceeda. Lender may use the proceeda to repair or
<br /> � restore the Propertyor to pay sume secured by this Security Instrument,whether or not then due.The 30-day period will
<br />_' begin when the notice is grven.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeda to principal shall not oxtend or
<br /> postpone the due dete of the monthly payments referred to in paragraphs 1 and 2 or change•the amount of the paymenis.
<br />-, If under paragraph 21 the Property is acquirui by I,ender, Barrower's right to eny insurance policies end proceede
<br /> resulting from damage to the Property prior to the acquieition 9haU paas to I.ender to the extent of thesums secured by _
<br /> this Security Instrument immedietely prior to the acquisition.
<br />= 6.Occupanay,Preservation, Maintenaace and Protection of the Property; Borrower's Lo�n Application;
<br /> Leaseholds. Borrower shall occupy,establieh,and use the Property ae Borrawer'e principal tesidence within sixty days
<br />- �i.d. rafter the execution of thie Security Inatrument and ehall continue to occupy the Property a3 Ilorrower's principal
<br /> ` residence for at least one year aftr.r the date of occupancy,unless L.ender otherwise agrus in writing,which consent shall
<br /> ,�'<< ,,, _ not be unreasonably withhdd,ur unless extenuating circumstances exist which are beyond Borrower's control.Borrower
<br />�:', ` �,• .t shell not destroy,damege or impair the Property,allow thc Property to deteriorate,or commit wasto on the Property.
<br /> � ' Borrower shall be in default if any forfeiture action or proceeding,whether civil or criminal, ia begun that in Lender's
<br /> good faith judgment could result in forfeiture of the Property or otherwise materielly impsir the lien created by this
<br />-. . ., ' Security Instrument or I,ender's security interest. Borrower may cure such a detault and reinetate, as provided in
<br /> paragraph 18, by causing the action or proceeding to be dismissed with a ruling thet, in Lender'a good faith
<br /> T_.—,�..., ` 3c.crmi^s:ion,gr�:1���PA f��feiture of the Borrower's interest in the Property or other materisl impainment of the lien
<br /> ?� created by this Security Instrumer►t or Lender's security interest.Borrower ehnii also ba in ociauti�t uv��owcr,3urin;
<br /> � the loan application process, gave materially false or inaccurate intormation or statoments to L.endGr (or failed to
<br />�t.` '�r.�; provide Lender with any materiel informatinn)in connection with the loan evidenced by the Note,including,but not
<br /> ���,... ,.
<br /> r�.;:;,_.;�`;�`• limited to, representations concerning Borrower's uccupancy of the Property as a principel residena. If this Secunty
<br /> �:;;�:�•s""+�' Instrument is on e I�asahold,Horrawer shall compl,y with all the provisione of the lease.If Borrower acquir�s fee title to
<br /> ��h:�';���`=�`� thc Property,the leasehold and the fce title ahall not merge unless L.ender agree.v to the merger in writing.
<br /> ='���::�:`.� 7. Protectioa of Lend�r's Ri�l�ts in the Property.If Borrower fails to perform ihe covensnts and agramcnts
<br />����`��:;r?s contained in this Securit3�Instrument,or there is a legal proceeding that may significantly effect Lender'a rights in the
<br />��'���::_,. Property (such ae a proceeding in bankruptcy, probata, for condemnation or forfeiture or to eniorce laws or
<br />�:.�:•�:,;�.�,
<br />-- regulations), then i.ender may do and pay for whatever is neccssary to protect the velu� ot the Property and Lendcr s
<br /> ='"'`�'���t� ghts in the Property. L.ender's actions may include paying any sume secured by a lien which has priority over this
<br />�;•��.,.,,F ri
<br /> --'--•-- Securit Instrument a ring in court,paying reasonnble attorneys'ixs end entering on the Property to make repa►re.
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<br />���,T�� Although Lender may take action under thie paragraph 7,Lender does not hava to do so.
<br />�1;`,,,'";,� Any amounts disbursed by Lender under thie paragraph 7 shnll become additianal debt of Borrowor secured by this
<br />°a�:r:�' Security Instrument.Unless Borrower and L,ender agree to other terms of payment,these amounts ehall bear interest
<br />="''`�=�'��=�'r� from the date of disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Borrower
<br />-�'� � requesting payment.
<br /> 'I. ,� �.�� 8. Morte��e Insurance. It Lender required mortgage insurence as a condition of making the loan secured by this
<br /> =r- �� � Security lnstrurnent,IIorrower shall pay the premiums requirul to meintein the mortgege insurnnce in effect.If,for any _
<br /> ~,r.o���.��: t reason, the mortgage inaurance coverage required by L.ender lapses or ceas� to be in eftect,Borrower shall pay the
<br /> premiums required to obtain coverage substantially equivalcnt to the martg$ge insurance previously in ctfxt,at a cost
<br />°,..:"�''�'� , substentially equivaltnt to the cost to IIorrowor of the mortgego insurance previously in efiect,from an alternnte
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<br /> '::,.. .. , . , mortgage insurer approved by Lender. lf substantially equivalent mortgege insurance coverage ie not aveilab e,
<br /> ``�r^ � Borrower shall pay to Lender ear,h month a sum equal to one-twelfth of the yearly mortgege insurance premium being
<br /> ` ' ��:-••�• • paid by Borrower when the insurance coverage lapseci or ceased to be in effect.Lender will accept,use and retain these
<br /> . �' � �� ' payments as a loss reserve in lieu of mortgage �nsurance. Loss :escrve payments may no longer be required,
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