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��15��9 �n the�v�nt of�vss,Borro�ver sha11 give Lender immediate natice�y mai�. L�nder may ma�e praaf�f loss if not made�romp�ly by�orrawer. Each insurance company concemed is hereby authoriz�d and directed�o ma1��pa�rment for such los�direc��y t�Lender, instead of to Borrower and t�Lend�r,�ointly.1�11 ar any part vf the insurance proceeds may be appli�d by Lender,at its�ption,either�a�to the reducti�n�f the �ndebtedness under the Note a�d this Security Inst�rrument, first ta any delinquent amou�ts applied in the arder in para�raph 3,and then to prepayment af pr�ncipal,or�b}to�he r�storation or repau of the damaged Property.Any application of the proceeds to the pr�ncipal sha11 not�xtend Qr postpane the due date af the monthly paym�nts which are ref�rred to in�aragraph�,ar change the amount af such payments.Any excess in.surance pr�ceeds over an amount r�quired to pay a1�outstanding indebtedne�s u�.d�r the Note and�his Security Instrument sha11 b�paid to�he entity�egally�ntitled th�reta. ��.�h�event of forec�osure of this Security Inst�xnent or othef t�a�nsf�r af title ta the Pro�aerty that extinguish�s the inde�tedness,a11 right,title and in�erest af Borrawer in and to insurance policies in force shall ga�s to the purc�aser. �. ��Cupancy, Preservat�on, 1�Aair�tenanc�and Protect�on of the Property; Barrov�rsr'� Laan A►pp�ieation;Le�seholds�orrav�rer shal�occupy, establi�h, and use the Property as Borro�ver's priacipal residenc�within sixty days after the execut�on af this Security Insi�urnent(or�r��h�n sixty days of a tat�r sa�e or transfer of the Property)and shax�continue to occup�r the Property as Borrowe�'s priacipal residenc�for at Ieast one year after the date of occupancy,unless Lender determi.nes that requirement ur�ll cause undu� hardsh.ip f�r�arrowver,or unless extenuat�ng ciurcumstances exist which are beyand Borro�ver's ca�ttrol. Borrower�hall notify Lender vf an�extenuat�ng circumstances. F3�rrower shal�not c�mmit�aste or destray, damage or substantially change�h�Proper�y�r a11ow the Property to deteriora.te,reasonable��ar and tear excegt�ed,Lend�r may inspect th�Progerty if the P�opext�r i�vaca�t or abandoned or the 1oan.is in d�e�a��. Lender may take r�asonable action to protect and preserve�uch vac�.nt or abandoned Property.B�rro��r sha��also be in defau�t if Borrawer,durin�the I�an application process,gave materially false or inaccurate infarmat�on or statements to Lender(or fai�ed to pra��de Lender with an.y material infarmati�n��n connection�vith the loan evidenced by t�e Nat�, inc�udin.g,but not limited�o,representation.s ca�cem�n� Banower's occu�ancy of the F'roperty as a�ri�n.cipal residence. �f this Security In�trument is on a I�asehold, Bo��tiv�r sh�11 camply�vith the prov�sians o�t�e�ease.If Bo�rov�er act�uires f�e tit�e to th�Prt�per�r,��.e �easehold and fee title sha11 nat be merged unless Lender agrees ta the mer�er in�riting. �, Gand�mnatian.The�ro�e�ds of an�av�ard or claim for dama.ges,direct or consequentia�, in connection with any condemnation or other tal�ing af any part vf the Praperty, or for Gonv�yance in plaGe�f condem�n.at��n, are hereby assi�ned and shall be paid to Lender to the e�tent vf th�fu�l amount of the indebtedness that remains unpaid under the Note and this Secur�ity Instsument, Lend�r shall�apgly such graceeds to the reduc�ion of the indebt�dness un.der the N�te and this Securit�r Ins�rument, first to an�y d��inquent amounts applied in the ard�r provided i.n p�.ragraph 3,and then to prepayment of principa�,A.�.y app��cation of the praceeds�a th�principa�sha11 n�t extend or postgone the due date of the monthly paymen�,s,�vhich are referred�o in paragraph�,or change the am�unt of su�h payments,Any excess proceeds a��r an amaunt required�o pay a�l outstanding indebtednes�under�he Nate and this S�curity In�trument shall be gaid tv the ent�.ty legall�ent�tle�.th�ret�, '�. Char�gs�ta Borro�r►�rand Protectian af Lender's Rights�n the Prvperty.Borrvwer sha11 pay al� gavernmental ar mun�c�pal�harges, fines a�d impvs�tion.s that are not�nc�uded in paragraph�. Borrower , shal�pay�he�e obligations on time directly to the ent�ty v�hich is owed�he payment. If failure ta pay would ad�ersely affec�Lender's interest in the prvperty, upvn Lender's request Borrawer shall pr�mpt�y furn�sh to L�nder re�eipts evidencing the�e payments. If Borrower fails to make these payments or th�payments requued by paragraph Z,or fa�ls to perform an� otber cavenants and agre�ments contained in th�s S�cur�ty Instrumen�,ar there is a Iegal proceeding that may V�M�aRgage WITH MERS-NE VMP4N�NE)[13 2}.4� Vllott�r^s Klwver Financiaf 5ervices Page 4 af"10 q43338 6836 �33 373 4410