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2� 1 ��3474 <br /> grea�er than any min�mum required by the Se�retary of Housin�and Urban I]evelopmen��"Secr�tary"). <br /> �'�Vhether�r na�Lender imposes a flQod insurance requir�ment,Borrornrer sha11 a��a m�nimurri�nsure alZ <br /> imprUv�ments fln the Px�pe��}�,whether nc���in existence or subsequ�ntl�er�c��d,aaainst�oss bv floods <br /> t4�he exten�re�u�r�d by�he SeCretar�. If�h�Lender�rnposes insuranee re�uirem�nrs,all insurance shall <br /> be carried v►lith companies appro�ed by Lender, and�h�insuranc�poli�i�s�nd any renewals�hali be <br /> held by Lender and sha�l in�lude Ioss payable c�ause�xn favor Qf, and in a f�rm acceptable to,Lender. <br /> In the eve��of lo�s��arr��rer s��.Il g���Lender imrnedza�e natice by mail.Lender may make proflf o�' <br /> loss if no�mad�promptiy b�Borrov���r.Each�nsurar�ce campan�j con�ern�d is h�reby auth�rized and <br /> dir�cted to make payme�xt fQr such loss�o��nder ins�ead af ta Barro��er and L�nder jo�nt�y. rnsurance <br /> proc�eds sha��be applied tt�restora�ion ar repair Qf th�dam�.���i�'roper�y�if the restoration�r repair�� <br /> e�onomi�a�i�r feasXble and Lender's secur�ty is not�e�sened. �f�he rest�rat�on or repair is n4t <br /> ��QnQmicaliy feasible or�ender's se�urity w4uld be lessened,�he rnsurance prticeeds shal�be applied <br /> f rs��o the redu�tion of any indebt�dness unde�a Second Nate and Second Se�urity Ins�rumen��as <br /> describ�d�n Pa�ragraph I 5�held by the 5e�retar�on�he Prop�r��r and then�o th�reduction�f the <br /> indebtedness under�he Not�and th�s 5ecur��Instrument.Any excess insuran�e proeeeds o�er an <br /> amoun.t required to pay aIi outs�and�n�indebtedness unc�er the No�e and this Secur�ty�nstrum�nt sha�l b� <br /> paid to the�ntity legall�entit��d th�reto. <br /> �n�he ever�t af fore�losure Qf th�s Secur��y Instrument Qr o�her tran�fer of�zt�e�o�h�Proper��tha� <br /> extinguishes�he indebtedness,a��right,�i��e and�nteres��f Borrower in and to�nsurance po��cies in <br /> forc�shal��ass ro th�purchaser. <br /> 4. Uccup�n��,PreSer�a�ion,Ma�nt�nance and ProtQ�tio�n�f th�Pr�p�rty;Borro�ver's L�an <br /> Ap�lica#ifln; L�aseholds.Borro�uer sha�l a��upy,es�ab�ish,anc�use�he Properry as Barrow�r's <br /> Principal Res�dence after�he execurion of this Securi���nstrumen�and Borro�wer�ar at�ea.�t one <br /> �orrawer, if�ni�ialiy mare than one pe�Son are Bflrrowers�shall continue to occupy the Pr�perty as <br /> BQrrower's Pr�n�ipal Residen�e far�l�e term�f�h�Security Instrument. <br /> Bar�aw�r sha�i n�t c�mm.i�u�aste ar destr�y,damage or substantially Ghan�e the Pro�erty or aliow the <br /> Property to d�teriorate,r�asonable v��ear and tear exc�p�ed.BQrrower shall als�t�e i�defaul�if Borrawer, <br /> during the IQan appl��atzan prn�e�s,�a�e mat�rially fa��e�r xnac�urate informat�on�r statem�nts�o <br /> Lend�r�or fa���d�o pravide Lender�i�h any material infor�x�ation�in eonn�ct�on vv��h th�Iaan <br /> evidenced�y�he No�e,including,bu�not limited to, �epr�sen�ati�ns concern�n�Borrower's accupancy <br /> �f�he�roperty as a princip�.l Res�dence.�f�his Securi�y�ns�rument i��n a Ieasehold,Borrower sha�l <br /> Gamply�ith the provisians of�he l�ase.�f B�rrower acquire�fee tit�e�o�he Proper�y,the�eas�hold and <br /> fee ti�le shall nQ��e merged unles�L�ender agrees t��he m�r�er in wri�in�. <br /> 5.�harge���Sorrower and Pro#�c��on a�f L�nder's Ribh�s in th�Prvp�rty. B�rr���er sha��pay all <br /> governm�nta[or mu�.icipal chaxges,�nes and imposit�ons that are not in�Iuded i�Paragra�h 2. <br /> �arrower shall pay th��e obligat�ans Qn�ime d�rectly ta the�nti�y whi�h is owed tl�e paymen�.If fa��ure <br /> tfl pay wauld ad��rsely aff��t L�nder's interest in�he Prop�rty,up�n.Lender's request B�rr��vver sha�� <br /> prompt�y furnish�o Lender re��ipts evid�n��ng th�se pa�ments.Borr�w�r sl�a�i pr4mptZy dischar�e any <br /> lien which�as priori�y over�his Security Ins�rument�n�h�mann�r pro�ided in Paragraph �4���. <br /> If B�rrower fails to make�hese paym�nts or pay the proper���harges required by Paragrap��,ar fails tfl <br /> p�rform an�r o�her cov�nants and a�reements cQntained in th�s S�curi�y�ns�rument,or there is a le�ai <br /> proceed�n�tha�may signif�can�ly affect L�nd�r's rig�ts in the PrQper�y��uch as a prace�d�ng in <br /> bankrup�cy,for condemna�ion or�a enfor�e laws or r�gu�a��ons��th�n Lender m�.y do and pay whate�er <br /> xs necessary to�ro�ect the�a�ue flf the Pro�er�y and Lender's r��hts in the Prop�rt_y,includin�pa�Tmen� <br /> Pa�e 3 pf�� ���CM First Deed Of Trust-2�1� <br />