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200006898 244900521
<br />S. Flazard or Property Insurance. Borrower shall keep the improvements now exating or hereafter etecoed on the Property
<br />insured agam--t km by fire, hazards included within the arm *extended coverage' and any ether haza.-ds, inchiding floods or
<br />flooding. for which Lender requires insurance. This insurance sb2rA be maintained in the amounts and for the periods that Lender
<br />requires. The insurance carrier providing the insurance shall be chosen by Bcwrowcr subject to Lender's approval which shall not
<br />be unreasonably withheld. If Borrower fails to xmir-in coverage described above, under may. at Lender's option, obtain
<br />coverage to provxt Lender's rights in the Property in axordanct with paragraph 7.
<br />All insurance policies and renewals shall be acceptable to Linder and shall mckide a standard mortgage chose. Lender shall
<br />have the right to hold the policies and renewals- If Lender requires, BmTower shall promptly give to Lender all receipts of paid
<br />premiums and renewal notices. In the event of loss, Borrower shall give ptompt entice to the insurance camMand Leader. Lender
<br />may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged, if the restoration or repair is ecommically .feasible and I . . s security is not lessened. If the restoration or
<br />repair is not economically feasible or Leader's security would be lessened. me insurimm proceeds shall be applied to the sums
<br />secured by this Security Instrument. whether or not then doe, with any excess paid to Borrower. If Borrower abandons the
<br />Property, or does not answer within 30 days a notice from Lender that the insurance artier has offered to settle a claim. there
<br />Leader may collect the insurance proceeds. I ender may use the proceeds to repair or restore the Property or to pay sum secured
<br />by this Security Instrument, whether or not then doe. The 30-day period will begin when the notice is given. ,
<br />UnI--- Lender and Borrower O&ffwm agree in writing. 213Y Vlihmm Of Proceeds to Principal shall not extend Or postpone
<br />the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If under paragraph
<br />21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the
<br />Property prior to the acquisition shall pan to Leader to the serum of the sums secured by this Sevurity Insutiment immediately
<br />prior to the acquisition.
<br />6. Occupancy, Preservation, Maintenance and Protection of the Propartr, Borrower's Loan Application; Leaseholds.
<br />Borrower shall occupy, establish, and use the Property as Borrower's pmcipal residence within sixty days after the execution of
<br />this Security Instrument and shall continue to occupy the property as Borrowers principal residence far at least one year after the
<br />date of occupancy, unless Leader otherwise agrees in writing. which exxastttt shall not be unreasonably withheld, or unless
<br />extenuating citcumstances exist which are beyond Bon-3wer's control. Borrower shall not destroy, damage or impair the Property,
<br />allow the Property to deteriorate, Or COMMU waste On the Property. Borrower shall be in default if any forfeiture action or
<br />proceeding, whether civil or criminal, is begm that in Lender's good faith jedgment could result in forfeiture of the Property or
<br />otherwise mteriaKy impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such , a
<br />default :W reinstate, as provided in paragraph 18, by causing the action or proceeding io be dismissed W- a ruling that, in
<br />i mat goes; faith determiriadan, precludes forteitin of the BrATower's interest in ft Property or other m impairment of
<br />the hen created by this Security Instrurneut or Lender's security itutesest. Borrower shall also be in default if Borrower, dining the
<br />loan application process. gave materially false or mzccurac imuformaA or ulatenients to I (or failed to provide Lmxkr with
<br />any material informatim) in connvcdm with the loan evidenced by the Note, includat but not limited to. representabons
<br />concerning Borrower's occupancy of the Property " a principal residence. If this Security Instrument is on a k-asehold, Borrower
<br />shall comrly with all &-- provisions of the lease. If Borrower acquires fee Ode to the Property, the leasehold and to - fee title shall
<br />not merge unless Lencler agrees to the merger in writing.
<br />7. Protection cr Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contzined in
<br />this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a
<br />proceeding in bankruptcy, probate, for conderrmation or forfeiture or to enforce laws or regulatious), then Lender may do and pay
<br />for whatever is necessary to prow the value of the PropertT and I . s fights in the Property. Lender's actions may include
<br />paying any sums secured by a lien which his priority over this Security Instrument. appearing in court, paying reasonable
<br />attorneys' fees and entering an the Property to make repairs. Although Lender may take action under this paragraph 7, Leader
<br />does not have to do so.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security
<br />Instrummit. Unless Borrower and Lender agree to other osier of payment, these amounts shall bear interest from the date of
<br />disbursement at the Note rate and shall be payable, with interest. upon notice from Lender to Borrower requesting payment.
<br />8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br />Instrument, Borrower shall pay the premium required to maintain the mortgage insurance in effect If, for any reason, the
<br />mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to
<br />obtain coverage substantially equivalent: to the mortgage insurance previously in effect, at a cost substantially equivalent to the
<br />cost to Borrower of die mortgage insurance previously in effort, from an alternate mortgage insurer approved by Lender. If
<br />substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lauder each month a sum equal to
<br />one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br />be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br />A —E? r-Wl01
<br />PW93dS
<br />Form 3028 WW
<br />C,
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