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<br /> S. Hwtrd or Property Insurance. Rorrowcr shall kecp thc improvenknts now existin� on c�reafter erected on the
<br /> Property insured against loss by fire,hazards included withitt the tenn "extcndal cuvcragr" and uny othcr haz:trds, including
<br /> flcxxl5 oe flooding, for which Lendcr rcquires insurunec. This insurancc shall bc:maintAincd in thc mnounts and for ths periods
<br /> tl�at Lender requires. The insur�nce cnrricr providing the insuruncc shnll be chnsen by Rorrower subject�o l.ender's approval
<br /> which shall not bc unrcasonably withhcld. If F3orrowcr fails ta maimuin covcrabc describcd nbc�vc, l.ctxicr ntuy,at L.cndcr's
<br /> optian,ubtain coverage to proteet l.ender's rights in the Property in accordanee with paragraph 7.
<br /> All insurrncc pc>licics and renewals shall bc accoptable to C.cncicr and shall includc u stundurd mongagc clausc. Lcixlcr
<br /> sh<<II havr.dic right to hold the policics und rencwnls, If I.cnder r�quires, Rorrower shnll promptly givc to I.ender all.rcceipts of
<br /> paid premimns und renewal notiets. In the event of loss,Borrowcr shall give prompt notice to the insurancc carrier and Lcncler.
<br /> l,encicr may enakc proof of loss if not made promptly by Borruwer.
<br /> Unicss I..endcr und Borrower otherwise agrcc in writing, insurancc procceds shall be applied to restorution or rcpair of tlie
<br /> Property damaged,if thc restoration or repair is economicnlly feasible and L.endcr's security is not lcs�enal, If the restaration or
<br /> repair is �at economically feasible or Lender's security would be lessened, the insurance procceds shull be applied to the sums
<br /> secured by this Security Instrument, whether or nat then due, with any excess paid to Borrower. If Borrower aba�xlons the
<br /> Property,or dces not answer within 30 days a noticc Gom L,cndcr that thc insurance carricr has oiferesl tc� �ettl�a claim,then
<br /> Lender may collcct the insurance proceecls. Lcnder muy usc the pmceeds to rcpair or restor� the Property or tu pay sums
<br /> securcd by this Sccurity Instrumcnt, whethr.r or not then due.Thc 30-day pericxl will bcgin when thc notice is given.
<br /> Unless I.ender and Borrower otherwise agree in writing, any application of proceeds to principal shnll not extend or
<br /> postpone �he due date of�hc monthly p�yments referred to in paragraphs t and 2 or change the aRiount of the payments. If
<br /> under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies und procads resulting from
<br /> dnmage io�he Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br /> immcdiately prior to the acquisition.
<br /> 6,Occupancy,Pnserva/ion,Malntenance and Protection ot the Property; Borrower's Loen Applitation;Leaselwlds.
<br /> Borrower shall occupy,establish,and use the Property as Aorrower's principal residcnce within sixty days after the execution of
<br /> this Security Instrument and sliall continue to occupy the Property as Borrawer's principal residence for at least one year after
<br /> the date af occupancy, unless I.ender otherwise agrees in writing, which consent shall not be unrG�sanably withheld, or unless
<br /> exter.uating circumstances exist which are beyond Borrower's control. Borruwer shall not dcstroy, darnage or impair the
<br /> Property,allow thc Propeny to deterioratc, or commit waste on the Property. Borrower shall be in default if any forfciture
<br /> action or proceeding, wliether civil or criminal, is begun that in Lcnder's good faith judgment could result In forfciture of the
<br /> Property or otl�erwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may
<br /> cure sucli a default and reinstate,as provided in paragrapli 18, by causing the action or proceeding to be dismissed with a ruling
<br /> ;h..r �.. irs��lr�'c �rxxi faith determin�tion, precludes forfeiture of the Borrower's interest in the Property or othcr material
<br /> impaimient of the lien created by this Securiry Instrument or I..ender's security interest. Borrower shall also be in ucfauit ii
<br /> Borcower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or fail�xl
<br /> to provide Lender with any material infom�ation) ir,connection with the loan evidenced by the Note, including, but not limital
<br /> to, representations concerning Borrower's occupancy of the Property as a principal residence.If this Security[nstrument is on a
<br /> Ieasehold, Sorrower shall comply witli all th� prnvisiuns of the Iease. If Borrower acquires fee title to the Praperty, the
<br /> leasch<>Id and the fee tidc shall �wt mergc unless L.endee agrees to thc merger in writing.
<br /> 7. Protectlon of Lender's Rights in the Property. If Borrower fails to perf�rm thc covenants and agrecments containcci in
<br /> this Sccurity (nstrument, or there is a legal proceeding that may significantly affect Lender's ri�;hts in tlie Property (such as a
<br /> proceeding in bankruptcy, probate, for condemnation or forfeiture or to r,nforce laws or regulations), then Lender n3ay do and
<br /> pay for whatever is necessary to protect the valuc of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying an�• sums sccur�d by a licn which has priority over this Security Insirument, appearing in court, paying
<br /> reasonable attorneys' fees and entering on the Propeny to make repairs. Although Le�der n�ay take action under this paragraph
<br /> 7, Lcnderdocs not havc to do so.
<br /> Any amounts disbursed by l_ender under this paragrrnh 7 shall become additional debt of Barrow•er secured by this
<br /> Security Instrument. Unless Borrowcr and Lendcr a�rce to other tenns of payment,these amounts shall bcar interest from the
<br /> datc of disbursement at the No�c rate and shall tx: payablc, with inlcrest, upon noticc from Lcndcr to Borrou�cr rcquesting
<br /> payn�ent.
<br /> S. MortgAge Insurance. If l.+�ixier reyuired mortgage insurancc as a condition oY making the loan se�ured by this Securiry
<br /> Instrument. Borrower sha11 pay Ihe premiums required to maintain the mortgn�;e insurance in effect. If, (or any reason. the
<br /> mort�age i��suranee coverage required by I,ender lapses or ceases to be in effect, Borrower shall pay thc premiums required ro
<br /> obtain co�'eragG substantially equivalent to the ntortgage insur.uuc previously in effect,at a cost substantially equivalent to the
<br /> cost to Horrower of th� mortgage insurance previously in effcrt, from an alternate �nortgage insurer approved by Lender. If
<br /> substantially equiv:►Icnt mortgage insurancc co��erage is na:available. Borrower shall pay to Lcnder each rnoiith a sum equal to
<br /> one-twelfih of tlie yearly mortgage insurance premium being paid by Burrower when the insurance coverage lapsed or ceased to
<br /> be i«eff�rt. Lcndcr will acccpt,use snd ret:►in tltesc paymcnts as a loss rescn�c in lieu ��f mortga�c insurance. L.ass resen�e
<br /> Fam 3028 9190
<br /> P�90 3 0�6
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