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<br /> 5. Hazard or Property Insurance. Aorrower shall k�ep the imp�ovements now cxisting or hereufter ercctcd on thc
<br /> Property insured against loss by fire, hazar<is inciudai within the term "extended coverage" and any oiher hazards, including
<br /> ticxxls nr flcxxling, for which Lende.r requires insurancc. This insurance shnll be maint��incd in the amounts und for thc perials
<br /> �hat l.ender requires. The insurance rarrier praviding the insurance shnU be chosen by Bo�•rower subject to l.ender's approvul
<br /> Wn��i� tinAn ixit lx: unrcasonably withhelci. If Horrower faols ta maintain covcr�gc dcscribcd abuvc, LenJcr may, ut Lcndcr's
<br /> option, obtuin coverage to pratect Lerxler's rights in the Prope:ny�n acwrdance with parasrnph 7.
<br /> All insurance policies and renewals shall be acceptable to L.ender und shall inelude a ,tnndard mortguge clausa Le:nder
<br /> shall havc the right ta hold the policies and renewafs. If I_cnder requires,Borrowcr shall prompNy givc to L.ender all reccipts of
<br /> paid prcmiumti�md renewal notices. In the cvent of loss, Borrower sh�ll give prompt notice tn�he insurance G�rrier and Lender.
<br /> Lcncler may make proof of loss if not made promptly by Horrowcr.
<br /> Unless Lender and Borrower otherwise ag�ee in writing, insurance proceecls shall be applied to restoration or repair of the
<br /> Property dnmagcd, if thc resroration or repair is economically feasible and Lender's securiry is not Icssened. If the restoration or
<br /> repair is not economicaliy feasible or Lender'; security would be lessened, the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument, whether or not tlien due, w�ith any ezcess paid to Borrower. If Borrower abandons the
<br /> Property, or does not answer within 30 clays a notice from Lender that the insurance carrier has offered to settle a claim, then
<br /> Lender may collect the insurance proceeds. L.ender may use the pruceeds to repair o: restore the Property or to pay sums
<br /> secureci by this Security Instrument, whether or not then due.The 30-d;�y pericxl will begin when the notice is given.
<br /> Unless Le�xier and Barrower otherwise agree in writing, any application af proce:eds to principul shall not extend or
<br /> postpone thc due date of the nonthly paymants refened to in pamgraphs 1 and 2 or change tlie amount of the payments. If
<br /> under paragraph 21 the Pivperty is acquired by Lcncler, Borrower's right tn any insurance policies and proce�ds resulting from
<br /> damage to the Property prior to tlie acquisition shall pass to Lender to the cxtent of the sums securcd by this Security Insttumcnt
<br /> inuixdiately prior to the acquisition.
<br /> 6. Occuppncy, Freserration,MAinterwnce pnd ProtectIon of the Pmperty; Borrower's I.oan Applicatlon;Leaseholds.
<br /> Borrower shall occupy,establish,and use the Property as Bonower's principal residence within sixty days after the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Iiorrower's principal residence for at lease one year after
<br /> the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not bc unreasonably withheld, or unl�ss
<br /> extenuatiug circumstances exist which are beyon�i Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture
<br /> x�ion or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in foifeiture of the
<br /> Property or otherwise materiaUy impair the lien created by Ihis Security Instniment or Lender's security interest. Borxower may
<br /> cure such a default and reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling
<br /> that, in I,e�xler's good faith determination, precludes forfeiture of the Bk�rrower's interest in the Property or other material
<br /> �m�i:rr,;,�t af:h;. lie..�re�::�! �; :his c�.::rit; I.^.st^smP.^.• �r Le.^.der•s seeLrit; intcre�t. gnnnwr��h�i ?i��,«� ��, .�Pf���1� if
<br /> Borrower,during the loan application process,gave materially false or inaccurate information or statements to Letxler(or failed
<br /> to provide Lender with any material information)in connection with the loan evidenced by the Note,including, 6ut not limitec:
<br /> to, representations concerning Borrower's occupancy of the Property as a principal residence. lf this Security Instrument is on a
<br /> leasehold, Borrower shall comply with all the provisions of the lease. lf Borrower acquires fee title to Ihe Property, the
<br /> leaseliold and the fee title shall not merge unless Lender agn�es to the merger in writing.
<br /> 7. Protection of Lrnder's Rights in the Property.If Iiorrower fails to perform the covenants and agreements coeitained in
<br /> this Security lnstrument, or there is a legal proceeding that may significantly affect Lendar's rights in the Property (such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Le�xier's rights in the Property. Lender's actions may
<br /> include paying any sums secureci by a lien which has priority over this Security [nstrument, appearing in court, paying
<br /> re:►sonable attorneys'fee�and enteri��g on the Property to mzke repairs.p►Ithough Lender may take:tction undcr this paragraph
<br /> 7, C.ensier dces not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower�ecured by this
<br /> Security Instrument. Unless Borrower;tnd I.ender agree to other terms of payment, these amounts shall bear interest frotn the
<br /> datc of disbu.rsement at the Note rate and shall be payable, with interest, upon natice from Lender to Borcower raquesting
<br /> payn�ent.
<br /> 8. 6lortgage Insurance. If Lender required mortgage insurxnce as:t condition of making the loan secured by this Security
<br /> Insttumcnt, l3orrower shall pay the premiums requireci to maintain the mongage insurance in effect. If, far:itty reason, the
<br /> mongage insurance co��erage required by Lerxier lapses or ceases u�be in effect, Borrower shall pay the premiums reyuired to
<br /> obtain cuverage substantially equivalent to the mortgage insur:uice previously in effect, at a cost subst�nti;►lly equivalen[to the
<br /> cost tu BorroW�er of the mortgage insur:uice previousl�� in effect, from an :ilternate mortgage insurer approsed by Lender. [f
<br /> substantially equivcilent mottgage insucuue coverage is not available, Borrower shall pay to i.ender each month a sum equal to
<br /> one-iwelfth of the ye�rly mortgage insurance premium being paid by Borrower when the insurmice coverage lapsed or ceast:d to
<br /> be in effect. l.ender wil! uccept,use:imd re[ain[hese payments as a luss reserve in lieu of mortBage i�isurance. Loss reserve
<br /> Form 30T8 9190
<br /> PaOa 9 ot 6
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