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<br /> 5. Hezard or Prope►ty Insurance. Bonower sha�i keen the improve*.nents now ezisting or hereafter erected on the
<br /> Property insured against loss by fire, hazards included within the term "extended coverage' and any other hazards, including
<br /> floods or flooding, for which Lender requires insurance. This insurance shaYl be maintained in the amounts and for the periods
<br /> that Lender rcquires. The insuruice carricr provid4ng tl�e insurance shall be chosen by Borruwer subject to Lender's approvai
<br /> which shall not be unreasonably withhold. If�orrower f:�ils to maintain coverage desccibed above, L,ende: may, at L.ender's
<br /> option,obtain coverage tu protect Lender's rights in the Property in accordance with paragraph 7. �
<br /> All insurance policies and rentwals shall be acceptable to Lender and shall inclnde a staadard mortgage dause. L.ender ,
<br /> shall haet the right to hold the policies and renewals. If L,ender requires,Borrower shall promptly give to Lender all receipts bf
<br /> paid premiums and reaewal notices. In�he event of i�ss, Aorrower�t.iall give prompt notice to the insurance carricr and I.ender.
<br /> I,ender may make F;roof of loss if not made prompdy by Borrower.
<br /> Unless Lender and Bonower othenvise agrce in writing, insurance proceeds shall be applied ro resroratior,or repair of the
<br /> Pr�perty damaged, if the restorauon or repair is aconomically feasible and Lender's security is not lessen'�d. If the restoration or
<br /> repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums
<br /> secured by this Security Instivment, whether or not then due, with an}� ezcess paid to Bonower. If Bonower abandons the
<br /> Property, or does not answer:vithin 30 days a notice from L.ender that the insurance carrier has offered ro settle a claim, then
<br /> Lender may collect the insarance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument,wliether or not then due.The 30-day period wiil begin when the notice is given.
<br /> Unless Lender aud Borrower othecwise agree in writing, any ap�licaticn of proeeeds to prineipal shall not extend or
<br /> postpone the due date o�the mon!hly payments refened to in paragraphs 1 and 2 or change the amount of the payments. lf
<br /> under paragraph 21 the Property is acquired by L,ender, Borrower's right tp any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Security Instrument
<br /> :mmediately prior to the acr�uisitic�n.
<br /> 6. Occupancy, Preservatic�n,Matntenance and Protection of the Property; Borrower's Loan Appllcnt3on; Lcasei�olds.
<br /> Bonewer shall occupy, establish,and use the Property as Bonower's principal residence within sixty days aftcr the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's rincipal residence for at leasi one year after
<br /> the date of occupancy, unless Lender otherwise agrees in writing, which consent s�all not be unreasonably withheld, or unless
<br /> eztenuating circumstances ezist which �re beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Propeny, allow the Property to deteriorate, or commit waste on the Properry. $orrower shall be in def:sult if any forfeiture
<br /> ac�ion or proceeding, whether civil or crir.iinal, is begun that in Lender's good faith judgm..nt could result in forfeiture vf thc
<br /> . Property or otherwise materially impair the lien crPated by ehis Security Instrument or L.ender's securiry interest. Borrower may
<br /> cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed witl�a ruling
<br /> that, in L.ender's good faith determination, precludes forfeitui�e of the Bonower's interest in the Property or other materiaf
<br /> impairment of thc lien created by this Security Instrument or Lender's security interest. Borrower shall also be in defa�lt if
<br /> Borrower, dur.ng the loan application process, gave materially fals�or inaccurate information or statemen:s to Lender(or failed
<br /> to provide Lender with any material information) in connection with the loan evidenc:d by the Note, including, but not limited
<br /> to, representations conceming Borrower's occupancy of the Prop�rty as a princiPal cesidence. lf this Security Instrument is on a
<br /> leasehold, Borrower shall compiy with all the provisiuns of the lease. If Borrnwer acquires fee title to tha Property, the
<br /> leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br /> 7. Protection of Lender's Rights In the Property. If Bonower fails to perform the covenants and agreements conta��ed in
<br /> this Secur=.ty [nstrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a
<br /> pruceeding in banicruptcy, probate, for condemnation or forfeiture or to enforce ►aws or regulationsj, then l.ender may do and
<br /> pay for .vhatever is necessary to p*otect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums secureci by a lien which has priority over this Security lnstrument, appearing in court, paying. ,
<br /> reasonable attomeys' fecs and enteriug on the Property to make repairs. Although Lender may take action under this paragraph
<br /> 7, I,ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall beceme additional debt of Borrower secured by this
<br /> Security Instrument. Unless t3onower and L.ender agree to ather terms of pzyment, these amourits shall bear interest from thc
<br /> date of disbursement at the Note rate and shall ba payable, widi interest, upon notice from Lender to Borrower requesting
<br /> payme:it.
<br /> 8. 164ortgage lnsurance. If Lender required mortgage insurar.re as a condition of making the lo�i secured by this Secur,ty
<br /> Inst�vment, Borrower shall pay the premiums required to maintain the morteage insurancz in effect. If, for any re:�son, the
<br /> mortgaqe ins:::ance coverage required by Lendcr lapses ar ceases to be in effect, Bonower shall pay the premiums required to
<br /> obtain cc:verage sabstan:ially r.quivalent to the mortgage insurance previously in effect, at a cost substantially equivalent ro the
<br /> cost to BoiYOwer of the mortgage insnrance previously ir, effect, from an alternate mortgage insurer approved by Lender. If
<br /> sLbstantiaVly,-;uiv�ent mortgage insurance coverage is not available, Borrower st�all pay to Letider each month a sum equal to
<br /> one-:wdfth of the�eazly mortgage insurance promium being paid by F3orro�ver c:hen the insurance covcragc lapsed or ceased to
<br /> bc in ei.°ect. L,ender will accept, use and rotain thesc payments as a loss reserve in lieu of mortgage insur.lnce. Loss reservc
<br /> Form 3028 srso
<br /> ��6R(NE)i9:i z�.UZ Pape 1 0l B i W�..i�.
<br /> mt�o-�, iv�s � �
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