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<br /> � S. Hpznrd or Proper4y Insurtmce. Bonower shall keep the Improvements now existing ar hereaftcr crected on the
<br /> - Propeny iasured against loss by fire, hazards included within the ternt "extended coverAge" and any other haxarda, including �
<br /> ' floods or tlooding,for wdich l.ender mquires iasurance. This insurancc shnll be malntained in the amounts and fot the periada ,
<br /> " that Lender requires. The insurance cerrter pruviding the tnsurance shall be chosen by Borrower subject tn Lender's upprovul �
<br /> which shall not bs unreusonAbly withheld. If Borrower fails ro maintain coveraIIe described abave, I.ender may, nt l.ender's
<br /> �.. option,obtain coverage tu protect l.ender's dghts in the Property in accordnnce with paragrnph 7.
<br /> .. A!1 insurence policies und renewals ahnll be acceptable to L.ender and shull include a standard mott�age clnuse. Lender
<br /> ' � shall have the r�ght to hold the policies aed renewels.lf Leadcr requlres, Borrower shrill promptly glve to L.ender ull reccipts ot �,,.
<br /> � paid preaiiuma end renewal notices.In the event of�osa. Borrower shell�ive prumpt notice to the insurance carrier and L.ender. �
<br /> :..:;;: Lender�nay malce proof of Ioss If not made promptly by Bonower.
<br /> , ' „ Unless Lender and Borrower othetwist agree in writing, insurance pmceeds shall be applied to restoratIoa or repair of the
<br /> ' Prop�rty damaged.{f the restoration or repair is economically feasible aad Lendar's security is not lessened. If the testoration or
<br /> � repair is not economically feasible or Lender's secudty would be lessened, the insurance procceds shall be upplied to the sums
<br /> secured by this Securiry Instrumeat, whether or not then due, with any excess paid to Horro�ver. If Borrower abandons the �.�,•
<br /> . Property. or does not aaswer within 30 days a notice fram L.ender that the insurance carrier has offered to settle u claim,then __
<br /> Lender may wllect the insurance proceeds. L.ender may use the ptoceeds to repair or restore tbe Propertp or to pay sums `,�'-_
<br /> � secured by this Securiry lnsuument,whether or not then due.The 30-day pedod will begin when the nodce is given.
<br /> Ualess Lender aad Borrower otherwise agree in wrictn�, any application of proceeds to princlpal shall aot extead or
<br /> � postgoae the due dato of the monthly payments referred to in paragraphs 1 nnd 2 or change¢he amount of the payments. If �
<br /> " under passgraph 21 thc Progerty is acquired by Lender. Borraever's right to any inaurance Qolicie.g ancl praceeda resuldag frora _
<br /> damage tv the Property prior to the ncquisidon shall pass to Lender to the extent of the suws secured by Wis Security Iasuument m
<br /> � immediat�ly prior to the acquisitton. .
<br /> � � 6. �ccupancy, Y'reservatlon, Matntenen�e and Protection of the Property; Borrower's Loun Appiicudun; �t�;:
<br /> � I.es�seho7aEs.Borrower shall occupy,esiablish.and use the Property as Borrower's principal residence within aixty days after the
<br /> �'� execudan of this Securlry Instniment and sball continue to occupy t4aE Property as Borrower's principal resideace for at least one �.,_
<br /> '�, year after tbe date of axvpancy.unless Lender othenvise agrees in writing,wluch coasent shall not be uareasonabiy witt�held. _
<br /> � or unless extenuating ctrcwnstances exist which t►ae beyond Borrower's coatrol. Borrower shall not destroy.dama�e or impatr __..
<br /> the Prop�cty.allow the Property to deterioratr.,or aammit waste on the Pro�erty.Bonower shall be ia default if any forfetture
<br /> action or proceeding.whether civil or crimiaal,ia begun that In Lender's gaod faith judgmeat could result in forfeiture of the
<br /> � Property ar otherwise materially impair the lien created by this Securlry Iasuvment or I.end¢r's security iuterest. Borrower may
<br /> --._ cssr�suc�n defu�lt and t�elnstate.�s�mvl�!!��n��?�?ph 1R, by causing the acuoa or proc.�elliing to be dismissed wIth a nilia8 ,—
<br /> " ,,. ' a that, In L,ender's good faith determinattoa, prerlu�l�a forfeiturc of the Borrower's Interest i� the Property or other matednl �.
<br /> : impairqnent of the lien created by thia Security lnsuument or L,ender's securlry iaterest. Borrower st�all also be W default if �
<br /> � „ � Borrower.duriu�the loaa applicadon process.gave materially false or inaccivate informacinn or suuementa to Lender(or failed
<br /> '!''`" •• to proviae Lendsr with any material inffoimation)ia cannecdon wlah the loaa evideaced by t�he Noto�including�bllt IIOi�i�ted —
<br /> ..,,��::,`.,°�", ;.
<br /> , .t;;;1�ti�y� ' to�representadons conceming Borrower's occupancy of the Properry as a principai residence.If thia Security Iasauwent 6s on a
<br /> n„�,,, leasehold. �orrower ahall comply with a11 ttie prnvlsioas of the lease. If Borrowet acquic�es fee tEtio to the Propeny. the
<br /> ' •�::C. , leasehold tutd the fee title shalt not merge unless Ixn6er agrees to the merger Ict wrldn�.
<br /> ` �°j`^��`'i 7.Prate#tnn of Lender's RighEs in the Property.If Borrower fails to perfom►the covenaats aad agreementa contataed ir�
<br /> ,l;.t;c',, _
<br /> ' J this Securtty[asteument, or there is a legal proceeding that mery si�nificanNy affect Lender's rlghta ia the Property(such es n
<br /> pmceeding in banlauptcy.pmbate,for waderonation or forfeiture or to enforce laws or regulationa).dten Lender may do and
<br />_ . , . ., , pay for whatever Ia necessary to protect the value of the Prop;rty and I.ender's dghta in the Property. L,eader'e actions may
<br /> - ' include payins Any suma secured by a lien which das pdoriry over thia Seturity Instniraent. appearlag ia court. paying
<br /> :,; .:'" � reasonable attorneys'fees and entering on the Property t�make repairs. Although Lender may take actton under this paragraph
<br /> � '�� 7�LendEr does not flave to do so.
<br />- -`,' An�+s�mmounta diebursed by Lender uader this paragraph 7 �hatl become additional debt of Borcower secured by tbis
<br /> '' `�" Securlry Insavment. Unless Borro�ver nnd Lender ag�ee to other tetros of payment, these amounts sha11 bear interesi from tha
<br /> - -.. d�te of d{sbursement at the Note rate aad shall 6$payable. with interest. upon aotice from L,ender to Sormwer requesting c
<br />'��r payment.
<br /> ' ��� 8.Moitg�ge Insurance.If Ixnder required mortgage inssuranco as a conditlon af malcit.�she loan scxvred by tUia Securlry
<br /> :.:.�a� Instnitaent. Borrower shall pay the p:nemiums required to maintain the monga►ge insuraace in sffect. If. for any reason, the �—
<br /> -- --- .:w_°: etortgage�n�t�rartcc covcragc t+eQuir�2 bp Ixuslce 1tt�is� ilE Li:itSZS Cv Ek �I!E�Ci t.Ro:mrrr.r�;�sJ1 �Say tht premitss�.;reqtt�red to �
<br /> r ��•--���� "�",. abtain coverage substuaeBally equivalent to tha mortgage insuranoe pnwiousIy nm effect,at a cost substan�ially equivalent to the c-
<br /> � - . oost to Borrower of the mortgage insurance previousIy ia effe�t. from aa alternnte mortgage insurer approved by Lender. If =
<br /> substanti�lly equivaleni mortgage insutanc�s coverage is not available,Borrower shalD pay to Leader eacd month a sum equal to ��
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<br /> . " ., one-twe3fth of the yearly mort�a�e imaivance premium being pa'stl iby Borrower when the n�sairance ooverage lapsed or ceaised to �'.�_:
<br /> •• be in effect.Lender will accept�use und reu+ir.these payments as a loss reserve in lieu a�ff mortgage [nsurance. I.oss teserve
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