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<br /> 7
<br /> 1��:-�-�- • gi—.. �usi:��
<br /> .
<br /> periods thut Lender rrquires. 'I1�a insurance cartier providing Ihe insurence shall be chusen by Borrower subject to Lender's
<br /> - epproval which rFwll not bo unreusonably wi�hheld. Df Borrower fails ta maintain coverage de�cribed above,Lender rtuiy.At
<br />— Lender's option.obtain coveroge to pratect l.ender's rights in the Prapeety in uccordance wi�h paragraph 7.
<br /> _ AII iawrnnce Q�licies and renewals st�aU bo acceptable to Len�er and shall include a atandand mortga�{c clouse. L.ender
<br /> sholl havo ihe right to h�ld thc palicies and nenewels. !f l.cnder nequires,Borrower shall promptly give to Lender ull reccipta
<br /> - of patd premiums and renewal noticea. In the event of loas.Horrower ahall give prompt notice to tha inrurwx:d con'ier w►d
<br /> � L.ender. l.ender may make�roof of loss if not made promptly by Borrower.
<br /> Unless Lender and Horrower othernisc agree in writing,inauronce proceeds shell be applied to reslurutiun or repair of
<br /> tite Property damuged, if the restomtton or�+epair is economically feasibb and Lender?s secudty is not lessened. If the
<br />' - - ' reswrntion or rcpai� is not economically feasible or L.endera security would be lessened, the insurunee proceeds shnll be
<br /> applied to the sums secured by thfs Security instrument,whether or not then due,with any exceas puid to Borrower. If
<br /> - Bo�rower abandans the Property,or dces not anawer within 30 days a notice fram Lender that the inxurnnce caRier has
<br /> offered to settla u cluim,then Lender may collect the insurance procceds. Lender may use the praceeds to nepnir or restore
<br /> - tha Property or to pay sume secured by thix Security Instrument,whether or not then due. The 30�day period will begln when
<br /> ---- the notice is glven.
<br /> -- Unless Lendec and Bortower athcrwise agree in writing,uny opplicatfon of proceeds to principal shall not extend or
<br /> postpone the due dute of the monthly payments t+eferrcd to in paragruphs 1 und 2 or ci�ange the amount of thc payments. lf
<br /> .- undtr paragraph 21 the Propeny is acquired by Lender. Borrawer!s right to any inaurnnce policies and praceeds nesulting
<br /> from damage to the Property prior to the acquisition ahall pass to Lender�o che extent of the sums secured by this Security
<br /> - - - �:;� Instrument immediately prior Io the acquiaition.
<br /> _--',i 6. (kcupAncy, Preservation, Maintenance and ProtecNon of Ihe Property; Borrower's l.oan Application;
<br /> ••� Leaseholds. Borrower shall occupy,estublish,nnd use the Property as HorrowerR principal residence wlihin sixry days after
<br /> the execution of this Security Instrument und shall continue to occupy�he Praperty us Borrawer g princip�l residence for at
<br /> - " least one year aRer ihe dnte of occupnncy, unless Lender otharwise ngrees in wrfting, which consent 4hall not be _
<br /> _-_�:yM;� unreasonably withheld,or unless ex�enuuting circumstnnces exist which are beyond Sorrower's control. Barrower shall not
<br /> _ destroy,damage or impuir the Property.allow the Property to deteriorate. or commit wns�e on ihe Propeny. Borrower�shull
<br /> -- ____-- - be in default if eny forfeiture uction or praceeding,whether civil or criminal. is begun that in Lender�s gaxl faith judgment
<br /> -"'`"��'�• could result in forfeiture of the Property or otherwise materinlly impuir thc lien created by this Security InKtniment or
<br /> ._a.yy�:�'s LenderR secu�ity interest. Borrower muy cure such A defnult und reinatate,as provided in paragraph 18,by causing the action
<br /> �-�,�'�.:. or proceeding to be dismissed with a ruling ihut,in Lender's good fuith determinution,precludes ForFeiture of the Borrowerk
<br /> � _k.' interest in the Property or other material impnirnient of the lien crented by this Securlty Instn�ment ar Lender�c sccudry
<br /> � ° interest. Borrower AItAII AI30 6e in defAUlt if Bortawer, during the loan upplica�ion process, �uve materiully fulse or
<br />°�=.:t�-i���:�� inaccuru�e informution or,tate�»cnts to Le+�Jar(or failad to provide I.endu�with any matcrial infartnation)in connection wfth
<br /> _-��• the loan evidenced by the Nota, including, but nat limited ro. representations concerning Barrower's occupuncy of the
<br /> �_��;�yt Property ac a pdncipAl residence. If'this Security lnsiniment is on u leasehold,Borrowcr shull comply with ull the provisions
<br /> . —��„ of the lense. If Borrower acquires fee title to the Property,lhe leasehold and the fee tille shull nat merge unless Lender agrees
<br />_ -,-— iu i��u�rgC� i�l wYftiBg.
<br /> ---�=�� 7. Protectton of I.ender's Rights in the Property. If Borrawcr failx to perform �he covenAr�s und agreements
<br /> '"���:��'�? contuined in this Sewrity Ins�rument, ar there is u legal proceeding thut muy tiignificanHy nffect Lender's rights in the
<br />_�ti,::��.:�.•r,
<br /> .,sri:.,,�.�, • Property(such us a proceeding in bankruptcy,prabate,for condemnation or fcirf'eiturc or to enforce luws or regulntions),then
<br /> �.�. �--
<br />- =-�-:.�..�.. L.ender may do and puy for whatever is necessnry tu protect the vulue of the Property and Lender's rights m t e openy.
<br />.��•.eC�.:S.�S .)
<br /> l.enderc actionR may include poying any sum�secured by u lien which hus priority over�his Security lntitrument,appenring
<br /> .,��a;.:°""'�.
<br /> .--.;,w�. in coun,ppying reusonnble s�ttorneys'fees und entering on the Propeny to muke repuirs.AUhiwgh Lender may �uke uction
<br />:J-a�:-�.'- under this parugraph 7,Lender dacs not huve to do so.
<br /> .,�r � • ' Any amounts disbursed by Lender under�his purugruph 7 shull becamc additianal debt of Borcower secured by this
<br />�`�'` ��-`�� Secu�ity Instrument. Unlexs Borrowcr und Lender ugrce ta other terms of puymcnt,thesc umounts shall beur intrres�from the
<br /> .�,�",;:�,�� date of disbursement vt the Notc rnte und shull he pnyablc, with Interest,upon notice from Lender ro Borr�wer reyuevting
<br /> 3,w�,.
<br /> i�;��ri:,�:':���:, payment.
<br /> S. Mortgage Insurance. If Lender reyuired monguge insurunce u�u cunJi�ian of making the loun secured by this
<br /> i�';�,.n,:=: Security Instrument, Borrower shall pay the premiumti rcyuired io muintuin the mortgage insurnnce in effecl. If, for uny
<br /> �..�y�.� ..,�i';;. . reaeon, the mortg�ge insurunce coveruge reyuired by I.ender lapses c�r ccuxe� lo tw in effect, Borrower xhull pny the
<br /> -��---- •' premiums reyuired to obtuin covernge substumiully equivulent to the rnon�;agc insurunee previously in ei'fect, ut u cust
<br /> ��w°� � subatwntiully equivulent to the coxt to Borrower of the mongage inxurance prev�ou�ly in ei'fect,from un ulternute mortguge
<br /> �'s�;.`"' insur+er approved by Lender. If substuntially cyuivulent mortgu�e insurance roveruge i�not uvuilable.Bortower shull puy to
<br /> T=.,��,�x:,��?•^'` .: Lender each momh u sum eyual ta one-twclfth of thr yeurly mortgugc insurunce premium being puid by Borrower when the
<br /> �"�""!� insurunce covernge lup�ed or ceuxrd w hc in effect. Lender will ucecpt,uxe und retuin thexe puymenn us u lasx rexerve in lieu
<br /> �'' :` of mon u e insurunce. Losx rescrvc a ment�mu no lon er he rc uired, s���he� t�on of Lendcr,if mort a c inhunuxc
<br /> _•�.�Irf�,.r�. B S P Y Y R N 'P � B �'
<br /> � coveruge(in the amount and for the period�hut Lender rcyuiresl proviJed by an insurcr upproveJ by l.ender uguin lxcome�
<br /> - �,.,. uvailublc und is a6tuined.Borcowcr tihull puy�he prcmiums reyuircd to maintuin mortFu€c insurance m rFfect.or to provide u
<br /> . .{� � �' loss reserve,until the r�yuircment for mortgage imurunre end�in uccordancr wi�h any written ugreemrn�between B�rrnwer
<br /> =',�'''� � � und Lcnder or upplicublc luw. -
<br /> ' • ' ��� ° •. � 9. Inspecllon. L�nder or its ugcnt muy mukc rcu.onublc entrics u�xm wx1 inx�xctiom ol'thc Properly. Lender.hull
<br /> .-� give Borrower notirc ut thc time of or priur to un inti�xction r�xrif��ing reuson�blc cuu.r ti�r the im�xction.
<br /> �.. ° ' I 10. CondemnBUon. Thc prixccd+ut'any awurd ur rlaim li�r damugc.. JiR��or con�cyucntiul,in ronncc�ion wi�h•rny
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