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<br /> ,o i- 4. ��� F�p�p��.}���urance.Borruwer shall inwirc all improvomenl�an Ihe Property.whether now in
<br /> V� exi�tencc or subsa�uently errctod,against e��y hazatds.cnaualties,and contingencies. including fire. Por which Lender requirea
<br /> ;h�;�rnnce. ThiR iruwraiue slwll be mainwiaed in tho amounts end for the periods that L,emler roqufres. Borrower ahall �Iso
<br /> � insu�e all improvements on the Property, whether now i� eaistence or subseyuendy crecied,egai�i�t ioss by l3aad�to!!se ertent
<br /> requlred by the Secretary. All insurance shall be cerrial with companies approved by l.�nder. The insarance poiicles and ony
<br /> rcnewals chall be held by L.ender and shall include Mss payable clouses in favor�f.and in u forn�occeptable to,L.ender.
<br /> -- � "_-_- _-__ ' � ln Qre event of lor�c. Borrower stwll give Lender immediate noticc by mail. Lcndcr muY meke proof of loss if not made �
<br /> ._ promptiy by Borrower. 8ach insurance cnmpany concemed is hereby authorixed and directed to make payment for such loss
<br /> directly to l.ender. insteAd of to Burrower and to l.ender Jointly. All or any part of the insurance proceedS maY�aPP�ied by
<br /> ''?'� L,ender. nt its option, either(a) to the reduction af the indebtedness under the Note und this Security Insuument.first to any
<br /> _=� delinqucnt nnwunts npplied in the order in paragraph 3,and then to prepaymenc of principal, or(b)ro the restaration or repair
<br /> - •��� of the damaged PropertY• Any upplicution of the proceeda ro the principal sh�fl not extend ar poel{wne the due date of the
<br /> �9°-`-:- Q''� monthly payments which nre rcferred to in paragraph 2,or change the amount of such payments.Any excess insurnnce proceeds
<br /> - °��- = over an umaunt require�to pay all outstanding indebtedness undcr the Note and this Security Instrument ahall be paid to thc
<br /> -�-'•'='� entiry legally entitled thereto.
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<br /> --==a=s�,��� In the event of forecMsure of this Security lnstrument or other transfer af tide to the Property that extingui es e
<br /> ,., indebtedneas,all�ight,tide and interest of Borrower in and to insurance policie�in force shall puss eo the purcheser. --
<br /> _:_� Borrower'e Lo� Applk�don;
<br /> �_...�.:.,: �:-,r�y�, S. Occupancy, Preservadon. Mainte�uance and Protoction ot We Property; --
<br /> .-�!�`�,: ,;r I,eASeholds. Borrower shall occupy. eatablis6, and use the Property as Borrower's principal residence within sixty deys ufter
<br /> ,,.�„:, y�'.ai the execution of this Security Instniment w�d shall continue to occupy the Property as Aorrower's principal residence for at least
<br /> " "" �=•.:�' one year after the date of occupAncy, unless thc Secretury determines this requirement will cuuse undue hardship for Borrower.
<br /> �%��`'�� or unless extenuating cinumstances exist which are beyond Borrower's control. Borrower shall notify Lenders of any
<br /> ���� � "= exte�uating circumstunces. Borrower shall not commit wacte or destroy. damage or aubstantially change the Property or allow
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<br /> _,;�;��, the Property to deteriorate,reasonable wear and tear excepted• I.ender may inspect the Prapeny if the Property is vacant or
<br /> t`" abandoned or the laan is in default. Lender may tak� reasonable uction to pratect and preserve such vacant or abandoned
<br /> �''�t0"'• • property. Borrower shell also be in default if Borrower. dudng the laan application pracess, gave materially false or inaccurete
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<br /> �� � informetion or statements to I.ender (or failed to provide[.ender with any materinl information) in connection with the loan
<br /> ;��-�' : evidenced by the Note, including, but not limited to, representations conceming Bc�ROwer's occupancy of the Property as a
<br /> _ •'°`',�"`..:-� ��- pdncipul residence. if ti:is Security inairw�ient is on a lcaschold, Sorrowtr�hnll cnmply with the provisions of the lease. If
<br /> _�'�'� " BoROwer acquires fee[ide to the Property,the leasehold and fee tiUe shall not be merged unless Lender agrees to the merger in
<br /> -„ -�;�f"'`'.���• wdting.
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<br /> �'��`" �'� 6. Charp{es to Borrower and Protection of Lender's Rights in the Property Borro�n'er shall pay all governmental or
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<br /> . - ,. � -�;,. ' municipAl charges, fines w►d impnsitinns thut arc nnt included in puragraph 2. Borrower shall pay these obligations on time
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