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<br /> _ � • Qerlodr tbat Lender roquirw. '1?�e incurance c�rrkr�xovidiry��he inwru�ce ih�ll be ch ��en b Borroiwer wb�joct7�L�ead�rti
<br /> approv�l which sh�tl not be unro�ansbly withheld. If Ha�r�ower fdis to m�lnt�in cavora�e de:c�ibed�eove,l�ender rt�y�at
<br /> i.endcx�s optian.uMrin covera�c to protxt Lenckr�dQht�in the Pt+q►erty in�ccord�nce wl�h p�tr��nph 7.
<br /> All insuruue poUciea�nd rrnew�is:lull be accepkable to Lender u�d sitxll include��tandud mortQ��e clwu. L.endor
<br /> rhall have the ri�ht to hold thc policks md rcoewds. If Lender royuircs.Borrower shall promptly�tve to I..ender all nx:eipti
<br /> of p�id prcmiumu u�d renewal notices. [n the event of loa.Aorrowu sh�ll�ivo prompt uolice to the iruunnce artkr rtd
<br /> __ _ L.ender. L.ender may make proof of loss if nc►t mAde p►omptly by Bort�nwer.
<br /> _�� ------� ' Unleas Lender and Bamwer othe�wise agree in wdting.insurance proceedc shaii bo appliod to rcxtor�tinn ur rcpair u)
<br /> the Property duneged, if�he rcston�tion or reprir ic tx,onomically fe�siblo and Lender�s �ecurity is nat kceuned. If the
<br /> — rcstoration or rcpair is not ecanomic�lly fansible ur Ixnder'�securiry would be leasened, the incurmee proeooda sh�ll be
<br /> applied to the sums securcd by this Secur�ry Instrument,whether or nat than dua, with any excess paid to B�xrower. If
<br /> Harrower abandons tMe Prope�ty.or das nat answer within 30 days s natice from Lender th�t the incurence curier hus
<br /> offered to senle a duim,then Lender may wUect the insur�nce pcnceods. I.ender may use tho proceeds to rcpair or restore
<br /> __.� _ the Propeny or to pay wms secunod by this Socurity Insuument,whether or not then duo. The 30-day period will be�in when
<br /> _ thc notica!s g(ven.
<br /> __ Unless Lender and Borrower othenvise agnee in writing,any applicati�n of proceedc to principal shull rat extend or
<br /> postponc the due dute of the monthly payments refemed to in paragraphs 1 and 2 or chungB the amount of the payments. If
<br /> _ , under paragraph 21 the Property is acqulred by Lender,Borrower�s right to any insurance policies and pmceed4 resulting
<br /> - ---=_--- • from damuge to the Property prior to the acquisition shall pass to Lender to thn extent of tho sums securcd by this Securiry
<br /> --- - Instrument immediately prior w thc acquisition.
<br /> '�"""'T'� � 6. Occu{wacy, Pc�rvadon, Mainteoance and Protection ot the Property; Bormwer's I.oaa AppUcallon;
<br />__ � Ltoseholds. &xtower shall occupy,establish,end use the Prnperty as Rorrower F principul[+esidence within sixty daye after
<br />�� .�• .� � the execution of this Security Instrument and shnll continue to occupy the Property as BoROwer�principal rcsidencc for at
<br /> �� �.�r,
<br /> �;;�� � least ane year after the date of occupancy. unlesx l.ender otherwlse ag�+ees in writing, which consent shall ncx be
<br /> ,.1:1��_., . I unmasonably withheld,or unless axtenuating circumstances exist which are bayonQ Borrowers control. Borrawer shall not
<br /> °' � destroy.damage or impalr the Propetty,ellow the Properq•to ckteriorate.ar commit waste on the Property. Borrower sbull
<br /> •.. ' be in default if any farfeiture action or proceeding,whethtr civil or criminal,is begun that in L.enderg good faith judgment
<br /> � ;i�?i+'., '•' � could result in forfeiture of ihe Prope�ty or othenv9se materially impair the lien cr+eated by thiF Security Instrument or
<br /> ,��?• ”';' :•'��;. 1 Lender s security fnterest. Bortower may cum such a default and reinstate,us provided in paragraph 18,by causing the action
<br /> �';i" or procceding to be dismissed with u ruling that,in Lender�good faith determinntion,precludes forfeiture of the Borrower's
<br /> �';�,:� interest in the Property or other material impainnent of the lien created by this Secudty Instrument or Lenderk security
<br /> .; interest. Borrower shall also be in default if Horrower. during the loan application process, gnve materially false or
<br /> ..�,;: '� '� ' inuccurnte information or atatements to Lender(or failecl to provide Lender with any matarinl information)in connection wIth
<br /> ' `" r '� the loan evidenced by the Note. including, but not limited to. reprcsentutions conceming Borrower's• occupancy of the
<br /> :'�;,,
<br /> _ � ,y,. . F+�a�x�-►ty as a principai reside�ce. If this�ecurity lnstrumcnt is on a lca;ehotd,Basmu�z:;hat!comply�:ith al!she pro:�isions
<br /> ;;;�`• � : . , of che leure. If Borrower acqaires fee tide to the Property,the leasehold and the fee title shull nat merge unless Lender ag�ees
<br /> . . . ` to the merger in writing.
<br /> ��',� •� , 7. Pratect(on of I.ender'a Rights in the Property. If Borrower fails to perform the covenunts and ag�eements
<br /> ���' �� contained in this Securiry Instrument,or th�re is u legal proceeding that may signtficantly affect Lender's rights in the
<br /> . • Propeny t�uch as a proceed9ng in bankruptcy,probate,fur condemnation ar forfeitura or to enforce Inws or rcgulutions),then
<br /> ,'.�; Lender may do;►nd pay for whatever is necessary to p�otect the valne of the Property and Lender's rights in the Property.
<br /> Lender�actions may include paS�ing any sums secuted by a lien which has priority over this Security Instrument,appearing
<br /> , � '' � in court,paying rcasonable attorneyx'fees and entering on the Property to make re�uirs.Although Lender may teke uction
<br /> under this paragruph 7.Lender does not have to do.o.
<br /> Any amounts disbuned by Lender under ihis paragraph 7 shaU become ndditianui debt of Borrower sccured by this
<br /> ` �''� ' _ Srcurity]nstrument. Unlexs Borrower and Lender agree to other ternts of puyment,these amounts shaU I�esr interest fram the
<br />�,. � date of disbursement at the Note rate and shall be payable,with inrerast,upon notice from Lcnder to Borrower requesting
<br /> • . .. . . payment.
<br /> 8. Mortgu�e Insurance. If LenJer reyuircd mongage insurunce us u condition of muking the loun secured by thi�
<br /> . . _. , f Security Instrument, Borrower sholl pay the premiums required to muinwin the man�uge insurunce in effect. If,far anp
<br /> �� rcaxon, the mortga�e insurance covcragc rcquircd by Lender lapscs ar ce�ise� to be in effect, Bamwer shall pay tlx
<br /> � p�emiums reyuired to obtain coverage subst:mtially eyuivalent ta the mort�u�r inxurance previously in effect,at a ecnc
<br /> • substantially cquivalcnt ta the cost to Borrowcr of the mortgagc inrunincc pr�viou+ly in cffect,from an altcmate mortgagc:
<br /> insurer approved by Lcnder. lf subYtuntially cyuivalent mortgnge incurnnce coveragc is not uvnilable,Borcowrr shall�pay tn
<br />, ' Lcnder euch month a�um eyual to one-twelfth of the ycarly mortguge insuaince premium tx�ing paid by Borrower when ttr:
<br /> . _��'��'��i 1'�• in�urnnce c�verage I:tp�ed or ceased to he in effect. Lender wiil uccept,uk and retain thex payments us a loss reserve in lieu
<br />_ , �,�i,�'::+$':; "••'� ot mortgugc insurance. Losz rescrvc payments may nu longcr be rcyuirt:d,ut thc option of Lendcr,if mongage insurwsc�
<br /> coverugc(in thc amount and for ihc period ihat Lender reyuirr:s)pr�vided by nn insurrr upprovcd hy Lendcr ugain becornes
<br /> availuNle und is obtuincd.Bortower shull pay the prcmiums reyuimd to muintuin monguge inwrancc in effect,or to�rmide a
<br /> Y ~� � Ims reserve,until the rcyuirement for mortgage imurance ends in accardance with any written ugreement between Bormwer
<br /> and Lender or applicablc law.
<br /> ' ►u„��� 9. Inspection. Lender or its agcnt may makc ma.onahle entrie�u�n:md im�ctiun�of thc Pmperty. Lender sh:il!
<br />,a�;.' `: .. .._ . give Borrower notic�•rt the time of or prior to an in.pertion specifying reasonable caure ti,r the in�pection.
<br /> �"' ' 10. Condemn�tion. The praeeds of any award or claim tiir damages,dinrt or conreyuential,in conn�^ctioe�with an�•
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