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<br /> s. H�ard oc pmppty Imurance. Borrnwer ch�ll keep the improvemuta now exluin�� horo�'�i'6Ct�'aff the
<br /> --- -- _. — Pe+c��eriy inwr+ed�wln�t locc bv fire. hsUU+d�includod within tha term "extaided cover�e"�nd�ny other tuurds. includin�
<br /> floads ar f]ooding. for which I.ender requirrs insuranoe.'1'hir inwrsnoe shall be m�fnt�ined in the u�munu iud for uio pericxi�
<br /> that L.a�der requ{rer.The insurance canier pmviding tt�e inaurance slwll be chosen by Borrower snbjoct to Lender's�pprov�l
<br /> which shall not be unrcasonably withheld. If Bonower fails to mrintain coverage descdbed above. Lender may, �t Lerider's
<br /> ---- option,obtain cove�age to protxt l.endat's rlghts in the Praperty in accordance with paragraph 7.
<br /> All insu� policla and nnewslc shall be AcceptAble ro Le�xJer and shxlt include x atxndard mongage clause. l.ender
<br /> -_ -----_— - shall have she right to hoid the policies and rcnewals.If Lender roquireF, Borrower shall promptly give to l.ender all receipts of R_
<br /> ps�id pmmlums and renewal notices. In the tvent of loss.Borrowe�stWl Qivc prornpt natia to the ituurancc carrler wxi Lender.
<br /> L.ender may make praof of loss if nat made promptly by Borrower.
<br /> Unless Lender and Borrower atherwise ngru in writing,insurance proceais shell be appliod ta restoration ar repair of the
<br /> # property diunuged.If the restoratian or repair is uonomicelly feasible and L.ender's security ls nat lessened. If tha restoratian or
<br /> — - repAir is not economic�lly fcasible or Lender's cecurity would be lessened, the insurar�ce pracoods shall be applied to the sums
<br /> — ---v------ secured by this Secudty lnstrumcnt, whethor or not then due, with any excess paid to Borrower. If Borrower abandons thc
<br /> Property, or daes not answer within 30 days a notice from Lender that the insurance carrlcr has offcred to settle a claim, then
<br /> Lender may calixt the insurance procceds. Lender may use the praceeds to repair or restore the Property ar to pay sums
<br /> � socured by this Security Instrument.whether or rwt then due.The 30-day period will begin when the notice is given.
<br /> Unless L.ender and Borrowor otherwise agroe in wr�ting, uny application of praceeds to principal shall nat extend or
<br /> =-- postpone the due date of the monthly pAyments referre� to in paragraphs ! and 2 or changc the amount of tho paymenis. If
<br /> �$, under paragraph 21 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting from
<br /> damagc to the Property prior to tiic�cyuiaitfon shAU pess to l.endor to thc extcnt af the sums secured by thls Security Instrument _..
<br /> - immediately prior to the acquisition.
<br /> � . ,�.. 6.Occups►ncy, Preservation,Maintenance and Protecdon of the Property;Burrower's I.oAn Applicr�tic►n;I.easeholds.
<br /> Borrower shali occupy.establish,and use the Property as Banower's principal residence within sixty duys after the excxution af
<br />- this Security Instrument and shall continue ta accupy the Properry as Sorrower's principal residence for at least one year aftai•
<br /> the date of occupancy,unless L.ender otherwise agrees in writiag,which consent shall not be unre.�sonably wlthheld.or uniess
<br /> extenuating circumstences exist which ure beyond Barrower's control. Borrower shall not destroy, damage or impsar the
<br /> � Property. allow the Property to deterior�te,or commit wastc on the Property. Borrower shal! be in default if any farfeiture
<br />-° action or procecding,whether civil or criminal. is begun thut in I.ender's good faith judgment cauld result in fort'eiture of the
<br /> � Property or otherwise materially impair the lien created by this Securiry Instrument or Lender's secutity interest. Borrower may
<br /> �� �� curc such a default nnd reinstate,as provided in pacagraph 18,by causing the actian or procceding to be dismissed with a ruling _.
<br /> - !��`' .� ti�at, i�� L.e�xicr'� good'faitt� detcrminatian, prccludca forFeisure of the Borro�ver's intctmst itt the Pm�rty or other material
<br /> '�t��-•`• • impaimient of the lien created by this Security instrument or Lender's sccurity int�rest. BoROwer shall also be in default if
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<br /> ...��i:, ..;,y�.;;r.�5;;�;k Barrower.during the loan�ppliaztion process,gave materially false or inaccurate information or statements to Lender(or failed
<br /> '���- -• ���'°• to provfde Lender with any materic►1 information)in canncction with the loan evidenced by the Note,inrludin�. but not limited
<br /> '"�%"'�"'��:�'�}""` to,representatians concerning Borrower's occupancy of the Property as a principal residence. If this Security Instnirnent is on a
<br /> ,;;,�.,. � ,:t _;: � lea+elwld, Borrower shall comply with uU the pro�•isions of the lease. If Borrower acquires fee title to the Propeny. the
<br /> • ' leucehold�nd the fec title shall not mcrgc unless L.endcr ugrccs to the mcrgcr in writing.
<br /> �"=`���'•• �� •�� 7.Protectton of Ixnder's Ri}�hGs in the Proprrty� If Borrower fail�to perfi�rm the covenants and ogreements contained in
<br /> �,, ���"� �� � � } this Securiry Instrument, or there is u Iegal prexeeding that may significantly uffect Lendcr's rightc in the Property (such as a
<br />-� '�;�,r: praceoding in bankruptcy,prabatc, fi�r condemnution or forfeiture or to cnfirrcc luwr or regulations), then Lcnder may do and
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<br /> x�:'.��:•�: pay for whate:ver is necessary to protcct thc vuluc of the Property and l.endcr's rightti in the Pruperty. [.ender's actions may
<br />-�, ��r��-*-rr W�- • i�clude paying any sumx yecured by u lien which has prinrity over tliis Security Instrument, appeuring in court, paying :_--,:_
<br /> �: , '����� � �' rc�sonablc attorneys'fees and entcring nn the Prapeny ta make repairs. Although Lendcr may tuke action under this paragreph �
<br /> ' `�"��'�•`��` "�'�'�`� 7.I.endcr dc�c.r•not havc to do so.
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<br /> '°` Any amounts di�buned by Lcnder uixicr thi�purugraph 7 shall hec�xnc additiunul debt of Bnrmwcr scrurc�l by this _
<br /> ��°�:'.��•r Security Instrument. Unless Borrowe� and Lendcr agrce to other tcrnis of paymcnc, thcsr amuunt�shall bear inurest from the _-
<br /> `•';�:.;•, „ ' date of dixburscment at the Note rate und shall be payable, with interest, upem n��tice t'rum Lender to Borruwer requetiting
<br /> ��. �: .y .,..•;"�" paymcnt.
<br /> _• 8.Mottgage Insutpncr.If Lendr.r rcyuired nwrtgage intiurance as u co�xiition uf making tlu luan xtiured by this Security
<br /> �'x `-'�� ` - Instrument, Horrower shall pay the premium, reyuircd to mt►intain thc mortgage in,urancc in effcct. If, for any reaum, the
<br /> - �� mortguge insua►nce coveruge reyuired by Lendrr lapses or ceasc�to Ue in effert.9��r�aw�r�hall pay the prrmiums r��yuir��d to
<br /> "� ,, q,::� . obtuin crnera�e substantially equivulent t��thr nx�rtgage insur•rnce previnuxly in etfect,•rt a ru,t,ubtituntially equivulent to the r=�
<br /> - � `���,,;;`°;�•-' cost to Borrawer of the mnrtgagc insurancc prcviausly in et'fcrt, from an altcrnatc nmrt�agr insurcr approvcd by I.ender. [f
<br /> ��. `� • �i�`'��'��: substantially equivalent mortgugc imurrnre coveruge is nnt uvailahle.&�rr��wer .liall pay ta Lendcr carh month a sum cyual to
<br /> S.. �,,�.i.,'�,:._''.'���`!'' , one-twe(fth of the yeurly mortgrge insuranre premium being paid by�&�rruwer wlicn the in�urancc coverage lapscd or cca�:ed to
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<br /> ° ' � � •� `� be in effect.I.ender will accept,uu;und retain theae p�yment,ati a lass r�serve in lieu ot' mongage insurance. L.otis rescrve
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<br /> .� , �.,_ Fam 3028 9180
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