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<br /> • 3. H�zard or Proporty In�ur�ace. Barrower ehzU renp the tmprovementa noM etl�tin�or here�tter erooted on
<br /> the ProperKy ineurad a�intt lo�by tjre,haurds Included NIthin the urm 'exunded coven�e"and�ny other hsxarda,
<br /> inciudir�tloods or tloodin�ia which Lender r«lutca ir�s►�rnncs,T'hiR iruuranoe�hall be maintained in the�mounw _
<br /> ---- - and Cor the pertod�thtt Let►der requtra. The in�utance carrier providinQ the ituurance�hall be chaen by BorroMer
<br /> — _ subject to Lender's approv�l whtch ehall not be unra�onsbly withhold.lf Bortower fail�to maintain covenQe descrlbed
<br /> - -- �bave, l.ertder may.at Lender'�opdon,obUin oova�a�e w protect Lender'�riQht�in the Property in acxordmce with
<br /> 7.
<br /> � a�Alline�uance polictee md renowels stull be socepuble to I.ender and ehall inolude�stmdard mort�a�e claure.
<br /> �:�'"-'�"' — Lnnder shall hr�va the rlQht to hold the policIes and renewale. !i Lendcrrequiree, Aormwer ehsil pmmptly give u� __
<br /> — Lender a11 ncaIpta of ptd prtmtuma and raneNal nottcas.In the e+vent oi loe�,Borro�er eh�ll �ve prompt nodce to the
<br /> . {�� insunnca catrier and I.ander.Lender msy m�ke proof ot loes tf not m�de promptly by Ho�rower.
<br /> �------ Unlees I.ender and Borrawer otherwiae��roe in writin�,inaunnce proceeda shall bo appliod ta rastor�tton or rep�ir
<br /> _— - - -- o f t h e P ro p e r c y d a m s�e d.t f t h e r e s w r a t i o n o r r e p�t r ts aconomtcall y imstble and Lender's aecudt y ie not leeBened.If sha
<br /> —_ ��_, reetocation or ropeir is not economically faei ble or I.onder's secucity would be leeeened,the Insurance procoede sh�ll be
<br /> ___ �_,---,,,o.�,,.,,�n.,,..,,, applied to the aums secured by this Securtty lnstrument,whether or not then due, with any eYCCSS p�id to Borrower,lf
<br /> �����:� Borrower abandone thc Properey,or does not answa aithin 30 days a notivo from Lender thst tho iosurance carr�er hss
<br /> --_�--;�;y�;:� oftered to aettle s claim, then Lender msy coltxt the insurance proaeds.I-ender may use the proceeds to repair or
<br /> �i �!�:._ c, reswro the Property or to pay aums eeoured by thia Security Instrument,whether or not then due.The 30'diy pertad will
<br /> pt;� be�in when the notia is given.
<br />-- s`��'�`_� Unless[.ender and Borrower otherwise agroe in writinQ,any application of procxds to principal ahall not extend or
<br /> � 1�tc�.<
<br />__ ' ..5�.. pc�atpone the due dste o[the monthly paymenta reterrod to in parayrapha 1 and 2 or chan�e the amount of the p�yments.
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<br /> _., ���+� If underparagraph 21 tho Property ie acquirod by Lender, Borrower's rl�ht to any insuranco policies�nd procoeda
<br /> :��`�;;,�� resulting from dumage to the Property prior to the�cquts[tton ehalt pase to Lender to the extent of the sums axured by
<br /> ���� this Security Inatrumant immediately prior to the acquiettion.
<br />'� ,,,� .�_;`:�;':'-`�>�.'i r�. 6.Acoupancy.Presesvation,Mainteu�nce�ad Protection oi the Property;Borrower's I.oaa Applicatiun;
<br /> ' ' ' Lwseholds.Borrower shall occupy,esublish,and use the Property as Borrower's principal residence within s►xty days
<br /> �.�.,y..�;:�,�:,,w••,_ after the execution oi this Sexucity Instrument and sh�ll continue to occupy the Property as Borrower's principal
<br /> i,�r r'. ' residence for at least one year atter the data of occupancy,unlcsa L,ender otherwise agrees in wrIting,which conr,ent shall
<br /> '�`"'�''� F.;•�•�� ` rtot be unreasonably withheld.or unlesa extenuatin�circumstancxs exist which sro bayond�3orrower's control.Borrower
<br /> "•"�'�'`Fn'�`• •::� ehall not deatroy.damsge or impair the Propercy,allow the Praperty to deterionte,or commit wsatc on the Praperty.
<br /> �. .."`.'�'°�;�:�"` � Botmwer shall b�in default if my fortettun action or proceedinY,whether civil or criminal. is be�vn ttut in l.ender's
<br /> .J��! �� 4 'ti" �
<br /> ,•.;_, k�:�� �ood faith jud�ment cauld rosult in for[eiture of the Property or otherwise maurially impair the tie�cce+�ted by thie
<br /> r�:': � " Secority Instrument or Lender's sxurity inteeest. Horrower may.cure such a detnult and reinstate� as provided in
<br /> ; - '�•��''' '' pan�raph 18, by causing the actton or proceeding,to be dismissed with a ruling that, in I.ender's good faith
<br />' ,�.��ls i��.'-:n:���_' �ietermma�iun,Prwtu$e�c forfeituraof ths 8arrowcr's�nt$r�t in the Property or othsr mater_a1 isr.geirm►nt o�th�liPn
<br /> �'-'`«�' crated by this Security Instrument or Lender's security,interest.Borrowar shall also ba in detault it Borrower,during
<br /> �''��-���- ��'�•' ' � ' the Iwn aQplication process, gave maurially f�tlse or �naccurate intormation or statements to Lender(or failed to
<br /> ::r�:�:�.�.�:.. ,,. :
<br /> „�,..: .,, , prnvide Lender with any msurial information)in connection with the losn evidenced by the Note,including,but not
<br /> � limited co. representstions concerning Borrower's occupancy of the Property as a principal residence. It this Security
<br /> ' '' Instrument is on a lessehold,Borrower shall comply with all the provisions of the lease.lf Borrower acquires fee title to `
<br />:; .�.�_� . � the Property,the le�sehold and the fae title shall not merge unless Lender agrees to the merger in writin�.
<br /> �• 7. Protection of Leader's Ri=hts in tbe Property. If Bornower faila to perform the covenants and a�reementa
<br /> ' - � conuined ic►this Socurity Instrument.or there is a legal proceeding that may si�nifiantly affxt Lender's righta in tho
<br />- I'roperty (such as e proceeding in bankrupicy, probate, tar condemnation or forfeiture or to entorce laws or -
<br />-�;,,_' -��` " ;.;,� rcgulations),then Lender may do md pay tor whatover is necess�ry to protact the value of she Property and Lender's -
<br /> _�, ..- '. . ` rights in the Property. Ixnder's actions may include paying any sums secured by.a lien which has pnority ovar this f
<br /> ,�� : �+�, Security Instrument,appearing in court,paying reasonable attorneys foes aad entenng on the Property to make cepairs.
<br /> � "�' " `� '� ' AlthouQh Lender may uke action under this paragraph 7,Lender does not have to do so.
<br /> '.'•'�{"��'� � Any amounts disbursed by I.,ender under this Mragraph 7 shall become additional debt of Borrower socured by this
<br /> , ,,,... , ,
<br />: � � }�.:,•� . � �'� Security lnstrument.Unless Aorrawer and I.ender a�ree to other terms of payment,these amounu shall bear interest
<br />- m.�x�•.,.,;., ;:.- from the date oi disbursemrnt it tha Nou nte and shall be payable,with intorest,upon notice{rom Ixnder to Borrower
<br /> :.,; .,.-:.. •
<br /> �•..� : roquestin8 PiYment.
<br /> •t• � � ' 8. Mort=a�e Insnrance.If I.ender required mortEage insurance as s condition of making the loan secured by this
<br /> '' • Security Instrument,Borcower shall pay the premiums required to maintein the mottgage insur�nce in effxt.If,tor anp
<br /> '''� 1 . '� - I; -,, reason. the mortYage insurance coveragc required by Lender lapses or ceases to be in etfect,Barrower shail piy tho
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<br /> -^x;;, �� ti. . premiums requiroid to obtain coveraEe substanti�lly equivalent to the mortEage insunnce pceviously in eftect,at�cost
<br />- �.4�,;;,;;, . substantie l ly equiva lent to t he cost to B orrower o f t he mortgage insurance previous ly in e t fect,i ro m an altom�ta
<br /> ,x,����� mort�aga ir�suror approvod by Lender. If substantially equivalent mortQa�e insurance coverage is not availeblo,
<br /> ; � ;;,:,. , Borrower shall pay to I.ender ach month a sum oqual to one�welfth of the yearly mortgagc insnrsnce premium being
<br /> •� ', � ,'� � paid by Borrower when the insurance cover�ge lapeod or ceased to br in etfect.Lender will accept,use and retain th�e
<br /> -- 't*���'�r-• ; psyments as a loss nserve in lieu oi mort�a�e insurance. Loss reserve payments may no lon�er be cequirecl,
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