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<br /> •perludi tlwt l.ender roquiro�. The in�urance carrier providinY thc intiurance shaQ 6e ch��y BorRW�i�°°�°�`��nderc
<br /> appruvRl which ihall�wt be unrcrwonably withheld. If Bocrower frils to maintain covcra�c de�ribed abovc.Lendcr muy,at _
<br /> Lenrkr?�optian,obtain coverage ta protect Lender a rights in tho F'ropedy in uccordunce with purugraph 7.
<br /> AI!insunace paliciey u►d rcnewal�:�hu116e accepteble to Lender and sholl include u stunJard mortgagr rluuse. l.ender
<br /> rhall have the rFght to hald the palicie:+w�d rcnewals. If l.e�uier r�yuirrb.Bartower shali pmmptly givr to I.enckr uil receipt�
<br /> of paid prcmiumx arid rcnaw�l notices. !n the event of losz,Sarcower shull�{ive prompt t�utice tu�Ix�insur+mce crurie�:u►d
<br /> ------ Lender. L.ender may make�xoof of losx if not mude promptty by Barrawer.
<br /> -- - -- Unlctis I.cndcr and Borrowcr othcrwisc ngme in writing,insurance pnxcedx shatl he upplicd to restaratiun or repair of __
<br /> the Propeay damnged, if�he restornUan or repair iY ecunamically fe�tiible and Lender's accurity is nw Iesrened. If the �
<br /> = restoration ar rep�ir is not economic�liy feusible ar L.ender�security would be Iessened,the insurunce proceeds shall be
<br /> ---- applied to thc sams secured by this Security In+trument, whether a�not then due, with uny exress p:►id to Borrowcr. If
<br /> Borrawer abandon�c the Propeny, or doea not unswer within:tU dayx a natice fram l.ender that the lnsurunce currier huti
<br /> offered to settle A clnim,ttun Lender may collect the insurunce pruceeds. Lender may use the proceed.r•ro repair or rextore �
<br /> — the Property or to pay sums secured by this Security Instrument,�vhether or not then due. The 3U-day period will begln when �
<br /> ---°---�-� the notice is given. —_
<br /> Unless Lender and Borrower otharwise agree in wrlting,uny Application of proceed.r•ta principal shull not extend or
<br /> postpone the due date af the monthly puymcnts referred to in paragruphs 1 and 2 ar changc the amount of thc payments. If
<br /> under parugraph 21 the Property is acquired by Lender,Borrower's• risht to:►ny lntiurance palicies and proceeds resulting —
<br /> from damage to the Propecty prior to the acyuisition shall pass to Lender to the extent of tfu:sums�ecured by this Security —
<br /> Instrument immediatcly prior to the ncquisition. _.__
<br /> == 6. Occupuncy, Pres�rvation, MAintenance and Protection of the Property: Borrower's Loan Applic�►tlon;
<br /> =�"� Leaseholds. 8ortower shall occupy.est:�blish,and use the Property as Borrower's principul residence within sixty days ufte� �
<br /> - � the execution of this 5ecuriry Instrument and shail continue w uccupy tl�e Propeny as Borrower's principal rcsidenee for ut __
<br /> least one year after the date of occupuncy, unless Lender otherwitie ngrecs in writing, which wnsent shall not be �
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<br /> unreasonably withheld,or unless extenuating circumstunces exist which a�e beyond Borcower:cantrol, Borruwer shull not ��
<br /> desuoy,damage or impair thc Piroperty,allow ihc Property to deteriorate,or commit wastc on thc Property. Borrower shaq �,
<br /> be in default if any fodeiture action or prweeding,whether civil or criminal,is begun thut in Lender's good fuith judgment �
<br /> -,,., ,�. , could result in forfeiture of the Property or otherwise materially impair the lien crcuted by tbis Security Instrument o� �
<br /> • . ;`t' Lender's security interest. Borrower may cure such n defuult nnd reinstate,us provided in par�gruph I8,by cuusing the uction
<br /> ' v� '�'��� or prceeeding to be dismissed with a ruling that,in Lendcr's good faith dcterminution,prccludes forfciture of thc Borrawer's
<br /> w�'�'�, interest in the Pruperty or otfier material impairtnent of the lien creuted by this Security Instrument or Lenderk security �`'
<br /> ,..�>;,�':::.
<br /> =' „ �a�•. interest. Borrower shall also be in defuult if Bonowcr, during the loan npplicution proceti+, gavc materiuUy faltie or �=
<br /> .ie!+:_` �
<br /> _ ,:,,��,,..;�.. inaccurate information or statements to Lender(or failad to provide Lender with uny mutenal infortnation)in connection with
<br /> , . %� -�`;, ..*��.• the loan evidenced by the Note. including, but not limited to,repmsentutions conceming Borc�wer's occupuncy of the �
<br /> __ . � � Property as a principal rc�idenca If this Security Intitrument is on u Ieuuhold,Borrower shuU comply with all the provision� �'';`
<br /> "��'��� `�� '^``• of the lease. If Borcowcr acquires fcc titic to thc Proper[y,the leasehold und the tee t�tie shalt not merge uniess Lcnder agrecs =
<br /> . .
<br /> . � . '� --
<br /> '` '`� "': ..: •.. , to the mergcr in writing.
<br /> 7. Protection of Lender's Rights in the Property. If Borrowcr fails to perfocm the covenants and ugrcement� —
<br /> �� � � contained in this Security Imtrument, or there is u Iegal pracceding that muy +ignificuntly nffect Lender's rightx in the --`
<br />- . . . •• Property(such as a proceeding in bankruptcy,probate,for condemnation or forteiture or to enforce law�or regulutionti),then �,_
<br /> .� Lender may do and pay for whatever is nccessary to prutcct thc vulue of the Propeny und Lendcr: right� in the Praperty. �e
<br /> � ' " Lender�actians muy include paying any.umti+erured hy a lien which ha�priority over thiti Security ]ntitrument,nppearing �:-
<br /> �� in court,paying reasonahle uttomey�'fee,und emering on the Property to m•rke repuirti. Although Lender muy tnke nction �`•
<br /> � � � • � under this paragraph 7.Lender doe.not huve to du.o.
<br /> ' Any umounts dishurscd by LrnJcr undrr this purugruph 7 ,hall txc��mc additiunal dcbt of Bormwcr xrurcd by this
<br /> _ )'''•°•�� �•�� "' Sccurity Instn�ment. Untcs.Borrowcr and Lendcr i�grer tu othrr tcrm�uf pa,�mcnt,thrsc c+muunt��hull Ixar interest from thc __
<br /> �� date of disbursement at thc Note rate und.hull tx piiyublc,with intrrc+t,u}xm noticr from Lender to Borrower myuesting
<br /> �• payment. • �
<br /> 8. MortRaRe Insurpnce. If Lrndrr reyuir�d mortgugc insurunrr a� x cundition of muking thc Ioan serured hy this
<br /> ; " Security Instrument, Borruwrr.hall pay thr premiums requimd lo muintuin thr mottguge inxurancr in eff'ect. If, far uny �='-
<br /> . "' ' reason, the mortgagr inxunmrc rovcragc rcyuirrd hy LrnJer lap.r. or cra.rti tu bc in ef'fert. Borcowcr shall p;►y the
<br /> prcmium� reyuircd to obtain covcragr tiuh�t:mtially ryuivalent tu thr murtgage inwrancr prrviuutily in rffert, at a co�t �
<br /> • • � substuntially cquivulent to ihe ri��t to Borrower��f thc mungngr in+urancr prrvioutily in effrct,from an altem�te mong:►ge �
<br /> insurer upproved hy Lender. If�ub.tantiully cyuiv.d�m munga�r in.uranre ruerragr i,not availahle.Bnrcow�er sh►�Il pay to --.
<br /> Lender each month a�um equal to one-t�vrlfth of thr�•curl� mortg:ige m�uranre prrmium Ixing paid hy Burruwrr when the ��-
<br /> • , insurnnce coverage lapsed or rea�ed tu Ix in cfl�rt. Lrndrr W iU:�tre�t.u,e and rrtain thr,c paymrnt.ati u lox.reserve in lieu �`"'
<br /> of mongage imurance. Lo., re.rrve payment,may nu lunger ix rryuir�d,at thr��ptiun of Lender. if mortgage in+urance
<br /> � , covcragc(in thr umaunt Und tiir thr�xriod that Lrndrr r�yuirctil prucidrd h�•an imur�r appru��cd hy Lrndcr aguin Ixcome�
<br /> . ._" . available and iti obtained.Burr��wrr,I�all pa�• the premium�rryuireJ tu maintain m�,n�:agr imurancr in effcct.or to pro�•ide a �
<br /> ��� losti teserve,until the rcyuirrment tiir ntutlguge in�uranrr rnd+in arcurd;inrr��ith an��w•ritten u�;recment txtw��n Bormwer
<br /> und Lender or appliruble I:n�•. �
<br /> 9. Inspection. LrnJrr or it.agrnt may makr rra�un:�hlr cntrir.upun and im�xctiun.uf thc Pn,�xrt�. Lrndcr�h;+U �
<br /> � : � givc Borrowcr noticr at the timr i�f ur priur t��an in��xrtiun.�xrifying rea,unahlr rau,r ti�r thr inti�xrti�,n.
<br /> '.� :. � I0. Condemnatiun. 1'hc procecd,of an� a��ard ur i laim fi,r damagc,.dirert ar r„nu��ucnti:�l. in runncrtion with:►ny �
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