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<br /> . ' S. Ii�aard or Property Insunnce, Borrower shdl �oep the improvements now exiating on c�nu[tor cra:ted an
<br /> °• the Property ituurod a�imt la�by tiro,haucds tncluded within the tarm"eYtendod covera�e" and any other haurda,
<br /> tncludfn�tloaL or�loodin�� for whioh Lender roquirae lnsuranco.Thia lnsurance sh�ll be m�int�ined in the�mounts
<br /> � 4A,�� �nd[or the pertod�ttut I.er►der requira, The Inaucance carrIer provtdin�the insuranoe shdl bo cha�en by Harrower
<br /> aubject w l.ender's approval whIch shall not be unrasonably w�thhold.If Horcower t�tle tc�m�intain coveraQe deecribed —
<br /> `,`.S'". above,Lender m�y,at[,ender's optton,obt�in cover�eo to protect[.ender'e riahte in the Property in�xord�noe with
<br /> '� %��,��i�' P�r�raPh 7.
<br /> ,�.,�����°►� Ali inaunnce palictae u�d renewals stull bo ac�xpuble to Lender and shdl include a ahndard mortp,a�e cl�ure.
<br /> �_;,��, . :� ° I.ender stull hnve the riBF►t to hold the palicies and reneNnls.If I.ender requires, Borro�ver ahell promptly rive to - -
<br /> ` T Lenda all reoeipte of p�id pramiuma and renewal nottas.In the event of loss,Borrower ehall�ive prompt notice to the
<br /> �•'��� �=� �� .�-����-<<- iruucanoe arrier and Lender. Lender may m�ke proof of loes tf not made promptly by Borrower.
<br /> ,-- Y ' . Unlees L�rnder and Borroaer otheraiae��rca!n writina,insucance proceeda shall be applied to re3toration ur rcp�ir
<br /> _.,� �''�''�� � � - '� of the Property dama�ed,it the reswation or cep�ir is economic�lly ie�sible and L.ender s sxurity ia not lesacned.It the
<br /> _ �,,,�,«;;.:.:.: . .�. .t restoration or tepiir ie not economically feasible or I.ender's eocurity would be les�sened�tha insuc�nce proceods shall be
<br /> — �, applied to the suma sxured by thia Security Instrument,whether or not then due. with any exces3 p�id to Bnrcower.If --
<br /> • ��' •.r+:.-.' Borrower abandons the Property.or doea not answer within 30 diys a notice fmm Lender that the�nsurance c�rrier h�s -"
<br /> _ --,�•:�9 ,.,
<br /> _�.�sr,.u�:':•..,.�.•.; offered to settle a claim, then Lender may collxt the insur�n�,e proceed.9. Lender may use the proceeds to tepair or
<br /> �( ' reatore the Pmperty ar to p�y sums sxured by this Security Instrument,whethet or not then due.The 30'day period will
<br /> be�in when the notice is Qiven.
<br /> - - �a.�.soa.,.,,,,,�,...�,�� Unlese Lxnder and Borrower atherwise agra in writine,any application of proceeds to principal shAll not extend or -
<br /> : postpone the due dau of the monthly payments tefecced to in pan�aphs 1 and 2 or change the amount of the payments.
<br /> i . It under p�n�aph 21 the Propetty ia acquired by Lender, Borrower's riEht to any insurance policies and proceeds - -
<br /> resutting from damage to the Property pnor to the acquisition shall pass t�Lender to the extent ot th�sums secured by =_
<br /> this Security Instrument i mmediauly prior to the acquisition. �='
<br /> 6.Occupancy,Preservatioa,Maintenance and Protection of the Property;Borrower s La�a Applicatjoa; =.
<br /> I.ease6olde. Bonower shall accupy,establish,and use the Property ea Botrower's principat residence withi�►sixty days
<br /> after the execution of thie Security Instrument and shall continue to occupy the Property as Borrower's principal ��'
<br /> residenc�for at least one year after the dau of cecupancy,unless Lender otherwise agrees in writing,which consent shall �_
<br /> • not be unrasonably withheld�or unless extenuatine circumsunces exist which are beyond Barrower's control.Borrower "`
<br /> , shall not destroy.damage or impair the Property,atlow the Property to deteriorate,or commit waste on the Property.
<br />. Borcower shall be in default if any torfeituro action or procceding,ahether civil or criminat,is begun that in I.ender's �
<br /> good faith jud�ment wuld result in forfeiture oi the Property or otheraise m�terially impair the lien crcated by this —__.
<br /> Security Instcument or I.ender's security interest. Borcoaer may cure such a default and reinatate, as provided in
<br /> par��raph 18, by causing the action or procadinE to bc dismissod with a ruling that, in l.ender's good faith � `
<br /> - - dctcrmiaatian,prrcludcs fort�iturc af thc Borraa�r's inier�t in the Pra�rty ar ather srsaieris! ir�spairm�t af the litn � ..
<br /> � cruted by this Sr.curity Instrument or Lender's sacurity inter�st.Borrower ahall also be in default if Borrower,during �;,y
<br /> the loan application process. gave materially false or inaccurate infarmation or statemenu to Lender (or failed to �;
<br /> provide Lender with any maserial infarmation)in connection with the loan evidenced by the Note, including,but not
<br /> limited to,representations concerning Borrower's occupancy ot the Property as a principal residence. If this Security ���
<br /> � Instrument is on e leasehold, Borcower shell comply with all the provisions of the lease.Ii Borcower acquires tee title to
<br /> � the Property.the le�sehold ind the fee title shall not merge unless L.endec agrees to the merger in writing. �„ �
<br /> � � 7. Protectioa oi Lender's Rig6ts in the Property. If Borrower fails to perform the covenants and agreements �,
<br /> y: � contained in this Security Instrument,or there is a legal proceeding that may significantly affect I.ender's rights in the �,.._
<br /> Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or �.
<br /> � ' regulations), then Lend�r mey d�anA pny for whnrever is neccccary to protect the value of the Property and Ixnder's =`
<br /> ' rights in the Property.I.ender's actions may include paying any sums sec�red by a lien which has priority over this
<br /> ° Security Instrument,appearing in court,paying reasoneble attorneys'fees and entering on the Property to make repairs.
<br /> Although Lender may take action under this paragraph 7,I.ender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shnll become additional debt uf Borrower secured by this �
<br /> • Sxurity Instrument.Unless Borrower and Lender agree to other terms of payment,these amounts sha[i bear intecest �
<br /> _ irom the date of disbursement at the Note tate and ahall be paysble,with interest,upon notice from Lxnder to Borrower �
<br /> requestin�payment.
<br /> 8. MortYa�e insurance. If Lender requiced mortgage insurance as a condition of making the loan secured by this
<br /> Security Instrument,$onower shall pay the premiums required tc�maintain the mortgage insurance in effect.If,for any .
<br /> reason, the mortgage insttrance coverage required by I.ender IapseS or ceases t� be in effect, t3orroNer shall pay the
<br /> premiums required to obtain coverege substantially equivalent to the mortgage insurance pre��io►�sly in effact,at a cost •
<br /> � substantialll• equivalent to the cost to $orrower of the mortgage insurance pre�•iously in effect, from an alternate `
<br /> mortgage insurer eppraved by Lender. If substantially equivalent mortgage insutance coverage is not aesilable,
<br /> Borrower shall pay to I.ender each month a sum equal to one-tuelfth oP the yearly mortgage insurance premium being
<br /> paid by Borcower when the insurance coverage lapsed or ceased to be in effect.Ixnder e•ill accept,use and retain these
<br /> payments as a losg reserve in lieu of mortgage insurance. I.oss reserve payments map no lonEer be cequired,
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