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<br /> .�*�-� �?r., �-•�" ' S. Hazard or Propert9 I�surance. Borrower shall ke�p the improvements now existing or hereafter eratec�on tho =_-___ -_.--—�--
<br />� -•�. . ..�,��'u Property insured against loss by tire. hazards included wfthin the term "extended coverage"and any other haznrds. incladln� �",�.�-+:-�_._�--. :.�_-
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<br /> , ��,;�,..; . • flooda ar flooding.for which I.ettder requirea Inaurance. Thla insurance shetl be maintained ln the amounts and far the perlods —
<br /> , ,�',�;Q;:,,._;r'�. that l.ender requirc.w.The inaurance carr.ter provIding the insurance shaU be chosen by Borrower subject to L.ender's approval °---- -----
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<br /> � "s::� .' which sh�il not 6e unreasanably withheld. If Borrower fails to muintain coverage descdbed above. Lender may.at Lender's �
<br /> '�'�, option.obtaMcoverage to protect I.ender's rlghts in the Property in accordance with paragraph 7. �'�j������T�
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<br /> - •� All lnsurance poltefes and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender � ;--a
<br /> +'�.j�:�^�,;� , .,t,:;��, sball have the r�ght to hold the policics and renewals. If L,ender requires.Borrower shall promptly give to I.ender ait receipta of _�„�f,r =
<br /> • ., •,= paid premiums nnd renewal notices.l�the event of loss, '� � r'°' q
<br /> Borrower shall give prompt notice to the insurance carrler and Lender. s .,
<br />� . " „ � � Lender may malce proof of loss if not made promptly by Borrower. ,.���,��f��r•,;_
<br /> � Unless L.ender and Borrower otherwisc ugree in wridng,insurance proceeds shall be applied to restoration ar repair of the o . : �,1�<;� _
<br /> t �� � . Property damaged.if the mstoration or repair is ecanomically feasible and L.ender's securlty is not lessened.If the restoredon or `;�'.'`_
<br /> i` ' "�� . repalr is not economically feasible or Lender's secudty wauld be lessened.the insurance proceeds shall be applied to the sums •�- -
<br /> � • secured by this Security Insuvment. whether or not then due. wIth any excess pald to Borrower. If Borrawer abandons the �
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<br /> ,� �-'--'-- Property.or does not answer wittnn�u Gays a notice irom Lenuer uin� u�c insuruncti uuricr i�as o�ia�aI io eciiia a cIaitn, u�a�. -` -f'=-�'�=� -
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<br /> J� I.ender may wllect the insurence pror.eeds. Lender may use the proceeds to repafr or restore the Property or to pay sums ^ , �„ • �t• _
<br /> secured by thie Secudty Instrument,whether or not then due.The 30-day period wjl l begin when the notice is�iven. ''
<br /> , ^ Unless I.ender and Bonower atherwise agt�e In writins. any applicatton of prace�s to pr3nclpal shall not extend or .., ' �"_
<br /> ' pastpone ths due dute of thc manthly payments referred to in paragraphs 1 and 2 or chnnge thc amount af che p$yments.If , . ���s
<br /> • • under parngrnph 21 the Pmperiy !s acqulred by Lender. Borrower's ►iBht to any inaurance pnlicies And praceeds resulting from . '"��:-a
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<br /> - - _. datnegc ta thc Prupcny priar�v tite ucyuiniiiun aliaii p�ua iu k�:J�� tu tt�a��►tani af.iti,sut�;sccurcd by ilsi�Sc."ttr�r�In:,ttutttctsL ------._--�'-'�'-'�•�•_, '
<br /> �� ' lmmediately pd�r ta the ucquisftian. , �"��� "
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<br /> 6.Accupartcy.Prcwervation.Matntenence ond Protectfon ot the Pmperty;Hurmwer'd Loan Application;I.eaFehotds. �; �
<br /> Born►wer shull ixcupy. estnblish.and use the Praperty as Bonawer's princfpal tesidence wlthin sixty days after the execution af „ ` = •
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<br /> •,� , thix Scxudty Instrument und�hall mntinue to occupy the Propeny �.c Borrower's pdncipal residence for at least one yeer after �� '
<br /> � ' the date af c�ccupancy, unless Lender otherwise agrces in writiag,which consent shall not be unreasonably withheld. or unless � � ;:� •
<br /> �� cxtenuating clrcumataric�w exist which are beyond Borrowcr's control. Baaawer shail not destroy, damage or lmpair the � ,f
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<br /> Praperty.allow thc Praperty to deterlorate. ar commit waste on the Praperty. Bonower shall be in default If eny forFeiture . 'T'--
<br /> action or proca.Ming,whether civll or criminal. is begun that in Lender's�ood fa�th judgment could result in forfeiture of the .�'f�`r„-'�
<br /> , • Propeay or otherwise matedally Impair the lien created by this Security Instrument or I.ender's secudty interest.Borrower mey '� '•��
<br /> --. ---��- -- cure snclt e d�fn�ls and minstetP,aA provided in paragraph 18,by causing the action or proceedin�to be dismissed wIth a rulin� _ '�g;�
<br /> ., that, in L,ender's good feith determination, precludes forfeiture of the Bonower's interest in the Property or other material ,a� s
<br /> impairment of the tien created by this Security Instrument or Lender's secudty interest. Borrower shall also be In detault If ''i �
<br /> " � f o tion or statements to I.ender or failed ' �',:��,� `
<br /> Borrower,dudng the loan application process,gave matedally felse or inacc�rute nf rma ( ,,
<br /> to provide L.ender with any mater�al information)in connection with the loan evidenced by the Nate,includin�,but not Iimited '
<br /> to.mpresentations concerning Bonower's occupancy of the Property as a principal residence.if this Security Instrument is on a ��
<br /> � ' � wt aU the rovisions of the lease. If Borrower ac uires fee title to the Praperty. the ��r0'±;
<br /> Icasehold, BoROwer shall comply th p 4 ,�
<br /> ' teasehold and the fee title shall not merge unless Lender agrces to the merger in writing. '
<br /> , 7.Protectton of Lender's Rights in the Propeny.If Borrower faits to perform the c�venants and asreeme��tscontained jn ��!
<br /> this Secudty Instrument,or there is a Icgal ptoceeding that may sl�nificantly affect Lender's rights in the Property (such es a ' `� „ i
<br /> _• pmceedina in bankruptcy, probate, f�r condemnation or for(eiture or to enforce laws or regulc►tions), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and i.ender's rigbts in the Property. L,ender's actions may :����-
<br /> � include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, payin� ;:.�.
<br /> - reasonable attorneys'fees and entering on the Property to muke repalrs. Althou�h Lender may take action under this paragraph �-%.
<br /> 7,Lender does not have to do so.
<br /> Any amounts disbuned by L.cnder nnder this pare�eaph 7 SIIQII E►fCOttlC fld(It1�nnH1 �1Pht ��f Rorrnwrr �ecured by this i . ..__.: .
<br /> - Securtty Instrument. Unless Borrower and l.ender agree to other terms of payment,these amounts shall bear interest from the '
<br /> date af disbursement at the Note rate and shnll be payable, with interest, upon noticc from Lcnder to Barrowcr requestin� I
<br /> pnyment. ! ,
<br /> � 8. Mortgage Insuranee.If I.ender required mortgage insurunce as u corxiition nf making the loan secured by this Security !
<br /> � lnstrument, Borrower shaU pay thc premiums requircxl �u waintaiu thr uwi�g�ge ivaurauce in effect. I{', fur tuiy reuwu. dir � - . -
<br /> mortsage insurance mvcragc required by 1..ender lapses or�rases to be in effect, Borrower shall pay the prcmiums reyuired to ;
<br /> • obtain coverage substantially equivalent to the mortgage insurancc prcviously in effcct,at a cost sub�tantially equivalent to the
<br /> rnst to Borrower of the mortgage insurance previously in cffect, fmm un alternute rnortgage insurer approved by Ixnder. If
<br /> • substuntialiy equivalent mortguge insurance covcrage is not available.Borrowcr shall pay te�i.ender each month a wm equal to �
<br /> . one-twelfth of the yeurly mortguge insurance pmmium heing paid by Borzower when the insurance coveragc lapsed or ceased ta '
<br /> be in effect. Lcnder will accept, use and retain these payments as a loss reticrvc in licu nf mortga�e insurance. I.oss reserve
<br /> Form 30Z8 8180
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