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<br /> � � periods th�t Lender nquires. 'Ihe insururice catrier pmviding the insurunce shalt be chossn by Boirower sabject to I.ender� ��-��:-�.,��
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<br /> npprovaf whtch shnll aot be unreasonobly wlthheld. If 8arrower fuils to m'a���Ce W8��ri��ve,Lendet may,at . ,-. �•:_;._,���__
<br /> • ` l.enderk option,obtaln caverage to pmtect Lenderk rights in the P+�+operty P B*�P a., ,.�:^;
<br /> �� � � �� • AII insurance policles and renewals shall be acceptabie to I.erider sind shali include a standurd mortgage clause. l.ender . ; :�.�_
<br /> > � • shall have the right to hold the polictes nnd renewals. If I.ender requires.Borrower shall pmmptly give to Lender al!receipts ;.,
<br /> =�'�i'°•"` �" ". of patd premiums and renewal notices. In the event of loss,Bomower shail give prompt notice to the insurance carrier and _ l ;`yy��.,
<br /> � • Lender. I.ender may make proof of bss if not made prompdy by Borrower. __
<br /> �" ` Unlesa Lender and Borrowet othenvise a�in writin&. insurance proceeds sha11 be applied to restoration or repair of
<br /> -- _...." .- ����- the Praperty damaged. if the restoration or repair is econamically fesisible and Lender�s security is not lessened. If the � ,
<br /> , . nestoratton or repair ls not economically feasible or Lender's secunty wou1J be iessened,thc insurance proceeds shall be �y ��_�''
<br /> � � " applied to the sums secured by this Secudty Insuument.whether or not then due,with any excess paid to Botrower. [f _ . . : _... . _ ;
<br /> Bomower abandans the Property.or does�ot answer wirhin 30 days a notice from Lender that the insurnnce carrier has
<br /> � offered to settle a claim,then Lender may callect the inst�.rance proceeds. Lender may use the proceeds to repair or restore
<br /> -f ' the Property or to pay sums secuted by this Securiry Instrument,whether or not then due. The 30-day�eriod will Uegin wk�en
<br /> ' � the�otice is given.
<br /> � Unless Lender and 8omower otherwise agme in wridng,nny application of proceeds ta princig�al shat!rtot extend or
<br /> poscpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amomc�t of the payments. If �.
<br /> urtder p�agraph 2I the Property is acquired by I.ender. BorrowerS nght to any inswartce policies artd proceeds resulung �•
<br /> 6rom damRage to the Property prior to th�acquisihan shall pass to Ilxnc9er to the extent of the sums secured by this Securit�+
<br /> " Ilnsteunt�nt immediately prior to the aoqteisition. •
<br /> 6. O�amsY. ���a��+ ��Eenance and Protection of tEre ���srsy; Borrower's Loan Appltcation; f; . .
<br /> � _ e,easthoWs, Borrower shall occupy,establish,and use the Property as Borrower's pr:�cipal residence within sizty days after ��i,;_,.
<br /> , the execuuon of this Security Insmunent aad shaii continue to occupy the Property ��<Sorrower's principal residence for at ;� :" «
<br /> •� " '� teast one year After the date of occ�agacecy, unless Lender othemise agrees in writing, which consent shall not be ,
<br /> �� ' u�u+easonably withheld.or unless extenuatimg cireumstances exist whic�e are beyond Borrower's control. Horrower shall aot � ; ;
<br /> _ �� •� destrn��� damage or impair tpee�roperty,a�low the Property to deteriorace,or commit waste on the Propeny. Borrower shall
<br /> "'3� be in default if any forfeicure action or proceeding,whe¢�eer civil or criminal,is begun that in Lender`s good faic�judgment ,
<br /> • could result in forfeitu�e of the Property or otherwise materialAy impair the lien created by this Security la�crument or � . ;
<br /> I.ender's serurity interest. Borrower may cw�e such a default and r+einstate,as provided in paragraph 18,by causie�g the action Y ., ;.,.
<br /> or proceEding to be dismissed with a ruling that.in Lender�s gaoc�faitQe determination,precludes forfeiture of the Horrower� ��';,�J
<br /> � interest in the Properry or other maternal impaimient of the lien created by this Security Instrument or Lender's security ° :�� zs�
<br /> interes� Borrower shall also be in default if Borrower, durin the loan lication rocess, ave materiall false or '� - _
<br /> � aPP P g Y ��_
<br /> � inaccurate information or statements to L.ender(or failed to provide Lender with any materiul information)ia co�ection with ,. _ ��•-t``
<br /> � the loan evidenced by the NQte, inciuding,but not limited to, repnesentations concerning Borrower's occupancp of the �i, •:� '
<br /> — prop�ny a,n p,i,ycipal r�sidc:�.. ::w'sis Secur:t;ln�tn!ment i���n�e�cehold.Barrower shall comD[v with all the provisions _ �, :_
<br /> •• ; ;,�' of the lease. If Borrower acquires fee tiEle tm the Property,the leasehold and the fee titic shull not merge unless l.ender agrees �.�,`���.�',i.
<br /> "'+ to the merger in writing. . '�n r
<br /> .� '�'•'` 7. Protection of Lender's Righis an the Pcoperty. If Borrower fails to perfocm the covenants and agreements
<br /> contaiaed in this Security Instrument, or there is a legal praceeding that may significantly affect C.ender's rights in t!►e „ �•.,N,
<br /> , property(such as a proceeding in bankruptcy,probate,for condemnation or fotfeiture or to enforce laws or regulations>,then
<br /> ' l.ender may do and pay for whatever is necessary to protect the value of the Property and I.ender's righis in the Property. , , .' .c;�
<br /> L.ender's actions may include paying any sums secured by a lien which has priority over this Security Instrument,appearing ";�.N y�;r,
<br /> • �, in court.paying reasonable uttomeys'fees und entering on the Property to make repuirs.Although Lender may take action �'' .,"'
<br /> ander this pazagraph 7.Lender dces not huve ro do�o. V'�
<br /> My amounts disbursed by Lender under tliis paragraph 7 shall become additional debt of Borrower secured by this .
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment,these amounts shull bear interest from the �i
<br /> � date of disbursement at the Note rate und shall be paya6le, with interest,upon notice from l.�nder ta Borrower mquesting , -:J�
<br /> . PaYment. � ".��"�
<br /> • 8. MarBgagc IInsuranee. If Lender rec�uired mongage insurance:ss a condition of making the tonn secured by this •��;�:�;�.
<br /> '�: Security Instniment, Borrower shall pay the premiumti requimd to maintain the mortgage insurance in effect. If, for any : '«!et+!�
<br /> neason, the mortgage insu�a+nce coverage reyuired by Lender lapseti or ceases tu be in effect. Bornower shall pay the ,�'1,.,..
<br /> ;,i�:::;�.=t;; , ._�;,'.; premiums required to obtain coverage �uhstantially equivalent to the mortgage insurance previously in effect, at a cost �•:•�:� • .
<br /> �'��,:'ii'"', 't'�" substantially equivalent to the cost to Borrower of the mortgage insurance previou+ly in effect, from an altemate mongage
<br /> };'�;�.�..,.,. ,..t:.:.:
<br /> ,�I•%�.:i • •�'�'.`�:- insurer approved by Lender. If substantially eyuivalent mortgage insurance coverage is not avnifable.Borrower shall pay to
<br /> ,,..,. „, •�.�.,,..
<br /> ,. �,�•r "'•�;,� I.ender each month a sum eyual to one-twelfth of the ye:�rly mortguge imur;uice premium being paid by Borrower when the ,,;f� �
<br /> `'�'%3' � insutance coverage lapsed or ceated to be in effect. Lender will accept,utie and retain the�e payments as a loss reserve in lieu `.• ;r•=-
<br /> '•k�'}%``�;���� ' of mortgage insurance. Loss reserve payments may na longer be cequired.at the option of Lender,if mortgage insurance
<br /> ,�1, ':� :..,�,•....,.
<br /> ti:,��::� coverage(in the amount and for the period that Lender rcyuires) pmvided by an insurrr approved by Lender again becomes .,,, ,
<br /> available and is obtained.Borrower shall pay the premiums reyuired to maintain mortgage insurance in effect,or to provide a � �,,�" • :4�`;
<br /> . ;:L�;�' loss reserve,until the reyuirement for mongage insurance ends in nca�rdance with any written agreernent between Borrow•er • ;..ti,; ; �
<br /> •� � and L,ender or applicable law. •
<br /> � „ 9. Inspection. Lender or its agent may mal:e reasonable entries upon and impectioro of the Property. Lender shat[ 4r;•:j,:;i.'
<br /> ,. give Borrower notice at d:e cime of or prior to an inspection specif�•ing reasonable rau�e for the inspection. '` ,,._ r,
<br /> • 10. Condemma¢uma. '�''Ita proceeds of any award or claim fur damageti.dimct or ron�ryuential,in cortnrctic�n witlt aet}
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