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<br /> � period.4 that I.ender requires. The i�surance carrler providing the insuranre ahall be chosen by Boaower s � o Lender s , .�.�w;
<br /> �'� '� approval which shatl not be unmasonably withheld. If Borrower fails to meintnin cover�ge described ubove,txnder may,nt
<br /> � I.ender'�option.obtain coverage to protect Lender�s dghts in the Property in uccordance with paragruph 7.
<br /> ' Ail Insurance policies and renewais shall be acceptuble to g.ender and shall include a standard martgage clause. Lender �� ; � .
<br /> • ' shall have the right to hold the palicies and renewals. If Lender nquims,Sorrower�hall pmmptly give to Lendcr all receipt� •
<br /> of paid premiums and renewal notices. In the event of loss,Borrower sha11 give prompt notice to the insurance carrier and , _
<br /> L.ender. l.ender may make proof of tass if not made promptly by Borrowcr. . _
<br /> � Unless Lcnder and Borrower otherwise agree in writing,i nsurance proceed.g shall be applied tn rescoration or repair of •
<br /> the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the , , �
<br /> restoratton or repalr is not econamically feasible or Lender's security would be lessened, the insurance proceeds shall be • , _
<br /> � applied ta the sums secured by this Security instrument, :�vhether or nut Ihen due,with any excess paid to Borrower. If 1 , -� =��
<br /> Borrower abandons the Property,or dues not answer within 30 days a notice from Lender that the insurance carrier has , ,
<br /> offered to settle a claim,then Lender may collect the insurance pruceeds. Lender may use the proceeds to repair or restore , <• ,,•• .•��.
<br /> the Property or to pay sums secured by this Security Instrument,whether ar not ihen due. The 34-day periad will begin when . . . � ' �•'
<br /> "' '�'1:,�,�.:�'%.�� the notice is given. �;
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<br /> � Unless I.ender and Boaower othenvise agree in writing, any application af praceeds ta principal shall not extend ar
<br /> ;, postpane the due date of the monthly payments refcrred to in paragraphs I and 2 or change the sunount of the payments. IF , , ,�
<br /> under paragraph 21 the Property is acquired by Lender,Borrowerk right to any insurance policies and proceeds resulYing
<br /> from damage to the Property priar ta the acquisition shall pus to C.ender ta the extent of the sums secured by this Security �+
<br /> Instrument immediately prior to the acquisition. �''� ��'�,
<br /> 6. Occupancy, PreServaeian, Meintenance and Protectio� of the Prnperty; Boa�rower's Loan Application; „ �.A�.
<br /> Lease4tolds. Bottower shall occupy.estabtish,and use the Pmperty as Boirower'.s pnncipai residence within sixty duys after ,. „ •, ��c �
<br /> � the erecution of this Security Instrument and shall continue to accupy the Property as Borrower:s principal residence for at , y�
<br /> leaet one year after the date of occupancy, unless Lender otherwise agrees in writing, which cansent sha11 not be ^
<br /> unreasonably withheld,or unless extenuating circumstances ex est which are txyond Borrower's control. Borrower shall not � .. ,`�''4R��
<br /> i:�5'`,° destroy,damage or impair the Aroperty,allaw the Property to deteriorate.or cammit waste on the Property. Bonower shall .�,��'•a�.,,�.,,_
<br /> ".� ��''� be in default if any forfeiture action or proceeding,whethercivil or criminal, is begun that in Lenders good faith judgment ,. '°"��
<br /> •'.;�;r; could result in forfeiture of the Property or otherwise material(y impair the lien created by this Security Instrument or �
<br /> �.;p��• . Lender's security interest. Borrawer may cure such a default and reinstate,as provided in paragraph 18,by causing the action .
<br /> or proceeding to be dismissed with a ruling that,in Lender'sgood faith deterrnination,pmcludes forFeiture of the Borrower's• ��,��r
<br /> interest in the Property or other material impairment of the 1 ien cmated by this Security Instrument or Lender's• security , .
<br /> interes� Borrower shall also be in default if Borrower,ducing the loan appiication ptocess, gave materially false or • rl..i, ;—'- -
<br /> � ��+;<t�"� ' inaccurate information or statzments to Lender(or failed to provide Lender with any material informasion)in connection with . . �
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<br /> ,,.:.,.:�- tha ioan ecidenccd by thc tiatc, inclndinb, but n..! limirrrl tn. representntions canrerning Soaower's• ozcupancy of ehe ( � �,.,,s.,. . ' _
<br /> � Property as a principal residence. If ihic Security Instrument is on a Iea.ehold.Sorrower shall camply with atl the provisions F �,r•: �� �.-•� , �
<br /> .,: :
<br /> of the lease. If Borrower acquires fee title to thc Pmperty,the leasehold and the fee title xhall not merge unless Lender agrees � ��.;;':ji'.°,.
<br /> to the merger in writing. �
<br /> •i,�:' 7. Protection of Lender's Rights in the Praperty. If Bormwer f.�ils to perForm the coven�nts and ugrcements F � :':`i+ ,,.'�,'-��,
<br /> '�'i'�'�,s';'� , contained in this Security Instrument,or there is a legal prcxeeding that may significantly affect Lender's rights in the
<br /> :'}��. ` Property(such as a proceeding in bankruptcy,probate,for ccxidemnation or forfeiture or to enforce laws or regulation+),then � •�
<br /> ��}' '�`�� Lender may do and pay for whutever is necessury to pruten the value of the Property�nd Lender's rights in the Property. � , . �=�,„(
<br /> �� Lender's actions may include paying nny sums secured by u lic:n which hac priority over this Security Instrument,appearing � :�'
<br /> in court,paying reasonable attorneys'fees and entering on ih�Propeny to make repairs. Although Lender may take action � . Sj', .
<br /> � under this paragraph 7,Lender doex not have to do so. � . •�'.
<br /> Any amounts disbuned b}• Lender under this paragraph 7 tihall become aJditional debt of Borrouer utiured by this . .
<br /> '��'`:;� Security Instrument. Unless Burrower und Lender a�ree cv v�hrr terni+of a ment,the�e umount.�hull bear interest from the � ������
<br /> �.
<br /> �;���,'':�;��;�.;`;� date of disbursement at the!�ote rat� and shall be pay��bl�.K ith intcrestruFxm notice from Lendcr to Borrower reyuesting ,.1,: ,- 6. �
<br /> �, �f�:•..� Pa}ment. I • •.;•1•. L�:
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<br /> ' 8. MorQgarr,e 9�us�ranee. If Lender reyacir��i envrt�a;, insurancc a� �condition of making the loan �ee�ure d by t his , `i;,-" ,_ `..;,:r:
<br /> Sfct�rity Instrumer.,t. B�RC�uer shall pay thc prem�ums r�yurrd to mainuin �he mnrtgage inxurance in effect. If, for uny ; ;jti',�_,'T:
<br /> "�� • rea.an, the mortga�e in�u�ance roversge nyuired bp L�r.t�r lap�e. «r:�a�r+ to be in effcrt, 8orrower+hul! pay the � . 'F�.,
<br /> • premiums required to obtain cc=�•rr.tge wb.tantially eyi:i�.�;�nt to thr mor4::t�r in�uranre previously in effeet, ut x cotit - .;%T
<br /> ' substantially equivalent to thc�o�i tu Borrc�wer of the morg:ige insursnct rrrviou.'� in rffert,from un altemate mort€nge ' ; �.� ;, , �c;
<br /> insurer approved by Lender. if vubxtantially eyuivalent monga�c in+ur:.un.�overagr i>nin available.BoROwer.hall pay to � ` •�
<br /> .:i�
<br /> Lender each month a sum eyual to one-twelRh of'thc ycarly mortga�e ia�ur�n:e pmmium bcing paid by Borrower when the .
<br /> � insurance coverage lapsed or ceased to be in effect. Lcndcr wi 11 arrept,uu and retam thr,e payment�a.a los�re.erve in liru • ��;
<br /> .� t,; .. of mortgage insurance. Loss restrvc payment, may no Icmgvr lx reyuired, at the optian of L�r.der. if murtEage insuranrc .
<br /> .�,:..
<br /> , .., .1,, coverage(in the arnount and fi�:�he pericxi that Lendrr reyuirc:+l provided by an m�urcr a�pro�rd by Lender again becomes
<br /> � •;.`: �:�.,, available and is obtained.Borrc��er�hall pay thr premiumti myuired to maintam mortga,�•�a.uran�e in effect,or to provide a
<br /> ,•,..<<., .
<br /> • ° .;�� loss reserve,until the rcyuitement for mortgage intiurance eixi�in arcurd•rne�with am µr�r,�n a�rram�nt bet��een Borrower
<br /> : ' ' •.•f and Lender or ap�licable law. ;
<br /> • � 9. Inspect6mn. l.ender or it.agent may make rea�cmat�le entric. u�m and impertson�uf ihr Proprrty. Lendcr tihaU
<br /> %�;1°� � giv2 Borrower natice at the timz��f ur pnur tu an impertium.�cifying rca+onahl�reu�e f��;thr imprrti.m. ;
<br /> ,�,;:; � D0. ('ondemonaC6an. Th:�����a•��r�ny:�W�a����I�:r.n tiir damageti.dirert�rr c��m�.�uential,in a�nnertiun with an}• ,
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