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<br /> _ 4. l�irc. Glond u�i�Otficr �Inr.�rd Insurnnce. I�orniwcr sh,dl iusurc ;dl improvrmclns on thc Pr�iperiy, whcthcr now in '� ��` r
<br />-- , cxistcnrc or subscyucntly crcctcd. a�ainst any huiards, �atiu�dtics,nnd runtin�;cncic,. inc�udiny f7rc, fiir whirh I.cnilcr rc��uires �' �: •. �,.;y._-
<br /> �'��_��"• `' •�a,�"-4 iusurancc. 7'his insurancc ,hall bc maintaincd in thc anu�un�� and for tlic periuils �hiit l.rndcr rcquirc�. Nnrrnwcr �.h�ll zdU+ °�LL`--y-__
<br /> � :��
<br /> , insurc all imprnventcnts un 1hc F'r��prrly. whcth�rr n��w in rxi�lrnrc�n•wh��qurmly��rrc•ICd. ,i�toin4t Inti,hv Iln�ulti 1��Ihcrxtcnl <
<br />- � ' requircd hy tlu Sccrctary. All insurancc shnll hc curricd with rompanic� i1�1j7f�lVl'CI ItY I.CIIIIGI'. TI1C IOSUI'illll'C�1�lIICICti and any �}�JJ��j+3II(t.:::��
<br /> ..`�,��.��-. �� �._.—_.,"--
<br /> renc�vulti�hall hc hcld hy I.cndcr nnd shall inrludc loss pay:�blc cluuscs in 6�vor uf, ,�nd in a forrn ncccptnblc to, I_cndcr. -;�1`-��:'::;::.
<br /> .. �I �,../` `,�,...���_y�+.
<br /> ' ° . In tlic event of luss, E3orrowcr tihall givc I.�nder immcdiutc nutice by mail. I.endcr may makc proof nf loss if no1 made ; . �'•°"M��.: ,--
<br /> promptly by Borrower. Euch insurance company ronccrncd is hereby autharircd and directcd to muke payment tirr�:uch loss �:' —_
<br /> , . Jirrctly to Lcndcr, instcad of tu Borrowcr and to Lendcr jnintly. All or any part of thc insurancc proccecis may h�applicd by ' ."���";�:
<br />- ' . Lender, at its option, cither(a) to the reduction of the indebtedness under the Note and this Security [nstru►nent, fir:;t to any � q: � �;,:�`t:;_,
<br /> y�+:�� ����s'tv. . ._
<br /> delinquent amounts upplicd in thc order in parngraph 3, and then to prepaymcnt of principal, or(b)to thc restoration or rcpair - ,;- ••-�•.;F• ._--
<br /> �...'".�-_ 'F�'•�i�' .
<br /> . of the damabed Propeny. Any application of the proceeds to the principal shdll not extend or postpone the due dnte�f the �, , `'' �,.;,:-__=
<br /> ,�= monthly paymcnts�vhich are referrccl to in paragraph 2,or c:hange the amaunt of such payments.Any excess insurance proceecls ' iQ''
<br /> " �..
<br /> " over nn umount re uired to a all outstandin indebtedness undcr thc Note and this Securit Instrumcnt shall be aid to the �`�' "—'
<br /> 9 P Y S Y P •,r�� �F:.�_,__,_�
<br /> - � � entity legally entitled thereto. �� �'�y.,.'a�
<br /> ,:�,w*-�:
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<br /> ,. Gi the event of forcclosurc of this Security Ins[rumcnt or othcr transfcr of tidc w the Propeny that cxtinguishes the ' � ..,,___,_.}�'<-
<br /> . �.•��:,
<br /> � indebtedncss,ull right, tiQc and interest of Barrrnver in and to insurancc pol icies in force shaU pass to the purchaser. " '
<br /> ,.��.«,.:_-:_--
<br /> . ' �� -l�L4T�o44�'-_�
<br /> ' S. Occupancy, Pr�servution� Maintenance and Protecttmi of the Property; Borro�ver's I.c►an Appllcation; ` ���"�nr�`
<br /> ' � �� L.easeholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after • � • �—
<br /> ��„r�,;� �,�
<br /> the exccution of this Securit��Instrumcnt und shall continue to occupy thc Property as Borro�ver's principal residence for at Icast ''' ��
<br /> ,.,.�'' ,.:
<br /> . .�.,••-
<br /> one yeur after the dnte of occupancy, unless the Secrctary determinet this requircment will cAUSe unduc hardship for Borrowei•. � . '�.i�
<br /> or unless extenuating circumstunces exist which are beyond Borrower's control. Borrower shull notify I.enders of uny
<br /> � extenuating circumstances. Borrower shall not comrnit wusr.e or destroy,damage or substantially change the Property or allow �' � . --
<br /> the Property ta detcrioratc, reasonable wear und tear excepted. Lcndcr muy inspect thc Property if the Pmperty is vxcant or �
<br /> ��:I.^,�:���� �T .t�C ��::st 7:; :r, .�..v....i. �,...a�� ....... �.�.. ....... i . ... .......... i .. �. .. � a., i —
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<br /> ° I Property. Bonower shall also be in default if Borrnwer,during the loan application proccss, gave materiully falsc or inuccurate . '� T_
<br /> � information or stutcments to Lcndcr (or failcd to prnvidc Lcndcr with any matcrial information) in connection with dx lo�n •�
<br /> : cvidcnccd by thc Notc, including, but not limitcd [o, rcprescntations cnnccrning Borrrnvcr's occupancy of thc Propeny as u �.
<br /> � principal residcncc. If this Sccurity Instramcnt is un a Icuschold, Q��rm�vcr rhall ci�mply witl� thc provisians of thc lcasc. If ''�" _
<br /> Borm++•er ucquires fec tiNc tu thc Property,thc Icaschold and fcc tiUc+hull not hc merFed wiless L,ender agrocs to thc mcrgcr in y,r:r
<br /> writing. .�' ,
<br /> >,�• ..
<br /> . fi. Chne�;es to [iorrmver nnd Prntectlun oP Lende�'s Ri�Ghts In tlie Property. Borrower shall pay aU governmcntal or �' r,�
<br /> municipal charges, fines unJ impositions tliat are not includcd in paragraph 2. Barrower shall pay these obligationti on time ,r�,�`
<br /> ° .' directly to thc cntity which is owed the payment. (f failurc to pay would advcrscly affect L.ender's intcrest in thc Property,upon ;� �
<br /> L.cnder's rcquest Borrowcr shall promptly furnish ro Lender rcc�ipts evidencing these payments. � �:'
<br /> •• , if Borrower fails to make thcsr,paymcnts or the payments requireJ by paragraph 2, or fails to perfortn any othcr covcnunts � • , •"%�"*;,,_�—
<br /> � and agreements containui in this Security Instrument,or there is a legal prciceeding that may ,ignificancly afYect Lcnder's rights ;•, " �
<br /> " in the Property(such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulatinns), then Lender may do �''
<br /> and pay whatever is necessary ta protect the vxluc of the Propeny and Lender's rights in the Property, including payrnent of � •
<br /> ' taxes,hazard�nsurance and othcr items mcntionesi in paragraph 2. 5'%���
<br /> �. ,;__
<br />_ Any amounts disbuned by Lender under this paragraph shall become an additional dcbt of Borrower and be secured by ° ;, ��
<br />- this Sccurity Instrument. These.imounts shull bcar interest fi•om thc date of disburscmcnt.at thc Notc rutc, and at the op�ion of `�� r�.�
<br /> Lcnder,shall be immcdiately due and payable. ` �.�`' t� �';
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<br /> `� 7. Condemnatfon. The procccd. of any u�vard or claim firr damages, dirert or consequential, in connection wi�h any � �"F i
<br /> condcmnation or othcr tukinE of cury part of thc Propcny,or for convcyunrc in plarc of condcmnation, arc hcrcby assi�ncd and
<br /> �� shall be paid to Lender to the extent of thc full arnount of thc indcbtedness that remains unpaid undcr thc Notc and this Security i : �'
<br /> Instrumert. Lender shall upply such proceeds to the reduction of the indebtedness under the Nate :�nJ this Security Instrument, ! -
<br /> • " first to an dclin ucnt amounts a licd in the nrder rovided in �ra ru h 3, and then ti� rc a ment aF rinci al. An � .�
<br /> Y q PP p P� S P p p Y P P' Y
<br /> � ��pplication of thc procceds ro the principal shall not cxtend ar pnstpone thc due datc of thc monthly payments, which arc � ' Y���
<br /> i ,. � ��4RINF.1 Pnda 3 of 6 '
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