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<br /> • ,, perioJs that Lender rcyuires. The insuriuue currier providing the insur,mce shall be chosen by Horrowcr subject to Lender's•
<br /> . appruv�►1 which sh�dl nut tx:unr�iisunably withh�ld. If Durrwver fuil�to muintuin a�vcragc dc�critx:d�dwvc.L.enctcr muy,iit �---
<br /> , . I.cndcrti aption,obtain covcragc to protect Lcndcr's rights in thc Propery in accordiincc with para�raph 7. —
<br /> All insuraucc policics aitd rencwnls shall bc ucecptablc ta Lcndcr and+huU includc a SRindard mort�agc cluusc. Lcndcr
<br /> , shall have the right to hold the pulicies and renewals. If Lender reyuires,Borrower shall promptly give to L,ender�dl receipts
<br /> � , �f paid premiums:md renewal notices. In the event of loss, Borrower shall give pr�mpt notice to the insurince carrier and
<br /> Lender. Lcndcr m:►y make praof of loss if not made prompdy by Borr�wer.
<br /> Unless Lend�r and[ioROwer othenvitie agrec in writing,insurance proccedti shull be applied to restoratian or repair of
<br /> • thc Property Jamagcd, if thc restoration or repair is economically fcasiblc and Lcndert �.ecurity is not lesscned. If thc "�
<br /> restoratian ar rcpair is not economically fcasible or Lendcr's sccurity wo�ild be Iessencd, thc insurancc proceeds shall be
<br /> applied to thc sums sccurcd by this Sccurity Instrument, whetlier or not thcn due, with nny c:�cess paid to Borrowcr. If
<br /> Borrawer ubandons lhe Property, or docs not answcr within 30 days;i notice from Lender tbat thc insurancc carrier hns –
<br /> , offered ta setNe a claim,then Lender muy;allect the insurance proceeds. Lender may use the procecds to repair or restore
<br /> , the Property or to pay sums secured by this Securiry[nswment,whether or not then due. The 30-dny period will begin�vhen
<br /> „ „ the noticc is given.
<br /> , Unlcss Lcndcr and Borrowcr othenvisc agrce in writing, any application of procceds to principal shall not extend or
<br /> •• postprnt�the dur.dcite of the monthly payments referred to in puragraphs I mid Z or ch:�nge the .unount of the payments. If —_
<br /> " under paragraph 21 the Propeny is ucquired by Lender. Borrowers right to uny insurance policies and proceeds resulting
<br /> from dama�e to thr!'ropeity prior to the acqaisitiun shall pass to Lender to the extent of the sums�ecured by this Security �.-.
<br /> � lnstrumcnt immcdiutcly prior to thc acyuisition. __
<br /> 6. Uccupuncy, 1'reservatlon, Maintenance and Protectlun of the Property; Borrawer's Loan Applicntlon;
<br /> Leasetrolds. Borrower tihall occupy,establish,an�i uze the Property as Borrower ti principat residence within sixty days aftcr Q=
<br /> - the execution of this Secu�ity Instrument:u�d shall continue to orcupy the Property us[ioROwer�principal residence for at =_:.
<br /> - least one ycar :►itcr thc date of oc;cupancy, unle.r•s L.endcr othcrwise ugrees in writing, which consent shall not be
<br /> „ unRasonably withheld,or unlcss extcnuating circumstanccs cxist which ure beyond Bono�ver'.s cunt�ol. Borro�ver shall not
<br /> destroy, damage ur impair the Property, allo�v thc Property to deteriorate, o*commit waste on the Property. Borrower s;iall —
<br /> , be in default if any f,�rfrilurc action or procccding,whcthcr civil or criminal, is bcgun thut in Lenders good faith,judgment --
<br /> could result in fortciturc of thc Property or othenvise mutcrially impair the licn crcated by thiti Security Instniment or --
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<br /> or proceedinb�o he dismisticd�vith a ruling that.in Lender's Fuod faith determin:�tion,prccludes fori'eiture of the Borrowr.rY _.-
<br /> intcrest in [hc F'roperty or othcr matcrial impaimient of the lien rrcatcd hy this Sccurity Instrument or Lendcr; security _
<br /> intcrest. Borro�ver �hall also hc in default if f3orcower, during thc loan application process, gave materially t:�lse or ---
<br /> inaccurate infomiation or statcmm�ts to Lendcr(or failed to pmvide Lender with any material inforniation)in connection with
<br /> thc loan evidcncrd by the Note, including, but not litnited to, rcpresentation� concerninF Borcower's• occupancy of the �����
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<br /> �.. � Property;iti:►principnl mxidence. If this Securiry Instn�ment is on a Ieasehold,Borrower shaU comply with all the provisions ��.n
<br /> of thc Icase. If Hurruwcr acyuircs fcc titic to thc Property,thc leaschold and the fec titic shull not mcrgc unless Lcndcr agrces �'�`
<br /> • to thc mcrgcr in�vriting.
<br /> 7. Protectiun of I.ender's Rights in the 1'roperty. Ii' Borrowcr fails to perforni thc rovenants and ,igreements �
<br /> � containeJ in this Scruriry Instrument, or therc is ,i Icgal prorcedin� Ihat may significandy at'fect Lendcr's rights in the ,
<br /> , , Property(such as a proceeJing in bankruptcy.prohate,for condemnation or forfciwrc or to enforce laws or regulations),then
<br /> Lender may do and pay for whatever is nece,,:�ry to protect ihc val.ie nf the Property.ind Lendrr', rights in thc Property. .,
<br /> � Lendcr's actions mcry indudc paying.my sumx .ccureJ by a licn which has priority ovcr thi`Sccurity Instrumcnt,appcaring
<br /> in court, paying re�sonable attorneyti'fcrs cuid entcring un thr Proprrty to makc ropain. Although L�nder muy take uction -
<br /> ° . undc:r this paragrnph 7,LcnJcr docs not havc to do so,
<br /> Any amounts dishn-��d b�� Lendrr under this paragraph 7 shall bccomc additional deht of'Borrower sccurcd by this
<br /> Securiry Instrumcnt. '•nlr��Borrowcr and Lrndcr agrec to uthcr ternix o(payntent,th�se:imounts shall bcar intem,t from the
<br /> �, date of disbunement a� ,ne Note r.Ue und shall bc p;►vablr,with intere+t, upon ninicr from Lcnder to Borrower reyucsting
<br /> p�pment.
<br /> 8. MoMgnre Insurnnce. If Lcnder reyuirrd mortgage insurance uti a rcmditiem of'mciking the loan sccurcd hy this
<br /> Sccuriry Instrumcnt, Rorrowcr shall ray thc prcmiums rcyuircd to maintain thc mortgagr insurancc in effcct. If, for any
<br /> � rcason, tttc m��rtgage intiurancc covcragc reyuircd hy Lendcr laplr. ��r reasrs t�� hr in rfferL Burrower tih:�ll pay thc
<br /> Y ' remiums rc uired to obtain cover��� tiubstanti.dl r uivalent to the mort•i�� inxurance rc.viouxl m ef'fect, at a cost
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<br /> substantially eyuiv,ilent to the rost to Fiorrowrr of thr mortgage insurance pnviously in effecl, from an alternatc mortgage
<br /> insurer upprovcd by Lcndcr. If subst�tntially cyuivalent tnurtgagc intiurancc ruvrra�c i,not availahle,Bormwcr xhall pay to
<br /> . Lender each month a sum eyual tu�me-tu•elfth��f the yrarly mortgage insur.mcr premium hr.ing paid hy B��rrowcr when thc
<br /> insurancc coverage lapsed or ceased to br in effrrt. Lcnder will arcept,usc and rrlain these paymentx as a loss rc�erve in liru
<br /> . of mortgagc insuranrc. Loss rcticrvc paymentx may nu lungrr hr rcyuircd,.it thc option of Lcndcr, if m��rtga�r insurancc
<br /> co�•crage (in thc amount and f��r Ihr prriuJ that LrnJcr Ryuirc�)providcd by an in.urrr apprv�•rd by Lcndcr ugain hrcomc+
<br /> availablc and is obtaincd.Borrowcr�hall pay thc premiums rcyuircd to maintain mortgagc insur,incc in cttect,or ro proviJc a
<br /> ," loss reserve,until the nryuircment for mvngc��r insurance cnds in�recordance with any written agrcement hetwecn Borrower
<br /> and Lcndcr or applic:ablc law. �
<br /> 9. Inspect[m�. L�ndcr ur ils agcnl may makc rcasonablc entrics upon and inspertionti of thr Proprny. Lcndrr,h:►II �
<br /> • - gi��e Bornuwer noticc at the time of or prior ro an inspection sperifying rtasunable cause for the inspection. .
<br /> 10. Condemnation. Tlte prorceds of an��award ur rlaim for damageti,dirccr or r�muyucntial, in rcmnrrtion with:iny i
<br /> Singlc Pamily•-P:tnnic\1nc/1�}cddlc�Lic l'NIF(112�1 INti 1'RI'\1F:KT�-l'ndnmt C�.�rn:mt. 9/90 �p,rcr?��I n p�i.tr,i
<br /> � Gnal Inkr.�1luslncav F�rm+.Inc � '
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