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<br /> periods that[.ender requires. The insurance caRier providing the insurance shaU be chosen by Borrower suhject to Lender's �--
<br /> . approvul which shal!not be unreasonably Nithhcld. If Borrower fails to maintain coverage describcd nbove,Lcnder m��y,at ,•�, ,�:,;.��:;�_'
<br /> Lender's o tion,obtuin covera e to rotect I.endcr's ri hts in the Piro rt �n accordunce with '�`�`�^'��
<br /> P & p � Pe Y� paragraph7. , . _ ,_ti,-..—
<br /> • All insurunee policies and renewals shaU be acceptable to Lender and shAll include a stAndard mortgage clause. Lender � �, . _
<br /> shall have the right ro hold ihe policies and renewals. lf Lender requires,Borcower shall proinptly give ro Lender all receipts •'" �=��
<br /> ''.°:,..:��..�_,,;,_
<br /> of paid premiums and renewal notices. In the event of loss, Bonower shall givc prompt notice to the insurance camer nnd
<br /> l.ender. l.ender may makc praof of loss if not made promptly by Borrower. � �, .
<br /> Unless Lender and Barrower otherwise agree in writing,insurance proceeds shaU be applied to restoration or repair of � �' ,�`�°'-- -.
<br /> • the Propeny damaged, if the restomtion or repair is economically feasible und Lender'.s securit is not lesscncd. If the �•?+��"`��.—
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<br /> restoration or repair is not economically feasible or Lendcr's security would be lessened, the insurance proceeds shull be ;':�� •�:•;
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<br /> applied to the sums secumd by this Securiry Instrument, whether or not then due,with any excess paid to Bornower. If �� • "�'�i. �_
<br /> •� Borrower abandom the Yropeny, or daes not answer within 30 dnys a notice from Lender that the insurance carrier has '"4'*";"``�a�tu�����
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<br /> offered to scttle u claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore ,..:n',yty,di;;;�__
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<br /> ., t e I'roperty or to pay sums suured by this Security Instrument,whether or not then due. The 30-d�ty period will begin when ,r,,_=-
<br /> the notice is given. ----
<br /> Unless Lender and Borrotiver othenvise agrce in writing,ary application of proceeds to principal shuU nut extend or "_.�;ow�- - -
<br /> postpone the due datc of the rnonthly payments referred to in puragraphs 1 and 2 or change the amount of the payments. If -�%��°�_
<br /> � under paragraph 21 the Propeny is ncquired by Lender, Borrowert right to nny insurance policies and proceeds resulting =°
<br /> �.=�"=--—
<br /> from damage to the Propeny prior to the acquisition shall pa�s to Lender to the extent of the sums secured by this Sezurity ��:�_-��
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<br /> , Instrument immediately prior to the acquisition. -
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<br /> 6. Occupancy, Preservntion, MuBmtenunce and Protectlan of the Property; Borrower s Loun Appltcation; ,.:v�•,
<br /> - Leasehold�. Boirower shall occupy,esiablish, and use the Propeny us Borrower'.s prineipal residence within sixty days After �'��
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<br /> , � the execution of this Security Instrument und shall continue to occupy the Property as Borrower:s principul residenee for at �-=-
<br /> least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be �
<br /> - � ;� � unrcasonably withheld,or unless extenuating circums[ances exist which a.e beyond Borrower's control. Borrower shal) not �� -'�;�
<br /> ; destroy,damage or impair Ih�Property,allow the Property to deteriorate, or commit waste on the Property. Bonower shall ��
<br /> be in def�ult if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good fnith judgtnent `
<br /> +� .
<br /> could result in forfeiture of the Propeny or otherwise materially irnpnir the lien created by this Security Instrument or ��-'
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<br /> - _--== ciiuci a,rcu�iiy iuicrc�i. "aorrower rnay cure sucn a tiefault und rem�:tate,as provided in puragraph 18,by causing the action �•' :;•y�
<br /> • or Rroceeding to be dismissed with a rulin�thut,in Lender's goc�d faith detertnination,precludes forfeiture of the Borrower's
<br /> interest in the Property or other material impairment of the lien creatcd by this Security Instrument or Lender:s security ,r7`•
<br /> • � iiiterest. Bortower shall alsa be in default if Borrower, during the loun upplication process, gave materially fulse or
<br /> .; inuccuratc information or sta[ements to Lender(or failed to providc Lender with any mnterial infortnation)in connection with
<br /> the IoAtt evidenced by the Nrne, ineluding,but not lirnited to, reprrsentations coneerning Borrower's• occupancy of the
<br /> . Property as a principal residence. If ihis Security Instrument is on a leusehold,Borrower shall comply with all the provisions . s
<br /> of the lease. If Borrower:►cquims fee title to the Property,thc leasehold and the fcc title shall not merge unless Lender a�rees �'
<br /> to the mcrgcr in writing. �,,.-
<br /> , 7. Protection of Lender's Rights ln the Property. If Bomower fails to perf'orm the covenants and agreements •��u••
<br /> contained in this Security In�trument, or there is a legal proceedinc that may significantly affect Lender's• rights in the ° ";�, .
<br /> ' Property(such as a proceedin�in bankruptcy,probate,for condemnation or forfeitum or to enforce laws or regulations),then
<br /> Lender may do nnd pay for whatever is neccssnry to protect thc value of thc Properry and Lcnder's rights in the Propeny. '
<br /> . Lender's uctions m� include a in �n tiums xecured b a lien which has riorit over this Securit Instrument,a eurin� � ''�' `
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<br /> in court,paying reasonable�utumey�' fces .ind enterinF on the Propeny to make repairs. Althou�h Lender may take action �.'�. - --
<br /> . undcr this paragraph 7,Lender does not have ro do xo. ,.��/ -••�
<br /> Any amounts disbursed by Lend�r under this parugraph '7 shall become additionul debt of Borrower securcd by this
<br /> Security Instrument. Unless F3arrowcr :�nJ Lender agrce to othcr temis of payment,these umounts shall bcar interest from the ��
<br /> ., date of disbursement :u thc Notc ratc and shall be puyable, with imerest, upon noticc from Lender to Borcower rcquesting '�
<br /> payment. ,
<br /> 8. Mortgage Insurance. If Lcndcr reyuircd mongage insuranre as a rondition of making thc loan sccured by this ' ��
<br /> Security Instrument, Borrower shall pay the premiurns reyuired to muintain thc mortgage insurnnce in effect. If, for any t.`
<br /> � reason, thc mongage insurance rovcragc rcyuired by Lcndcr lapses or ccases to be in effect, Borrowcr shall i the � � �' "
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<br /> premiums reyuirrd to obtain rnverage substantially cyuivalent to ihe mortgage in�urance previously in effect, at a rost �
<br />_ substantially cyuiv,tlent to thc cost tn Borro�vcr of thc inortgagc insuruncc prcviously in effcrt.from an altem�tc mortgage I
<br /> insumr approved by Lcndec I f subsiantially eyuivalent rnortgage insurance coverage is not available, Borrower shall pay to
<br /> � Lcndcr cach month a sum eyu:�l to onc-nsclflh of Ihe ycarly mortgage insuruncc prcmium hcing paid by Borrower�vhen thc �
<br /> insuranee coveruge 1:►psed orceaeed�o tx in eFfect. Lender will acrept,use and retain these payments as a losti rrserve in licu !
<br /> of mortgage insuranre. Loss reserve payments may no longer h�myuircd,at the option of Lender. if mongage insurance �
<br /> roveragc(in thc amount und forthc period that L�nder reyuircs)�rovidcd by un insurcr approvcd by Lcndcr again bccomcs
<br /> availablc and is obtaincd. Borrower shall pay�he pmmiums required tu maintain mortgage insurancc in effect,ur to provide a �
<br /> loss reserve, until the rcquimment for mongagc insurunce ends in accordance with any written agr�ement behvren Borrower
<br /> and Lendcr or applicable luw.
<br /> ' 9. Inspcction. Lcndcr ar its agent n.ay makc rcasonablc cntrics upon and inspertions af thr Property. Lcndcr shall
<br /> _, give Borrower notice at the tiineof ar prior tc�an inspection specifying reasonable cause for the inspertion.
<br /> �r 10. Condemn�tion. Thc prorceds of any award ur rlcjim for darnaFcs,dimct or ronxcyucnti�il, in ronncrtion a•ith :my
<br /> Smg1e Familp•- Fannte Atudl•Ycddlr ntac UNIFOkA7 1Nti"1'RUMF:NT••Undomi C'u�en:m�, Yi90 ip,l.tr±�/n�„�.�����
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<br /> Grcat Lnktv Ominaci Fortne.Inc � •.
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