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<br /> ""` �`'`� ��• 5. Ha�ard or�Ptage�iy IastBaace. Borrower sha[i�keep the imp��meats o,aw eicisting or he�eafter emcted on the ��``t=}<;:�.=:�.-4�
<br /> .. �, �. F' '�
<br /> .� �' F. ; ,Froperty ins�red against loss by fire.ha�+ds included withia the term"extended wverage"and any other l�azards.including � � �`�F : ---
<br /> , ; • ,'. ftoods br floodi�,for which Lender requires insurance.This insurance�shall be maintained in�he amounts and for the periods �� � ._�s�t�' '
<br /> ' `� • � that Lertder�myvires.The insiva.lce camer providing the insurance shali be chosen by�orrower subject to Lender s app�oval , � �t �F.:.:..' -�-=
<br /> �� �-'`--.T- which sbait aot be anreasonabIy withfieid. ff Barrower faiis to maintaia caverage deicribed abave. Ler�tler may. at Leadcr's - 'G --:�-'- _--
<br /> option.obtain caverage to protect 7[xAder s rights in the Properry en accordance with ParagraAh 7. ' . ., , `* =
<br /> � . � . �11 insurance poticies aa�t r�cewals sirall be acceptahte to E.�nder and shall include a standard rstartgage clause. Lender �?'`-�r�`..'r'�r`��
<br /> .� •: � . shall dave the right to.hold t6e poticies and renewais.[f Lender requires.Bnrrawer shall promptly giv�to Lender all reccipts of = �� =
<br /> ; . .."� paid premiums and rertewa!notiees.In the event of loss.Bomawer shall give prompt notice to the insurance carrier and I.ender. ,:��=�_����m
<br /> "'.. '. ' � _ Lender may make proof of loss if nat made promptly by Borrower. � "���"•�`=�""_.
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<br />- � ; � Untess Lender awd Borrower otherwise agr�e in writing. i���+�nce pmceeds shall be applied to restoratior►or repair of the • ��=`=�=-_---
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<br /> • Property damaged.if the restoration or repair is economically feasible and Lender's security is not tessenecl.If the i�estoration or �����y����. ___
<br /> ��� � . .' ` " ' repair is not economically feasible or I.ender's secuaity would 6e lessened,the insurance proceeds shall be applie�to the sums - __--
<br /> .�� • seciued by this Securiry Instrument, whether or nof then due.�with any excess paid to Eorrower. If Borrower a6andoas.t6e �.�.�__._
<br /> ���-.:._--_- -
<br />��� �' � :. '''; ;, _ Property.or daes pot ansvuer within 30 days a nntice&om Lendsr t6at the inswance carrier has.offered ta senle a claim,then -_=-_ _
<br /> ��, - ' �.•� ' Lender may collect the i*+c��*+c� prace�ds. (.ender may.use the proceeds to repair or restore the Property or w pay sums v
<br /> � . `�
<br /> � secured 6y this Security InsVUment.whether ar not then due.'the 3Q�ay period wiil 6egin when the notice is givea. �1�_-_-
<br /> . �, Unless Lender and Borrawer othe�vuise agree in writing, any application of proceeds to printipal shall not e�uead or , .�--
<br /> . .. _.,
<br /> , . � --
<br /> • . . - ---
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<br /> � . ; postpone the due date oi tAe monthly payments referred to in pazagiaphs 1 and 2 or change the atmount of the payments. Yf --
<br /> -,, .._.—.., . .
<br /> , un�er�-------Ti-2ftliel'�ro e--�-'is �uue3Ti�.enslec.B�ortower's='i"}it�io an-�insfiraj[�� li�[es�nd� roreeds resutiin firom -� ---
<br /> P�B�P P rtY �4 Y B Y � P g _�_
<br /> • ' °. damage to the Property prior w the acquisition shall pass to Lender to the extent of the sums seeured by this Securiry Instrument ���- -
<br /> • '%= , • immediately prior ta the acquisiuon. °--
<br /> ° 6.Occupaacy,Pr�servat�on, �6Z�tenanee and Protect�on of ttie Property;Borrower's a.oan Applicaifoa;Leasehoids. . _=_-
<br /> -�-�• � .. �� . - Borrower shall ocxapy,establisfi,aad use the Property as Eorrower's principal residence.within sixty days aRer the execu6ott of� • ����=�
<br /> �"�'----
<br /> � � this Secvrity Instrument and shall conrinue to occ�py the Property as Borrower's p:incipal resideace for at least one year aRer �'����=�
<br /> � �� the date of occupuncy,unless Lender athetwise agrees in writiug, which conse��sball not be unreasonably withheld,or uniess -- �'H"'
<br /> , • �� •• � extenuating eircumstances exist �vhich are beyond Borrower's coatrol. Borrower shall not de�uoy. damage or impair the -- ��=
<br /> . � . . - . Property,allo�v the Property to detercr�te, or commit waste on t�e Property. Borrower�frall be in defauit if any fodeiture ��"
<br /> • ' action or proceeding, whether civi3 or criminal,is begun that in Leader's good faith judg��a could result in forfeiture of the , � �
<br /> Pro e or othenvise mat`riall t air the lien creazed b this Securi Instrument or Lender's securi intet�,st.Borrower ma �s.`'
<br /> p rty Pri y'mp ' Y tY tY� Y .
<br /> � � cure sucit�deFault and reinstate.as pmyided in para�aph l8.by eausing the acri�a ar proceeding to be dismissed with a ruling -'
<br /> ' ' that. in Lendes's good faith dete on, precludes forfeiture of the Borrower's interest in the Property or othei materlal ��'
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<br /> � • �°��,i>:,' � impaiiment of the lien creatcd by this 5ecurity Insuument or Lender's sacurity interest. Borrower sha;l atso 6�:in.defa�t if _
<br /> "` Borrower.during the taan appliration process.gave materially false or inaccurate informarion or statements Go Lender(or failed `'.�
<br />- � � '. to provide Lender with any material infonnation)in connection with the loan evidenced by the Note.including.but not limited ,
<br />-: � � to,representatians conceming Banower's occupancy of the Property as a principal residence.If this Seitirity Instrument is on a �
<br /> , leasehold, Borrower shall,comply with all the provisions of the lease. If Borrower acquires fee title t� the Property, the �L` _'
<br /> ' ,. . � ,. teasehold and the fee title shaU not merge unless I.ender agrecs to ti:e rnerger in writing.
<br />_.;�;::..:��,.::.:. : • 7.Protection oY�.ender's Rights in the Property.if Borro41 er�ails to perform the covenants and agreements contairad in e�1:,;;�'"�
<br /> �` :�-�-°��� -' ; this Security Inswment,ar there is a legal proceeding that may si�nificantly affect Lender's rights in the Property(such as a - -_
<br />_:�. ::. � � --
<br /> , , . • proceeAing in bankntptc�.probate. for wndemnation or forfeiture or to enforoe Eaws or re�ulations),ther�Lrender may do and --_ ___
<br /> • pay for whatever is necessary to pmtect the valne of the Property and Lender's rights in the Property. Lender's actions may T ;�;,�a��
<br />- ' include paying any sums secured by a lian which has prioriry over this Security instrument. appearing in couri. Qaying -'.•���.._
<br /> .�: : •. �'•�'.�;;, reasonable attomeys'fees and enterictg an the Property to make repairs.Althdagh I.ender may take action under th3s paragraph � �
<br /> ��N"—
<br /> - ' �'.Lender does not have to do so.
<br /> . An amounts disbursed b L.ender under this ara fi 7 shall become additional debt of Borrower secumd by this .'����,,���
<br /> Y Y P �P .
<br /> - ' : � ' Security Insuument.Unless Borrower and I.cnder agree to other terms of payment.thesd amounts shalt bear interest fram the ' :'.,�.' `�.�
<br /> '` • date of disL•ursement at the I�iote rate and shall be payable, wirlt interest, upon notice from Lendcr to Borrowcr requesting � � � �' �
<br /> ; •
<br />-}_. ' payment.• • • . . , ��.
<br /> = i.
<br /> �`r � . 8.Mostgage Insuranee.If Lender required moagage insur�.s*.oe as a wndition of making t�e Ioan secured by this 5ecurity '
<br />`E�� . � . lnstrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, titc � � . � �
<br /> .
<br /> `'.; . '. . . , mortgage insurance coverage required 6y Lender lapses or ceases to be in effect.Borrower shall pay the premiums required to . . . 1
<br /> " obtain coverage substan6ally equivalent to the mortgage insurance previausly in effect.at a cost substantially equlvatent to the � ' • . !
<br /> � •�-:. ..� •.�: �''�' wst to Borrativer of the mortgage insnrance previously ire effect, from an alterpate mortgage insurer approved by Lender. If • ' ��
<br /> '�=��' � substantially equivalent mortgage insurance caverage is not avallable.Borrower shall pay to Lender each montb a sum equal to •
<br /> _�_ . . .
<br /> _���• ., � one-twe1M of the yearly mortgage insurance premium being paid by Borrower when the insumnce coverage lapsed ar ceased to � •
<br /> .s`.� . ' � be in effect. Lender will accept,use and retain these payments as a loss reserve in.lieu of mortgage insurance. Goss reserve ,. � -. ,�
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