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<br /> --�.� ` periads that Lender cequir�s. The ins�raase cazrier p�ov`�cd g th$imsurance shall be chosen by Bormwer sub,�t m I,ender's• __ __ --
<br /> --_-°E;,'-�,,�: � approv a l w l ri c h s h a l l no t i�e i m r�a s o a a b l y w i t h h e t d. I f B o r r o w e r f a i l s w m a i n t a i n c o�e i u ge descdbed abav e,Lender ma y,at � �
<br /> L �I.c�der's option,o6tain coverage to pmtect Leader's rigtus in the Pmperty in accosdanse cvith pardgcagh 7. _
<br /> �''- � r � ' : All in�urance olicies and renewals shaA be acce bIs to LendEr aad sball incinde a standard mort ctause. Lender _ -----
<br /> ����, sz•. � P P� a �8� -
<br />-:.;-f::-�-a;,':��� : sball have the right to hold the.policies and renewaLs. If Lender myuires,Boaower sLall promptiy give to Leader all teceigts �_
<br /> ��.E,� uf paid premiams aad renewal notices. In!he event of toss,Bmrowez sha11 give prompt nouce to+tfie insurancx camer aitd. ��,�_
<br /> ;=- I:atcie��Leadet tttay make pmuf of toss i€not ma�e psampdy by Botsa�re,t. . ' • --r �_ _ -
<br /> Uniess Lencisr and Borrower othe:wise ag�ee in writing,inswarcce pmcezds shall be applied t0 restoiation or�gpaa of ` R°"'
<br /> �'� -
<br /> �'"�� ' � the �f[he restar�tion or is economicall feasible aad Leuder�s is not lessened if the � `%�`�k,� --=
<br /> _',"�'"" t :^t' restora��'�on or�'�is aot economicall feasi6I�e or L.eader's secu iry would be Lessened,ttie�'msurance praceeds shall be ' �� �" _ _ -__
<br />.�=a« �,.;a. : � . y .�,5
<br /> �- • applied to the sruns secwed by this Security Insnument,whether or not then due,with any excess paid m Boaower. I f .�'�" ��°__
<br /> ���' r• .� Borrower abandons the Property,or does not answer within 30 day's a notice from Lender thal the ins�uaace catrier has � ����� `�-_r
<br /> �i�,�� � • offered to settte a claim,then Lender may rollect the insurance prnceeds. Lender may use the proc.eeds to re��'sr or restose j��.�
<br /> the Pmperty or to pay sums secured by thls Security Instrument.whether or not then due. The 30-day period wsII b�in when . .._.�__�__ _
<br /> �����. • the notice is given , . ' -� °
<br /> � ���_.,..
<br /> _"'�-��p ; '��_ Uniess Lender aatd Borrower otherwise agne in writing,any application of proceeds to principal shall not extend or ;�t -
<br /> - =.� � :':"�"`�"�'.`
<br /> -q��.;r t,;,, �..•= pastpone the due date of the manthly payments referred to in paragraphs 1 aad 2 ar change the amount of the payments. If '�_:•.a��'
<br /> ,�--6'-�:.='f,�: ander paragapb 21 the Property is acquired by Lender,Borrawer's right.to any insurance policies and pmceeds resutting .�"°�`�-:--
<br /> F��;�'4�`� � Svm damage to tSe Property prior to the acquisition shall Qass to Lender to the extent of the sums secared iry this Sec�ity t a�= _-
<br /> r?����` Insmiment Immediately prior to t6e scquisitian. . .'�-�� �-
<br /> ='"' G "s � ' BosroWeC's LoSII A li '`.'�"�� �
<br /> ,� �, . - 6. Occupancy, Pc�eservat�oa, Matntenance aad Protection of tiie Property; PP c�tfon; E�, .�.
<br /> Leaseholds. Borrower shall occupy.establis8,and use the Property as Borrower's principal residence within sixry days after `� ;�-� '�~��;-
<br /> �f s•�s--_: ;., the execution of t�f►is Secariiy Instrument aad shaII coptinue to occupy the Property as Borrower's principal residence for at . °r_�-'f�`�-
<br /> __; � ���
<br /> T ,,� , . •�--•---- - ---teast�one-year after-the-date�f-occupancy,-unless-Lender othemise-agrees-in�wri6ng;-which�onsent-shafl�-aot-6e ----�--- --- ,� _ ',�,:
<br /> . �».:-�-
<br />: -"'�:' - unieasonably witIilteld.or unless extenuating ci�umstances exist which azie beyond Borrower's wntrol. Borrower shall aot .�;• . �' �'�-'a"~=
<br /> -" destro .dama e or im au�the Pro e ,allow the Pro e to deteriorate,or commit waste on the P►v Borrower shaU "��-�Af
<br /> Y g P � P rtY P nY Pe�Y• . . '`�.�.-:� .
<br /> be in cjefault if any forfeitiue acuan or proceeding.whether civ�1 or criminal.is begun that in Lender's gpod faith judgment /._
<br />. - .• .�1�G'� , .
<br /> _ could result in forfeitare of the Property or otherwise mat�,'rially impair the lien created,by ttus 5ecurlty lastrument or
<br />- .�:� _..Lender�security interest. Barrower may cure such a.defautt and reinstate,as provided.in paragraph I8.by ca�sing the action. _ ,`,-.�. _
<br /> �,��` - � or to be 6�smissed with a rulin that,in Lender's ood faith detem�ination, ludes fodeiture of the Barrower's
<br /> . .. �;;;.: PraceedinS S g P� ,' .
<br /> _ •� . int�rest in the Property or other material impaument of the lien created by this Secnrity Insvument or Lender's securiry ' _;
<br /> . , '� ,,.,�, interes� Botrower shall also 6e in default if Borrower. during the loan a�plication process,gave materialty false or s�`�. '•'¢_ .
<br /> . �':�"• inaccurate infonnation or stafements to l.ender(or failed to pmvide Lender with any material infonnatinn)ia corutection witb '
<br /> the loun evidenced b the Note,�includin but not limited 40, re resenfations coacemin Basower's oc anc of�the . �.�a'
<br /> rz.. ' ;,�: . Y B• P S �A Y ` .� : . }•...
<br /> P ro p e rt y a s a p r i n c i p a l re si d e n c e. I f t h i s S e c u r i ry I n s w m e n t i s o n a l e a s e h o l d.B o r r o w e r s h a l l c o m p l y w i t h a U t h e p m v i s i o n s � �- �+�� rc,, �
<br /> • • of the Iease. If Borrower acquires fee title to the Property,the leasehold and the fee titte shall not merge unless L.ender agrces ' . ; � •
<br />�:'k:�:'_�'•"�°:.,. i � to the merger in writing. . � , ,�� �"�-r'.
<br /> � .. � 7. _ProtecUion of Lender's Ytights In We Property. If Borrower fails cu perForm [he covenancs and agreemenu r:�`
<br /> �i��`� �� � � � coniained in this Sectui Instrument,ar there is a le roczedin that ma si icantI affect Lender's ri ts in the �
<br /> - , ��:, �,. ty �P � Y � Y Sh - '.+� _.
<br /> ' �3-, Property(sach as a proceeding in 6ankruptcy.probata,for condemnarion or forfeiture or to enforce laws or regulations),then � ,��:• �
<br /> . Leader may do and pay for whatever is necessary to protect the value of the Property and Lender's rigtets in the Property. .• ' =�
<br /> . - . ' 'y � ; l,ender's actions may include paying any sums secured by a lien which has priority over this Security Instrument,appeating • .� ` ",�;- �,
<br /> " �'�.; � in conrt,paying reasonable attomeys'fees and entering an the Prapemy to make repairs.Aithough Lender may take action . �
<br />:":;�=���.,.'`;.�,,_�� ; utuder this paragraph 7,Leader does not have to do so. � ,-:�i!�j%_.
<br /> � � ., �. I Any amounts disbmsed by Lender under this parapaph 7 shall become additional debt of Borrower secured by this ��
<br /> Security InstrumenG Unless Borrower and Lender agree to other terms of paymen�these amounts shall bear interest from the
<br /> _ �: � date of disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Bortnwer requesting . . .
<br /> _�-° _ , Paymen� . �
<br /> r ` `•- V� � 8. Mortgnge Insn`rance. If Lender required mortgage insurance as�a condidon of ma[cing the loan secured by this - � � � �'� -
<br />• -'.. •��-, • Security Instrament,Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If,for any �• '� %`
<br /> `;��t.�',:., ' .'reason. the morty�age insurance coverage requ�red by Lender lapses or ceases to be in effect, Borrower shall pay the • �
<br /> __-�i�: -�.�'• premiums reyuired to obtain coverage substantially equivalent to the mortgage insurance previously in effect. at u cost ' ,��;''��
<br />:�,,;;. .� � substanUally equivalent to the cost to Borrower of the mortgage insurance previously in effect.from an altemate mortgage
<br /> �'��•�-�� ••y�•�'' insurer approved by Lender. 1f substantially equivalent mo�tgage insurance coverage is not availabte.Borrower shall pay to __ . . ._ _.. .
<br />- `=J'°��'"'� � Lender cach rrtonth a sum squal to one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the � .
<br /> -�'"-�� � � • insurance wverage lapsed or ceased to be in effect Lender will accep�use and retain these payments as a loss reserv�in lieu �
<br /> �;�b,��+���1�" � of mortgage insurance. L•oss rescrve payments may no longer be required,at the option of Lender,if mortgage insurance '
<br /> ,:_� , . , �
<br /> -�_ _'�y r . coverage(in the amount and for the period that 1„ender requires)provided by an insurer apprnved by Lender again becomes .,
<br /> __ �. ;K.� availAble and is obtained.Borrower shall pay the premiums required to maintain mortgage insurance in effect.or to provide a � • ..
<br /> --'_;;<-�� , loss reserve.untit the requirement for mortgage insurance ends in accordance with any written agreement between Borrower �
<br /> �"'"�`•�'�°�r` � and Lender ot applicable law. . : .
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