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<br /> � .�� �� S. Hszard�ar Psopeftgr Insuraaca. Borsower sh�ll keep the impravemeate now�u�i�os hereaiter erect�d on . . _ � , � �
<br /> ' . , �.; ��. . the Propesty insured ageinst loss by 4ire.ha�zards included within the term"extended coverage"and any other t��ards, . � .
<br /> a
<br /> � ��' �� • including ftaods os floodia�,tor wluch Lender requires insurance.This insuranae shall�be maintained ia the amounts �� . .
<br /> -' ��✓"�-�.- ' aad for the periods that Lender requires.'fhe insurence carrier praviding the insurauce shall be chosea by Borrowet - -- — —
<br /> subjact to Lender's approval wluch shall not be uareasonably withheid.ff Borrower fails to maintain coverage described
<br /> . `•� r above.Leader may, at Leader's option,obtain covetage to protect Lender s rights ia the Pmperty iA accordacce with �� � -- ` • ,
<br />_. � �... ParaA�aPh 7. .
<br /> . « All insn*s�nce golieies st�d renewals shell be seceptable to I.eudet and sh211 includs a stattda:d mortgage clause. �-�..-- --- �:�---� �-�� :
<br /> 4
<br /> -" ' � � Lender shall have the right to hold the policies sad rene�vals.If Lendes requires. Borrower shall�promptly give to �.;:__�.::-.-_'�.._..,: __� '
<br /> ''-�..'.. •�� . • . Lender all receipts of paid premiums and renewal noiices.Iu the event of loss.Borrower aball give prompt notice to the . . . , .
<br /> � . insurance canier�ad Lendes.Leader may make proof of los9 if not made promptly hy Borrower. <
<br /> - • Uples9 Lender aad Borrowet otherwise agr�in writing,ir�surance prooceds shall be agplied to restordtion or repair . , � ` _. �
<br /> '� `♦` of the Frogerty dama�ed,if the restoration or repair is ecoaomically feasible and Lender's securitp is r.ot le�ened.If the � . . . ,' -
<br /> � - � � restoration or repair is aot econoauc�llq feasibte or l.eader's security would be lessene�,tthe ins�rance proceeds sha111�e _� : . _ _ '�
<br /> ` � applied to the sums secured by ttiis Security Instrument,whether or not then due.with any eacess paid to$orrower.If _ , , �
<br /> � �� Borrower abandons the Property,or daes not answec witlua 30 days a natice�rum Lender that the insurance carrie�'has . � , •
<br /> ' " offered to settle a claim,then Leader may collect the insurance pmceeds.Lender may use the pruceeds to repair or � .:.
<br /> , . • r�tare the property or m pay suma secured by this Security Instivmea�whether or not then due.The 30'day periad w'sll y �. :., w: : . _
<br /> - , . . 6egin whea the aotice is�ven. . • � .
<br /> � � • � Untess I.ender aaci Borrower otherwise agree in writing,any applicatioa of proceeds to principal shaiI not estend or . `T�,,;,,,r,_:,
<br /> : ... • �•<
<br />- . --� _. _-� �•,• - ,: - �----- --�----. ... .---...---- --�- - --- . _
<br /> - �.c.�`. , _ postpone the de�e date of theiiion�►t ly pay�euts re�feired�to-iD�saragraph�i and Z�or chaage theamoun�o��thepayments. -----t.,�—-- . �.,� •
<br /> .. . If under paragcaph 21 the Progertp is acquired bp Lender.Borrower's right to any insuraace policies an@ praceeds . . . . . '�:�.
<br /> ' ,� . � resulting from damage to the Property prior to the acqnisition shall pass to Lender to the eatent of the sums secured by , `: ����
<br /> � � ' ;� � this Securitq Instrument immediately prior to the acquis�uon. � - .,;�;'—
<br />_.: . , � � .~. .�`� ' 6..Ocxu}�ancy,Preservation,Maimtenanceand Protection of tf�eProperty:Honower_s LoaaApplication; .. . �:_,,.�•_ ..
<br /> -� . . •� ,; ---- Leaseholds.Bortower ahall oceuPY.establish.and�ise the Pioperty as Horrower's ptineiga�tesi�ien�e within sistg daYs _ ��:�;.'.
<br /> �' - ' after the eaecutioa of this Security Instrumeni aad shall continue•tv-a;cupy the Property as Borrower's priacipal , F, ''
<br /> �� _.. .. ' residence for at least one year after the date of occupancy,unless Lender otherwise a�in writing,which consent shall `_'`:� _
<br /> • � aat be unreasonably withheld,or nAlesw eatenuatiag c�rcumstances eaist which are beyond Borrower's control.Borrower • � � � :
<br />— � ��- - • shall not destroy.damage or impur the Ptaperty.sllow the Proper�y to deteriorate.or commit waste on tAe Property. - .-�-; - •
<br /> � . Borrower shall be in default if any forFeiture action or proceeding,whether civil or criminal,is begun that in Lender's . � ;�.^
<br /> ti . . . . .:
<br /> � good faith judgment could result ia Yorfeiture of the Property ot otherwise materially impair the lien created by this
<br /> ' Security �nstrumeat or Lender's securitq interest. Bonower maq cure sach a default aad reinstate,as provided in _ . , � . � ';;,. ,
<br /> ' . paragraph 18. by causing the action or proceeding to be dismissed with a ruling that, in LendePs good faith . : , �•.,h',,�t''a '�.
<br /> - � ' - determinatian,preciudes forieiture of tha Botrower's interest in the Property or other material impairmetit oi the lien � _.__.....' � �;6 ' •;
<br />— ' � � created by this Secvritp Instrument or Lender's security interest.Borrower shall also be in default�f Bonower.during : ' _, ..'�
<br />-�� � ' the loan application process.gave materially false or inaccurate iaformation or statements to LeAder (or 4siled to
<br /> � • � � pzovide Lender with any material iaformation)ia cannection witb the loan evidenced by the Note.including,but not �� . ,.y�y�<
<br /> - • limited to.representat�ons conceming Borcower's occupancy of the Property as a principal residenee.If this Security - % �
<br /> � Instruraent is on a leasehold,Borrower shall comply�vith all the provisions nf the]ease.If Borrower acquires fee title to . �;.�;�' , .
<br /> �•� �.: .� ' the Prqnerty,the leasehnld and the fee title shall not merge unless Lender agrees to the merger in Hriting. '. , .
<br /> � � 7.Protectioa of l.ender's Rigbts in xhe Property.If BorroNer fails to perform the covenants and agreemente .
<br /> " � ' � contained in this Security Instroment�or there is a legal proc�eding that may significantly affect Lendet's rights ia the . - .
<br /> • ' ' '.�� Property (suah as a ptoceeding in bankruptcg. Probate. for condemnation or forfeit�re or w. enforce lacva o,t . . .. ' . .., ., .. .
<br /> z: ' regulations}.then Lender may do and pay for whatever is necessary to prote�t the valos of the P�operty aaa Lender's .
<br /> - rights in the Property.Lender's actions tnay iaclude paping any sums secured by a lien which has pnority over this '' . .. �_�. ,�
<br /> - ' � � • Security Instrument.appearing in court,paying reasonable attomeys fees and enteting on the Propertq to malce repairs. �; ,.
<br /> • ' � Although I.ender may take action uadec this paragrt+ph 7,Lender does not have to do so. �r .
<br /> - � . , ,� Any amounts disbursed by Lender under this pasagraph 1 sha11 bscome additional debt af Borrawer secured by this .
<br /> - � Securitq Instrument.Unless Borrower and Lender agree to other terms of payment.these amounts shall bear interest � ��
<br /> , . � from the date oi d'isbursement at the Note rate and sha11 be payab2e,�vith interest,upon notice trom Lender to BonoNer � . �
<br /> � ,: requeating payment. '
<br /> �w. �•- � 8.Niortgsge Insursnce.If Lender required mortgage insurance as a condition of malcing the loan secured by this ;
<br /> � � . Security Instrument,Borrocver shall pay the premiums required to maintain the mortgage insurance in effect.If,for any . _
<br /> ,� � � �- reason,the mortgage insurance coverege required by Lender lapses or ceases to be in effect, Borrower shall pay the f '� .
<br /> - premiums reqwred to obiain coverage sui�stantially equivalent to the mortgage instuance previously in effect,at a cost
<br /> ' ° � substantially equivalent to the cust to Borro�ver oi the mortgage insurance previously �n effect, from an altesnate � . :
<br /> �, mortgage insuret approved by Lender. If substaatially equivalent tnortgage insurauce coverage is not evaiiable. .
<br /> � Borrower shall paq to Lender each month a sum equal to one-nrelfth of the yearly mortgage insurance premium being
<br /> , -;� � , � � . , paid by Bortowet when the insurance coverage lapsed or ccased to be in effect.Lender will axept,�se and retain these ,
<br />- ' papments as a loss reserve in lieu o4 mortgage msurance. l.oss resen+e payments may no longar be required,
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