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<br /> All insurance golici�v and rauewale shall be acceptabla to L,ender and shall includa a etanderd mortgage clause.l.end�r �y
<br /> � shell have tl�e right to hold the policics and renewels. It L,ender requir�s, Aorrower ahalt pramptly g�ve ta Lender ail �,y
<br /> receipts of paid premiume and renewnl notices.In the event of loss,Borrower shall giva prompt notice ta the inaurance :-
<br /> carrisr and L,ender.Lender may mako praoi of loss if not made pmmptly by Borrower. •�
<br /> Unless L,ender and Borrower otherwiso agree in writing,inaurnnce groceed�ehell ba applied to restoration or ropair oP �
<br /> the Property damagad, if the r�storatioa or repair is economically feasible and Lender's security ie not lessened. It the ,
<br /> restoration or tepair ie not economically{easible or Lender's secusity would be lessened,the insurance proceeds shall be
<br /> applied to the suma secured by thia Security In�trument, Mhether or not then due, with any axcess paid to Eonawer. IP
<br /> Borrower abandonn the Property,or does not answcr witlun 30 days a notice from I.ender that the insurnnce carrier has
<br /> offered to sattle n claim.then I,ender may collect the insurance proceecis.L,ender may usa the proceeds to rep�ir or restore
<br /> the Property or to pay sums secured by thie Security Iastrument, whether or not then due.The 3o-'day penod will be�in .
<br />- when tha notice ia given. lication of roceecls to principal shall not oxtend or �
<br />'',.� • Unless Lender and Borrower otherwis9 agree in writing,any apg P
<br /> . postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change tha amount of the payments.I[ ',�„r"',
<br />=`,.`� . ' under paragraph 21 the Property is acquire3 by L.ender,Borrower's right to asiy insurance policies und procceds resultin� ' __
<br />- from damage to the Property prior to the acquieition �hall oass to I.ender to the eutent oP tho sums secured by thi� ��V
<br />' ' Security Inetrument immediately prior to the acquisition. • ��
<br />_ 6. Occu�namcy, Pr�servation, Maint�nance and ProtectiQn of the Propeety; Borrower's Loan Application;
<br /> Leasoholds. Borrower shell occupy,establish, and use the Property as Borrower's pnncipal r�sidencc within sixty days � �.
<br /> after tha axecution of thie Security Inetrument and sh3i1 continuo to occupy the Property as Borrower's principal residence � .`�`.
<br /> for at leASt one year atter the dnte of occupancy, unless Lender otherwise ngrees in wnting, which consent ehull not be ._ ,� -�
<br /> unseasonably withheld,or u�less extenuating circumstances exist which sre bepond Borrower's control.Borrower shall not ; _ _
<br /> desiroy, damege or impair the Property,allow the Property to deteaorate, or commit waste on the Property. Bonower `�---
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<br /> shell ba in default if any forfeiture action or procuxiiu�, �r«zr��c �i�i1 0• ^••••-•as-. is���n thnt in Lenders�ood faith �_ __ _. __
<br /> '`l ju��ment could result in forteiture of the Property or otherwise materially impair the lien created by this Security � �..'�•�
<br /> `• ' • Instrument or Lender's securitq interest.Borrower may cure such a defnult and reinstata,as provided in pAragraph I8,by
<br /> • c�using the action or praceeding to be dismissed with a ruling that, in Lend�r's goad faith determinaeion, precludes � . M1 ,
<br /> forfeiture of the Borrower's interest in the Property or other msterial impairment of the lien created by this Security i ,
<br /> Inetrument or L,ender s security interest.Bonowor shall also b�:in default i4 Borrower,during the loan applicatian process, . '�';�
<br /> gave materially talse or inaccurate information or etatements to E..ender (or failed to pro�ride Lender with eny material � .;,.,,,. �.
<br /> inPormntion)in connxtion with the loan evidenced by the Note,including,but not limited to.representations concarning ,f��,•
<br /> ;��', ' Bonower's occupaney of the Property as a principal residence.If thie Security Instrument is on a le;asehold,Horrower shall i ' •
<br /> , ' ' comply with all tha provisions of the lease. Ii Bonower acquires fea titlo to tha Property.the leasohold and the fee title ,',��
<br />- ehall not merge unless I.ender agrees to the merger in writing. :'��' '
<br />` 7. ProtecEion of Londer's Rights in the Property. If $onower faile to perform the covenants and agreements 4 '.:�.rr;,;
<br />`'��.� contained in this Security Inetrument. or there ie a legal proceeding that may significantly af4uct Lender'c rights in the • ,
<br /> � � Property(such as a proceeding in bankruptcY,probate,for condemnation or forteiture or to enforce lawa or regulations), t�,_ ; Ar�:,M�
<br /> ' then Lend�r muy do and pay for ahatover ie necessary to protect the vnlue af the Property and Lendrr's rights in the ' �:�
<br /> " Property.Lender s actions mny include paying any suma secured by n lien which hae priority over this Security Instrument, , ,,;=' � _
<br /> �� appearing in cmurt,paying reasonable att�rne s' feea and enterin on the Property to meke repairs. Although L.ender may � �
<br />_ taka action under thie paregcaph 7,Lender do�not have to do so we secured b thie �'
<br /> Any amounto diebursed by Lendar under th�s pnragraph 7 ehall become additional debt of Bono r y i .__
<br /> Socurity Instrument.Unless Borrower and Lender agrce to other terms of payment,these amounts shall bear interest from o;,
<br /> �� the dnte o� disbursement at the Note rate nnd ahall be payable, 7�ith interest, upon notice from Lender to Borrower , :�.
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<br /> ' requesting payment. ' ���'�!� t-
<br /> 8. Mortgage Yneurance. If Lender roquired mortgage inaurance as a condition ot making the loan secured Uy this �,
<br />" Security Instrument,Borrower ehall pay tha premiums required to maintain the mortga�e insurance in effect. If,for any
<br /> '• r• reason, the mortgage insurance coveraga required by Lender lapses or ceases to be in effect, Bonower shall pay the , .
<br />- premiume required to obtain coverage substantiallv equivalent to the mortgaga insurance previously in effect,at a cost ..
<br /> - �� substantiully equivalent to the cost to Bonower of the mortgage insurance previouely in effect,from an niternute mortgage �� ��
<br /> - • insurer npproved by Lender.If subswntially equivnlent mortgoge i�suranco covaraEe is not availnble,Bonower sliall pay to
<br /> Lender each month n aum equal to one-twelfth of the yexrly mortgego insurance premium being paid by Borrower when �
<br /> the ieu�urance covera�e lapsed or ceaseci to Ue in effect.Lender will accept, use and retsin these payments ns a loss reserve
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<br /> ao' in lieu of mortgage insurance. Lo� reserve payments may no longer oe requireci, at the option of Lender,if mortgage
<br /> insuractce coverega (in the umount nnd for the period that Lender requires) provide3 by an insurer approve� by Lender
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