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<br /> 5. Hu��xd ut• Prnperty Inswrance. �orrov�cr shull kecp the improvements now Cx�Ci�' a�A`�a'ICr�ac`���cludin�g .. •
<br />;.�,,,•.:,^:.�., �s1 Propcny insurcd agaimt iu,+�y �rc, h.uards includcd«�itliin thc tcrni "cxtcndcd c�vcraFc Y Y
<br />��,_:' ,� floods�r flooding, for which l.ender requires insurance. This insurnnce shall be maintuineci in the amciunts and tor the periods
<br /> that Lender requires. The insuruncc carrier providing ihe insurance sltall bc chosen by Borrowcr subject ta L.ender's approval '
<br /> ` ,���-�� which shull not bc u►ireasonably withheld. If Borrower fails to maintain c��vcrage Jescrihcd above, Lcnder may. aU Lcndcr's :
<br /> . %�•W+��`°""�` opti�m,obtain coverage to protcct l.ender's rights in the Prnperty in accorJance�vith puragraph 7.
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<br /> , All insurance policies and renewals shall be ucceptable to L�:nder and shull include a standard niortgage cluuse. Lender .
<br /> , shall have the:right to hold lhe policics�nd renc+vuls. IF L,cnder rcquires,Burrowcr shall promptly givc to Lcndcr all rcccipts af ,:
<br /> • paid premiums and renewal notices.In the event of loss, Burrower shall give prompt notice to the insurance c:�rrier and L.ender. � �; ,
<br /> Lender may makc proo f o f loss i f no t made prom ptl y by Borrower. �= ;f •
<br /> •� L,�iW, �,,;,,.i;:r�;,u Borrovrec otherwi.� :i�ree in �vritinF, insurance proceeds shall be appliul to resio�ation or repair of the _ �:��_ �
<br /> - , � Propeny dlnu�ged,if the restoration or rcpair is ec�nomir.ally fcasiblr,und i.cncier's security is not Iessened.If[he re�tu�aliuu ui `.T�,,�..
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<br /> �, • rcpair is not econonticully feasiblc or l.�:nder's sccurity wuuld be Icsscned, thc insurancc pracecds shall bc applicci to thc sums �';�..,.�.•— f�1•
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<br /> = :,,:�,•;' , sccured hy this Scc:urity Instrument, �vhetli�r or nut tiien Juc, with A�tiy excess paid to Borrower. If eorrawer abundons thc ��t�'u,i�=_=—�__ �
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<br /> Property,or does not answcr within 30 days a notice from L.cnder that thc insur.tnce currier hus offcrc�l tu setde a clairn, thcn �,���_".�--�_ _
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<br /> L.ender may collect the insurance proceecis. IAnder may use the procceds tu repuir or mstare the Property or to puy sums __�
<br /> ' secureci by this Security lnstrument,whether or nrn then duc. The 30-day pe�iud will Uegin�vhen the notice is given. �____ —
<br /> r Unless l.ender snd Borrower��therwise agr� in writing, smy uppliuuiun of proceeds to principal shall not exteud or �;_.����__.--= _
<br /> � ...-_ postpone thc duc datc oi thc m��nthly payments reFcrred w in ��:ttagraphs I and 2 or change the amount of the payments. If =� J—
<br /> .. <�. � under paragraph 21 the Property iti ucquireci by I..ender, Borrower',�ight ta any in::urance policies ond pracceds resulting from �_-�-�_
<br /> "� damagc to thc Property prior to thc acquisition shall pass to Lender to thc extent of thc sums secured by this Security Instniirient
<br /> �'�'�i immecliately prior to the acquisition.
<br /> . ' . 6. (kcupancy,Freservu�tion. Maintenance and Protection of the Property; Borro�ver's Loun Appltcation;[,easeholds.
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<br /> Borrawer shall occupy,establish,and use the Property as Bormwer's principal resiJcnce within sixry days ufter the execution of �`_ _
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<br /> '�� this Security lnstrument and shaU continue to occupy the Property aM Borro,vcr�f prine„pfl�c i�nreasonnblv w thheld,Yor un ess —
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<br /> � the date of occupancy, u»less L.ender otncrwisc agrcc�iu.���t���g• ��"S"'`�""�"'°••°. "' . -
<br /> extenuating circumstlnees exist which are beyond Borrower's cantrol. Barcower shall not destroy, damuge or impair the -
<br /> '� �.� Property,a11ow thc Property to deteriorate, or commit wastc on the Property. Borrower shall bc in default if any forfeiture
<br /> action or praceeding, whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> � Propc:rty or otherwise uiateriully impair the licn created by this 5ecurity Instrument or L,ender's security interest.Borrawer may
<br /> ' cure such a defuult and reinstate,as provided in paragraph 18,by cuusing the actian or proceeding to bc dismissed with n ruling _
<br /> , , • , that, in Lendcr's gaod faith detenninatinn, precludcs forfciturc of tlic Borrower's intcrest in the Property or other material
<br /> � impairment of the licn created by this Securiry lnstrunicnt or L.ender's security interest. Burrower shall also be in default if — ,
<br /> � ' �' � Bonower,during the loan application process,gave materiaUy false or inuccurate information or statements to L.ender(or failed �
<br /> �� � � � to provide l.endcy�with any material ini'ormationl in connection with the loan cvidenced by thc Note, including,but not limited
<br /> to, reprr.sentations concerniog Borrower's accupancy of the Yr��perty us a principal residence.If this Securiry lnstrument is on a
<br /> � 'a•� 1C:tsChold, Borrowcr shall comply with ull thc provisions of the Iwse. If Hormwcr acquires fce tidc ro the Property, thc _
<br /> � � �� leasehold and the fce tide sliall not ntcrge unlcs�Lender agrces to the merger in writing. _�''
<br /> - ' �, 7.Protection of i.ender's Rt�l�ts in the Property. If B��rro���er tails to perform the covenants an�agreements contained in _
<br /> ' '�'�� `�+� � ' this Security Instrument, or thcrc is a Icgul praeeding tliat may significamly affect l.cnder's rights in the Property(such as a _____ -
<br /> .�;� procceding in bankruptcy,probate. for condemnation or forfciture or to enforcc laws or regulations), then l.ender may da nn�
<br /> j�' pay for whatever is necessary w protect the value of the Property und 1.ender's rights in the Praperty. I.xnder's actians may ___ __
<br /> • �, include puying any sums sccured Ny a lien which has priority over this Securiry Instrununt, uppeuring in court, paying _ _ =,
<br /> „ � rcasonablc attorneys' fees and cntcring un thc Property to makc repairs. Although Lendcr may tukc action undcr this�aragroph ~��__
<br /> � 7,LC►tder doCS n�t h:rvc ro dt�so.
<br /> , �• Any antounts disbursed by l,ender under this parugr.tph 7 .haU hecome additional debt of Burruwer securcd by tliis •,��:n�
<br /> Sccurity Instrumcnt. Unlcss Borcowcr and L�ndcr agrcc to otlicr tcrms ut pnyment, thcsc amounts shall bcar intcrest Goni the ',•,..,...�'`;ff�z
<br /> . . date of disburssment nt thc Natc ratc and shall bc puyablc, with intcrest, upon noticc from Lcndcr to Borrower rcquestinb • `,1,� ?''".� .4
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<br /> � S.Mort�a};e Insurunce.If L�:nder reyuireJ mortgagc insurance as a condition of making the loan�ecured by thes Security � ;�-•.
<br /> .. . , . � pittrument, Borrower shall pxy the premiums rcquircJ w maintxin thc mortgage insur,mce in effect. If, for any reasvn. the ,•
<br /> ` , � mortgage insur.mc�e cuverage reyuired by Lender lapses or ce:+ses to be in effect, Borrower shall pay die premiums required to �
<br /> ' obtain coverage subszantially cyuivalent to the murigage insurance previously in effect,at a rost suhstantially cyuivalent to the
<br />— � � cost to Borrowrr of thc mortgugc insuruncc prcviously in eff�ct, from an altcrnatc mortgagc insuecr approvcd hy l.endcr. If
<br /> subst�mtially equivalent mortgage insur.ince coverage is not a��ailablc,Barro�++er shall pay to Lender each m�nth a sum equal to I
<br /> '���•.•.,,� �� one-twelfth of the yearly mortgage insurance preiniwn bcing paid by Borrower when die insurance cover.�ge lapaecl or ceaseci to I
<br /> - ' �"'�' '� be in effcct.L.cndcr�vill accept, usc and ret,�in thcse payments as a los� reservc in licu of mortgagc insurance. Loss reserve
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