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<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />b. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in
<br />writing, which consent shall not he unreasonably withheld, or unless extenuating circumstances exist which are
<br />beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Properly; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property In deteriorate or commit waste on the Property. Whether or not
<br />Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing in value duo to its cunditiun. unless it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasible, Borrower shall promptly repair the Propery if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall he responsible for repairing or restoring the Propelry, only if Lender has
<br />released proceeds for such purposes- Lender may disburse proceeds for the repairs and restoration in a single
<br />payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds
<br />are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the
<br />completion ofsuch repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br />cause, Iconic, may inspect the interior ofthe improvements on the Property. Lender shall give Borrower notice at
<br />the time ,for prior to sack an interior inspection specifying such reasonable cause.
<br />R. Burrower'., Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Burrower ur any persons or entities acting at the direction of Borrower or with Borrower s knowledge or consent
<br />Love materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender
<br />with material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Borrower's occupancy ofthe Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)
<br />Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a Ieval
<br />proceeding that might significantly affect lenders interest in the Property and /or rights under this Security
<br />Instrument (such as a proceeding in bankruptcy, probate, four condemnation our (orfeiture, for enforcement of a lien
<br />which may attain priority over this Security Instrument or to enforce laws of regulations), or (c) Borrower has
<br />abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's
<br />interest in the Property and rights under this Security Instrument, including protecting and /or assessing the value of
<br />the Property, and securing uuUor repairing the Property. Leader's actions can include, but are not limited to: (a)
<br />paying any sums secured by a lien which has priority over this Security Instrument, (b) appearing in court, and (c)
<br />paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument,
<br />including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to,
<br />entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from
<br />pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off
<br />Although Leader may take action under this Section 9, Lender does not have to do so and is not under any duty or
<br />obligaion no do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this
<br />Scotus 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured
<br />by this Security Instrument. These amounts shall bear interest at the Note rate from the date of, isbursemem and
<br />shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease- If
<br />Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to
<br />the purger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the
<br />Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously
<br />provided sach insurance and Borrower was required to make separately designated payments toward the premiums
<br />for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to
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