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<br />200710429
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<br />6, Occupancy, Borrower shall occupy, establish, and use the Property us Borrower's principal residence
<br />within 60 days alter the execution of this Security Instrument and shall continue to occupy the Property
<br />as Borrower's principal residence tor at least one year atter the date of occupancy, unless Lender
<br />otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
<br />circumstances exist which are beyond Borrower's control.
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<br />7. Preservation, Maintenance and Protection of the ('>roperty; Inspections, Borrower shall not
<br />destroy, damage or impair the Propelty, allow the Property to deteriorate or commit waste on the
<br />Property. Whether or not Borrower is resjding in the Property, Borrower shall maintain the Property in
<br />order to prevent the Propel1y from deteriorating or decreasing in value due to its condition. Unless it is
<br />determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
<br />promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br />condemnation proceeds arc paid in connection with damage to, or the taking oC the Property, Borrower
<br />shall be responsible for repairing or restoring the Propel1y only if Lender has released proceeds for
<br />such purposes. Lender may disburse proceeds for the repairs and. restoration in a single payment or in a
<br />sl.:ries of progress payments as the work is completed. If the insurance (Jr condeml1ation proceeds are
<br />not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for
<br />the completion of such repair or restoration.
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<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
<br />reasonable calise, Lender may inspect the interior of the improvements on the Property. Lender shall
<br />give Borrower llotice at the time of or prior to such an interior inspection specifying such reasonable
<br />cause.
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<br />8, Borrower's Loan Application, Borrower shall be in delault if, during the Loan application process,
<br />Borrower or any persons or entities acting m the direction of Borrower or with BOlTower's knowledge.
<br />or consent gave materially lalse, misleading, or inaccurate information or statements to Lender (or
<br />failed to provide Lender with material information) in connection with the Loan. Material
<br />representations include, but are nOllimited to, representations concerning Borrower's occupancy orthe
<br />Property as Borrower's principal residence.
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<br />9, Protection of Lender's Interest ill the Property and Rights Under this Security Instrument. I((a)
<br />Borrower fails to perform the covenants and agreements contained in this Security Instrulnent, (b) there
<br />is a legal proceedingthat might significantly affect Lender's interest in the Property and/or rights under
<br />this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or fbrfeiture,
<br />(or enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
<br />regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
<br />reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
<br />Instrument, including protecting and/or assessing the value of the Property, and securing and/or
<br />repairing the Property. Lender's actions can include, but urenot limited t(l: (a) paying llny sums
<br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c)
<br />paying reasonable attorneys'lees to protect its interest in the Property and/or rights under this Security
<br />Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes,
<br />but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and
<br />windows, drain water from pipes, eliminate building or other code violations or dangerous conditions,
<br />a'1d have utilities turned on or off. Although Lender may take action under this Section 9, (,ender does
<br />not have to do so and is not under any duty or obligation to do [so. It is agreed that Lender incurs no
<br />liability fix not taking any or all actions authorized underthis Section 9.
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<br />Any amounts disbursed by Lender under this Section 9 shnl! become additional debt of BorrO\ver
<br />secured by this Security Instrument. These amounts shall bear interest at the Note rate ('rom the date 0('
<br />disbursement and shall be payable, with such interest, upon notice from Lender to BOIHJ\ver requesting
<br />pnynlent.
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<br />If this Security Instrument is on a leasehold, 13OlTower shall comply with all the provisions of the lease.
<br />If BOlTower acquires fee title to the Property, the leasehold and the fee title shall not merge unless
<br />Lender agrees to the merger in writing.
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<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 lhe Mortgage Insurance in elIeet. If, for any
<br />reason, the M0l1gage Insurance coverage required by Lender ceases to be available from the mortgage
<br />insurer that previously provided such insurance and Borrower was required to make separately
<br />designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
<br />required to obtain coverage substantially equivalent to the Mongage Insllrance previously in effect, at a
<br />cost substantially equivalent to the cost to Borrower of the M0l1gage Insunmce previously in effect,
<br />li.om an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance
<br />coverage is not available, Borrower shall continue to pay to Lender the amount of the separately
<br />designated payments that were due when the insurance coverage ceased to be in encct. Lender will
<br />accept. lIse and retain these pa)'lllents us a non-refundable loss reserve in lieu of M0l1gage Insurance.
<br />Such loss reserve shall be non.refundable, notwithstanding the fact that the Loan is ultimately paid in
<br />full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve.
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