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<br /> _� 4.�"ire, Ffo�an�OlEc�r Ha�d�rsuran�ts:.Borrawer shall insure all iuiprove�ments on the Praperty. wheth�aoiv in • _
<br /> ' existence or sui�sequently erected.agais�sc any hazasds,casuslties,and contingencies, inclnding fire. for which Lender rcquires _
<br /> insurance. This insuraiue shall 6e maintairzed in the amounts a.-u1 for the periods that Lender requires. Borro�vcr shall also ;-
<br /> — iasure sil impraccm�nts an ti�Fro��ty.�v6ether�ow in existence or subsequently erected.againsc tocs by floads to the extent —
<br /> �
<br /> ' ra{uired by the Secretary.A!! insuranex sha11 be canied wiih companies approved by Lender. The insnrance poficies and any f
<br /> renewals shall ts�hetd by l.ender and sliall inciude lass payabta cl�uses yn favor of.and in a faan accee�table to.Lxnder. �;
<br />•<.F;;� In the event of loss,�orroKer shall give Lender immediate notice by mail. Ixnder may �e proaf of loss if not made
<br />�;� prompdy by Bolsower. F.acA insurdnce company concemed is hereby sutharized and directed ta make payment for sueh loss _
<br />-'-', dic►:ctiy tn Lender.usst,�sd o€ta 8orrc3;ver and ta Lender jointlp. A11 or any pan of the insurn�Ke gmceeds cn3y be applied by
<br /> . l�nd�r,ai its optian,either(a)to the reduction of ths indebtedness under the Noto and ttus Securiry instnunent,first to any
<br /> detinquent�nounts applied irz the arder in paragraph 3,and then to prepay�nent of prin.i,�al,or(b)to the restoration or repair �
<br /> ,�,�;;� of the damageA Property. Aay applica�ion o#the proceeds to the principal shall not extead or pastpone the due date of the
<br /> � manttily payments wluch are refemed to in p��rgca�4i 2,or change the amount of such paymen:s.My excess iruurance praoeeds =
<br /> . over an amount reyui.ed ta pay all oaLStanding andab�ne�s under the Note and this Security Incuument shall be paid w thx o_
<br /> ' entity legaily entided thereto.
<br /> � In the evem of foreclosuie of this S�:y lnstrument or othar ttansfer of titie to the Pro�7r th2t extinguishes�
<br />'�,�': indebiedness,alt right,tide and interest of Barrower in and ta insuran�po�icies in force shall pass ta�hs putchaser-
<br /> 5. Oo�paacy, Pne�patiaa, Maintenaacce an� Prot�tion of the Pr�y�ty; Bereowei's Laaa .�pplicatlon;� _
<br /> `� . L��*nide. Borrawer sf�all uavpy. establish.and use cTme�roperty as Borrower's ptincipal residettce within s�x'�r days afier
<br /> .;' .
<br />:��:r�.,. the execution of this 5ecurity Insn'ument aad s3a11 comin�to occupy tHe Property as Bomawer's principal cesidencce for at tpst
<br />. fi' one ycar after the date of occupaacy,unt�t�i���re�5'detennines tias requirement will cause nndue hardship for Borrower,.
<br /> :';f�,� �_
<br /> oi,;.imless exteauating circumstances exist wtricL ara heyand Bornower's control. Boirower shall notify l..ender of any
<br /> e�%tt�tuaring circumstances.Br�rrower sAall not commit vxx�ca or desuay,damage or substanrialiy chan�e the Ptoptnty or allo�v
<br /> � ''�•`, the Pmperty to deteriorate, reasonable wear and tear er:e�led. Lender may inspsM the Property if the Peop�tyt�S vacant or
<br /> °.� �` � aba�ioned or the loao is in default. I�euder may take reasanab4e ac�iim to protect and preserve suel� vacant or aL�audo�'t. _
<br /> pcopeny.Boaawer shall also be in default� ef Borrower.during Ehe tc��sppliption pracess,gave ma�rialIgr false or en�e;��� '
<br /> . information or. arPm�nu co Lender(or fa"s2ed to prov[de Leuder wi�a im�y material information)in conne�iam vFith the T4it�,"... . -
<br /> ;:;':i;� evidenoed by the Note, inclattiag, but not limited to, representasions•�tning �rrower's oacapancy of dte�tt+iserty as�a•�` '. ' �--
<br /> principal residence. If this Se�rity Insuument is on a teasehold. Ba.-er,wee s6a11�mpty with the provisions%�f tt�e lease. Y1F
<br /> .•:�,:;;; Borrrnver acquires fee ti�le to the Property.the leasehatd and fee utle s,�a�not be merged nntess Lender agrees to tfie r�r,ger���:.•. •
<br /> .,.. writing. •
<br /> ;in4 . . . >; _
<br /> •;•.``� ' 6,Chnrges to Bor�oweF and Proteci�os�of Lend�'s Ri ts in the Prro Bunower shali alI nunental�os � -_
<br /> '::.:r�`�;,. S& P�'• PdY �'i!�� —
<br /> :�}t c�nipxeipal charges. fines and ampasit�ons tHaz are not ui�Iuded in paragraph 2. BarroNer shall pay these o6lig�tians an tune
<br /> �.;`��`{�f� ` . ctiXcctl to the en6 which is owe�d the a pay ntd adversety affect I�endes's interest in the Property.upon
<br />:`.•;4;,,,s.;; 9 tY P Y��.Yf faitn�to wo -
<br /> �r.,;• Ler.d�i s req��t�onower shal!promptly fumish to Lender receipu evidencing these pzymenis. .
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<br /> If Boaower fails to make th�e payments or the payments ceqnired by parag�apf�2,or fails w perform any other covensnts
<br /> '.`� and agr�nis contained ia this Security Instrumen�or there is a tegal ptoceeding tf�usay significandy affect Lender's rig#its
<br /> -;;.,�,. in ths Property(such as a proceeding is�bankruptcy.for oondemnauon or to enforae taws or ngula6ons).r�hen•Lee�de�may do . _
<br /> :::,''`;1�� and pay whatever is necessary to prota;t the value of th�Property and Lender's rights in the Fcoperty.incl�tding payment of —
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<br /> }fi,��;: taxes.ha�.1M insnrance and ather items memioned in paragraph 2. . -
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<br /> •��:.;:;F;' , '.':' My amounts dis6araai;ls�.�.eader under this Pa►"�.'�'�b sha!!become an addit�an�l.debt af 8orrower and�R seasred by
<br /> '.���s;..:, .
<br /> ;sj' this Saurity lnstrument.These amotEnts s�ha!!bear inierest from the date of disbnrsc�ut..at the Note rate,sec!at the option of
<br /> "`:���.` l.endev.shall be ammediately due and payai:i}�� _ • .
<br /> : 7.Ca�ndemnation. The pmceeds of'any award or claim for.�uo�uges. direct ut:��inaeguential, in oanna4ion with znyr
<br /> � � c�ondemnarian or oiher taking of any p�art of th�i'coperty.or far oo�9�aQOe in plac��Curidemnarion,are hereby assign�'1 and '
<br /> �.� ' shall be paid to I.ender to the extent of the fuli amoun4 0�the indebt�ss that remi�ts unpaid under th�x Notc and this Security
<br /> _ . Insuvment.Leader shall apply sach proaa�t�ao the red►tcri�n of the in�ehtedaess under the Not�;und this Seeurity Instnunertt,
<br /> ` fuss.to any detinyuent amounts applied �the order pmvided in parugraph 3, and then to r��;ayment of principaf. An;+ _
<br /> :: :,;' � :;��fiqtian of the proceeds to the principal shall not extend or postpoae the dae date of t1�.�'�nthlY P�•�'���
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