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<br /> S. IlwaWr� or Pru►�,.rty It�:urwice. Bc�rm�.r zhull ke.p thr in�►nz�•cmen�s raw• cxistin� ur hereaf�er erccttd on the
<br />' Yru�xity ii�.�urcJ uyaiiva iur.,by Eirt. tuu;ud. iikludcxi withiu Uw terni "e�te�kie.�i c��vtragc" and any other hai;u�s, inelu:ling
<br /> tic�xl.ur floodinE, fur u�hi.h l.c:xlcr reyuires insuruke.This inwrancc stull M n�ai�iuined in�he;una�nts atxi fc�r the periods
<br /> th:it I.c�ukr rcyuirc.. 7'tK inwraiuF carrirr p�u�iding the i�uur.uuc �Full tk chi�xn by E3��rruwrr wbjcct ta Lctulcr's a{�prm•al
<br /> u;�ic•N .h,,lt ixu lk unt��iw��„t�ly wit�„wt,;. If w�rrou�r f3il� to m:6ntain cr:�er»�e tlescrihcti ah:�vc, l.ct�i�r nuy. at Lc�r's
<br /> c�tion,c�htain cn��cr�gc to pmt�xt Icixlcr'�ri�•htc in ttk Pru��rty in:titit�nla�x�e with}�aragraph�.
<br /> All inwr�nce policies and reneu��ls �hzll bo x��pWble to Leruier:uul stull incluae•r a�a�x�rd nwrtF�ge �1•rusc. [.ender
<br /> �hall Iwve the right to tuild thu p�licics and renewals. lf L.ender reyuices,l3urrower shall ptompdy gice to Lecuier:ill receipts of
<br /> paiJ premiume and renewaf iunires.in the event of lo��,Borrou•er sh:►ll�ive prompt noti�e to the incururue currier and Lertider.
<br /> Lender utizy mal.e proof of tors il'not made pramptly hy Bonoa•er.
<br /> Untess Lcrufcs and Bunou�er otherwise agree in writing, insurance proceeds shall be applied to restoratian or repair of the
<br /> Propcny dan�agcd, if thc rcuoration or repair is econonucally feasible and l.ender's security is not lessened.If the rastoration or
<br /> repair is not economically feasiblc� or[.ender's�ecurity w•outd tx:lecsened, the incurance prcweeds shall be applied to the sums
<br /> secured by this Security In,ctrument,whWhcr or not then duc, w•ith any excess paid to Borrower. lf Borrower abandas the
<br /> Property,or does cwt cuuv�•er within 30 days a natice from Lender that the ituur,uue cartier hzs offeml to setde a claim, ch:.�
<br /> Lendec may collect the insur�nc� pn�:c�eds. l.ender may use the Fraceeds co a�.:ir or restore the Property or to �a} sum�
<br /> secuced by chis Security iit�[ivment,wh�t.`xr or not thendue. The 3+�w�p�:n�w:ll begin w•hen the notice ic gi�:n.
<br /> L'nl:ss Lender an� Burmwer eth:n�flse agrce in writing, an� ;�*�+]i;ation es �mceeds t� grinci�! cha11 ix�t ert�nd or
<br /> �st�►ont e���ue daic of tf�c►ttu�ithl�� y�.•me.tis ref� to iw�:��h.� � an.j : ��:c'ar�;.�h: amounl of thc pa}��nts.If
<br /> under par,�raph 21 the P�Y,�perty is acc�::ai by Lei«fLC.6.�m�wer's ri.ght to am ansuran�r po:ici:� and pm.titi�ds resuiting from
<br /> damage to tlie Property prior ur thc a��u:�ition shall pass to Lczhier ta the exient of the sun�s s�ured by this Security Instrument
<br /> immediate3�•prior to th�act�uiaition.
<br /> 6.Occupancy. Presen•atecwt�, 1lfsinterwnce and Prot�ctian oE'the Property:BorroKer's Loan Applicaitlon;I.easeholds.
<br /> Borrower shall occupy,establish, ar�d use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security In.�trument and shali continue to oceupy the Pcoperty as Borrowrr's principal residence for at Ieast one year afltr
<br /> the date of occupancy,unlou Lender otherwise agreec in writing, which consrnt shal!not be unreasonably withheld, ar unkss
<br /> exte�wating circwi�..t�nces cxi�t which are beyond Bom�wer's c�ntrol. Banou•e� �hall ncu dect�oy, d�nage ar impair the
<br /> Prapeny, allow the Proparty to detcrioratc. oe canunit waste rni the Propeny. Borrawer shall b� in default if any forfciturc
<br /> ucticu�or pruceedin8, wlx:thar civil or criminal,is begun that in l.eneier's ge�ocf faith judgment cusild rc.wlt in farfeiture of the
<br /> Property ar cuherwise materi�lly impair the lien creatod by this Security Instrument ar Lendcr's sorurity inttrest. Borrou•er may
<br /> cure surh a default u�x1 rein.titate,as pravided in paragraph 16, by causing the action or proceeding to be dismissed with�ruling
<br /> that, in Lender'�good faith detennlnation, precludes forfeiture of the Borrouer's inter�.ct in the Property or other maurial
<br /> impairmcnt of thc lien created by this Security lnurumenl or Ixnder's se:urity interest. &..:ower shall also be in default if
<br /> Bo►rower,during the loan application process,gave rr�aterizlly false or inaccurate inforniation or siatements to Lender(or failexi
<br /> to provide L.ender with any material inforniation)in canr�ection with the loan eviden�:ed by the Noie.including,but not limited
<br /> to,rcpre.untations cronaming 8orrower's oaupancy of the Propeny as a principal residence. If this Socuriry Instrument is on a
<br /> le�se}wld, 8orrower sfwli rnmply with all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> leaseholcl and the fee tide sfw]!not mer�e unless Lender agrees to the rnerger in w riting. �
<br /> 7.Protection of Let�der's Rights ia the Prupaty.If Borrow-er fails to perform the cuven�nts and agreements mntsin�od in
<br /> this Security Instrunxnt, ar there is a legal prooeeding that may significantly affect Lender's righu in the Property (such as a
<br /> proceeding in bankzuptcy, probate,for conde�nn3tiocn or forfeimre or to enforce laws or regulations),then Lender may do and
<br /> pay for whatever is nece.csa�y to protect the value of the Propem,:and Lender's rights in the Praperty. Lender's actioas may
<br /> include paying any sums secured bv s tien which hac priarih� o�•er this Seeurity insuumeat, Appearing in eourt. �aying
<br /> rr,asonaWe attomeys'fees and entering a,the Property to maice r�,s.Although[x.�r ma3 take action under this paz-ag�h
<br /> 7.La�der daes not have to do so.
<br /> My anwants disbwsed by Lender under this paragraph ? st�.all t�ecomz additional debt of Borrower secured by this
<br /> Securiry Instnunent. Unless Borrower and Lender agree to othet t�:,,-�ns of payment, these�nwunts sFnll be:ur inttrest froa�tl�ee
<br /> date of disbtusemeru at tha Note r,u� sud st�ll be payable, KitPe a.nterest. upon notice from l.ender to Borrower req�ng
<br /> PaYment.
<br /> 8.1liorfgage I�uraace.If L.ender required mortgage insnranoe as a candStion of making the loan secured by this Security
<br /> Instrumen:. Borrower shull pay the premiums required to maintain thx mortgage insuranoe in effect. If, for any re�son, the
<br /> mortgage ins�rance covera�e requircd by Lender lapses or ceases to be in effect. Bortower shall pay the premiums required to
<br /> obtain cover,�e substantialty equivalent to the mortgage inwrance previously in effect,at a cost substantially equivaknt to tha
<br /> ' cost to Boorawer of tho mortgage incurance previauly in effect, from an altemate mortgage insurer approved by I.erx�r.If
<br /> substantiaUy equivaleni mortgage insurance ooverage is not available. Borrower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borruwer when the incurdnce co�•erage lapsed or ceaced to
<br /> be in effect. Lender will aoctpt,use and retain these payn�us as a loss reserve in litu of mortgage insurance. Loss reserve
<br /> ` Fcrm 30Z8 8lSo
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