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<br />' �47�����6 I =--
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<br /> � . S. Hazard or Property Ic�ucaa�e. 8orrower sha11 keep the improvemems now ezisting or hereafter erected on die � �;
<br /> Property insured a�ainst loss by fire, hai.�rds inciuded within the term "extended rnverage" and any ather hazards,including �-
<br /> __ fln�ts ar tle�-ing,for�S�ich l.ertder r�quires insurance.This insnrance shall be maintained in the amounts and for We periods f�_.
<br /> • that Lender requirPS. The insuranc�tarr�er peavidir�g the insvrance shai! be chosen by Borrower subjett w Lender's approvai �
<br /> wnich shufl aat be unre�sottnbly cvithheld. li'8urro�vcr fails to maimain wverage described abeve. Lender may, at Lender's —°
<br /> , option,ot►tain wvem�e to protect LenGcr's rlgt►ts in the Property in accordance with paragraph 7. �;
<br /> All insurance policies und renetivals shall he uccepta'ble to i..ender and sball inc➢ude a standard mostgage clanss. I.ender
<br />' • shall have the right to hold the polirica and renewals. If Lcndcr requires,Borrawer shall pmmpdy give to Lender all receipu of ��
<br /> . paid premi�ms and renewal notices. In.thu etent uf tuss,Barrower shalt give prompt notice to the insurance carrier aad Lender. -_-
<br />'� ` Lender may make proof of lass if rtat nt�de promptly by Barraver. ___
<br />- Unless Lender atsd Borrowcr athenvisc ugrce in�v�ting.inswance proceeds�ftali be applied to restorarion or repair of the �;;::
<br /> . Psoperty damaged,if the restora4ion or repair is econamically feasible and F ender's�.uity is aot lesxened.If the restoration or �
<br /> repair is not economically feasible or L.ender's securily�vauld be lessened,tlze ins�-nc:proceeds shall be appIIed to the sus�
<br /> securcd by this Security Instrument. �vhcthcr or nat then due, with any excess pai:i :o�orrower. If Borrower abandons� "�;
<br /> � Praperty, or daes not answer within 30 days a natice from Lerr.ier that the insurance rarr�er ims offered to settte a rJaim, then ��_��
<br /> Lender may collect the insurance pr�cecds. I,crtder may use d�e proceeds to repair or restore the Properry ot ro pay sums • =-=-
<br /> � secured 6y this Security Instrument,whether or not then dae.The 3�day period will begin wher,the notice is o ven. �';�r
<br />� • Unle.cs Lender and Borrower otherwise agrez in writing, any applipuon of pmceeds to principal shall not extend aF� ='_
<br /> s ne the due date oi the monthl +ra hs 1 and 2 or chan e the amount of the a �'�'
<br /> po tpo y payments refeaed to iu parnb p g p yments. If —_-
<br /> _ under paragraph 21 the Prop;,rty is acquired by Lendcr,Borrower's right to a�r insurance po3icies and pmcerds resulang from i�;`;;.
<br /> damage to the Property prior to the acguisition sha11 pass to L.ender to the extent of the sums secured b�y dus Security Instrument �xs;:�
<br />. immediatefy prior to tfre acquisition. _ `
<br /> . 6.Oc�cupaacy,Preservation,Mnintenumce onal Protectdon of the Praperty;Borrower's I.�a�App�cation;Y.eageholds. =_
<br /> • Borrower shall occupy.establish.and use the Prnperty as Bormwer's principal residence within six2�days after the execution of 4==�:=
<br /> this Security Instrument and shall wntinue to or,cupy thc Prt�perty as Borrawer's prinaipal re�.dexee for at least one year after __-
<br /> ths date of occupancy, unless I.ender otherwise a�rees in writfns, which cemsent shall not be�nreasflnabiy withheld,or unless �'�F:<
<br /> ��,�._.
<br /> _., emenuating circumstances exist which ure beyond Borrowcr's control. Borrower shall not ��.stsay, damage or impair the '-'�°�'
<br /> Property. allow the Property to deteriorate, or commit �vastc on t{�c Property. Borrower shall ba in default if any forfeiture �s�?'
<br /> acdon or proceeding. whelher civil or criminal, is begun that in[.cnder's good f�ith judgment co��,-esult in forfeiture of the �,��
<br /> �.. -
<br /> Property or otherwise materially impair the tIen created by this 5ecurity Instrument or Lender's s�zrir-�interest.Borrower may =�
<br /> cure such a defauft and reinsWte.us providad in paragraph 18.by enusing the a�tion or procxeding+x,ba dismissed with a rnling �`
<br /> • that. in Lender's good faith determination, precludes forfeiturc of thc Borrowcr's iatcrest in the Properry or other material ��"
<br /> impaIrment of the lien created by this Security [nstrument or Le�sder'c security interest. Bornower shall also be in de�ault if '�x'"
<br /> � Borrower.during the loan applicatton pmccss,guve materially false or inaccurntc information or statements to Lender(or failed .;;:;�"'
<br /> to pmvide Lender with any material information)in connestion with the la:�n cvidcr�ccd hy the Note.inclnding,but not limited � a-`�=
<br /> to,representauons wnceening Bonovrer's occupancy of the Prop�rty us a principal rtsidence.If this Sscurity Insmiment is on 2 ��
<br /> " leaschold, Borrower shal� com i with all the rnvisions of �he Icase. IP Bor�ower a wres fee ti@e to the Pro '�'`�'
<br /> '::'.�: P Y P �9 � Pe�Y. the
<br /> � ie-�sshold and the fee title shall not mergc unless Lendcr ogrces to thc mcrgcr in writtng. • �� ��;�;
<br /> • 7.Prvtection oP I.end.r's Rights tn the Property.If Honawer fuils tn perform the covernnts and agr�:nts contained in ��-�•�=
<br /> — this Securiry Instrumeat.or there is a legal proceeding that may xignifia�atly nffcct l.endor's rights In the?Rroperty (such as a • � ��::,�
<br /> proceedir+�in bankruptcy.probate. for condemnation or forfeiturc or ro cnfarcc laws ur regulations). then Lender.�nay do and � �='v'�-=
<br /> pay for whataver ts necessary ro protect the vf►!ue of the Property and Lender'x rl�hts in thc Property, l.ender's actinns may �'
<br /> __ incladc a in an sums secvred b a lien which has riorit avcr this Secarit Instrument. a earin �n coart, payIng �.�
<br /> P Y 8 Y � Y P Y Y PP 8 �
<br /> reasonabfe attorrteys'fees and entering on the Property to a�ajcc rcpairR.AltOuugla l.cndcr may take action undet thi�paragraph �-. •
<br /> : 7.Lender does no1 have to do so.
<br /> Any amaunts disbarsed by Lender under this par�graph 7 shall becomc uddlttonal debt of•Bornawn�r secured by ttus —
<br />;i.�;,- Security Instrument. Unless fJorrower und LenGer agrec to ather tarn�s of paymeat.thesc nmonnts sh�1!bear interest from the -°�"-
<br /> date of dzsbursement at the Note rate and shall he a ablc. with intcrest. u n noticc Prom Lender to Borrower g "°""'
<br /> iV''�'.�'
<br />:,,�;s;- P Y � nquespn �c'�.��
<br /> ,.., � payment. ��.,;
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<br /> `�� '� 8.Mortgage dnsurance.If Lender requir,�d mortgage insurnnce as a condltian of making the loan secured by this Sscurity -- .
<br /> ��;;���a Instrumcnt, Borrower shall pay the premiums requlred to maintoin thc mortgngc insumncc in effect. If, for airy reas;.�. the �
<br /> �-.�°?� mortgage insurance coverage reguired by Lcnder lapses or ceases to be in effcct,Ilorrawcr shall pay thc.premiums reqa.z,�d to �--v
<br /> �. �• obtain coverage substantially equivalent to the mortgage insurance previnusly in effcct.ut n cost suhstantially eyuivalent ae t�e �
<br /> cost to Romnwcr of the mortgage insurance previously in effect. f'ront an ulteriWte aturigage insurcr approved by Ixndcu.If -'r-"��`-��-"�•`
<br /> � � _ substantially equivalent mortgage insurance cover�ge is not availabie.Borrower shal)�ay to Lendcr c:�ch month a sum eqt:�to • � �''lr+
<br /> " . , one-twelfth of the yeariy mortgage insuranoe premium being paid by Borrowcr whcn thc insucancc covcragc lapse�or ceased to �[`
<br /> , � be in effect.Lender will accept.use and retain these payments as o Ios� rescrvc in Iicu of mnrtgage insurance. Loss reserve
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