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<br /> S. Hpzsrd or �•oricrty Insurancc. Rnrrowcr shall keep thc impruvemcnts now existing on c�icnftcr crected on thc "
<br /> Property insurcci ngalnst loss by �rc, hn�ards includcd wlthin tl;c tcrm "extended caverngc"nnd nny oth�r hnznrds. including
<br /> floodn ar flaoding, fbr which Lender rr.qulres ins�uimca Th�s insueimcc shnll be muintnincci in thc amounts and for the pertocls
<br /> tftai I.ender requires. Tlie insurunte ca��rier providing the insurnnce sliall be cliasen by 43orrower subjcct to Lender's�pprovrl
<br /> wi�ich shnll not be unreasonably withheld. !f 8orrower t�ils to mninta�n coverage descr�bc:ci abovc. l.endcr may, nt i,cnders
<br /> option,obtai�cnverage to proteet €.ender's rigNts in the Yrnperty in accordnnce with pnragraph 7. _
<br /> All insurnnce palicies and renewuls shaU be acceptabte to Lender and shall include a standard mortgage clause. unaer -
<br /> shall bave the right[o hold thc policics and renewals.If Lender reyuires,Borrower shall pramptly givc to Lender all receipu of
<br /> paid premiums und renewal notices.In the event of loss,Horro�ver shall give prompt natice to the insurunce carrier and L.ender.
<br /> I.ender may make proof af loss if not made promptly by Bormwer.
<br /> ilnlcss Lendcr and Borrower otherwise agrce in�vriting, insurance proceecls shall be applied to restoi�ation or repair of the
<br /> Praperty dama�ed,If the restoration or repair is cconomicully feasible and Lendcr's security is nat lessened. If the restoration or
<br /> repair is not economlcally feasible or Lender's security�vould be lessened,the insurance praceeds sh�ll be�pplied io the sums
<br /> secured by this Security Inst�liment, whether ar not then due, with any excess paid to Borrower. If Borrower ubartdans the
<br /> Property, or does not ans�ver within 30 days a notice from I.ender that the insurance carrier has offered to settle a claim, then
<br /> I.,ender may collect the insarance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Securlty Instrument,whether or not then due.The 30•day peti•iod will besin whcn the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writin�G, any application of proceeds to principal shnll not extend or
<br /> postponc thc duc datc of tl�c monthly paymcnts rcferrc�to in paragraphs 1 and 2 or change the amount of the paymcnt�. If
<br /> undcr puragraph 21 thc Property i5 acquired by l.cndcr, Borrowcr's riglu to any insuranco�Ilcics und praccr,ds resulting from
<br /> dnmagc to thc Pmperty prior to thc ncquisiNnn shnll pnss ta i.cndcr to thc cxtcnt of thc sunts nccurcd by Qiis Sccurity Insm�mcnt
<br /> inunedintcly prior to�hc ucyulxhlon.
<br /> 6.(kcupatcy,Nreservwtlon, M1twlntcnw�KC w��d Nrytectt�an at thc f�����crty= Ii�►rrawcr'x I.�►wn Appllcation;I.ewsehold9.
<br /> 13orrawer shcdl�►ccupy,c�+tnbllyh,++nd use d�e I�rnper�y«�I3orruwer'�;princlpiil residenc�wlthhi sixty duys nftcr tl�e execudon of
<br /> thls Sccurlty lntitrumcnt und c;huU continuc t��accupy ll�c Prnperty ne 13orrowcr'x principal rcyidcncc for lit Icast ot�c ycAr nRcr
<br /> the clute nf ixcupancy, unicss Lsndcr�tlurwise ugrccs la writing, whlch cnnsent�;h�ll not bc unrcasnnnbly wlthhcld, or unless
<br /> extenuuting ctrcum�t�inces cxie,t wldcl� nre beyond Uan�wer's c�mtrul. Bnrrawer shull not destray, damage or impair the
<br /> Prc�perty, ullow thc Property tc�deteriorute, ur commit wnstc on the Pro�eny. 0orrowcr shnll bc in dePault if any forfeiture
<br /> actian or pracerJing, whether civil or criniinal, is begun that in Lender's good faith judgment could result in farfeiture of the
<br /> ptc�rs,c:�:t:en:�le�mst�r4»!I;ti:�psir t4ie!f�n:rra!�!�;t423s�ssi;Ins:ramc.�t c:i rr.�er's��^arit;fr.trr��t. B�rr�::��r ms;
<br /> curs such a defnuit and reinstate,as provided in paragraph l8, by causing the action or proceeding to be dismissed with a rulin�
<br /> that, in I.ender'� good faith determination, precludes forfeiture of the Bonower's interest in the Property or other material
<br /> impairment of the lien created by this Security Instrument or Lender's security interest. Bonower shnll alsn be ip defuult if
<br /> Borrower,duting the loan application process.gave mateTially false or innccurate information or stntements to L.ender(or failed
<br /> to ptovlde Lender witti�any material information)in co�mection with the loan evidenced by the Note. including. but not limited
<br />' to,representations conceming Borrower's occupancy of the Pc�operty us a principal residence.If this Security Instrument is on a
<br /> leasehold, Bonower shalt comply with all the provisions af the lease. If Borrowcr acquires fce title to thc Praperty, the _
<br /> lcasehold nnd the fee tiHe shall not mcrge unless Lender lgrees to the n3erger in writing.
<br /> 7.P�ro¢ectfon of Lender's Rlghts ip the 1'ruNerty.If Horrower fails to perform the covenants and agreements contained in
<br /> this Security Instrument, or there is a legal pmceeding that may significently affect Lender's rights in the Property (such ss a
<br /> proc:eedin�in banktuptcy,probsite.for condemnation or forfeiture or to enforce laws or r�gulstions), then Lender may do und
<br /> � pay for whatever is neccssury ta protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> includc paying any sums sccurcd by a Ilcn which lias priority over this Security Instcumcnt, appearing in court, paying -
<br /> reasonable nttomeys' fces and cnterin�on thc Property to makc repnirs. Although Lcndcr may take action under this pivagc�aph
<br /> 7,L.cndcr does not have to do so.
<br /> Any nmounts disb�rsed by Lender under this paragraph 7 shall bec�me additional debt of Bonower secured by thls
<br /> ' Se.curity Tnstrument. Unless Borrower and Lender agree to other terms of payment,these cunounts shall beur interest from the
<br /> � dute of disbursement at the Note rate and shall be paynblc, with interest, upon noticc from l.ender to Horrower requesting
<br /> payment.
<br /> 8.l�tortgage Insurance.If L.ender required mo�Kgage insurance as a condition of making tha loan sccurcd by this Security
<br /> Instntment, Borrower shnll pay the premiums required to maintain the mortgage insurance in cffe�:t. If, for any rcuson, the
<br /> mortgage insurancc coverage required by Lcnder lapses or ccases to be in effect, Bonower shall pay tlie premiums required to
<br /> obtain coverage substnntiully equivnlent to tlte mortgage insurance previously in effect, at a cost substantially equivalent to the
<br /> cost to Horrower of the mortgnge insurance previously in effect, from nn altemute mongage insurer approved by Lender. If
<br /> , substantially cquivalent mortgagc insuranc,�:coverage is not available,Borrower shall pay to I.ender each month a sum equal to
<br /> . onc-t�vclRh of tite ycarly mortgage insurancc premium bein�;puid by Borro�vcr when thc insurancc covcmge lnpsed or ceused to
<br /> be in effect. Lender wiU accept,use nnd retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3020 9/@0
<br /> Papo 3 of 0
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