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<br /> 5. E�azerd or Property Insn�iut�• Borrower sha!i keep the irttprovernents now+ eaisting or hereafter erected on the • .�
<br /> Property insnred against loss by fire, ha�ards inciuded within the term "eztended covera�e" and any oiher hazards, incQuding � �,=
<br /> itoads ox flooding, for which Lender requires insurance.'[7ti�insurance shall be maintayned in the amounu and for the peaiods ,,, .
<br /> that Lendet mrquires.The insurance carrier providin� the insutance shaU be chosen by Borro�ver subject to Lender's approvaf .�:�:�.
<br /> whicfi �hall nat be unrea�onably evithhcld. lf Horrowcr fails tc�maintain coverage described abo�e. Lender may, at Lender's -
<br /> o�tion.obtain coverage to pratect Lender's righu in the Property in accordance with paragraph 7. -
<br />—� All insurana: policies and renewals shall be acceptable to Ler�der anii shall include a star►dard mortgage clause. Lend�r
<br /> s6ali i�ve thc righE io fiot�f the polities and rencwais.if Lender reqe':res,Borrawer sha11 pmmptly give to Lendcr all receipu of �_:
<br /> paid prtmiums and renewal notices.In the event of loss.Eorrower shall give prompt notice to the i�surence carrier and Lender. `��,�
<br /> [xnder may make proof of loss if not made prompdy by Borravrer. �''���"
<br /> Unless lxnsler and Borrower atherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the
<br />-f Property damaged.if the restoration ar repair is econanrically ftas��le actd Lersd�r's security is not lessened.IF the restoration ar '�-�_
<br /> repair is not economically feasible or Lender's security woutd he lessened, the insurance proceeds shall b:applietl to the sums ��='�--
<br /> sscured by this Sec�rity Instrnment, wheWer or not then dae, with any eacess paid to Borrower. If Ba*rower abandons the
<br /> Property.or does not answer within 30 days a notice from Lender thai the insurance c�rrier has offered to settle a ctaim,then
<br /> Lender may collect the insurance proceeds. Lettder may use the praceeds to r+epair or res�ore the Property or to pay sums �s�;.
<br /> secvred by this Security Ittstrumenc.whether or not then due.The 30-day period will begia when the notice is given. =--_
<br /> Uniess Lertder and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or �x;�:,`
<br /> postpone the due clate of the rt�ontlily payments referred to in paiagraphs 1 and 2 or chartge the amount of the paym°uu. If __
<br /> nnder�..^sgraph 21 the Property is acquired by Lender, Borro�ver's right to any insuraace policies and proceeds resulting from �--.
<br /> damage�t+the Property prior to the acquisition shnll pass to Lender to the extent of the sums secured by t6is Security instrumem �` • -
<br /> immec�iateiy prior to the acquisition. . �
<br /> .':��: 6.Oocnpattcy,�eservation,Malnteaauce s�d]Prot�tton of tlre Property:Sorrower's I.oan Apgltcat�o�Leaseholds. :=,n
<br /> �� Batso•�er shs!!ottupy.esiablish.an�t�ss tlte Property as Bomnwer'c nrincipal residence within sixry days after the execut�on of �'
<br /> :�'. this Security Inswznent and shcill oe.�tinue to occupy the Property as Borrower's principal residenoe for at least one year after �`
<br /> �.! tite date of ocxupancy.unless Lender otherwise agrzcs in writing,which consent shall uot be utueasonabty withheld.or unless
<br /> extenuating circamstances exist which are beyond B�a�uwer's control. Homower shall not desuoy. damage ot impair the ��
<br /> . property� allow the Property to deteriorate, or commit�raste on the Property. Borrower shall be in default if any forfeiture :_
<br /> . action or proceeding,whether civil or criminaf.is begun that iv Lender's good faith jadgment could result in forfeitim of the '—==__
<br /> ProperC�v.-R otherwise materially ia;�air the lien createrl by t�rs S�curity Instrument or Ler�dtr's serurity interest.Borrotiver may rs:r��==-=
<br /> > ciue s�.�a defautt and reinstate,�,�ovided in paragraph 1.8.�i}•causing the acrion or pmceeding to be dismissed with a niling �s�
<br /> that� en,Lender's bca¢faith detesmi�tion. �uJes forfeiture of the Borrower's interest in the Property or otlter tnaterial
<br /> �:;..-
<br /> '<<; � impairment of the �i��created by this Secur'r.-� ��tcument or Lender's security interest. Borrower sh311 also be in default if
<br /> Borrower,during th�ioan application process.gave materialty false or inaccurate information or statemenu to Lender(or failed .�,.
<br /> ' to provide Lender with any material information)in connection with the toan evidertced by�Note,includiag.but not lisnited f _
<br /> � to.reptesentations coaceming Borrower's occupancy of the Prop�rty as a principal residen�If this Security Instrument is on a c__�
<br /> lea3ehold. Borro�ver shall comply with all the provisians of the lease. if Borrower acquires fee tide ta the Property. the
<br /> � °� tea.,�ehold and the fee ade shall not merge unless Lender agree:+to the merger in writing.
<br /> •i: 7.FMtection of I.ender's Rights in the Property.If Borrower fails to perform the covenants ar.�,�sa�ments wntained in
<br /> this Security Insmimen�or there is a legal prooeQding that may significandy nffect Lender's rights in ehe Properry(such as a
<br /> � procee�:�:.$in banlcnrptcy,probate, for candemnation or forfeiture or to enforce laws or regulauons).then Ixnder may do and ��
<br /> pay fcr.,•�w�:ataver is necessary to�ateet the value of the Propercy and Lender's rights in the Property. Lender's acrions may �,,
<br /> ..:� incimd:��aa3'ina aar_c ,r�,.�:s secaz-� by a Gea ��ti�:h has priority over this Security Instrumera. ap�ting in oourt, PaYinB
<br /> f ��`` reasor.a i:�;�ttomeJ:;':�r�and�f.crgg on t,`,��raptrty to make repairs.A�4b�Lgh Lender may take action under this ParagraPh �-,
<br /> • ?.L�cdc+t�oes not have eo do sra�.. !. ,..
<br /> H.�y amounts disbursect !ry;•�a:r,i.er under this paragraph 7 chall becone adC;,���air:.debt of Borrower secur� by tivs �,
<br /> Security Instwnent. Unless Bcc�'a�trcr and Lender agree to other terms of paycraer.R.tte�e amounts shall bear interest from the ;
<br /> date of disbursement at the Note ra�e and shall be payable. with interest. cqc, noti::e from I.ender to Borrower requesting �
<br /> paYment. --`
<br /> • 8.Mort�g�Ysa'c�nce.lf f;,.�der required mortgage insurance as a condition o` tt��i�ng the loan secared by this Security
<br /> lnswce.ent. Borrower shall pay dre premiums required to maintain the mortgage ir-.�::cuaxe in effect. If. for any r�s.s�n. the -- _
<br /> � mortg�;e insurance wverage required by Lender lapses or ceases to 6e in effect.Borro�er shall pay the premiums c�aired to �� .':
<br /> ' .,k�. obtain coverage sabsG:ndally eyuiva�ent to the mortgage insurance previo��� 9n effect,at a cost suhstantially equivalent to the E;
<br /> � -�,�. wst to Borrower oL d�r_mortgage insurance previously in effect, from zn .tit�rrnate mortgage insurer approved by Lender. If
<br /> substaniially equiva�e;c;ttortga�e i,lsurance coverage is not available.Borrro�;�shall�a�to Lender each month a sum equal to _�,
<br /> � one-tw��fzh of the yearYy mort�3�s:i��surance premium being paid by Bonower when dsc:ia�HUance coverage lapsed or ceased to -_�_
<br /> • i ' be ia eif��cc.I.ender will acc�e�t,u:a�:end reta:n these payments as a loss reser.s.e::s I:�z ��f mortgage insurance. Loss resen�e !=h•�'-'=
<br /> �., ;,j w�ao2a siso =�- -
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