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<br /> � S. Mctzard or Pra�ly la�asr:�nse. flurru�cer Shall keep thc impruve�ttent. m» exi.t�ng `� �
<br /> Piop�rty II15UR� 3Fatlt�t lo�+by fin. h:u:uda included wittein the term "extendctii cuvcragc" :uid :+ny� �,ther it:�rd�. inrluding . � '- 1. ; T
<br /> ' t laud+ar tloodin€. for�vhich Leuder rcyuire�insurancc. �lhis m,u�ncc+naii bt niaint�:rnYl�s: the s:nuur.���!r!+i b�r�he�xre�uf. _ ':_x::�_�._
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<br /> that L.ender rcquirch. The in�ursnce�:arrier pnn•�din� the ia.urance �hall be cho�en b� Barru��er +ubjr.t tu L�nd�r',appruval ;,,;:
<br /> �rhich shall n�t be unrea.+onabl}� Hithhrid. If Barrower faii�to maintain a��erage de��nbed at���e. l.�nder ma�. at Lcnder's ` . „ ,' '�Sr�
<br /> , option,ubtain cocerage to protect l.ender'.right+in the Proisert) in ariut�nre with par�graph 7. � '___1_-
<br /> All i�surance policie� and renewal.,hall br ac�eptable to lxnder and .h:�ll �nrlude a.t:�nd:srd m:lrtgagr rlau�r. L.ender , .f: ' .
<br /> �ha{t harc the ri g ht to tu�ld[hc policie�:�nd renewals. If Lemier reyuire5.Burrowcr.h:sll prumptl} g�vr[u Lcnder all rcrcipt.of .�
<br /> paid premiums and renewal ni�tire+.In the event of loas.Borro«•er shall give pmmpt nutire tu the in.ur.�ncr camer and Lender. _ ��:,.t
<br /> Lender may[nalce proof of luss if net made promptly by norruwer. � � _
<br /> Unless Lender and B��rrower otherwise agree in writing, in�urance pruceetiic shull be:►pplic�i to re+turetion ur repair of the . .,,' '.._� ;�'•_.�`
<br /> Property damaged.if the restoration or repair is etonomically feasible and Lender'.security i�not te�.,ened.If thc restoration or ::�:.,``.�,���r�,���_.;,
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<br /> � repair is not economically fea�ible or Lender's security would be lessened.the insurance proceeds rhal!be:spplied to the sums �: -�' •.r::�. ...•�.�
<br /> ,, secured by [his Security Icutrument, whether or not then due, witi� any excess paid tu Borrower. If Borrower a6andons the �'���'�`��'� ��,°
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<br /> 1'roperty,or daes not answer within 3fl days a notice from Lender that the insurance carrier has offen�d to settle a claim,then .-�A;:�� R��_.�
<br /> L,ender may co(►ect the insursnce proceeds. Lender may use the proceeds to repair or resture ihe Praperty or ta puy sums �r,zY=�;p-;-^.,,:
<br />-- secured by this Securiry insaument,witether or not then due.The 30-clay period w'i���egin when the notice ic�iven. ___-s�=.,��' _...._�____
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<br /> Unless Lender and Borrower othenvise agree in �r�iting, any application af prareeds to prinripal shall rtot extend or �, �_V����_
<br /> � .I� Ercts�rone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If , . _,...,��.�_,�
<br /> �- ; u���r paragraph 2! the Propemf is acquired b�Lender, Borrower's right to any insurance po�icies and proceeds resulting front �._,,:_�; �_ _
<br /> damage to the Praperty prior to the acquisiuon shall pass to I.ender to the extent of the sums secured by this Securiry I�uwment ���_�
<br /> r ' immetiiately prior to the acquisiuon. •-�'��-��_—;, _
<br /> -. 6.Oceupanzy,Preservation,Mainteaance and Protectton of the PropQrt}�:BorroRea''s Loun App!lcation:Leasehotds. =u��T� ,,..,�i_�
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<br /> _ Borro►�+er shall accupy.establish.and t�se the Properry as Bottower's prinsipal resipt�ence within sixty days after the execution of �:
<br /> this Security lnsuument and sLsil eontinue to occupy the Property as SoRC'ver s grincipal residence for at lra,-t one year after ;�n•.�;�.�.
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<br /> . th�c�ie of occupancy. unless Lender othetwise agrees in vrr%dng, whic4i consent sh�[l nut be unreasonabiy with6eld,or unless -
<br /> e.��aaLing circumstances ex�sz �vhich are beyond Bama'.*:�s conuol. Borrower s3�all not destroy. danwge or impair the " •a".__-
<br /> praxtty,allow the Property to deteriorate_ er commit �:�e on the Fmperty. Borruwer shall be in defautt �f any forfeiture ,
<br />� act4n or praaeb:ung, whether civil or crir�u�, is begtin that in Lencier's good faith judgment cauld n.�ult in forfeiture of the • •;�. �
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<br /> Frrn�ty or��.e�r�.�ise materially impair the iien created by this Security Ftt_�ment or Lender's secusity interest.Borrower may ., , , ;:�,,
<br /> cr.�such a default and reimt-��e.as provided in paragraph 18.by causia�the action or proceeiiiag to be dismissed with a ruling ' , 4 x,,;.:�: �
<br /> that, in Lender's gaod faith �ewrmination, precludes forfeiture of the Borrower's interest in the Property or other material �'�� ,�
<br /> '%"'� impairment of t!�.e �ien created by this Swzer±y Instrument or Lender's�curiry interest. Borrower shall also be in default if < ;'.t;; �
<br /> <.•Si�4 i Borrower,dutiIIii t;�e loan applicaUan pro.��:. gave materially false or inaecurate informauon or statemenu to Lender(or failed ;� v3';�.�;�•, _
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<br /> to rovide Lender with any material informa::on)in rnnnection with the Ioan evidenced by the Note,including,but noi limited �
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<br /> to,representations rnnceming Borrower's occupancy of the Property as a principal residence. it this S�uriry Instnimeat is on a . � , *�:,,-:
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<br /> � leasehodd. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the : • #�,��:
<br /> leasehold and the fee title shall not merge unless Lender a�to the merger in writing. .:� "i���
<br /> 7.Proiecti��of Lender's Righis in the Property.If Borrower fails to perform the covenants and agreemenu contained in • , :
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<br />; this Security In:�n:ment, or there is a legal proceeding ds:�t may significanUy affect Lender's rights in the Property(sucfi as a �;..;�:r-,_
<br />•� p:eceeding in ba��kncptcy,prz��ste. for cundemnation or f+�rf�eimre or to enforce laws or regulations),then Lender may do and �_��_y_
<br /> , �;; .or whatever is necessar.. ':a pmtect the value of the Pn>pe.rty and I.ender's rights in the Property. L.cnder's acpons may ,�, �i,:;,:;�- _
<br /> c,:cu�e paying zny sums seeured by a lien which has priority over this Security Instrument. appearing in court, paying �� � <<:_ ,,` •
<br /> �'`��'`� reasonable attar.rxz�•s'fees and entering on the Properry to make repairs.Althougt►Lender may take action under this paragraph :._--.,:`r'�:�•i�;�
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<br /> ; , 7,Lender daes a�t have to do sa .�� :,��s;','' "
<br /> Elny amounts disbursed by L.ender under this paragraph 7 shall become additional e.+eHt •c;Bonower secured by this ,.. .,. , ,� . ,
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<br /> �:::rity Instrument. Unless Borrower and Ixnder aaree to other terms of payment. �iv�e amounu sha11 bear int�.�rest from the ry; •�.,_ ,..
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<br /> L����of disbursement at the Note rate and shall be payable, with interest, upon notice irom Lender to Bnm;u;.r requesting . _
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<br /> , payment. . ,-
<br /> S.Mostgage Insurance.If l.ender required mortgage insurance�a condition of making the taan securat l:;this Securin� _ �w-•
<br />. � Cr�trument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for,u�.» reason, the --" ,�: �
<br /> �r.�-�gage insurartce coverage required by Lender lapses or ceases to be in effect, Burr�,wer shall pay the premiuns requit�ed to ���°� ' .� _
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<br /> ;;;,�� cuain coverage substantially�uivalent to the mongage insurar.ce previously in etife�,at a cost substantially e�;�v�•:alent to the �.�;.,,:• �• : , �
<br />�,�:.�� wst to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer appro�•v3 �y Lender. If ''''v':. �:�;��� ,
<br />�;;;;'�'•w�: substantially equivalent mortgage insurance coverage is not availabte.Borrower shall pay to Lender each month a sum equa!to ___�___ *�
<br /> '�'fi"}.� �re-twelfth of the yearly mnttrage insurance premium being paid by Bonower when the insuriuice coverage lapsed or ceased to =�;��.`--_--�--�-�
<br /> ' I�e u1 effect. Lender will accr.pt,use and retain these payments as a loss rescrve in h4u of mortgage insnrance. Loss reserve �?Y;;� `:a<.;�'=`'�-';:-''
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