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<br /> .'.,� �. }�� a.p�,npqty Iqwrance. gorrower dw11 keep the improvemenu now exi�ting or heRafter erxted on the
<br /> . ..,+ property insurod+�alnst lou� by flrc. i�z�rds includod wlthin the term "extended coveraQe'ond any otlar h�rrsdt, including
<br /> �"- �'����� flooda or floodin�, for whlch Lender rcquires inw�ranee. Thic insurance��ll be mointained in the amounto u�d Por tho periodt
<br /> ', '''� J' that Lender requires.The fnauru�co r,arrier provlding the bcurance shall be chosen by Bortawer wbJoct to L.ender's approvd
<br /> „�,�,,:„_,:;°."•" which rhWl not be unrcasoiwbly withheld. lf B�rtower iails to mainwin coverage describod above. l.ender mry� w Lender's
<br /> "�"" ' ;.° option.abtAfn covcr�Qe lo protect Lcndt.r'R rights in tha Property in xcordarux with EwraBraph 7.
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<br /> �„-,�._.__._ . .": All insurance licies and renew�ls ehall be ac��eptoble to [.ender And �iwll include u standard mortgagc clause. L.cnder -
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<br /> shell have the ri�ht to hold the pnikics and renewal�. If Lcnder requircs. Borrower ahall promptly Qive to Lender�ll roceipts of
<br /> " •• pai d pre m fums an d rcnc w a l n a i c e s.i n t h e e v e n t o f l o o s,B a now er aholl�ive pro m pt notice to the lnsuran�e cz�rrfer rnd L�ender.
<br /> -- :�.��-�*�� � • l.,en�ler may mako proof of loss if not madc promptly by Horcower.
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<br /> '.�•��' Unless I.cnder wnd Borrower otherwiac agre�in writing, insurance procee�s shell bc applied to rastor�don or repair af thc
<br /> '=��`-':� `•'<''�'�' dama ed, if the trstorotton or re r is econamicall fcasible and Lender•s secur�t is not lessenod. lf the mstor�don or
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<br /> �--_�, :��,�:: •�� •� repair ia not ernaomically feasibie ar L.ender's securlty would be Iessencd,the insurance proceeds shal! be appliod to the aums
<br /> ���;�,',��'�,'. sexured by �hia Security Instn�ment. whether or not then due, with any excess paid to Borrower. If Borrower abandons the
<br /> ._; property,or daes not anawer within 30 days a notice from l.endcr that the insurance carrier has offered W seule a claim. then
<br /> ���,'„�''. `:�." Lender nwy collect Ihe insurance praceeds. Lender may use the proceeds to r�peir or c�eestore the Property or to pay ewas
<br /> ��� � ,� :�'� cxurcd by this Secudty Instrument, whether or not then due. The 30-day periad will begin when the notice is glven.
<br /> ��"'�"`'�r'•""'"""'"'� Unless Lender and Borrower othenvise agree in writing, any epplication of proceeds W princlpol shall not extend or
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<br /> .�,' ' postpone the due date of the monthly payment� referred to in parag�aphs 1 and 2 or chenge the amount of the payme�tta. If
<br /> "�=' ' � under ara ra h 21 the Pr is uired b I.ender, Borrower's d ht to an inaurance licies and roceeds resultin from
<br /> > . . P 8 P W�nY �9 Y B Y Po P B
<br /> , .. ' demege to the Propeny prior to the acquiaition shall pass to Lender to the estent of the sutns ce�ured by thie 3ecurity Inrtrua�ent
<br /> ��'- _ _ _:: --. lmmediately pdor to the acquisition. _
<br /> � . .ti' 6.Oocuppncy,PreserYallon,Mpintenance and Prutection of tde Property;Borrower's luen Applicatioa;I.easehold�.
<br /> � • Borrower ehall occupy, establish.end use the Property as Borrower's pdncipal residence within siaty days aRer 1hc exe�ution of
<br /> ° � , � this Secudty Instrument and shell continue to occupy the Property as Borcower's principal residence for at least one year after
<br /> .� � the date of occupancy, unle.gx I.ender otherwise agrees in writing, which wnsent ahall not be unreasonably wlthhcld, or unless
<br /> ,'���'�� extenuating cir+cumslei►ces exlst which are beyond Borrower's control. Borrower shell not destroy. darnege or impair the
<br /> � ° • Property,allow the Property to deterbrate, or commit waste on the Propeny. Borrower shall be in default if any forfeiture
<br /> •� . action or proceeding, whether civil or criminal,is begun that in i.ender's goad faith judgment could result in forfeiture of the
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<br /> •�' Property or otherwiae materially impair the lien created by this Security Instrument or l.ender's security iateresc.Borrower may
<br /> ��k""��'":• ;,��� cure such a default and reinstate, as provided m paragraph l8,by causing the actian or proceeding to be dismiscod with A►uling
<br /> ' � that, in Lender's good faith detemiination, precludes forfeiture of thc Borrowcr's interest in the PropeRy or othcr materfal
<br /> s' impairment af the lien created by this Security Instrument or LendePs security interest. Honower shall also be in default if
<br /> Borrower,during the loan application pracess,geve materially false or inaccutate inforniation or stetemetNs to Lender(or faildd
<br /> • '�`� to provide l.ender with any material lnformation)in connection with the loan evidenced by the Note.including,but not Iiadted
<br /> „ � �� to,representations conccrning Borrower's accupancy of the Praperty as a principal residence. If this Socudty Instrument is on A
<br /> . , • leasehold, Borrowcr shall comply with all thc provisions of the lease. If 8ortower acquires fee dtle to t6e Aroperty� t6e
<br /> , " �• leasehold and the fee tiNe shall not merge unless i.cnder agrees ta the merger in writing. "
<br /> . 7.Protection ot Lender's Rlghfs in the Properly.If Borrower fails to perform the covenants and agreernents contajned ia
<br /> } . this Security Instrument, or there is a legal proceeding that may significantiy affect l.ender's dghts in tiie Property (such ns A
<br /> / proceeding in bunkruptcy,prabs►te, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do aad
<br /> `�� pay for whatever is necessary to protect the vulue of the Property and I.ender's rights in the Prnperty.I.ender's actions may
<br /> �'� include paying any sums secured by a lien which has priority over thix Security Instrument, appearing in court, payfng
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<br /> reasonable attorneys'fees and cntering on the Property to make repairs. Although[.ender mey take action under this pata�raph
<br /> �:1. . "' 7. Lender daes not huve to do so.
<br /> ;- Any amounts disbursed by I.ender under this paragraph 7 shall became udditional debt of Borrower secured by this
<br /> , Security Instrument, Unless Borrower and Lendcr agree to other terms of payment, these amounts shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> ��,.. � � Payment.
<br /> � • � " 8.Mortgage InsurAnce.If I.ender required morigage insurance as a condition of muking the loan secured by this Secudty
<br /> ' ��. � Instn�ment, Borrower shall pay thc premiums required to mnintuin the mortgage insurance in cffect. 1F, for eny reason, the _
<br /> . mortgage insurance coverugc requircd by Lcndcr lapscs or ceascs to be in cffect,Borrowcr shall pay the premiums r+equired to °
<br /> �`� • obtain coverage substantially equivalent to the mortgage insurance prcviously in effect,nt a cost substantially equivAlent to the —
<br /> � � . ° ' wst to Borrower of the mortgage insurance previously in effect, from an altcrnatc mungage insurer approveJ by L.ender. If F=
<br /> � ��_ ' � � substanti�lly equivulent mortgage insurance coverage is not�vailuble, Hc�rcower tihall pay to Ixnder each month u sum equal to ("
<br /> ' ��_.. • one-twelflh of the yearly mortgnge insurunce premium being paid by 8orrower when the insurunce coverage lupsed or ceused to ;-,.
<br /> � � . � be in effect.L.ender will uccept, use and retuin these payments as a loss reserve in lieu of mortgage insurance. l.oss reserve F�
<br /> ' . Form 302� !I!0
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