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<br /> periads that l.entler require�r. Tho inwranco caRier providin��he ineuronco�hull be chmien by Borrower aubJect to Lendnr4
<br /> -- --- sppmea!w�cl�slsa!!nat be anreneer�ebly wlthhcld. !!'B�rr►w�r fail� m rneintain cove►agc descrffxd alwve.Lender m�y.w
<br /> - , L,ender's option,obtain coverage to protect Lendcr x ri4h�s in the Pmpeny in accordanre wNh paragri+ph 7.
<br /> All insuronce polfcies and renewalx shull be ucceptable to l.ender end ehal I includo a stnndurd mortgage clauhe. Lr�der
<br /> '� sh�ll have the dght ro hold thc polkies ond renewalx. if Lender rcqulro�, Harower�al�all promptly give to Lender all receipts
<br /> �.�.
<br /> af paid premiums ond rcncwul naticea, In tho cvent af losa,�ortawcr ehall�ive'nm't n�tic��
<br /> o the imurance carrie�ond
<br /> �° ` - � � L.ender. L.endermay mnke proof of lmH if nut made prumptly by BuRUwer.
<br /> _ Unlcss Lender and Borrower otherwisa ogree in writing.insurnnce proceeds ahall be wppUed to restoration or repair of
<br /> ~. � ' the Property dwmagad. if the reatoratbn or repair is economicaily feasible ur�d Lenderx secunty is na lessened. If Ihe
<br /> �;� astorntion or repair is not economicelly feasible or L.ender i+ �secudty would be learened, ti�e Msurance proceeds shull be
<br /> applied to the sums secured by thfs Secur�ry Insaument. whether or not �hen due, with uny excess puid to Borrower. If
<br /> _�_,�,__�v Barrower abandans the Property.or doeg not answer within 30 days u ndke i�om Lender that the incurance carrfer ha�
<br /> — - offered to settle a claim,then Lender muy collect the insurance praceeds_ l.ender may use the proceeds ta repuir or rcstore
<br /> a=- _._.= the Propetty or to pny sumR+�ecured by ihia Security inxirument,whe�hcr or not then due. The 3Mlay periad will begin whcn __
<br /> � �.��,�.� the nodce is given.
<br /> Unless l.ender and Borrower othecwise ugrce in writing, ony upplicution of prceeeds to principal aholl not extend or
<br /> __— �,��� postpone Aie due datc of the monlhly payments refemed to in puragraphs I end 2 or change the amount of the payments. If
<br /> ��,���;_:.��,y,�"g� under parugrnph 21 the Property is acquired by Lender, Borrowerh dght to any insurnnce policies and proceede resulting
<br /> - from demage to the Property pr�or to the acquisition ahall pass to Lender to�he extent of Ihc sums securtd by this Security
<br /> ����'-� Instiument immcdiut�ly prior ta theucyuisitfon.
<br />--.--. �..;s--_; ---�=-: 6. Occupwncy� Preservallon, Maintenn�ce and ProtecNon oP t6e Propertys Borrower's I.oan AppNcation;
<br /> _ —'3b'+�-':�f'~'°��: Leaseholda Borrower shall occupy.establish,ond use the Property as Bomnwerk principnl residence within sixty days ufter
<br /> j 3'�'� the execution of this Security Inspument und shell continue to acupy Ihe Propeny as Borrower a principal residence for nt
<br /> -:A;.:.�'.�i�r�g • .
<br /> =;;;�"^"^�"`--`"--" least one year ufter the date of occupancy, unless Lender otherwise agrees in writing. whicli conaent shall not be �
<br /> _ _��:.. .,;�;t;;,,,�: •• unreasonably withheld.or unless extenunting circumatances exist which are beyond Borrower's co�lrol. Botrower shell not
<br /> °S "=•�x�::,.'�,;,-'.�,�x=' destroy,damage or impair the Properry,allow the Property to deteriorate. or commit waste on the Praperty. Borrower shall
<br /> �=�„''' ,;�„ ' be in defnult if any forfefture nction or proceeding,whether civil orcriminal,is begun that in Lender:4 good faith judgment
<br /> _��.,w�t��`Y+a�.it:.p;.'_ could rosult in forfeiture of Ihe Property or otherwise mnteriAlly impair�he Nen created by this Security Instrument or
<br /> .•s••• w�^' Lenderk secudty interest. BoROwer may cure such u default und refnstate.us provided in paragraph 18,by causing the action
<br /> ���°�;��r:'-.�+.•� or proceeding to be dismissed with a ruling that,in Lender�goad fnith detcmi'nntion,precludes forFeiture of the Borrower�
<br /> � +J��{ �• • �+�f' interest in the Pro or other material im airment of the lien created b this Securit Inswment or l.enderk securiry
<br /> _= � . r�:::��. :.. PMY P Y Y
<br /> ! _���,••���„_1 t,t . interest. Borrower shall also be in default if Borrower, during the loan npplication process. gave materially false ar
<br /> — �,�_� inaccurate information or statemen� �o Lender(or fuiled to provide Lender with any materinl informalion)in connection with
<br /> _ ----— --:�x; thc laan c��idcnccd by thc Notc.incladiag, but not limised ro. sepresetstetions concerning Boir+�wPr A �ecu�ancy of the
<br /> = Property as a principul residence. If ihis Security Instrument is on a leusehold,Borrower shall camply with All the provisions
<br /> ' of the Ieose. If Borrower acquires fee iitle to�he Property,the leasehold and 1he fee title shall not merge unless L.ender agrees
<br /> =,.-•�� ., .;„ '� to the merger in writing.
<br /> • - 7. Protection of Lender's Rlghts in the Property. If Bcxrower fails to pert'orm the covenams und ogrcxmenls
<br /> i�:r contained fn this Securlty Insnumem, or there is u lcgal proceeding tt�at mny significanNy affect Lenders rights in the
<br />-`=rf� .. : ,,�,�. ` ..., ;, :•. Property(such es a praceeding in bankruptcy,probate,for condemnation or fafeiture or to enforce laws or regulations),then
<br /> --_�,• „. Lender muy do and pay for whatever is necessary to protect the value of the Praperry and Lender's r�ghts in the Properry.
<br />- _ ` '�" Lender's actions may include puying any sums secumd by a lien whicB has priority over this Securiry Instrument,appearing _
<br />- _�-� " ° in court,paying reasonuble utwrneys'fecs und entering on the Praperry to make repairs.Although l.ender mny teke action
<br />-'";�' ` '`" '' ��9�' under this paragraph 7.Lender does not huve to do su.
<br /> �;� • t._ � ��j���-, Any amounts disbursed by Lender under thi� purn�ruph 7 shall becume udditionul debt of Borrower secured by this
<br /> �'t� d. ' -.•� Security Instrument. Unlcxs Barcowcr und Lcnder ugrce to ather terms of payment,these Lmoums shull bear interest from thc
<br /> - ' ` �^^'�� " dnte of dixburscment ut the Note rntc und sh•rll be payable,with inlerest,upon notice fmm Lender to Borrower requesting
<br /> ��. .. �' payrnent. �-
<br /> �•�`, , .,�. ,,,, 8. Mortgage Insurance. If Lender reyuircd mortgage insuruncc ux u rondition of muking the loare secured by thig
<br /> � �.,,.. , .L'7� Security Instrument, Borrower shnll pay ihc premium4 reyuircd to mnintuin the mortguge insurunce in effect. If, for any �,
<br /> ��; • v%- reason, the mortgnge insurnnce coverage requirrd by Lender lupu:s or ceuties ro be in effect, Borrower shall pay the
<br /> � •. o� premiums required to obtain coverage �ubs�antiAlly equivnlent to ihe rnonguge insurunce previously in effect, at a cost
<br /> , Rubstontially equivalent to the cou to Borrower of thc mongage insurance previously in effect,from on ulternate mortgage —
<br /> " ° insurer upproved by Lender. If subtitwxiAlly eyuivalent mon�uge insurnnce covemge i.not uvniluble,Bomower shall pay to
<br />,,, . �.r�„ I.ender each month n sum equul to onc-twelf'th uf the yeurly mortguga insumnce premium bein�puid hy Borrowcr when the
<br />��"'±� ''�`"'i-�.. � insutnnce covemge Ic►psed or ceased to be in effect. Lender will accept,use und rctain thexe paymentx as a loss reserve in lieu
<br />�•-.':; �"� ;� of mongnge insurnnce. Loss reticrve payments muy na longer he reyuired,ut the option of Lender, if mortgnge insurunce
<br /> �:.• •' ��'' , coverage(in the amount und for the perial thut Lender rcyuires)prov ided by an in.rurer upproved by Lender again becomes
<br /> '` ;�:� � �. uvuiluble und is abtuined.Borrowcr hhall puy the prcmiuma rcyuircd tc�muimain mortFugc insurunce in effert,or ro provide u —
<br /> ; �'. losx reserve,until the rcyuirement for monguge insurunce ends in accexdance with any wrilten ugreement be�ween Borrower _
<br /> � ° ° . and Lcnder or applicablc luw. _
<br /> � , ' 9. Inspection. Lender or ils agcnt muy mukc rca.onablc cnuics u�m:u�d impcctions of►he Propeny. Lender shall --
<br /> s . . ' give Borrowcr noticc ut the time of or prior to an inspcction xpecifyinF rea xonable cau,e fur thc insprction. r
<br /> , „ 10. Condemnatlon. 'I'he pr�xeeJ�ol�uny.iwurd��r claim ti�r dcuna�c.,dircct ur runtieyuential,in ronnection with:my I
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