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<br /> � •�t(���;� " . � 5. Ra�ard or Prnpr.rty Insasanoe. Borrower shal! kecp tdz improvemeats now euisting or he�eafter erecte� on the :;:,�'�.:,�.�-
<br /> `� � • Property insumd against loss by fire. ha7ards incladed within the term"exteaded caverage"and any other ha�ar�ds. inctuding .
<br /> ;�:.', '_ � � � • itoods or flooding,for which l,ender requires insurance.This insurance shall be maintaine�in the amounts and for the periads �.Y�;�.'. •�.,`;,
<br /> ::� ; .`,_'., that Lender requises. The insurance raniee providing the insurance shall be chosen by Borrower subject to Lender's approval �� �
<br /> 'S..' : .:
<br /> `. _ ,., which shall not be unreasonably withheid. If Bomower fails to maintain coverage descrihed above� I.ende�may.at Lender's� • r'
<br /> : � �. • ` `°•� option.obtain coverage to protect Lender s righu in tfie Property in accordance witi�paxagraph 7. �`��� ,
<br /> f ' .���_ Al!insurance policies and renewals shall be asceptable to Lender and shall include a standard monguge clause. [.ender� 6•. ,'
<br /> ___ __ s h a l!h ave t he righ t to ho l d t h e po licies a n d renew a ls.I f L e n der requires.B ormwer s h a l l promp t ly g i v e w L e n d e r a l t r e c e ip t s o� ` °
<br /> �t paid premiums and renewal notices.In the cwent of loss.Bormwer shall give prompt notice to the insurance carrier and l.ender.Q ' 4�°.�
<br /> ` , � ., :'. Lender may make proof of toss if not made prompdy by Borrower. � �:
<br /> .. i . . .�.4 i.��
<br /> s��` �: . . Untess I.ender and Borrower othenvise agee in writing.insurance proceeds shall be applied to restoration or repair of th� .� •��•:
<br />.E , . � '_ ,':.iires._-�._���_:'.
<br /> - � ' . ProPerty damaged,if the restoration or repair is eoonomica2ly feasible and Lsnder's securiry is not lessened.If Ehe resEorafion o t� , �.; __
<br />.k;. .:'; � ' ` '`• ` repair is not economically feasible or Lender's sec�rity woWd be lessened, the insurance pmce�ls shall 6e applied to the su� .•a-� -. :,- _.
<br /> { '' � secared by this 5ecuriry Insirument, whether or not then due, with any excess paid to Borrower. If Borrowe.*ribaudons the ` `� �——
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<br /> r '�: ,,�.: �; , Property.or does not answer within 30 days a notice frum Lender that the insurance carrier has offered to settle a claim,then , -=_-
<br /> Ieader may coUect the insurance proceeds. Lender may use the pmceeds ta repair or restore the Property or to pay swns ` , r`Y"r�
<br /> �� . � secured by this Seatrity Instrument.whether or not then due.The 30-day period wili 6egin when the Rouce is givet�. - - _ �
<br />, � < ' Uriless Lender and Borrower otherwise agree in writing. any application of praceeds tu princi p a l shall noi extend or " .��:
<br /> � ��"�'"( ~ ��� `��.r" postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ,
<br />�:. � ��� . `' , nnder paragraph 21 the Property is acqnired by Lender.Eorrower's right to any insnrance policies and proceeds�esulting frum
<br /> �'�` `' r'���•' ' damage to the Property prior to the acqaisition shall pass to I.ender to ihe extent of the sums secured by this Security Insttument ' —
<br /> t, -
<br /> �T ' � � • immediately prior to the acquisition. �-
<br /> T� ' "..._ "' - 6. �ccupancy,Pceservattou,Maintenaace aad Protedian of tbe Pco Botz�we�s I,aan A - - ----
<br /> , _ :�:�',;. P�Y+ PPUcatfon;Leasehoids.
<br /> `�� � � �cer�wer shal!occupy,establish,and use the Property as Borrower's priacipal residence within sixty days after the execution of =—
<br /> �:. .
<br /> ;-• .`--�� •: • • t&is Security Inswment and shatl conGnue to occupy the Property as Borruwer's principal cesidence for at least one year after : •.:�.�'
<br /> - �. ��. :��;;r•.;r the dat�of occupancy.unless t.ender otherwise agrees in writing.wtuch consent shall not be unreasonably withhetd.or unless ;`;'r s,.�''-�.'
<br /> �" ��..._.4,...;;.;.�:4:�.::::.: extemiatiug'circamstances exist which are beyond Borrower's control. Borrower sl�aA not desuoy. damage or impair the -- __
<br /> t=�" •� � � Property,altow ttie Property to deteriorate.or wmmit waste on the Property. Bonower shall 6e in defauit if any forfeIture ---_
<br /> � , . , :. ,�.... �
<br /> ��.`�=� action or proceeding. whether civil or criminai, is 6egun that in Lender's gaad fait6 judgmeat wuld result in farfeiwre of the - _
<br /> � � • Property or otherwise materially impair the lien created by ttus Seauity lnstmment or Lender's secarity interest. Sorrower may :�
<br /> �1_._ S.� "; cnn stich a default and reinstate.as provided ia paragraph 18.by causing the action or proeee�ing to be dismisr,ed with a ruling =� _—
<br /> - � - �_ -.�=;�:� that, in Lender's good faith determinallon. preciudes forfeiture of the Barrow:,r's intesest in the Property or ather materin! `�='J-==� �_-
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<br /> _ • impairineat of the lien created by this Securiny Instrument or l.ender's security interest. Borrower shall also be in defaWt if �z:
<br /> � � `����`� � '�• ; Bcanwer,during the loan application process.gave materially false or inaccurate information or statemems to Lender(or failed ���;�_, .���-
<br />;�`'�• �� •�� , to provsde Lender with any material inforrnation)in connecaon with the loan evidenced by the Note,lncluding,but not limited ..�. - _
<br /> �+ .�:�� �� . � to,representafions conceming Borrower's occnpancy of the Property as a principal residence.If this Security Instrument is on a - `: .�
<br /> �`.:, , ��"`� leasehold,Borrower shall comply with all t6e provisions of the lease. If Borrower acquires fee title to the Property. the l�`.`'� �;.
<br /> . . � . leasehold and the fet title shall not merge unless I.eader agrees to the merger in writing. ��_
<br /> �;;_.,�� � 7.ProEection of Lender's Rlghts in the Property.If Horrower fails to perfarm the covenants and agreements contained in —_
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