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<br /> 5. Haued or Property Insurance. Barrower shall keep the improvements now e�ng or heseafter ere�ted on . . . � .�„_,,�
<br /> the Froperty insuted against loss by fite.hazards included within the teem"extended wverage"and anq otAer hazards, �' ---,- '-. . - �' -
<br /> includiag floods or flooding.for whi�h Lender requi�res insurence.This iasnrance shall be maintained in the azaounta . - �° - - -�
<br /> -.,;;- .�_.
<br /> and for the periods that Lender requit�es.TF►e insuraace canier proviciing the insutaace shall be chosen bq Barrower •'.,: :.� ,, �-
<br /> sabj.ct to Lender's approval which shall not be unreasanably Hithheld if Borrower fails to anaintain ooverage described 4 `<-�<F _
<br /> above�Lender may,at L.ender s option,obtain coverage to protect Lender's righ�rs in the Property in accordance with . , r . 1' -
<br /> - P��Ph 7. � .- °' �
<br /> - All insurxuae policie3 and renewsls shall b.,aa:�ptshle to Leades and shal! include a standard mortgage clause. - '-
<br /> L.euder shall have the right w hold the policies and renewals. I�Leader requires, Borrower sbail prompdq give ta ��`.�k
<br /> Leader all receipts o4 paid premiums and renewal notices.In the event of losg.Borrower shall give prompt notice to the �''�-_
<br /> insuraAce carriec aad Lsnder.Lender maq make ptoo�of los9 if not made pro�ptly by Bn�rower. . •��-�������
<br /> Unless Leader and Borsower otherwise agtee ia writing.insurance proceeds s�all be applied to restoratioa or repair = -'
<br /> of the property damaged.i�the restoracion ot repair is economically feasible and Lender's securiry is not lessened.It the -. _ -�-� :-_
<br /> � resWretion or repair is not economicallq feasible or Lender's security would Yie lessened,the insurance proceeds sball be ��•'�-�=�: --_-
<br /> applied w the sums secured bp t}ris Security Instrument,whether or not then due.with any escess paid to Borrower.If • _�'� -----.- = �__
<br /> Borrower abaadons the Property,or do�s not answer within 30 days a notice irom Lender that the insurance carrier has . �:�,,,•.-
<br /> offered to settle a claim, then Leader 4snay collect the insuraace praceeds.Lender mag ose the proceeds w rapair or . .�;;s��_..,
<br /> . restore the Property or to pay sums secured by this Secority Instsument,Nhether or not then due.The 30-day period will -------��
<br /> �<...�.
<br /> begtn when the notice is given. - . .----------
<br /> � Unless Lender and Barrowcr otherwise agree ia�vriting,any application of praxeds to principal shall uot e8tend or , �"r:t���;�--
<br /> postpoae the due date of the monthly payments referred to in paragraphs 1 sad 2 or change the amount of the payments. _ • ��!"�;��-�-��5�
<br /> If urider paragraPh 21 the Property is acquired by L.ender.Borrower's right to any insurance policies and proceeds . ;,���: ''�_;
<br /> resulting from damage to the Property prior w the acquisition shall pass to Lender to the estent of the sums secured by '-�•� �;s-+;:_�_
<br /> this�t�uurity Instrument immediately prior to the acquis�uon. ���� ,
<br /> ri �-
<br /> 6,O+ccupancy,Preservation.Maint�ance aad Ptotection of the Property; BorroRes's Loan Applicatioa; T_'i.-�.�.�:�
<br /> , . :==:=�..��,.�._ .._.
<br /> • I.easeholda Bortower shall occupy,establish.and use the Pcoperty as Harrower s principal resideace within s�sty daya t_— � {��:♦:r:-
<br /> after the esecution of this Security Iastniment aad shall contiaue to occupy the Propettq as Borrowe�a principal � �i�. �
<br /> '' residence for at least one year after the data oi occu unless Leader otherwise a in writin ,which consent shall �`'�"• ,.�:°af���,',.;k+�' -'
<br /> pattcy. � P� ''r.::�� t�.,;.4:.�r�=-
<br /> -:,i not be unreasanably withheld,or unlese eatenuatingcircumstaaces eaist which are beyond Borrower e wntrol.Bonower ;�yr���'�" tSv��;f:'.�. '..
<br /> ' shall not destroy,damage or impair the Proparty.allow the Property to deteriorate,or cammit waste on the Psoperty. 1 t'f'�`�'r`�,;�; „ r
<br /> . Bortower shall be in default if aap forfeiture sctioa or prace�ding whether civil or criminal is begun that in Lender's
<br /> ' ' this ' " � ,°''L
<br /> � ' ood faith' d ent cauld tesult in lorfeiture of the Property or otherwise materially impair the lien created by !;, t:�,�,r,�:.Y���::�::;p<<__
<br /> � S lu 8� . ,. .
<br /> :'�`� Security Iastrument or Lender's�ecurity intE:,rrest. Bamowet may cUre such a default and re's��Le,as provided ia :�.� -�;�1i_�r;��4 r-_-
<br /> str
<br /> 18. by causing the action or ceedin to be dismissed with a rulin that, in L.ader's ood faith ;. �'!`:�'i'`�'� --
<br /> � ParagraPh Pi'� g 8 �' 8 � � �.�?;,;f_ =: .
<br /> � determination,precludes forfeiture of the Bonower s interest in the Praperty or ather material i�pairment of the lien `r•�''r � -�
<br /> cteated by this Securitp Iastru�ent or Lender's security interest.Borrower shall ai�be in default�f Borro�e�„during ..'��:j5 f"•-, -
<br /> : .r,,,..<• .�.•;•
<br /> the loan applieation proeess. �cc3 materiaUy 4alse or inaeeurate information ar s�*xinents to Lender (ot f'.�nc?ed to '' :�•i � �`
<br /> provide Lender witG1 ciny material inforraation)in connectioa with the losn evidens�d by the Note,inaluding.bot aot ',�.;; -
<br /> � limited to.sepres��sYians concerning Borrowet's oc�cupancy oi the Psoperty as a principal residence.If ttus Security ,;- ��
<br /> Instrumcnt is on a 2easehold.Bonower shaU comply with ell the provisions of the lease.If Borrower aoquirea tee title to �'.
<br /> �z.�
<br /> � the Property,the leasehold aad t�.�fee title shall not merge unlesa Lender agrees w the merger in writing. ' • •' � �.
<br /> •;�� .-
<br /> 7.Protection oi Leader's Riphts in the Property. H Borrower fails w p�rfarra the covensuate aad agr�ements ,'��-`..,":=;�;'
<br /> . ' coatained in this Security Instr�ment,or there is a legal proc�ding that may signiticanfly affect I,ender's rights ia the •. -., .._�_,-
<br /> � Property (such as a praceediag in bankru�cy, probate. for wndemnation or forteiture crc to snforce laws or - - -----� _
<br />, :�.� �; �regulationa).then Lender may do ead pay E��hatever ia necessary to protect the value of t�e L�'soperty attd L,eader's � °__-
<br /> rights in ttu Praperty.Leade�a actions may iaclude p$ying any sums secured bp a lien which?:as pnority over thia '�•'-;��>-'•• .�"�h'=:
<br />- � ment a 'n in caurt a in reasonable attomeys'fee.a aad entering oa the Property to make repaire. ";."-'-�'""'. � .
<br /> .. � SecuntqInstru . PP�� � •P Y S '�+'►=3�:,.... .
<br /> Although I.ender may take acti�a under this paragraph 7.L�nder does not have to do so.
<br /> :..
<br /> Any a�sounts daebursed by Y.ender under this paragrapA 7 shall become additionat debi of Bortower secured bp tius . ,' i�3}: �:: `.'-';°,,,.,,,
<br /> Security Inatrume��Ua1e�Borrower and Lender agsee to other ternzs czf payment,these emounts shall bear interest ` � ��
<br /> � ,����� -_
<br /> irom the date of cEis1sursement at tha Note rate and ahall be pay�ble,vrieh.iacrrest,upon notice from I.ender to Borrower "`���f�':, ��°x�x.-,.
<br /> requesting PaYmen� �< � , � 'L'.;.
<br /> i�.ItRortgaee Insuranom.F.��esider required mortp,�a�ir.surance as a condition��making the loaa eecured by thie p�,�;;.._�,�
<br /> ` Secur�t�Instrament.Sonowez�r.:�t pay the�sremiurina rc�r.�red to maintain tA9 m�xr;�„s insurance ia effect.If,for any " '���=���-'
<br /> .'�.,, , reason,tha mortgaga insurance oovera$e�szred by Lender lapses or ceases ta L� :a effecK. B.�rrower s6a11 pay tha �°
<br /> • premiuma required to obtain coveraga s�:�-�tiallq equivalent to the mortgege insurance prc�.�c�;sly in effect.at a cost � ,��.4'�
<br /> substantiaUy equivalent to the wst to Bornnwer of the mortgage insurance previously in eiiect. from an alternata � '- �
<br /> � mortgage insurer approved by Lendet. Ii substansiaqy equivalent rnortgage insvrance coverage ia not available, �•:;���= _
<br /> t,-=- s3T�_
<br /> Borrower shell pay to Lender c.�cta month a sum equal to one-twelfth of the yearly r.�ortgage inaurance premium being _ „_ _
<br /> paid by Borrower when the in..�vraacs coverage lapsed or ceased to be in effect.Le�der will accept,use arid retain these _ -`=�_,
<br /> �� payments es a lass reserve in lieu oi mortgage inauranx. Lo� reserva payments may no longer be required. : •
<br /> � �
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