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<br /> I �c� � 4. Fire,Flood and OtlKr HRZwrd Iowrance. Borrower atwll iosure all improvementa on the Property,whether now in
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<br /> existence or subsequenUy erected, against any hazaNS.casuetnes.ena conungenc�es,mciva�ng nre.ior wbich i.eixier �eyuu� _
<br /> ;��� insurance. ThiR insurance shall be muintained in th.. amounts ar�d for the periads that Leixler requires. Barrower shall also r
<br /> , — insufe all improvements on the Property,whether now in exiatence ar subseyuenQy erected. aga�nst loss by flaxls to thc cxtcnt
<br /> - -_ required by the 5ecretury. All insurance shali be carried wlth rnmpunies appmved by Lender. The insurance policies end any
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<br /> L_.:; - - '.:� r�newals shall be held by i.ender ord shall include loss puyable clauses in favor of,and in o form�caeptuble to,Lencler.
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<br /> ",;' In th�event of IosR,Borrower shall give Lender imn�iate notice by mail.l..ender may make proof of loss if not made
<br /> � -'� ��,� prampdy by 8ortower. Fsch insurnnce company concemed is hereby authorized and directed to rnake payment for such loss
<br /> - ----- direcdy to Lender, instead of to Horrower and to L.ender jointly. All or any part of the insurunce praccxds rrwy be upplied by
<br /> '�"�'"'O""'"'�-�� Lender, at its optian, either(a)to the reductian of the indebtedness under the Note and this Securiry Instrument,first to any
<br /> - -- ===a--�----� dclinqucnt amounts applie�i in the order in puragraph 3,und then to prepayrnent of principal,or(b)to the restnratinn or repair _
<br /> - -------—� af th� damugd Psopercy. Any appl�cution of the proceeds to the principa! shAll not extend or pr�stpc►ne the.due date of the
<br /> -. __��� manthly puyments which are referred to in paragraph 2,or change the amount of such payments. Any excess i�surance proceeds
<br /> ��;R,r,�,n;r=� over an amount required to pay all ouutandin�indebtodness under tho Note and this Security In:trumem shall be paid to thc
<br /> - -- entity legally entitled thereta.
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<br /> �_ !n the event of foreclosure of this Secudty Inatrumcnt or other transfer af tiNe ro the Property that eatin�uiahea the
<br /> --����;=�.;��s�4'� indebtednesa,all righb tiUe and interest of Borrower in and ta insurance policics in force shall pass to the purchase�.
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<br /> - TM� -��.+����:�.y��., S. Occupancy, 1'reservAtion, Maintenance and Protectlon of the Property; Borrower's Loan Applicwtion; -
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<br /> ,��,,.��;,,;,;��' = I,easeholds. Borrawer shall occupy,esteWish,and use the Property as Borrower's prjncipal residence within sixty days after
<br /> the execution of this Security Instrument and shall continue to occupy the Property as Borrowar's principal residence far at least
<br /> Fi4 � '.�. . h� one year after the date of occupancy. unless the Secretary determines this requirement will cause undue barciship for Borcower,
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<br /> ='�,at. .,�, � or unless extenuating circumstances exist which ere beyond Boirower's cot►Irol. Borrower shall rwtify Lenders of any
<br /> _ " "�'"�'� • extenuating circumstances. Horrower shell not commit waste or destroy, dsmage or subslantially chenge the Property or allow
<br /> ���''�'�•� the Property to deteriorate, reasonable wear and tear eacepted. I.ender may inspect the Property if the Property is vacant or
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<br /> �:� ';, ,�.� ��E�.,.,,. .., abandoned or the loan is in default. L.ender may take reasonable action to protect and preserve such vacant or absu►doned
<br /> . Property. Borrower shall also be in default if Borrower,during the loan application proce�s,gave makrially false ar inaccurate
<br /> _ ---•°-��= ��•.- - •�•• informatian or st4tements to Lender (or falled to provide L.ender with any material infomwtion) in conncctton with the loat�
<br /> - - ' ' ° evidenced by the Note. including, but not limited to. representutians concerning Borrower's accupancy of tlte Property us a
<br /> _'�i� y�,�,,,.;.,j:E.� � principul residence. If this Security Instrument is on a leasehold, &�rrower shall comply with the prnvisions of the lease. If
<br /> ;��-� Borrower acquires fec NNe to the Property,the kaschold and fee title shell not be merged unless Lender agrees to the merger in
<br /> s;�� -�'�•��';, � writing.
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<br /> - - =�°'". 6. Charp�es to Borrower and Protectlon of Lender's Rights in the Property. Borrowcr shull pay ull govemmental or
<br /> "' • •� , municipW charges, fines und impositions diat are not included in patagrAph :. Borrower shall pay these obligations un time
<br /> __ �.-� : � '" direcUy lo the emity which is o�ved the payment.If fuilure to pay wouW ndversely affect l.ender's interest in the Property.upon
<br /> � ' � ��`' Lender's request Borrower shall promptly fumish to L.endcr reccipts evfdencing these payments.
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<br /> � �' "'""'�, " If Borrowcr failx ta make these payments or the payments required by purngraph 2.or fails to pedorm any other covenants
<br />-':�� • e and ugreements contained in this Security Instrument. or there is u legal pr�x�ding thut may significantly nffect Lendcr's rights
<br /> �``F '•e�-�� ••- ' ,. in the Propeny (such as u procecding in bankniptcy, fcx condemnation ur to enforce luws or regululions),then Lender muy do -
<br /> •�' �� and pay wharever is necessary to protect the value of the Propcny and l.cnder's rights in the Property,including payment of -
<br />�� taxes.hezard insurnnce and other items mentioned in paregruph 2. -
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<br />_. ; , ', °� ° " Any amounts disbursed by I.endcr under�his puragraph sh•rll beeomc an udditionul dcbt of Botrower und be secured by
<br /> � '° this Security Instrument.These amounts shall bear interest fmm the date ot'disbursement,at the Note rate,nnd at the option of
<br /> � '•" Lender,shall be immediately due and payublc.
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<br />;�- ��' ;�_'= - � 9. Condemnaifun. The proceeds of any uward ur claim for d:unages, direct or conscyucntial, in connection with any -
<br /> ' ;�;� _ condemnation or o[her taking of uny part of the Propeny, or tor convcyunce ia plucc ol'condemnatian,:tre hcreby utisigned und _
<br /> • shull be paid to Le�uler to the exlent of the full umount of thc indcbtecines.�hat rcmuins unpaid under�he Note and�hi�c Security _
<br /> �� ' Instrument. I.ender shull apply such pn�cceds to thc rcduction of thc indeMcdnc,s undcr the Notc und this Security Instrument, -
<br /> � � � � first to nny delinquent Amounts applied in the urder providcKl in p•rragraph ;. •rnJ thrn to prcpayment af principal. Any ,
<br /> a' �PPliration of the pnxec�l� to the principal shall not extend or ��.t�xme the dur date nf the m��mhly paYments. which are _
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