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<br /> t. 5. Hazard or Property Insurance• Borro«�er shall keep the impm��emenh noti�• exisung ur her�aRer erected on the . ` .� ,�
<br /> Propen} insured again�t lo++bp fire. h a r�rd+ includctii aithin the term "ettended ru�erage" and am• other hazards, including _ . _�
<br /> flood.ur flooding. for which L.ender reyuires insura�ue.This inaurance shall be maintained in thr amaunts and tor the penods ,� _.
<br /> that Ixnder reyuires. The insurance carrier pro�•iding the in�ur.ince shall be cho��n b} Borro��er wbjert tu Lender'+aQproval -
<br /> which shall not be unre�.son:ib�y �cid►hetd. if Borrawer fait�to maintain ��verage d��cribrd aho�•e. L.ender may. at C.ender's
<br /> option,obtain cv��erage to pratect Lender'c rights in the Property in accordance with paragraph 7• , .:�,
<br /> - All insurance policiea and rcnewals +Fall be acreptabte to Lender anJ .hall include a�tandard mortgage clausr. Lender _ .
<br /> shall have the right to hold the policies and renewals. If L�►dkr requires. Borro.cer shal!piomptly gi��e[��Lender all receipu of _ , .� • �-
<br /> paid premiums and renewal notices. In the event of lu�.,.Borrower�hall gi�•e prompt notice to the in�uranre carrier and Lender. -^���s�a�
<br /> I.ender may make proof of loss if not made promptly by Borrower. � �S„ , .�
<br /> `. Unless Lender and Borrawer otherwise agree in writing,insurance proceed��hall be applied to restoration or rep�ir of the , .
<br /> � � property damaged,if the restoration or repair is economi,�ally feasible and Lender's serurity is not lessened. If the restorauon or '4 ' ::';:,,� ; =`
<br /> repair is not etonomically feasible or L.ender's security would be lessened.the insurance proceeds shall be applied to the sums �`. �,,;� - ,.�,
<br /> ���x.
<br /> secured by this Security Instrument. whe[her ur not then due. with any excxss paid eo Borrower. If Borrower abandons the - :3h.�..:� __
<br /> � �'T�"
<br /> r•' Properry, or does not answer within 30 days a notice from Lender that the insurance carriee has offered to settle a claim, then �_;E,,., _ ''
<br /> �_��: --
<br /> . Lender may collect the insurance proceeds. Lender may use the proceeds to repair or re+wte the Property ��r to pay sums ',_;`'g� , _
<br /> secured by this Security lnstrument,whether or not then due.The 30-day period will begin when the notice is given. � ,c:• �_h�+=
<br /> ��Y"'�5,"�� ,
<br /> Unless Lender and Borrower otherwise agree in writing. any application of procazds to principal shall not extend or �,:..:
<br /> �� �6-�
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If _.'�'9': .; ;.,,';_
<br /> under paragraph 21 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulung from , �:_: ,)�� �. T
<br /> damage to the Property prior to t6e acqu+sition shall pass to Lender to the extent of the sums secured by this Securiry Instrument ����,�,,,�`,
<br /> ,:�• �y�
<br /> immdiately prior to the acquisition. '- '—" ""`_ ��:
<br /> ' 6.Occapaac5+,PrESesYat;vn,Maintenance sind Protedton of We Propertv:Borroorrer's Loan Applicatlon;Leaseholds. �- ,_—_
<br /> II �
<br /> � Borrower shall occupy.�-tablish,and use[he Propem�as Borrower's principal c�.dence within sixty days after the execution of ,' ,1 :^� _
<br /> this Securin Instrument and shall rnnrinue to occupy the Property as Borrower's principal residence for at least one year after . ,",q,�;_:
<br /> � the date ef cn.cupancy,unless Lerder otherwise agrees in writing,which conseni shall not be unreasonablY withheld,or unless
<br /> extenuaL'-� �.ircumstances ex�n �n+hich are beyend Boaower's wntrol. Borrower shall rtot destroy. damage or impair the r ` �'
<br /> . Properry, allow the Property to deteriorate, ur rnmrsit waste on the Property. Borrower shall be in default if any forfeiture _ + ; 4•.
<br /> action os F*occeding, whether civil or criminal.is begun that in Ixnder's good faith judgment couid result in fatfeiture of the
<br /> property ur otherwise materially impair cye lien created by this Security Instrument or L.ender's se�vrity interest.Borrower raay � �'i� '�
<br /> 1, �; cure such a default and reinstate.as F�vnded m ParagraPh 18, by causing the action or proceeding to be dismissed with a ruting ;_�. _�_
<br />:i'�• that, in i.ender's gaod faith determ:,-��un. precludes forfeiture of the Borrower's interest in the Property or other m.;:�ria1 ',;f:-<
<br /> im pairment of the lien:z�te� by :.::s Security Instrument or Lender's security interest. Borrower shall also be in def�:tt if , q`➢•,_�
<br /> . Bonower.during the loan application pracess,gave materi a l ly f a lse o r i n a c c u r a=s i n f o r m a t i o n o r s t a t e m e n�S t o L e n d e r(o r f a iled ^� ��
<br /> � to provide Lender with any material information)in connection wi t h t he loan e�idenced b y the Note,incl��ng.but not limited �i
<br /> • ntations concemin Borro«::r s occupancy of the Property as a principal residence. if this Security instrument is on a �`'-��"
<br /> to,represe g ���
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Prope-:y, the ,,.• ;,4::
<br /> leasehold and the fee title shall not merge unless i.ender agrees to the merger in writing. ..,�����
<br /> � 7.Protertion oY Lertder's Rights in the Property.If Borro�ver fails to perform the covenants and agreements contained in .�.�_
<br /> . this Securiry Instrument, or there is a legal proceeding that may significantly affert Lender's righu in the Property(such as a ,,,r, _�_�,�
<br /> nder ma do and �'-�y=�-'�
<br /> ' proceeding in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations). then Le Y _-.!.. i
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in t�:: �roperty. Lender's actions may �_., S�L;. `
<br /> include paying any sums secnred by a lien which has priority over this Security Instrument, appearing in wurt, paying — _..
<br /> ` reasonable attomeys' `:�s and entering on the Property to make repairs. Although L.ender may take action under this paragruph ��-.;.T,,...,.,.Y.-, .,:
<br /> T.Lend��does not ha�e:v do so. — �
<br /> �—•_�--_
<br /> Any amoants disbursed by Lender under this paragruph 7 shall beco:ne additional debt of BorroR•er secured by this E-.:�r`�._ ---- -_---
<br /> Security Instrument. Unless Borrower and Lender agree to other terrns of payment,these amounts shall bear interest!'�*a�the — __r,�-
<br /> � date of disbursement at the Note rate and shall be payable. wi[h interest, upon notice from Lender to Borrower^:<,+�esting _�
<br /> payment. � _
<br /> ,• ;,,r:._,
<br /> 8..Mortgage Insurence. If Lender required mortgage insurance as a condition of making the loan secLSd by this Security _. --,..�:._.
<br /> Instrument, Borrower shall pay the c�emiums required to maintain the mortgage insurance in effect. Y;, fot any re3son.the ����^�,�:-�.
<br />. mort�age insurance coverage requira� by Lender lapses or ceases to be in effect.Borrower shall pay the premiums rec,uired to ,�.,.; ���;;^,;:,_.��.;::
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<br /> obtain coverage substantially eq:citia::at to the mortgage insurance previousty in effect, at a cost substanrially eqaiva�wr to the �';�.,�, � ..
<br /> �,...�=_= :
<br />� � cost to Borrower of the mangage insurance preciously in cffect. from an altemate mortgage insurer�yroved by I.ender. If ����T____
<br /> � � substantially eyuivaler.t mortga�e insurance coverag:is not available.BorrourEr shall pay to Lender each r�oath a sum equal to ,.�. __
<br /> one-twelfth of the yearly mortgage insurance premium being p2id by Borrower when the insurance coveraa�lapsed or ceased to }r�•,"_
<br /> be in effect. Lender will accept,us�and retain these payments as a loss reserve in lieu of mortgage insurance. Losa r2serve _ .s:.,_.__
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