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<br />' 1 A�s ��D���3 �
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<br /> � 5. Hazard or Pro¢eety Iruucance. 8urrower shall keep the improvement� now existing or hereafter erected on the , .5 " .�.�'.
<br /> � Pmperty iasured against los� by fire. hazards inciuded within the term "extended coverage" and any other hazards. irtclading , –�
<br /> floods or floading, for whirh Lender requires insuras�ce. This insutance shall be maintained in the amoune,and for the periods = ��,
<br /> •� that Lender require�. The iruuran��;carrier proviJing the insurance shall be chosen b} Borro�ver subject to L.ender's approYal , . . _
<br /> .J� which ,hall nat be unreasonably withheld. If Hottower fails to marntain coverage de�cribed •above. L.ender may, at Lender's `, - .
<br /> � option,obtain coverage to protc�ct Lender's rights in the Propert}• in accordance wich paragraph?.
<br /> All insurance policies and renewals shall be a�ti�eptabte to Lender and shall include a standard mortgage clause. Lender _ .J `
<br /> �� shall have the right to hold the policies and renewals.If Lender:equires.Borrower shall promptly give to Lender all►�eceipts of . . . � -
<br /> ;.� paid premiums and renewal notices.In the event of loss.Borrower shall give prompt notice to the insurance carrier and Lender. . �' _�:
<br />.';� L.ender may make proof of loss if not made prompdy by Borrower. � . ',���;5�•. ,..�:�.� �_�`
<br /> , .� Uniess Lender and Borrower atherwise agree in writing. insurance proceeds shall be applied to restarntion or repair of the t _ F
<br /> i;'�""Q n
<br /> property damaged,if the restontion�r re{rair is economically feasible and Lender's security is not lessened.If the restaration or „� z^v��r J}: TM
<br /> ��� repair is not economically feasible or Lender's security would be lessened.che insurance proceeds shall be applied to the sums ,r;7;�"���?t'"��`�;_
<br /> ` ' secured by this Security instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the �s=4.�`�'_—���—
<br /> �:.1 =
<br />__ i Property,or does not an5wer within 30 days a notice from l.ender that the insurance carrier has offered to settle a cluim, en ;,�;,:
<br /> ' Lender may callect the insurance proceeds. Lertder may use the proceeds to repair or testore the Property or to pay sums i :���� �� -�
<br /> secured by this Security Insnument,whether or nnt then due.The 3(1-day period will begin when[he eQUCe is given. . .� '
<br /> .��; Unless Lender and Borrower othenvise agree ir� writing. any applicauon of proceeds to pr��ypal shall not extend or _,�•,���,1.:.__
<br />, postpone the due date of the monthly paycnents referred to in paragraphs 1 and 2 or change the�+:unt of the payments. If _.�;��;;:a ____•a=..�;d�°_
<br /> - under paragraph 21 the Property is acquired by Lender.Banower's right to any insurance policies ar�d proceecls resulting from ' .���'�-�'�—_„��_-
<br /> '-: daimge to the Property prior to the acquisiaon shAll pass to L.ender to the extent of the sums secured by[his Security Instrument � ,' _ . .,,
<br /> • f, immediately prior[o the acquisition. ��
<br /> � Leaseholds. � ';� ��.. �•
<br /> •:2 b,pocvpancy,Pceservatton,Ma[ntenance and Proteeiion of the Property;Borrower s Loa�APP1IcatIon; , ,..,..�. _ .
<br /> : � Bflrroa•er shall occupy,establish,and use the Properry as Borro�+er's principal resideace within siaty days after the execution of ;;c.� 'r:.r. '��
<br /> a-.,.•
<br /> :aX����.;�`,•',v-";._.`.
<br /> this Securiry Instrument and shall oontinue to oceapy the Property as Borrower's princiaal residence for at least one year after , ,�.�� :f {. ,j.^,.
<br /> .L.f � �r ..,,r,.S
<br />•:'"s the da[e of occupancy,unless Lender otherwise agrecs in writing,which consent shal�not be unreasonably withheld,or unless :,�,
<br /> ' extenuating circumstances exist which ane beyond Aorrower`s controL Borrower shall not desceoy, damaSe or impair the �z;}s;•f - •:j�,':
<br /> . �a*
<br /> ' f property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any fodeimre �e <•� '•�.�,�
<br /> C. �" '�;1..'r
<br /> acuon or proceeding, whether civil or criminal,is hegun r��.at in Lender's good faith judgment couid result in forfeiture of the ;:� : .'^
<br /> '. ; Praperty or otherwise materially impair the lien created�}'^!`as Security Instrument or Lender's security interest.Barcawer may y,. ;
<br /> ,�_,.,.;�_
<br /> :� wre such a default s►nd reinstate,as providecl in ptu'agraph I8,by causing the action or proc.eeding to be dismissed with a ruling A:;.�.;,,;,,;;�
<br /> . �;••;.
<br /> S� that, in L.ender's good faith determination. prcctudes forfeiture of the Borrower's interest in the Properry or other material -�• ,, t j"�'
<br /> �J::':r'... :,:�
<br />` .`te:; i m pairment of the lien created by this Secarciy lnsaument�r Lender s�curity interest. Borrower shall also be in default if � :i,�
<br /> `"i � •.�
<br /> .'y Borrower.during the loan application process,gave materially false or i.�:curate i n formation or s�.a*.�me n u t o L e n d e r(o r f a i l e d �,, ,,z� •-_
<br /> ,: , ..,. :;.,
<br /> :;�: to provide Lender with any material informauon)in connecrion with the loan evider.cac by the Note. including,but not limited '�'•;: '.. ••• ��.: �.:
<br /> x•:.-,;:.-�•
<br />�•, L• to,representations conceming Boaower's occupancy oF the Property as a principal residence. If this Security Instrument is on a . },,..,._.:__,�";,'�i��:_��
<br /> '•�-:=1*� lease.hola. Borrower shall c�mply With a!! the pro��isions of the lease. If Borro���er acqssirPs f�-? ritle to the Property. the �i.:��_:._��_
<br /> �� T' leasehald fu►d the fee title sl�all not merge unless Lender agrces ta the merger in writing. "�1 +�;�� �
<br /> -._;. r�`y j(�
<br /> 7,�Protection of I.ender's Rights in the Property.If Borrower fails to perform the covenanu and agreemenu contained in r
<br /> �;.y�.,��' .
<br /> �� . ���
<br /> �_•r this Securiry instrumen�or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a �,,-: � .'_ .
<br /> ,1�; ; prooeedin�in bankruptcy. pmt►ate. for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and _ ���.�i.;
<br /> -;+�� , pay for whatever is necessary to protect t2:e value of the Property and Lender's rights in the Property. Lender s actions may : _,t � :,.,;, =-•�
<br /> :'• • inelude paying any sums secured by a 1a:a which has priarity over this Security Instrumert:, aprpearing in court. paying �;.,.�;.-_;_
<br /> _��t.•�• ,..
<br /> reasonable attomeys'fces and entcring oa ihe Property to make repairs.Although I.ender may t;s:c;action under this para�?r�h •-y -=_.�-
<br /> 7.Lender daes not have to do� . �'�'.�
<br /> .��taia►:�-'�_'.�::•:
<br /> Any amounts disburse�cl by Lc:nder under this paragraph 7 shall become a8;:iuonal debt of Borrower secured by this ,�.. .,,�,.'
<br /> Security Instrument. Unless Borrower z;:� Lender agree to other terms of payment,these amounts shall bear interest from the .� �,, .'� ,,,,,,,
<br /> date of disbursement at the I�Iote rate s:.�'+i: shall be payable. with interest, upon notice from Lxnder to Borrower reyuesung ���;%��s':,� ;,,,�
<br /> . �s '>;,�f��� ''�::
<br /> payment. ;; --•_---
<br /> 8.Mortgage L�surane¢.If Lender required mortgage insurance as a condition of making t;�e ioan setured�y this Seeurity ---*� •�•�•�*�•�.-:-, ._,._
<br /> Instrument, Bonower shafl pv? the premiums required to maintain the mortgage insurance in effect. If. for ury reason, the '"� �• `
<br /> mortgage insurance wvera�e required by Lender lapses or ceases to be in effect.Borrower shall pay the preri;:ms required to _ ,��T�
<br /> � obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost s-:hstantially equivalent to the � t�f„-::• �.
<br /> cost to Borrower of the mortgage insurance previously in effect. from an altemate mortgage ir,s.erer approved by Lender_ !f �e��:..-. _-:
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<br /> substantially eqnivalent mortgage insurance coverage is not available.Borrower shull pny to Lender each month a sum equa]to ,�, ��� ,, ���;,Y�._•.
<br /> ane-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurnnce coverage ta6s�ed or:eased to �l:� __ _;
<br /> ' " be in effect.Lertder will accept,use ard ra;�in these paymenu as a loss reserve in lieu of mort�age insurance. Loss reserve "`4 i� �.. __
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