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<br /> 5. Ha7ard or Propert�� Iasurance. Borro��er +hall keep the improvemenu nuw exi+ting or herwhcr rrectcd on the � :,� _ ; _
<br /> Pmperty incared agaiact losti by fire, harard. mrluded within[he term "extendeci coverage"and asiy athe� h�ards. including ' ` .
<br /> flood,��r tloading. Cor which Lender reyuire+imuranre. 'fhi.insurance�hall 6e maintaineci in the ami�unh and for the per�ods ' � . •t . ''
<br /> that L.ender reyuire�. 1'iie in.ur;uire r:�rrier pro�iding the in,urance.hall be chu,en by B��rruwer subjert tu l.ender'.appr�w•;il > � ` , -
<br /> which �twll ncu be unre�uunably a•ithhelJ. !f Burrower faii. tu maintain co�erage de�:cribeJ aMn�r, l.cnder m:i}. at Ixnder'+ - y,.,Y-z�+= �
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<br /> Y option,obtain coverage to pmtect Lender'ti right�in the Property in accurdanre a•ith paragraph 7. • �"�'=':===�M-==:T
<br />�' AU insurance policie� ;u�J rene�aal� �h:ill be aaeptable w L.ender and �hall include a.t:�ndard mongage rlau�e. I.ender � • - :
<br /> � �hall ha��e the right to hceld the policiea and reneu�al>. If L.ender require+,Borrower shall pmmptl}�gi�e w Lender aii nxeipt�of -- —,--��� `� ` •
<br /> Paid premiums and rene.val ruxiees. In the event of loi�.8orrower shall give pmmpt noticr to the imursn�ti carrier.:nd I�nder. ` ,
<br /> �' L.ender may make prouf af loss if not made promptly by Borrower. . _�::��—-
<br /> Untess L.ender and aorrower otherwise agree in writing.insurance proceed�shal! be applied to re..toration ur repair of the . �' -"----�_
<br /> � ` Propeny damaged.if the restoration or repair is economically feasible and Lender's security is not lessen�'d. If the restoration or � ', ��� "�#•._.
<br /> ; repair es not economically feasible or l.ender',secunty�vould be lessened.the insurance proceeds shall be applied to the sums �.`��. � �"•'^�'"���`� =
<br />� '� se�:ureti by this Security Instrumem, whether ar not then due. with any excess paid tn Bortower. If Borrower abandons the - "?`��`'�F�`
<br /> `i Property. or daes not answer within 3A days a notice from Lender that the insucance rarrier has oFfere4i to setde a claim, then �-�-=- ��� z:,,-
<br />' � [.ender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Propeny or to pay sums - •;r� ___ _
<br /> � secured by this Security Instrumeni,whether or not then due.The 30-day period w•ill begin when the notice is given. ".';`�;r%�.��---��--
<br /> '� Unless Lender and Borrower otherwise agree in wripng, any application of proceeds to principal shall not extend or '�'t^:.��:°'
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and � or change the amount of the payments. If `� ,.t=:•=Y����`
<br /> _.,.�-:—_�-�:.
<br />- under paragraph 21 the Property is acquired by l.ender, Borrower'ti right ta any insurance policies and pnxeeds resulting from ''�+�k1s��fs��
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent af the sum�secured by this Securiry Instrument ,,,_�,:•� . __-
<br />� immediately prior to the acquisition. '�.��,'�;'3�.—"
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<br /> 6.Oceupancy,Preservat�nn,Maintenance and Protection of the Propxrty;Borrower's[..oan ApplIcation; Leaseholds. _ "r. �"'� `. .y,...:=
<br /> E ..
<br /> ''f Borrower shall occupy,establish,and use Ihe Property as Borrower's principal residence within sicry days after the execuuon of ` - L ''F``� ';=-
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principal resid�nce for at least one year after .� ,M •�;
<br />' k�' the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless •
<br /> �+ extenuatina �.numstances exist which are beyond Borrower's control. Borrotiz;r sh.all not desiroy, damage or impair the , r:•• ,:. , .,; ' `
<br /> Property, a9�r.� the Properiy to deteriorate, or comrrdt waste on the ?raperty. �r:awer shaLt �re in de�'ault if any forfeiture � ,''.;�! . .
<br /> action or pmceeding,whether civil or criminal, is begun that in Lender's good fai�i judgmeec could result in forfeiture of the �"�:� `';;�.,.,
<br />: L'raperty or othenvise materially impair the lien created by this Securi�y Instrum.ent mr I.ender's security interest. Borrower may "x� � • ' �� � "' "
<br /> '�r' '. .��'s�.:.::.
<br /> cure such a default and reinstate,as provided in pasagr^�.:� 1S,by causing the action or proceeding to be dismissed with a ruling ,tr�:� `• �`. •5
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<br /> thnt, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Pmperty or other material ' •. ;,s.
<br /> :: impairmeni �+a the lien created by this ��rariry Instrument or Lender's security interest. Borr�wer shall also be in defaute if �"'' :;�' "'
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<br />`'�• Borrower,w'�ra;ng the loan application�S��:ess,gave materially false ar inaccurate information os statements to I.ender(or faeIlel`. '•r. .
<br />�a,,,:
<br /> to provide L.ender with any material in::,-nation)in connection with the loan evid�nced by the Note,including,but not limited •' ``
<br /> to,representations conceming Borrower's occupancy of the Property as a prinrip�a1 residence.If this Security Instrument is on a �`�``
<br /> leasehold, �Sar.ower shall comply with all the provisions of the lease. If Borrower acquires fee titie to the Property, the - `� .
<br /> '' '- leasehold anZ u'�e fee title shall not mer;::Jiless Lender agrees to the merger in writing. �'4
<br /> , ���°'.�__
<br /> � 7.I'rotedion of Lender s Rights d�che Property.If Borrower fails to perform the covenants and agreements wntained in _�:_
<br /> . this Security Instrument.or there is a legal proceeding that may significandy aft'ect Lender's�ghts in the Property(such as a ���=�"�:•
<br /> proceeding in barilcruptcy,probate. for condemnatioa oz fodeiture or to enforee laws or regulations),then i.ender may do and 'r =
<br /> pay for whatever is necessary to protecc Lhe value of;hr Property and Lender's rights in the Property. Lender s actions�+ay .;-�;.
<br /> include paying any sums secured by s [ien which has priority a�•er this Secuary Instrnment, appearing in court, �z:y:r.� �°1�� .
<br /> reasonabie�r:orneys'fees and entering cc��he Property to make re�a:�. Although Lender may take action under this paru:..�;�� ___-- =--"
<br /> ' 7,Lender does not have to do so. �`•�-'�`d'�'=- �`
<br /> , Any amounts disbursed hy L.ender under this paragraph 7 shall become �dditional debt of Borrower secured hy this "�'`"�""�'.
<br /> �. �--�-�..�,.�:
<br /> Security Instrument. Untess Borrower and Lender agree to other terms of payment,these amounts shall bear interest fram the 3;�'.�� �°�°°== ----�,
<br /> + date of disbursement at the Note rate ar.d shall be payable, with ;r,terest, upon notice from Lender to Borrower requ�i�p �� "
<br />';� payment. �eti u:i�r T:i•=°':
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<br /> S.Mortgage Insurance.Jf L.ender c�r,uired mortgage insurance as a condition of making ti:e toan secnred by this Security } �'-��m� �
<br /> P'• ��"-'
<br /> � instrument. Borrower shall pay the premiums required to maintain the mortgag� insurance in effect. If, '�any reason, the _- --------—
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