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<br /> ' S.Hazard or Property Insurance. Bonowcr shall kccp thc imptovcmenGC now cxisung on c�rcaftci crccted on !hc Pr�op5 y �
<br /> ! insured agaipst loss by firc, he•r.ards included within thc tcrm "extendcd cavcragc" ond uny othcr hai.erds,including flaads or _
<br /> ' floociing,for which l.endcr rcquirc.c in�urnncc.This insurnr►cc shall bc muinWined in �hc amaums su�d for thc periods that Lendcr
<br /> % requires.7�hc insurancc carricr praviding thc insurancc shall be chosen by Borrawcr subjcct to l.�ndcr's approval which shull no� �
<br /> bc unrcASanably withhcld. If Barrowcr fails to mninuun cavcragc dcscribcd abovc,L.endcr may, ut Lendcr's appan, obtnin I
<br /> 1 ccrvcragc to pratect Lcndcr's righ4v in thc Property in accarduncc with pnrugmph 7. �
<br /> � All insurancc policics And rencwnls sh�ll bc acceptnblc to L.cndcr and shall includc a standard mongagc clau.sc. Lcndcr shall ` •�=
<br /> � ivc w l.cndcr all recci �s af a�d ;=Y_
<br /> havc thc right W hold thc{x�licics nnd rencwals. If Lcndcr rcquires, Bonowcr shall promppy g P P � i �
<br /> prcmiums and rencwal nodces.In the cvcnt af lass,Borrowcr shall givc prompt e�uucew the i�surancc currier and Lendcr.Lendcr � ��'�"'�
<br /> , may makc proaf of loss if not madc{srompUy by Borrowcr. -{��,---_
<br /> Unlcss Lcndcr und Bortowcr othcnvisc agrcc in writing,insurancc procccds shall bc applicd to restoration or rr,pair of thc
<br /> � Property clamaged,if che restoration or repair is econnmically feasible and Lender's ser.urity is not lessened.If ihe reswraaon or =
<br /> repair is not economically feaslble or Lender's security would be lessened,the insurnnee proceecis shall be applied to the sums �_
<br /> � secured by this Securiry Instrumcnt, whethcr or not thcn due, with any excess paid to Borrower. If Borrowcr abandons the
<br /> � Properry,or das not answer wlthin 30 days a notice from Lender that the insurance carrier has offered to seale a claim,then
<br /> � Lender may coliec�U�e insurance praceeds.Lender may use the proceeds to repair or mstore the Property or to pay sums secured
<br /> by this Sccuriry Instrumcnt,whether or not then duc.The 30-day period will bcgin whcn the notic:e is given.
<br /> Unless Lcnder and Horrower othenvisc agrce in writing,any application of procecds to principal shall not extcnd or postpone
<br /> thc due dace of the monthly paymcnts refcrred to in paragraphs 1 and 2 or changc the amount of thc payments.If undcr paragraph
<br /> 21 �he Property is acquired by Lender,Boaower's right to any insw�ance policies and procecds resulting from damage to the „
<br /> � Property prior to the acquisition shall pass to I.cndcr to the cxtcnt of thc sums sccurcd by this Security Instrumcnt immediatcly
<br /> prior w the acquisition. • �•�
<br /> � ' 6.Occupancy,Preservation,Maintenance and Protection of the Property; Borrower's Loan Application;Lwiseholds. --
<br /> Borrower shaU occupy,establlsh,and use the Property as Bonower's principal residence within sixty days aftec the exec:udon of
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the '�r�.:r
<br /> � date of occupancy, unless L.ender otherwise agrees in wriqng, which consent shall not be unreasonably withheld, or unless
<br /> catenuaiirig circumstaaccs cxist•�hich asc beyond RQn�w�r'c control.Borrower shall not desuoy.damage or impair the Properry, . __
<br /> allow the Property to dcteriorate, or commit wastc on the Property. Borrower shall be in default if any forfeiturc action or �.�i '�, �-
<br /> proceeding,whether civil or criminal,is beSun that in Lender's good faith judgment could result in forfeiture of the Property or :,'
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<br /> otherwise materfelly impair the lien created by this Security Instrument or I.ender's securiry interes� Borrower may cure such a ! ,'�; ,
<br /> default and reinstate, as provided in paragraph 18.by caasing the acdon or procecding to be clismissed with a ruling that,in ;. �
<br /> I.ender's good faith determinadon,precludes forfeiture of the Borrowcr's intemst in ihe Property or other material impalm�ent of . �t,;, ; ; '�
<br /> the lien cseated by this Security Instrument or Lender's security interesG Borrower shall also be in default if Bocrower,during the �
<br /> loan applicadon process,gave materially false or inaccurate information or statements to Lender(or failed to provide L.ender with •
<br /> any material informadon) in connection with the loan evidenced by the Note, including, but not limited to, representations ��, _
<br /> conceming aorrower's occupancy of the Praperty as a principal residence.If this Security Instrument is on a leasehold,Borrower r� , •���—
<br /> �y:','-
<br /> shall comply widi all the provisions of the lease.If Borrower acquires fee dde to the Property,the Ieasehold and the fee dtle shall ,� ;�,_
<br /> not merge unle,gs Lender agrecs to thc mcrger in writing. j__ _n_
<br /> ; 7.Protection of Lender's Rights In the Property. If Borrower fails to perform the covenants and agcecments contained in �;��;����
<br /> this Security Instrument, or there is a legal proceeding that may significandy affect I.ender's rights in the Property (such as a .:.�,�4w
<br /> proceeding in bankruptcy,probate.for condemnadon or fodeiture or to enforcc laws or regulations),then I.endet may do and pay -:•:�r.,-:_
<br /> for whatever is ncxessar�+eo protcct the value of thc Properry and Lender's ri�hts in chc Property.Lender's actions may include .�_:�,;t:%�
<br /> paying any sums secured by a lien which has priarity over this Securiry Instrument,appearing in coun, paying reasonable •, ;�^�?�-. __.
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<br /> attorneys' fccs and entcring on thc Property to makc rcpairs. Although L.cnder may takc acdon under this parabruph 7,L.ender . �,_,�,,,,;,Q,
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<br /> � does not havc to do sa. ''�-�`=_-. �—
<br /> Any amounts disbursed by Lender undcr this paragraph 7 shall become additionel debt ot Bonower secured by this Security .:�., :�;��.e���
<br /> � Instrument Unless Borrowcr and L.cndcr agrcc to othcr tcrms of paymcnt, thesc am�unts shall bear intcrest from thc date of °"��';�i r�
<br /> l disbursemcnt at thc Natc rate and shall bc payablc,with intcrest,upon noticc from L.endcr to Borrowcr requesting paymcn� •
<br /> 8.Mortqage Insurance. If Lender required mortgage insurance as a condidon of making ths loan secured by this Security �,�.. „
<br /> i Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect If, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses ot ccases to be in effect. Borrower shall pay the premiums rcquired to
<br /> ; obtain coverage substantially equivalent to the mortgage in�urance previously in effect,at a cost substantially equivalent to the
<br />� ; cost w Borrower of the mortgagc insurance prcviously in effect. from an altcrnate rnortgage insurcr approved by l.cnder. If
<br /> ! substanaally equivalent mortgage insurance covera�e is not av�ilable,Borrower shall pay to Lender each month a sum equal to
<br />_ ; onc-twclfth of thc yearly mortgagc insurancc prcmium being paid by Borrowcr whcn thc insurance covcragc lapsed or ccascd to I
<br /> ; ! be in effect. L.ender will accept, use and retain these payments as a loss rescrve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9100 f '
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