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<br /> � - �`.` . 5. Ha�ard or Pro � Borrower st�all keEg the improvemeats �existing or hereaRer etected on the 'i,� ��, t , ` .
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<br /> . • . . �Pen3+ insured against loss by fire.ha�rards inctaded witivn the term"extended rnverage"and any other ha7ards. including ;. 4`�.� . �, •
<br /> �F.', ,�:�'.'
<br /> . r fioods ar flooding,for which Lender requires insurance.This insurance shsill be maintained in the amounu and for ihe periods Cfl , �� ;
<br /> �� •- m
<br /> ` �'��''.` that Ixnder requires. The insurance cxrrcer providing the insurance shall be chosen by Bos'rower sabjecc to Lertder s approva! � ,', <: ;;<�`'.
<br /> V,� which shall not be unreasonabiy withheid. if Borrower fails to maintain coverage described above. I.ender may, at Lender s � � �, t::'.
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<br /> - option,a6tain coverage to protect Lender s rig6ts in the Property in accordance with ParaBraPh�• ' � _ __
<br /> ' " < �� All insurance policies and renewals shall be acceptable to Lender and sha11 inctude a standard mortgage clause. Leetder !�y
<br /> shall have the right to hold the policies and renewals.If Lender requires.Borrower shall promptiy give to I.eader aJl receipts o f � , '�,.�-�� �
<br />;�.;` .`,- � �::, s paid�ptemiums and renewal norices.In the evet[t of lass.Borrower shail give prompt notice to the incurance carrier and Lender. � ' =x `�.�: :.�'
<br /> _� z _ _ I.ender may make praof of loss if not made promptty hy Borrower. _
<br /> _ � llnless Lender and Borrower otherwise agree in writing.insurance ptuceeds sha11 be apPlied to restatation or rejmir of tlie � _. .y -
<br /> � � � ' propeny damaged,if the restoradon or repair is ecanomically feasib�e and Lender's secarity is not tessened.If the restoration or . • __
<br /> :;�. , �<Y�° repair is not economically feasible or Lender's secnrity would be lesseaed,the insuiance pmceeds shall 6e applied to the sums � • . ."•�-_�
<br /> ,�,r ." '.� 6' Sewmd 6y this Security Insm►men� whether or not then due, with any excess paid to Harrower. If Borrower abandons the :� "'f��v:�:T''"-
<br /> ° . - Properry,or does not answer within 30 days a aotice from Lender that the insura�ce carrier has offered to settle a claim, then ����
<br /> .:� ...
<br /> � � . Lender may collect the insarance proceeds. Lender may use the pmcaeds to repair or �estorc the Property or to pay sums :
<br />;.�:'� •` . �� ��,�. serured by this Sec.urity Insorument,whether or not then due.The 30-day period�+nll begin when the notice is�ven. -
<br /> � s' �.'. t. � ucation of roceeds to rinei shall not extend or _
<br /> _ Unless I.ender and Borrower otherwise agree�n wriang, any app' p P P�
<br /> • , '.� �i;• .� postpone the due date of the monthly payments referred to in patagraphs 1 and 2 or change the amount of We pa}mieau.If • ---
<br />- � .� ;',.�\ ander p a t a g i a ph 21 the Property is acqnired by Lender.Borrower's right to any insurance policies and procee�ts resulting from ��• :�•�'` �,.;_
<br /> .. . . _,L,.:.'�;:.
<br /> _ .._....,�.�. . • damage to the Property prior to the acquisition shall pass to Lender to the eatent of the suias secured by this Security lnstniment .,«,- _ti,� :'_y`
<br /> � immediately priar w tiie acguisition. ��
<br /> � ' � 6.Oocapancy.Preservation,Malnterwnce and ProtectEon of the Property;Borrowe�'s Loan ApplIcation;I.easehoids. . ���-_�—
<br /> ' a�r,-:
<br /> ,�'�' • . Bonower sl�all occupy.establish.and use the Propetry as Borrower's principal residence within sixty days after the executioa of •;��-�-;;;::,
<br /> -- � -� - `�`-' this Security Instrument aad s6all continue to occupy the Pcoperry as Borrower's principal residence for.at least one year after �,D-�a_
<br /> � ,; � .� ,,� the date of occupancy.unless Lender otherwise agrees in writing.which consent shall not be unreasonably withhetd,ar unless -� :�°���_
<br /> =,�= � . 'o-;, extenuating circumstances exist which are beyond Borruwer's cantrol. Borrower shall not desdroy, damage or impair the .-� ��� `�.�
<br /> ` � ' S'' Properiy. allow the Property to deteriornte, or commit waste on the Froperty. Borrower shall 6e in default if any forEeiture
<br /> i',% , ` . . � • -�-
<br /> • '� •°�• ��' action or proceeding, whether civil or criminal,is begun that in Lender's good faith judgment cautd resntt in forfeiture of the ___
<br /> `•' • --�.. ,';�'" `...' Property or oiherwise materially impair the lien created by this Security Instnsment or I.ender's security interest.Barrower may
<br /> ';,.r,•,: .' '��
<br />:��Y� cure snch a default and reinstate.as provided in paragrapb 18.by causing the action or proceeding to be dismissed with a ruling ___
<br />:�;,% . � �� that,in Lender's gond faith determination. precludes forfeiture af the Borrower's interest in the Property or other material ."��•"
<br />'?::� . - ' impaimieut of the lien created by this Security Instrumept or I.ender's security interest. Borrower shall also be in default iF
<br />�'" � � ave materiall false ar inaccurate information or statements w Lend�r(or failed ` - _
<br /> '� Borrower,during the loan application process,g Y � ' � :° .�
<br /> frt -:;:�,_"-:. - : ..... ...—_
<br /> • to provide Lender with any material information)in corutection with the loan evidenced by the Note.including,but Qat limited _.,_ _
<br /> , to, representations canceming Borro�ver's occupancy of the Properry as a principal residence. Yf this Securiry Insmune�is on a .. '.;�,��_
<br /> leasehold, Borrower shall comply with all the provisions of the tease. If Borrower acquires fee ade to the Property. the �,:��=;=
<br /> : �, .
<br />'"�i leasehold and the fee title shap not merge unless l.ender agrees to the merger in wriung. • �"
<br /> ��`••� 7,Protec�ton of Lendei's Rights in the Peoperty.If Barrower fails to pedorm the covenants and agreements cantained in =
<br /> rt„` � this Security Instrument.or there is a legal proceeding that may significantly affixt Lender's rights in the Property(such as a : :_,•.,. _ =
<br /> •-� proceeding in banlauptcy,probate,for wndemnation or forfciture or to enforce laws or regulations). then Lender may do and � ~�t _
<br /> �r:.� ' ,• ' pay for whatever is nececsary to protect the valne of the PropeRy and Lender s righu in the Pcoperty.Lender's actions may _ _ —
<br />:�.� • . � . include paying any sums serured by a lien which has priority over this Security Instrument, appearing in court, paying ,_ �_.
<br /> �- • • ' reasonable attomeys' fec.w and entering on the Property to make repa�rs.Although Lendee may take action under this paragraph ;......:;
<br /> *� - 7. Lender does not have to do so. � . ..
<br /> .. • � .
<br /> • � � Any amounu disbursed by l.ender under this paragraph ? shall 6ecome addi6onal debt of Borrower secured by this ,
<br /> •. � Security instru�nent. Unless Borrower and I.ender agree to other tcrrtu ot payment. these amounts shall bear interest from the __
<br /> ' � � � • date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Bonower requesting �
<br /> '� .. •. payment. ' �- : �•
<br /> . • • S.Mortgage Lcsun�nce.If Lender requited mort�age insurance as a wndition of making the loan secured by this Security ��: ••.. ,
<br /> "�:. ; �. ' Instmment, Borrower shall pay the premiums required to maintain the mortgage insura.-:ce in effect. If. for any reason, the
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums mquired to .
<br /> • • � obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a wst substantially equivalent to the
<br /> ' .� cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If •
<br /> �: ;
<br /> - � substantially equivttlent mortgage insurance wverage is not available.Borrower shalt pay to Lender each month a sum equal to - -
<br /> . one-iwelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance wverage lapsed or ceased to _ .;; ..
<br /> be in effect. L.ender will accept,use and retain these payments as a loss reserve in licu of mortgage insurance. Loss reserve • .
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