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<br /> � � - S. Hazard or Property lasuramce• Borrower shall keep the improvements now e�cisting or hereafter esected oa [he �
<br /> . pr,operty insured against loss bY fire•h�s iaduded within the term 'extended,coveraSe�aad anY other hatards,iaclnding c_ ••
<br /> - tloods or flooding,for which Lender recNires insurance.This insurance s6a11 be maintained in the autounts and for the periods ' .
<br /> <.�.
<br /> _ ' that Lender nquizes•'Itie ins�rauce�er providing the insurance shall be chosen by Bormwer subject to Lender's appmval _
<br /> -- ,- wluch shall not be unreasonably withheld. tf Barrower faiis to maintain coverage descn'bed above. i.ender may. az I.ender's �`�
<br />_ ., option,obtain coverage to protea l.eader's rights in the Property ia aocordance with paragtaph 7- ` .,`
<br /> AU insivaace policies and renearals shaU be asxeptable to Lender and sh�ll include a standard to L.ender all rece�of . . .
<br /> . shall Itave the rig6t to hold the policies and renewals. If Lender requires,Borrower shall�mm�the insurance carrier and Lendet• . �� _•,: ..',(.,
<br /> . paid premiums and reaewal nodces.!n the event of loss.Bormwer shaA give pmmpt --. .'. 4- ` .
<br /> � � Lender may make proof of toss if not made prompdy bY Borrower. , t°'
<br /> � � . Unt�s Lender and Bomower othervrise agree in wriring,insurance Proo�ds shall be applied to rescorarion or repais of the :::_: ,
<br /> �. : �' � p�p�ty damageci,if the restoruion or repair is eoonomicaUy feasible and Lender's seauity is aot lessened.If the nstoration or �� ,
<br /> shali be applied to[he sumc w
<br /> • repair is not economi c a l ly feasibte or Ixnder's securit3►would be lessene4 the insurance pmceeds ";`y�;
<br /> �� � secured by this Secutit3► InstrumE°t, whether or not then due, wit6 any e�cc�ss paid[o Bomawer. If Borrower abaadons t he : _-
<br /> cut
<br /> �'- property,or does not amswer arithin 30 days a notice from Lender that t6e insurance cazrier has offered to settle a ctaim,then ,
<br /> ', � , use the mceeds to iepair or testore the PtopertY or to pay svms —
<br />-' � . L,ender may collect the insurauce pmceeds. Lender may P �the nouce is ven. �
<br /> `� � � se+aaed by t6is Security Iasavment,whether or aot then dne.The 30-day period will begin & •.`�--
<br />_�; ' ' Unless L�ender and Borrower othe�vvise agree in writing, aaY aPPlication of procxeds to principal shall not eatend or ; --
<br /> �i:!; .�•�_ ... . a re f e r t e d t o i a p a i a g r a P L s 1 a n d 2 o r c h a n g e t h e a m ount of the pa y w�n�s. If • ,•_.`_
<br /> :h_ .. _ - Postpoae the due date of the momhlY P Y�� • licies�d proceeds resWting fmm �--, � ` �_��
<br /> i_.. ` , u n d e r p a r a g r a p h 2 1 t h e P r o p e n y i s a c q u i�e d b y Lender,Borrower's right w any uis�rance Po .
<br /> . �� uon shaU ass to l.ender to the extent of the sums s e c u r e d by t h i s S e c u r i ry t n �,n e n t ;;;�=�_
<br /> s;: . . �',,' damage to the Pcopetry priar to the acquisi� P ; � �_
<br /> ' .' i m m e d i a te ly p ri o r w t h e a c q u i s i ri o n. Bomower's Loaa App H c a t Foa:I.e a s e h o l d s. � �� �- �
<br /> �,:. .. . -:�. 6.Q c x u p a n c Y+P r e s e c w a t t o n,Mainteaance and&'r�tectIon of the Properiq; s a ft e r t h e e x e c u t i o n o f ,. . ,°'�.
<br /> �,� . � . Borrower shaU ocxupy,e.�tabtish,and use the Properey�s Borrowe�s principal resi dence ari t h i n s i x t y d a y
<br /> thi .
<br />- �� . t6is Securit3+Insuvmeat and s6a11 continue to oca�y the Prope►ty as Borrower's principal residencc for at least one yeaz after :.•s•:�'
<br /> �'� the date of occupancy, unless L e n der o t herwis e a g r e e s ia writin g,which consent sholl not be unre�asonably withheld.or unless � ' .�;�„'
<br /> . , °C OT 81T $18 : r �, �.,�;..-.,,.;n..
<br /> ����g �ir�mstances e�ust wtuch are beyond Borrower's conuol. Borrower sha11 not desuoy. dam�, �P � . ;_ . ����.�
<br /> Bonower shall be in defani�ff any forfeiture 4 ;
<br /> . . Pmperty. allow the Propersy[o deceriorate,or commit was[e on the Property. ,• � { .---_
<br /> . . whet��civil or criminal,is begun that in lxader's gaod fait6 judgment could result in forfeiture of the ';.�, :
<br /> aaion or proceEdin&• th t
<br /> � •, pmPerty or othenvise materially impair the lien created by this Securnay Insuument or Lender's security interest.Boaower may .. ,. •�.�`=
<br /> .. cure such a defaulc and reinstate.as pro -r° in ParaSraPh 18.by caussing the action or praceeding to be dismissed with a cu9"� t,;',�,.
<br /> ac
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<br /> tt�at, in I.ender's good faith determination, Precludes fotfeiture of tYte Borrower s interesc in the Property or other rnaterial - ;: _
<br /> . • � impairment of the lien creaied bY this Serucity jn��ent or Lender's securiry interest. Boaower s1�a11 a1s�6e in default if 4.`�-
<br /> Bo r r o w e r,d u r i n g t h e l o a n a p p l i c a a o n p rocess.gave materiallY false or inaccurate inforniation or statements to Lender(or failed E� _
<br /> �.' .,.,:-
<br /> � • � to provide Lender with auY mzterial inf°r��ion)in connection with the loan evidenced by the Note.inc lu d i ng,b u t n o t l i a u t e d . _..,_�
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<br /> to,representations e o n e e t n i n g B orrower's occu pancy of the Property as a principal residence.If this Sewriry Insuument is on a :•.,�,__
<br /> � leasehold, Borrower shatl comply with a11 the provisions of the lease. If Borrower acquires fee ritle to t he P r opercy, t he . , i�--
<br /> leasehold and the fee dtle s�ail not merge unless L.ender agrees to the merger in writing. ��A��� ':.,:,';
<br /> ' � 7,protection oY Lca�ids Righis in the Property.lf Borrower fails to perform the covenants and agreemen ,;�.: __
<br /> . � tbis Security In.mument,or there is a legal proceeding Wat may signi6candy affect Lender's righu in the Property(such as a ,,_,.;.�.. . �z
<br /> , • proceeding in bankruptcy. probate, for condemnation or forfeiture or to enforce laws or regulations).then Lender may do aad _; ,i_;.',,
<br /> ' pay for whazever is necessatY to protect the value of the Property zed Lender's rights in the Property. Lender's actions may �,
<br /> .'•� � � � include paying anY sums seciued by a lien which has prioriry over this Security 1nstNment. appearinS in coun• payi°g
<br /> �;.,., .
<br /> reasonable attomeys' fees and entering on the Properry co makP repairs•Althongh Lender may take action usder this parag�ap� . .
<br /> '��' . . � � 7,I.ender does not have to do so. , .
<br /> ' , Any amounu disbnrsed by Lender under this paragraph 7 sha11 become additional debt of Boaower secured by this
<br /> "'�'�,� Security Instcnment. Unless Borrower and Lender agree to other terms of payment.these amouau shall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Bosrower requesting � .
<br /> �t,
<br /> ` .r �� „ payment. � :.
<br /> , S.Rqortgage Inswance. If Lender required rnortgage insurance ac a condition of making the loan secured by this Security ��r� �,
<br /> •• lastrument. �orrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> ' � mortgage insurance coverage required by l.ender lapses or ceases to be in effect. Borrower shall pay the premiums required to .
<br /> '"�� ` • • • obtain coverage substancialiy equivalent to the mortgage insurance previousty in effect,at a cost substantially equivalent to the
<br /> � ., cost to Borrower of the mortgage insurance previously in effect. from an altemare mortgage insurer approved by Lender. If
<br /> � ,.� substantially equivalent moagage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to
<br /> ' � ' one-twelfrh of the yearly mongage insurance premium being paid by Bonower when the insurance coverage lapsed or ceased to
<br /> ' • be in effect. Lender will accept,use and retain these payments as a toss reserve in lieu of mortgage insurance. Loss reserve
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