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<br /> _ � �S. Hazard or Property Insurance. Borrower shall keep the improvemei►ts now es�sting or hereaftnr erected on � , , . ;, ,
<br /> the Property insuted aga►nst loss by iire.hazards included nithin the tetm "eatended coverage"end any other hazards.
<br /> � � including floods or flaading,for which Lender reqoires ins�trance-This insurance shall be maintained in the amounts
<br /> � _ and for the periods that Lender tequires.The insurance cartiec providing the insurastce shall be chosen by Borcower ;
<br /> - � sub3ect to I-ender's aPPr°val which shall not be unreasonably withheld.lf Bonower fails to maintain coverage described , ,
<br /> <. _ • above,Lender may,at Lender s option,obtain coverage to pratect Lender's rights in the Property in accordance with �--- ---—
<br /> � ` ParagtaPh 7. � .
<br /> ' ' All insurance po3icies and renewals shall be acceptable to I.ender and shall indude a standard mortgage clause. ` •
<br /> ' Lender shall have the sight w hold the policies and renewala If Lender tequires. Borrower shatl prampt�lt�&�the ' ��� : '
<br /> � Lender all receipts of paid premiums and renewal notices.In the event of lo,�,Borrower shall give promp : ;.;, . <
<br /> ;n s u r a nce ca�rier and Lender.Lender may make proof of loss if not made promptly by Borrower. ' ;� �..,�..: .
<br /> .. � . Unless Lender and Borro�ver othemise agree in writing,insutance pm c e e d s s h a l t b e a p g l i e d t o r e s t o r a t i o n o r r e p a ir ,
<br /> . of the Property dan►aged.if the restosation or repair is economically feasible and I.ender's se�uritY is not lessene�l.If the . ;�`.�_�,�
<br /> . r e s t o s a t i o n o r r e pair is not e�onomically feasible or Lende�s security would be lesseued,the insurance Pr��shalt be ` '�t�,,,,_ `-�
<br /> . . ' � applied to the sums secuced by this Security Instrument,w het her or no t t hen d u e,w i t h a n y e g c e s s p a i d t o H o r r o w e r.If _:;�;;�
<br /> � Borrower abandons th+e Property,or does not answer within 3�1 days a notice from Lender that the insuratece carriec'has , � =;.,-,_�_,
<br /> � offered to settie a claim,then Lender may collect the insurance proce�.l.ender may use the proceeds to repair or M,:.t� ::;..�a-�
<br /> � � restore the Property or to pay sums secured by this Security Instrument,whether or not then due.The 3�day period will : `��:-y.
<br /> begin when the norice is p,iven. `�'�"`T
<br /> ' • . Unless Lender and Horrower ottaerwise agcee in writing,any application of proceeds to principal shall not eatend or :;;.,;�,;,.�,_
<br /> ments refetred to in ParagrePhs 1 and 2 or change the amount of the paqments. � ;,''�'�°_'
<br /> •i postpone the due date of the monthly pay _•-��:;�-__
<br /> � � �' If undes paragraph 21 the Property is acquired by Lender, Borcawer's right to any insus�attce policies and ptaceeds ,�t L
<br /> , � resulting from damage to the Property prior to the acquisition ohall pass to L.ender to the estent of the sums secured bY
<br /> .'t,�,�_:
<br /> . ��,�• this Security Instrument immediately prior to the acqwsition. �f .'
<br /> 6.Occupancy.Pteservation,Mainteneaceand Protectioa of the Property;Borrower's Loan Applicatioa; ��:;_�.b;r�
<br /> •• � I.easehotds.Bflrcower shall occupy.establish,and use the Property as Bonower's principal residence within siaty days , � _� i
<br /> after the eaecution of this Security Instrument and shal! continue to occupy tha Propetty.as Borrower's principal
<br /> • residence far at least one year after the date of occupancy,unless Lender otherwise ag�ees in wnting,which ccrosent ahall ` 4 � y
<br /> - not be unreasonably withhel d,or u n less eutenua ting circumstances eaist which are beyand Borrower's conuol.Borrower , ,'� :; ,��;-`
<br /> shall not destroy,damage or impair the Property,a11ow the Property to deteriorate,or commit waste on the Property. .:.,: ' ,4;:•„�,�-.
<br /> Borrow�r sha11 be in default it any forfeiwre action ot proc�eeding,whether civil or criminal,is begun that in Lender's • �.,,�_.
<br /> . � gaod faith judgment could result in forfeitute of the Propetty or otherwise materially impait the lien created by this o�•,:
<br /> ' ''; Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in ;,.�«;,;
<br /> } paragraph 18. by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith ;,,,r ''�, . ; 'F�,,�ti
<br /> . '� determination,precludes forfeiture of the Bonower's�aterest ia the PropertY or other material impairment of the tien :. ,- �:.,�:,�
<br /> created by this Security Instniment or Lender s security interest.Borrower shall also be in default if Borrowet,during .
<br /> � ' the loan application process, gave materially false ot inaccurate information or statements to Lei►der (ar iailed t° �.." . ,.'•�""''
<br /> • i provide Lender with any material information)in canneccian with the toan evidenced by the Note,including,but nQt >��,r_.
<br /> � ;. limited ta,representations concerning Bonower's occupancy of the Property as a principal residence. If this Security .Y(,:Y,
<br /> � Instrument is on a leasehold.Borrowes shall comply with all the provisions oY the lease.U Bonower acquires tee title to .
<br /> � the Ptoperty.the leasehold and the fee title ahall not merge unless Lertdet agees w the merger in writing. � . �'�;.Q�.
<br /> T.Protection oi Leader's Rights in the Property.If Botrower fails to perform the covenants and agreements • ,.:,,.
<br /> - ,i + �t,.
<br /> 1 contained in this Security Instrument,or thece is a legal praceeding that may significantly affect Lender's rights in the " •,i,,�,�.
<br /> {
<br /> � Property (such as a proceeding in bankcuptcy, probate, for wndemnation or forfeiture or to enforce laws or :,,�L_
<br /> .. . .. regulations),then Lender may do and pay far whatever is nec�sary to pratect the value of the Propertyr and Lendet's ` ,
<br /> ' rights in the Property.L.ender's actions may include paying any sums secuced by a litn whioh has priotity over thia
<br /> � t� Security lnstrument,aQpearing in courc,paying reasonable attorneys'fees and entering on the Property to make repairs. , .
<br /> Although Lender may take action under this paragraph 7,Lender does not have to do so.
<br /> �. �• . . { Any amounts disbursed by Lender under this paragraph'7 shall become additional debt of Borrower secured by this _
<br /> � Secusity Instrument.Unless Borrower and Lender agree to other terms of�syment,these amounta shall bear interest
<br /> fsom the date o4 disbursement at the Nota rate and shall be payable,with interest,upon notice from Lender to Banower
<br /> '�. � � requesting PaYment. •� ,� .
<br /> � g, Mortgage Iasurance.If Lender required mottgage insurance as a condition of matsing the loan secured by this
<br /> Security Instrument.Bonower shall pay the premiums required to maintain the mortgage insurence in effect.lf,for any
<br /> '��•i j reason, the mortgage insurance coverage required by l.ender lapses or ceases to ba in effect, Borrower shall pay the • .
<br /> y..'., premiums required to obtain coverage substantially rquivalent to the mortgage insurance previously in effect,at e cost . . .
<br /> substantially equivalent to the cost w Bonower of the mortgaga insurance pteviously �n effect. from an atternate
<br /> ��'t � mortgage insurer approved by Lender. If substantiaUy equivalent mortgage insurance coverage is not available, . •
<br /> � $orcower shall pay to Lender each month a sum equat to one-twelfth of the yearly mortga$e insurance premium being .
<br /> � paid by Barrower when the insurance coverage lapsed or ceased to be in e4fect.Lender will accept,use and retain these
<br /> payments as a loss reserve in lieu of mortgage �nsurance. Loss rese�ve payments may no longer be required,
<br /> . 1 �� ..
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<br /> � � � form 30 �
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