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<br /> � �7.� 10�07� . '� .
<br /> � � �*,HInP!�rd�r H�ro�erty Ensurenee. Borrowcr shall kcep thc improvements now existing on c�rcaftcr crccted on thc Properiy '`��� _
<br /> � insured agei►►st loss by flre. hazards included within the tem► "eatended coveragd' and any other hezards,including flaods or ' :,.
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<br /> 1 flooding, for wh(ch Lender rcquims insw�ance. 'il►is insurancc ahall ba maintained in the amaunts and for thc periods that Lcndcr .�x�;:;
<br /> r e quires.'Tt�e insurancc c�urier providing the insurance shell be chosen by Borrower subje�t to L.ender's approval which shall not
<br /> UT
<br /> + bc unreasonably withheld. If Rorrower fails to m a l n t a in coverage d r s c d b e d a b o v e, L e n d c r m a y, a t L e n d e r's o p d o n, o b t a in . ,
<br /> , � coverage to protect Lender's rights In the Property�n eccordar►ce with paragraph 7. . _
<br /> All insuranGe poltcies and renew�ls s�t�ll be accePtable to Lender and shall include a st�►ndard mortgagc cluuse.Lender shall
<br /> have the r�ght to hold the policies ar.d re�swals•If Lender requlres,Borrower shall prompdy give to L.ender all receipts of paid _'�,,ry,'v:.�
<br /> , premiums and renewal nodces.In the eve:s¢of loss,Borrower shall give prompt nopca to the insun+nce carrier and Lender.Lender , ;y_:�,�,,,.,__
<br /> may make proof of toss if not made prompdy by Borrowcr. :`�`"_
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<br /> Unless Lender and Borrower otherwse agree in wdfin8. insurance proceed%shaU be appGed co restorabon ar repair of d�e r::,��- -
<br /> ptoperiy damaged,if the restotadon or r�pair is economically feasible and Lender's security is not lessened.If d�e restoration or =,�,_
<br /> � repair is not economically feasible or Lender's securiry wonld be lessened,the insurance proceeds shall be aPPlled�t�e sums _�;_
<br /> � securcd by ti�is Security Insavmcni,whether or not then due, with any cacess paid to Horrower. If Borrower abandons the :'W'_ - __
<br /> ' property. or does not answer within 30 days a notict;from Lender that the insurance casler has offered to settle a claim,then •• , ;�
<br /> � Lender may coAect the insurance proceeds.I.ender may use the proceeds w repair or restore the Property or to pay sums secured � �;"`
<br /> by this Security InsUument,whether or not ihen due.'Ihe 30-day perial will begin when the nodce is given. ,..t��H�.•:
<br /> Unless Lender and Borrower othenvise agree in wridn8,�Y BPPlicadon of proceeds to principal shall not extend or postpone ;.� ._
<br /> the due date of the monthly payments referrecl to in paragraphs 1 and 2 or change ihe amount of the payments.IF under pucagraph `�'° �T�
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<br /> � 21 the Property is acquued by Lender, Borrower's right to any insurar►ce Policies and proceeds resulting from damage to the - .;�
<br /> � property prior to the acqutsidon shall gass to 1.ei►der to the extcnt of the s�uns secured by this Seciuity Instrument immediately ;�:�
<br /> prfor to the ucquisiaon. , ::::�`^�
<br /> , � • 6.Oocupancy,Preserv�►tion�A'Iaint�enance aa�d Protectbn of t�e I'roperty; Borrower s Loan Application;I.easeholds. ,;,:r��';:��'�� ;
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<br /> i Botrower shall occupy.establish,and use the Propeny as Borrower's principal residence within s'vcty days after the eaec�+don of °�;�S+R,,:f.:• rti•
<br />_..__._. �,_,,.� ����.��In���,z��ws.�y,.,�,,,,�,�P���r„�y the Pronerty as Borrower's principal residence for at least one ye�u afcer the ,
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<br /> date of occupaucy,unless Lender otherwise agrees in writin8. Whlch consent ahall not be unreasonably withheld, or unless „�•�� t,: �.'�_
<br /> eat,enuating citcumstances exist which are beyond Borrowec's control.Borcower shall not destroy,damage or impair the Pcoperty, . „ _
<br /> � allow the Peoperty co detesiorate, or commit waste on the Property. Bormwer shall be in default if any forFeiture acdan or -�
<br /> proceeding,whether aivil or criminal,is begum that!n Lender's good faith judgment could result in forfeiture of the Property or � ;
<br /> o�he�,ise material(y impair ttw Uen created by this Securtty Inshument or Lender's security interesG Soirower may cure such a � �
<br /> . default and reinstat�e. as providcd in para�aph 18.by causing the action or proceeding to be dismissed with a niling that,in -
<br /> . L,endu's good faith determination,Prccludes forfeiture of the Borrowcr's inter�st in�he Property or other materl�l impairn►e�►t of =
<br /> the llen caated by this Secarlty Instrument or Lendu's security inceres�Bexrowu shall also be in default if aocrowu,during the ,
<br /> loan epplic�on proc�ss�Bave matarially feLse a inyccurate infom�ation or stet�ements to Lcnder(or failod w pmvide Lender with,
<br /> eny mateiisl inftxmatton) in connxdon with 1he loan avidonced by 1hc Nou, inctuding, but not Wnited W, re�ptcsentations : .
<br /> concerning Boma�u's occupancy of the Prope�ty�s a Qrincipat residenca.lf this Security Instrument is on a kasehold,Bormwer
<br /> shall comply with all the provisians of the Icasc.If Borrower ecquires fee dtle to tha Propercy.tho teasehold ond the fec tide shaU ;��,y
<br /> not merge unless Lender agrees to the mP.rger in wridng. -�
<br /> 7.Protectbn of Lender's Wghte[n tMe ProPertY. If Borrower falLs W perfotm!he covenants and agrecments c�onteit�d�n '`�.�•�
<br /> • this Securicy Insuument,or there is a legal proceodln8 that may significantly affect Lenda's rlghUS in the Property(such ag a -
<br /> '. pmcoeding in bao{rcuptcy,probate,for condemn�tion or forfeiwca or to enforce I�ws or regalarions).then Lender may do end pay : ._
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<br /> for whataver is necessary tn protect the vnlue of the Propeity cu�d Lender's niBhts in the Property.Lender's asdons may include ;��:_
<br /> _ paying any sums secured by a lien whfch ha� priority over this Security Instrumert� appearu►� in ccwrt. Pal►in8 reasonable �;�,;;_ —
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<br /> � � aitomeys' fces and entering on ihe Property to make repairs.Although Lcnder may take action under this paragraph 7.I.cnder �--
<br /> does not have w do so.
<br /> ; pny am�wnts disbursed by L.ender under this parr,graph 7 shall become addidonal deM of Bonow�secured by this Security ,:',��,_r.
<br />' InsuumenG Untess Bocmwer and Lender a�ea ¢o other tem�s of payme�►t, these amounis shall bear inte�est fmm the date of — ----
<br />- disburscnKnt at the Nous rate and shal!bc payable.with intcrest,upon nodcc from Lender to Boaowcr requestin8 PaYmenG :—�.____�
<br /> 8.Mortgage Iasurance. If Lender requiced mort�age insurence av a condiuon of making the loan socured by this Security ='������:-
<br /> Insinu��er�t, Bormwer shall pay the pm,�niums r�q u i r e d to ma'sn t a i n t h c m o rt g a g e i n s t u a n c e l n e f f e c t I f, f o r e n y r e a s on, t he -�-���`''
<br /> mortgagc insurance coverage reqnired by Lendcr lapses or ceases co be in effect, Borrower shall pny the prcmiums requircd to "�
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<br /> obraii►coverage substanpally equivalent w the mortgage insurance previously in effec�at a oost substantially equivalent to the ,�s��:�..�: "+'�-:
<br /> cost to Bnrrower of the mortgage insuranco previously in effect, from an altemate mortgage insurer approved by Lender. If .'��r.'' ..',•''^<'`
<br /> substantially equivalent mortgage insurance coverage is not available.Bocrower shall pay to Lender each month a sum equel to _ ,. -
<br /> � on�twelfth of the yeariy moctgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to - . �
<br />- be in effecG Le��der will accepb use and r�tain these payments as a loss resecvc in lieu of mortgtjge insurance. Loss reserve
<br /> Form 302t Ot�O
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