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<br /> `1 r. " �. S.�ia�rd or Property ins�u�ance. Bozrower shall keep the improvements now eaistu►g or beaeafter erecxed on the Propeicy ' : ' �, . , ..
<br />,' 4 , -insured aga'snst loss by fire,6a�ards included within the team"ex�ded covaage" and any ott�6azazds,mdnding flnods or ,. �
<br /> - flaading,for whic6 Lender rcquims insu:ance.11�is insa�ce shall 6e maumtained in the amomits and for dce peiiods tha�Leader .«
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<br /> _ • �, '.` requses.'tUe Ia�ace curiea pioviding the ins�ancx shari be chosen by Bouower subject to Leuder's appmval wluch s6all not � �
<br /> �J � - -- he u�easo�bly withheld. If Borrower fa�7s to maintain coveaage descnbed above,Lendet may, at Leader's oprion,obtain �`_
<br /> , � .� • coverage tn protect Lender's rights in the Property in acc�dance with paragiaph 7. , - • .
<br /> - -z` ,` - All insuranoe policies aad ceaewats shalt be acceptabl�tfl I.e�ndsr and shaI!mcbuds a standard mongage clavse.I.ender shall ,---- —� =f -
<br /> - . , .� 6ave the right ta ht,2d the policies and renewals.If I.cnder requues,Boaowea shall P��P�Y�'e to Lender all ieceiPts of�id • � �.._�:
<br /> ^_� '.f. ; .1 P�and reaewal nntines.ln the eveat of toss,Botmwer shall give piompt notice to the u�suzance cacrier and I.endra.Le,�der . . .
<br /> _ � T-�- j map mske pmof of toss if not made promptiy by Brnmwed. �:` . ; .
<br /> ' � Unless Ix,ndei and$orrowea oth�wige agree in writing,insur�ce Pmceeds shaill�e applied to�esooratian ar repair of the "•.
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<br /> '` Pmperty damaged,if the restasatian ar repair is economicalty feas�Ie and Lzader's s�auity is not tesseaed.If the restmation or ` .j .•. ..
<br /> ��F �` ' r � repair is not ewnomit�lly feas�ble or Lender's sesauity would be lessened,the msur�ce Pmoceds shall be applied oa the sams �, �.
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<br /> s,. . � � seaued by this Sec�rity Ynstiument,whethea or not thea due.with aay exaess paid m Boaower. If Baaower abandons fhe :; ,`F,, •,.::; <,:
<br /> , � .� Pro�sty,or does uat answer within 30 days a notice 5rom I�enda tUai t6e�aance caaier has offered tn settie a claim,then }� . .«�_?_.
<br /> {.`, ' ' Lendea may wlIeci the ms�aace pmceeds.Ler►der maY nse the piooeeds tn repair or restnre the Propeny a�ta pay sams sec�ed �• �._-
<br /> .'�' . , <�i by this Sec�ity Insuament,whetha or not thea due.The 30-0ay perind w�begin whea the notice is giveea.. . ,.,,�
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<br /> �Y�. , Unless I.eQdcr and Bamwa mherwise agcee in writim8,anY aPPlication of proceeds w princ�pal s1raD notextcnd or postpone • : .�•.;=:_
<br />-,;�: ,. ? the due date of ihe mond�tY Paymea�ts refeired to in p�phs 1 and 2 or CHange the amount of the paryme�ts.ff under pardg�aph , ,
<br />`•`a:�. , �y , �;-�—
<br />= 21 the Pmpaiy is acq�red,by I.eader,Bomnwa s rig6t tn any insutance policies and proceeds resaltin8 from damage ta the ' -°-.
<br /> ,� �.; _ .`; , _—
<br /> �-',,` . ' . �= Pmpcity prior to 1he acquismon s6a11 pass tn Leader ta the extent af ths sums se�ured by this Securiry Inswment immediatcly , �s_:�-`
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<br /> �', I'� prior to the acquis�ion. Bosrower's I.oan ApplicaHon;Leasehotds. --- � ,�--
<br />"�`.. . �= 6.�cc�upaney,Presernattoa,Maintenaace nnd Protettion oi the Pmperty, ':
<br /> � ' Bosrowes sball aaupy,e.stablish,and ase[he Propeity a4 Boimwer's principal residence within sAcy days after d►e execution of , �,�,�
<br /> .� .. . � .. �i ` this Seauity Inst�ument and shaII conanue to accupy the propeaty as Bonowea's pmicipal residence for at 2east one ye�after the .-, . ,�a'�`�`--
<br /> "��� . ` ' date of occupancy.untess LeAd�otheiwise agrees ia wr�mS. wtuch consee�t shall not be�reasonably withheld. or aaless :a��_
<br /> tr: ' � � extent�ating cinatmstances eaist whicb are beyond Sarrower's controL Boimwer sdall not destmy,daznaSe or impair the Anpeny. ' ,r'"s;.-�.
<br /> , , atin . �_
<br /> '-' . altow ttte Pmpe�ty tfl deteaIorate,ar commit waste on the Property.Borroa+a shall be in default if aay forfeiuue action or .;__�
<br /> :. er y _
<br /> r�* . , '_ proceeding,ahether civil or crimmal,is 6egan tLat in Lea�dea's gaod faW�judgment coald res�ilt in fnrfe�ae of the PmpertY ar � i����
<br />=%`�:,: • •. . otherwise�+atrdialty impair tve tiea creatcd by this Seauity lasuumeat or Lendea's sewrity interesL Bamawa may ciue sucb a '``. ::��_-"=-
<br /> � � .. defaWt and re�te.a4 Fiovided i�para�aph 18,by causing the acaon or pmceeding w be dismissed aith a:alm8 tt�at.in . ;-J--
<br /> - �� Lender's gaod faith determmarion,prectades forfeiwre of the Borrower's int�est in the Properiy or other material impaamea►t of ��:`:�.;,�-
<br /> '�'•' � the lie�a cxetued by this Seauity Insavmcnt or Lenda's seauiry iritere.st.Bomnwea shall aLso be in defanit if Borcowed,daring the . _,.:;�.
<br /> �. . �. . Ioan applit�tton process.gave mateaialty fa]se or inacc�uate infom�alion or stateanents to La►ded(or faited to provide Lender with , :,- . _
<br /> ;'� _- any matQrial mfoimation) in wnnection witb the Ioan evidenced by the Note. mcludmg.but not limited to. representations ." . - -�
<br /> aq a resdence.If this Security Instrument is oa a Ieasehold.Bmrower � :'��-'
<br /> � concemu►g Boirowea's accupancy of the PmP�Y P�� •,, �,:;,�^�_
<br /> . . shali comply with all the gmvisions of the lease.If Bormwer acquires fee title to the PrapeAy,the l�sehotd and the fee fltle shaU �,...
<br /> � ' not merge ur�ess Lender�grees w the merger in wripng. '.. � '-".
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<br /> � : 7.Protedion oY Leader's Rights in We Praperty. If Bmrower fails to p�form the wvenants and agceement�contained in . �__,
<br /> � . � � '. tLis Se�auity Inst�ument,or there is a leSa] Pmc�ediAg that maY�S�cantly affect I.endea's rights in the pmperty (such as a . - . • :-:�-
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<br /> � . proceeding in banlaupuy,probate.for condemnation or forfeiwre oz w enforce taws or regutations),then Lander may do and pay � � ,, �.
<br /> - - for whatever ig aeces.9ary ta protect the vaine of the Pmperty and Lender's rights in the Property.L.ender's actions may incIude _ ' , _ •_'�--.
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<br /> , ' .� � PaY�B �Y �ns secured by a lien arhich t�as priority over this Sec�riry Instnm�ent,appearing in coun,FaYinS reasonable , �
<br /> attomeys'fees and entering on the Prapeaty to make repaira.Although Lender may take aqion under this paragraph 7.I.e�der .. .. .
<br /> . ` does not have to do so. ,.
<br /> . � AnY amounts disbursed by Lender under this paragrapb 7 shall become additional debt af Borrowex seaued by this Se�uity � � .
<br /> �. . . Instrumcn�Untess Borrower and Lender agree to other tenns of paymcnt,t1►ese amounts shall beaz inLCrest from the date of %
<br /> • "' disbursement at the Note rate and shall be payabte.with interest,upon notice from L.ender to Boaower requesting paymen� . _ .
<br /> � S.Mortgage insurance. If Lender required mortgage insvzance as a condidon of malcing the toan seciued by this Security � ,
<br /> . • Instrument, Borrower shaU pay the prcmiums required to maintain the mortgage insurance in effeq. If,for any reason. the �. . .
<br /> � ' mo:tgage insivance coveaage required by Lender tapses or ceases w be in effect,Boaowea shall pay the premiums reyuired w � . .
<br /> • � i obtain wverage substantially equivatent to the mortgage insurance previousiy in effect,at a cost substantialJy equivalent to the .
<br /> •• . . � `• cost to Borrower of the mortgage insuranee prevlously �effect, from an altemate mortgage insnrer approved by Lendar. If
<br />. . ' � substandally equiva�ent mortgage insurance coverage is not available,Borrower shall pay to I.ender each month a sum eqnal w � .
<br /> • on�twelfth of the yearly mortSaSe insurance premium being paid by Borrower when the insuranee coverage lapsed or ceased to
<br /> .� be in effect. l.ender will accept,use aad retain these paymenis as a loss resave in lieu of mortgage insurance.Loss reserve . � , �
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