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<br /> , ' ' • S. Barard or Yc+operty r�.�.�+�o� Bor�ower shail keep the improvemenu now ea'sting or hereafter e�ted on the �'.j:'... ;.
<br /> . Property insured against loss by fire,hazazds included arithin the term 'eactended coverage' and any other hamm�ds. including . � "
<br /> ' - floods or floading,for whirh I.ender requires insurance.This iasurance shall be maintained'm the amounts aad for the periods _ _<._..,. ,._. __ ,
<br /> -- -- [hat Lender reqtrires.The insurance rarrier providing the insnrance shall be chosea by Bomower sublect w Lender's approval _: _
<br /> wiuch shall not be unreasonably withheld if Banower fails to ma;nram coverage descn'bed above, Lender may, az Lender's ,
<br /> � -- option,obtain coverage to protect lender's rights in the Property in accoTdance vrith parag�aph 7. • � ' .,
<br /> , ' , pll insurance policies aad renewals shall be acceptable to I�nder and shall inctude a standard mortgage claase. L.ender _ .- �
<br /> ` . shaU have ihe right to hold the policies aad ienewals. If I.ender tequires,Borrower shall pmmptly give to Lender all receipts of .. . `::��`.--.
<br /> .� � paid premiums and ienewal aotices.In the event of loss,Borrower s6a11 give prompt notice w the;++�,*a„ce carrier and I.ender. , � ..� .E;,.:
<br /> : � Lender may make graof of loss if not made pmmpdy by Borrower. ' '` " .. t
<br /> , � , � � Unless Lender aad Bormwer otheta+ise agree in writing,insurance proceeds shall be applied to restoration or repair of tbe • - ., ,
<br /> • ' j property damaged,if the restoration or repair is ecoaomically feas�le and Lender's security is not tessened.If the restoration or .
<br /> � repair is not economically feasible or l.ender's seauity would be lessened,the insurance proceeds sha11 be aPPlied to the sumc -. :. .:�- �'
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<br /> secuced by this Security Insuumeat, whether or not then due,with any excess paid to Bornuwer. If Bormwer abandons the =--
<br /> '" Property,or does not answer within 30 days a nodce from I.ender that the insurance canier has offered to seule a claim,then • :` . :' -
<br /> ��= ., � `:. „
<br /> Lender may col3ect the;,����nce proceeds. Lender may use the pmceeds to repair or nesmre the Propeny or to pay sams ••� .�� •,
<br /> . secured by this Secarity I�trument,whether or not then due.79ie 30-day period mU begin when the notice is given. �'` � :-�
<br /> - , ,. �_ UNess Lender and Borrower otherwise agee in writing, an3+ agFlication of pmoe�ds to principal shali not extend or - • . ., ' � "—
<br /> ..-,5'.�. :.�._4'__
<br /> � , � - postpone the due date of the monthly payments refernd to in paragraphs 1 and 2 or change the amount of the paymenu. If ___ ___
<br /> . . under paragraph 21 the Property is acquired by 1.ender,Borrower's right to any insutance palicies and procecds resulting from _-
<br /> . • � damage to the Properry prior to the acquisition shall gass to Lxnder to the extent of the sums secured by tivs Se�vrity „" t �,��".� —__—
<br /> ' � � • immediateiy prior to the acquisition. � ��'•`
<br /> . . . 6,pccupancy,Preservat�on,Mainteaance aad Pmtection of the Progerty,Borrower's I.oan App�dcatton,Leasehotds. _':5,;:''�'�,_��
<br /> Borrower shall occupy,establish,aad use the Propercy as Borrower's principal�+esidence arithin sixty days after the execution of - . �.�;::;�
<br /> �,y g�ty r„ �m t�sha11 wntiaue to accupy the P�+nperty as Borrower's principal residence for at least one year after -_
<br /> `� � • the date of accupancy,nnless Lender ottteiwise agrees in wriqng,which cansent s6aU not be unreasonably withheld,or nnte$s =_
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<br /> :,`; ` exteuvating cinvmstances e�rist wluch arc beyond Borrower's control. Borrower shall not destroy, damaSe or impair the .,.�:.;.�,..
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<br /> � Property, altow the Property to deteriorate.or commit waste on the Property. Boaower shall be in default if aay forfeiture : ..;,-:_,�
<br />:�l . �. �•� action os pmceeding,whether civil or criminal, is begun that in Lender's gaod faith judgment wuld resWt in foifeiture of the . .;; :�����
<br /> :.�� Fropercy or othervirise materially impair the lien cceated by this Securiry lastr�ment or Lender's securiry inte�rest.Borrower may :.� .�-
<br /> h 18,b causin the action or roceediag to be dismissed with a ;`��'
<br /> ' ' ` cure snch a default and reinstate,as provided in paragrap Y S P �g ° • ,,:-:,�"
<br /> ' • =-i that,in Ixuder's good faith determinatian,Precludes forfeiture of the Borrower's interest in the Property or other materlal � ��r:'f-L..',,_-
<br /> ' � impairment of the Gen created by this Security Insuument or Lender's security interest. Borrowes steall also 6e in default if � ' . �ti:��
<br /> . �_�. -.�-��.
<br /> Borrower,during the loau applicarion pmcess,gave materially false or inaccurate iaformaaon or statemea[s co Lender(or failed � . -��t_
<br /> • „ � to provide Lender with aay material iaformation)in connection witb the toan evidenced by the Note,including,but not limited , �>=�-
<br /> to,representations conceming Borrower's occupancy of the I'roperry as a principal residence. if tLis Security Insnument is oa a " "�:::�
<br /> � � `�� leasehold. Borcower shall comply with all the provisions of the lease. If Bor�wer acqnires fee title to the Property, the •. �:. �'�_
<br /> . leasehold and the fee utle sha11 not merge unless Lender agrees to the merger in writing. �' ��--
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<br /> 7.Protectton of Lender's Rig6ts in We Property.If Boaower fails to pe�t'orm the covenanu and agreements contained in . .:.;�;
<br /> � this Securiry Instrument, or there is a legal proceeding that may signiRcantly affect Ixnder's righu in the Froperty (such as a ••
<br /> - • • proceediag in bankniptcy,probate, for condemnation or forfeiture or to enforce laws ar regulations). then I.ender may do aad � ; . ,
<br /> pay for whatever is necessary to protect the value of the Property and Lender's righu in the Property. Lender's ac[ions may .
<br /> . .` � • include paying any suias secured by a lien which has priority over this Security instrument. appeazing in court, paying , : :. .
<br /> rea4onabte attomeys'fees and entering on the Property to make repairs.Although Lender may take action uader this paragraph • .
<br /> .� ' � � 7.Lender does not have to do so. ,;
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secured by this • • ••
<br /> � . Security Instrument. Unless Borrower and Lemier agree to other terms of payment,these amouau shaU bcar interest from the : , �
<br /> • date of disbursement at the Note rate and shall be payable,with interest. upon notice from Lender to Borrower requesting . .. • .
<br /> . payment. .
<br /> " �.Mortgage Insurance. If Lender required mortgage insurancc as a condition of making the loan secured by this Security . .
<br /> Instrument, Borrower sha11 pay the premiums required to maintain the mortgage insurancc in effect. If. for any reason, the �
<br /> • . . mongage insurance coverage required by 4ender lapses or ceases to be in effect.Borrower sha11 pay the premiwns requited to . •
<br /> ' " obtaln wverage substantially equivalent to the mongage insurance previously in effect.at a cost 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 /> substantially equivalent mortgage insurance coverage iy noi available.Borrower shal�pay to Lender each montti a sum equal to �
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to , � . •
<br /> . be in effect.Lender will accept, use and retain these paymenu as a loss reserve in lieu of mortgage insurance. Loss reserve ' '
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