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<br /> ' � ��-- 1(�i303 ��
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<br /> 5.Hazord or Property Insur�na. Borrowcr shall kc�p ihc impr�vcmcn�s now cxisung on c�rcaftcr crected on thc Prapeny , �-
<br /> , insored agninst loss by Cuc, ha�ards includcd within thc tcrm"catcnded covcragc" and any othcr ha•r.ards,including floods or
<br /> iflooding,for whlch Lendcr requacs inswance.'I'Y►is insuranc..sh311 bc main4vncd �n thc amoun�g and for thc periods that I.endcr
<br /> 1 requlres.'Ilie insurance carder providing the insurance shall be chosen by Borrower subject to I.ender's approvul which shall not
<br /> be unrcasonably withheld. If Borrowcr fails w maintain coveragc described above,Lcndcr may, at Lender's opdon. obtain
<br /> � coverage ta protect Lender's dghts in 1he Property in accordance with paragraph 7. _
<br /> pu insurance poGcies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.Lender shall
<br /> have the right to hold the policies und renewals.If Lenda requ'ucs,Borrower shall ptompdy give to Lender all reccipts af paid , �
<br /> premiums and renewal notices.In the evcnt of loss,Borrower shalt give pronipt notice to the insurance carrier and Lender.I.ender
<br /> may make proof of loss if not madc promptly by Borrower, li��r���on or repair of the . •
<br /> Unless Lender and Borrower othenvise agroe in wri6n8�insurar►.ce Procee�ls shall be app'
<br /> properiy damaged,if thc restoration or repair is economically feasible and Lender's security is not lessened.If the restoracion or �ru�
<br /> repair is not economicaUy feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums .��„—_._-_
<br /> secured by th�s Security Instrument, wliether or not thcn due, with any excess paid to Borrower.If Borrower abandons the .. � �:.
<br /> property,or does nat answer within 30 days a notice from Lender ihat the insuranr�e carrier has offered to scttle a claim,then -,�;,r;;_�
<br /> Lender may wllect the insurance proceeds.Lender may use the procecds to repair or restore the Property or to pay sums secured 3.__�._..=_--
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<br /> by this Securiry Insuument,whether or not then due.The 30-day period will begln when the notice is given. ��_
<br /> Unless Lender and Borrowcr othcrwise agrec in wripnB.anY aPPllcadon of proceeAs to principal shall not extend or postpane „
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<br /> the due date of the monthly payments refetred to in paragraphs 1 and 2 or change the amount of the payments.If under paragraph x�i:;.
<br /> 21 the Property is aalui��1 bY I.ender,Bonnwer's right Lo any insurance policies end pracee�ds resulting from damage to the
<br /> properry prior to the acquisidon shall pass to Lender to�he extent of the sums secured bY this Security Instr�ment immediately �.,. . ��
<br /> Y priar to the acquisidon. ;'. .
<br /> 6.OccupAncy,Preservation,M�intenance and Protection ot We Property; Borrower's Loan Applicatlon;I.escseholds.
<br /> � � Borrower shall occupy.�s�b�h.and use the Property a�Bocrower's principal residence.witY►in sixty days after the execudon of
<br /> � ° �his gecnrity Insuument and shall continue to occupy the Property es Borrow+er�s principal residence for at least one year after the :;;
<br />- � arP�f �ccunancy. un less Lender otherwise agrees in writ�►g+ which consent sh�ll not be unreasonably withheld, or unless - ;,,�. .
<br /> extenuattng circumstances eacist wl�ich are beyond Borrower's coniroi.Born�wei st�aiS rc.�w"u'a��dasnsee or imFai-•'-hP��?�":'; ;:
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<br /> allow the Property to detertorate,or commit waste on the Property. Borrower shall be in default if any forfeiture action or t_..,�,� r�
<br /> proceeding,whether civll or criminal.is be8un cha�in Le�►der's good feith judgment could result in forfeiwre of the Property or •,?` ,,
<br /> oW�,ise me�ialiy impair the llen created by this Security Instmment or Lender's security interesG Borrower may cnre such a •F� ,,
<br /> default and reinstate. �s providecl in ParnB�Ph 18, by causing ihe acdon or proceeding eo bc dis►►►issed with a ruling ihat,in ' I �
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<br /> ' Lender's good feith deteiminadon,Precludes forFeiture of the Barro��B �e �����defa t if Be o�n'owe pducing the }, �' �
<br /> the uen crea�ed by this Se�urtty Instrument or Lender s securiry mte �
<br /> loan application process.Save matuially false ar inaccurate lnfomwdon or statements to Lcnder(or failed to provide Lender with , _
<br /> any maierinl infom�edon) in connection with the loan evideaced by the Note, including, but not limiud co, representations
<br /> conceming Borrower's occupancy of the Properly as a princi�al residence.If ihis Security Ins�wnent ix on a leasehold,Borrower :
<br /> shall comply with all tha Provisions of the lease.If Boirower acquires fee dde to the Property,the leasahold and the fee title shall .�,r __c�
<br /> not merge unless Lender agrees tc�the merger in writing, . - %�=
<br /> 7,pmtection ot Lender's Ri�hts in the Property.If Borrower fails to perform the covenants and agreements contained in _,__�
<br /> chis Securlty Instrument,or there is a legal proceadinB that may significandy affect Lender's rights in the Property (such as a _::�.,.:.
<br /> proceeding in bankcuP�Y•Frobate,for condemnadon or forfeiwre or to enforce Iaws or regulations),then Lender may do ansl pay _ _ -_ ..
<br /> for whatevei is necessary to Pratec�the value of the Property and Lender's rights in the Property.I.ender's acdons may include _�
<br /> , �. paying any sums secured by €+ lien which hes prioriry over this Security Instrument, ePP��B in cowt, PaYing masonable --�-----
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<br /> atwmeys' fers and entering an the F'ropercy to muke repairs. Alihaugh Lender may t�lce acaon under this paragraph 7,Lender ,, ,;;�,�F
<br /> ' does not have to do so. ;��:�_;���
<br /> • Any amounts disbursed by Lend�under this parag�aph 7 shall i�ecome addidonal debt of gorrower secured by this Security ,.r,,„
<br /> InstrumenG Unless Aormwer and Lct►der�gee eo alher �e�s of payment,these emounts shall bear interest frort�thc date of �r ....�.�
<br /> disbu�sement at the Note rate and shall be payablc,with interest,upon nouce from Lende.r to Horrower requesting payment '�`���
<br /> S.Mortgage Ioswance. If Lertder required mortgage in�urance as a cortdidon of maldttg the loan secured by this Security �,y�_r-��=�.:f=;�`•'-=
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<br /> � Inswmeat, BonoWe�shall pay the premiums requir¢d to maintain the rnoctgage insurar►ce in effecG If. for any reason�the , ;rv.:�.� ��_.
<br /> mongage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to �;' . .,
<br /> obtain coverage substantially equivalent to die mortgege insurance previously in effect,at a cost substantiaaUy equivelent W the •
<br /> cost to gorrower of the mortgage insurance previously in effect, from an altemate miongage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage i�not Available,Borrower shall pay to Lender each month a sum equal to �
<br /> one-twelfth ot'the yearly mortgage insur�nce pm.rt►fum beinB Paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effceG Lender will accePt,us�a�►d re�i�►these PaY�°ents as a loss reserve in lieu of mongage insurance. Loss reserve •
<br /> Form 302a 9190
<br /> �-8R(NE)(ozt2�.ot Pay�3o18 inmuc . . _
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