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<br /> . � . ` v. . the insur•u►ce�hall be chosen�by ��w��l� � ��' ,
<br /> ' periads that Lender reyuires. The insurance carrier pm �dmg , . �
<br /> = , ' approva!which shali not be unreasonably withheld. If Bor[ower fail�to maintain coverage deu�rihed above,Lender may,at `,o.:
<br /> - . Lender's option.obtain wverag�to protect Lender's rights in the Pn�perty in azcordance with paraera�sh 7. '`:<� : s ��
<br /> ' -- All insurance poticies and renewals,hall 6e acceptable to Lender and shall inciude a�t:mdard mortgage etause. Lender , , , . ,
<br /> � ` .—'�t'"'`� �hall have the right ta hold ihe policies and renPwals. If Lender tequites.Borrow•er sfiall promptly give to Lender all rcxeip�+ ;; ,: ,
<br /> ` ' of paid premiums and renewal notices. In the event of loss,Borrower shall give prompt nouce to the imurance carrier;ind
<br /> � � Lender. Lender may m:rke proof of loss if not made prompdy by Barrawcr. . �-
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<br /> . • � Unless Lender and Borrower otherwise agree in u+riting,insurrnce proceeds sh�ll be applied to mtoration ot repair af
<br /> . • � ' the Froperty damaged. if the restoration or repair is economically feasible and I.ender's .ecurity is not lessened. If the �' � �� �:: �.' �,,`
<br /> ' ' • '� . restorarion or iepair is not economically feasible or Lender's security �vould be lessened. the ia�ursnce proceedy sha11 be ._
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<br /> � ` �� appleed to t6e sums secured by this Secnrity Ittstnimeat,whether or not then due,with any excess paid to Borrower. If ` l,. �
<br /> . ' Borrower a6andons[he Property.or does not answer withirf 30 days a notice from Lender that the insurance carrier has ,. ; , ,, ..`
<br /> ' � -�� offered to senle a claim.then Lender may collect the insuranee proceeds. Lender may use ttte pmceeds to tepair or restore • E. :
<br /> � , � the Property os to pay sums secured hy this Security Instrument,whether or not then due. The 30-day period will begin when
<br /> , ° the notice is given. � ,} �
<br /> - • Unless Lender and Borrower uthenvise agcee in writing,any application of proceeds to principal shall not extend or _
<br /> ' � • postpone the due date of the monthly payments refemed to in pauagraphs 1 and 2 ar change the arttount of the payments. If =__-
<br /> • under paragraph 21 the Property is acquired by Lender. Borrower's ngfit to any insurance policies artd procveds sesulting �:� - .. : ��,�
<br /> � ` � from damage to the Property prior to the acyuisition shal!pass to Lender to the extent of the sums secured by this Security - - _
<br /> .� � ' Inshumeni immed'eately prior to the acquisition. Borcower's Loan A 1[catioa; - � �� �S���"
<br /> •' . 6. Occupancy, Preservatiare+ 141ainteaance and Pirotect[on of the Property; PP =_
<br /> ' ' ' L,easeholds. Borrower shall occupy.establish,and use the Property as Borrower's principal residence within sixty days after -;.;��,:�=:
<br /> • � • the execuuon of this Security In�tmment and shall continue to occupy the Propeny as Borrawer's principal residertce for at ,._�:�
<br /> `� • • teact one year after the date of occupancy, ualess Lender otherwise agrees in writing, which consent shall not be :;�.'.''.:` __�
<br />?±• •„r;°: unreasona6ly withheld.or unless extenuating circumstances exist which sue beyond Borrower's control. Borrower shaU not _ ���.�r�.
<br /> l'� � ^ � . destroy.damage or impair the Property,allow the Properry to deteriorate,or cammi t was t e o n t h e P r o p e r ty. Bartnwer shall
<br /> �., , be in defavlt if any forferture action or proceeding,whether civil or criminal,is begun that in Lender's�aod faith judgment . .. •.` '�,.���`.`=�.`
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<br /> - - � could result in focfeiture of the Propecty or othernise materially impair the lien created by this Security Instrument or *+��;_.
<br /> �. ... ���
<br /> 5�;� . .'� ,' Lender:s security interes� Borrower may cure sueh a default and reinstate,as provided in paragraph iR,by causing the actian , :; „�._
<br />:��!?�..� or praceeding to be dismi�sed with a ruling tha4 in l.e�der's good faith determination,precludes forfeiture of the Borrowerti �'�
<br /> :.�%'�-
<br />=,-;%��� - interest in the Propert}�or other maierial impairment of the lien created by this Security Instrument or Lender� securiry .:•�" ,_��,�,
<br /> ���'f` • . interes� Borrower shali also be in default if Bortower, during the loan application process, gave materially false or .r��•�.
<br /> ,,:_�n�-
<br /> '�� � , ��'' inaccurate informution or statements to Lender(or failed to provide Lender with any material information)in cannection with � ;i;;.T__.
<br /> • the loan evidenced by the Note, includin�, but not limited to, representations conceming Borruwers occupattcy of the „ . �
<br /> ' � Property as a principal residence. If this Security Instrument is on a leasehold Borrower shall comply with a8 the provisinns �'
<br /> � . �, , of the lease. If Borrower acquires fee title to the Property,the lea.rehold and the fi�title shall not merge unless Lender agrees ?"�'��
<br /> ' to the merger in writing. .
<br /> :,�;. � • � ?. Protectian of I.ender's Rlghts in the Property. !f Borrower fails to perform the covenant�s and agreements ,,� `.�'
<br /> �� containec! in this Security Instrument,or there is a legnl proceeding that may sigc►ificantly affect Lender's rights in the '•�,.
<br /> • ' • Property(such as a proceeding in bankruptcy,probate,for condemnation or forfeitun ar to enforee laws or regulations),then : ;°�,�,��°�
<br /> Lender may do and pay for whatever is necexsary to protect the value of the Property and Lenderti righ�+in the Proper[y. . ,.: r;Y�
<br /> ���' .. . Lender:s actions may include paying any sums xecured by a lien which hax priority over this Seeurity Instrumen�appearing A.�.
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<br /> in court,paying rea�onable attomeys'fees and entering an the Property to make repain.Although Lender may take action . � . •: ,,3 T
<br /> � ' � undcr this pasagraph 7.Lcnder does not have ta do so. --
<br />�. !� " . ' • Any amounts disbur+ed by Lec+der under this paragraph 7 shall become additional deb[of Borrc�wer secured by this , •:_��.=-
<br /> � Security lnstrument. Unless Borrower and Lcnder agree to other termti of payment,thesc amounts shall bear interest from the „�;.,
<br /> . � • date of dixburscment at the Note ratc and tihall be payuble,with interest,upon notice from Lender to Borrower requcsting ,. _ �,;•----
<br /> ..�:;.. .; paymen� _�.
<br /> r. � 8. Mortgage Insurance. If Lender required martgage insurance a.�a candition of making the loan secured by this S, . ..
<br /> Security (nstrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If.for any , ., :,,
<br /> reason. the mortgage in�urance coveragc required by Lender lapses or ceases to be in effect. Borro�ver shall pay the � ..
<br />� , � , premiums�yuired to obtain coverage tiubytantially eyuivalent to the mort�age insurance previously in effect, ut a cost . �•s •. . .
<br /> .. • substantiatty equivslent tv thc cost tu Borcowcr of the mortgagr insurance previously in effect.from an alternate mo»gage
<br /> ';� � insurer approved by Lender. If substantially cyuivulent mongage in�urance covero�e is not available.Bortower shall pay to .
<br /> � ' Lender euch month a,um c:yual to anc-twelfth of the ycady mortgage intiurancc premium being paid by Borrower when the .
<br /> � . • insumnce coverage laptied ar ceased to be in effect. Lender will<lccept,use and retain these payments as s�li���re.serve in lieu �
<br /> • of martgage insurance. Lo��reserve payment+may no longer be rec{uired.at the option of Lender,if mortgage insurance �; ;
<br /> .'�.; - � coverage lin the amount and for thc periad that Lendcr reyuireti)pravidcd by an insurcr approvcd by l.ender again becomes _�,•:�5� •
<br /> � available anJ i.ohtained.Bonowcr shall pay the premiumti required t��maimain mortgage in+urance in effect,orto provide a . .
<br /> � , , loss rctiervc.until the nyuircment for mortgage insurance endti in accardance with any written agreement between Bonower
<br /> and Lender or applicable law. '
<br /> � 9. Inspectlon. Lender or i�.agent may make rea.unable entries upon and in�pections�if the Property. l.ender shall . •
<br /> •�. � give Barrower notice at the tinte of or prior to.in inspection�pecifying reasonable c�wse fi�r the impection. ��
<br /> ' 10. Condemnatiun. The proceedti of uny awarJ or claim for damageti.dimct ur conseyucntial,in connection with any
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