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<br /> ` ' �� � 5. Haard or Property Insu�anoe. Bomower shall keep the improvemenu now existing or hereafter erected on the '.�°>�u� � .
<br /> � Property imsvred against loss by fire. hazunls ineiuded within the term °extended coverage" and any oiher hazards, inctading .
<br /> �, ftaods or flooding,for which Lender requires insurance.77�is insurance sliall be maintained in the amounts and for the periods } ` - .
<br />_ � - that Lender requices. The insuranue carriet providing the insurance shall 6e chesen by Borrower subjecE to tender's approval "�, ���
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<br /> . ' " which shall not be unre3sonably withheid. If Borrower fails to m�intain coverage described above. L.ender may. ai Lender's ��� F � "<� ;.
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<br /> _;�-°'�`�': �: oplion,obtain coverage to pmtect I.ender s rights in the Property in accan�ance with paragraph 7.
<br /> —�-.--- �-'_- All insumnce poiic�s and renewals sha!! be acceptable to Lendet and shall include a srandard mortgage clause. Lender _ �. s
<br /> shaU have the right to hold the policies and renewals.If Lender requires,Borrower shal!prampdy give to Lender all�ceipts of
<br /> - • `L'°� `. �: paid'premincns and renewa}nodces.In the evem of loss,Horrower shall give prompt notice to the insurance c�rrier and Lendet. =;�_.�� 't � __.�'�
<br /> . °; � .: L.euder may make proof af loss if not made promptly by Borrower. ;�?� �"�• -_
<br /> � - ' '� -- t '��`� Unless Lender and Borrower otherwise agree in writing.insurance pruceeds shall be appfied to restontion or repair of the , x' '� " _
<br /> . , �� . property da�naged,if N�ee restoratioa or iepair is econoinically feasible and Lender s security is not�essened.If the restoration or �: ��'-",;�?::;-�� "�
<br /> �� � repair is nnt ecanomically feasi'ble or Leuder's security would 6e tessened.the inwranre Pmceeds s6a11 be appli�l to the sums ` ,
<br /> ` ` ''" ° � secured b tlus Security Instiument, whether or not then dae,with an eacess aid to Borrower. If Sorrower abandons the
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<br /> ` : - Property.or does aot answer within 30 days a notice from I.ender that the insuran¢e carrier has offered to seule a claim,then �-l �
<br /> '• . � • . - Lender may wllect We inswance proceeds. Lender tnay nse the proceads to repair or restore the Propercy or to pay soms '� , _ •---
<br /> - .. � secure8 by[his Security tnstrument,whether or not then due.The 3Q-day period witl begin�vhen the noticc is given. ,-
<br /> � Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principaI shaU not extend or '�
<br /> � � ' -����•� postpone the due date of the menthly payments refer�ed to in paragraphs 1 and 2 or c6ange the amount of the payments. If _ _
<br /> _ � � ` � . ; under paragraph 21 the Property is acquimii by Lender,Borrower's right to any insurance policies afld pmceeds resulung frvm %�;;;�``,-,n _ _
<br /> . ., . ��- ; damage to the Property prior to the acquisitinn shall pass to Lender to the extent of the susns secured by this Secusiry Iastrument =��:� -�
<br /> ----- -- -="�.:' immediately prios to the acquisition. . ��,_
<br /> . . ��' ' �•-�:f 6.Occapancy,PreservatEoa,Maint�nance and Pratection of We Property;Borrower's Loan App![catton;I.easeholds. —
<br /> '� �---_
<br /> . , '.. • Borrower shall oavpy,estabGsh,and use the Property as Bornowei s principal residenee wilhin sixty days after tha execution of �:.:..,;�;=•�:
<br /> this Security Instrument and shall continue to accupy the Proloerty as Bunower's principal residence for at least ona year after `� �,_`�Y�
<br /> -�� � ... the date of occupancy.ualess Lender otliawise 8grees in writing. which consent shall not be unreasonably withhetd,or unless ..:_: ,��
<br /> eatenuatiag circumstances exist which are beyond Borrower's controi. Borrower shall not destmy. daznage or impair the ,•,...�.��
<br /> '. Propetty. allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeiture �
<br /> '" action or proceeding,whether civil or crirninal, is 6egun that in Lender's goad faith judgment could result in forfeiture of the �. �,�.,�_-
<br /> • _. .. ' . : •� Property or atherwise materially impair the lien created by this Securiry Instrument or Lender's security interest.Barmwer may �`�r--- _
<br /> • � cnre such a default and reinstate,as pmvided in paragraph 18,by causing the aciion or proceeding to be dismissed with a culing �-
<br /> • that, in Lender's gaod faith determination, precludes focfeiture of the Borrower's interest in the Properry or other material -___ -
<br /> . , impairment of the lien created by this Security Instrument or LeAder's security interest. Bnr�ower shall also be in default if % �±.:a -
<br /> � � � ' Borrower,during the loan apptication process,gave materially false or inaceurate information ur statements to I,ender(or failed . '.`•"-�_• - _
<br /> - (' to provide Lender with asiy material informarion)in wnnection with the loan evidenced b the Note,includin .but not limited � • �"�
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<br /> . , . •, to,representations concerning Borrower's oecupancy of[he Froperty as a principaf residence.If this Sec�arity Instrument is on a ; ,�:�,;;•,�_
<br /> " . ' leasehold, Borrawer shall comply with all the provisions of ttie lease. If Borrower acquires fee Gtle to the Propert}r. the . -:a =._..
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<br /> ' � , leasehold and the fee title shaU not merge unless Lender agrees to the merger in wriUng. . �. • , t:-�
<br /> �� ' '-� � � 7.Proteciion of Lender's Rights In the Property.If Borrower fails to perform the wvenants and agreemenu contained in .-,'=�=_.°��:
<br /> ' � • this Security Jnstrument, ar there is a legal proceedin�that may significantty affect Lender's rights in the Property(such as a , `��''
<br /> • proceeding in bankruptcy,probate,for wndemnation or forfeiture or to enforce laws or regu{ations),then Lender may do and - : --
<br /> .; � pay for whatevet is necessary to protect the value of the Property and Lender's rights in the Property. lxnder's actions may : . ..,�.:r
<br /> . � include paying any sums secured by a lien which has priarity over this Security Insuument. appearing in caurt. paying : �r-�
<br /> �� � � , rea3onable attomeys'fees and entering on the Property to make re�airs. Although Lender may take action under this paragraph ��;='
<br /> . � 7,Lender does not have to do so. �.� •
<br /> . ' ' . . Any amounu disbursed by I.ender under this paragraph T shall become additional debt of Barrower sccured by this • ;
<br /> • � Security Instroment. Unless Bonower and Lender agree to other terms of payment,these amuunts shall bear interest from the
<br /> � •� date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requcsting .
<br /> . payment. �
<br /> -., , " , S.Mortgage Insurance.If Lender required mortgage insurance as a wndition of making the loan secuted by this 5ecurity � . • •
<br /> � .. lnstrumeni. Bonower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the �
<br /> � mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay�he premiums requirat to ' . �
<br /> . , obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost�ubstaniially eyuivalent tu the ' . •
<br /> ' . � cost to Borrower af the mortgage insurance previously in effect. from an aiternate mortgage insurer approval by Lender. If :
<br /> substantially equivalent mortga�e insurance coverage is not availablc.Borrower shall pay ro Lender each month u tium cqual to - � •
<br /> • ' . one-twelfth of the yearly mort�age insurance premium being paid by Borrower when the insuronr.c c��vcr�gc lapscd or ccased to � . .
<br /> ' � be in effect.Lender will accept, use and retain thesc payments ac a lo�.s reserve in lieu of mortgugc insurancc. l,ass rescrvc
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