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<br /> � induding flonds or flooding,for which Leader requiies�*+�+,*�ce. This iasurance shall be maintained in the amounts and � .
<br /> for the penods thai Lender�eqwres.The ir�surance carrier providing the insurance shall be chosea hy Borrower subject to
<br /> Lender's approvei which shall not be unreasonably withheld. If Borrower fuils to maintein coveraga described above, , ~'
<br /> ' Lender may.�t I.ender's option,obtain coverage to grotect Leader's rights in the Pmparcy in eccordance u+ith Parag�aPh :�:��.
<br /> 7. .._
<br /> : A11 insnraace policies and renawals shall be acceptable to Lender aad shsll include a standard mortgage clause. . .. :��_-
<br /> � LEader shaU have the nght to hold the policies and renewals. If Lender requires,Borrower shaU prompdY give W 1.end�r ' . ,
<br /> _ � all receipts of paid premiums and r�newal notices.In the eveat of loss,Borrower sh.sU give prompt aorice to the insurance ,
<br /> carrier and Le�d$r,Lender may make proof of loss if not mad�promptly by Borrower.
<br /> Unless I.endet and Bortower otherwise agree in writing,wsurance pr°ce�ls shall be xpplied to restoration or repair �
<br /> of the Property damaged,if the restoration or repair is etonomically feasible and Lender's security is not lesse�ed if the , �
<br /> testoration or repair is not eeonomieaUy feacible or Lender's seeuriry would be lessened. We insuiance proceeds sha11 be •
<br /> , applied w the sums secured by tlris Security Instnun�nt, whether or not then dae, with any excess paid to Bonower. If _
<br /> Bormwer abandons the Froperty,or does not answer within 30 day�a notice from L.ender thai the msurance carriet has •
<br /> offend W settle a claim,then Lender may coUect the�nSn.a++ce proceecls. Leader may use the proceeds to repair or restore . , , .
<br /> � �e Property or to pay sums secured by this Security Instrument,whetl�er or not then due.The 30-day�nod will begia . _ .
<br /> . ' when the nobce is give.n. • .
<br /> Unless Lendar aad Borrower otherwise agne in a+riting+any app]ication of proceeds to principal shall not extend or ,
<br /> gostpone the due dale of the tnnntbly paymenis referred to in paragraphs 1 and 2 or change the amouat of the payme�ts.If � - . , � ., .
<br /> imder pazag�aph 21 the Property is acquired by Lender. �orrower's nght to any insurance policies and proceeds res�ilting - :�_,'___
<br /> from damage to the Property pnor to the acqu�sition shail pass to Lender to the extent of the sums secured by ttris Security • .� � . �
<br /> Instrument i�mediately pnor to the acquiss�on. • , ` . • �
<br /> 6• O�Pan�9� Preservation, Nlainteaiance �.�d Protection of the Property; Borrower's I.aan Application; . �--
<br /> II.easehoids. Bosrower shall occupy. establish, and use�e Property as Borrower's pnncipal residence within sixty days . -
<br /> � after the eaecution of this Secunty In.strument and shall c�nanue to occu�y the Property as Borrowen''s PriaciP�a�cdenca ` ` _____
<br /> for ai least one year aRer the date of occupancy,unless Leuder othes�nse agrees m wnhng, wlrich consene s�aIl not be . . . . �'�
<br /> � uareasonably witbheld,or unless extenuating circumstances exist wluch are beyond Borrower's controL Borroa�shaU not 1 .. , . .'�. .,._=
<br /> destroy,damage or impair the Properiy, allow the Proparty to deteriorste, or commit waste on the Property. Borrower , , .- ;.'��
<br /> shall be ia default if an�r forfeiture acann or proceeding,whether civil or criminal,is begm that in Le�der's good faith ,�<, �
<br /> � judg�nt coWd resulY m forfeiture of the Propercy or othe:wise maierially impair the lien created by this Secutity . {'•�-,ri�
<br /> Instrument ot Leardet's security interest. Borrower noay cnre such a default and ceinstate,as provided in patagraph 18.by ' .;1
<br /> . causing the actian or proceeding w be dismissed with a niliag that, in Lender's goad faith deteiutination, precludes . , . . +--`.+F%��:.
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<br /> forfeituie of tha Botrower's interest in the Property or ot6er material impaimient of the lien created b� this Security - � � '��;. -
<br /> .�:� ' Insttument or Leader's security interest.Barrower shall also be in default if Borrower,during the loan appucation provess, �r•:�;;, �
<br /> gave materiaUy false or inaccurate inforusatios or statements to L.ender(or failed to prov►de Lendec with aay material , "` �
<br /> .� ; information)in connection with the loan evidenced by the Note,including, but aot liuuted to, repre.seututions concerning _ ' . ;, s�, ':'.��_�
<br /> . ._ � B o r t o w e r's o c c u p a n c y o f t h a P r o p e r ty a s a p r i n c i p a l r e s i d e n ce. J f t h is Securi ty Instrument is oa a leasehold,Batrower shall ' r ,��' i
<br /> camply with all tha provisians of the lease. If Boaower acquires fee tide to the Pmperty, the leasebold and the fee ritte j � � `' '
<br /> �� i s�all not merga imless Lender agrees to t�e merger in writing. ,� .} � � ' �
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<br /> 7. P r o t e c tion o f L e n d e r's R i g h 2 s i n t h e P r o p e rt y. I f B o r r o w e r f a i l s t o p e r f o r m t h e w v e n a n t s a n d a g t e e m e n t s I `
<br /> wntained in this Secnrity Instrument,ar there is a legal praceeding thac may si�nificently a ffect L e nder's ri g hts in the � . �
<br /> Property(sueh as a pracoeding in bankns�tcy, probate,for condemnat�on or forfeiture or to enforce laws or regulations), �_ �•-
<br /> thea� Lender may do aad pay for whatever is necessary to protect the value of the Property and Leader's n�hts ia the � _ .;,�� ..
<br /> Property. L,eader's actions �ay include paying any sums secured by a lien wlvch has priority over Wts Security I _ k�f:
<br /> ' � Ia.�ment,ap g in court,paying reasonable attomeys'fees and entering on the Property to make regairs. Although i • . •;�Y �F-
<br /> • Leader may�on undet 4bis para,;raph 7, Lender dces not have to do so. � ____ .ry� _ ..,;�_=___
<br /> " ; Any amounts disbursed by Lender under this paragraph 7 sl�all become addirional debt of Borrower secured by this i '�°;�:�,,^'�:�
<br /> Security Instrumeut.Unless Borrower and Lender agree to other terms of payment,these amounts shall bear inter�st from � =.;,,;,��, -
<br /> the data of disbwsement nt the Note rate aud ahall ba payable, with interest, upon norice from Lender to Borrovier � • . - •
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<br /> � S gMort�ga�e IaSVrance. If I.ender required mortgage insurance as a wndition of making the loan secured by this ' �-L-. •'•-��;�s--:
<br /> . I Security 1nsWmeat,Bottower shall pay tha premiums required to maintain the moRgage ina�mnCO ln BfF�M. If.for any . � -v,
<br /> �soa, the mortgAga �n��*A�+ce cover�ge reqwred by Lender IapsES or ceases to be in effec�. Bonowar shall pay che �
<br /> � to obtain covera e substantiall valent to the mort e insurance reviovsl in effect, at s cost � "�'�""'
<br /> . Ptemium9 requimd g Y � Sa8 P Y , . �;�,•.°;',
<br /> . substaautiaUy eguivaleat to t�s cost to Borrower of t�e mortgage insurance pre�nously in effect,from an altemate mottgage : . ,�,.w:,--
<br /> r�� iasarer appt�ved by L�ender. If substantiallyequ rvalent mortgage+n��+�ce coverage�s not available,Borrower shall pay i � �.
<br /> `� w Lender each manth a sum e q u a l to one-twelfth of the yearly mortgage insurance premium beinv paid by Borrower when � . , . ? ,�.�
<br /> ; , �e incn�n�apvet8ge lapsed ot ceased to be in�ffect.Lender will accept,nse aad retain these paymeuts as a loss reserve ' '� ... .■�
<br /> ' in liev of mort a a wsurance. Loss reserve a ts ma no lon er be wrad.at tha o noa of Lender.if mort a e � .. . � • ��_--�-�
<br /> ; I � S P Y�?� 9 8 re9 P, 8 g , , .�
<br /> insu�nce coverage(in the amount aad for the penod that Lender requires) providod by an �nsurer epproved by Lender � :`:},;►-, —
<br /> again becomes avtulable and is obtained. Borrower shall pay the premiums requimd to maintaia mortga�e insurance in ' ,
<br /> ; I effeet, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance witt►any written � ;
<br /> � ' agroement between Borrow�r and Lender ot applicable law. � p�aye 3yfg� �
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