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<br /> ' � 5. Ha�ard or Progerty Inswance. Borrower shall keep the impmvPments now existing or hereafter erected on the j � • � �_
<br /> . Property insured against loss by fire, hazards included within the tecm "ex[ended coverage" and any other hazards, including � ', --
<br /> floods or flooding,for which Lender requires insurante. This insutance shall be maintained in the amoun[s and for the periods � ., ''�"
<br /> that I.ender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject [o Lectder's approval ' � . c _�
<br /> � which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's � " -
<br /> � option,obtain covtrage to protect Lender's rights in the Property in accordance with paragraph 7. � v
<br /> All insurance policies and renewals shall be acceptable [o L.ender and shall include a standard mortgage clause. Lender � `� �
<br /> � shall have the right to hold the policies and renewaLs.If I.ender requires.Borrower shall promptly give to Lender all receipis of . -
<br /> paid premiums and renewal notices.In the event of loss, Borrower shail give prompt notice to the insurance carrier and Lender. _ :
<br /> Lender may make proof of loss if not made promptly by Borrower. ` °
<br /> , Unless Lender and Borrower othervvise agree in writing, iasurance proceeds shall be applied to restoration or repair of the • , ' . �-
<br /> Property damaged,if tbe restoration or repair is economicaUy feasible and Lender's security is not lessened.lf the restoration or . ' � _ . '
<br /> repair is not erAnomically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to[he sums . � ;' �_
<br /> secured by this Security Insuument, whether or not then due,with any excess paid to Borrower. If Borrower abandons the '�""'�'
<br /> ' Property, or does not answer within 30 days a nouce from Leader that the insurance carrier has offered to setde a claim, then � , . •_ :_ _T_�
<br /> Lender may collzct the insurance proceeds. Lender may use the pro�eeds to repair or restore the Property or to pay sums = ,
<br /> secureci b this Seruri Instrument,ahether or not then due. The 30-da eriod will b in when the notice is iven. ; _ _ ` ���
<br /> Y tY Y P eB S , . -°,_�.:��:-w
<br /> Unless Lender and Borrower othervvise agree in wricing, any application of pmceeds to principal shall not eatend or � '� ""`�' ,�:••
<br /> posc�one the due date of the montlil�� payments refened to in paragraphs 1 and 2 or change the amount of the payments. If ' : z � --.�,;
<br /> , � �nder paragaph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and procxeds resulting from � __
<br /> ' damage to the Propeity prior to[he acquisition shall pass to Lender to the extent of the sums secured by this Security Insuument :� ..: Y���
<br /> ; � ..��i�--
<br /> • � immediately prior to[he acquisition. ' ::��._��� _
<br /> .��; 6.Occupaacy,�"resecvatarn,Matntenance and Protedion af the Property;Borrowex's Loau ApplIcation;Le�seholds. � � '� �� �;
<br /> Bomnwer shall occupy,establis�,and use the Property as Borrower's principal residence within siaty days after the execuuon of � •
<br /> L T . . •��•'s. .
<br /> t his Securi ty I n s u u m en t a n d s h a l l co n tinu e t o o c c u p y t h e P r o p e r t y a s B o r r o w e r's p ri n c i p a l r e s i d e n c e f o r a t l e a s t o a e y e a r a ft e r � 1, �;; .
<br /> the date of occupancy,unless Lender otherwise agrees in writing, which wnsent s4a11 not be unreasonably withhetd, or unless `��
<br /> , y � .-f .,a;'L;
<br /> . •; _. ,
<br /> � extenuating circumstances exist which are beyond Borrower's conuol. Bottower shall not destroy, damage or impair the -
<br /> ' Property, allow the Properry to deteriorate, or commit waste on the Property_ Borro�yer shall be in defaWt if any forfeiture � "� �t
<br /> . . _ .,a�''�� . ,
<br /> .; action or proceeding, whether civil or criminal,is begun that in Lender's good faith judgtnent could result in forfeiture of the °, �+�• � . •;�,�
<br /> " Property or otherwise materially impair the lien created by this Secairiry Instrument or Lender's securiry interest.Borrower may � � '•y'
<br /> cure such a default and reinstace,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling �`
<br /> that, in Lender's good faith determination. precludes forfeiture of the Borrower's interest in the Properry or other material :��, i�� �
<br /> impairment of the lien created by this Security Instn�meat or Lender's security interest. Borrower shall also be ia default if -p,""�' . � ;:•�k. .
<br /> `tN'�
<br /> l��'. � {
<br /> � Borrower.during the loan applicarion process,gave materially false or inaccurate information or statements to Lender(or failed � _ ; - a�� •�
<br /> j to provide Lender with any material information)in wnnection with the loan evidenced by the Note,including,but not limited � r:.�� :.�;.�
<br /> '' to,r resentations conccmin Boaower's occu an of the Pro e as a rinci al residence. If this Securi Instnrmeat is on a '-�'""-�� � i•
<br /> eP 8 P �l' P nY P P tY i"��: , . .;�;�;, ---
<br /> `` leasehold, Borrower shall comply with all the provisions of the lease. If Boaower acquires fee cide to the Property, the �'
<br /> �,�--,�.,�
<br /> i leasehold and the fee title st�all not merge unless I.ender agrees to the merger in writing. � —
<br /> � 7.ProtecGton of I.endw's Rights in the Property. If Boaower fails to perform the covenanu and agteemenu contained in ,,� _.�:•,.
<br /> .:R :����
<br /> this Security Ins[rument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a • r=:
<br /> , >.�+`-y
<br /> . � proceeding in bankniptcy, probate,for wndemnation or forfeiture or to enforce laws or regulauons),then Lendet may do and °• "' �:•.=
<br /> for whatever is n to rotect the value of the Pro e and Ixnder's ri ts in the Pro e Lendcr's astions ma � `�`"
<br /> . .� PaY ��Y P P rtY F� P rtY• Y . . �.�. �s
<br /> include payin$ any sums secured by a lien which has priosiry over this Securiry Instrument, appearing in oourt, paying
<br /> reasonable attoraeys'fees and encering on[he Properry to make repairs. Although Lender znay take action under this paragraph �-��'�"• , .=~
<br /> � 7, Lender does noc have to do so. ' � ��—=_��
<br /> Any amounu disbnrsed by Lender under this pazagraph 7 shall become additional debt of Borrower secured by this .�''� � "_-
<br /> ����`�.;_; �
<br /> i Security Instrument. Unless Borrower and l.ender agree to other tenns of payment, these amounts shall bear interest from the •.m�l������yy�:.: _:-::
<br /> date of disbursement at We Note rate and shall be payable, with interest. upon notice from Lender to Borrower requestiag ' "'�'�
<br /> payment. .�.=.��y,�w•�:-...
<br /> 8.Mortguge Insarance.If Lender required raortgage insurance as a condition of making the loan secured by this Securiry , . •- ± .�'C:'°`
<br /> Instrument, Borrower shall pay the premiums required to maintain [he morcgage insurance in effect. If. for any reason. the . . � � � •��
<br /> .r:.- ',:. •
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to � . . , .,�..-
<br /> obtain wverage substantially equivalent rn che mongage insurance previausly in effect,a[a cost substantially equivalent to the : . . • ��"
<br /> wst to Borrower of the mortgage insurance previously in effect, from an altcrnate mongage insurer approved by l.ender. If � . .
<br /> subs[antially equivalent mongage insurance coverage is not available.Borrower shall pay to LenQer each month a svm equal to : . �' •
<br /> � one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance wverage lapsed or ceased to , . . � �. .—
<br /> be in effect.Lender will accept. use and retain these payme��ts as a loss reserve in lieu of mortgage inswaace. Loss rese.�ve
<br /> Porm 3028�919�/, (� . . i
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