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<br /> 5. Hazard or Property Insurance. Borrower shall keep the improvemenu now existing or hereafter erected on the _ �. '
<br />� Property insured against loss by fire, hazards included within the term "extended coverage"and any other ha�ards, including • , � ` '
<br />• floods or flooding, for which Lender requires+nc�.ance_This insurance shall be maintained in the amounu and for the periods �. ' " ' ��
<br /> thai L.ender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lendzr's approval � � ; Y. _
<br /> which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above. Lender may, u l.ender's I . � .
<br /> option,obtain wverage to protest Lender's righ[s in the Property in accordance with paragraph 7. • � ' ,
<br /> All insurance policies and renewals shall be acceptable co Lender and shaII inctude a standard mortgage clause. I.ender � - -- -- - - -_ ,
<br /> siiall have the riglnt to hold the policies and reaewals. If Lxnder req�ires,Borrower shall prom}�tly give to Lender all receipts of { : .
<br /> paid premiums and renewal notices.In the event of loss,Borrower shall give promp[notice to the insuranze ca:rier and Lender. � r� � . - ,
<br /> Lender may maice proof of lass if not made prompdy by Borrower. t., �:�
<br />. Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the . __—__
<br /> Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restorauon or . � �• -�=-�
<br /> . �,�._
<br /> repair is not economically feasible or Lender's securiry would be lessened,the insurance proceeds shall be applied to[he sums • °; " ".•:_
<br /> secured by t6is Securiry Insuument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the f ` � •;�`>:;,`'n--��
<br />: Property, or does not answer within 30 days a notice from Lend�r that the insurance carrier has offered to settle a claim, then • � ,.�'~��
<br /> Leader may collect the ins�uance proceeds. Lender may use the proceeds to repair or resture the Property or to pay sums � � ��,�,.
<br /> : ;• �•-:::
<br /> secured by this Security Instrument,whether or not Wen due.The 30-@ay period will begin when the notice is given. � . ; �'��,,._—
<br /> Unless Lender and Borrower otherwise agree in wriping, any application of proceeds to principal shall not extend or ` ' � � - `_"''"` •
<br /> postpone the due date of the montWy payments referred to in paragraphs 1 and 2 or change the amount of the paymenu. If , � . .
<br /> under paragraph 21 the Property is acquired hy Lender, Borrov�er's right to any insurance policies and proceeds resulting from . � - �
<br /> damage to the Property�rior w the acyuisitivn shall pass to L.sndes to the estent of the sums sec.vred by this Security rn�m,n,ent � _
<br /> imtnediately prior to the acquisition. --�`-�;p
<br /> 6.Occupancy,Preser�atton,Maintenance and Protection of the Property;Rorrower's Loan Application;Leaseholds. • ` •
<br /> ' Borrower shall occupy,establish,and use the Praperty as Borrower's principal residence within sixty days after the execuiion of . - • �'
<br /> this Secuiiry Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after "•� '�
<br /> the dace of occupancy,unless Lender otherwise agrees in writing,which consent shalI not be unreasonably withheld,or untess � - �� x '�=-t+.��
<br />� � . `�'
<br /> extenuating circwnstance5 exist which are beyond Borrower's control. Borrower shall not desuoy, damage or impair the - ' ;l��.: .
<br /> ce.
<br /> Property, allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeinue . �.�°.��'�.'�::-.:-�
<br /> action or proceeding,whether civil or criminal, is begun that in I.ender's good faith judgment could result in forfeiture of the r. •;', .•
<br /> Property or othera+ise materially impair the lien created by this Security Instrument or L.ender's security intemst.Borrower may � „', r .
<br /> cure such a default and reinstate,az provided in paragraph 18,by causing the acuon or procceding to be dismissed with a ruling � �`"�"`. f ;� •�.
<br /> that, in [,e�der's gaod faith determination, precludes forfei[ure of the Borrower's interest in the Properry or other material � � ,, ' � � ��, ��
<br /> impairment of the lien created by tl�is Security Instrument or l.ender's security interest. Borrower shall also be in default if
<br /> Borrower,during the Ioan application process,gave materially false or inaccurate information or statements to Lender(or failed ��' �''�{? �
<br /> LO mvid - ` `..�': -
<br /> p e Lender vv�th any matenal mformanon)m connection with the loan evidenced by the Note,including,but not limited T R ��,��,�-_
<br /> to,representations conceming Borrower's ocsupancy of the Praperty as a principal residence. If this Security Instniment is on a , �:�,,��._=•_-
<br /> leasehold, Boaonrer shall comply with all the provisions of the lease. If Boaower acquires fee atle to the Property, the ��
<br /> leasehold and the fee dtle shall not merge unless I.ender agrees to the merger in writing. ��-,�
<br /> - • 7.Protection of Lender's Rights in the Praperty.If Boaower fails to�Serform the covenants and agreemettts coAtained in �� i���� '
<br /> this Security Instrument, or there is a legal pmcazding that may significantly affect Lender's rights in the Properry(such as a �.�.r���
<br /> praceeding in bankiuptcy,probate. for condemnation or forfeiture or to enforce laws or regulauons),then Leader may do and � '•`"t�T- —
<br /> pay for whatever is nece.ssary to protect the value of the Property and Lender's righu in the Property. Lender's aaions may • -�:
<br /> include paying any sums secured by a lien which has prioriry over this Security Insmunent, appearing in coun, paying : . ~�--'
<br /> • reasonable attomeys'fees and entering on the Property to make repairs. Although L.ender may take action under Wis paragraph �-• .�--
<br /> 7,Lender does not have to do so. __---- ---=-
<br /> Any amouau disbursed by Lender under this paragraph 7 shall become additional debt of Borrower sec�ued by tbis ��°�
<br /> Security Instrument. UWess Borrower and I.ender agree to other terms of payment.Wese amounts shall bear interest from the -'`'�;: ��"�•
<br /> date of d'tsbursement at the Note race and shall be payable, with interest, upon notice from Lender to Boaower r uestin �:`'��-°�••. .'+�.:::
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<br /> PaYment• ' .��- - - -
<br /> S.Mortgz�ge Insuiance. If Lender required mortgage insurance as a conditian of maYing the loan secured by this Security . _ .��:_�;;.
<br /> Instrument, 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 pzy the premiums required to � �
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the � � �•� ' '
<br /> cost to Boaower of the mortgage inswance previously in effea, from an altemate mortgage insurer approved by Lender. If • - ' 4 �.�� �
<br /> substantially equivalent mortgage insurance coverage is not available,Borrower shall pay to Lender each month a sum equal to � �•.,:���
<br /> oae-twelfth of the yearly mortgage insurance premium being paid by Bonower when the insurance ooverage lapsed or ceased to � .
<br /> be in effect.Lender will accept.use and retain these paymenu as a loss reserve in lieu of mongage insurance. Loss reserve
<br /> Form 30�!��(Dp ,
<br /> �-6RfNE1 is2�si-oi Vapo 3 0l 6 mma�e: ���� . . . .
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