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<br /> 5. Haznrd or Property Insurunce. Horrowcr situll kcep thc improvemcnts nuw cxistin�.: un c�rraftcr ricctcd ��n tlic �
<br /> Property insured ugaintit loss by firc. harurJ, in�ludecl within the term "cxtcndcd rnveru�;c" und any �+�f�rr h;�nirJ., inrludin�. _
<br /> flouds or flooding, for which L.ender requires insuranca Thi::insuram:r sludl he mnintuincd in thti amuuntti;�n�1 fur Uic periu�lti _
<br /> that l.endcr rcquires. Thc intiwancc:carricr providing thc insurancc Shall bc choscn hy f3orrm�•ur �ul�jrct tu I.cndcr', nppruvul �
<br /> which shall nut bc un�ea+e�nably w•ithheld. If Borrrnti�er fliils to maintnin awcraN� dcticrihcd .�buvc, Lcndrr muy, �it l.�nder'ti �
<br /> ��"`'�'�`� option,obtain coverage to pratect l.e;nder's rights in the Property in ai�conluncc with paragniph 7. _.
<br /> - � • All insurance policies xnd renewals shuU be acceptuble to Lendcr and shull include a �tnnd.ird murtgugc rinusc. l�;ndcr _
<br /> �, . shall have the right w hold the policies und renewals.If Lender rcqun�cs, Borrowcr shitll prompQy �ivc to l.�ndcr nll rcrcipth ul� �,
<br /> ` paid premiums and renewal notices. in the event of loss, Borro�ver tihnll give prompt n��tice tu the insurance rurrier nnd LAndcr. _
<br /> l.ender may make proof c�f loss if not niade prompNy hy Barrower. _
<br /> Unle:�s Lender and Borrmacr otherwise agrce in writin�, insur�nce proeccds �hall be appllcd to rc�tor:uic�n or rcpair��f lhc �_
<br /> Proparty damuged, if thc restorution ar repair is econnmicaUy fcasihlc and Lcnder's sccurity is ni�t Icssencd• If'Uic resturation ur =
<br /> � rcpair is nut economicaUy fensible or Lcnder's sccurity would he Ictisened, thc insuranec pnu:eeds til�ull he upplicd to the sums
<br /> " secured by this Se.curity I»s[rument, whether ar nat then due, with uny cxccss paid ti� f3orro«�r.r. If Borrower lihunduns the _
<br /> . Property, or does not unswer within 30 days a notice from L.ender thiu the insurance carrier hi,s oftered ta settle u cluim,then —
<br /> ; � Lender may collect the insurunce proeeeds. i.ender muy use the proceeds w repair ��r rostc�re tha Propertu ur tu piry sums
<br /> secured by this Security Insirument,whether or not then due. The 30•day period will begin���hen thc noticc is�;ivcn.
<br /> „ ���� Unless L.ender and Hor••awrr otherH•ise agree in writing, uny application of prnceeds tn prmeipal �hiill nut extend or _.
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<br /> .;p;t;n.;. , postpone the due date of thc mon�hly pay��,:nts rc6•re�' to in i •iragrnphs 1 and 2 or changr.thc. umount of thc puyments. If __
<br /> •� '!'i`� under paragraph 21 the Property is acquired by Lender, Borrowcr's right to any insurctnee policies;md pmceeds resulting from !
<br /> �Gh:�d�• � dwnage ta the Property priar to the acquisitinn shaU pass ro Lendur to thc cxtent��f the sums sccurcd by thi�Sccurity Instrumcnt
<br /> immediatcly prior to the acquisitian.
<br /> � 6.Occupancy,Pr�ervation, MalntenAnce and Protu�K�on uf the Pruperty;Borror�•er's L�ii�n Appllcation; IAUSCholds. _
<br /> ' � "' Borrower shall occupy,estnblish,and use the Propeny as�:�rrower's principal residence within sixty dzrys aRer the executicm of
<br /> this Security lnstrument und shall continue to occupy tht:Froperty as Borrower's principal residencc for ut Ieust one yeur ufter
<br /> � . ' the date of occupancy, unless Lender otherwise agrees in writing, which cunsent shaU not be unreaisonably withheld, or unless
<br /> �7r�';� ��"� extenuatin g circumstanccs exist which are beyond Banrowcr's control. I3orrower shall nc►t destray, damage or impuir the
<br />";:%°.�":�•�- , Property, allow the Propeny to deteriornte, or commit waste an thc Propeny. Borrowcr s ha l l bc i n d e f a u l t i f a n y fi�r f c i t u r c
<br />- �"`�,��`,'�°' action or proceeding, whPther civii or crimit�ai,i5 ucbilii ttzat ir� �.���cr's ga^•'! f�:6!h;udgm�n!c�uld re�ul� in forfeiture of the
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<br /> - •_:�*�. t, Propeny or otherwise materially impair the lien creatccl hy this Security Instrument or Lendcr's securiry intcrc�t. Bc�rrowcr muy
<br /> =""�� "�"���`,( cure such a default and reinstate,as provided in paragraph 18,by causing the netion or pmceeding►o be dismissecl with u ruling
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<br />'^'.�k't,u.� that, in Lender's good faith determination, precludes Curfeiturc of thc Borrower's interest in tFi�: Pmperty or othcr muterial
<br /> �"�-�' �`i� , impairment of the lien created by this Security Instmment or Lender's security interest. Bormwr.r shall ulso be in defhult if
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<br /> _:W;�y��, Bonower,during the]oan application process,gnvc mt�teriully fulse or inaccur,tte information ar slutements to L.ender(or fniled
<br />-__-- to provide Lender with any material informution) in connection with the luan evidenced by the Noie, includins,but not limited
<br />—'"'-��� to,representations concerning Horrower's accupancy uf thc Properey as u principal residence. If this Security instrument is on u
<br /> ''"'��`'y��i leasehold. Borrower shall comply with All the proviaions of the Iease. If E3r,rrower ncquires fr.c title to the Pmper►y, the
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<br /> leasehold and the fee title shall not merge unless Lender agrc:es m the merger in writing.
<br /> ����• 7.I'rotectton of Lender's Rights in the ProperQy.If Borrower fuils to perform the covenantu and agrecments�ontuined in
<br /> ---�=Y� tliis Security Instrument. or there is a legul proceeding that may si�nificuntly uffcet I.ender's rights in the Property (such as n
<br /> "-`=��`� proceeding in bankruptcy,probate, for condemnation or furfeiture or to enforce Inws or regulations), then L.ender muy do und
<br /> '��""`"-"-�'�' pay for whatever is necessnry to protect the value of the Froperty and L,ender's rights in the Nroperty• Lencler's actinns m�y
<br />-` "_-- include paying any sums secured by a lien �vhich hns priority over this Security Instn�mem. uppearing in court, paying
<br />---- -_— reasonuble nttorneys' fees und entering on the Propert,y to mEilcc repairs. Although Lendor may takc uction under this parngraph
<br /> =— 7,L.ender does not have to do so.
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