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<br /> • 5.Haratd or PtoAert�Imsnraace. Bormwer sdall�ep the improvements now existing or hereafter erected on the Propeay
<br /> � in,s�ed agaiast loss by Gre,ha7ards included within the term"e�aended coverage" and any o�her ha7ards.inciuding ttoods or �
<br /> , floading,for which Lender cequires inswrance.This insurance shaU bc maintained'a�the amounts and for the pe.riads that Leader �. . ,
<br /> te�uites.'[tte insurance prricr providing tite�utaace shall be chosen by Borrower subjcct tn Lendei s appmval whicd shal!not � . ,
<br /> • ' be uareaz+nnably withhetd. If Borrower fa�7s to mainrain coverage descn�bed above. C.end� may, at Lcuder's option. obtain � .
<br /> � coverage to pmtect I.�der's rights ui the Propeay in accordance with paragiaph 7. � . .
<br /> All insurance policies and renewais sdall be accepiable to Iender and s6all include a standard�nortgage clause.Lender shall
<br /> ! t�ave the right to 6old[he policies and reaewaLS.If Leader requues,Bo:rower sha11 prompUy give tn Lender all receipts of gaid .
<br /> piemimns and r�ewal notiee.s.In the eveut of Ioss.Borrowcr shall give pt+ompt notice w the insurance caisier and Lend�.i.eadea .
<br /> j may make proof of toss if not made prnmpdy by Borrower.
<br /> , ; Unless I.ender and Bormwer othe�wis�agieE in writing.inswance praceeds sltall be apglied to restoration or repair of the �
<br /> '. pmperty damaged,if the restosatian ar repair is ecanomicaIIy feasible and LeAder's security is not Iessened.If the restorarian ar „
<br /> , _ �aa u not econnmically feasi6le or LeQder's securiry wonld he lesse�►ed,the insuranoe pmceeds shall be a�pyed to t he su�us � ; . :
<br /> �� secvred by this Security Instrument, whether ar not theu dne, witb any excess paid to Bonower. If Bonower abandons the ' . , �. .
<br /> , :� p�opeity,ar daes not answer within 30 days a notice from Leuder that the insvrance canier has offe�d to settle a claun,thea ' . ; . :-`��"•
<br />, ��� L,ender may ooIIect the insur�ce proceedc.Erc-�der may use the proceeds w repair or restare the pro�ty or w pay sums secured ' , ' ..
<br /> bp tflis Sea�riry Instrument,whether or nat ctras due.'ilie 30-day peaiad will begin whea the notice is g6ti-�. i '. '" '
<br /> . � an !`• ,,"
<br /> �;a P�s.c L e a d e i a n d B o r t o w e r o t h e r w i s e a g r e e i n a ri t m S,�Y a P P li�n a f p r o c ce 3 s m p�c i�a l shall not eaornd or postpone �? ., .~`
<br /> j � . .,..
<br /> the d¢e�e of the monthlY Paymeats refe.�to in paiagta�hs 1 aud 2 or cUange the a�cmt of the payments.If��er paragraph ,. .:,,: ., �., ..�
<br /> ''� an .
<br /> hci ces�..lting fiom damago w t4e �"
<br /> 21 the Pt�pea�� is acquised hy Lende.r,Borrower's rigdt to amr�ce pa� es�P�ca�.S �
<br /> � � ��:�` �.�� . -�`—
<br /> . �P�Y P�a�rfie acquisition s6all pass tt�Lcader w the extent of ihe s�uns secured by ir.;s Sa�n?+Insuument imm�LF . ,
<br /> , :•� piior to the�u�tion- , .,;.'..�',:`
<br /> 6.Oaxipan�9+Pres�rvatton,Maintwa�and Protection of the Propert9; Bo�aatwer's i�m :gppllcation,I.ease6olds. r
<br />- • • -I B��r shall occvpy,establish.and ase the Pcoperty as Bonower's principal residence wichin s6uy days aftrs the acecuuon of i. ��--•�:j�j
<br /> �.. -.' ':.:'.:.,.H:��.
<br /> ' thFs�►P.�ameat and shall continae ta accupy the Propeity a4 Bormwer's principal reside�te L`�r at least oae year after the '' : •:� �•;�Y "'�i
<br /> daw�Qec�asY, untess Lender oWe�w*.�agrees in wriang,which consemt shall not be ���.�bly vvithheld,ar untess •;� ;r ::.,z
<br /> �g ciccannstances exist which are beyond Boirower's controL Bonowea shall nai desmmg.�-�or impair We Pmpeny, • ,: : `_
<br /> 2LC�� the Propesty to dd�ora�e,or wmmii waste on the Prope.rty. Borrower shatL T.e in defa:r�a�aay fafe�re aaian or ' '•�� . �.;;`. , ;:;_:
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<br /> • . ' Proceedu�g,whether civil or�xan�al,is begun that in Lender's gaod faith judgmaut�resutt��:eiaure of the Propeaty or .�,;v,��r:: . -
<br /> x ,.,.
<br /> � othawise maresialty impair dae Len creazed by this Seaaity Insdument os Leader's security intr�e�.Barmwer may aue sucd a ..�t�`°'� � ��_...:
<br /> � �;:::,,_ � as vided m d 18.b causing the actina or proceeding w be di�rl aith a niling that,.Bs � '''`•`':
<br /> t.:<, defa�ilt and rt�...te, Pm � P��F Y :. �:+�,
<br /> ' '•,i ; l.ender's gand f�deteam�ation,Prectu�es fnrfeiUUe of the Bosowe�s'rs•r�rest in the Ptope�ty or eri�r material impairme�ni nf :,•��;:
<br /> `•:��:.;:
<br /> ' the lien create��c this Security►L�mect�r Leaider's secarity inLeaest�rcower shall aLso be in default if Borrawet.du�riitg t�e ,-!j,t;;:
<br /> � � . toan application grocess,�ve materially fatse or inac�uratc infannatinn or statements to l.ender(or failed w pro�-�Lender with -- ._ .� �4:�
<br /> any materia3 infocmation) in conneaion wiW the toan evidenced by the Note, including, but not limited w, rePresentations -;:•'
<br /> . conce�ning Bo�wer's accupancy of the PropeKy as a principal resideacc.If this Secarity Instr�ment is on a teasehotd,Bomnwer . � ;�:•`�":
<br /> � shall comply wi�h all the pmvisions of the 2ease.If Borrower acquires fee a8e to the Property,the leasehold and the fee tiUe sdall ..� :;;.��.� `
<br /> -j � not mage ualess Lender ag«es to the merger in writing. � - .
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<br /> � 7.ProteeUon o!Lender's Rightg in the Properiy. If Homnwer fails w pedorm the covenanu and agreeme�contained in ;:.. . . . .
<br /> this Seauiry Instrumen6 or there is a fegal proceeding tLai may signiticantly affect T�cder's rights in the Pco�;(sucb as a ��:;�;i. . �,::•.'
<br /> ' proceeding in bankruptcy.probate,for candemnation or forfeiture or w enfo�e tawa or regulations),then 1.ende,r may do and�g ' � ��`T
<br /> �-;.:::
<br /> :�r. : for whatcver is necessary to pralect the value of the Fropcxty and Lender's rights in the Pm�ercy.l..euder s aqions may i.'ecLlr�e ,-:•„��;;�;;:
<br /> �� P�� �Y s� �aued by a lien which tias priority over this Security Insuument,a�ing in coari.PaYmg reaso..�1a ;� •�`.�;•.:'•`
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<br /> . att�meys' fees and enteruig on the property to make repairs.Although l�de�may take action under this paragraph 7,Lender . .
<br /> . does no1 have w do so. � . � �:.,.
<br /> � � Any amo�tts disbursed by Lcnder undar tLis par�graph 7 shall become addidona!debt of Borrower sec�rcd by this Security . :.• .�
<br /> :, lnstrament L?a�s Botrowa and Lender agrec to othc�tams of payment,these amawits shall bear intexest hom the da�c of � :�'��,��;
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<br /> disb�use�ner.t��e Note iate and shaU be payabis,with interest.upon notice from Lender to Barrowea reqaesting Da}rment � ;�.;.;��iE•
<br /> �.r,�., .'�''.�' S.Mortgage Insurene� If Lender required mortgage incurance as a condition of making the CQan secured b?�cT.is Secc�ry � , ...
<br /> ;�;',., . '. Instrument, Borrowa shall pay the pmaniums required w maintain the mortgage �s�ance in effecG If, for ar►y mason. the ` • .
<br /> mo�gage insu�ance cov e r uired b Lender lapses or ceaces w be in effect,Bc�ower shall gay the premi�uns required:� t` � �:: •
<br /> �� • ' , �B W Y .:.,.:•:
<br /> �1 ';;i;. o b t a i n wv e r�s u b s t a n 6 a U y e q u i v a t c n t c o t h c r n o rt o a g c i n s u r a n c c p re v i c�s l y i n e f f e c t,a i a w s�9.c L�stanpall y e quivalcat to� . : .�'.`+:'-:
<br /> . . ," cost to Borrc�.er of tha mortgage insvianee previously in effect,from an altemate mortgage ins�u'•�•r approved by Len�er_IL .
<br /> ;�;: . . " ',::;��� s�x6�-,,.az�tially c�aivalent mortgage insurance cove�aage is not available.Brnrower sha11 pay tn Lender each month a sum equal to .
<br /> ����: ca�-carelfth Qf the yearly moctgaga insuranee premium being paid by BoTmwer when the insuiance covaage lapsed or ceased to •
<br /> `..�`. � , 1�in effect. Lender will accept,use and retain these payments as a toss res�re in licu of mortgage insarance. 1.oss reserve � . ..
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<br /> '•i _ ' Form 8048 9r3fT
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