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<br /> •�'.�_�. � S. 4�a�asd or Propesty tasur�nce. Borro�ver shall keep the improvements now existing or hereafter et�cted on :F-
<br /> `" �` the Propetiy it�sured agaitsst lass by Gre.harards incladed w�thin the term"extended coverage°and any other hacards, '�
<br /> � , � ineluding floods or flaoding,4ar which Ixnd�r re�uires insuraace.'fhis insurasce sha11 be maintaine�f ifi►th�amnvnts
<br />. . , ;�, and for the periods that Lender requires.The insurence carrier pi'o�iding the insurance shsilll be chosen by Aorrowet
<br /> _ _ __ sub�ect to Lendec's approvul which shell not be unreasonably cvithheld.If Borroner taits to meintein wvernge described
<br /> c.:.�` � ahove,Lender may.at Lender's aption.ohtain coverage to protect I.end�t's siShL'in�he PropeKy in accardance�vith
<br /> P�B�Pb 7. clause. ;
<br /> A11 �nsurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage h:
<br /> ' Lender shall have the right to hold the poticies and renewals. If Lender te9ui*es. Bon°N�'shall promptly g�ve to
<br /> , ,.- ,.�_;;�``.": Lender all receiptsof paid premiums and reneNal notices.In tt►e event of loss„Bosrower shatl give prompt notice to the -
<br /> insurance carsier and Lendet•1.endes may make pront o�to�if not macie promPtlY by HorroweP-
<br /> -`°��:' Unless I.ender and Borrower otAernise agree in writing,insurasice proceeds shalt be agpiie�w restosatian or repair _ _
<br /> t ' of the Prnperty damaged,if the restorativa or cepa�r is economically feasible aad Lender's security is not lessened.lf the
<br /> ` � resioratiop or sepait is not economically teasible or Lender's security would be tessened,the msurance psaceeds sha1�be �_ �
<br /> ".:. :<�:�_. applied ta the sums secured by this 5ecuritY Instrument,whether or not then due�with any escess paid to Borrower.lf •;u_;
<br /> `�.�.�.:��--.. ��- Bonosver a b a n d ons t he Pm p e rt Y.o t do�s not anscver within 30 days a notice from t.ender that the insurance canier fnss _
<br /> ,.� �"._ ,: - offered to settle a claim, tlien Lender may coltect the insurance proceeds.Lender may use the p r o c e e d s to rep�w'i 1 -'�=r=
<br /> • :�� < restore the Property or to pay sums secured by tlus Security tnstrument,whethec ot not then due.'The 3�day peri d �`__,_
<br /> � - begin when the notice ia given. shall not estend or � ^.
<br /> � ,..�, Unle�I,ende,and Borrawer othernise agree in writing,anY application of proceeds t�princiPal �
<br /> ...- .'.'.';°,�:s postPone the due date Qi the manffiIY PaY����f�t°in,paragcaPhs I and 2 or change the amqunt of the payments. �..�..---
<br /> r � t Ip under paraBraPh 21 the PtopertY is aa(uired by l.ettder,Borrower's right w auy insuraaca policies snd proceeds � _
<br /> �„Vt,
<br />`''�,��- --.-���°�'?�. cesulting from damage to the PropertY Pnor to the acquisitioa shatl pass to Lender to the estent of the sums seeured by �:;,.::
<br /> `+��,.;;: ;. ;; .. . this Secunty Instroment immediately pr►ot to the a�%4u�sition. ___^
<br /> �}�' 6.(?ccvpancy.Preservation,biaintenaace and Protectioa of the Pcopertp;.Borruwer's Loaa Applicstion;
<br /> . Leaseholds.Borrower sha11 occupY,establisb,and use the Propertq as Borrower's pnncipal�as Borrowe�s�g nci yg -`--
<br /> .. ..�. affer the esecution of this Security Instromer►t and shall continue to ac%cupy the Ptoperty Pn P� —_
<br /> �sidence for at least one year aftet the date of occupaticy.unless Lender otheravise agreas it�writing�which consent shall
<br /> ., r seut be unreasonabty withhetd,or unless estenvating circumstances�dec�r�io teyor coBm�mi w�st on the P percy. .
<br />: .� . �:_:�i; . shall not d�stmy,damage ar impair tfze Property,e11ow the PropertY �
<br /> . �..�;;:��� Borrower s'ha1�be in default if any forYeiwre action or praceediu�.whether civi!or criminal,is begun that ia Lendec's
<br /> , �!.•�-�y' good faith�udgment could result in forEeiture of the Property or othe�a+isa matenally impair the lien created bY thas
<br /> , '. .-; Security Insuument or I.ender's secur�ty interest. Bosrower map core snch a default and reinstate,as Provide8 imm
<br /> . h 28 by caus'ss�g the action or praceeding to be dismissed with a ruling tha� in I.endet's goad faith __�
<br />::��::.. ,�'�,;.:.'.�,:'' paraS�P � • • or other material impairment o4 the lien =
<br /> ;=�� � � determination.Precludes forfeiture of the Borrowers�ntetest in ttie FropeatY. ____
<br /> � created by this Security Instrument or Lender's securitY.�nte�s�•B°n°����so be in detault if Bdnower.during
<br />- ` . ' the laan application ptocess. $ave materially fatse or�naccutate infosmatio:s or statementa to 1.ender for failed to -
<br /> . � � • provide Lender with any matetial information)in conae�tion with the loan evidenced by.the Note.including,but not -
<br /> ' . limited to, representations conceming BorroNer's accupancy ot the Property as a principal residence.If tfiis Security ----
<br /> � instrument is on a leasehoid,.Borrower shail complY with all the provisions of the lease.Ii Bortower acquires fee titis to
<br /> ' . . ! the Property,the leasehold end tha fee tide sha11 not merge unless I.ender agree.s to the merger in writing.
<br /> ��� ..�� 7.Protection of Lender's RigLte ia the Propestytoi B�a ng that may si�icantl�a�fect Lender s n'gt►��ethe
<br /> ' conteined in this Security Instrument.oc there is a le�al p -
<br /> - ` PropertY (such as a proceeding in benkruptaY. prabate, far condemnation ot forfeiMire or to enforce taws or
<br /> � . . regulations),then 1-eader may do and pay far whatever ia necessasy to Protoct tha valuo'of the Propert9 and Lende�''s `-
<br /> �.`.;(� right�tn the PropertY.1-e�►des''s actians may ipc��de paYing any suma secwzed by a lien wluch has pnority over this
<br /> � '� • . .. .� Security Instrument,aPpearing in wurt.pay'�nS s�asonable attorneys'fees and entering on the Property to make repaira __.-
<br /> Although Lender may taka action under this paragraph 7,1.e1►der does not have to do so. �_��-
<br /> � A�sy amounts disbursed by Lender under thia pategaph?shaU become additional debt of Borrower secured by this
<br /> � �',..':��', Security Instrument.Unless Honower and Lender agree to other terms of paymen�these amounts shall bear intetest _-
<br /> � � �'rom the date of diabursement at the Note rate and sha11 be payable,with interest,upon notice from Lender to Bonower -
<br /> . .. . requesting payment. --:
<br /> � - � .� 8.MortSage Iasuraace.If Lender required mortgage insurance as a condition of ea�g�����.�f��y ___
<br /> � �'��-� Security lnstrument.Borrower shall pay the premiums required w maintain the mortgag ' �_
<br /> •���.:5i't: e insurance coverage required by Lender iapses or ceases to be�n effect.Borrowet shall pay.tAe —T.
<br /> � reason,the moRgag �=
<br /> " , premiums t�equited to o btain coverage s�b s t a n t i a l l y e q u ivalent to the mort gage insurance previously in effe�t.aE a cosc ",�_:
<br /> � , ' substantially equivalent to the wst to Borrower oi the mortgage insurance previously in effect.from an alternate �,�
<br /> � ' � . mortgage insurer approveA by Lender. If substantialty equivalent mortgage insurance coverage is noL available. �_:.
<br /> ` $vnower shall pay w Lendes each month a sum equal to one-twelfth of tha yearly morigage insurence premium being
<br /> �� � paid by Bnrtower when the insurance coverage lapsed or ceased w be in effect.Lender wifi accept.use and retain these �;�_
<br /> ' �, � .. payments as e loss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required.
<br /> . ' . ~ form 3028�40
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