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<br /> 5. Hazacd or Property ln�urance. Borrowcr shall kccp �hc irnprovcments nuw existing o rc�'tcr crect an thc
<br /> Prapeny insured uguinst loss by fire, hazardc i�cluded within the term 'extendeci coverage" und any other hu•r.urcls, including
<br /> floods or floaling, for whieh I.encicr rcquires insurance. Thiti insuram_e shEtll t►�maiintnined in the amounis und fi�r the pericxls
<br /> that l.ender requires. The insurance curricr providing the insurunce shall be choscn by Bormwcr tiubject to I.endcr'.r• approv;d
<br /> which shall not 6c unrcasonably witNhcld. if Burrowcr fails to maintain coveragc describcd ubovc, I.cndcr may, nt L.endcr's
<br /> aption,obtain coverage ta protect Lender's rights in the Propeny in uccordance with puragrnph 7.
<br /> All insurnnce policies and renewals shaU be ncceptnble to L.enJer and shull include a standard mortguge clause. Lender
<br /> shall have tlie right to hold thc policies and renewuls. If I.cnder rcyuires,Borrowcr shall pramptly give to Lendcr ull rcceipts of
<br /> paid premiums nnd renewal notiscs. in thc event of loss,Iiorrower sh�l l give prompt notice to the insurancc carrIer and Lender.
<br /> Lender may make proof of loss if not made promptly by Borrawer.
<br /> Unless Lender and Bonower otherwise agree in writing,insurance proceeds shall be applied to restoration o�repair af the
<br /> Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoration or
<br /> repair ls not economically feasib(e or Lender's serurity would be lessened, the insurance procceds shall be applied to the sums
<br /> secured by this Security Instrurnent, whether or not then due, wi�h any excess paid to Borrower, if Borrower abandons the
<br /> Property, or dces not answer within 30 days a notice fram Lender that the insurance carrier has offered to seple a claim, then
<br /> Lender may collect the insurance proceeds. Lender may use the prucee+is lo repair ur restore tlie Property or to pay sun�s
<br /> secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is�iven.
<br /> Unless Lender and Borrower otherwise agree in writin�, nny applicatian af proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragra�hs 1 and 2 or change the amount of the payments. If
<br /> under paragraph 21 the Property is acquired by I.ender, Bonower's ri�f�ito any insurance poliaies and ptaceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Tnstrument
<br /> immediat�ly prior to the acquisition.
<br /> 6.Occupuncy,Preservadon,Maintenance and Protection of the Property;Borrower's Loar�Applicatlon; I,easeholds.
<br /> Borrower shall occupy,establis[i,and use the Property as Borrower's principal residence within sixty days ufter the execution of
<br /> this Security Instrument and shall continue to occupy the Property as Borcower's principal residence for at least one year after
<br /> the date of occup:uicy,unless Lender otherwtse agrees in writing, which consent shatl not be unreusonably withheld, or unless
<br /> ci►ici�iidt3i�, �{fGitiiSidi'ii;2S cAiSt w�"ii��'i di2 Ficj�vl'it"� Bufiuw2i�5 Gui'itiv�.�'auiTGiv2i S�i�i fi�7t a"��.iii'Oj%. �dilidgG Ot IIi2�3SiP iIIG
<br /> Property, atlow thc Property to detcriorate. or commit wastc on thc Praperty. Bonower shall be in default if any forfeiturc
<br /> action or procecding, whether civil or criminul, i�s begun that in Lcnder's 6aod faith judgment could result in forfeiture of the
<br /> Propeny or otherwise materinlly impair the Ilen creuted by this Security Inst rument or L.ender's security interast.Borrower may
<br /> cure such a defuult nnci reinstate.as provided in paragruph 18,by cuusing Ihe action or proccaling to be dismissed with u ruling
<br /> thut, in l.c�xlcr's goai fuith determi�wdon, prccludcs forfciturc uf thc Borrower's interest in thc Propeny or other material
<br /> impuirment of thc licn creutcd by this Sccurity Instrument or Lcndcr's secudty interest. Bonower shall alsa be in dtfault if
<br /> Borrowcr,during the loan npplication pra:css,gave mutcriully false or inxcurate information or�tatements to Lender(or failod
<br /> t�provide Lender with uny materlul informution)in connection with the la�n cvidenced by the Note,including,but not limitod
<br /> to,represenwtions concerning Borrower's occupuncy of the Property ay aprincipul resideRCe. If this Security Instrument is on a
<br /> leaschuld, Bonawer sl�all comply with ali the provisions of the Icuc+c.if Borrower acquires fee title to the Property. the
<br /> leasehold and the fee title shall not merge unless Lender ngrees to the merger in writing.
<br /> 7.Protectton of I.ender's Rlghts ln the Property.If Borrower fuils to perforn�the covenanG�and agreements contained in
<br /> this Security Instrum�nt, or there is a legal proceeding that muy signifiantly uffect I.eteder's rights in the Property (such as a
<br /> proceeding in bankruptcy. probate, for condemnation or fort'eiture or te�enforce laws ur regulations),then Lender may do and
<br /> pay for whatever is necessary to protcct the value of the Property and Lender's rights in the Propeny. Lendor's actions may
<br /> include paying any sums saured by a lien which hus priority over this Security Instrument, appearin� in court, paying
<br /> rcasonable attomcys' fecs and entcring on thc Property to makc repuirs_ Although Lender may take action undcr this paragraph
<br /> 7.Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this Faragraph 7 shall become additional debt of Borrower sezured by this
<br /> Se�:urity Instrument. Unless Borrower and Lender agree to other terms of puyment, these amounts shall bear interest from the
<br /> . date of disbursement ut the Note rate und shull be puyable. with interest. upon noticc from Lender to Borro�Her requesting
<br /> paymcnt.
<br /> 8. Mortgage Insurance.If Lender required mongage insurance us acondition of muking the luan secured by this Security
<br /> Instrument, Borrower shall pay thc premiums requirc;d to muintain the mongage insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage required by Lender lupses or ceases to be in effect, Borrower shull pay the premiums required to
<br /> obtain coverage substantially ecluivalent to the mortauge insu�ance previausly in effect, ut a cost substantially equivalent to tlie
<br /> cost to Borrower of the mongc;ge insurance previously in eff�:ct, from an alternate mortgage insurer approved by [.endes. If
<br /> substuntially cquivalent mortgage insurance coverage is not availablc,Barrower shull pay to Lendcr each mnnth a sum equal to
<br /> one-twelfth of the ye:irly mortgage insurunce premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect. Lender will accept, use and retuin these puyments as a loss reserve in lieu of mortguge insurance. Loss reserve
<br /> Form 3028 9/80
<br /> � PeOe 3 of B
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