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<br /> 5. Hazard or Pro�lr In�urance. Battawer shaU kecp the improvenients now existing ��r I�rrrafter encted on d�e
<br /> � Aruperty insureci againct lass t�y firr.,h.izards included wicliln tlie tem� "CEtCIKIt(I COVCTiI$C' ai�d any nthrr IiazxrJs. i�xluJing '� `
<br /> flu�xiti or flocxling,fur wlaich Lendar reyuires in�urarne. This iiuu�aix:e siu►ll t►c u�aintaiue.d iu the amounts atid for the pericxls
<br /> d�xt I.ender requires. 'I1i� la+ux��carxter providing the insura�e shall tx clio�en by Bnrto�ver subJn:t tu L.etxier'a oppraval r�::.
<br /> ,,,,,,,�r wliich shall nat 6r,unreasoa��ly wi�hlield. If Borcowcr fails ta maintain coverage dexdbed at�ve, Ixnder may, at Lender's ��,;.`-.
<br /> .,.. �a► uptton,ubtxin co�renBa t�ti prots:ct L.ender's dghta in the Property in Accordauce widi paragraph 7. C� '+�-: -=
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<br /> AA Insur.ince pc�lir,ic��artii r�nawal.g shall be acceptable to l.ender anc!shall Include a stamiard mongage clause. Lx�xier • .,�;,�,;.••
<br /> ,hall hnve the riIIht tra hald�6a pnlir,ias twd rer,ewals. If Lender nyuires,Botmwer shall promptly give to Lender all receipta of � z.i:.-
<br /> �- ezir•p�..
<br /> �.� puid pnmiums and renewa�l uotices. lu the event of loss,Buttuwer sl�all give prompt nntice to ti�e insurance carrier end L,end�r. � �� ;...__
<br /> I.,�nder may makc pr�sof.crf lo.s.s If not made promptly by Honawcr. �:_.
<br /> ' �� Unless Lendar und B'ar�vrer otherwise agree in wrlting,insurance proceeds shall be applied to restoration oi rcpair of tha 0 [� ,
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<br /> ProE►erty damaged,if. dia s�radon or repair is economically feasibl�and Leuder's security is tat lesset►ed. If the n�toradon or� �::-;:.--
<br /> �•' repair is nnt economicali.y f�ibla ur Lender's security wauld be less�n�d,the tnsurance procteds sUall be applied to the sums O
<br /> : �� secureci.by tLis Security Iasu.timant, whether or not then due, with any excess paid to Burrow�r. lf Borrower Abandon5 tbe ,� ,�
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<br /> •,; Pro�rty, or d�es nnt en�aror vrUbin 30 day�a notice frora Lender that the insurance carrier 1�offered to settle a claim. thea _
<br /> ' " Lxuder may collect tJxc i�su►�nce proceeds. Lender may use the proceeds to repair or restore t6e Property or to pay sums �
<br /> s secured.b}r thi�Securncy Ic�smtmrnt.,whether or not then due.The 30-day period will begin when the aotice[s givea. i�r'1:`�=:�.
<br /> IJ��)c�s Lend�r unc� &;r��ti�er otheiw►se aBree in wriung, any application of proceeds to principal sh�ll not extend or �-�T
<br /> p�►stponc d�e due dat�of them:en�aly paywents referred to in paragraphs 1 and 2 or change the amount of the paymeats.If under ��.�_".
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<br /> ��� paragraph 21 tha I�r��erty is acquired by Lender, Baaower's risht to any iasurance policies and proceeds resulrin8 fron� �-----
<br /> daniage to d�e I'm�er2y rrur to the acquisidon sUall pass to Lender to the eatent of the sums secured bY tlus Securiry In�trument ��•-"°-
<br /> inunedind:ly prior o�t�i¢uaNisidon. � "
<br /> g,p�cupancy,preserntiocr, Maintenance and Protectton of the Prop�rtyi Borrowa's Loan ApplicAtion;La�sehold9. —
<br /> Borrower shall occupy,esdblish,:uod use the Property as Borrower's principal residonce within sixty days afur the exceuaon of
<br /> this Security Instnimeat aad sLall continue to occupy the Property as Bortower's principal resdence for at least one year after
<br /> , _'___�� �he date of occupancy,unlas Lender otherwise agrees in writing, which wnsent shall not be unreasonably withbeld,or unless
<br /> ' cxtenuaang circumstances esist wt►ich are beyond Borrower's control. Borra�rer shaii nui dcsuoy. �•ag� ar i�►lssir tht
<br /> •,•`; Prop�►ty, allow the Property to deuriorate. or commit waste on th�Property. Borrower s2aa11 be in default if any forhiture
<br /> • , activa�or proceoding,wliaho=cfvil or criminal, is begun that in Lender's good faith judgment could�sult ia forfeicnre of the
<br /> Praperty or othenvise matori�lly impair the li�n created by this Security Insmiment or I.eader's security inceresc• Bonow�r may
<br /> cure sucb a default a+ncl c�ei�tate�as provIded in paragraph 18,by causins tl�ee acdon or proceeding to be dismissal v�'itth a niltn8
<br />; that, iu Lender's goad gai�h dceermination, precludes forfclture of the Bonower's interest in tUe Property or other material
<br />- • � impairmeut uf�Le iten ctratcd by this Security InstNment or t.encier's sxurity interest. Borrower shall also be in default if
<br /> � '''•; Bonowcr,during the loan�pplication p[ocess,gave materielly false or inaccurate information or statements to Lender(or failed
<br />; � ' . .:� to provide Lender with any rnaterial infomiadon)in connecdon with We loan evidenced by the Note,includtng,but mt llmited
<br />- to,npresentations conceminE Borrower's occupancy of the Property as a PrInclPal residence. If this Security Insttumeut is on a
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<br /> _ ' _.:�,,..':, leasehold, Bocrower shall comply with all tUe provislons of the lease. If Borrawer acquires fee dde to the Propercy,
<br />- � � •n�. leasehold antl the fee atle shaall aot raerge unless l.ender agrees to the merger in writing.
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<br />'� �"�• ' , • 7,Protedton of I�ender's Rl�hts in the Property.If Borrow�r fails to perform the covenants and agreements conCti�d ia
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<br />�-�.� .. tUis 5ecurity Insaument.or ttiare is a legal proceeding that may sigui6cantly affect Lende�'s rights in the Frogerty(suc as a
<br /> r. : . .��`` p��xeedll!$iII�uPiCy�Pr�b�t�e,for condemna don or fo r f eiture or to e n force l aws or n g u lationt), thon Lender may do and
<br />- • ' ��• ` pay far whauver is aeces�ry to procecc the vatue af the Property and Lender's rights in the Property. Lender's setions may
<br /> - iix:lude paying any surn�se�;ured by a liea wtvch has prlority over tlus Security Iasuument, appearing in cotut. PaYiAB
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<br />'�:,� :,;;`=:;�:�. re�sonable attorneys'fees u�d entering on the Property to tnake repairs. Although Lender may take action under this paiagraph —
<br />`� .',`:. . � � 7.Lender does not l�ave todo so.
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<br /> ' �'" '�« Any amounts disbu�d by l.tnder under this pacagraph 7 shall becomc addidon�l debt of Bortower sxural by ttds _
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<br /> ;,.. � Security Instzument. Unlas Borrower and Lender agtee to other terms of payment, these amounts shali bcu interest from the
<br />-� '�`'�� � date of disbursement at�e Note rate and shall be payable. with iaterest, upon nodce from Lender to Borrower requesting
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<br /> payment. _-
<br /> ' 8.Mort�e L�suruiee.if I.ender required mortgage insurance as a condidoa of maidng the loan secured by this Sxurity _
<br /> irutn�raent, Borrowet stiall pay thc pnmiums required ro maintain the mortgage insurance in effxt. If. for any reason. the __
<br /> . }� mongage insurance covenge required by Y.ender lapses or cexses to be in effect, Borrower shall pay the pniniums raluind to
<br /> , � � uhtain wverage substantiilly equivalent ro the mortgage ins�urance previously in effcet, at a wst substuntially equiv�lent to the ;
<br /> ccxi-t to Bonower of the m0ngag�insurance Previously in effect, from an alternxte mongage insurer approved by I.,ender. If ;;_;�_.
<br /> sutsst��tially equivalent mortgage insurance coverage is not avsilable,Bonower shall pay to Lendet each month a sum equal co 15�;_�� .
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insunwce coverage lapsed or ceased to �.:o<<
<br /> � t►�in effect. Lender willucept, use and retain these paymenu as a loss reserve in lieu of mongage insuru�ce. Loss reserve ;+_';�,
<br /> , Form 3028 9� .
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