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<br /> 5. Hu�rd nr Property Insurancc. wurn���rr ,h�ll kc�p A�e impruvcment. nmv rxititin�! ur lic � < < <m thc
<br /> Pruperty insurcd ag:�in,t Ic�ss by tirr. h�uard�mrludc�l within thr tcrm "cxt�:ndcd r��vcragc" .md unY ��thcr hai;�ral.. inrludinti
<br /> Ilaud;�sr ilooding, k�r«�hich Lrndrr rryuirr�insuruucc."I'his in+uranrc�hall hc nmintainrd in Ihr anu�unt�;►nJ(ur Il,c periixln
<br /> that Lender require�."fhc in.ur:uire rurrirr pruvi�ling dM in+ur:u�rc ,hall bc cltu.�n hy iiurru�vrr ,uh�r:t u, i.cu�l�i'+ .i��p���t.►!
<br /> which tihull not bc unrcasouuhly �cithhcld. If H�n�m�vcrfsil+to nu�intain covcragc dc}crihrd uh��vc. lxndrr may. at l.cndcr'�
<br /> optian.obtnin cuvcrugc tu prntcct l.endrr'ti rightti in thc Pro}xrty in ucrc�rdancc with parugr:►pl�7.
<br /> All in�urancc {�c�lirics and rencwalti shull hc acccp�nblc to l.end�r und �hull inrludc a titanJ:ird mortgugc clau+c. l.�nilcr —
<br /> shull have the right ro hold thc policics and renew:ds. It'Lerxlcr require�. Sarrower shull prompQy givc tu lxndcr:ill rcreipts of
<br /> paid premiums and i•encw�d nrnices. In thc event of loss,&�rm�vcr tihall givc prompl natice tu thc imurancc canicr and l.cndcr.
<br /> Lender may inake praof of loss if nut made promptly by Botmwcr. __
<br /> Unless Lender and Borrow�er othenvise agree in ���riti�g,insurance proceeds shall be applied to restc�ration or repuir of the
<br /> Property damlgod. if the restoration or repair is econarnirally feasible und Lender's security is not Iessenc�i.If the restorstion or
<br /> repair is nat economically feasible or Lensier's security would be lessened.the insurance procetds shull be npplied to the snms
<br /> secured by thls Socurity Inst�ument, whether or not thcn due, with any excess paiJ to Borrower. If 8orrowcr abundons t(te
<br /> Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to s�ttle u claim,then
<br /> Lender may cotlect the insur�u�ce procecds. Lender nuy use the proseecls to repair or restore the Pmperty or to pay sums i
<br /> secured by this Security Instrument,whether or not then due.The 30-day period will �egin when the natice is given.
<br /> Unless xxnder and Borrower othenvise abree in writins, any application of proceeds to principal shall not extend or
<br /> postpone the due date of thr monthly payments referred eo in paragraphs 1 und 2 or change the amount of the payments. If
<br /> under paragraph 21 the PropeRy is acquired by L.ender,Sorrower's right to any insurance policics tuid procoeds resulting from
<br /> darnage to the Pcoperry prior to the acquisition shall pass to l.ender to the extent of the sums secured by this Security Instrument
<br /> immediately prior to the acquisition.
<br /> 6.Occupancy,Preservation,Maintenance and Protection of the PropeMy;Borrower's Loan AppUcatbn;I.easeholds.
<br /> Borrower shaU occupy. establish.and use the Property as Bono�ver's principal residence within sixty days after the cxeeution of
<br /> this Security Instrument and shull continue to occupy the Propecty us Borro�uer's principal residence for at least one year after
<br /> the dute of cecupancy, unless Lender otherwise agrees in wricing. which consent shall not be unreasonably withheld.or unless
<br /> excenuaii��x ci�cut�istan:� cxist '�h=�!: »re !"-':^n� Anrmwer's control. Borrower shall not destroy. damage or impair the
<br /> P�operty. apow the Property to deteriarate, or commit wastc on the Property. Bonowcr shall be in defntilt iF nny fortetture
<br /> action or procceding,whether civil or criminal. is begun that in Lender's sood faith jud�ment could result in forfeiture of the
<br /> Properry or othemise materially impair the lien cresited by this Security Instrument or Lender's security interest. Bono�ver may
<br /> cute such a default and reinstate.as provided in paragraph 18. by causing the action or proceeding to be disnussed with a ruling
<br /> that, in Lender's good faith deterntinadon, precludes forfc3ture of the Borrawer's interest in the Property or other material
<br /> impairment of the lien ci�eatad by this Securiry Instrument or Lender's security interest. Bonower shall also be In default if
<br /> Borrower,ducing tha loan application ptocess,save materially false or inaccurate informatton or statementr,to Lender(or failod
<br /> to provide L,ender with any material inf�rmatian)in conne;ction with the loan evtdenced by the Note,including, but not limitod
<br /> to,representations conceming Borrower's occupancy of the Property as a prineipal resldence. If this 5ecurity Instrument is nn a
<br /> leasehold. Borrower shall comply with all ths provisions of the lease. If Burrower acquires fee title to the Property, the
<br /> leusehold und the fet title shall not merge unless Lender ngrees to the merger in writing.
<br /> 7.Protectton of Lender's Rights in the Property. If Bcirrower fails to perform the covenants nnd agc+eEments contained in
<br /> this Security Instrument,or there is a legnl proceeding thnt may significuntly uffect Lender's rights in the Property (such as a
<br /> proceeding in bankeuptcy.probate.for condemnation or forfeit�re or to enforce laws or mrulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of�he Property and Lender's rights in the Property. I.ender's actions may
<br /> include paying any sums securod by a lien which hes priority over this Security Instrument, appearing in court, paying
<br /> reasonable attomeys'fees and entering on the Prop�rty to muke reyairs.Although Lender may take action under this paragrc�ph
<br /> 7,Lender does not have to do so.
<br /> Any amounts disbursod by Lender under this paragraph 7 shall become a.dditional debt of Borrower secured by this
<br /> Securiry Instrument. Unless Bonower und Lender agree to other terms of payment,these amounts shall bear interest frum the
<br /> date of disbursement at the Note rate and shall be payable. with intemst. upon notice from L.ender to BoROwer requesting
<br /> payment.
<br /> S.Mortgnge Insurance•If L.ender required monguge insurance as a condition of making the loun secured by thls Securiry
<br /> Instn;ment, Bomower shull pay the premiums roquired to maintain the mortgage insurance tn effect. If, for any reason. the
<br /> mortgage insurance coverage required by L,ender lapses or ceases to be in ef£r..ci, 13onower shall pay the prcmiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurance previousty in offect, at a cost substantially equivulent to the
<br /> cost to Boirower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If
<br /> substantiully equivalent mortgage ir�st�rance coverage is not avail�ble. Bocrower shall pay to i,ender each month a sum equal to
<br /> one-twelfth of the yearly mortgage��surance premium being puid by Borcower when the insurence covere�e lapscd or ceased to
<br /> be in effect. Lender wil!accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Lc,ss reserve
<br /> Form 3028 9l80
<br /> F.ge 3 01 6
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