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<br /> 5. H�zard ar Prv�perty lnsurunce. Borruwer sh.ill kccp thc improvcments nrnv exititio� un c�naftcr crcctcd un thc
<br /> Pmperty insurcd ugainst I�ns by I�iro, huiurds inrluded within thc tcrm "cxtendcd covcr.iFc" und any othcr hwur�i., inrludin�;
<br /> flnndc or tlaxling. f��r wliich l.�cndcr rcyuires intiuranrc. This insurarcc.hall hc muint+unrd in thc amount,;uid li�r thc peri�xts
<br /> that l.rndcr rcquircs.Thr imurancc curricr pr��viding thc insurancc shcdl hr choun hy qurruwcr �uhjcrt iu l.�ndrr'ti uppruvul
<br /> which shall nnt hc unma�nn.ihl,y wi�hhcld. If Rorrowcr Fails to tnainlain cc�vcrugc dctirrih�d ah��vc. IAndcr may. at Lrndcr'� _
<br /> opNun.obt�in covcragc to protcct Lcndcr's rights in thc Pr��perty in accurduncc with par.�gruph 7.
<br /> All insurance pollcies und renewulti +hull be nrccptable to l.cnder and shall include u stundurd mu»gugc rluusc. l.cnder
<br /> shnll havc the right to huld thc poUcics und renewuls. If L.endcr rcquires,Borrowcr sh:.11 pramptly givc to l.endcr nll rcccipts of
<br /> paid premiums and renewul natices.[n die event of lass, Barrower shall give prampt notice to the insurance carrier und l.ei�der.
<br /> Lendcr may mnl;c pr.wf of I�ss if not madc promptly by BaROwcr.
<br /> Unlcss[.cnder and Borrower nthenvi�e agree in writing, insurance procceds shnll be lpplicd to restnrati�m ar rcpair ot'the
<br /> Property dumagal.tf the restoration or repuir is economicnlly feasible und I.endcr's security iF not Iesscncd.If thc resu�rntion or
<br /> rcpair is not economically feassible or Lender's security would be lessecicd, �t►e insurance proceeds shall be upplied to the.r•ums
<br /> . secured by this Securfty instrument, whether ar nat then due, with any excess psid to Borrower. If Borrower abandans the
<br /> Property,or daes not answer within 30 days u notice from I.ender that the insurance carrier huF offercd to settle a clulm,then
<br /> L.ender muy collect the insurance proceeds. Lender may use the procecds to repair or restom the Propc:rty or to pzy sums
<br /> sccured by this Scxurity Instrument,whether or not then due.The 3U-dny period wlll begin when the notice i�siven.
<br /> � Unless Lender and Bo�rower otherwlsc agr..r in writing, uny appltcatian of proceeilc m principal shal! nat extend or _
<br /> • postpane the due dute of the monthly payments referred to in puragraphs E and 2 or change the umount of the payments. If
<br /> under parngrnph 21 the Propeny is acquired by Lender, Borrower's right to any Insurancc policies and procceds nesulting from
<br /> damage to the Property prior to the acquisition shall pass ta L.ender to the ex�cat Af the sums securad by this Security Instrument
<br /> immediately prior to the acquisiti�n.
<br /> 6.Occupancy,P��servatton,�tYlntenano4 and Protectlon ot the Pr��er4y;Borrower's Loan AppllcaUom,Leaseholds.
<br /> � Borrower shall oca:py�,establish.and use the F�r��erty ns Borrower's prir.ci�l ri�sidence within sixty duys after the execudon of
<br /> , thls Security Instrumeni and shall continue te occ�py the PropeRy as Bcm��a�er's principal residence for nt lesist ona year after
<br /> the date of occupancy. unless Lender otherwisc agrees in w-tis?ag. which consent shall not be unreasonubly withheld,or unless
<br /> extenuating circumstances exist which are beyond Borrox�ui s control. Borrower shall not destroy, damage or impair the
<br /> Property, allow the Property to deteriorate,�r commtt wust:on the Property. Bonower shall be in default if any forfeiture
<br /> , ��t��n 3��ra:�r�3l�g, :�hrilS�t r���;�;�;;;;;;�,;?. ;��eou��'-� ;� �Pn�!Pr����x�d faith judement could result in forf�lture of the
<br /> �roperty or othenvise materially impair the?i�n�reated by this Security Instrument or Lender's security interest.Borrower muy
<br /> cure such a default and reinstate, as}�rovIded in para$raph lR, by causing the action or proceeding to be dismissed with a ruling
<br /> that, in I.ender's good faith determination, pr�cludes forFeiture af the Borrower's interest in the Property or other materixl
<br /> . impaimxnt of the lien created by this Securic}• Instrument or L.ender's�ecuriry interest. Bonower shall ulso be in default it
<br /> Boaower.during the lasn applicadon process,Gave materially false o:i��crurnte infoTmation or stutements to I.ender(or failod
<br /> to provide L.ender�viYh any material information)in connection with che lonn evidenced by the Note.including,but not limited
<br /> " to.representadons conceming Bonower's occupancy of the Property as a princlpal resldence. If this Sccurity Instrument is on a
<br /> ; leaschold. Borrower shull comply with all the provisions of the lcasc. If Bonower acquires fce tttle to the Property. the
<br /> leasehold and the fec title shall not n�erge unless Lender agrees to the merger in writing.
<br /> ee
<br /> 7.Protectfon of Lende�'s R(ghls In the Property. If Borrower fails to perform the covenants and agreemenu contained In
<br /> � this Security In�uument,or there is a legal procecding that may significantly uffect Lender's rights In the Property(such as a
<br /> � proceeding in bankruptcy,pmbate,for condemnation or forfeit�re or to enforce laws or regulations).then Lender may do and
<br /> pay for whatcver is necessary to protect thc value of thc Property and Lender's rlghts in the Property. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over this Securlty Instrument. uppeadng in court. paying
<br /> . reasonable attomeys'fees nnd entering on the Property to make repairs.,Although I.ender may take action under this paragraph
<br /> " 7,Lcnder d�es not have to do so. •
<br /> � Any amounts disbursed by Lender under this paragrnph 7 shall become addltional debt of Bonower secural by this
<br /> Sccurity Instrument. Unless Borrowor and Lender agree to ether tcrms of payment,these amounts shall bear interest from the
<br /> ' dau of disbursement at the Note rate and shall be payable. with intcrest. upon notice from L.ender ta Borrower requesting
<br /> payment.
<br /> 8.Mortgage Insurance.If L.ender requirad mortgage insurance as a conditton of making the loan secured by this Secueity
<br /> � Instnunent. Borrower shall pay the prcmiums sequim,d to maintain cl�;. mortgage insurance in effect. If, for any reason, the �
<br /> mortgage insurnnoe coverage rcyuired by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to ;
<br /> obtain ccwernge substantially equivalent to the mortguge insurance previously in effect,at u cost substant�ally equivalent to the
<br /> . cost to Borrower of the mortgage insurance previously in effect, fram�.� alternate mortgage insurer approvai by L.e�xler. If
<br /> substanti�lly equivalent mortgnge insurance cuverage fs not available, Borrower shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premfum being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> be in effect. l.ender will accept. use and retain these payments as n loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Fam 3028 9180
<br /> Pape 3 018
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