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<br /> 5. Hazard or Property Insupunce. B��RUwer tihall keep the impru�•emcnts nnw exi+ting ur hercaftcr erected oa the
<br /> .`�. :' Pmperty insured againxt luss by fim. h:ia�ni+ induded wiehin the term °exrended ca�•erage" and:+ny uther h:u.ardti. inclading
<br /> � �, .f flai�ds ar flo�xlitl€. fi+r ahirh lxnder myuire� in.uran��e• This insutamr shall be m3int:uned in thc amounty:uid fur the periods ;, ��
<br /> �� that Lenaer requires. The iwur.uic�earrier prueiding the insur:utre.hall he choun by Borru�ccr+abject to L.�atder'.appnwal ,..
<br /> ' � ' �chich shall not he unrra.YOnably �vithheid. lf Botro���er fails to maintain wver�ge describc�d above. Lender may_ at Lender s � •
<br /> � .-�' optinn.nbtein coverage t�prateiK Lender'.rights in the Propeny in accor�l.an�Y�vitb paragtaph 7. `;:,:`.
<br />- •=-•=�� A!1 it�suranee policies and mnewals shall t+e acceptable to Lender and�iwll include a standani mongage ciau�e. l.ender <�.a.,�_•
<br /> : sh31�haye the cig[u tfl hold the policies and renewals.If Lender requires.Borrow•er sha11 promptly give to Lender aQ receipu uf �- �
<br /> .�. . paid premiums and renewal notices. !n the event of loss.Horrower shaq give prampt notice co the insuiance carrier and Leader. �
<br /> � • Lender may make pruof of toss if not made promptty by Borrower. •
<br /> � � Unless Lender and Borrower othenvise agme in writing.insurance pmceeds shall be aPplied to restoratian or repair of the
<br /> , ' �" Aroperty damaged,if the restoration or repair is economiralty feasible and Lender's security is not lessened.[f the restorarion or _
<br /> repair is noi economicaily feasible or l.eader•'s securiry would 6e lessened.the insarance pra��s sha116e applied to the swns
<br /> . :' secured by this Seauity Insuument. whether or not then due. wiEb any escess paid to Borrower. If Borrawer abandons the
<br /> , - Property,or does aot answer within 30 days a notice from L.ender that the insuranoe carrier has offered to settle a claim. then
<br /> _. , : Lender may colleet the insurmtce prooePds. I.ender rteay tue the proceeds to repair or restore the Property or to pay sums ..
<br /> - se�a►red by this Securety Instrument.whether or not then dae.The 30-day period wi116egin when the notice is given.
<br /> � ' • Unless Lender and Borrower othenvise agcce in wciting. aay application of proc�eds to principai shall not e�ctend or ` '�i
<br /> � - ` ' gostpone the due date of the moathly payments refert�d to in paragraPhs 1 and Z or change the amount of the paymeau. If ��
<br /> .. - under paragraph 21 the Properiy is aa{uired by Ixnder. Borrower's right to arry insurance policies and pmceeds nsulting from
<br /> _ ��;, �.�_` �� damage w the Property prior to the ucquisition shall pass eo I.eader to the extent of the sums secu�ed by tLis Security Instrument
<br /> � ` immediately prior to the aoquisitian. .
<br /> " . 6.Qocapancy,preservation,Maiateaance and Peotectton of the Pmpesty;Borrower's Loan Applicatlon;I.easehoids.
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<br /> � BoTrower shall accupy.establish.and use the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security Insuument and shall watinue to occupy the Properey as Borrower's principal residence for at least one year after
<br /> • - thc date of oxapancy;ualess Lender othera+ise agrees in writing,which cansent shall not 6e unreasonably withheld,or unless
<br /> ,, e�ctenuaung ci�stances exist which are beyond Borrower's control. Eorrower shall not destroy. damage or impair tlte -":•�
<br /> � - Property, aUa�the Property to deteriorate. or somm�waste on the Property Borrower shall 6e in default if any forfeitare
<br /> ' • ;;a��s�;. :�; . action or ptaweding,whether civil or criminal.is began that in I.ender's good faith judgment aould resnit in forfeiEure of the __ =
<br /> : :`="?':.°� ' ' Property or mtberwise materialty impair e�Iien created by this S�+Instcument or Lender's�nirity interest.8orcower may �. ,
<br /> � cure such a defaWt and reinstate,as pravi�ed in paragraph 18,hy causing the action or praceed.�$ro be dismissed with a ratsng ���-
<br /> � ��z,� ;���. .. that. in Lender's good faith detem�ination. precludes forfeiture of the Borrower's i�eerest in the Property or other mateciai -
<br /> . u-�airment uf the Hen created by this Security Inst�ument or Lender's security ina��st. Borrower shall also be in defaWt if
<br /> - Bonower,dnsing the loan application process,gave mateiially false mr inaccurate inforcnarion or statements oo I.ender(or fraled
<br /> to prov[de lzader witL any material infarmation)in coMection wit3�the toan evideaced by the Note,including,but not li�cc�d -
<br /> . to.representations conceming Borrower's occupancy of the Pmperty as a principal residence.If this Security instn�atQnt is on a -
<br /> � � � trdsehold, Borrower shall comply with all the provisi�:�.s of the lease. If Borrower acquices fee titte ta the ProPertY• the "_
<br /> ' . • . leasehold and the fee title shall not merge unless l.ender agrees to the merger in writing. __
<br /> � .', ` � 7.Ft�2�dtoa of LEnder's Rtghts in the Property.If Borrow er fails to perform the covenanu and agreements contai�ed iu _ .
<br /> .;ts``�> ' this Secusity Ynstniment,or there is a legal pmceeding that may si3-^�:�ccandy affect Lender's rights in the PrapenY (scda ac a --
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<br />_� •,• � pmcee�ing in bankrnptcy,probate.for candemnation or forfeiture or to enforce taws or r e g u l a tions�.t hen L e n der m a y B��a d
<br /> '_ • pay for whatever is necessary to protect the value of the Property and 1.ender's ri�hts in the Property.Lender's actions may =
<br /> � ' ' 'cnctude paying any swns s�ecured by a lien which has priority over this 5ewr�ry Instrument� appearing in ooun. paying ___
<br /> _ . � � reasonable attomeys'fees and entering on the Property to make repaus.Although I.ender may take acbion under this paragxph
<br /> �'� �.. 7.Lendes does not have to do so. •
<br /> �� . � A�ry arnounts disbursed by Lender under tius paragraph 7 s"�ati become additional debt of Borrower secut�ed by shis •
<br /> � � �ecurity Instrument. UNess Borrower and Lender agree to other terms of payment.these amounts shall bear interest&om the -
<br /> � � date of disbursement at the Note rate and shall be payable. wittv interest. upon notice from Lender to Boraower requestin� .
<br />- _ •� payment. �
<br /> `''�+'•�%� 8.Mo�tg�ge incnrwnsp.If Lender r�quired mortgage insuraran�as a wndidon of making the toan secured by this S�wiry
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<br /> � .�:',;;.'� �: Instrument. Borrower shall pay the pr�mium9 required to maintai�a the mortgage insurance in efPect. If. for any reason.the
<br /> � ' mortgage insurance coverage reqnired by Lender lapses or oeases to be in eff�.�orrower shall pay the premiwns required to -
<br /> . obtain coverage substantially eqnivalent to the mongage insuraace prevlously in effect.at a cost substantially equivalent to the _ �
<br /> cost to Borrower of the mortgage insacance previousty in effect, fivm an altemate mortgage insurer approved by Lender.If
<br /> � � - . substantialty equavalent mortgage insurance coverago is not availabte.Borrower shall pay to Lender each month a sum eqa�al to
<br /> ' � � one-twelfth of the yearly mortgage insurance premium being pald by�onower when the insurance coverage lapsed or ceased to
<br /> � . ' be in effect.Lender will aocept,use and retain thesepayments as a toss reserve in lieu of mortgage insurance. Loss reserve
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