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<br /> y 5. Namrd or Property Insurance. Borrower shall keep the improvements no�v existing or hereafcer enrted on the
<br /> ' 'S` �r: P�operty insured against tuss by Gre.hazaidr included «ithio tfie tenn'eateaded coverage" and any othe�hazard�. inctuding r�.�'�
<br /> , Y. ' `� t�oods or t1aoding. for which I+ender rPquires insurance. This insurance shall tre maintained in the amounts and for the periods - _
<br /> � •;: � that Lender req�ires.The insurance u�urier pmviding tt�e inswance shall be chosen by Bonou•er.ubject to Lender's approval : <i.
<br /> .:__� � which shall not be unr�uonably withhetd. [f Borrower fails to maintain coverage described a6ave. Lender may. at [.enrier's
<br /> -•-'<•�' � option,obtain rnverage to pcotec[Lender's rights in thr Property i�i accordance with paragraph 7.
<br /> .' � �.� � A!! insutance policies and renewals shall Ne acoeptable to Lender and shall incfude a standard mortgage clause. Lendec
<br /> _. ` � � shstU ha�e the right to hold the policies and renewals.If[.ender requires.Borrower sGall promptly give to Lender att receipts of - -
<br /> ' � paid preminms and renewal natioes.ln tbe event of loss.Borrower shal!give prompt narice to tlte insurance carrier and Lender.
<br /> Lender may make pmof of loss if not r�ade promptly by Borrower.
<br /> Untsss I.eader and Borrower othetwise s��ee in writing,ituuiance proceeds shalt 6e applied w reseoration oc repair of the
<br /> . Pcoperty damaged.if the restoration or repair is econoaucally feasi'6te aad I.ender's security is not lessened.If the restaration ar — -
<br /> � . . repair is not ecoaomira4ly feasible or Lender's security would be tessen�cl,the insurance pmcceds shall be applied to the swns
<br /> ;°� �, s� by this Security Insuumeni,wGether or not then dae, arith any excess paid to Borrower. If Bomower abandons dte
<br /> Praperty.or does not answe�within 30 days a nodce from LRnder thai the insuiance ca�sier has offered to settle a claim. then _
<br /> � . ''. ' Lender may collect the insu:ance proceeds. 1.ender may use the pmceeds ta repair or restor�the Property or to pay suuis �°
<br /> ... ___ sectued b}tbis Securiry insdument.whether or not then due.The 30�day period wi11 begin when ihe notice is given. �:;�:
<br /> � Uatess Lender and Eorrower atherwise agcee in writin8, amJ aPPlication of procerds to pr.�cipal shall not extend oi �_�-=;;
<br /> • ' ;;; �` �:_=:_
<br /> ' ..t„ : posywne We due date of the monthlY paymeaits referred W in�s 1 and 2 or change the�.aunt of the Payments•E� �:��
<br /> � _ :.�....,� : �,,;�,:
<br /> f �' � ;�s ander pamg�ap6 21 the Pmperty is acquired 153r Lender.Borrowei s c�:�1t to arry insuranee poii��ies a�prooeeds resulting fc<�ra �,�
<br /> , ,,; � da�ge to the Property prior to the acquisidon shalt pass�a[.ender ta t5e estent of m�¢sums secured by this 5acu�Instrumeist :��t
<br /> '._;-.:..'•.„ ir�mrdiately prior to the acqc`y31on. ;ti'fix�`
<br /> 6.Oocapancy,Pre�s�''.lan,►Mainteaa��e a�Pta�on of t�Propesty:Borrower's l.oan Appiic�tipa�;�.easeEtolds. :
<br /> - - - Borrower sitiall oceupy..estaCc9rsL�.and use�he 1Pr+�yartl'as$orrower s pnncipal residence within sixty days after the ex�on af -
<br /> tdis 5ecvriry Insuument an��'s3ll coatinue[o aocupy t�.Pcoperty as Borrower's prineipal residence for at teast o�,y�s�er ��
<br /> ;, ei�date•of occupancyr uniess Y�ster otherwise agrees an w�iting.which oonseni shadl not be unmasonabty witi�+etd;or w�S�s ' �'-`
<br /> �.�;�_
<br /> ° ' , ,a�uating cimumstaaces e�st w�ich are beyond Bvrma•ec's wntrol. Borrower s6all not d�tray, dama�ge or impair the ,,W
<br /> ` z `y �,�`,, :�: �S�rty,allow the Property¢,�dleteriorate,ar cammic aaste on the Property. Borrowec shatl be in default if any forFeiture � �,":
<br /> ''r`'.�Y,��••: a�'d�ioa or prorev�ing.whether civii or criminal,is begun that in Lender's good faith judgment aoutd resuft in forfeiture of the `_: _
<br /> • � � �' ` Pmperty or o�erwise materiaUy itnpair the lien created by this Security Insuument or L.ender's security interest.Borrower may
<br /> , auz such a default and reinstate.as provided in paragraph 18,by causing the acxion or praceeding to be dismissed with a niling
<br /> � �� .'` that,in Lender's good faith det ��A'on.precludes forfeituse of the Borrower's interest in the Property or other matedal
<br /> ' ;;.; � `'• impairment of the lien ec�ue�by this Security Instrument'or I.ender's security interest. Bonower shall also be in Qefault if
<br /> — �e; �irrrawer.d�riag shc ta►u app!'st�tion Qrecess.gave materiaily fatse or inaccurate informarion or statements to Lender(or f�ited � -
<br /> -� -` to provide Lender witt►a�ry materiai infvrnr�tivn)in wnnection with the loan evidznced by the A1atr.ui�luding.but not Ifmitea �=-
<br /> . :�; .
<br /> �° �a; to.representatio�s conceming Borrower's occupancy of the Praperty as a principal residence.If this Security Instrument is on a
<br /> .� 1:' leasehotd. Bo:rower shall comply with all the provisionv of the lease. If Bor�ower acquires fee tide to the Property. the .
<br /> � teasehold and the fee tide shall not merge unless Lender agrees to the merger in writing. �_
<br /> f'�`:
<br />� , . � •::�, . 7.protection of Lender's Rigdts tn We Property.If�iorrower fails to�erform the wvenants and agreements contained in p _;
<br /> " � % this Security Insbvment, or the�+e is a legal proceeding that may significantIy affect Lender's righu in the Property(such aa a
<br /> � • proceeding in 6ardwptcy.pro6ate.for candemnation or forfeiture or to enforce laws or regulatIons).theen Lender may do aud. ���
<br />. . '` �-; p�gr for whatever is neoessary to protect the valae of t�e Property and Lender's righu in thc Pmperty.Lender's actions may �_:"..
<br /> . ' .�� '� i�zade paying any sums secured by a tien which has priority over this Security Iastcument. appeazing in oaurt. paying ;_
<br /> .. �_ reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may take aciion under this paragraph �::;
<br />- ' 7.Lender does not have to do so.
<br /> .� Any amounta disbursed hy Lender under this paragrnph 1 st�ali be�ome additional debt of Borrower secured by this , �=�'
<br /> _° � • c.�curity Insirument.llnless�orrowec and Lender agrce to oiher terrng of paymeru.these amounta shall hear interest from the
<br /> ��:..
<br /> -- . � . �ate of disbursement at the�Iote rate and.shall be payable, with interes� upoa�eutice fmm Lender to Borrower requesting �
<br /> payment. �=,
<br /> • ' S.Mor;gage Insurance.tf Lender required mortgage inswance av a oondition of makiag the loan secured by this Securiiy
<br /> ecu
<br /> ,.�. . �suument. Borrower shall pay the premiums required to maintain the mortgage insutance in effect. lf. foT asy reason,tY:e ���`
<br /> : miongage�nsurance wveraga roqujred by I.ender lapses or cedses to be in effed.Borrower shall pay the prescn3mns requ�red td
<br /> ' d�tain wverage substantially equivalent to th�mortga�e insurance previously in effe¢t.ac a cost substantially e�:ivatert to the -
<br /> . ., � ; cost to Borrower of the mortgage insurance previonsly in effect. from an altemate mortgage insurer appraved by Lender. If •
<br />_ . ' . • substan6ally equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to
<br />- . one-twelfth of the yeariy mortgage insurance premium being paid by Borrower whsn the insurance coverage lapsed or ceasod to —
<br /> , ,. ' be in effeM. Lender will acoept.use and retain these payments as a toss reserve in lieu of mortgage insurance. Loss r+eserve •
<br /> . ` iatm 3028 8I80 �.
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