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<br /> 5. H�zwrd or Prnperly Insurance. Borrowcr shaU kecp thc impravcments now exisu't��or�hlr�ft���aT on the
<br /> Property Insurcd ugainst lass by fire, hazards included within the term "cxtendal covcrage" �utd any other hauirds, including
<br /> tloods or tlaoding,for which Lender requins insurance. Thie tnsurance shall be maintsined in the amounts und for the pedods
<br /> thut Lender requires. The insurance cnrcier provlding the insurnnce shall be chosen by Borrower subject tn Lender's approval
<br /> whlch shall not be unrcasonably withheld.If Fwrrower fails to maintain coverage described above, l.ender may, at Lender's
<br /> optIon,obtuin coverage to protect Lender's rtghts in the Propecty in accordance with paragraph 7.
<br /> All insurance policies und renewals shali be acceptable to Lendor and shaQ include a stendurd mortgage cluuse. L.ender
<br /> shall huve the rlght to hold thc paltcIea und renewals.If I.endcr reyulres,Bonower shali prampdy give to Lender all receipts of
<br /> paid premiums and renewal notices.In the event af lass,Borrower shall gtve prompt notice to the insurance carrler and Lender.
<br /> I.ender may make proof of lass if not made promptly by Boaower.
<br /> Unless L,endcr and Borrower otherwjse agrcc in wrlUng,insurance proceeds shall be applied to restoratIon or repalr of the
<br /> Praperty damaged.if the restorntlon or repair is ecunomically feasible and Lender's securiry is not lessened.If the restoration or
<br /> repuir is not economicttlly feaslble or I,ender's saurity would be lessened.the Insurance proceeds shall be appliod to the sums
<br /> secured by this SecurFty Instnrment. whether or not then due, w3th any excess paid to Borrower. If Borrower abandons the
<br /> Property, or does not answer within 30 days a notice fl•om Lcnder that the insurance carrier has offered to settlo a claim, then
<br /> L.ender may collect the insurance proceecis. L.ender may use the proceeds to repair or restore the Property or to pay sums
<br /> securai by this Security Instrument,whUher nr not then due.The 30-dsy perlod will begln when the notIce Is gIven.
<br /> Unless Lender and Borrower otlurwiae agree in writing. any applicatton of procceds to pr3ncipal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the paymcnts. If
<br /> under paragraph 21 the Propecty Is ucquired by Lender, Borrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Property prlor to the acqutsItion shell pass to Lender to the extent of the sums secured by this SecurIty Instrument
<br /> ' immediately prior to the acyuisition.
<br /> - 6. Occu�ptncy,Preyervation,MAintenance and ProtecNon of the Property;Borrower'R Loan Applicatlon;I.easelwlds.
<br /> , Bc�rrower shall occupy. estabUsh.nnd use the Pmperty as Borrower's principal nsidence within sixty days after the execution of
<br /> this Security Inst�ument and shall continue to occupy the Property as Borrower's principal msldence for at least one year after
<br /> � the date of occupancy, unlcss L.ender otherwise agrees in writIns, which consent shall not be uru+wsonably wIthheld. or unless
<br /> , extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy. demage or impair the
<br /> PropertY, allow the Property to deteriorate.or commit waste on the Property. Aorrow�r cf��l hw �n �i�fe��ls If�ny f4tf�itt�r!
<br /> ��' actlon or proca.•ding, whethercivil ar edminai.is begun that in L.ender's good faith judgment could result in forfeiture of the
<br /> i�. Aroperty os otherwise materiully impair the lien creuted by this Security Instrument or Lender's secutity intetrst. Borrower may
<br /> cure such a default and reinstate. as provided in paragraph 18.by causing the action or proceeding to be dismissod with a ruling
<br /> that, in Lcnder's good feith deternunation,prceludes forFeiture of the aorrower's interest in the Property or othar maudal
<br /> impaimunt of the lien created by thts Secudty Instcument or i.ender's secur�ty Interest. Borrower ahall also be in defuult If
<br /> Borrower.during the loan application process. gave materially falsc or inaccurate information or statements to Lender(or feilod
<br /> to provjde Lender wtth any material informatton)in wnnection with the loan evid�nced by the Note,including,but not limited
<br /> to.representatIons conceming Borrower's oaupancy of the Propecty as a principal t�esidence. If thls Security Instrument is on a
<br /> IeASehold, Borrower shall comply with ail the provisions of the lease. If Bonower acquires fce t►de to the Property. the
<br /> leaschold and the fa title shall not merge unless I.ender agroes to the merger in wdt�ng.
<br /> '. 7.PR+otection ot Lender's Rlghts in the Property.If Borrower fails to perForm the covenants and agreements contained in
<br /> this Security Instrument.or there is a legal prooeoding that may significantly affect Lender's dghts in the Property(such as a
<br /> � proceeding in bankntptcy,probau,for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and
<br /> �. pay for whatever is necessary to protect the value of the Property and Lender's rights in the Pro�eriy. Gender's actions may
<br /> �* include paying any sums secured by u lien which has priority over this Secudty Instrument. appearing in court, paying
<br /> •� reasonxble attorneys'fces and entering on tho Property to make repairs.Although Lender may teke nction under this paragraph
<br /> � 7.Lender dces not have to do so.
<br /> ,�:. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower securod by thjs
<br /> , Security Instrument.Unless Borrower and Lender agree to other terms of payment. these amounts shall beur intcrest from the
<br /> ' cWte of disbursement at the Notc rate and shall be payable, with interest, upon notice from I.ender to Botrower roquesdng
<br /> � payment.
<br /> 8.Mortgage Iasuranct.If I.ender requircd mortgage insurance as a condition of making the loan sesured by this Security
<br /> Instrumcnt. Bonower shall pay thc premiums requircd to maintain the mortgage insurance in effect. If, for any reason. the
<br /> ' mortgagc insurance coverage requiced by I.ender lapses or ceases to be in effect,�orrower shall pay the premIums rcqui�ed to
<br /> '. obtain c:overuge substunti�lly equivulent to the mortgage insurance previously in ePfect,at a wst substantially equivalent to the
<br /> cost to Borrower of the mortgage insurance previoJlsly in effect, from an alternate mortgage tnsurer approved by Lender. If
<br /> ' substantially equivalent mortgege insurance coverage is not available, Banower shall pay to I.ender each month a sum equel to
<br /> one-tweltth of the yearly mortga�e insurance pmmtum being paid by Borrower when the insurunce coverage lapsod or ceased to
<br /> � be in effect.Lender will accept,use and rctain these payments as a loss reserve in lieu of mortguge insurance. Loss reserve
<br /> Form 3028 8180
<br /> � P�ye 3 of 0
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