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<br /> �`,,;..;:.'j� 5. Huxurd or Property Insurunce. Burrawcr s6nll kcep thc improvcments naw existing on c�iraftcr crected on thc
<br />��ti��� Properry insurcd nguinst loss by fire, huzards included within th� term "cxtended caverugd' und any other hucards, including
<br /> ---� floods or flo�xling, f��r wliich l.cndcr requires insuruncc. This insuruncc shull bc maintained in tne amounts nnd fnr thc periods
<br /> _�-�r�x� that L.cndcr rcqufres. Thc insurancc carricr providing thc insuruncc shall bc choscn by Anrrowcr suhjcct to Lcndcr's upproval
<br /> � - -- which sh:dl not be unrcusonubly withhcld, [f aorrower fujls to nuaint►iin covcrugc described ubovc, Lcnder may, at l.cndcr's
<br />' -�:�+� option,obtain cavcr.igc to protcct I.cndcr's rights in thc Praperry in accordnncc with purngraph 7. `
<br /> All insurauce pulici�� und rencwuls shaU be acceptable to I.�nder�ind shiill include u standurd mortgAge cluuse. Lender
<br /> shull havc thc right to hold thc policics und renewuls. If Lcndcr requires,sorrowcr shull promptly givc to Lender ull receipts of
<br /> � paid premiums nnd renewid notices. In the event of loss,Borrower shall give prompt notice[o the insurance cnrrier and Lender.
<br /> I.ender mny makc proaf of loss if not mudc prumqtly by Barrower. �����y shuli bc u hed to restoration or repair of thc
<br /> ;,,�--- Unlcss Lcndor und Borrowcr othcrwisc agrcc in writing,insurancc p. PP�
<br />-"='4`��� Property damaged, if the restoration ar repair is economically feasihle und I.ender's security is not lessened.If the restoration or
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<br /> ___;;� repuir is not econamicully feasible or l..ender's secur.ty would be Iessened. the insm•ance proceeds shnll be applied ta t e sums _
<br /> -_— secured by this 5ecurit,y Instrument, whe4hcr or not then due, with any excess paid to Borrower. If Borrawer abandons the
<br /> — Propeny, or does not unswer within 30 duys a notice from I.ender that the insurunce carrier has offered to settle a claim, ther
<br /> ---- Lcndcr mny callect the insurnnce proceeds. Lender may usc thc pracceds to repair or restore the Property or to pay sums
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<br /> —= s�:cured by this Security Instrument, whether or not then due.The 30•duy period will begin when the notice is given.
<br /> --� Unless Lender and Borrower otherwise agree in writing, any applicatian of proceeds to principal shall not extend or
<br /> —'- postpone the due date of the monthly payments referrcd to in paragraphs 1 and 2 or changc the amount of the payments If
<br />- _— under paragraph 21 the Property is ucquired l�y Lender, Borruwec's right to any insurance policies snd proceeds raculting from _
<br /> ____�__ dan�age to the ProR�rty prior to the ucquisition shall pass to I..ender ro the extcnt of the sums secured by this Security Instrumeut
<br />-�-,:�b�•� immediately prior to the acquisition.
<br /> "``_'��'� 6.Occupency, Preservation,Maintenance and Protectton of the Property;Borrower's Loan Applicatlon;I.easeholds.
<br /> �::z.�a�a Borrower shull cxxupy, estublish,nnd use the Property as Borrower's principal resldence within sixty days after the exeeution of
<br /> v� -= this Security Instrument and shall cuntinue to occupy the Property as Borr�wer's principal residence for at least one year after
<br />- =''� the date of occupancy, uniess Lender otherwise agrees in writing, �vhich consent shall not be unreasanably withheld, or unless
<br />•-°_-=:,'� extenuntins circumstances exist which are beyond Borrower's control. Borrawer shall not destroy, damage or impair the
<br /> ------- I�roperty, allow the Propeny to deteriorute, or commit waste on thc Propeny. Borrower shull be in default if any forfeiture
<br /> --- action or praceeding, whether civil or criminal, is begun that in Lender's good fnith judgment could result in forfeiture of tae
<br />---_ - Property or othcrwise materially impair thc lien created by this Securiry Instrument or Lendcr's security intcrest. Borrower may
<br /> cure such a defnult and reinstate,as provided in parag�npi� l"o,by ::«using il�c a�sion r.r p*ececding s�he dicmissed with u Tulin�
<br /> — that, in Lendcr's gocd faith detcrmination, precludes forfeiturc of the Borrowcr's intcrest in the Property or other material
<br /> =_— impairment of the lien created by this Securiry Instrumcnt or L,endcr's securtty interest. Borrower shalt also be in default if
<br /> Harrower,during the loun application process,gaive muterially false or inaccurnte informntion or statements to I.ender(or failed
<br /> -- _ to pravide Lender with any matcrial information)in connection with the loun evidenccd by the Note,including,but not limited
<br /> �T�� to, representations conceming Barrower's occupuncy of the Properry:►s a principal residence. [f this Security Instrument is on a
<br /> ------ le.lschald, Borrower shall comply with all the provisions of the lcase. If Horrower acquires fee title to the Property, the
<br /> �� Icasehold und the fee title shall not mer�e unless L.endcr agrees ro thc mergcr in writing.
<br /> "�''� 7.Protection of I.ender's Ri�;hts in tl�e I'rupeMy.If Horrower fuils to perform the covenants and agreements contained in
<br /> ___�- this Security Instrument, or there is a legal proceeding that may significantly affec:t Lei�der's rishts in the Property (such as a
<br /> --��� proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> — pay for whatevcr is neces�nry to protect the value of the Property and Lender's rights in the Fropeny. Lender's actions mny
<br /> -��f� include paying any sums secured by a lien which has priority over this S�ecurity Instrument, appcaring in court, paying
<br /> — reasonable attorneys' fecs and cntcring on thc Property ta make repuirs. Although L.ender may t�lce action under this paragraph
<br /> = 7.Lender dces not have to do so.
<br />---= Any amounts disbursed by Lcndcr under this paragraph 7 shall become additinnal debt of Borrower �ecured by this
<br /> --_= Security Instrument, Unless Bonowcr and L.ender agree to other terms of payment, thesc umounts shull bear interest f�om the
<br /> �;��. datc o�'disbursemcnt at thc Note rAte and shall be payuble, with interest, upon notice from Lender to Barrower rcquesting
<br /> -- __ payment.
<br /> -="`"� 8.Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br />='-�`=^:� Insuvment, Borrowcr shall pay tlte prcmiu►ns required to muintain the mortgage insurancc in cffect. If, for any reason, the
<br />___T`-���" mortgage insurance coverage required by Lender lapses or ccases to be in effect, Borrower shaU puy the premiums required to
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<br /> _ r obtair�coverage substantiulty cyuivalent to the mortguge insurance prcviously in effect, at a cost substantinlly equivalcnt to t c
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<br /> •-, ;, „ cost to Borrower of the mortguge insurunce previously in effect, from an alternate mortgage insurer approved by I,ender. If
<br /> substantially cquivulent mortgage insurnnce cuvcmgc is not availablc,Borrowcr shall pay to Lcndcr each month a sum equal to
<br /> one-twelfth of the yearly mortguge insurance premium being paid by Borrower when the insurance coverage lupsed or ceased to
<br /> '' hc in cffect. Lcndcr will acccpt, usc and retain these paymcnts as a lotis rescrvc in licu uf mortga�e insurancc. Loss reserve
<br /> Form 30�8 9190
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