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<br />--- � 5. Haznrd or Pmperly (rt�urwnce, Borrower shall keep tho improvements now exisdng on c�rcaftcr crected on the
<br /> Property intund egainst lo�s by fire, hazards included withln the term "extcnded co��crage" and nny other hazards, including
<br /> ---- iloods or flooding, €ur whlch Lender requires InsurAnce. Thia insurance shall be maintained in the amounts and for the periods
<br /> �� that Lendor rcquires. The in�ur�nce carrier pravlding Uic insurance shell be chosen by Borrower subJect ta L.ender's appraval
<br />-.:.-��a which shall not be unrcasonably withheid, If 8ortow�r fails to maintain coverage described abavc, l.cndcr may, at I..ender's
<br />__-�-_��� apdon,obt�in coverage to protxt Lender's rigNte in the Propeny in�accordance with paragraph 7.
<br /> _��� All insurance pollclea and renewale shall be acceptable to l.ender and shall inclt�de a standard mortgage clause. Lender
<br /> _—— shrll have the right to hald the pol(ci�s and renewc.le. If l.ender requires, Bc�rruwer shaU promptly give to l.ender all receipts of
<br /> -`�'�''� paid premiums and renewa!notices.In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lendor.
<br /> ° I..ender mny meke proof of lus�if not made promptly by Borrowcr. -
<br />__�� Unless L.ender and Borrower otherwise agrec in writing, inaurance proceeds shall be applisd to nst�ration or repair of the
<br /> ; Pruperty damaged, if tho reatoeation or repair is economically fcasible nnd Leader's security is not lessened.If the restorasion or
<br /> ___—= repair is not econ�mic�lly feasfble or l,ender's sceuri�y would be lessenul, the insurance prceeeds shall be applied to the sums
<br />-��--- secured by this Sec�uity Instrumsnt, whethcr or not thcn due, with any excess paid to Borrowcr. If Borrowcr abandons the
<br /> �� Aroperty, or does not Answer witl�in 30 days a notice from L.ender that the insurance cazrier has offered to settle a claim, then
<br /> __� L.ender may colicet the insurance proceuls. Lender may use the procoeds to repair or restore the Property or to pay sums
<br /> securcd by this Security Instrument,whcther or not ttten due.The 30-day period wip begin when the notice is given.
<br /> � Unless i.a�der and Borrower otherwise agree in writing, any application of procteds to principal shall not cxtend or
<br /> postpone the due date of the manthly payments referred to in paragraphs 1 and 2 or chaz�ge the amount of the payments. If
<br /> under paragraph 21 the Propeny is acquired by Lender, f3orrower's right to any insurana policies and proceais nsulting from
<br /> damage to the Property prtor to the acquisition shall pass to L.ender to thc cxtent of the sums sxured by this Security Instmmcnt
<br /> -- immedietely nrinr to the acyuisition.
<br /> 6.OccupAncy, Pnservption�MointenAnce and Protectlon ot the Property; Dorrower's LoAn Applkation;La�sehold5.
<br /> Bonower sh�ll occupy,establixh,and use the Property as Borrower's principal nsidcnce within siaty days after the eaecution of
<br /> this Securiry Instrument and shall continue to cecupy the Propeny as Borrower's principal residence for at least one year after
<br /> the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not be unreasonabiy withheld, or unless
<br /> extenuating circunistances exist which are bryond Borrowe►•'s control. Borrower shall not destroy, damage or impair the
<br /> — Propeny, allaw thc Property to deteriarate, or commit waste on the Propercy. Borrower shali be in default if ar►y forFeiture
<br /> action ur procceding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture�f the
<br /> Aropeny or otherwise materially impair the lien created by this Security fnstrument or C.ender's security interest.Borcower may
<br /> cure such a default and reinstate, as provided in paragraph 18,by causing the action or proce�ing to be dismissed with a ruling
<br /> that, in Lender's good faith determinatlon, precludes forfeiture of the Bonower's interest in �he Dro�rry or other mxterial
<br /> i►npairmeat of the lien cr�ated by this Security Instrument or Lender's security interest, Bonower shall also be in default if
<br /> Borrower,during the loan application process,gave materially falsc or inaccurate infomyation or statements to Lender(or failed
<br /> to provide I.ender with any material informAtion)in connection wtth the loan evidencal by the Note.inc�uding,but not limital
<br /> to, representYtions conceminR Borrower's occupancy of the Property as a princip�l reaidence. If this Securi[y Instrument is on a
<br /> leasehold, Bonower shall comply with all the provisions of the lease. lf Bonower acquires fee title to the Propeny, the
<br /> leasehold and the fee title shali not merge unless I.ender agrees to the merger in writing.
<br /> 7.Protection ot I.ender's Rights in the Property.If Borrower fails to perform the covenants and agtaments contained in
<br /> thls Security Instrument, or there is a legal prceading that cnay significantly affect Lendex's rights in the Aropeny(such as a
<br /> proceeding in bAnkiuptcy, probate, for condemnation or forfeiture or to enforce laws or regulations),then l.endor may do and
<br /> pay for whuever is necessary to protxt the value of the P�nperty and Lender's rights in the Property. I.endec'a actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrumcnt, appearing in court, paying
<br /> reawnable attomeys' fee.9 and cntering on the Propeny to make repairs, Although Lender may take actlon under this paragraph
<br /> 7,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additi�nal debt of Borrower secured by this
<br /> Security Ynstrument. Unless Bonower and Lender agree to other tern�s of payment, thesc amounts shd[ bear intere�t fmm the
<br /> date of disbursement at th� Notc rate and shall be payable, with interest, upon notice from Lendcr to Borrower cr�u�sting
<br /> p�yment.
<br /> S.Mortg�ge I�uurnnce. If Lender required mongage insurance as a cendition of m�Jcing the loan secured by this Securiry
<br /> __ Instrument, Borcower shail pay the premiums aequircd to maintain the mortgage insurance in effect. If, for any reason, the
<br /> mortgage insuranc=coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to
<br /> — obtain coverage sabstantially equivalent to the mortgage insurancr,previously in effect. at a cost substantiaUy equivalent to the
<br /> - - -- c;ost to Borcawer of the mortgage insurance previously in effect, fc�om u► altematc mortgage insunr approved by Lender. lf
<br /> ___ substantially equivalent mortgage insurance coverage is not available, Bormwer shall pay to l.ender e�ch month a sum equal to
<br /> _— onatwdfth of the ycady mortgaga insurance premiwn being paid by Borrowcr when the insurancc coverage lapsed or ceased to
<br /> --= be in effxt. L.ender will accept,use and retain these payments as a lass reserve in lieu of mortgage insurance. Loss reserve
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