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<br /> 5, Hwcard or PropeKy InsurAnce. Horrowcr sh�dl kecp tfia in prtlE�Rl�lft��w`�existing or liercuftcr erected on the
<br /> Propeny insural against loss by firc, hazurds included wf�hin the term °extendecf coveruge" und any other hu7.arJs, including
<br /> ticxids or flocxling, for which Laxicr requircti insurance. This insuruncc shall be maintainccl in thc umoi,n►s und for the perials
<br /> tlut L.ender requires. The insurnnc�currier providing►he insurunce shull bc chosen by l3orrower subject ta Lender's upproval
<br /> which chall rwt be unreasonnbly withhcld. If Iiorrowcr fuiis t�i muintnin c�verage Jcscribcd utx�ve, I.cndcr may, at I.ender's
<br /> oqi�n,�btain caverags to protect l.ender's rights in the Propeny in uccor�funce with puragrnph 7.
<br /> All insurance policie,9 and renewnls shall be ucceptuble to I.endcr nnd shult include n standard mo��tgage clause. Lender
<br /> shall have the right to hold the policles and renewals, If Lender rcyulrc.r•, &+rrower shall promptly give to I.ender�II receipts af
<br /> peid premiums nnd renewol notices.In the event of locs,Aorrower shull give prompt notice ro the insurunce c:�rrier nnd Lender.
<br /> l,ender may make proaf of loss if not made pinmptly by Borrowcr.
<br /> Unless I.ender und Borcower otherwise agree in writing, insurance proceeds shull be r+pplied ta restorntion or repair of the
<br /> Propeny damaqod,if the restoration or repair is economically fcasible uncf Len�ler's security is not Icssened. [f thc restoration or
<br /> repair is not economically feasible or l.ender's securi►y would be lessenai, the insurance procecds shall be upplied tu the sums
<br /> secueed by this Security Instrument, whcther or not then due, with any excass paid ta Borrowcr. If Borrowcr abandons the
<br /> Property, or does not answer within 30 days a natice from l.erxler that the ir.surance carrier has offered to settle a claim, then
<br /> Lender may collect the insurance procuds. Lerxler may use the procoecls ta repair or restore che hroperty or ta pay sums
<br /> securcd by this Security Instrument,whether or not then due.The 30-day periad will begin when►he natice is givcn.
<br /> Unless J.ender and Ibrrower otherwise agra in wriling, any applicatian of proceals to principal shall not extend or
<br /> postpone the due date of tne monthly payments rcferred to in paragrapt�s 1 a�xi 2 or chsnge the amount of the payments. If
<br /> under paragraph 21 the Property is acquiral by Lendcr, Bonower's right to nny insurance policies and proceecls resulting from
<br /> dunage to the Property prior tu the acquisition shall pass to l.ender to the exteni of the sums secured by this Security Instrument
<br /> immcdiatcly priar to the acquisition.
<br /> 6.Oocuponcy,Preservwtlon, Maintenxnce and Proteatlon ot the Property;Borrower's l.o�n Applicatian; I.easehdds•
<br /> Borrower shall occupy,establish,and u3e the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security Instrument and shull continue to occupy the Propeny as Borrower's principal residence for nt leaat one year after
<br /> the date of occupency,unless Lender otherwise agrees in writing, which cor_cent shall not be unreasonably withheld, or unless
<br /> extenuating ctrcumstances exist which nre beyond Borrower's control. Borrower shall noi destroy, damage or impair tho
<br /> Propeny, allow the Property to dcteriorate, or commit waste on the Property. Bonower shall be in default if any forfcxture
<br /> xtion or proceeding, whether civil or criminal, Is begun that in L.ender's goal faith judgment could result in forfeiture af the
<br /> Propsrty or otherwise materially impair the lien created by this Sacurity instivment or Lender'�security interest.Borrower may
<br /> cur�such a default and reinstatC,as providaf in paragrxph 18, by causing the action or procading to be dismissai with a tuling
<br /> that. in T.ander's good falth determination, precludes forfeiture of the Borrower's inte�tist in the Property or other matednl
<br /> !r:gs!.^.*.:ent ef!he lien rM���t hy �hi� Security Instrument or I.ender's security interest. Borrower shall alsa be in default if
<br /> 8orrower,during the loan application process,gave materially false or inaccurate informetion or statements to Lender(or fvlui
<br /> to provide Lender with any materiel information)in connection with the loan evidenced by the Note,including,but not limited
<br /> tu, representations concerning Borrower's occupancy of the Pr�perty as a principel residence. If this SocuriRy Insuument is on a
<br /> leasehold, Aorcower shall comply with all the provisions of the lease. If Borrower acquiras fee title to the Property, the
<br /> Ita.schold and the fa title shall not merge unless Lender ngras to the merger in writing.
<br /> 7. Protection of Lender's Rights in/he Property.If Br>rrower fails to perform the covsnants and agraments wntained in
<br /> this Security Instrument, or there is a legal proceeding that may significantly affect I.ender's rights in the Propedy (such es a
<br /> procading in bankruptcy,pivbate, for condemnatton or forfeiture or to enforce laws or regulations), then L.ender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions mr.y
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> rcasonable attorneys'fecs and entering on►he Property to make repairs. Although I..ender may take action under this paragraph
<br /> 1, I.ender das not huve to do so.
<br /> Any amounts disbursed by Lender under this paragn►ph '1 shall become additional debt of Borrower secured by this
<br /> Sccurity Instrument. Unless Borrower and L.ender agrce to other terms of paynxnt, thesc amounts shall bear interest from the
<br /> date of disburse�nent at the Note rate and shall be payable, with interest, upon notice from I.ender to Borrower reyuesting
<br /> payment.
<br /> 8. Mortgage Insurance.If I.ender required mortgage insurance us a condition of making the lonn secured by this Securi:y
<br /> Instrurrxnt. i3orrower shall pay the premiums required to maintain the martgage insurance in effxt. If, for any reason, the
<br /> mongage insurance covera�e requircd by l.tnder iapses ur ctases to be in effect, Borrower shal! pay the premiums required to
<br /> obtain wverage substantially zquivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> mst to Borrower of the mortgage insurance previou�ly in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substantielly eqi►ivalent mortgage insurance coverage is not available, Borrower shall pay to Lcnder each month a sum equal to
<br /> one•twelfth of the yearly mortgage insurunce premium being paid by Borrower when the insurance roveraga lapscd or ceased to
<br /> be in effect.Lender will accept,usc and retain these payments as a loss reserve in lieu of mortguge insurnncc. L.oss rescrve
<br /> Form 3028 8/9U
<br /> Ppa3o10
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