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<br /> .5. IIazard or Property Insumnce. Borrower shall keep ti�c improvements now cxisting ot hereaRcr erected on tha
<br /> Property lnsurod agalnst loss by fire,haaarcls �.�cludtd wlth'sn the term 'extendcd coverage" And any othcr haza�ds, including
<br /> floais or floociing. for whlch L.ender requires imurance.This in�urance shall be maintained ln the Amounts and for tho pedods
<br /> that L.cnder requires, Thc inaurance carricr providing the inaurance stiall be chosen by Bonnwer subJect to Lender's approval
<br /> which shall not be unreasonably withheld. If Borrower faila to maintain coveragc desGribed abovc, I..cnder may, at Lender'a
<br /> option,obtain coverage to pirotc�t L.ender'e rights in the Propetty in accordance with paragraph 7,
<br /> All lnsurance polactea and renewals shall be acceptable to Lender and shall include a stundard mortgage clause. I..ender
<br /> shall have the rlght to hold the{wlicles and renewals. If l.ender requirea,Borrowee sl�all promptly give tu Lcnder all reccipts of �
<br /> paid premium�and renewnl notices. in the event of loss,Borrower shall glve prornpt notice to the insura�ice carrier and Lender.
<br /> L,onder may malce proof of loss if not►nade promptly by&,nower. '
<br /> Unless l..ender end Borrower otherwtse agrec in wdting,insurance proceeds shal!bc applied to restoration or repair of the
<br /> Praperty damaged. if thG restoration�r npair Is ecAnomlcally feuiblc and Lender's sxurity is not lessencd.If the restoration or
<br /> cepalr is not ecanomlcally foasfble or Lender's seeuricy would be lessencd, the insurance proceeds sholl be applied to the aums
<br /> secured by thls Secutity lnstrumant, whether or not then du�, with any eacess paid to Borrower. If IIorrowcr abandons the
<br /> Property, or das not answer within 3Q days a notice from Lender that the insurance r,arrier has offered to settle a claim, then
<br /> Lender may collect the Insurance ptoceeds. l.ender may use the procoeds to repair or restore the Property or to pay sums
<br /> secured by this Secu�ity Instrument,whether or not then due.The 30•day period will begin when the notice is given.
<br /> Unless Lender and Borrowor otlierwise agree in writing, any application of procads to principal shall not extend or
<br /> postpone the due date of the monthly paymer�ts nferred to in paragraphs 1 and 2 or change the amount of the Qayments. If under
<br /> paragraph 21 the Praperty is acquired by I..ender, Borrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Propa�ty prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security leistrument
<br /> immediately pdor to the acquisition.
<br /> 6. Occups�ncy,Preservatlon,Malntenance and Protectlon o[the Property;Borrower's I.oun Appllcation;Ltaseholds.
<br /> Borrower shall occupy.wtablish,and use the Property as Borrower's principal residcna within sixty days after the execution of
<br /> this Security Instrament and shall continuc to occupy the Property as Botrower's principal resldence for at least one year efter
<br /> the date of occupancy, unless Lender otharwise agre�s in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, d�mage or impair the
<br /> Property, allow the Property to detcriorate, �r commlt waste on the Property. Borrower shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeitun of the
<br /> Property or otherwiu materially impair the lien created by this Sxurity Instrument or Lender's security intenst.Borrower may
<br /> cun such a defuult and reinstate,as pravided in paragraph 18,by causing the action or proceeding to be diymissed with A ruling
<br /> that, in Lender's good faith detecmination, ptecludes [orfeitun o1 the Borrowcr's in��rest 1►►iYic Fra�:ri'y o:o�".cr r.`.�'•-�1�!
<br /> impairn�ent of tha lien created by this Security Instrument or I.ender's security interest. Borrower shall also be in default lf
<br /> Borrower,during[he loan application process,gave materially false or inaccurate information or statements to Lender(or feiled
<br /> to provide I..ender with any material informatlon)in connection with the loan evldenced by the Note, including,but not limited
<br /> to,representations conceming Borrower's occupancy of the Property as a principal residence. If this Securiry Instrumeat ta on a
<br /> leas�hold, Borrower shall wmply with ali thc provisions of the laase. If Borrower acquires fa title to the Property, the
<br /> leasehold and the fa title shall not merge unless Lendtr agras to the merger in writing.
<br /> 7.Protectioa ot I.eader's Rlghts In the Prope�rty.If Borrower fails to perform the covenants and agraments contained in
<br /> this Secudty Inatrument,or then is a legal proceeding that may significantly affect Ixnder's rights in the Property (such as a
<br /> procading in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulati�na), then Lender nu�y do suul
<br /> pay for whatever is nc�essary to protect the value of the Property and Lender's rights in the Property. Lender's actio�u may
<br /> include paying any sums securai by a lien which hac priority over this Security Instrurzxnt. appearing in court, paying
<br /> reasonable attomeys' fees and entcring on the Property to make repairs.Although Lender may take action under this paragraph
<br /> 7,Lender does not have to do so.
<br /> �lny amounts disburscd by Lender under this paragraph 7 shall become addittonal debt of Borrower secused by this
<br /> Security instniment. Unless Sonower and L.ender agrec to other terms of paynunt,these amounts shall bear intenst from the
<br /> datc of disbursement at the Note rate and sliall be payable, with interest, u}wn notice from Lender to Borrower nquating
<br /> payment.
<br /> 8,Mortgage Insarnnce.If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> Instrument, Aorrower shall pay the premiums required to maintain the mortgage ineurance ln effxt. if, fox any reason, the
<br /> mortgage insuraaa cova�ago required by Lender lapses or ceases to be in effect, Bonowtr shall pay the premiums required to
<br /> ohtain coverage substantially equivalont to the mortgage insurance previously in effect, ai a cost substantially equivalent to the
<br /> cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by �endec. If
<br /> substantially equivalent mortgage insurance coverage is not available, F3oiTOwer shall pay to Lender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Bonower when the insurance coverage lapsed or ceasod to
<br /> be in effect.L,ender will accept,usc and retain these payments as a loss reserve in lieu of mortgage insurance. Loss rrserve
<br />_ Form 3028 9190
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