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<br />:�� � S. Haxard or Aroperty Insur�nce. Borrower shall keep thc i�nprovcmcnts now existing or hercaftcr crected on thc
<br /> Property insured ageinst los� by fire, harards Includcd within th� term "extendcd covcragc" and any othcr ha�ards, including
<br /> " `,�' floods ur flaod(ng, tar which Lender requlrea insurancc.This insurance shall bc maintuined in thc amoun�s and for thc periods
<br />'�`, that C.ender requirce. The insur�nce carrier providing tbe insurance shall be chosen by Borrower subject to L.ender's approval
<br />-�,;.r:,, which shell not tfe unrcasonably withheld. If Borrower fafis to maintaln coverage described above, L.ender may, at I.ender's
<br /> -�''"�� option,obtain coverege to�rrotcet L.ender's righis in the Property In accordance wizh paragraph 7.
<br />__;,;,;;o�„� � All insurwue policies a»J rrnewuls shall Ue acceptable to I..ender and shall include a stundard mortgage clause. Lendcr •'
<br /> ,�,�� shall have the right to hold the policic3 and renewals. If l.cndcr requires, Borrower shall prom�tly give to Lender all receipts of
<br /> '_,.,.:..r�i� paid premiums and renewal notices. In the event of loss,Borrower shall give prompt notice to the insurance carrier and l.ender.
<br /> -��'�° L.ender may make proof of losa If not made promptly by Borrower,
<br /> Unless L.ender and Borrawer otherwisc agrec in writing, insurana procads shall be applied ta restoration or repair of the
<br /> �. �3 Property damaged, lf the restoration or np�ir is economically feasible and Lendcr's security is not lessenect. If the restoration or
<br /> '.'�`� repair is not economlcally feasible or Lender's security wauld be lessened, the insurance proceeds shaU be applicd to the sums
<br /> 4�.,n .
<br />_��,.�,� secured by thls Securiry instrument, whether or not then due, with any exass paid to Borrowor. If Borrower abandons the
<br />_-_ Property, or daes not answer wi�hin 30 days a notice from Lender diat the insurance carrier has offered to settle a claim, then
<br />,��%�af�� Lender may coilect the insurance procads. Lender may use the proceeds ro repair or restore the Property or to pay sums
<br /> 1L�. secured by this Securiry Instrument,whether or not then due.The 30-day period will begin when the noticc is given.
<br />-- _-- Unless Lender and Borrawer otherwise agree in wri[ing, any ap�lication of proceeds [o principal shall not extend or
<br /> __„ -�� postpone the due date of the monthty payments referred to in paragraphs 1 and 2 ur change the amount of thc payments. If
<br />^f F under paragraph 21 the Propeny is acquired by I.ender,Borrower's right to any insurance policies and proceeds resulting from
<br />`-`-�� damage ro the Property prior to the acquieition shall pass to Lender to the extent of rhe sums secured by this Securiry Instrument
<br /> �;a�r� immodi�tely prior to the acquisition,
<br />_�`'"- 6.Occuponcy,Preservptian, Maintenance and Protectiun o[the Property;Borrower's Loan Appllcallon;I.eoseltolds.
<br /> _ Fsorrower shall occupy, establish,and use the Property as Borrawer's principal residence within sixty days after the execution of
<br /> .-`-'�� this Security Instrument and shall wntinue to occupy the Propeny as Bonower's principal residence for at least one year after
<br /> --_- the date of occupancy, unless Ltnder otherwise agities in writing, which consent shall not be unreasonably withheld, or unless
<br /> ,_;L�y�a extenuating circums!ances exiat which aze beyond Bonower's control. Borrower shall not destroy, damage or impnir the
<br /> -=_�`�� Propeny, allow the Property ta deteriorate, or commit waste on the Property. Borrower shall be in defauit if any forfeiturc
<br /> - _ - action or procading, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture af the
<br /> _-,��� Froperty or otherwise materially impair the lien crcated by this Securiry Instrument or I.ender's security interest. BO[iOWCI' tlliy
<br /> ��:�,�� eure sueh a cleiault and reinstate,as provided in pazagraph i8, by causing ti►e action or proceeding to oe dismissed wi[h a ruling
<br /> - - - that, in Lender's good faith detennination, precludes forfeiture of[hc Borrower's interest in the Property or other material
<br /> `"'=�� impairment of the lien created by this Securiry Instrument or Lender's security interest. Borrower shall also be in default if
<br /> `�'�i Borrower,during the loan applic�tion process,gave materially false or inaccurate information or statementa to Lender(or failed
<br /> �°--- to provide L.ender with any material infarmation) in connection with the loan evidenced by the Note,including. but not limlta!
<br /> '�----- to,repreuntations conceming Borrower's occupancy of the Propeny as a principal residena. If this Security Instn►ment is on a
<br /> --- leasehold, Bonower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Propeny, the
<br /> leasehold and the fa title shall 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 agreements contained in
<br />-. ��� this Security Instrument, or there is a legal proceeding that may significantly affect I..ender's rights in the Property (such as a
<br /> procecding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may da and
<br /> pay for whatever is necessary to protect the value of the Propeny and L.endcr's rights ln the Propcny. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> — reasonable attorneys' fees and entering on the Property to make repairs. Although I..ender may tafce action under this paragraph.
<br /> 7,Lender does not have to do so,
<br /> �,� -- Any amounts disbursed by l.ender undu this paragraph 7 shall become additional debt of Borrower secured by this
<br /> ---- 5ecurity Irtstcument,Unless Borcower and Lender agree to other terms of payment, these amounts shall beaz interest from ihe
<br /> -°--� date of disbursement at the No�e rate and shall be payable, wiAi interest, upon notice fcom T.ender to Borrower requesting
<br />..,'°'� payment.
<br /> 8. Mortgage Insuranee. If Lender required mongage insurance,as a condition of making the loan secured by this Security
<br /> Instrument, Bonower shall �ay the premiucns requir�d to maintain the mortgage insurance in effat. If, for any reason, the
<br /> `$�� mortgage insurance coverage required by I.ender lapses or ceases to�be in effect, Bonower shall pay thc premiums required to
<br /> :�,.._�� obtain covers�ge substantlally equivalent to the moagage insurance prev[ously in effect,at a cost substantially equivalent to the
<br /> _-� � cost ro BorrAwer af the n�ortgage insurance previously in effect, from an alternate mortgage insurer approved by L.ender.if
<br /> -�;s_._,��
<br />-i�;;�.,�� . substantially equivalent mortgage insurance coverage is not available, Dorrower shall pay to Lender each month a sum equal to
<br /> _ ��•�;� one-twclfth of the ycariy mortgage insurance premium being paid by E3orrower when the insurance covcrage lapsed or ccased to
<br /> .s,i��_ti::,.
<br /> ••y�.`�', be in effxt. l.ender will accept,use and retuin these payments as a loss reserve in lieu of mortgage insurance. Loss reserve _
<br /> 4 �•Y _
<br /> Form 3028 9180 =
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