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<br /> { 5.Hazard or Praperty Ineurance. Borrawcr`n�c�P��C�ndedmovcrage' and any othcrchazardc inc din�cfl�ds °� '� ��
<br /> � insurcd ageinst lass by fuc,haaards included w�th nods lbat 1.cnder ••�?-
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<br /> flooding,for which Lender rcquires insuranca•"I1►is insurance shall be muintained in the amounts nnd far the pe � , .
<br /> requires.The insurance eHrr�er providing the insurcu�ce shall be chosen by Borrower subject to I..ender':+approval which shull nat i .
<br /> be unrcasonably withhcld. If Sonower fails w meintain coverage dcscribed above, 1.cnder may, at Lcndcr's opuon, obtam I �,s�y
<br /> � covcragc to protcct Lendcr's rights in thc Property in accordancc with parngraph 7. � ' .�L__;•,
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<br /> � All insurnncc policics and rencwals shall bc acccptablc to L.cndcr and shall includc a standar c��ndcr all rccc pts of paid � i =-
<br /> have the right to hold thc policies and renewals,If Lcnder requires,Bonower shall promptly g � ;`,6=—�-
<br /> premiums and renewal nodces.In the event of loss,Borrower shall give prompt notice co the insurance carrier and L.ender.L.ender ; .� �'
<br /> may make proof of loss if not madc promptiy by Borrowcr. , ___ —
<br /> Untess Lender and Borrower otherwise agree in writing,insurance Proceed5'hall be aPPU�d �restoradon or repair of ihe
<br /> , propeny damaged,if the restorauan or repair is economically feasiblc and Lender's securiry is not Icssencd.If�����c sums � 4 -
<br /> repair is not economically feasible or Lender's security would be lessened,the insurance Procecds shall be app' �
<br /> � sccured by thLs Security Instrument, whether or not ��md�nder that the insurance can►�r has coffered to settte a claim sthen � _
<br /> Properiy,or docs not answer within 30 days a noucc fro -
<br /> ' Lender may collect the insurance proceeds.Lender may use the proceeds to repair or restore the Property or to pay sums secured �
<br /> i pod wiA be in when thc notice is given. ,_
<br /> by this 5ecurity Instrument,whether or not then due.T'he 30-day pe hcalion of roceeds to prit►cipal shall not extcnd or postpone
<br /> Unless Lender and Borrower otherwise agree in writing.any app' P
<br /> thc due date of thc monthly payments referred to in parabnaPhs 1 and 2 or change the amount of ihe payments.If under paragraph
<br /> 21 1he Property is acquiretl by Lender,Borrower's riBht to any insurai►ce Policies and proceeds resulting from damuSe to the
<br /> property prior w the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediutely
<br /> � prior to the acquisition. Borrower's Loan Application; Leascholds.
<br /> 6.Occupancy,Preservatioa,Matntenance and Protection of the Property; _
<br /> Borrower shall occupy,eatablish,and use the Property as Borrower's principal residence within sixry daYs after ihe execudon of '�.•���—
<br /> + this Security Instrument and shall conpnue to occupy�e���Y hBh consent shall not be�u easonably�withheld, orf unless � _
<br /> date of occupancy, unless Lender atherwise agrees 8
<br />_ ,- �x�P���aring circumstances exist which are beyond Bonower's coniroL Borrower shall not desuoy,damage or impair the ProP�rtY, ,.'� .�:_
<br /> allow the Property hall t1c in default �f any forfciturc action or . -
<br /> to detcriorate, or commit waste on the Froperly. Buicower s ., __
<br /> proceeding,whether civil or criminal,is begun that in Lender's gaod faith judgtt►ent could result in forfeiture of the Property or � . • �r_
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<br /> otherwise materi a l ly im pair che lien created by this Security Instrument or Lender's security interesG Boaower may cure such a �', ,�:_
<br /> � default and reinstatc, as provlded in pa�ub►�z+ph 18, by causing the action or proceedin8 to be clismis s e c l wi t h a rulin 8 tha t, � •. ,, ry:-
<br /> Lender's good faith determination,precludes forfeiwrc of the Bonower's inu:rest in the Property ar other matcriul impairment of
<br /> the lien created by this Securiry Instrument or Lender's��o�au'on or statements co 1.ender(orfailedlto Poo�d�rl.ender w�th � �;' i.
<br /> loan applicauon process,gave materially falsu or maceura ,
<br /> any material information) in connec6on with the loan evidenced by the Note, including, but not limited to, representations y•
<br /> conceming Borrower's occupancy of the Property ss a principal residenca If this Security Insirument is on a lcasehold,Bonower }R^�.��'�-
<br /> shaU comply wi[h all the provisions of the lease.If Borrower acquires fec title to thc Property,the lcasehald and the fce dde shall _,*,' _
<br /> not mergc anless L.ender ngrees w the merger in wriung. —
<br /> 7.ProtecNon ot Lender's Rights in the Praperty. If Borrower fails to perform ihe covenanis and agceements co such as a � -�
<br /> this Security Instrument,or there is a legal praceeding that may signiCicandy affect Lender's rights in the Property( ��=_
<br /> pr��g ln b�pky,probate.for condemnation or forfei�a�nder'si ghts n the Pcoperty,L.ender snacaonsy ay incWde ��`
<br /> for whatevcr is necessary to protect ihe vaiuc of the Property in court, paying reasonable ' :;:�"i"°���
<br /> � pay[ng any sums sccured by a lien which has priority over this Sccurity Insuument, appearin8 h�.Lender ,,:fix
<br /> x attorneys' fees and entering on the Propeny co make repairs. Although Lender may take acdon under this parusraP °:,���
<br /> docs not havc to do so. ,_ �'—�"'��
<br /> , Any amounts disbucsed by Lender under this paragraph 7 shall become additional debt of Borcower secured by this Security •';�:s:�_
<br /> �� 3,�,��`';;;,,.�.,.
<br /> InstrumenG Unless Borrower and Lcndcr agree to othcr tcrms of payment, thcsc amounts shall bear interest from�th i date of ,���r;;r ';A..��
<br /> disbursement at the Note rate and�hall be payable,with interest,upcm notice from Lender to Borrower n,c{uesting p Y
<br /> 8.Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured bY this Sec�uity +lr�
<br /> Insuument, Bonower shall pay thc premiums requircd to maintain ihc mortgage insurancc in effecG If. for any reason, the � ,:
<br /> mortgage insurance coverage required by Lender lapses or ceases co be ir►effect,Borrower shall pay the premiums required to ,
<br /> obtain coveragc substuntially cquivalcnt to thc mortgagc insurancc prcviously in cffec6 at a cost substantially equivalcnt to thc �
<br /> cost to Borrower of the rnortgage insurance previously in effect, from an altemate mongage insurer approved by Lender. If ., y
<br /> `I substantiully ecluivalent mortgage insurance coverage is not available,Sorrower shall pay to Lcnder each month a sum equal to ,
<br /> i one-twelflh of the yearly mortgage insurance premium bcing paid by Borcower when the insurance coveragc lapsed or ceased co
<br /> � Ue in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9190
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<br /> ��•6R(NE)leet2l.o� Paqe 3 0�6
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