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<br /> 5. Hazard nr Propedy Insurancc. Borrowec shall kcep thc improvcments now cxisting on c�rcuf'ter erccted on the
<br /> Pro�xxrty insutcd ugainst loss by frc, haizurds includcd within thc tcrm "C%lL'111IC(I COVCt'i1�'l'" und uny othcr h:�zards, including
<br /> fliwcls or flcwding, for which L.cndcr rcyuires insurzincc. Thiti insurnncc yhall bc muintuinal in thc umounts und for thc periocis
<br /> that L,cndcr rcquires. Thc insurnncc curricr pmviding ihc: insurancc shcdl bc chuscn hy Rnrruwcr tiuh.jcct to l.cndcr's npproval
<br /> which shull nut lx unrcatiimahly withhcld. If �ian•owcr f:iils tn muint.iin ci�vcrngc dc�crilxd ahovc, Lendc� muy,at Lcndcr's
<br /> uption,obluin covcrugc to prntcct Lendcr's rights in thc Property in ucc<>rdnncc with paragrnph 7. _
<br /> All insur+�nce poUcies and renewalti shull be ucceptable to Lender nnd shnll include a standurd mortgage clautie. L.ender
<br /> shull have the right to hold ihe policics and renewals. If Lcndcr rcquires,Rnrrowcr shall prnmpdy givc to Lendcr all rcccipts��f
<br /> puid premium.r•u�xl renew•�I noticex. In the event af I�ss, Borr�wer shall give prompt noticc to thc insuruncc carrier nnd l.cnder.
<br /> L,sndcr mny mukc proaf nf Insti if not madc pramptly by Borrawcr.
<br /> Unlcss Lender aixl Bortowcr othcrwis�ugree in writing, insurancc proccc�ls shall be applicd to rtstnration or rc�air of►he _
<br /> Property da►nuged, if the resiorntian or repair is ecunomicully f'easible und l.ender's security is not Iessened, If thc restoration or
<br /> repuir is not economically feasible ar Lender's security would be fessened, the insurance proceeds shnll be upplied to the sums
<br /> securecl by this Security Instr�ment, whether ar nat�hen due, with any excess paid to Bormwer, If Borrower ubundons the
<br /> Pr�perty, or does not unswer within 30 days u notice from l.ender thnt thc insuruncc carricr has offered to settle a cluim, then
<br /> l..ender may collect the insarance proceecls. L.endcr may use the proccccls to rcpair or restore thc Property or�o pay sums
<br /> secural by this Security Instniment.whettier or not then due.The 30-day periad will begin��hen the notice is given.
<br /> Unless I.ender and Borrower othenvisc agree in writi�g, any application of proceeds to principal shall not exte�xl or
<br /> postponc the due dnte of the monthly payments refcrrui to in paragraphs I and 2 or change the amount of the payments. If
<br /> under parograph 21 the Property is acquire.d by Lender, Borrower's right to nny insurance policies and proceeds resulting from
<br /> damage to the Property prior to the ucquisition shall p�ss to Lender to the extent of the sums secured by this Security Instrun�ent
<br /> immedistely prior to the acquisition.
<br /> 6.Occupa�my, PreserraRion, Malntenance and Protection of the Property;&►rrower's LoAn ApplicaHon;Le.�seholds.
<br /> Borrower shall occupy,es�eblish,and use the Prupeny as Aorrower's principal residence within sixty days after the execution of
<br /> this Security Instrument aid shaU continue to occupy the Propeny as HotiTOwer's principal residence for at Icast one year efter
<br /> the date of occupancy,unlus l.ender otherwise agrees in writing, which consent shall not be unreusonably wlthheld, or unloss
<br /> cxtenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the
<br /> Property, ullow the Propeey to deteriorate, or commit waste on the Propr,rty. Borrower shall be in default if any forfeiture
<br /> action or proceeding,whether civil or criminnl, is begun that in Lender's gaod faith judgment could result in forfeiture of tho
<br /> Property or otherwise materially impair the lien creattd by this Security Instrument or L.ender's security interest. Borrower may
<br /> cure such a default and r�instate,us provided in paragraph 18. by causing the action or procee.ding to be dismissed with a ruling
<br /> that, in I.ender's good faiih detertnination, precludes forfeiture of the Borcower's interest in tha Property or other material
<br /> impairment of the lien crtated by this Security Instrument or Lender's security interest.Borrower shall also be in default if
<br /> Borrower,ducing the loan application process.gave macerially false or inaccurate information or statements to l,ender(or failod
<br /> to provide L.ender wich any material information)im m�nation witn the loan evidenceci by ihe ivuic, i�wlauir�g, `vi;t �ti�it.::
<br /> to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Inst►ument is on a
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br /> 7,ProtecNon ot Lender's Rights in the Propedy. If Bonower fails to perform the wvenants and agretments containod in
<br /> t}iis Security Instrument. or there is a Iegal proceeding thet may significantly affect Lender's rights in the Propeny (such as s
<br /> praceeding in bankruptcy,probate, for condemnation or forfeiture or ta enforce laws or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and L,ender's rights in the Property. Lender's actions may
<br /> include paying eny sums secured by a lien which has priority over this Security Instrument, appearing in wurt, paying
<br /> reasonable attorneys'fees end entering on the Propeny to makc repairs. Although Lender mAy take action under this paragraph
<br /> 7,Y..ender dces not have todo so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borruwer saured by this
<br /> Security Instrument. Unless Borrow�r and Lendcr agree to other tcrms of payment, these amounts shall bear interest front th� •
<br /> date of disbursement at the Note ratc and shall be payable. with intcrest, upon notice from Lender to Borrower requesting
<br /> payment.
<br /> 8.Mortgage Insurance.If i.ender required mortgage i�isurance as a condition of making the loan securai by this Security
<br /> Instrument, fiorrower shall pay the premiums rcquired to maintain the mortgage insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses orceases to be in effect, Borrower shall pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantinlly equivalent to the
<br /> cost ta Borrower of the mortgege insurance previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substantially cquivalent nbrtgage insurance covcragc iti not avaitable, Borrower shall pay to Lcndcr cach month a sum equal to
<br /> one-[wclfth of the ycarly nbrtguge insurance prcmium being paid by Borrowcr when the insurance coverage lapscd or ceasal to
<br /> be in effect. Lender will xcept,use und retain these paymcnts as a loss reserve in lieu of mort�age insuranee, Loss reserve
<br /> Fam 3028 9/SO
<br /> Pape 3 01 8
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