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<br />- �;�..,.�.,(:,..: 5. H�z�rd or Property Insursnae. Aorrower ehall kecp the improvements now exieting or hereafter erected on
<br />'�'��'�'��'�' the Pm�xrty insured yg�inst loss by firo, hezacds ir.cludsd within the term "oxtended coverage" and any other hezsrds,
<br /> •`��� ' '� including lloods or tlooding,tar which Lender roquires inaurance.Thie insurance shell be meinteined in the amaunts r,=
<br /> •:• r:�.� end (or the�eri�that L.ender r�quir�. The insurance carrier providing the ineurance ehall be chcsen by I�orrower �,
<br />� . subject to I.ender'o approval which shell not be unreasonably withheld.I[norrower(ails to meintain coverage described �
<br />'"���'�• above, Lender may, at Ixnder's option, obtain coverage to protect I.,en der's right�in the Pro�ert y in ece�rdance with _
<br />-...'• � �• pnragraph 7. �'°
<br /> " ' All inawence pc�licics end renewels shall be acceptabla to L,rnder end shell include a stendard mortgage clai�.se. ��
<br />-±!!''�k°''..:
<br /> ' I.�nder shall heve the right to hold the policies end renewele. It Lender requires, Borrower shell promptly give to
<br /> �`_,, :� I.enJer ell receipts of paid premiums und renewnl notic�,In the event of loss,I3orrower shall give prampt notice to the r:,
<br />-��. ' insurance cerrier end I.end�r,I,ender msy mske proof of loss it not mede promptly by Aorrower.
<br /> ��� ' ` Unless Lender end 13orrower otherwiso egree in writing,insurance proceecls shell be applied to r�storation or repair _.
<br />:� of the Froperty damaged,if the restoration or repair is economically fees�ble and L.ender's security is not Icssened.If the _
<br />' restoration or ropeir is not xonamically teasible or Lender's sxurity wo�ld be l�ened,the insurance procecds shall be
<br />- . A � ' applied to the sums secur�d by this Security Instrument,whathar or not then due,with any excess paid to Borrower.Yi
<br /> I3orrower ahandona the Pr�perty,or does not answer within 30 days a notice fram I.ender that the insurance carrier has
<br />=f;�,:. ,•;�,r offered to settl�a claim, then Lender may collxt the insurance proceeds. l.ender may use the procccds to repair or �
<br />-�.,� , t. restore the Property or to pey aume socured by thie Security Instrument,whether oc•not then due.1'he 30'day period will
<br /> �_:��'._z�. : begin when the notice is given.
<br /> -::;`�• .• < � Unlesa Lender an d Borrower o t herwise agr e e i n writin g,en y e p plication of praceede to principal shall not extend or
<br />- "� ��" postpane the due date ot the monthly paymsnta reterred to in paragraphs 1 and 2 or chnnge the emount o4 the paymr.nts.
<br />_�_�"''''' If under peragraph 21 the Property ie acquirr,d by Lender, Aorrower's right to any ineurance policics and proceeds
<br />-�-;,i��;�• resulting from damage to the PropPrty prior to tho acquisition shall pass to I.ender to the extent of the sume secured by
<br />�F '':�.as."� thieSecurityInstrumentimmediat�lypnortotheacqu�sition. -
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<br />„�,;,;;;,,,;rc; 6. Occupancy,Preservation. Mrintenance aad Pr�tection oi the Property;Dorrower's Losn App icat�on;
<br />-t �'-.� �' Lcaseholds. Borrower ahall occupy,establieh,nnd use the Property as Borrower's principal rwidence withit�aixty days
<br />"'-�;i<;,,;r� .; after the exxution of this Security lnstrument and shall continue to occupy the Property as IIorrower's principal
<br /> � residenca for at Ieaet one yaar after the dato of occupancy,unless Lendsr otherwisa sgcas in writing,which consent shall
<br />�;;,;:�;•• not Lo unreasonsbly withheld,or unlesa eYtenuating circumetances e.iet which are beyond Borrower's control.Dorrower
<br /> " shall not destroy,damage or impair tho Property,allow the Praperty to deteriorntc,or cammit aaste on the Property.
<br /> ='S1��.� Borrowcr shell be in dctault if any torfeiture action or procading, whether civil or criminal, i3 begun thnt in Lender's
<br />�'3;�,�„�. good faith judgment could result in torteiture of the Property or ot.tierwis�materially impair the lien created by this
<br /> _-�'-.-�s , Security Instrument or Lender's security interest. Borrower mey cure such a default and reinatate, xs provided in
<br />;c�:•.�,�k% paragraph 18, by causing thc action or proceeding to bz dismissed with a ruling that, in I.ender's good feith
<br /> - determination, prxludes torfeiture of the Borrower's interest in the Property or other materiel impairment of tho lien
<br /> - '��- '� �,;,r,3�,'0,�,L:;t�;ZtP��sr.g�r��aer shAll also be i�defeult if Dorrower,during
<br /> �»�4i�iM� created by this Securi�y Inairu�iicn��r
<br /> ��"=��:;:x�'1-`' tha loan epplication process, gave materially talse or inaccurate information or �tatementa to Lender (or failed to
<br />—'+�r�t�-'.�{� provide Lender with any material information)in connxtion with tha loan evidenced by the Note,including, but not
<br />�;�„y�=,,,,�� limitP.d to, rcprescntations concerning Borrower's occupancy of the Property as a principel residenca If this Security
<br />--•�� In�trument is on a leasehold,Borrower shnll comply with all the provisions of thc lease.If Borruwer acquires fce title to
<br /> s�.-,,;�ti�.
<br />=-=•_v,_� the Property,the leasehold and the tee title shatl nut merge unless Lender agrxs to the merger in wnt�ng.
<br />;;,.�.�;,��..�,� 7. Protection of Lender's Ri�hts in the Properry. If Horrower lails to perform the covenants and ag�eements
<br /> =�c•,_=���� contained in thia Security Instrument,or thcre ie a legal proceeding that mey significan+.ly affect Lendcr's rights in tho
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<br />�_n.,__-.-_..-,.r� Property (s�ich as s proceeding in bankruptcy, probate, for condemnation or torfeiture or to enforce aws or
<br />_-�--�_-.,.�.;� regulntione),then L.ender may do and pay for whatever is necessary to protect the value of the Property and I.ender's
<br /> �,�=',.,�� right,v in the Praperty. Lender's a�tions may include peying any sume securul by a lien which has priority over thia
<br /> � -- ��� Security Instrument,appearing in court,paying reasonable attornoys'tces and entering on the Property to make repairs.
<br /> -�"�..-,���
<br />-----� Although 1_.endcr may take action under this paragraph 7,Lender does not hnvo to do so.
<br />��-���� Any amounts disbursed by Lender under this paragraph 7 shell become edditional debt of Borrower secured by this
<br />'7°'➢�%"=�� Security Instrumcnt.Unless Borrower and Lender agra to other terms of payment,these amounts shall bear interest
<br /> —�� from the date of diybursement at the Notc rata and shall be payable,with interts�t,upon notico from Lender to Borrower
<br />_ ,:,. � requesting payment.
<br />—�"'''�'� 8. Mortea�e Insurance.If I.ender required mortgage insurance as a condition of making the loan secured by this
<br />_':='�"'.�::,.•:
<br /> __ = Security Instrument,Borrower ehall pay the premiums required to meintain the mortgage inaurance in effxt. , or any
<br />- " reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effe�ct, I3orrower shal! pay the
<br /> .=�- �- � premiums required to obtain coverage substantially equivalent to tho m4rtgage insurance previously in effxt,at a cost
<br /> - -- -= substantielly equivalent to the cost to Borrower of the mortgago insurance previously in effcet, from an alternate
<br /> y�;�ti�M mortgage insurer approved by Lender. If substentielly equivalent mortgage insuranco coverage is not available,
<br /> - Borrower shall pay to Lender each month a sum cqual to onc-twelfth of the yearly mortgage insurance premium being
<br />="";�p���� paid by Borrower when the insurance coverago lapsed or censed to be in effect.Lender will accept, use and retain these
<br />�';"',_:�,�` payments as a loss reserve in lieu of mortgage insurance. l..oss reserve payments may no longer be required,
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