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<br /> __�-�:�.� � 98� 112i335
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<br />::"�•� • 5. Hnt�ard or Property Insurance, Borrowcr shall keep the improvements now existing or hercaf[cr erec:ted on the
<br /> -_:='? Property iiuured against loss by fire. hazards included within the term "extended coverage" and any other hazards, including
<br />�`�`°`�`°^� floode or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods
<br />- "`:'����
<br /> that Lender requires. The Insurance carrier providing the insurance shall bc chosen by Borrower subject to Lender's approva
<br /> -�+�"��•� whlch shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, L,ender may, nt l.knder's
<br />:..�;;y�re�
<br />-.-=., y�. option,obtain coverage to protect l.ender's rights in the Property in accordance with paragra�h 7.
<br />>>�,;�:��•� ° All insurance pollcies and renewals shall be acceptable to L,ender and shall include a standard mongage clause. l.ender
<br />_� ,�t�.t.�
<br />,_��,���;` — shAll have the right to hold the policies and renewals. If Lender requires,9onower shall prompdy give to Lender aU receipts of —
<br /> paid pre�nluras and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance carricr and I.ender.
<br /> � l.ender may make proof of loss if nat made promptly by Borrower.
<br /> Unleas l.ender and Borrower otherwise agra in writing, insurance proceeds shall be applied to restoration or repair of thc
<br /> �� Property damagcd,if the restoration or repair is economically feasible and I.ender's security is not lessened. If the restoration or
<br /> : '`�•��4�� repair is not econamically feasible ar Lender's security would be lessened, the insurance proceeds shall be applled to the sums
<br /> "r''"�• sceured by this Securiry Instrument, whether or not then due, wi[h any exass paid to Borrower. If Borrower abandons the
<br />-""%a:;r..-
<br /> ��-;.ti�:` Property, or dc�es not answer within 30 days a notice from I..ender that the insurance carrier has offered to settle a claim, then
<br /> __-- Lender may collect the insurance proceeds, l.endcr may use the proceeds to repair or restore the Property or to pay suntis
<br /> _-J�' sxured by this Security Instrument,wbether or not then due.The 30day period will begin when the notice is given.
<br /> ���� Unless Lender and Bonower othenvise agra in writing, any application of proceeds to principal shall not extend or
<br />_-_ -- - postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br />--�-=_�� under paragraph 21 the Property is acquired by L.ender,Borrower's right to any insurance policies and proceeds resulting from
<br /> _ damage to the Property prior to the acquisition shall pass to Lendor to the extent of thc sums secured by this Security Instrument
<br /> - immediately prior to tho acyuisition.
<br />-_��si�� 6,Occupancy,�reservation,Maintenance and Protectlon of the Property; Borrower's LoAn Applica�tion; l.eASeholds.
<br /> _=- = Borrower shall occupy,establish,and use the Property as Borrower's principal resldenc;e within siaty days after the execution of
<br />_�:""�� thia Secudry Instrument and ehall continue to occupy ►he Property as Borrower's principal residence for at least one yeaz after
<br /> the date of occupancy, unless Lender otherwise agrees in writing, which:onsent shall not be unreasonably withheld, or unless
<br />__----- extenuating circumstancea exist which are beyond Borrower's control. Bonower shall not destroy, damage or impair the
<br /> -�_ - Property, allow the Property ta deteriorate. or commit waste on the Propeny. Borrower shall be in default if any forfeiture
<br /> -" action or procading, whether civil or criminal, is begun that in Lender's good fatth judgment could result in forfeiturc of the
<br />__-°,�-�� Propeny or otherwise materially impalr the Iien created by this 5�curity Instrument or Lender's security interest.Borrower may
<br /> -_- cura such a default ar.d reinstate,as provided in paragraph 18. by causing the action or proceeding to be dismissed with a ruling
<br /> - that� in l.ender's good faith determination, prceludec forfeiture of the Bonower's interest in the Property or other material
<br /> ---l-- impairment of the lien created by this Security Instrument or Lender's security interest. Bonower shall also be in default if
<br /> _ Borrower,during the loan application process,gave materially false or inaccurate information or statemen�s co Lender(or iailui
<br /> — to provide Lender with any material information)in conncetion with the loan evidenced by the Note, including,but not limited
<br /> to, representations conceming Borrower's occupancy of the Property as a principal residence.If this Secudty Instrument is on a
<br /> leasehold, Borrower shall comply with all thc provisions of the lease. If Iiorrower acquires fee title to the Pmperty, thc
<br /> _�, leasehold and the fee title shall not merge unless I.cnder agrecs to the merger in writing.
<br /> -- '1,Protectlon of Lenda's Rlghts in the Property.If Bonower fails to perform the cavenants and agra�mnts contained in
<br /> this Securiry Instrumenc. or there is a legal procading that may signi�cantly afYcet Lender's rights in the Property(such as a
<br /> �____ — proceeding in bankruptcy, probate, for wndemnadon or forfeituce or to enforce lnws or rtgulations), then Lender may do and
<br /> ----- pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in cnurt, paying
<br /> reasonable attorneys' fees and cntering on the Property to make repairs.Although l.ender may take action under this paragraph
<br /> 7,L.ender does not have to do so.
<br /> Any amounts disbursed by Lender under this pazagraph 7 shall become additional debt �f Borzov�er secured by this
<br /> �,,,,,R,�� Security Instrument. Unlesa Borrowcr and Lender agra to other torms of payment, these amounts sh�ll bear interest from the
<br /> ° — date of disburser.�ent at the Note rate and shall be payable. with interest, upon notice from L.ender to Borrower requesting
<br /> -_�--- pAyment.
<br />— 8. Mortgege In4urance. If L.ender required mortgage insurana as a conditi�n of making the loan secured by this Security
<br /> � Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums reguired to
<br />`��-��� obtain coverage substantially equivalent ro the mortgage lnsurance previously in effect, at a cost substantfally equivalent to the
<br /> — cosc to Borrower of the mortEage insurance previously in effect, 'from an altcrnate mongage insurer approved by I.ender. [f
<br />� - - substantially equivalent mortgage insurance coverage is not avaflable, Borrower shall pay ta Lendor�ach month a sum equal to
<br />-°-�^r:d,ta���a one-twelfth of the yearly mortgage insurance premium being paid by Bonower when the insurance coverage lapseci or ceased to
<br />:�N�:�
<br />-s=�,� be in effect. i.ender will accept,use and retain these payments as a loss reserve in lieu of mongage insurance. Loss reserve
<br /> - f"�''� Fam 3028 8180
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