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<br /> 5. Hwi.ard or Property Insurunce. [3ormwcr tihull kcep the imprcvements now cxisting on c�rct�Rcr crcctcd nn ihc
<br /> Pro�xrty insurcd ugiiinst Insti by firc, hu�urds includcd within thc tcrm "cxtcndcd cuvcrugc" and any nthcr tiuuircls, including
<br /> n���ki,�,�� n�,���i���b, lin•which Lcndcr rcquires insurancc. 'fhis insurunce shiiU l�e maimuincd in thc umounts und for the pericxis
<br /> thiu lxndcr rcquircti. Thc insw•nncc curricr praviding ihc in1uruncc shi�ll bc choscn by I3orrowcr sul�jcct to L.cndcr's npprnval
<br /> whicl� shall niit lic unrca�nn,ibly withhcld. If f3orrowcr fails ti� mnintain cr►vcrigc dcxribed ubovc. Lcndcr mity, ut l.cndcr's
<br /> ��ptiun,uhtnin cuv�ragc to protcct I.cnJcr's rights in thc 1'n�perty in uccorduncc with pi�rugrnph 7.
<br /> All insuriuicc �x�licics:►nd rencwuls shall bc ucccptublc to l.�ndcr iind sli�ll includc u su�nd,ird nKirtgngc clause. Lcndcr
<br /> shall hawe thc right tn hold the policies;ind renewuls. If Lender rcquire�,E3nrrower shull pmmptly giv�to I.ender nll receipts of
<br /> paid premiums und rencwnl noticcs, In thc ovcnt��f loss, Hnrruwcr shull sivc prompt noticc to thc insurancc carricr and I,cndcr. �
<br /> I.cndcr muy makc praif aP luss if not madc promptly by Borrowcr.
<br /> Unlcss Lcndcr and Dorrowcr nthcrwisc ngrcc in writing,insurunce proccccls shall hc tipplicd to restoration or rcpair of thc
<br /> Pmpc:rty damaged, if the restor,uian or repuir is economically fcasible and I.ender's security is nnt Iessened, If the restorntion or
<br /> rcpair is nat cranomically feasiblc or Y,cnder's sccuriry would bc Iesscncd, thc insurancc procceds shull he applied to the sums
<br /> sccurui Uy this Sccurity Instrumcnt, whcthcr or not then dut, with uny cxcess paid to Dorrowcr. If Dorrnwcr abandons thc
<br /> Prnperty, or dcxs not lnswer within 3U duys a notice f'rom l.ender tl�at the insurnnce carrier has offered to setde a claim, then
<br /> I.ender may collect the insurance procecds. f.ender mny use the procecds to repair or restore the Property or to pay sums
<br /> sccured Uy this Security fnstrument, whether or not then due.The 30-day period will begin when the notice is given.
<br /> Unlcss L,cnctcr and Eiorrowcr o[hcrwisc ngrcc in writing, any application of proccecis to principal shxll not cxtcnd or
<br /> postponc thc duc dutc of thc nwnthly paymcnts rcfcrecd to in paragrxphs 1 :uid 2 c�r changc thc amount of thc payrncnts. If
<br /> undcr paragraph 21 the Properry is �icquired by Lc�ndcr, Borrowcr's right to any insurancc policies nnd procceds resulting from
<br /> dumagc to the Property prior to Ihe acquisition shall pass to Lender to the extent of the sums securui by this Securiry Instniment
<br /> immediately prior to the acquisicion.
<br /> 6. Occupancy, Pr�ervation, Maintenance and I'rotcctlon of the Property; Borrnw•er's I.oan AppUcntion;I.easeholds.
<br /> Borrower shnll occupy, establish,and use the Property as Borrower's principal residence within sixty days after the:execution of
<br /> this Security Instrument and shall continue to occupy tlie Property ns Borrower's principal residence for at least onz year after
<br /> the date of occupancy, unless Lender otherwise agrees in wriiing,which consent shaU not be unreasonably withheld, or unless
<br /> extenuating circumstnnees exist which are beyond Borrower's control. Borrower shnll not destroy, damage or impair the
<br /> Property, aUow the Property to detcrioratc, or commit �v3ste on thc Properry. Borrowcr shall be in default if any forfeiture
<br /> action or procecding, whethcr civil or criminal, is br,gun that in Lcnder's good faith judgment could result in forfeiture of the
<br /> Property or otherwise materiully impair the lien created by this Security Instrument or[.a:nder's securiry interest. Borro�ver muy
<br /> cure such a defnult and reinstate,as provided in parugrnph I8,by cuusing thc uction or proceeding to be dismissed with a ruling
<br /> thut, in L.endcr's gocxi faith dctcrmination, prccludes forfciture of the Borrower's intcrest in the Property or other material
<br /> imp�iirment of the lien created by this SeCUriry Instrument or L.endcr's securiry interest. Borrowcr sh�►II also be in default if
<br /> Borrower,during thc loan application proccss,gAVe materially false or inaccurute information or statemcnts to(.,ender(or failed
<br /> to provide[.ender with any material infarmation) in connection with the loan evidenccd by the Nate, including, but not limitcd
<br /> to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a
<br /> leasehold, Borrower shall comply witli all the provisions of the Iease. If Borrower acquires fee title to the Property, the
<br /> Icasehold and tlic fcc titic shall not mcrge unlcss Lcndcr agrccs to the merger in writing.
<br /> 7.Protection of Lc�nder's Rights in the I'roperty. If Borrower fails to perfonn the covenants and agreements contained in
<br /> this Security Instrument, or there is n Iegal procecding tliat may signiCcantly affect Lender's rights in the Property (such as a
<br /> proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce lnws or regulations), then Lender may do and
<br /> pay for wliatever is nccessary to protcct tlie valuc of tlic Property and Lendcr's rigtits in the Property. Ler.der's actions may
<br /> include paying any sums secured by a lien which hati priority over this Security Instrument, appearing in court, paying
<br /> reasonable attorneys'fces and aiterin�on thc Property to makc rcpairs. Although l.cnder may take action under this paragraph
<br /> 7, Lender dces not have to do so.
<br /> Any amounts disbursed by L.cndcr undcr this paragraph 7 shall beconx additional debt of Borrower secured by this
<br /> 3ecurity Instrument. Unless Borrower and L.ender agrce to other tcrms of paymcnt, thesc amounts shall bcar interest from the
<br /> date of disburscmcnt at the Note ratc and slinll be payable, with interest, upon notice from Lender to Borrower reque.eting
<br /> Payment. .
<br /> 8. Mortgage Insurance. If Lender required mortgage insurance as n condition of making the loan secured by this Security
<br /> Instrutnent, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. [f, for any reason, the
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect, Burrower shall pay the premiums reyuired to
<br /> obtain covr,ragc substantially equivalcnt to the mortgagc insurancc•prcviously in cffcct, �t a cost substantially equivnlent to the
<br /> cost to Borrower of the mortgage insurance previously in e(fect, from an alternate mortgage insurcr approved by Lender. If
<br /> substantially equivalent mortgage insurancc coverage is not availablc, Burrower shall pay to Lender each month a sum cqual to
<br /> one-twelfth of the ycarly rnortgage insurancc premium being paid by Borrower when thc insurance coverage lap�ed or ccascd to
<br /> be in effect.Lender will accept, use and retain these payments as A IO55 re.eerve in lieu of mortgage insur:tnec. Loss reserve
<br /> Form 3028 9/00
<br /> Pepa 3 0l 6
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