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<br /> 5• Haz�rd or Property iasurance. Fso;rower shall kexp the improvamrnts now ezisting or hereafter erected on the
<br /> Property insared against loss by fire, hazuds includai within the term "eztended coverage• and any other ha7arcis, including
<br /> floods or flooding, for which Lender reqnires insurance, This insunna shall be�n����e amounts and for the periods
<br /> that Lender requires. The insurance camer providing the insurance shali be chosen by Borrower subject to I.ender's apgroval
<br /> which shall,not be unreasonably withheld. If Borrower fails to maintain coverage described above, L,e�der may, at L,ender's
<br /> option,obtain coverage te prot�t Lender's righu in Lhs Propert'y in accordance with paragraph?. . '
<br /> Ai! insurance poli�ies and renewats shall be �ceptable to Lender and shall include a standard mortgage clause. Lender
<br /> shall have the right to hold the policies and reaewals. If I.tnder requires, Borrower shall kpro�ptly give to L,eader all receipu of
<br /> paie:premiums and renewal notices. In the event of loss, Borrower sk►a11 give prompt notice ta the insurance catrier and L.ender.
<br /> Lender may make proof of loss if not made promptly by Borrower. •
<br /> . Unless Lender and Borrowcr otherwise agree in writing, insurance p�occeds sha11 be applied to resto,�ation or repair of the
<br /> Property damaged, if the restoration or repair is economically feasible and L.cnder's security is not lessened. If the restoration or
<br /> repair is not economically feasible or Lender's securiey would be lessened, the insurance proceeds shal� be applied to the sums
<br /> secured by this Security Iasstivment, whether or not then due, with any ezcess paid to &,rrower. If Borrower abandons the
<br /> Property, or does not answer within 30 days a notice from I.ender that the insurance carrier has offered co settle a claim, then
<br /> Leade: may collect the insurance procecds, Len3er may use ihe procceds to repair or restore the Prop�;rty or to pay sum•>
<br /> sxured by this Security In.c�ent,w�ether or not then due.The 30-day period will begin when�he notice is given. �
<br /> Unless Lender an� Borrower othsrnise agree in writing, any applicatian of proceeds to princigal shall not eztend or `
<br /> postpone ii�e due date of the monthly paytntnts rGferm� to in paragraphs 1 and 2 or c�ange *F- aznount of the payments. If
<br /> under paragraph 21 the PrQperty is acquired by I.ender, Borrower's right io any insurance golicies and proceeds resultinE frum
<br /> damage to tbe Property prior tn the acquisition shall pass to Lender to the eztent of the sums secured by this Securixy Instrument
<br /> immediately prior to the acquisi.tion.
<br /> 6. Ozcupancy, Preservation, 1RaIntenaace and Frotection of the Praperty; Borrower's Loan Application; Leaseho{ds.
<br /> Borrower shall occupy, estabiish, and use the Propecty as Bormvyei's principal residonce within sizty days after the�xecution of
<br /> ts�s Security Instrument and shall continue to occupy the propect�, az go��,er's prin�.ipal rr�?dence for at least on•year after
<br /> the date of occupancy, unless Lender otherwise agrees in:�riting, which consent shall not b�e unreasonably withheld,�`or uNess . '�
<br /> eztenuating circumstances ezist which are beyond Borrower's control. Borrower shall not destmy, damage or ampair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Praperty. Bonbwer shall be in default if any forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment co�ld result in forfeiture of the
<br /> Property or otherwisc materially impair the lien create�l by this Security Inscrument or L,ender's securiry interest. Borrower may
<br /> cure such a default and reinstate, as ptovided in paragraph 18, by causing the action ar proceeding to ba dismissed with a ruling
<br /> that, in Lender's good faith determination, prccludes forfeitut�e of the Borrower's intertst in �he Property or other material
<br /> impairment of the lien created by this Security Instrument or l.ender's security intemst. Borrower shall also be in defzult if
<br /> Borrower, during the laan application ptocess,gave materially false or inaccurate informatian or statements to Lender(or failed
<br /> to provide L,ender with any material information) in connection w;th ihe loan evidenced by the Note, including, but not limited
<br /> t�, representations concerning Borrower's occupancy of the Property as a princip2l residence. If this Security Instrument is an a
<br /> leasehold, Borrower shall comply with all the provisions of the lease. Tf Borrower acquires fee tide to the Property, the
<br /> teasehold and the f;e title shall not mergc unlesa Lender agt�cs to the merger in writing.
<br /> 7. Protertion of Lend�r's Itights in the Property, If Borrower fails ro perform the covenants and agreements contained in
<br /> this Security Instniment, or there is a legal proceeding that may significantly affect I.ender's rights in the Property (such as a
<br /> proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatever is *�ecessary to pro,ect the value of the Property and Lender's rights in the Property, I.ender's actions may
<br /> include paying any sum� secured by a lien which has priority over this Security Instrumep�, appeazing in court, paying
<br /> reasonable artorneys' fecs and entering on the Property to make repairs, Although Lender may take action under this paragraph
<br /> 7, Lender does nat have to do so.
<br /> My amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by th�s
<br /> Security instrvment. Unless Borrawer and L°,nder agree ro other,tetms of pa��ment, these amounts shall bear interest from the
<br /> date af disbursement at the Note race and. shall �e payable, wifh interest, upon notice from Lender to Borrower requesting
<br /> pa�ment.
<br />� 8. Mortgage Insurance. If Lender required mongage insurance as a condit�on of making the loan secured by ihis Security
<br /> Instrument, Borrower shall pay the prsmiums �cquired to maintain the mortgage insurance in cffxt. If, for any reasan, the
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay ehe premiums required to
<br /> obtain coverage substanti�iiy equivalsnt to the mortgage insurance previou�ly in effect, at a cost suEstantially equivalent ro the
<br /> cast to Borrower of the mortgage insurarsce previously �n effect, frem an alternate mortga�e insurer apgroved by Lender. ]f
<br /> substantialty equivalent :r,ortgage insurance coverage is not available, Borrower shall pay to I.ender each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by gorrow,er when the insurance coverdge lapsed or ceased to
<br /> be in effect. (,ender wili accept, use and retain these payments as a loss reserve in lieu of mortgage insurance, L.oss re�erve
<br /> �-6RiNE);ez i zi.oz Form 302g g/g0
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