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<br /> ` • 5. ffnzurd nr Prnperty Insurnncc. l3arrowcr shall kecp thc improvemcnts no��i i+ �� on c�reaftcr ercctal on the
<br />�,_,. �. . Propcity insurcJ iiguinst locs by firc, h.�z;uds incluJcd witliin thc tcrm "cxtcndcd covcrage" nnd any othcr haznrds, includirig �---r�"-
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<br /> flnods or flonding, for which l.cndcr ra�uires insurnncc. 7'his insurnncc shull bc m�ii�itnincd in thc amounts anct for thc periods
<br /> �., tlia� I.�nder rec�uires.Thc insurance carricr praviding thc insurancc shall bc rhoscn by �urruwer s�ihject t�+ r.en�i��•••�3n�r���.�i �`"�
<br /> �___.
<br />�=�';'�',";.�.�'� �'. which shull not be unrrusonably withhe(d. If Borrawer fails co maintain covernge describul ubove, I.ender may, at I.ender's
<br />' �'" ' ' nption,ubtuin coverage ro protect Lender's rights in thc Property in uccordunce with paragr.ipl�7. _
<br /> " All insurance policies und renewnls shull be acceptahle to Lender imd shull include a stattdard martgn�e clause. I.ender
<br /> ' � �+ sliull huvc th�right to hold thc policics and rencwals. lf l.cndcr rcquires,Borrawcr shall promptly givc w I.cndcr ull rcccipts of —
<br /> _. . , puid prcmiums and renewal nutices. hi thc event of loss, Borr�iwcr shall givc prampt noticc to thc insuranrc carrier and Lendcr. --
<br /> �, ., � - Lender muy makc prcxif of lass if not made pro►nptly b�� Borro�eer. -_-
<br />" s ' ° Unlcss Lcnder und Dorrowcr othcrwisc a�rce in writing, insurunce procecds shall bc applicd to restoration or repair af the
<br /> Property damaged, it'the restoration or repair is economically feasible and L.ender's security is not lesseneci.If the restoration or
<br /> repair is not economically feasiblr,or I..ender's security would be lessenecl, [he insuranec:prnceeds shull be applied ti,the sums
<br /> z,f • secured by this Security Instrument, whether or not [hen Jue, with any exces5 paid to Borrower. If Borro�ver abandons the —
<br /> t.� � � Propeny, or does not answer�vichin 30 days u notice fi-am L.ender that the insurance carcier has offered to settle u claim, then
<br /> ., L,cnder may callect the insurance proceeds. Lender may use the proceeds ro repair or restare the Property or to puy sums
<br /> i .. �' . � sccured by this Security Instcumcnt, whcthcr or not then due. The 30•day period will begin whcn the noticc is given. --
<br />_�� . Unless Lcnder a�d Bonower othenvise agrcc in writing, any application of procecds to principal shall not cxtend or
<br /> ` „ postponc thc duc dutc of tha monthly paymcnts refcrrcd to in pa�agraphs I und 2 or changc thc amount of thc paym�nts. If
<br /> . under paragraph 21 tlie Property is acquircd by I.a:nJer, Borrower's right to any insurance policics and proceeds resulting from
<br />- damagc to thc Propeny prior to thc acyuisition shall pass to Lender to the extent of thc sums secured by this Security Uistrument
<br /> immcdiatcly prior to the ucquisition. —`�-
<br /> " 6. CDccupancy, Preservndon,Niuintenunce und I'rotection of the Pr�perty;Burrower's I.uan Applicution;Leaseholds.
<br /> Borrower sh�ll occupy, establish,and use the Praperty as Borrower's principal residence within sixty days after the execution of
<br /> this Security Instrument and sliall continu�to orcupy the Property ns Borrower'x principal residence for at Ieast one year ufter
<br /> thc date of occupancy, unless Lender athcnvise agrces in writing, which consent shall not be unressonably withhetd, or unless
<br /> extenuating circumstances cxist which are beyonJ Borrowcr's control. Borrower shall not destray, dumage or impair the R-
<br /> t'roperty, allow tue Nropeny to �eteriorate, or commit wasce on [nc �ropeny. norrc�wer snaii be in ueruuii ii any inriciiurc —
<br /> �� uction ur proceeding,whether civil ar criminal, is begun thut in L.endcr's�ood faith judgment could result in forfeiture of the
<br /> � °- Property or otherwise rnaterially impair the lien createJ hy this Security Instrument or L.ender's securit�� interest. Borrower ntay
<br /> , �, cure such a default and reinstate,as provided in puragraph 18,by causing the action or praceeciing ta be dismissed with a ruling --
<br /> that, in I.ender's go«l faith dctermination, precludes forfciture of the Borrower's interest in thc Property or other mnteriul
<br /> impairment of the licn creatcd by this Sccurity Instrununt or Lcnder'� serurity interest. Borrowcr shall also be in def�ult if
<br /> , � Borro�ver,Juring thc loan application proccss,gavc matcrially false or inaccurate information or st�tements to Lender(or failc.�
<br /> to pravide Lender with any material information) in ronnrction with the loan evidenced by the Note, inrluding, but not lintited �`�",
<br /> .. to, representations concerning Borrower's uccupancy oF the Property r.s a principul resiJence. If this Security Instrument is on u �:
<br /> Icnschold, Borrowcr shall comply with all the provisions of thc Ieasc. lf Borrowcr :tcquircx fce tiNc to thc Property, the �,..
<br /> � Ieasehold and thc fce iitle shall not merge unlcss Lendcr agrees to thc mergcr in writing. +n-
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<br /> ' 7. Protectfon of Lender's Ri�hts in the Property. If Borrowcr fails to pertonn thc c�venants und agrecments contained in �;;
<br /> ' .. _ this Securiry Instrumcnt,or thcre is a Icgal procceding that may significantly affcct LenJcr's rights in the Property (such as a
<br /> . , proceeding in bankruptcy, probate. Cor condemnation or f'orfeiture or to entbrce laws or regulations), then L.ender inay do and _l�
<br /> pay for whatever is nccessury to protect the vuluc of the Property and L.ender's rib(us in the Property. Lender's uctions tnay
<br /> ' , include paying any sums secured by a lien which hus priuriry over thiti Security liistrument, appearing in coun, paying ;�.1 ':
<br /> . rcasonuble attorncys'tecs c►nd entcring on thc Property to malcc repairs. Alth��ugh Lendcr muy take action undcr this paragraph ��
<br /> — " 7, L.ender does not havc to do so.
<br /> • Any antounts disbursed by Lendcr under this paragraph 7 shall hccome additionxl debt of Borrower securecl by this � -
<br /> � Sccuriry instrument. Unless Bon•ower and Lendcr agrcc to uther tcrms of payment, thcsc amounts shaU brar intcrest from the �
<br /> datc of dishurscment at Ihe Notc rutc and sliall be pay3ble, �vith intcrest, upon noticc from Lender to Borrowcr reyucsting
<br /> _ � paymen[.
<br /> � � 8. Mortguge Insurnnce.If Lcnder rcquired mortguge insurance as a condition of making the luan securcd by this Security
<br /> + - . ' Instrumcnt. Borro�ver shall pay thc prcmiums rcyuircei to maintain thc mortgagc insurancc in effcct. If, for any rcason, the
<br /> mortgage insuranee coverage reyuirecl by Lender lapses or ccases ri he in effeet, Borrower shall pay the premiums required to
<br /> � obtain coverage substantially eyuiaalent to the rno��tgage insur.mce previously in effect, at a cost substantially eyuivalent tu the
<br /> • cost to Borrower of the mortgage insurance previausly in effect, from an alternatc mongage insurer approved by Lender. If
<br />- ' " subtitantially cquivalent rnortgagc insuruncc covcragc is not availahlc,Bormwcr shail pay co L.cndc�cach month a r.um cyual to
<br /> . ' one-t�velfth uf the yearly mortgage insurance premium being paid hy Borrower when the insurxnce coverage lapsed ur ceased to
<br /> � , be in effect. L,ender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurancc. C.cns rescrve �
<br /> . �
<br /> Form 3028 9l90 �{
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