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<br />-- ' . . 5. Hazard or Ptvperty Insurance. Borrower shall keep the improvements noiv exl5fing or hereafter erected on the � , .r,g.;"
<br />- . � Property insured against loss by fire,hazards included v�ithin the term "extended coverage" and any ather ha7ards,including �'� �
<br /> _ � _ _'__'__ tlaods or flooding, for which Lender requires insurance.This insurance shall be maintained in the amounts and for the periods = _ � �� t
<br /> '�,_,.� , that Lender eeqLires.The insurance carrier providing the insurance shall be'chosen by Born�wer subject to Lender s approval ��y,-4;
<br />_ , ,_ ` which shall not be unreasonably withbetd. If Botrower faits to maintain coverage described above. Lender may, at Lender's
<br />_ - -. . . . option,obtain coverage to protect Lender's righu in the Property in acc�rdance with paiagraph�. .._ ;_, . _ ' `
<br /> _`, _� � • All insurance policies and renewals shall be acceptable to Lender and shall inclade a standard mortgage clause. L.ender : .,�,_
<br />- , shall have the right to hold the policies and renewals.If Lend�r reqaires.Borrower sha11 prompdy give to Lender all receipts o� � "„�
<br />_� �, ` : ,�, paid premiums and renewal aotices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and L.ender. � • . '
<br /> � �! . � " . - Lender may make praof of loss if not made pmmpUy by Borrower. ° ' `• '
<br /> �. ' , Unless Lender and Borrower othenvise agree in writing, iasurance proceeas shall be applied to restoration or repair of the �'�� . � .'
<br /> - - �. ' � � � Property damaged, if the restoradon or repair is econoriucally feasible and Lendei s securiry is not lessen�d.If the reswration or __ , _, '
<br /> -' . _ repair is not economica!{y feasible or I.ender's security would 6e lessened.the insurance proceeds shall be applied to the snms `' { t
<br /> �..�,�.��,.
<br /> � ' ' � secured by this Security Tnstrument, whether or not then due,with any excess paid to Borrower. if Horrower abaadons the . ' � •
<br /> ' ' . '. . �' Property,or daes not anstver within 30 days a notice from Lender that the insurance carrier has offered to settle a claim,then -• -�-�
<br /> � � , Lender may collect the insurance proeeeds. Lender may use the proceeds to repair or restore the Froperty or to pay sums ����r .'�
<br /> � �� � secured by this Security Instrument,whether or not then due. The 30-day period will begin when the aouce is given_ . � *'�~"y
<br /> ; :•;� , . . _ .
<br /> ._ .,�: ,, , . ,. . . . . ....Unless.I.ende�and.Bnrrower otherwise agree.in wziting, an}! applicat�on of proceeds.to principal shall,not Extend.or__ ..___.__�.`— ,
<br /> ;,.' � � postpoue the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ` f• F� �
<br /> ` . � under paragraph 21 the Properry is acquired by Lender.Borrower's right to any insurance poficies and pmceeds resuldng from ����{����`
<br /> ?�•r�:�
<br /> , .• � damage ro the Property prior to the acquisiuon shall pass to Lender to the extent of the sums secumd by Wis Seatrity Instrument �_,��:--``
<br /> ' , , . • immediateiy priar to the acquisition. . -
<br /> - . � 6.Occupancy, Preservation,Ntatntenance and Protection of th�Property;Borrower's i:oan Applieatton;Leaseholai9. ����
<br /> . , • Borrawer shall occupy,establish,and use the Property as Borrower's principal residence witivn sixry days after the execution of . �'
<br /> ' � • this Security Instrument and sl�all continue to occupy the Property as Borrower s principa3 residertce for at least one year after � --
<br /> `• ' � the date of accupancy,unlas Lender othenvise agrees in wricing.which consent shall not be unreasonabIy withhetd,or unless `~ �
<br /> � � ,� � extenuating cirwmstances exist ahich are beyond Borrou�ec s control. Borrower shall not destroy. dam3ge or impair the � "'�
<br /> . � Property, altnw the Property to deteriorate, or wmmit waste on the Property. Borrou•er shall be in default if any forfeiture ,.:;�ti
<br /> � � : action or proceeding, whether civil ur criminal,is begun that in Lender s aoad faith judgment could result in forfeiture of the �.,�;_;�_
<br />- • � . � � Property or othenvise materially impair the lien created by this Security Instru�nent or Lender's security interes�Borrower aiay
<br /> � ' cure such a default and reinstate.as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling .�'��
<br />= • "• � . taat. in Lender's goad faith determination, precludes forfeiture of the Borrower s interest in the Property or other material �"'"'�`_
<br /> �- f�7Ri
<br /> � � impairment of the lien created by this Security instrument or Lendei s security interest. Borrower shall also be in default if :�•���:�
<br /> � • Borrower,during the loan application process,gave materially false or inaccurate information or statements to I.ender(or failed -�-
<br /> ,,- � • � to provide Lender with any material information)in connection with the loan evidenced by the Note.including.but not limited . �`�
<br />- � � . to.representations concernin�Borrower's accupancy of the Property as a principal residence.If this Security Instrument is on a ' '_� . �_;�
<br /> � • ' , leasehold, Borrower sha11 camply with all the provisions of the lease. If Borrower acquires fee title to the Property, the `"_- `�
<br /> - �� ' '.. � leasehold and the fee title shall not merge unless Lender agrees to the merger in wri6ng. � � �`�'��
<br /> • •. . 7.Protecttoa of Lender's Rtghts in the Property.If Borrower fails to perform the covenants and agreements eontained in « -
<br /> � �. ,--- ` �. . � this Security Instrument, or there is a Iegal proceeding that may significantiy affect Lender's rights in the Propecty(such as a
<br /> � � ptoceeding in bankruptcy,prabate, for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and --_=_
<br /> �o�
<br /> - ' , pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lendet's actions may ____
<br /> . . • , include paying any sums secured by a tien whicfi has priority over this Security instn►ment. appearing in court. paying ��---
<br /> -�" reasonabte attorneys'fees and entering on ihe Propeny to make repairs.Although Lender may take action under this paragraph --,-;:�..r�,�.
<br /> � '. �-� � 7,Lender does not have to do so. � ��.;'< �
<br /> An amounts disbursed b Lender under this �ua ra h 7 shall.become additional debt af Borrower secured b this � � �'��`'
<br /> �,.�.. . Y Y P' S P Y V" • --• +a
<br /> •• � 5ecurity Instrumcnt. Unless Borrowcr and Lender agree to ather terms of payment.these amounts shall bear interest from the �?''�"� ;'
<br /> .
<br />- - ' _ . • , date of disbursement At the Note rate and shall be payable. with intcrest, upon notice from Lender to Bonower requesting -
<br /> , . payment. '��r -
<br /> _ � 8.Mortgnge Insusance.If l.ender required mortgage insurance as a condition of making the loan secured by this Security
<br />_' •' �: • �• ' � Instrument, Borrower shall pay the premiums req�ired to maintain the mortgage insurance in effect. 1f, for any reason, the
<br /> ;� ;, � � mortgage insurance coverage required by L.ender lapses or ceases to be in effect,Borrower shall pay the premiums mquired to '
<br /> � obtain coverage substantialty equivalent to the mortgage insLrance previously in effect.at a cost substantially equivalent to the `` •
<br />-_ . ' � . wst to Borrower of the mortgage insurance previously in ef`ect, from an alternate mongage insurer approved by Lender. If ":'b��
<br />--��., _ . � . . substantiaUy eyuivalent mortgage insurance coverage is not available,Bonower shall pay to Lender ezch month a sum equal to � p
<br />= ', � one-twelfth of the ycarly mortgage insurance premium being paid by Borrow•er when the insurance cotierage lapsed or ceased to � � `
<br /> � � .. be in effect.Lender will uccept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve •� '
<br /> ;''• , ' . Form 3028 9190 � �"��},
<br /> � • � Page 3 0l 8 � �.�
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