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<br /> — ___---1=:�t�;',� 5. Huzaw! or I'mperty Intiurance. dorrawcr shall kcep the improvements now existi�g on c�re��fter eruted on the
<br /> • Propcny ioisured against loss by firc, haanrc9s Included within tl�e tcrm "extcndcd cov�r:+ge"and any�thcr hnznFds, including
<br /> °�:ar.e���;�g floods ar floodi�g, far which Lcndcr requires insuran�c.This insurai�c�c shall bc muintained in the umounts and for thc p�riods
<br /> -�` " that I.endcr requires. 'Chc insurnnce,carrier providins thc insurance shnll bc choscn by Bonowcr subjcct to l..cnder's uppruvnl �—
<br /> _-M; which shalt not be unre��sonnbly withheld, If Anrrower fails ta mnintnin cover�ge described nbave, I..ender may, at Ltnder's
<br /> _...:s.�i�;:'� option,obtain covcragc to pratcct l.endcr's rights in thc Prapertp in uccordiancc�vitl�paragraph 7.
<br /> = All insurnnce policies and reneaails shall be nc�ceptable to L.ender�nd chnll include a stundard mortgage clause. Lender
<br />�.t�:�:: � s� shall have the right ta hold the policies and renewals. If I.ender requires, Dorrower shall promptly give to I.er�der all receipts of —
<br /> -'""=r=xvR%' 3id remiums and renewal notices. in the event of loss,Horrower sludl �ive rom t notice to the insu��ance carrier and Lender.•
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<br /> :;�Y�"`�i;dt.r,i�: L.cndcr may makc proof of lass if not madc promntly by Borrower. ` -
<br /> .��,�� y�_� Unlcss Lcnder and Borrowcr othenvise agres in writing, insurancc pracecds shall be applied to restoration or rcpuir of the
<br />-'w"��'i�� pr��perty dumaged, if thc restoration ar rcpair is economicnlly fcasible and Lcnder's sccuri�y is rtot lessencd. If the restorntion or
<br />-M'r�' '"" ;' repair is n�t economicaily fe.�.sible or I.ender's security would be Iesscned, thc insurance procceds shall bc appliccl to the sums ---
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<br /> °�.�.:r,�• +� secured by this Security Instrument, whcther or not then duc, with any excess paid to Bonowcr. If Borrower ab,�ndmis the
<br /> y'�':'�" Property, or does not unswer within 30 days u noticc from Lender that the insurance cattier has offered to settle n daim, then
<br /> �`�*; : � C.ender may cullcct thc insurance proceeds. Lcndcr may use the pracecds to rcpair or restare the Property or to pay sums _
<br /> � �' � ��� securcd by this Securiry Instrument,whether or not thcn due.Thc 30•day period will bc�in when the notice is given. g;,�;_;
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<br /> Unless Lender and Rn�rnwer othenvise nFrec in writing, any application uf pracceds to principal shull not extend or _
<br /> ,-=-- �--- ��"�' --� postpone the d�c date oi ihe mnnthly payments refcrrcci to in para�raphs l and 2 or change the amount of the payments. !f �,.�;�
<br /> •� " .„ ; .,,e�, undcr paragraph 2l the Property is acquircd by Lcader, Borrower's right to any insur•uuc policics and proceeds resulting firom E=-"
<br /> � :-`�. damage ro the Property prior to the acquisition shall pass to Lcnder to the extent of the sums secured by tl�is Seeurity Instrument r���s-
<br /> . . " ' �' h, immediately prior to the acquisition. �'_�
<br /> 6.Occununcy,Preservation, Maintcnance and Protectlon of the Property; Barrower's Loan Applicutton;I.euseholds. ��:r•
<br /> '� .. �•+s eortower shall occupy. establish,und u�e:IIiC Pruperty a.�Botto�,•er's prineipsl resideuc4 ti:�ithin sixty da;�s after the executien ef �Y"_
<br /> .� �••,�$ this Security instrument and shall continue to accupy the Propeny as Borrower's principal residence for at Ieast one year after �°''
<br /> _ . the date of occupancy, unless Lender othenvise agrees in writing, which a�nsent shall not be unreasonably withheld, or unless �_
<br /> ' _ " extenuutin� circumstances exist wl�ich are beyond Borrower's control. Borrower shall not destroy, damage or impair the ;�„_-.
<br /> .. ' Property, allow the Prop�rty to deteriorate. or commit waste on the Properry. Borrowcr shall be in default if any fotfeiture «_-
<br /> � �,` �` action or proceeding, whether civil or criminal, is hegun that in Lender's good fuith judgment could result in forfeiture of the �"K'°
<br /> Property or othcrwisc matcrially impair thc lien createc!by this Security instrument or L,ender's security interest. Borrower mny R•--•.�_-
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<br /> � � cure such a default and reinstatc,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling --
<br /> . " "' tt�at, in Lender's good faith detcrmination, predudes forfeiwrc of the Bon•ower's intcrest in the Property or other material — --
<br /> � ' � impairment of thc lien crcated by this Sccurity Instrumcnt or Lender's sccurity interest. Borcower shall also be in default if 7�
<br />•. � � • 'r: Borrower, during the loan applicatian process,guve materially false or inaccurute information or statements to Lender(or failed �� '_
<br /> �� � � ' to provide Lender with any material information> in ronnection with the loan evidenced by the Note, inc{uding,but not limited �yw
<br /> � . •'� to,represen[ations concerning Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a `�;
<br /> � leaschold, B�rrower shall comply with ull the priwisions of' the lease. [f Borrou�cr acquires fcc title to the Property, the
<br /> �� leasehold and the fee tiNe shall not mcrge unlcss Lender agrces ta the merger in writing.
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<br /> � ` +��- 7.Pratectinn of l.ender's Ri�hts in the Propertv.If Borrower fails co perforni�he covenants and agreements containod in
<br /> � 't";���•' ` this Securiry Instrument, or there is a legal procecding that may signi�cantly affect Lendcr's rights in the Property (such as a .
<br /> �'�'� ' proceeding in bankruptcy,probute, for condemn.uion or forfeiture or to enforce laws or regulations), then Lender may do and ' '�
<br /> . . �. pay for whatever iti necessary to protect the value of the Property and I.ender's rights in the Propeny. Lender's actions may
<br /> . � include paying any sums secured by u licn which has priority over this Security Instrument, appearing in court, paying
<br /> , ��;;� , reasonable attorncys' fees and cntering on thc Propcny to make repairs. Although L.cndcr may take action under this paragraph „
<br /> , ',";r{�' 7, Lender does not have to do so.
<br /> � ��; Any umounts disbursed by L.ender under this parugraph 7 shall became additional debt of Borrower secured by this
<br /> :}-. , , w, Sewrity Instnimcnt. Unless Borrowcr and L.endcr ugree to othcr tcrms of payment.thesc amounts shall bear interest from the
<br /> : datc of disbursement tu the Note rate and shall be payablc, with interext, upon noticc from Lcnder to Borrowcr reyuesting ,
<br /> �. • payment.
<br /> " S.Mort�agc I�suruncc.If L.cndcr rcquircd mortgabc insurancc as u conditiun of rnaking thc loan sccured by this Sccunty
<br /> ;, ,:, Instrument. Borrower shall pay the preniiums requircd to maintsin the mortgage insurance in cl'fcct. If, far nny rcason, the
<br /> •. � mortgage insurance covera�e reyuired by Lender lapses or ceases to be in cf'fect. Borrower shall pay thr premiums required to
<br /> - "'� abtain coverage substantially equivalent to the mortgage insurance previously in effect, •rt a cost substantially equivalent to the
<br /> � c:ost to Borrower of the mortgage insurance previausly in ef'fect, from an xlternate mongage insurer approved by Lender. If
<br /> substatuially cquivalcnt mortgagc insurance coverage is not available.Borrower shall pay to Lender�ach month a sum cqual to .
<br />' � one•twelfth of the ycarly mortga�e insurance premium being paid by Borrower when the insurance coverage lapsui or rwsed to
<br />- , , be in effect.Lender will aceept, use and rctain these payments as a loss reserve in lieu oF murtgage insurance. Loss i•eserve
<br /> • Form 302B 8180
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