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<br /> 5. Haz�rd or Fropet►y Insurance. Bonawer .hall kap tho impravernents now existing or herez►fter erected on the
<br /> properry insured aguinst Ic,ss by fire.huuirds includcd wlthin the tcrm"extcnded coverage" und nny c�ther tiuxurds. includfng
<br /> floods or flc�oding.far which I.ender requires insurunce.This Insumnce shall bc maintuined in the amuunts and for the pedade
<br /> thut I.endcr rcqui�es.The insurnnce carrier pm�idinµ the insumrice shull bc chosr,n by Barruwer subject ta Lender's upprovttl r-
<br /> which aha[1 nat be unreusonnbly wtthhetd.lf Borrower fuils to muintuin caveraBc describcd atxwe, l.cn�ler n�ay. ut I.cnder's
<br /> aptian,obtuin covernge to protect Lender's ri�hte in the Propeny ln uccordance with puragrnph 7.
<br /> All tnsurunce pallcics und renewnis shWt bc acceptnblc to Lcnder and shall inctude a standnrde o Le�i►�d�et'W�l�i�lpts of
<br /> shnll have the dght to hald the pol(ciea und ree�e�vuls. If Lender rcquires,Borrawer shall promptiy 8
<br /> puid prcmiums nnd renewal notices. In the event af loss,Horrower shall give prompt nottce to the insurance currfer und Lender.
<br /> I..ender may make praof of loss if not mside promptly by Borrower. __
<br /> Unless Lender and Borrower athervvise agcez 1n wridng,insuranse proceeds shatl be aPP��ed to restoration ar repair of the
<br /> property dsunoged.if the testoration or rcpair is economically feasible nnd Lender's securiry is nat lessened.If tha reswradon ot
<br /> repair iF not economicxttly feasibte or[,ender's secudty would be lessened. the insurance procced•S shu0 be aPPlie��o the aums
<br /> sscured by this Securlty Instrument,whether or not then due, wtth any excess paid to Bortower. If Horrower abandons the
<br /> prope�ty.or daes not answer within 30 days a nodce from Lender thnt the insuranc�carrier hes offered to settt``O�p y'euma
<br /> I.ender may collect the insurance proceeds• I.ender may use the proce�s to repair or restore the Property
<br /> secured by this Secudty Insavment.wheti�er or not thcn due.The 3U-day period will be8in when the nodce is given. _
<br /> (1nless I.ender and Bomower othenvise esree in writing, any application of prooeeds ro principa! shalt not extend or
<br /> postpone the due date ot che mon�iy pay,ncnt� �«�rcc.:t�iz e'�a�Fh°- 2 �� or�hnnoe the amount of the paymeuts. If
<br /> under paragraph 21 the Praperty Is acquired by Lender.Borrower's risht to�ury insurance polictes end proceeds resutting from
<br /> damage to the Property prior ta the acquisition shall pass to Lende�to the exteut of the suras secured by this Security Instnuaent
<br /> immediately prlor to the acquisidon. 1lcation;Leaseholds•
<br /> 6.Q�upaacy,preservallon, Matnteuancx and ProtecUon oi the Pmpertyt Borrower's I.uan APP
<br /> Bonower shall occupy,esectbiish,and use the Praperty es Bortower's pdacipal restdence within sixty days after the executloa of
<br /> this Security Instnunent and shuU wndnuc to occupy the Propeity as Hor�ower�s Principal residence for at least one year after
<br /> the date of occupancy.unless I.ender otherwise ngrees in wriAng,whtch consent shall not be unreasoneblY withheld,or unless
<br /> extenuat�ng circumstances exist v�hich ar� beyond Borrower's conuoL Borrower shall�iot destroy. dama8e or iropai�' the
<br />- Property. aiiow�►e Pcoporty to d�ari8racc. ar m►ttmit�aste`����'pmP�Y• B°rr°WCr shall be in default if any forfeiture
<br /> action or proceeding,whether civii or cdminal. is b�gun thet�n Lender's good faith judgment could result in forfeitare of the
<br /> property or oihervuise materially impuir the lien cr�tted by this Security Insuument nr L.ender's security interest.Borrower may
<br /> cure such a default and reinstate,as provided in�azagraph 18,by causing the action or pmceeding to be dismissed�ch��i�n�
<br /> ' that, in Lender's good faith determination. precludes forfeiture of the Samnwer's interest in the Property
<br /> lmpairment of the lten creatcd by this Secudty Instnurtent or I.ender's security interest. Borrower shall also be in default if
<br /> Borcower>durtng the loan application Pmces.s•gave materlally false or inaccurate informatton or statements to Lender(or failed
<br /> to pmvide Lender with uny matoriel infomiation)in conneccion with the loan evidenced by the Note. tncluding,but aot limited
<br /> to.representations conceming Rorrower's occupancy of the Pmpetty es a princlpal reaidence.If this Security Instrument is on a
<br /> leasehold. Borrower shall comply wtth ell the provfslons of the lease. If Borrower aoqufres feE dtle w the Property. the
<br /> leasehoid and the fee title shsli not merge unless I.ender egcees to the merger in writing.
<br /> 7.P�+otectton oi Lender's Rtghts in the Property.If Borrower fnils to perForm the covenants and agreements wntained in
<br /> - • tdis Security Insuument.or there ts a legal proceeding thnt may significandy affec�Lender's rlSh's !n the Pmperty(such as a
<br /> • praceeding in bankcuptcy,prabate,ior condemnadon or fodeiture or to enforce lawa or regulations).then Lende+r may do and
<br /> pay for whatever is necessary to protect the vetue of the Prope►ty and Lsnder�s ri8hts in the ProperiY• I�er's actions may
<br /> lnclude paytng any sums secureif by a lien which has priority over thls Security Instrument, appearin8 in court. PaYing
<br /> m.�sonabte attorneys'feES and entering on the Property to mak�repairs.Although Ixnda rnay take actlon under th9s paragraPh
<br /> 7.l.ender does not hnve to do so.
<br /> Any amounta disbursed by Lender under this paragraph 7 shall become addlt�onal debt of Borro�ver secnred by this
<br /> S�curitp Insm�mene. Unless Borrower and I.ender sigree to qther temts of payment,these amountg shall bear interest from tha
<br /> � dats of disbursement at the Note rate and shall be payablo, with intemst, upon notice ftom i.ender to Bui�ower t+�qu+xdeB
<br /> payment.
<br /> 8.Mortgage Jnsurance.If Lettder requircd mortgage insurancc us a cunditlon of making the loan secured bY th�s 5ecuRt3'
<br /> Instrument. 8orruwer shall pay the premiums required to maintain the znortgage insurance In effcce. If. for any reason, tha
<br /> mortgage insurance coverage requirod by Lender Iapses or ces;ses to be in effect,Borrower shrill pay the premiums required to
<br /> obtain coverage substantially equivalent to the mortgage inwrunce previously in effect,at a cost substqntially equivalent to cba
<br /> oost to Borrower of the mortgage insurance prevtously in effixt, from an altemate moKgage insurer approved by i.ender. If
<br /> sabstnntiaily equivalent mortgage insurnnee mvernge is not available,Bortower shall pay to Lender each month a sum equal to
<br /> one-nvelfth of tha yearly mortgage insurance ptemium being paid by Borrower when the[nsurnnce coverage lapsed or ceased to
<br /> be in effecc.Lender wiU accept.use and rewin these payments as a loss reserve tn {ieu of mortgage insurance. Loss rescrve
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