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<br /> 5. Huznrd or Property Insureace. Borrower ehall kcep the improvements now c�stJring ot�Offer•�e�� on the --
<br /> Property insured oguinst loss by ftre. hazurds included withir the term "extended coverage'and anyother huzards. including
<br /> fluods or flacxiing, far which l.ender rcquires insurance.Thls insurunce ahnll be mnintuincd in the amounts nnd for the pe�iods
<br /> thut I.ender sequires. The io�surance cArrier�rovidin�the Insuranco shall be chosen by Horrower subjert to l.ender's upprovul
<br /> which shaU not be unrensonably withheld. If Borrower fuila to mainWtn coverage described above,Lender may. At l.ender'�s
<br /> option. ubtnin covernge ta protect Lender's rights in the Property in accordance with paragraph 7. —
<br /> Att lnsurance policies and renewn�s shnU be acceptable to Lcnder and s;�all inciude u standsurd martga�c clause. I.endcr -
<br /> eh:ill have the right to hold the polIctes and renewals. [f Lender requires,Borrower shall promptly g ive to i.ender all recelpts of
<br /> puid premtums and renewal notices.In the event of lass.Bonower shaU�ive prompt notice to the inswance currier and Lender.
<br /> Lendcr may make pmof of loss if not made promptly by Bonower. Y
<br /> Unlesa Lender und Borrower otherwise agree in wrtting.insurance proceeds shall be applied to rcstor�tion or repalr of the _
<br /> Pmperty demaged,if the restoration or repa�r is economlcally feasibte and Lender's securlty is nat lesuned.If the restoration or
<br /> tepair is not economicalty feaslble or Lender's security wouid be lessened,the insurance pmceeds sfi�l be applied to the sums –
<br /> secuted by this Security Insm�ment. whether or not then duo, with aay excess paid to Borrower. ]f Borroa�er ubandons the __
<br /> Property,or does not nnswer withfn 30 days a notice from I.endcr that the insurance carrier has offercd to settie a claim,then
<br /> Lender may collect the insurance proceeda. Lender may use the proce�s to repair ar restore the Property or to pay sums
<br /> secumd by this Security Instrument,whether or not then due.The 30-day pedod wiq begin when the notice is given.
<br /> Un(ess Lender and Borrower atherwlse agrce in writiag. any applicatfon of proce�ds to principal shalt not extend or
<br /> postpane the due date ai the monthly payments referred to in paragraphs 1 and 2 or chenge the amount of the paymenu. If
<br /> under paragraph 21 the Property Bs acquired by Lender.Borrower's right to any insurance policies and praceeds resulting from
<br /> darnnge to the Property prIor to the acquisition shalI pass to I.ender to the extent of the sums secured by this Security Insuument
<br /> immediately prlor to the acquisltion.
<br /> �. L'xs:�sscy,Preservat[om,M�intenance and Protection of the Property;Borrower's Loan Application;Leaseholds.
<br /> Borrower shal!occupy.establish.and use the Property as Borrower's principal residence wIthIn stxty days after the execution of
<br /> this Security Instrument and shalt continue to occupy the Property as Borrower's principal residence tor at least one year after
<br /> the date of occupancy. unless Lender otherwlse agrees in writing,which consent shull not be unreasanably wIthheld,or unless
<br /> extenuutiag cirewnstances exisi which are beyond Borrower's control. Borrower shall not destmr, damage or ImpAir the
<br /> Property.allow the Pr�nperty to deteriorate. or commit waste on the Property. Borrower shall be in default it any forfeiture -
<br /> action or pmoeeding. whether civil or criminal,ls begun that in I.ender's good faith judgment wuld result in forfeiture of the
<br /> Property or othenvise materially Impair the lien created by tlus Security Instrument or Lender's secwiry interest.Borrower may
<br /> cure such a default and ceinstate.as provided in paragraph 18.by causing¢he acUon or proceeding ta be diamissed with a ruiing '
<br /> that,in Lender•s good faith determination, precludes forfeiture of the Borrower's interest in the Propecty or other material
<br /> impairment of the lien created by this Securtty Instrument or L.ender's secur�ty interest. eorrower�hall also be in default if
<br /> Borrower.durins the loan application process.gave materlally false or inaccurate information or statements to Lender(or failod
<br /> to provide Lender with any material information)in connection�vith the loan evidenced by the Note,including,but not llmited
<br /> to.representations�nceming Borrower's occupancy of the Property as a principal residence. If th�s Secauity Instniment is on a
<br /> leasehold, Borrower shall comply with all the pmvisions of the lease. ff 8orrower acquires fee Gtle W the Property, the
<br /> leasehold and the fee title shatl not merge unless Lender agre.es to the merger in writing.
<br /> 7.Protettton oi Le�tder's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> this Secudty Insavment.or there is a legal procx,eding that may slgnificantly affect Lender's rights in the Property(such as a
<br /> procoeding in bankruptcy.probate,for cortdemnation or forfeittu'e or to enforce laws or regulapons),tl�aen Lender may do and
<br /> pay for whatever ts necessary to protect the value of the Property and Lender's dghts in the Propaty. Lender's acdons may
<br /> include paying any sums secured by a lien which has priority over this Security Insmimeat. appearing ia court, paying
<br /> reasonable attomeys'fees and entering on the Property to make repaira. Although I.ender may take ecdon under this paragraph
<br /> 7.Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shtdl become additional debt of Borrow..r secured by this
<br /> Security Instrument.Unless Bo:rower and Lender agree to other terms of payment,these amounts ahall bear interest from the
<br /> date of disbursement at the Note rate and shall be payable, with intenzsc. npon notice from Lenda to Borrower requesting
<br /> payment.
<br /> $.Mortgage Insurance.If Lender required mortgage insurance as a oondition of enaking the laan secured by this SecurIty
<br /> Insuument. Borrower shall pay the premiums required to maintain the mortgage insurunce in effat. If, for any reason, the
<br /> martsage inswance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to
<br /> obtain coverage substantially eyuivalent to the martgage insurance prevlously in effrxt.at a oost sub�antially equivalent to the
<br /> cast to Borrower of the mortgage insurartce previously in effect. from an altemate mortgage insurcr approved by Lender. If
<br /> substantinlly equivalent mortgage insurance coverage is not available,Borrower shall pay to Lenderach month a sum equal tu
<br /> one�twelfth of the yearly mortgage Insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> br in effect.Lender will accept,use and retain these payments as a loss reserve tn lieu of mortgage insurance. Loss resen+e
<br /> •Fotm 3028 8180
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