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<br /> � 5. @a7ard or Pra�ty Lasumnte. Borrower shsil! keep ti'�e improvemenu ao�v exisrin� on c�rafter erected an the
<br /> PE+operty insUred egainst toss by fire, ha�rds irtcluded aviehin the term 'eatended ooverage" and any other hazards. includin� ��
<br /> I � �,.
<br /> floads or t�aading,for which I.ender mquires insurance.This insurance shall De inaintained in the amounts and for th�periods
<br /> that Lender reqnires.7'he irtsuranrc carrier providing the insurance shall 6e rhosen by Borrower subject to Lender's approval ��'�
<br /> �:.
<br /> which shall qot be unreasortably withheld. If Borrower fails to mvntain coverage described above. Lender may, at l.ender's ��
<br /> opdon,obtain wverage to protect I.ender's rights in the Property in uccotdanoe with patagtaph 7. ---
<br /> �;:•..
<br /> All insurance policies and reaewats 5i�11 be aoceptable to Lender a�d shal! include a sta�dard mortgage ctause. Lender �__
<br /> shall have the right to hold the policie�actd rena�als.If Leader reqwres,Borrower shall promptly give t�Lender al!rereipts of `
<br /> paid premiums and renev�al nadces.In the event of loss.Borrower shall give prompt notice to the insurance carrier and Lender. �,
<br /> �__.
<br /> Lender may make praof of lass if nnt tnade prompily by Borrower.
<br />' � Unless Ixnder and Earrower oth:.�wise agree in�vciting.insurance prac�eds shall be applied to restaration or repair of the �
<br /> Property damaged,if the cesYoratian or repair is ernnomically feasible and Leader s sec�rity is not lessened.If the restoration or �-'
<br /> tepair is aot eeonamically feasible or Lender's security would 6e lessened,the insurnnce proceeds shaU be applied to the sutns �"
<br /> secured by this Se�arity Ins�4rument, whether or not then due, with any excess paid to Horrower. If Borrower ahaadons the � �.�
<br /> Froperty. or does not answer within 30 days a wtice�,pm Lender that the insumr►ce carrier has offered to senle a claim,then
<br /> Lender may collect the insauance proceeds. L�►der may use the proceeds to repair or r�store the Property or to pay sums �
<br /> seaved by this Security Insavmeni,whether or not then due.The 30-day period will Esegin when the notice is given. �
<br /> Unless Lender and Bormwer otherwise a�ee in wriring, any application of proce�ds to principal shall not extend or
<br /> postpone the due daie oi the monthly payments referred to in paaagraphs 1 aud 2 or change the amount of the payme�rs. If —
<br />'t:; under pasagnpi�21 the Property is acquired by Lerrier,Bor�ower's ri�ht to acy insuranoe policies and pmceeds resulting Crom ��
<br /> damage to the Property prior to the acquis�tion sF�:��.�ass to Ixnder to the extent of the sums sec�u+ad by this Security Instrument
<br /> imm '�Iy ptlor to tIte acquisitfo�. �'=;
<br /> ` 6.Occupancy,Preservattoo,Malntenance and Peetectton of the Property;Borroa�er's Loan ApplIcation;Leaseboi�Ls. --
<br /> - Boaower sha11 oocupy,establish,acd use the Property as Borrower's principat r��'L.,,nce within sixty days after the exe�ution af �;:,
<br /> .�.`• this Security Tnspvment and shall continue to occupy thg Property as Borro�ver.'$�iir.cipal resadence for at ieast one year after _
<br /> % the date of occupancy. un2ess Lender otherwise agr�s in wriring, which can.�acrt•s`..al!not be unreasonably withhetd,or unless
<br /> � . extenuadng circwnstances exist which aze beyond Borrower's control. Borrow�r shall nR�c �►esuoy, damage or impair the ��:
<br /> } Property, allow the Property to deteriorate, or commit waste on the Property. Borrow�c s'�1:]be in default if any forfeiture —
<br /> i��
<br /> aMian or praceeding,whether civil oc criminal,is 6egun that in Lender's good faith judgmeut cauld result in forfeidue of the ��'
<br /> , Property or otheiwise materiapy impair the liea created by this Security Instrumcnt or Lender's security interest.Borrower may • —.
<br /> cure sucb a default and reinstate,as provided in paragraph IS.isy causing the action or proceeding w be dismissed with a nding �� '
<br />` =j• that, in Lender's good faith de�r^..,�?n3aon, precludes forfeiturr�af the Borrower's intere�c �the Property or othqr�material -
<br /> ;� impairmen2 of the lie;►c�*��.y t�is Security Instnunent or L�rtr�es's security interest. L��wer shall also be in default i€ �
<br /> , Borrower,during the taz�a���r�aA�cess.gave materially.��or inaccurate informatirk-��oi statements to Lender(az�fGv;.�
<br /> to provIde L.ender witiz�y.tnaterial information)in cannection with the loaa eti�denced by tIie Note.including.but not Ei-,...i:zd
<br /> , to.representations c6act�rning Borrower's occupancy of the Properry as a Q�-rci�a'resideACe.If this Security lnsirumerrt is on a � '
<br /> " teasehaid, Borrower sha11 comply with all the provisions of ti:e t�se. Yf_�t��rowez acquires fee dtle to the Property, ths '
<br /> leasehold and the fee title shall not merge unless Lender agrees co 2'ra merger in writing. �
<br /> � .," �7�.Protection of Lender's Rights in the�iro(zerty.If Borrower fails to perform the covenants and agreements contained in
<br /> - ttus Securi Instrument.or there is a le roceedin that ma si ficantl affect Lerider s ri hts in the Pro �;.
<br /> tY fi�P S Y � Y ' S per�+(such as a
<br /> procecding in bankruptcy,probate,fat wndemnation or forfeitwe or to enfr_�.,Q laws or regulaHons),the3 bxader may do and
<br /> �'•, pay ior whatever is neccssary to protect the value of the Property and Ler•a�r's rights in the Properry. L�::r's attions may �
<br /> - include payieg any sums secured �y a lien which has prioriry over this: �.�curity Instrument, appearing �a.e�.:�ayiag
<br /> � reasonable aaosneys'fees and enter�un the Praperty to make repairs.Alt,��ough Lender may take action ur�2;.�,ti�s,�aaa;raph �
<br /> ., ' ?,l.eader�ces not huve�o do so, � : �'� '
<br /> Any amouats di:]ta�:rsed by Lender under this paragrapl� T shal!becvrrrn additionat debt of Boaava�.srcurcd �y this ��
<br /> �,-•-,
<br /> t�� ' Security inswmen��,nr,a�s Bonower and Lender agree to other terms of payment. these amovnts shall bear interest�ara the
<br /> . daie of¢i�'`�r:.rsement ar the Note rate and shall 6e payable. with interest. upon notioe from Lender to Borrower r��eadng.
<br /> '. � payment. —-
<br /> S.Mortgage Iasurance.If Lender requireA morigage insurance as a condition of making the loan secured by t6is Sewrity �,_:
<br /> Instrument, Bormwer shall pay the premiums required to maintain the mortgage insur�nce in effect. If. for any reason,the� __
<br /> . mqrtgage insurance ooverage required by Lender lapses or ceases to 6e in effect,Borrower shall pay the premiums required tv
<br /> � obtain coverage 6ubstantially equivat�nt to the mortga$e insutance previously in effect.at a eost substaniially equivaleutc�.�the ---
<br /> oost to Borrower of the mortgage 8�surance previously in effect, from an siltemate mor;��,�e insurer approved by Lcia�r. If =
<br /> , , � substantialZy equivaient mortgage::�arance coverage is not availabie.Botrower shald�ay to Lender each month a sum equal to
<br /> one-ewelfth of tAe y�r'y mortgage insnrance premium being paid by Borrower���n the insusrance coverage lapsed or ceased to
<br /> ' be in efPect.Lendet a:il]accept,use and reuiin these payments as a loss reser:�vz lieu of mortgage insurance. Loss reserve � =
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