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<br /> 5. F9n•r.nrd ae• �'o�tei�ty I�nsu�'�nce. �orrmvr,r shull kcep the improvements na�v existing or hereaftcr erccted on thc _:
<br /> Property insured against loss by fice, hau�rds includcd witfiin U�e tcrnt "�rtcn�ied coveragc" �nd s�ny other harlyds, inciudinB e=•
<br /> ftoods or fla�ding, for which Lendcr requims insurance. This iusurancc shaU be niaintained in the amounts and for thc perfods
<br /> tliat Lender requires. Tiie insurance carrier praviding the insurancc sl�all be chosen by Dorrowcr subject ta Lender's upproval
<br /> wltich shall not be unreasonably withheld. If Borrower fails to muintain cuvcrage describcd above, Lendcr may, at Lender's
<br /> option,obtnin coverage to protect iJender's rights in the Property in naordance with paragraph 7,
<br /> A11 iusurance policies and renewnls rhnll ne nccept2ble to Lender and shall include a standard mortgn�e elause. Lender
<br /> shaii ae��e!nr ri�i��ta�al3 ihc�li.le°sn�!�^_newala. If Lender reuuires,Aorrower shaU promptly give tu Lender all receipts of
<br /> paid premiums and renewAl notices.In the event of IosF, Borrower shali give piu►��pt noticc to the iasurance c�!n•i�:r a��d L.a�����• ,_
<br /> Lendcr may makc proof of loss if not madc pramptty by Borrowcr.
<br /> Unless Ixnder a�id Borro�vcr otherwise agree in�vriting, insurance proceecis shall be applicd to restoration or repair af the
<br /> Propeity damaged.if the restaration or repatr is economically f'easible and Lender's security is not lessened.lf the restoration or
<br /> repair is not r.conomically feasible or Lender's securlty would be lesseneci, the insurance proceeds shall be applied to the sums
<br /> �ecured by diis Security Instrument, whether or not then duc, with any excess paid to Borrowcr. If Borrower abandons the
<br /> Property. or does not nns�ver within 30 days a notice from I..ender �f�a: tlie insurancc carrier h�s offered to settic a clnim,then
<br /> Lcndcr mny collect the insurance proceeds. Lendcr may use thc procecds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument,whether or not then due.The 30•day period will begin�vhen the notice is given.
<br /> Unless Lender and Borrower olherwise agree in writing, any application of proceeds to principal shall not extend or
<br /> �iostpone the due date of the monthly payments refened to in pa�agraplis 1 and 2 or change the amount of the payments. If
<br /> under paragraph 2l the Pcoperty is u�quieed by Lcnder,Bonn�ver's ri�ht to any Insurance policies and proceeds resultin�from
<br /> damage to the Property priar to the acquisition shall pass to Lender to the extent of the sums secured by this Security lnstrument
<br /> immcdiately prior ta the acyuisition.
<br /> � 6.Occupansy,Preservalloix,Maintenunce nnd Protectlon of the PropeiKy;Borrower's Loan Applicatian; Leaseholds.
<br /> Horrower sliall occupy,cstab�ish,and use the Property as Horrower's p�•incipal residence within sixty days uher the execution of
<br /> this Security Instru►nent and shall continue to occupy tlte Properry as Borrower's princi�al residence for nt least one year<<ficr
<br /> the dnte of oceupancy,unless Lender otherwise agrees in writing. which consent shall not he unrea5onably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Barrower shall not destroy, damage ar impair the
<br /> property, allaw the Property to deterioratc, or commit waste on the Property. Borrower shall bt in defnult if any forfeiture
<br /> uction or praceeding, whetlier civil or criminal. is begun that in L.ender's�*ood faith Judgment c�uld result in forfeiture of the
<br /> Property or otherwise materially impair the licn created by this Security Instrument or Lender's security interest. Borrower may
<br /> cure such d deIauit and rein�iaic,as�,���_�:��^Fµ�"os�r��A,hy causinL the action or proceeding to be dismissed with a ruling
<br /> that, in L.endcr's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material
<br /> impairmenc of the lien created by this Security Instrument or L.ender's security inte�est. Borrower sl�all also be in default if
<br /> Borrower,during the loan application process,gave materially false or inaccurate information or statemenis to I.eiider(or failed
<br /> to provide I.ender viith any material inforniation)in connection with the loan evidenced by the Note,including,but not litnited
<br /> to, representadons concerning Borrower's occupancy of the Propeny as n principal residence.If this Security Instrument is on a
<br /> lcasehold, Bonower sha11 eomply witli 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 l..ender agrees to the merger in writing.
<br /> 7.Pmtection of Lender's Rlghts in the�'roperty.If Borrawer fails tu perforae the covenants and agreements contained in
<br /> this Sec:urity Instrument,or there is a legal proceeding chat may significa�itly affect Lender'9 rights in the Fraperty (sucli as a
<br /> procecxling in bankruptcy,probate, for condenination or forfeiture or to enforce laws ar regulattons), then Lender may do and
<br /> pay far�vhatever is necessary to protect tlie value of the Property:utd Lender's rights in th� Property.�nd n'courton aninY
<br /> include puying any sums sacured by a lien which has priocity aver this �ecur;ty Instrument, appea g P Y 8
<br /> reasonable ettorneys' fees ctnd entering un the Property to make repairs.Althougl�Lender may tnke action under tl�is paragraph
<br /> 7,L.cndce does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instrument. Untess Borrower and Lender ngrcc ro other terms of payment, these amounts shull bear interest from the
<br /> date of disburscmcnt 1t tl�e Note ratc and shnll be payable, with intcrest, upon notice from L.endcr to Bon�ower requcsting
<br /> _ paymeti�t.
<br /> S.1VYortgage insurance.11'Ixnder required mortgage insurance:ts a condition of making the loan secured by chis Secunty
<br /> Instrument, i3orrower shall pay the premiums required ro maintain the mortgagc insurancr.in effect. If. for any reason, the
<br /> mortguge insurance covcrage required by Lender lnpses or ceascs to be in effect, Bonower shall pay the premiun�s rcquired to
<br /> obtain covcrage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivatent to tlie
<br /> cost to Borrower of thc mortgage insur.incc: previously in effect,from an alternate mortgage insurcr approved by L.r,ndcr. If
<br /> subst�ntially cquivalent mortgage insurance covcrage is not uvailnble,Bonower shall pay to Lcnder each month a sum equal to
<br /> one-twelfti�of the yearly mortgagc insurance premium i�cing paid by Borrowcr�vhcn the insut�ance wverage tapsed or cetsed to
<br /> be in effect.Lendcr will accept,use nnd retain these payments us n loss reserve in licu of mortgage insurance. Loss reserve
<br /> Form 3028 9190
<br /> Pago 3 0�6
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