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<br />�N�., 5. Hazard or I'roy�rty lnsural�a•r,ird�incl�uled w'i IknctPhchcrn pcx endcd�covc ge'i�ind nny'othcrf luil.urd�`citcluding
<br />_,_�� Pr�periy insured against loss by firc, =:__
<br /> . — floods or flooding, for which Lcnder reyuire+insuruiice. Thi+ in+urance shnll bc m:►int��+�ed in the umaur�t+iuid for thc periodti c :-
<br /> ""3": that Lender requires. 'Phe insurance cnrrier proviJing the insurnnee shall be chosen by 8orruwer subjccl to l.ender'y�+pprnvi�l
<br /> �; which shall not be unrc:ssonably withhcld. If Borrowcr fuils to maintain covcragc dcscribcd abovc, I.c:ndcr may. .►t I..cndcr's
<br /> option, obtain coverage to protect Lendcr's rights in the Property in accordunce with paragrnph 7.
<br /> All insurance policies and renewals shall be ucceptuble to Lender and shall include u ytnndard mortgage cluuse. Lcnder
<br />:_�� shall have the right to hold tlie policies and rene�vals. If Lender requires,Borrower shall promptly give to L.ender aU receipts of
<br /> ��� paid premiums and renewal notices. In the event of loss,Borrower shaU give prompt noticc to the insurance cnrrier And L.ender. �
<br />,�'� Lender may make praof of loss if not made.promptly by IIorrower.
<br /> ::;,�� Unless Lendcr and Borrowcr otherwise agree in writing, insurancc proceeds siiaU be upplied ro restorAtion or repair of the
<br />—.,.�� p�ap�My dmm�ged,if the restoration or repair is ecanomicully feasible nnd I.snder's securiry is not lessened.If the restoraticn or
<br /> — repair is not economically feasible or Lender's security�vould be lessened, the insurance procerds shall be npplietl to the sums
<br /> � securod by this Security Instrument, whether or not then due, with any excess paid to 8orrower. If Donower abandons the
<br />--== Property,or does not answer within 30 days a noticc from Lender that the insurnnce carrier has offered to settle a claim,then
<br /> , L,ender may collect the insurance proceeds. L.ender may use the proceeds to repair or restore the �'raperty or to puy snms
<br /> _--- securecl by this Security Instrumen[,whether or not then due.The 30-day Pleaton of b roceedsetot principal�sh llenot extend or
<br /> �+ Unlcss Lender und Borrower otherwise agrce in writing, any app' P
<br /> _ postpone the due date of the monthly payments referred to in paragraphs 1 and 'Z or change the axnount of the puyments. If
<br /> under parugraph 21 the Praperty is acquired by l.ender, Borrower's right to any insurance policies and proceeds resulting from
<br /> damage to the Property prior to the acquisition shall pass to L.ender to the extent of the sums secured by this Security Instrument
<br /> _-- immediately prior tn tl�s acquisition. ��� __
<br /> 6. Occ�pancy,Preservution, Muintenance nnd Protection of the I'ro Borruwei•'s Loan ApplicatIon; Leaseholds.
<br /> Aorrower shali occupy.establish, and use the Property as Borrower's principal residence within sixty days after the exe,�:ution of
<br /> this Security Instrument and shall continue to occupy the Property as aorrower's principal residence for at least one yctu after
<br /> t����rw�g����mancy. urtless L.ender otherwise agrees in writing,which consent shall not be u�reusonably wothh�eTdiro�r�nl�
<br /> — extenuating circumstances exist which are beyond Borrower's wntroi. Borruwcr �ii�ui na: tl�.,tr��. ..s.'n..a-
<br /> PropeRy, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfciture
<br /> action or proceeding. whether civil ar criminal,is begun that in Lender's good f3ith judgment could result in forfelt:�re of the
<br /> Property or othenvise materially impair the l[en created by this Security Instrument or l.ender's security interest. Horrower may
<br /> ctire auch a deft�ult and reinstaee, as provided in parugraph 18,by causing the action or proceeding to be dismissed with e ruling
<br /> that, in Lender's gnod faith determinztlon, precludcs forfeiture of the Borrower's interest in the Propetty or other material
<br /> impairment of the lien created by this Security Instrument or Lxnder's security interest. Borrower shull also be in default if
<br /> Borrowzr, during the loan application pra:ess.gave materiaUy false Ar inaccurate infarmation or statements to Lender(or failcd
<br /> to provide Lender�vith nny material information)in connection with the loan evidenced by the Note. including,but not liinited
<br /> to,representations concerning Borrower's uccupancy of the Properry as u principal residence. If this Security Instrument is on a
<br /> Ieasehold, Borrower shall comply with ull the provisions of the lease. If Bonower acquires fee title to the Property. the
<br /> leAS�hold and the fee title sh�ll not merge unless L.ender agrces to the merger in writing.
<br /> 7.Protection of I.ender's Righ��in the Property.If Borro�ver fails to perfurm the covenants and agreements contnined in
<br /> this Security Instivment, or there is a leg�l procecding that may signiPtcantly nffect Lender's rights in the Property (such as n
<br /> proceeding in bank►vptcy,probate, for candemnation or forfeiture or to enforce laws or regulations). then Lender may do and
<br /> pny for whatever is necessarJ+to protect the vulue of the Property and Lender's rights in the Pcoperty• Lender's actlons may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, payin�
<br /> reasonable attomeys' fees and entering on the Property to mnke repairs. Altliuu�h Lender may take action under this paragraph
<br /> 7,L.ender docs not have to da so.
<br /> Any amounts disbursed by Lender under this parasraph 7 shall become additional de5t of Borrower secured by this
<br /> date of d sbu ement ut,he Note rase and sh�ll be payable thvith in erestp upon no�icecf m�ULender�t bBonowers equesting
<br /> payment.
<br /> 8, Mortgage Insuranee.If Lender required mortga�e insurance�.s a condition of making the loan secure.�l by this Security
<br /> Instrument, Borrawcr shall pay the premiums required to maintain the mortgage insurance in effect. If, for any mason,the
<br /> _ __ - mortgnge insurance coverage required by Lender Inpses or ceases to 6e in effect,Borro�ver shall pay the premiums required to
<br /> '—'— obtain cflvecage substantially equivulent ta the mortgage insurance previously in effect, at a cost substantially equivalent to the
<br />---� cost to Borrower of the mort�age insurance previously in effect, from an alternate mo�tgage insurer approved by Lender. If _
<br /> °`" subst�mtially equivalcnt mortgage insur�nce wvcragc is not uvailable,Borrower shall pay to Lender each month n sum equal to _
<br /> -- one-twelfth of the yearly mortgnge insurance premium being paid by Borrower when the insurance covemge lapsed or cexsed to
<br /> be in effect. L,ender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 8/80
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