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<br /> 5. Naaard nr Pro�xrty Insuruuce. Borrowcr sliafl kcep the improvemcnts now cxisting on c�rcuftcr crcctcd on the -
<br /> Pri�perty intiured ugninst latis by fire, har,irds includcd within the term "extended coveru�e" and :my utl�cr h�v.►rds, including ,
<br /> ' floods or flooding. for whirh L.endcr requires insurancc.This intiuruncc shall bc maintaincd in thc anwuntti anJ fur thc periods
<br /> • th.0 Lcndcr rcquircti. Thc in.urancc rarricr peoviding chc in�urancc shall bc rh��ticn hy Borr��wcr subjcct tc� I.�n�cr�s approvnl
<br /> which shall ttot hc unrcusonably withhcld. lf Borrowcr fuil+tu muintai��coti'cragc dcscrihrd ahuvr. I.cndcr ma it I.cndcr's
<br /> ..,.�� option,obtuin covcrngc to protcct Lcndcr's riglus in the Pruperty in accurdancc with piiragruph 7• �`b
<br /> All insuranee policies und renewals shall he acreptable io I.enJer anJ ,hall inctude a �tandnrd murt�i'e c�aase. l.c:nder
<br /> shall havc thc right to huld thc policics und rencwals. If L,�:ndcr rcyuires. Qorrowcr shall pmmptly givc tu 1-cndcr all rc:ccipts af ,
<br /> _ paid premiums and renewal ncniceti.In the event of loss,Sorrower shall give prompt notice to thc insurunce carriei•and Lender. \ •
<br /> Lendcr m1y makc proof of loss if not madc promptly by Borrowcr. -
<br /> Unless Lender and Borro«er othenvisc ugree in writing,insurancc pmcecds shall bc applied to resrorution or repair of the .'�
<br /> Property damagcd, if the rcstoration or repai�is ecrnu�mically fcasible iind Lendcr's security is not Icssencd. lf the restoration or �_�-
<br /> �, repair is not economically feasible or L.ender's securiry would be lcssened,the insurance proceeds shall be applied to the sums
<br /> secured by this Securiry instrument, whether or not then due, with uny excess paid to Borrower. If Borrower abandons the ��_,
<br /> - Property. or does not unswer w;thin 30 days a notice from Lcnder that the insuranee canier has offered ta+etNe a claim. then �r,_
<br /> ' � Lender ►nay collect the insurance procet;ds. L.ender may use the proceeds [o repair ar restore the Property or to pay sums _-
<br /> seeured by this Security instrument,w�hether or c►ot Nien due.The 30-day period will begin when the notice is given L
<br /> Unlcss [.ender und Borrowcr ottmrwise agree in writing, uny application of pracc:eJ� to principal shall not extcnd or
<br /> , �� postpone the duc aate of thc monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If _i
<br /> mider paragraph 21 the Property is acquired by L.ender, Borro�ver's right to any insurunce policies:ind procecds rwsulting from
<br />� � , damage to the Property prior to the ucquisition shall pass to Lender to the extent of the sums secured by this Securiry Instrument �;;;.
<br /> immediately prior to the acquisition.
<br /> - ^`.`'w- 6.Occupancy,Yr�ervutton,l►laintenance und Protectton of the Property;Borrm���mr's I.oun Applicutton;Lease�olds. �=°
<br /> �•r. ,, � Borrower shail occupy.estublish,and use the Property as Borrower's principal residence wizhin sixty days aRer the execution of `
<br /> ' this Security Instrument and shall continue to oceupy the Property us Borrower's principal residence for at Ieast one yeac uRer
<br /> ' '"� the date of occupancy, unless L.ender otherwise agrees in writing, which consent shall not be unn;asonably aichheld, or unless
<br />- •I`''« " extenuating circumstunces exist which are beyond Bonower's control. Borrower shall not destroy, damage or impair the .
<br />[�F:c;��,k ! ns��.eny; allaw the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if uny torfeiture
<br /> ��=•�f: � action or proceeding,whether civil or criminal, is begun thnt in Lencier s good fuiit�juugii�e��t �a;;.d s:u!t:� f^*fcer��r� �f the
<br /> ��r'?�'�" ' Pruperty or othenvise materially impair the lien created by this Security Instrument or l.ender's secu�ity interest. Borrowcr may
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<br /> � ,. cure such a default flnd reinstate,as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling
<br /> `,�W■,�,.� that, in Lender's sood faith determination, precludes forfeiture of the Borrower's interest in the Propercy or other muterial
<br /> -- °:1��,� impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> _.-��;� Borrawer,durin�the loan applicution process,�ave materially false or inaccurate information or statements to Lender(or fuiled
<br /> -°_-.�;�;� to provide L.cnder with any material information)in connection with the loan evidenced by the Note, including. but not limited
<br /> J..r��ans.� to,representations concerning Borrower's occupancy of the Property as a principul residenca If this Security Instrument is on a
<br /> -•-�-`+�r�� leusehold, Borrower shall comply with all the provisions of the leasc. If Barrower acquires fee tide �o ehe P�ap�nY� the
<br /> =,:��. leasehold und the fee title shall not merge unless Lender agrees to the merger in writing.
<br /> = 7.Protecttoit of Lender's Rlghts in the Froperty. If Bvrrower fails to perform the rovenants and a�reements contuincd in
<br /> � this Security Instrument, or there is a legal proceeciing that may significantly Affect Lender's rights in the Property (such as a
<br /> ----- proceeding in bankruptcy.probate, for condemnation or forfeiture or to en�'orce laws or regulations), then Lender rnay do and
<br /> _ ___.-..� pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's ac�ions may
<br /> - tnclude paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> �� — rcusunable attorneys' fecs and entering on the Property to make repairs.Although Lender may take action wider this paragruph
<br /> 7,Lender does not have to do so.
<br /> _ Any umounts disbursed by Lender under this paragraph 7 shall become additioral debt of Borro�ver secured hy this
<br /> ,.�._� Security Instrument. Unless Borrowcr and Lender agree to other terms of payment, these amounts shall bear interest from the
<br /> dute of disbursement at the IVote rate and shall be payable. with interest, upon notice from Lcnder to Bonower� requcsting
<br /> .r�_y.;;;,,a. payment.
<br /> —_-�-_= S.Mortgage Lnsuriuice. If L.ender required mortgage insurance as a condition of makins the loan secured by this Secur�ty
<br />__ _____-�?.� [nstrument, Borrower shall pay thc ptemiums requircd to maintain.the mort�agc insurance in effect. If,for any mason, the
<br /> - F-- � �; mortgage insurance coverage required by I.ender lapses or c�ses to be in effect,Borro�ver shall psy the premiums required to
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<br /> — - ��� obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equiv�lent to the
<br /> �F.�'�,,�;���;;,` cost to Borrower of the mort�age insurancc pmviously in effect, from an alternate mongage insurcr approved by Lender. lf
<br /> =. ��<<"�-!i,s substantially equivalent mongage insurance covcragc is not avnilable. Borrower shall pay to Lendcr each month a sum equal to
<br /> '°'. �� �, one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurunce coverage lapsed or ceased to
<br /> ° �' '" be in effect. [.ender will accept,use and ret:�in these payments as a loss reserve in lieu of mortgage insurance. L,uss reserve
<br /> -- ., •• Form 3028 9I90
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<br />��"'�••,:`L• �. Pugo 3 of 6
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