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<br /> 5. Hazard or Pmperty I�s�n� Boaawer shall ke�the impmvements now existing or hereafter erecced oa the ., . , __
<br /> propenyr insured against loss by fue.haTards includad wittsin the term °extended rnverage'and any other ha7ards, includiug . �
<br /> tluods oz flnoQing. for which I.eader requires insurance.This insur2nce shal!be maintained in tbe amounts aztd for the periads ,
<br />� that Lender requires.'Rie iasurance cazrier pzoviding the insurance shall be chosen by Eornowea subject to Lender's approval „. < . �, ,�
<br /> which shall not be unreasoaably withheld. tF Barro�rer fails to m�intain covera;e described above.Lender may, at Lender's ---, -- _ - :'�.::_-
<br /> -� �. �.
<br />� opiion,obiain caverage w protect Lender's rights in th�Property ia accordaace with paragraph 7. . . . . :--
<br /> 1 p� ��p��ies and reaewaLs shall be axeptable ro L�ender and sha11 include a standard mortgage clause. Lender � _ , •-�
<br /> I shail have the right to hold tTae policies and renea+als.lf I�der re�iuir�s.Bosower shall promptly give to L.ender all receipts of f : . . _.
<br />; gaid premiums ansl renearal aodces.In the event of loss,Bormwer sliall give prompt notice to the insurance can�i�r and Lender. :. .. � �
<br /> Ixnder�ay maice proof of toss if not made prompdy by Boxrower. . J' ' �-.�:�-��•Y�-�'
<br />� •• .n�f- .�-., }
<br />� Unless I.ender and Borrower othezwise agree in writing,ins�uance Proce�s slQall be applied to restorarion or repair of the �.°�'�;�
<br /> �s noi lessened.if the restoradon or �� �^'}fi?�+�, --°
<br /> praperty damaged,if the rxstocation or repair is economicaily feauble and Leader's security� .::.a�4�,�
<br /> ati mcPxds shall be hed to the sums
<br /> j repair is not e�onomic�lly feasible oz Lender's security would be lessened,th��°�p �P� �'•:''�'
<br /> se�u�ed by this S�uriry rn ,roent,whether vr not then due,with any excess gaid to Borrower. If Bosower abandons the .
<br /> .'�,�.�,,:.
<br />� proporty,or does not answer withm 30 days a noticc from Lender that the insurance carrier has offeted to seule a claira, then � �' .
<br />� Lender may oollect the insutance Pmceeds. Lender may use the proceeds to repair or reswre the Property or to pay sums 'r.rr
<br /> eriod arill begin when the notice is given. 4'� . � '
<br /> j s e�a r e d b y t h i s S e c u r i ry I n s o c u m e n t.w h e t her or not then due.T6e 30�day F _ -
<br /> h�tioa o f r o c e e d s to princip a l s b a l l n o t e x c e n d o r •- �.—�'�-==—
<br />� UNess I.ender and Boirower otherwise a�iee ia miring.anY aPP� p . --. . . _. .-.,�
<br />., postpone the due date of the monthlY PaYmea�s Eeferred w in paragraphs 1 and 2 or change the amaunt of the paymenu. If � .. '�,.;. .
<br /> . . , ��.�,. ---
<br /> � under patagraph 21 the P�operty is�oquir�d by L�nder,Borrower's right to any insutauce golicies and proceeds resntting from : _+y-�,_`.����,..._
<br /> � n
<br /> damage to the Property prior to sL-.e��;s�sion�h pass to I.ender to the eatent of the svuss secured by this Seauiry "" t . .��°•�°*�L':--
<br /> :�-:,
<br /> + �mmodiately prior w the acquisitiaa. catiou:Leaseholds. --� _
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<br /> � � 6.Ocxnpanc3',Preservatfon,l�4aEnteu�tt�e aad Protectton of the Psa�ty,Horrower's Loan Applt �:��_ �
<br />�� IIvrmuxr shall occuPY,establish,and use thE Frup�Y t h e P r o p e rt y a s B o r r ow e r princi pal residence forgat�least one year�after }.; �,.:
<br /> �Lq c,�'�in im_nL�S I 1 3�I C O II t I II i i C L O�P Y
<br /> the�of accupancy,unless Lender othecwise agrees in a+riting, wluch conseat shall nos be unreasonably withheld,or unless ~.' ,� .
<br /> ' eatemiating �*�*r±-�'.ances exist which are beYaad Borrower's control. Borrower s t�a l l not desuo y, d a i a a Se or impair the �;{;._. —
<br /> a Borrower shall be ia default if any fo�einue
<br /> property, altow the r roperty to deteriorate,or commit waste oa the Pro�. , - �'
<br />�a � acrion or proceeding,whether civ�or r*+mm�r. ns begun tha�in Lender s�d faith judginent oould zesilt in forfeitore of the �-�> �+':_<.
<br /> Praperty or othe�c�se materially imp a i r t h e i i e u c r e a t e d b y t h i s S e c u ri t y I n s��e n t o r I x n der's secvri t g s�teres�Boaower may �°.;.�.�,�;�f
<br />!� � p a r a g r a ph 18 b causia the action or proceed'eng to be dismissed with a ruling . ,. �.:,,,i �;�•'
<br /> care sach a default and reinstate.as P T C ro i�d i n . Y g ''�r: _
<br /> '� oa r�ludes forfeihue of the Borr+oa�'s i�.�est in the Property or at�material ,�.� ,.i� . �'�
<br /> t3�ai, in Lender's goad faith detennmati , . also be'ra default if +:• ?, �.P��;;'''
<br /> • impairment of the lien created by this Sec�ur�T�nsd�ument or Lender's se�riry i:.�.°:�t. Bor�ower shall f ---
<br /> ;i,i� :, _�
<br /> Borrower,durinS the loan application psncess.gave materially falsa or inaca�ate informasion or statemenis to Le�der(or failed .�_:;, ., .�._ ,�•:. T.
<br /> to prmyide Lxnder artth any materlal infor�a�an��n�°n��on with th$loaa evldenced by the Note,inct�ding,but noi limitcd :s� .;.a.:-�;�e_
<br /> . to��r�sentations concemin8 Bosower's oaupancY of the F�penY as a Plincipal residence.If this Securiry t„�.�+,n-�t is on a �rs
<br /> . �7'�Y, �e `' . �.-�,
<br /> leasehold, Borrower shall wmply ar'sth all the Pm�isions of the lease. If Borrower acquires fe�atle to the r . , . . .�,•
<br /> r IeaSehold and the fas rc�le shall not merge nnless Lender agrees to the merger in writing. �° ''`_-�_Y.-�
<br /> ���
<br /> 7.Yrotectlon of Leader's Rlghts[n 4hx I�PertY.If Bo:rower fa�s to perforzn the covenants aad�ments conta�ned� . •..---
<br /> M� :,_,
<br /> this Secudry Insuament,or there is a lega!�:e�ding that may significantly afferx Lender's rights^�+.�e Praperty(such as a __ � . `;i:�,,,�,�.V..
<br /> �--=,�..r..._�:�-:�;: -
<br /> proceeding in banlauptcy,pmb�:�.:,for coa::mnation or forfeiture or to enforce lawa or re�ulaSans?+���er may do aad ^, __ __,. ., ,,.
<br /> - ...�r.y.�,_
<br /> pay for whatever is necessary to p:otxt t�e value of the Propezty and Lercder's r�ghts in the PmpertY• Lender�$acu°��Y � z+,.•
<br /> include paying anY sums secured by a lic� r.�hich has priority over tlris Securiry ?� „*+ent, aPpearinS in conrt. paYing �.,,-. ��+.:'°�
<br /> to make repaiis.Although Ixnder may take action uader this parasraph � � � �
<br /> reasonab2e attomeys'fees and entering on the r raperty _ "'ti". '_-
<br /> 4.,. ,rr�,�
<br /> '7,I,ender does not have w do so. �> ''''` •.�
<br /> . pny amounts disbnrsed by Lender under th3s para�aph 7 shall become additional debt of Borrower secured by this �.� -:���:,-.
<br /> S�y lnstrument, pnless Borcoaer and Lender agree t��4er terms of payment,these amounts sba11 bear interest from the • �
<br /> date of disbuisea�t at the Note rate and s'�L'1 be payable, with interest, upon norice from Lender to Borrower requesHag .
<br /> ' payment. 'ht`, . �.
<br /> � S.Mort�tage Insmance.If Lender reqnired martgage iasurance as a�condition of making the l�secured by thLs SecuntY .;s'`� �.
<br /> r •_ <: ,��,' •
<br /> ' . Insuument. Borrower shall pay the premiums required to maintain the mortgage lnsurance in ef.`er:. If, for any reason. the , .
<br />, `• mortgage insurance coverage reAuited by Lender lapses or ceases to be in effect, Borrower shall�;1 the premiums required to '-�'. _ ,., . .. .. �, .
<br /> , obtain wveiage sibstantially equivatent to the mortgage insuraace previo::sly in effect, at a cost�.bs.antially equivalent to the •'�;;:��.;;�,;..��.�,�pr..!
<br /> � , cost to Borrowez of the mortgage insurance previously in effect,frars an altemate mortgage ias��a z�prove�by Lender. If .u' . ,��'st'�__ .
<br /> ;f�t++ -
<br /> ' � substantially e�'vulent mortgage insuraace coverage is not available,l�oa-�wer shall pay to Lender e��a�th a sum e.cNal to ."�'' ..:�i>:.
<br /> - Cr„a-twelfth of the yearly mortgage insurance preinium bei�g Pa�d hy�orrower when the insurance cavsrage k.cz=��cr ceaseil to * '���µ*.;� . _
<br /> �e i..H effect.L..°nder will acapt,use and retain these pays��s as a loss reserve in lieu of mongage insurance- Lcss reserve ____,-�;��•_
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