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<br /> ` f., 5. Aa7ard or Froperty Iasmauoe. Borrower sfiall iceep thc improvements now exis�ng or hereafter erected on the � 4 `�
<br />-`'".n ••� � Property insure,�against loss by fire.halards inctuded wit6in the teim 'extended coverage"ar�d any other hamrds.inclading ': _ :" .t.':
<br /> • ' '.`��' floods or�laoding.for whicb Lender req�ims insurance. This insurauce shaii 6e mainteined in the amounts and for the periods ```, ' ��`:�`�. :
<br /> � `'� ` tLat Lender requires. Tbe iasvrance carrier providing the insnrartte shall be chosen by Borrower subject tc�Lender's approval ':.. z.; .- � .':
<br /> � •.`.'.. which shall not be.unreasonabfy withhel0. If Borruwer frils to maintain coverage described above. Lender may.at Lr�Wer's
<br /> - ". �' '`.: option.obtain�overage to protect Lender's rights in the Property in accordance with paragraph?. (� � <%�. ; '
<br /> A}1 insurance poIicies and renewals shall be acceptable to Lender and shall inct�cde a standard mortgage clause. I.ender � � `
<br /> _- = shall have the right to hold the poIicies and reaewals. If Lender requires.Borrawer shall pmmptly give u►l.ender all receipis of � -� --
<br /> paid premiums aad n�newal notices.ln the event of loss.�orrower shall give pmmpt notice to the inn�.ance carrier and Lender. � . . ..,:-..
<br /> .•:`_;. • Lender may make praof of loss if not made promptty by Borrower. � ';,-•� �;`
<br /> • Ualess Lender and Borrawer otherwise agree in writing,iasuraace pmceeds shall be applied to restoration or repair of the � �' �'� �
<br /> ' ;� , . Property daznaged.if the restoration or repair is ecc�nomically feasible aud L.ender's security is not tessened. If the restoration or • �` �_�. �
<br /> � ,, repair is nat eoonomically feasble or I.ender's sec�rity woutd be lesseaed,the iusurance pmceeds shatl he applied w the sums � r -__
<br /> � � secured by this Security Insuument,whether or not then dne, with azry excess paid to Bonower. If Borrower abandons the � : _ . .
<br /> � `�� ` Property,or does not answer wiUun 30 days a notice from Lender that the iasurance carrier 4as offend to settle a claim,then F, =--� z,� _ ._,
<br /> _ . =`� Lender��ay collect the ins�ra�pmceeds. Lender may ase the pmceeds to repair or restore the Propepty or to pay sums = �
<br /> - , sew�ed by this Security inctmm�nt.whether or not then due.The 30-day period will begin whea the notice is given. ,� ----.-
<br /> ,r.�:•-, •�. ,:: :�;� tJnless Lxnder and Borcower otherwise agree in writing, any applicatian of proceeds to principaf sl�aU not extend or
<br /> . • ,'��; postpone the due date of the montlily paymems referred to in paragraphs i and 2 oc change the amoant of the payments. If �
<br /> , �, under paragraph 21 the Froperty is acquired by Lender,Borrower's rigM to any insnrance policies and proceeds resulting from -
<br /> ` � �� damage to the Property prior to the acqaisidon shall pass to Lender to the extent of the samg secured by this Seauity Instrument � _—
<br /> . , r._, immediately prior w the acquisition. .,. ..�
<br /> ,.�.-:�--:-•,;,.r.� 6.Uoeupancy,Pt+zser4atioa,Maintenence aQd Prot�on of the Property;Borrow�'s Loan Application;Leasebolds. - �' c°� -
<br /> Borrower shall occupy,establ�sh,and use the Property as Borrower's principal residence within sixty days after the execution of `��''�� .•..�- -
<br /> this Securi Insuument and shall cantinae to occv the P�o � -'�' �
<br /> ; ' n+ PY p�y���wer's princepal resideuce for at teast one year aRer . , ��.�r�_. ..
<br /> the date of o an unless Lender otherwise a g y "" A ���r
<br /> " ',.'�5�� �P �Y• ST�in writin .which wnsent shall not be unrcasanabl wIthheld,or unless ��'��``. ^_ :.-�.--
<br /> -�. -_ �� exEemiating circumstances exist which are beyond Eorrower's eontrol. Bonower sha11 not destroy, damage or impair the °:=,:,,,--.�4"�'�`�
<br /> ' ' Property.allow the Property to deteriorate. or commit waste on the Properiy. Borrourer shali be in defautt if atry forfeiqm !.;:`s;f. `�.���
<br /> � action or proceeding,whether civil or crimiaal, is begun tbat in L.ender's good faith judgment could result in forfeitune of the ;"•�1ez'` _-- --
<br /> . �; .�'' '! Property or otherwise materially impair the ti�cmated by tivs Secuiity Insdument or Lender's security interest.Bormwer may ':�':,j�'�••,:�::`��.
<br />- .,:�:i:i;. � cure sucb a defanit and reiagtate.as provided in paragrapi�18.[ry caacing the action ar proceeding to be disrnissed with a roling ::..';;;;� , .°.:-
<br /> . that, in Lender's good faith determination, precludes forfeiwre of the Bornower's interest in the PropeRy or other materia] '�"�"'4'•`"''��s'�
<br /> ,,.�i�r•ti..� ' %.'—
<br /> .. , impairment of the lien cmated by this Security Instnun�nt or Lender's security interest. Bortower shall silso be in default if ; :f"'�'�''•-_srge=_
<br /> _. ' . Borrower,during the loan application process,gave materially false or inaccurate information or statemeats to Lettder(or failed , �:_�;_ ' _--_-
<br /> - ' . ,• . to provide Lender with any material information)in conneaion with the loan evideaced by the Note.inctuding;but not limited - -
<br /> • .,:;. to.representations concemiag Borr+ower's accupancy of the Property as a principal residence.If this Seairity Instrument is on a �• f°�`•'��•��_'-�.`,�._.
<br /> • • leasehold, Borrower shall cumply with 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 I.ender agrees to the merger in wridng. ,�' ' �-•'°'+�
<br /> 7.Protertion of Lendcr's Rights�n the Property.If Borrower fails to perform the covenants and agreements contaiaed in '":� -�.p
<br /> � .. • this Suvrity Instrument,or there is a legal proce�ding that may signifcantly affect Lender's rights in the Property(such as a
<br /> • � � proceeding in bankrUptcy,probate, for wndemnatton or forfeiture or to enforce laws or regulations). then Lender may do and �°'r-'°";�; .:-__.___
<br /> � � • ' pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property.Lender's actions may ;�-�"�"-��`=�=
<br /> ' . � include paying any sums serured by a lien which has priority over this Security Instrument. appraring in court, paying •� ;_�_���_�=;�.---
<br /> " , reasonable attorneys'fees and e::tering on the Property to m.ake repairs. Although Lender may take action under t�is paragraph ,--
<br /> . 7,L.ender does not have to do so. ' �_
<br /> • . - Any sunounu disbursed by Lender under this paragrapb 7 shall become additional debt of Borrower secured by this ':�' _ _
<br /> � Security lnstrument.Untess Borrawer and Lender agree to other terms of payment.these amounts shall bear interest fmm th� ' � . � -=
<br /> • � . � date�of disbursement at the Note rate and shall be payai�le, with interest, upon aotice from Lender w Hatrower requesting ����t,:�: •
<br /> ' payment. ,: �',
<br /> . . ' . 8.Mortgage Insurance.If Lender required mortga�e insurance as a condition of making the loan secured by this Security ' � ,
<br /> �..
<br /> . � [nstrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If. for any reason, the
<br /> . mortgage irtsurance coverage required by Lender lapses or ceases to be in effect.Bortower shall pay the premiums required to ".... ,-�
<br /> , . •, � ' obtain coverage substantially equivalent to the mortgage insurance previously in effe�.at a cost substantially equivalent to the �''-�_---- �
<br /> cost to Borrower of the mort z e insurance reviousl ''�" �..
<br /> g g p y cn effect, from an aliemate mortgage insurer approved l�y Lender. If
<br /> . � substantially equivalent mortgage insurance coverage is not available. Borrower shall pay to Lender each month a sum equal to .���' ��'`•'"'"�
<br /> • ' one-twelfth of the yearly mortga�e insurance premium being paid by Borrower when ihe insurance coverage lapsed or ceased to �r:i�. ' •
<br /> .`;` be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve ' ���� � . .
<br /> q.. .. `�' � '. .: •
<br /> Form 3028 9190
<br /> . Pago 3 018 � -� � '
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