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<br />` � . : � 5. Haxard or Prop�ty It�snrance. Borrower shall kecp the improvements now ex� ng or h er erected on the '�_ .' + ':� _
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<br /> . . ' � Property insured against Ioss by 6nz.t�amrds inctuded within the tcrm "extended coverage"and any other hazaids. iruluding '����.
<br /> '« 'r���.Y�� floods or flooding,for a6ich Lender requires insurance-Ttiis insuraace shall be maintained in the amounu aud for the pesiods • �,y: :•� �
<br /> - `r :., ,.':� �'� that Lender requires.The insurance carrier praviding the insurance shaU be chosen by Borrowe�subject to Lendcr s approva! �': ` E �:� ,;�`.
<br /> • ' •1--�-<.� which shall not be ann�asonably withheld. If Borrower fails to maintain wvetage desctibed above, l.ender may. at l.ender's '%` •�� �� �
<br /> � ,y.�r :` �'':�.
<br /> �-" _ : option,obtain rnverage co pratect Lender's rights in the Property in accordance with paragraph 7. ;}
<br /> '- _�;, All �surance policics aad r�ewals shall be acxepta6le to Lender and shal!include a standacd mortgage ciause. ixnder __
<br /> A �. . � :-< shalt have the right to hold the policies aad renewals.If Lender mquires.Borrow�r shall Qrompdy give to Lender all receipts of : •
<br /> - ' ` ` paid premiums and renewal notices.In the event af loss.Borrawer shall give prompt notice to the iasurance cartier and Lender.
<br /> ��° - ' :`� I.eader may make proof of loss if not made promptly by Borrower. - ' ;`� �
<br /> =,,- -.. - ,� :€. . .
<br /> � - Unless Lender and Bomower othera+ise agree in writing,insuiance praceeds s6a11 be applied ta ratoration or repair of the ,-',;•.'
<br /> � � Praperty damaged,if the restoration or repair is economicnlly feasibie und Lender s security is not lessened.If the restoiation or � � .�;,__
<br /> - • repair is not econamically feasible or I.ender's security wovld be lessened,the insurance proceeds shall be applied to thc sums ::�����.�
<br /> '� • � '� secured 6y this Security Insmunent. whether or not then dae. with any excess paid to Borrower. If Borrower abandons the ,
<br /> � Property,ar daes not answer within 30 days a noricc from Lender that tiie insuraace rurier has offered to settle a claim, then __�
<br /> � , Lender may collect the insurance pmceeds• Lender may ase the proc.eeds to repair or restore the Property or w pay sutns __.
<br /> , secured by this Securiry Insuvment,whether or not then due.The 30�ay period wiU begin when the notice is given. ,
<br /> • iJnless Leader and Borrower otherwise agree in writing, any application of praceads to principal shall not extend or
<br /> � � � postpone the due date of the monthly paytnents refer�ed to in paragraphs I and 2 or change the amount of the payments. If __
<br />- 4 vnder paragraph 21 the Property is acyuind by Lender.Borrower's right to any insurance poticies and proceeds resulting from . :"• :=
<br /> ., . .�'�' ��
<br /> •` '` - damage to the Property prios to the acquisition shall pass to I.ender to the extent of the sums secured by this Security Insaument . A.,," `,�
<br /> ` — - ' immediately prior to the acquisition. �''
<br /> . _ .`'�',•' 6.Occupancy.Pceservatloa,Maintenance nud Yrotectlon of the Property,Borrower's Loan Applfcat�on;Leasehotds. ;�.:,�$
<br /> ,:_ ;. ,�_ .
<br /> .. . Borrower shall occupy.establish,aud use the Propeny as Borrower's principal residence within sixty days after the execution of :'r.., ,;,,.
<br /> ' " ±' this Security Instrument and shall cantinue to accupy the Property as Borrower s principal residence for at teast one year after . �},�=;:= "
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