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<br /> 5. Hazatd or Property Ineuraacd. Borrower shall keep the improvements now esisting or hereafter erected on , . ,; ' . ' __
<br />_ the Prope;ty insured e�sinst loss by tire.hazarda included withiu tlne term "eatanded coverage" and any other ha7ards, -_ ': ._ • . • - �:.
<br /> including Plauds or ilooding.tar which L�eseder requires insurance.This insurance shali be maintainec3 in the amaunts ,;.--:,`•.-"- '`�--. ��
<br /> xnd for the periods thet Lender sc�quirea.The insutance carrier providiag the insurance shall be chosen bp Borrower ` �. . -,�,
<br /> subject to Lender's approv�l which eholl not t�unreasonably withheld.If Barrower fails to maintain coverage described �. < � . _
<br /> � s�ove,Lender may,at I.ender's option,obtein coverege w protect Lender's rights in the Property in accordaace v�ith � `t -
<br /> _"- paragapA 7. . _
<br /> - AlI insurance palicies and rer�ewale skstf be aaxptable w Leade:end sha11 include a standard mortgage clause. ---- _--_, .-
<br /> Lender ehall have the sight to hold tha policies and tenevrals. If Lendr� requims, $orrower shall promptl� give to ? • sz
<br /> Lender all receipte of paid premiums artd renewel notices.In ihe event of tass,Banower shall give prompt not�ce to the • �
<br /> insurauce carrier end Lender.Lender may make praof af loss if not made pranxgtlY bY Borrow�►'- .':: -:: : ' - �
<br />• � Unless Leader and Borrower otherwise agree in writing.insuranve proc�eds shall be applied to restoraiioA or repair ,...:......:..'�: : :. '.. ��,
<br /> of the Yropertq damaged.if the restoratian or repair is economically feasible and Lender's se�urity is not lessened.If the �;- -
<br /> r�to;ation or repair is not ecanomically teasible or Lender's security would be lessened,the iasurance praceeds sha11 be ;`k<� r�',- -----� =
<br /> applied to the suma secuted by this Security lnstrument,whether or not then due,with sup escess paid to Bono'Ae�'.If ;�,4�,��,�Y3.,'•' ���+�` T
<br /> Barrower ahandons the Property.or does not answer within 30 days a natice from Lender tha:the insurance carrier has �� rr��r _ ,-:
<br /> offered to settle a claim.thea I.endet may collsct the insutance ptoceeds.Lendet may use the proceeds w repair os �;�:�;,,:;;�.. •`• ,� ' -��- �.
<br /> restore the Propercy or to pay suma se�ured by thie Sccurity Instrument,whether or not then due.The 3�'day period will •`:;i�`n� R= � >�,�.ia� �
<br /> 'a whea the notice ia given. , �,�F��-~'`�---
<br /> � �����'` .--°.�.��
<br /> Unlea9 T.ettder and Borrower otherw�se agree in writing,enY BPPlicatiou of proc�eeds m principal shall not estend or :j�%�;�. . �'�`- n 1� -� °
<br /> . gostpc►na the due date o4 the monthly paymeata nietred to in paragrapbs I and 2 or changa the amount of the paymeata. . �� � ' _ � —
<br /> stp �r, .:;�
<br /> If uadet garagraP h 2 1 t he Property ie a c q ui r e d b y L e r►d e t, B a r r o w e r's ri g h t t o a n y i n s u r a a c e p a li c i e s a n d p r ace�ds , .
<br /> �;.c'.;�. ,:,,'�:r� r
<br />. ' resulting Yrom damage to the PropertY prior to the acq u i s i t i o n s h a l l p a s s t o L e a d e t t o t h e e a t e n t of the sums secured b y �;4 u: .,�,,x__ �:"s•,�,
<br /> � this Security Iastrument immediauly prior to the acquieition. �sz€���'" �
<br /> 6.Occupaacy,Preservation.l�dsintenaace�ad�rottetion of the Ptoperty;39mr4 ower's Loan Application; g � _-
<br /> .. Le�seholds.Bona�ver ehall occupY.establieh,and usa the Property es Borrower's Primcipal residence within siatp days i'�`,�,.� • . -���_
<br /> after the esavt'son of this Securitq Instrument and ehaU conUnue to occvpy the PropErty as Bonower's principal �" '.;��;',:� `., ��
<br /> residence for at tea�t one yea*aftec the date of occupaney.unless Lender otherwise agrees an writing,which consent ebaU �.• .T•
<br /> not be unreasanably withheld,or unlesa eatenuating circumstances esist which are beyond Borcower's control.Horrower ';'',;���,,�� : _ ,.�.1 .�_
<br /> shall nat deatroy,damaga or impait the Pro allow the Pro ta deteriorate.or c�mmit waste on tha Prapertq. =-� ?'~:':r' ' `s�
<br /> �t �y ..�%'.:_ .. l�'.Y,l,t rr : .;i . �_ _
<br /> Bonower shall be in de4sult if any YorPeiture action or praceeding,whother civil or criminal,is begun that in Lende�s � '��;�s�{r�'�� � _;
<br /> , ��' i A � �� a.-.
<br /> � �ood faith judgment could result in forPeiture of tha Property or otherwiae materially impair the lien created by thia � � sr,�,r�.��,�di y�s.;.
<br /> �::� a;:,
<br /> .. gecurity Instrument or Lender's security intsrest. Borrower may cure such a default and reinatate,as provided in ��r,;;f,.;��- , ����7;.�_
<br /> ,'tY�'.. �'..,.`,,,�-� �
<br /> paragcaph 18. bq causiag tha actioa or proceeding to be dismiased Nith a ruliag that. in Leader e good faith '� ��'.�%i ��_;". '''
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<br /> determinatioa�precludes forteiture of tho B�rrower's intereat in the Proarty or other material impairmeat of the lien , •�;;�t,. ,��-,�:��:.�
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<br /> ' �� created by thie Seeurity Inatrument or Lender's security intetest.Borrower ehall also ba in default if Honower,during ,-;�;,k;,,st�;�y�,;'�,;�y.,�.t'.:,�
<br /> the loaa application procese. gava materially ?also or inaccurate intormation or statements to Leader (ar failed w ��r:'�'c�.�1�i;;f;, , ,,.-.
<br /> - , provide Lender with any materlal information�in connatian with tha loan avidenced by the Aet..,including�but not ;��'�-�s�� `` 1� ��
<br /> � limited to.represen ;, � ,. ��� +
<br /> tations concerning Borrawer's occupancy ot the Pwpert9 as a priacipal s+esi�zaca.If tlris Security `�r��+ ,z.-•-
<br /> aoa ,
<br /> � Instrument ie on a leas�hold.Bonower shell wmply witb ell the provisioris of the leasa.If Bon�x��r acquirea fee title to ` � !;��." �
<br /> the Property,tha leasehold and the fee t i t l e s h a l l n o t m e rg e u n l e s s L e�t d o r a�r e a s to the mer g e r in writin& ,. '� �"`'`-=
<br /> -_����[ .
<br /> - � 7. Protection oi Lentler's Ri�hte in the Progerty.If Bonower lmle to pertorm the covenants and agreements t� �• f.
<br /> � contained ia tbis Security Instrument,or th�ra io a lagal praceedin�that may ai�nificantly aftect Lender's righte ia the � �%�_;;�:''�'��_
<br /> ' property (such as a praceeding in bankruptcy. probsto, tor conQemnatioa or iotfeiture or to enforce laws or :�,.-,
<br /> � �. rebulauona�.then Leader may do and pay for whatever ie necesaeey to protect the value of the Property aud Lender's - � - --� �J
<br /> � ri g hts in the Property.Lendar's actions may includo peying any aume s�ecured by a lien which t,as pnority over this ��:_:',`�r.���.�
<br /> r� Soc�rity Instrument,appearing in court.pnying ressonable attornaye'teGS and anuring oa the Fivperty to make repaire. � —" �,....
<br /> .'� " .' Although I.endar maq teke action undar thie peragreph 7�I.ender doq not�ave to do so. �„, ��+ � J� ;
<br /> Any amouats�isbursed by Lender under this parepraph 7 shsll bocome additionel debt of Borrower secured by this :;�'�;-
<br />- S e c uri t y I n s trum e n t.U n l e s s B o r t o w e r a n d L e n d e r a g r e a t o othet tertne ot p a yment,these amounts sha3�bear intereat c:�;�;;���'<,
<br /> from tha date of disbursement et the Note rate and ehall bo psyable�with intorest,upon notico trom LendEr t�Borrower ,,� ,. .;;,,-;;;::.
<br /> • requeatin8 PaYmen� ;..,::..'�;,;:<<r 1�
<br /> ,.:.G,���::" ' ,.4:�:'.
<br /> : 8.Mort�a�e Inaurance.It Lender required mottgage insurnneE+as a conditton ot making the loan sec�.�d by this r: , �;,�,.�j�,:__-
<br />� ���� Security Insttument.Borrower ehall pay tha premiums required to meinteln the mottgage insurance in effect.S�,for any : : � .- ..m1.;,:;:�-�..
<br /> � reason.the mortgage inavrance coverage required by Lendet lapses or ce�os to be ln aqtect. Barrower s2�.n71 pay the �� - �a;.',,;;,,n�,X':=:
<br /> ''�•"�•. premiums roquired to obtein coverago eubetantially equivalent ta tho mort�t�e insutanco previously in effecs,st a cost ' � �`_
<br /> substantislly equivalent w tha cost to Borrower of the mortQsgo inaur4nce previausly in afioct. from ea��Jteruate ' ,.,.::.,,..,�.
<br /> mort�age iasurer approvod by Lc�ndet. 1P substentially equivolent mort�are �nsuronce coverage is not available,
<br /> Bonower ehall pay to Lendet each month a aum equal to oae-twel!th of tt�e yearly mortg��e insuraace pramium being .,;,,,�,�.,���.�.r.��}:.t,�,;'.;a":'-
<br /> paid by Horrower whan the inaurenco coverage lapsed or ceased to bo in attect.Lender will accept.uso and retain these .� .�,,,��
<br /> peyments as a losg reserva in li�u ai mortgage msurance. I.ose resorvo paymen� moy no longer bs royuised, � , , ,�➢?;_,
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