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<br /> . , 5. pamrd ar propertp Insvra�.,,� Borrower shall keep the improvements n�exining or hereafcer er�cted on the ' -,' - - .
<br /> • ,:�t`. :.
<br /> ` � ` property insured against loss by fire. hazuds included within the term "extended ooverage" and any other hazards. including ,. ,` _
<br /> . ' - flaods or flooding,for which Lender requires inseuance-'I7�is insutance shall be tnaintained in the amounts and fos the periods °�a ;.; .t'.�'-�
<br /> ' that Lender requires.The insurance rarrier providing the'sr�suranc�e sh311 be chosen by Borrower subjea to Lender s approval '.: ; .. ;-.c •,'.
<br /> �. � which shall not be unreasonably withheld. If Horrower fails to maintain ooverage described above. Lender may. at L.ender s ,."�_,. , <
<br /> . , option,obtain coverage to protect Lender s rights in the Propercy in aaordance w�th Paz'd8*aPh�• ::-c�� : �
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<br /> Aq insurance policies and renewals shall be acceptable to Leader and sh,all include a standard mortgage cla�se. Lendec '..,L .
<br /> ` �,`" shall have Ehe right to hotd the policies and reaewals.If 1.ender requires.Borro�ver shall prosaptly give to Lender all receipts of � .. .
<br /> � � • paid premiums and renewal notices.In the event of loss.Borrower shall give prompt notice to the insurance carrier and I.ender. ��-`.
<br /> ,''. ' �` Lende�may make proof of loss if nat made pmmpdy by Borrower. ,. '<:. �.'� _
<br /> ' '�--�;,�.:< Unless Leeder and Borrower otherwise agree in wriring, insurance pmcee�is shall be applied to restoration nr repair of the . • '. ,
<br /> _ . �r—�__. ` `
<br /> � -- , property damage�,if the resEoration or repair is ecana m i c a lly f e a s i b l e a n d L ender s securi ty is not lessened.If the restorafion or `t _=_: " `
<br /> �` �`a,°� repair is not economically feasible ar Lender s security would be lessened,the insurance proceeds sl�atl be applied to the sums � .
<br /> � secured by this Security Instrument, whether or not then due,with anY excess paid to Borrower. If Borrower abanrlons the : ;
<br /> �' . Praperty,or does not answer within 30 days a notice from Lender that the insurance cacrier has offered to settle a claim,then _ ;.,�,�s::�'�'.•.
<br /> �- -`� l.cnder may collect the insurance proceeds. L.ender may �se the praceeds to rePair or restote the Property or to pay sums •
<br /> _� ` ; secured by this Security Instsument.whether or not then due.The 30-day period will begin when the no6ce is given. •-_ � ,
<br /> • �,` (Iniess Lender and Borrower otherwise agree in writin8.anY aPP�ication of pracee�s to principal shall not extend or �
<br /> � Y_�.; � , �.;'• ,`.��`�,z`.:-_.
<br /> � � postpone the due date of the monthly payments referred to in paragtaphs 1 and 2 or ctiange the amount of the paymetrts. If `� '4 .`,..`,
<br /> . ' under patagraph Z1 the Property is acquired by L.eader,Borrower's right to any inswance policies and prooeecls resulting from ; <i �,,_•.
<br /> � �`T'` • damage to the Property prior to ttte acquisitian shall pass to Lender to the extent of the sums secured by this Security Inshument :`r __-
<br /> *�.'-::
<br /> • , . immediateiy prior to the acquisiuon. _ ; :�
<br /> 6.Occupancy,Preservation,Mafntenance and Protection of We Property:Borrower's Loan Appticatton;I.easeholds. ,..S.,.�.
<br /> Barrower shall occupy.estabtish,and use the Property as Borrower's principal residence within sixty days after the execution of ;�
<br /> ;�`�.r. � :; this Security Insttument and shall conUnue to accupy the Property as Borrower s principal residence for at teast one year after ._.`';'--�.,:,_
<br /> - •-'=+ the date of occupancy.untess Lender otl�ernrise agrees m W�m►g•which consent shall not be unreasonably withheld,or untess � ._.�,i_
<br /> -' - .. _ :.�S` eatenuating circumstances e�cist which are beyond Borrower s control. Horrower shall not desvoy. damaSe or impair the L, "..,' `E�-
<br /> .� _.
<br /> ' '. . .. � Pmperty. allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeitune �.�,.
<br /> , ' action or proceeding, whether civil or criminal.is begun that in Lender s gaod faith judgment c:ould result in forfeiture of the :: :;.:�,_�-
<br /> :� �r ,. ,��-::
<br /> � �� .;• Property or otherwise materially impau the lien created by t his Security I n s t n u nen t or L e n d e r s s e c u r i ty i n t e r e s t.B o r r o w e r m a y ,-: :��;s,;;z
<br /> � cure such a default and reinstate.as provided in paragcaph 18.by causing the action or proceeding to be dismissed witb a ruling =. ,.
<br /> - � .µ.� that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material ' ,,.#�::
<br /> . ��' �� impairment of the lien created by this Security Instrument or Lender's security intetest. Borrower shall also be in default if _���
<br /> '.���,-
<br /> ' - � • Bonower,during the loan appliratian process,gave materially false or inaccurate information ar statements to Lender(or failetl :•rf-�
<br /> v., ki!�;.
<br /> • , `� - to provida Lender with any material infarmation)in wru�ection with the loan evidenced by the Note.[nclading.bu[not limited .:;.,L�:_,•
<br /> �° to.repnesentations wnceming Bonower's occnpancy of the Property as a principal residence.If this Security Instrument is on a ��
<br /> � ''�` � � leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee 6de to the Property, the , ��-,-.;;:
<br /> � •' '� '� (easehold and the fee ride shall not merge unIess I.ender agrees ro the merger in writing. �.� �*'�-`
<br /> ' 7.Protect�on o!l.ender's Itights in tbe Pruperiy.if Borrowcr fails ta gerform the covenants and agreemenu contained in _ �-�
<br /> . -- ;-.-. this Security inmument.or t5ere is a legal proceeding that may significandy affect l.ender s rights in tIte Property (such as a • �_
<br /> • -'' proceeding in bankruptcy. probate,for wndemnatian or forfeiture or to enforce laws or regulations), then Lender may do and •� ���<<.�
<br /> �-�--�-- -•� pay for whatever is necessary ta protect the vatue of the Property and Lender s righu in the Property. Lender s actions may _ _--'r`°.
<br /> -=;:���;_
<br /> include paying any sums secured by a lien which has prioriry over this Security Instrument, appearing in court, paying .. , .� __
<br /> ' reasonable attomeys' fees and entcring on the Property to make repai�s.Although Lender may take action under this paragraph -��t
<br /> 7,Lender does not have to do so. . � �T -
<br /> � . Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this �•�;
<br /> . ' •� Security Instrument. Unless Borrower and Lender agree to other terms of payment.th�e amounu s h a l l bear interes t from t h e • �. ��,,-,-�,"
<br /> •� � , �.. ._. date of disbursement at the l�iote rate and shall be payable.with interest, upon notice from Lend�to Barrower requesttng - _
<br /> . . .� ,: payment. � . : •. ' . ..
<br /> '�: • � 8.Mortgage Insurance.lf l.ender required mortgage insurance as a condition of making the toan secured by this Security
<br /> .. � ' Instrument. Borrower shal! pay the premiums �equired to maintain the mortgage insurance in effect. If, for any reason.the ; . . : .
<br /> ' • � � mortgage insurance caverage required by L.ender lapses or c.eases to be in effect.Borrower shall pay the premiums required to • • .
<br />� � , obtain coverage substantially equivalent to the mortgage insuranee previously in effect.at a cost substantialty equivalent to the , . �
<br /> _.. . �. cost to Borrower of the moagage insurance previously in effect, from an alternate mortgage insurer approved by l.ender. IF .. _
<br /> '� . �� � substantially equivalent moRgaoe insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to .
<br /> . . • ' one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed ar ceased to
<br /> { be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve : .
<br /> Form 3028 9190
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