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<br /> . 5.Ha�xrd or Property In�urance. Borrowcr shsl!ko�p thc impravcmcn4R now cxisUng on c�reuftcr crcctcd on the Property j '�•"'i "`
<br /> insureJ against loss by firc, he•rurds includcd within thc tcrm "cxtcndcd covcragc" and any athcr hiv�cuds, �ncluding Aacxla ur � `�
<br /> flooding,for whlch Lcndcr requin;s lnsurartcc.Thia insurnncc shall bc maintaincd in thc amoun��und for�ha periods that[.cndcr� :ti_���,.
<br /> ''� � rcqulres.'It�c lnsurancc carricr pmvidk►g thc inaurancc gtiall bc chosen by Borrowcr subjcct to L.cndcr's appraval whish shall not� '"='=
<br /> � bu unreasonably withhcld, If Bottowcr faUs to mafitnir► covcragc dcscrtbcd abovc, l.cndcr muy, at Lcndcr's opdon, obtnin� , ��,µ"
<br /> coveregc ta prouxt Lender's rlghts in the Propeny in accardancc with paragrnph 7. .�."�'�
<br /> AU insurence policies end renewels shall be acceptable to Lender and shaU include a standard mortgaga clause.Lender shell � " -
<br /> ; have Ihe dght to hold thc paacies and ren�wals. If Lcndcr requires,Horrowcr shall prompdy givc to I.cndcr all rcccipts of paid 0 - `-
<br /> premiums and renewel nodces.In the event of loss.Borrower shall give prompt nodce to the�nsurance cacrler and I.ender.Lender� _._
<br /> �. may make proof of loss if not mede promptly by Borrower. � `
<br /> # Unless Lender and Borrower otherwise eg�ee in wdting,insurancc procceds shall be applied to mstoration or rcpair of thc
<br /> � Prnperty damaged.if the restoraHon or rcpair is economically fcasible and Lendcr's sectulty Is not Icssened.If thc restoradon or
<br /> � repair�S not economically feasible or Lendu's sccurlty would be lessened,the insurance procceds shall be appUed to thc sums
<br /> secured by this Securlty Instrument, whether or not then due, with any exccss paid to Borrower. If Borrowcr abandons tha
<br /> � Prope,�ty,or does not answer withIn 30 days a nouce fmm Lender that the insurance carrier has offered to seule a claim,then '
<br /> �� Lendu may coUect 1he insurence proceeds.I.ender may use the proceeds to repair or reswre the Property or ta pay sums socnred _
<br /> � by this Sccurity Insuument,whcther or not then due.The 30-day pedod will begIn whe.n thc nodce is given.
<br /> Unless Lender and Borrower othenvlse agree in writing,any applicadon of proceeds w principal shell not extend or postpone
<br /> the due date of the monthly paymenis referred to in puragraphs 1 and 2 or chenge thc amount of the payments.If under paragraph
<br /> , � 21 the Property is acqulred by I.endcr. Borrower's dght to any insarance policles end procceds resulting from damage w the �
<br /> � . Property prior to ihe acquisltion shall pass w I.ender to the extent of the sums secured by this Securiry Instrument immediately
<br /> pdor to the acquisition.
<br /> r 6.Occupancy,Prcservation�Maintenance and Protectioa ot the Property; Borrower's Loan ApplicAtion;Lwseholds.
<br /> � Borrower shaU occupy, establlsh,and use the Property as Borrower's pdncipal resideryce within sixty days efter the execudon of
<br /> this Security Insuument and shail continuc to nccupy the Property a4 Borrower's prIncipal residence for at lcast one year after the
<br /> date of occupancy, unless Lender od�envise agrees in wrldng, which consent shall not be unreasonably wIthheld, or unless
<br /> extenuadng clrcumstances exist which are beyond Borrower's control.Borrower shell not destroy.damaga or impair the Property, �.-
<br /> allow thc Property to deteiiorate, or commit waste on tha Property. Bomower shall be in default if eny forfeiture acdon or
<br /> " ' pracoeding,whether civil or criminal,is begun that in Lender's good faith judgment could msult in forfeiture of the Property or
<br /> otherwLse materlaUy impair the Gen created by thLs Security Instrument or Lender's securlty�nterest»Borrower may cure such a
<br /> default and reinstate,as provided in pacagraph 18,by causing the ac6on or proccedIng to be dismissed wIth a rullng that, in
<br /> Lender's good fnith deGCrminadon,prccludes fodeiwre of the Borrower's intcrest in the Propeny or other materlal impairment of
<br /> the llen created by this Saurity Instrument or I.ender's security interes�Borrower shall also b¢in default if Burrower,durLig tho
<br /> loan epplicaaon process,gave materlally false or inaccurate informadon or statements w Lender(or failed w provlde Lender with �
<br /> � ony mater3al info�msdon)3n connecdon wIth Ihc loan evldcnced by the N�te, including, but not Wnited to,representatIons °
<br /> . conceming Borrower's occupancy of tho Property a4 a principal residence.If this Securlty Instrument is on a leasettold,Boimwer
<br /> shall comply with all the provisions of the lease.If Borrower acquires foe dtle to the Property,the 1^.asehold and the fce tide shall °
<br /> not meige unless Lender agraes w the merger in wriung.
<br /> ?.Protectbn ot Lender's Righte in the Property. If Borrower fails to perform the covenants and agreements contsined in �
<br /> this Securlty Instrument,or there Ls a legal proceeding that may signiticantly affect Lender's rights in the Properry(such as a _ - --
<br /> .. procer,ding in bankruptcy,probate,for condemnatIon or forfeiwre or to enforce laws or reguladons),then Lender may do and pay __�
<br /> � for whatever is necessary to protect the value of the Property and Lender's rights in the Property.Lender's actions may include
<br /> paying eny sums secumd by e llen which has priodty over this Security Instrument, appearing in court, paying masonablc .:}
<br /> _- attomeys' fees and cntering on the Propecty to make repairs.Although Lcndcr may takc action under this paragraph 7� Lender –
<br /> � does not have w do so. -_ __—.--
<br /> ' M amounts disbursed b Lender under this '�'�-="=s�--�-
<br /> � Y y paragraph 7 shall become addidonai debt of Borrower secured by this Security ,�,.,,,R:
<br /> InstrumenG Unless Bomower and Lender agrcc to othcr terms of payment,these amounts shall bear interest from the date of f;�`'_
<br /> i disbursement at the Notc mtc and shaU be payable,with interest,upon notice from Lendcr to Borrowcr requcsdng paymcnG �"��°'`"'
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<br /> f S.MoMgAge Insuranca If Lender required mortgage insurance as a condition of making the ioan secumd by this Security ���r
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<br /> Instrumcnt, Borrower shall pay the prcmiums requircd to maintain thc mortgage insurance in effect If,for any reason, the � `� ��-'
<br /> � mortgage insurance coverage mquired by Lender lapses or ceases to be in effect, Borrowcr shall pay thc premiums requimd to k
<br /> obwir►coverage substantially equivalent to the mongage insurance previously in effect,at u cost substantially equivalent to the
<br /> , J cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by L,ender. If �
<br /> � substantially equivalent mortgage insurance coverage is not available,Borrower shali pay to I.ender each menth a sum equal w
<br /> - one-twelfth of the ycarly mortgage insurance premium being p�id by Borrower when the insurance coveragc lapscd or ccascd ta .
<br /> be in effecG Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �
<br /> - i Form 3028 9i90 {
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