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<br /> , � 5.H�rd or Property Insurance. Borrawcr shall kecp ihc improvcments now cxisting on c�rcafter crccted on thc Property °
<br /> insured agalnst loss by Cue, hezatds included wlthln the tetm "extended coverage" and any other he•r.ards,including floods or � .. �.
<br /> � flooding,for which Lender rcqu'aes insurancc.This insurana:shaU be maintained in thc sur►ounts and for ihe petiods that Lender� „ .. :
<br /> requires.Tho insutanca carrier providing the insurance shaU be chosen by Borrower subject to Lender's approval which shall not� . , ,
<br /> " ,i bc unret�sonably withheld. If Borrower fails to mafnta�n covecagc describcd above, Lender may,ai Lendcr's option, obtein � ' �,
<br /> coverage to prouxt L.ender's rights in the Property in accordance with ptuagraph 7. ' - �° •
<br /> ' All Insurence poUcles and renewals shall he acceptubla to L,ender and shall�nclude a standard mortgage clause.L.ender shall Q � ���`��._:.
<br /> � havc thc right to hold the poUcics and renewals.If Lendcr rcquires,Soaowcr shail promptly give ta I.ender all rtxcipts of paid•�,� . �_'°���`"��
<br /> premi�uns and renewal notices.In the cvent of bss,Burrowcr shall giv�prompt noticc to the insurance carrier and Lender.L.ender(� ' M��_'�---
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<br /> may makc proof of loss if not madc promptly by Borrowcr. W --��-•=�
<br /> Unless Lendcr and Bomnwer otherwlse agree in writing,insu�rance procee,ds shall be applied to restoration or rcpaIr of the .
<br /> Property damaRed,if the restomtion or repair is economically feasible and Lender's security is not Iessened.If the restoration ar �•_
<br /> repair�S not economlcally feasible or Lender's sesurlry would be lessened.ihe insurance proceeds shall be applied to the sums .�t '""' -
<br /> secnred by this SecurIty Instrument, whethcr or not then duc, with any excess paid to Borrower.If Bonower abandons the �• ��'�
<br /> Property,or does not answer within 30 days a nodce from Lender that the insurance catrier has offereci to settle a claim,then �����ir�
<br /> L.ender mey coUe�t the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured �,.;,
<br /> by tltjs Sccurity Inswment,wheiher or not then due.The 30-day perIod will bcgin when thc nodce is given. •..:�;,i:
<br /> Unless Lender and Borrower otherwise agree in writing,any appGca6on of proceeds to principal shaU not extend or postpone � • '
<br /> the due date of the monthly payments referrecl to in paragra�ths 1 and 2 or chsnge the amount of the payments.If nnder paragraph •
<br /> 21 the Property is acquired by Lender,Borrower's rlght to any insurance policies and proceeds resulting from damage to the R��
<br /> ' Property prior eo the acquiaidon shall pass to Lender to the extent of the sums secured by this Security Instrument immediately .;,�. �
<br /> prior W the aequisldon. ' • �
<br /> 6.Occupancy,Preservat[on�Mainteaance And Protection of the Property; Borrawer's Loan Appticatlon;Leaseholds. ���«��• �4� _
<br /> Boaower shall occupy,establish,and use the Property as Borrower's principal residence within sixry days after the execudon of '��" ; ���
<br /> � this Security Ins�ument and shell continue to occupy the Property as Borrower's principal residence for at least one year after the K �:�
<br /> date of occupancy. unless L.ender othenvtse agrees in wrlting, which consenY shall not be unreasonably withheld, or unless `• ,�'�
<br /> ` extCnuatlng cirewnstances ex�st wtuct�are beyond�torrower's control. �torrower shell not destroy.ciamage or impair the Fropeny, — � �
<br /> allow the Properry to detcrlorate,or wmmit waste on the Property. Borrowcr shall be in default if any forfeiwre actton or � _ �
<br /> � proceeding.whether civU or crlminal,is begun that in Lender's good faith judgment could result in forfeiture of the F'roperty or � ���
<br /> othetwise materSally impair the lien created by this Security Instrument or Lender's security interest Borrower may cura such a , ������'
<br /> " dcfault and rolnstate,as provlded in paragraph 18, by causing thc acdon or procecding to be dismissed with a ruling that, in '�"�
<br /> Lendes's good faith determination,precludes forfeiwre of the Borrower's interest in the Property or other materlal lmpairment of '• rYY�'�
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<br /> the llen created by this Security Instrument or Lender's securiry interesG Borrower shtill alsa be in default if Borrower.during the
<br /> loan appUcadon process,gave materially false or inacenrate informauon or statements to Lender(or feiled to provide Lender with
<br /> � any materfal u►formadon) in connection with the loa�i evidenced by the Note, including, but not limited to, representxx�ons .' _
<br /> concerning Borrower's occupancy of the Property as a principal residence. If this Securlty Instrument is on a leasehold,Borrower
<br /> shell comply with sU the provisions of the lease.If Bonower acquires fce tide to the Property,the leasehold and the fee dde shall -- --
<br /> not merge unless Lender agrees to the mcrger in writing. °
<br /> 7.Protection of Lender's Rigdts[n tbe Property. If Borrowcr fails to perform the covenants end agreements wntained in '
<br /> this Securlty Inswment, or there is a legnl proceetiing that may sigaificantly affext Lender's rlghts in the Property (such as a '°—
<br /> pracceding in bankruptcy,probate,for wndemnation or forfeiuue or to enforce laws or regulations),then I.ender may do and pay -_—
<br />_ for whatever�S necessary w protect the value of the Property and Lender's rights in the Property.Lender's acdons may include - -_
<br /> . paying any sums secureti hy $ llen which has priority over this Security Instrument, appearing in court, paying rcasonablc .���=-- --
<br /> atwmeys' fees and cntering on the Propeny to make repairs.Although Lender may take action under this paragraph 7,L.ender -. -
<br /> a docs not have to do so. - --
<br />� � My amounts disb�used by Lender under this paragraph 7 shall become additional debt of Borrower socured by this Socurity ��.-" ' '%.:
<br />_ Instn�men� IInless Borrower end Lendcr agrec w other tcrms of paymcnt,ihesc amounts shall b�ar interest from the date of "" �'��
<br /> disbursement at the Note rate and sha(I be payable,with int�rest,upon notice from Lender to Bonowcr requesting paymenG : � 4 ��i;;� :�
<br /> S.Mortga�eInsurance. If Lender required mortgage insurance as a condition of making the loan secumd by this Security `'��'�"��'�•„�°.�
<br /> � Instrument, Borrower shall pay the premiums rcquired to maintain the mortgage insurance in effcct� If. for any reason,the `�±:��; �
<br /> I mortgage u�surancc wvcragc:n;quire,�! by Lcnder lapscs or ceases to bc in effect,Borrowcr shall pay the premiums rcquircd to .. '=':r:
<br /> { obtain coverage substantially cquivalent to the mongage insurance previously in effect,at a cost substandally equivalent to the
<br />' � cost to Borrower of the mortgage insurance previously in effect,from an altemate mortgage insnrer approveci by Lender. If
<br /> : � substantislly equivalent mortgage insurance coverage is not available, Bormwer shall pay w Lender cach month a sum equal to . �
<br /> - 1 one-twelfth of tlie yearly mortgage insurance premium being puid by Borrower when the insurance coverage Iapsed or cea.ced to i �
<br /> - � be in effcct Lendcr will acccp� use and retain these paymenLs as a loss reservc in lieu of mortgage insurance. Loss reserve
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<br />" � Form 3028 �i80 I
<br />� ; �•8R(NE)1o2��l.ot Paya3o18 i�iu��s: �
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