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<br /> 5. Haaard or Property Insurance. Borrower shall keep the improvements naw exisdng ar hereafter erecred on the ;-'--_
<br /> Property ins�ured agaiaxt loss by fire,hazurcls included withia the ter[u "extended cavemge" und any nther hswuati, inciuding • ;�'`"-`
<br /> ticxxls ar tloocling, for whlch Lender requires insurance. 77iis tnsurunce shall�e muiauuned In the amounts und fur the perials ��'�:�a:____
<br /> thut Lender requlres.The Insuraace cartier providing the insw�unce shull be clx�seu Uy Burruwer subject tu I.endcr's approval� � ,___ "
<br /> � . which shall nat he unreasonably wlthheld. If Borrower fails to maintuin covernge descdbed above, Leader awy. at Lender's � =
<br /> „ opdon,obtaia coverage to protect Lender's dghts in the Properry ln accordance with pun+�raph 7. �.i�
<br /> All ias�uraace policies and renewals sball be acccptable to Lender and shall include a standard mortgage clause. Lender�j _
<br /> shall have tha r�ght ta hold the poltcies and renewals.If l,ender requires, Bonower shall prorapdy give to Lxttder all rec:eipta ofQ
<br /> paid premiums aad cenewal notices. In the event of lasa, Borrower sl�all give prompt natice ro the iasurance carrier and Lender.�
<br /> I.ender may make proof of loss If not made prompdy by Barrower. _
<br /> UWess l,ender and Bonower othervvise agree in wrldng, lnsurance proceeds shall be applied to restoradon ar repait of the�
<br /> Property daznaged, if the restorarion or repair is economically feasible and Lender's�ecurity is not lessened. If the restocad�n or
<br /> repalr is not econatnically feasible ar I.ender's securiry would be lessened,the insurance proceeds sha11 be applied to the sums
<br /> secured by thiis Security Instrument, whether or nat then due, wi[h any excess paid to Borrower. If Borrawer abandons the -
<br /> Property, or does not answer wlthin 30 days a nodce ftom Lender that the ituurance carrier has offered ro setde a claim, then
<br /> L.ender may collect the ins�unwce proceeds. Lender may use the procecds to repair or restore tlie Property or to pay sums ��'
<br /> secuc�d by this Securlry lnstrurnent. whether or not then due.The 30-day periad vv�ll begia whea the nodce Is given.
<br /> Unless Lxnder and Horrower otherwlse agree in writing, auy applicaqon of proceeds to principal shall not extend or
<br /> postpoue the duc date of the monthly payments referred to in paragraphs 1 aad 2 or change the amount of the payments. If under
<br /> ; paragraph 21 the Ptoperty is acquired by I.ender, Bonower's right to any insurance policies and proceeds resultittg from
<br /> damage to the Property pdor to the acquisidon sttall pass to Lender ta the exteM of the suins secured by this Securtry Iasuumept E;::
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<br /> � immedlately prlor to the acquisldon.
<br /> . 6. Occupancy,PreservaUon,1�Islntenance and Protectton of the Property;Borrower's Loan ApplQcatton�I.easeholds.
<br /> Boaower shall occupy, establisd,and use the Property as Borrower's pdncipal residence wltt►in sixty days after the execudon of __
<br /> � this Security Instruraent and shaU condnue to occupy the Property as Borrower's princlpal residence for at least one year after
<br /> the date of occupancy, ualess Leuder otherwise agrees in wrldng. whicb concent sl�aall not be unreasouably wltLheld, or unless
<br /> extenuadn� clrcwnsta�tces exist which are beyond Bonower's conuol. Borrower shaU not desuoy, damage or impair the _
<br /> Property, allow the Properry to detedarate, or commit waste on the Property. Borrower shalt be in deiauit ii any forfeicure -
<br /> � acdon or proceeding, wheWer civil or critt�inal, Is beguu that ia l.ender's good faith judgment could result ia forfeiture of the .._
<br /> Property or otherwise materially impair the lien created by this Security Instrwnent or Lender's security interest. Borrower uu�y .,-
<br /> cure such x default aad relnstate,as provided in paragraph 18,by causing the action or proceeding to be dlsmissed with a tuling ,�
<br /> � that, in Lender's good faith determinadoa, precludes forfeitiue of the Borrower's interest in the Property or other material ��;�E:.
<br /> impuirwent of the lien created by this Security Instnunent or Lender's securiry interest. Bonower shall also be ln default If t= _�
<br /> „ Bonower,during the loan applicadon process,gave materi�lly false or inaccurate info:madon or stutements ro Lender(or failed e�n
<br /> to provide Lender with any matedal iafomiation)in wnnection with the loan evidenced by the Note,includlag.but not limited �_
<br /> z to,representadons concerning Borrower's occupancy of the Properry as a principal residence. if this Securiry Insmimeat is on a _-_ _
<br /> • leasehold, Bonower shall comply with all the provisions of the lease. If Horrower acquires fee dtle to the Propecry, the --•----.
<br /> , leasehold and the fee dtle shall not n�erge unless Lender agrees ro the merger in wridng. �
<br /> 7.Protedion of Lendee's Rights ln the Property.If Bonower falls to perfoim the covenants and agreements contaiaed ia
<br /> - this Secwity Instrument, oc there is a legal praceeding that may siguificaudy affect Lender's rights in the Pcoperty(s�uch su a �-
<br /> proceedtns in baukruptcy, probate. for condemnatiaa or forfeiture or to enforse laws or reguladons). thea Leader may do and �
<br /> 4 pay for whatever is necessary to protect the value of the Property and Lender's dghts in the Property. Lepder's acdnns may �- �
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