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<br /> ( ,5. Hazard or PropeKy Insurance. Borrowcr +hall keep th� Improvemeuts now existing ur lierratier erc�ted on d�e _:_
<br /> Property inxured �gainse loss by fire, hxzards inrludrd withiu the temi "�XtCit(ICd CcwC�Ngr," NI1tI Slily(�IIICi IlifZfiT(I�, including �.?'-_ __
<br /> floocls or floadtag,for whieh Lc;nder requires i��.tiumnce.This insur,u�ce shall he malntxinrd in the unu�unG,and ti�r it►e pericxls •
<br /> thxt L.ender requires. The lnsurance c:ucier provlding die lnsurance shall be chu,en by Be�rrowGr subject tn L.ender's approval '"-`
<br /> � which shell nat be unrestaonably withheld. If Borrower fuils to mtuntxin coverxge descrihed.ibove, I.ender may,at Lxndei s ,:�:�r�.��-
<br /> ' option,obtxin caverage to protect Lender's dghGti in the Properry in accorclurtce wlth parugraph 7. .�_,:r':-=�_
<br /> AU insurunce pnlicies xnd renewals shull be acceptuble to I.ender and shall include a sawdurd uiortgage clause. Lender ------
<br /> shall have the right to hold the policies and renewals. If Lender tequires,Bonower sh�ll promptly give to 1,ender all receipts of r._,�_ _
<br /> � paid premiums and u�newal nouces.In the event of loss,Bonower shall give prampt notice to the insurance cxrrier and l.ender. � • _____ _.
<br /> Lender may muke praof of loss if aot made prompdy by Banawer. ' ---
<br /> Unless I.ender and BorroK•er athenvise agree in writing, insurance praceeds sh�ll he applied to restaratian or repair af the
<br /> Property damaged,if the restoration or repair is ec;anamically feasible and Lxnder's security is not lessenrd. If the restordtion or � --
<br /> repxir is not economicully feasible or ixnder's security would be lessened, the insurance proceeds shall be applfed to the sums � _-
<br /> secured by tbis Securlry Instnunent, whether ot not then due, wlth any excess paid to Borrawer. If Barrower abandons the � '__
<br /> Prop�rty,or does not answer witl�in 30 days a natice from I.ender that the insurance carri�r has affemd ta sc:ttlr acl�tim, then � .,,�,�_-.
<br /> Lender may collect the insuraacr proceeda. Leader n�uy use the praceeds tc� repair or resrore the Propeny or to pay swus �
<br /> secured by this Security Instrument,whe�her or not then dne.The 30�clay period will begIn when the nodce is given.
<br /> Unless Lender and Bonower otherwisC agree in writing, xny applieaaon of proc:eecls to prineipal shall na�xtend or
<br /> � ; postpoae the due date of the montlily pxyments referred to in pivagraphs 1 and 2 or change the umount of the paymeas. If under '
<br /> ' ' paragrapb 21 the Propeny is acquired by I.ender, Borrower's right tn any insurauce policies and praceeds re��lting from '
<br /> claamage to the Property prior to the acquisiaon shull pass to Lender to die extent of the sums secured by d�is Security Instrument =
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<br /> '�; immediately prior to the acquisition. _
<br /> �•"• , 6.Oceupancy,Preservation,Malntenance and Protectton of the Property;Borrower's Loan Application; Leaseholds. --
<br /> � Borrawer shall occupy,estublish. and use tlie Praperry ua Bonower's principal residence within sixty days after the execution of
<br /> d�is Security Instnunent and shall contiuue to occupy the Propeny us Bonower's principal residence for at least one year after
<br /> = tbe c3ate af occup:suc„unles::l.�n�:r n�.her.tiise sgreea� in�urifing, �uhich consent sha!!not�unre�onably wiihhrld, or unle�s -
<br /> , extenuadpg circumstances exist which are beyond Bonower's control. Borrower shull not desuoy, datnage or i�npuir the
<br /> ^ Property,allow the Properry to deteriornte, or conunit waste on the Property. Borrow�r shall he in default if any forfeiture
<br /> �. acdon or proceeding, whether civil or cri�ninxl,is b�gun that in Lender's good faith judgraent wuld result itt farfeiture af the = -
<br /> � Property or otherwise materially impair the lien created by this Securiry In,trwnent or Lknder's security interest. Barower muy =—
<br /> ;.3. cure such a defi►ult und reinstate, as provided in paragraph 18,by cuusing the action or proceediag to be dismfssed with a ruling '=
<br /> • that, in I.ender's gaod faith determinaaon, precludes forfeiture of the Borrower's interest in the Property or otheer material ��;:��,�
<br /> ` impaianent of the lien creuted by this Security Instrumeat or Lender's securlty inierest. Borrower shall ulso be in default if — �=�•
<br /> Horrower,during the loan applIcadon process,gave n�aterially false or tnaccurdte inforniatiou or statements to I.ender(or failed ����..�
<br /> to provlde L.ender wiW any nixterial informadan) in connection widi tl►e!nan evidenced by the Note, includiug,but aot limired �� —�
<br /> to, representaaons conceming Bonuwer's c�ccupu�cy uf the Property xs a principal residence. If this Security Instrument is on a
<br /> leaseuold, Bonower shall comply wid�xll tbe provisions of tl�e lease. If Borrower acyuires fee tide to tlie Pmperty. the �-
<br /> leasehold and the fee tide shxll not merge unletis Lxnder agrees to d�e inerger 3n writing. � —
<br /> 7.ProtecNon of I.ender's Rights ln the property.If Bormwer fails to perform die cove��uiw and agreements coiitained in -
<br /> tlus Security Instntment, or diere is a legxl proceeding that may signiticxntly affect L,ender's right� in the Property(such as a _
<br /> proceediag in b:uikruptcy, probate,for condemnation or forfeiture or to euforce laws or regulxtions), then Lender may do und �;_
<br /> pay for whxtever is necessary to protect the value nf the Property and Ixnder's rights in the Properiy. Ixnder's acdaati may "'
<br /> include paying �uiy sum� secured by n lien which l��u prioriry over this Security Instrument, appexring in court, paying ,�_ -__
<br /> � reasonable attorneys' fees and entering on the Praperty to make repairs. Although I.ender may txke action under this paragraph _
<br /> ' :� 7,Lxnder does not liave ro do so. __ �
<br /> Any sunounts disbursed by Lender under this pxragrapli 7 sUall become additional debt of Bnnower se�ured hy this .�`"
<br /> Securiry Instrument. Unless Borrrnver and L�nder agree to other ternis of payment, these xnwunts shall bear interest from the ''.�'.r;, ��
<br /> � � '�.s:.�.��; �:�;:�',�:
<br /> � date of disbursement at d►e Note rate and sl�xll he payable, witl� interest, upon notice from LenQer to Borrower royuesting +��, fytiv a�k.}: _
<br /> pxyraent. `�ir�^�� :' - • .
<br /> 1 8. Moctgase insurnnce.lf Leixler required mortgage insur�nce xti x canditie�t�uf making the loxu�ecured by Qiis Security "��•a; �•
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<br /> I Instrument, Borrower shall pxy tbe premiums reyuired to maintain tlie mc�rtgage i».tiurance in effect. If, fvr any reasoti, tl�e � .
<br /> I mortgage in�urance coverxge required hy Lender Ixpses or ce�.�es to he in effect, Borrower shall pxy the premiums required to "
<br /> � ohtain cove�age substantially eyuivalent w die mongage iiuurxi�ce previuusly in effect,xt a cost substxntially equivale;nt to the
<br /> cost to Borruwer eif tl�e murtgagr ii�.tiurauce previously in effect, frirai an alternate mc�rtgage itttiurer xpproved by Lender. if ,
<br /> subsktntially eyuivxlent martgage ia+urance cuverage is uut available, Burrawer shail pay ro Lender each me�ntl�a suni eyual to �
<br /> e�ue-twelfdt c�f die yearly nic�rtgage iiLtiura�ice premium being paid by Be�nc�wer w8en the insurance coverage lapsecl ur ceased to �
<br /> be in effect. Lender will aecept, u,e aud retxin the,e pxymeuts as a loss reserve in lieu eif uwrtgage in.urxnce. i.osti reserve
<br /> Forrn30t28 9�I909
<br /> ��BRINE) �87t 21.ot �age 3 of 6 iry����,�� _
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