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<br /> g. H�zard or property It�surance, Borrowcr shall ke�p [he ;m�ro�ements now existing or here:,fter emcted on che < <f �_�
<br /> Propeny insured against loss by fire,hazards included w�ithin the cerm "extende�i cu�erage" and :uiy uther h:uards, including _
<br /> floods or flooding, for which I.ender requires in�urance. Thi.insuranre shall be mas�[ained in the amaunts;u�d fnr the periods ,.
<br /> �` �i'-
<br /> that Lender requires. The inwrance carrier�roviding Ihe ia+urance shall be cho,en by B��rro�cer�ubjert to i.ender's approval .
<br /> which shall not be unre:�sonably withheld. if BorroW�er fails to m�intain rovec�e de�cribed above, Lender may.:�t Lender's '
<br /> ,� optian.abtain coverage to pmtect l.,ender'ti rights in the Property in acroniance with paragraph 7. -- --=r- --_-' `-' _ ..
<br /> J' All insurance policies and renewals shall be acceptabie to Lender and shall include a �tandard mortgage clause• I.ender , -
<br /> shall have the right to hold the policies and renew�ais.lf Lender requires.Burrower shall promptly give to Lender all receipts of `�`_ ',` , :' ,', .4j
<br /> paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice t�the insurance carrier and L.ender. , �;=���,�,`.� �
<br /> Lender may make proof of tuss if not made promptly by Bvrrower. � :�-',Y•,,--;.�
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shail he applied to restoration or repair of the ••_�, �f": 1•r,-`
<br /> �„a ��.l�',-�`:...,.r�,r
<br /> prnpeny damaged,if the restoration or repair is economically feasible and Lender's security is not lesseneci.If the restorauon or .:� ,.'�f--.•.;.; .;:::�.:
<br /> � r.�.,,(,�:',. .
<br /> _ repair is r.ot economically feasible or L,�nder's securi[y would 6e lessened,the iruurance proceeds shall be applied to the suros '-;�,,^,;,<,' �`���_^—•+-_
<br /> secured b�� this Security InSuurt�e�st ::hether or not then due, with any excess paid to �aerower. If Borrower abandons dle -�;;,�• ,r... ,.���ix::::-_;.,__.
<br /> Property, or does not��w:er within 30 days a notice from Lender that the insurance casn:.r has offered to settle a claim, then -`Q�:���r�_-_
<br /> Lender may collec[ c����rts;�rance proceeds. Lender may use the proceeds to repair or restore the Propeny or to pay sums , -`�,,, ..�_�
<br /> :.��.� .
<br /> u ' secured by this Secur�,i��ument,�vhether or not then due.The 30-day period will begin u•hen the notice is given. ,. ��_�_�.
<br /> Unless Lender a:.� �arrower otherwise agree in writing, any application of proceeds to principal shall noc extend or �. ;:�.�: � ,.� .:
<br /> '...f �•�
<br /> postpone the due date of the monttily paymenu referred to in paragraphs 1 and 2 or change the amount of tiie payments. If tr� �,� �, ,'�-•� --�-�
<br /> uttder paragraph 21 che Property is acquired by Lender, Borrower's right to any insurance palicies and proceeds resulting from ;* �* ��� ;.��,
<br /> damage to the Propem prior to the acquisition shali aass to Lender to[he extent of the sums secured by this Security Instnim�nt .��'=�;=�,•}�A,�;`_
<br /> ��`�;,,..'.="J:y�..,___
<br /> immediately prior to the acquisition. ,;..,.;,,, ,,, �
<br /> �:�� 6.(D�c�ipancy,preservation, Maintensnce and Protection of the Propeiiy;Borrower's Loan App1[cation:�oltDs. ., ,.w,,,,� , . - -
<br /> .[ '-'• ,'.
<br /> Borro.��r s�all occu p y,establish,and use the Property as Borrower s principal residence within sixty days after thie execution of .;��,� ;.
<br /> -,-..
<br /> ; ;� this Sea.r_ty Insuumen t an d s h a l! continue ta occu p y the Property as Borrower's prin c ip a l r e s i d e n c e f o r a t l e a s t o n e y e a r a f t e r _°•.��.�,-: .,a•.�,`�
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<br /> the date uf occupancy.unless Lender othenvise agrees in writing,which conuent shall not be unreasonably withheld, or unless :��.( •.'�.:
<br /> extenuating circumstances exist which are beyond Borrowe�'s contro l. Borrower s h a l l no t d e s t r o y, d a m a g e o r i m p a i r t h e • �. r ... _� . Y
<br /> p Borco�.€s shall be in default if any forfeiture •� - � '�'`.�` ,
<br /> Properry, allow the Property to deteriorate, or commit �vaste an the Pro ercy. '�;��:;,�: •� :.
<br /> �.�
<br /> action or proceeding, �v he t her civi l or crimi n a l.is be gun that in Lender's good faith jud�ent coatd resuit in fodeiusre of the -:1,� t r , � �",?�'���:.`;���
<br /> Property or otherwise materially impair the lien created by this Security Tnstrument or l.enc�e�r's security interest. Borrower may :.� '�,�; .-:��-� ;'� �
<br /> cure such a default and reinstate,as provided in pan�graph 18. by causing the action or proceeding to be dismissed with a ruling � � �r', �.�„�.�&,,,;;:f.;_�•
<br /> t h a� i n I.e n d e r's gemu;:faith determination, precludes farfeiture of the Borrower's interest in the Propecty or other material �r K;,�'%'�';i`���r` ' �
<br /> �'�r��;�le�. ;--:
<br /> impairment of the lier created by tbis Security instrument or Lender's security interest. Borrower s h a l l a lso b e in de fau l t i f ::,�{.: . .;.�,:��,�}� _
<br /> - Bomaw�r,during the loan application process,gave materially false or inaccurate information or statemenu to Lender(or failed •.�.,,,��,r,�, 10; � �.,..
<br /> to provide Lender wit9i any material inforniation)in connection uith the toan evidenced by the Note, including, but not limited �ta}i:..• ;;'•�:... ;._;_
<br /> �.. �, .�;.
<br /> � to,representations co=�rning Borrower's or.copancy of the PE'operty as a principal residence. If this Securiry Instrument is on a '°'�'��•;l;-,:^,;;,o,
<br /> ; �.�-._.__-
<br /> leasehold, Borrower s.'�all wmply with all the provisions of the lease. If Borrower acquires fee title to the Property. the �y ��`�-•
<br />� leasehold and the fee ritle shall not merge unless I.ender agrees to the merger in writing. �� �•=id°'::i"�''�-__`
<br /> 5. - f'�- �
<br /> • 7.Proted[on of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreemenu contained in � �,�_:�
<br /> � ' this Security Instrument, or there is a legal proceeding that may significantly affece L.end�r's rights in the Property (such as a =��
<br /> � proceeding in bankruptcy,probate.for condemnation or forfeiture or[o enforce laws or regulations),then Lender may do and
<br /> �''
<br /> pay for whatever is n:cessary to protect the value of the Property and 1.endeT's righu in the Property. Lender's actions may � � .�—'-`°'��
<br /> • x,,_.-
<br /> :• .�. include �aying a%.; �-.:"� secured by a lien ��sich ha5 prioriry over this Security Instrument, app�sang in court, paying � '�_.;�.;.;,;:�':.':..,;y
<br /> � reasarnilsl�e�ttomeys' fees and ent�±�:g on the Properry to make repairs.Although I.ender may take action nnder this paragraph �^��—�,�,:__.. ..___�
<br /> ' �ti 7,Le�4:�r,".oes not have to do so. --- �
<br /> ��' Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower securcd by this — . �,t;z:.�:�
<br /> Security Instrumer.t. L'nless Bonower and Lender agree to other terms of pa�ument, these amounts shall bear enterest from the �..�;,'a,.`..._-_..
<br /> date of disbunesr�� ;u the Note rate and shall be payable. with interesc. ripon notice from Lender to Borrower reques4ing ; . .._., ,. :
<br /> • � payment. • .;:�,.:..,.. -
<br /> S.Mortgage Insw�nce•If P��:der required mortgage insurance as a condirion of making the loan secured by this Security '�.;".�"..���^'�`�'''• �
<br /> Instrument. Borrower shall pay tI:premiums required to maintain the mortgage insurance in effeci. If, for any reason. the ���,�._
<br /> �� �. mortgage insurance az�erage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to �- ,.. . _ .,
<br /> ' obtain coverage sui��r.��ially equivalent to�'��.��?�rtgage insurence previously in effect,at a cost substantially equivalent to the ,.;..,y,,;;��,;�.�y,-:
<br /> �. .� cast r•ry f3��rrower of the mortgage insurance previausly in effect. from an altemate mortgage insurer approved by Lender. If ,�;
<br /> subsrai�E��lly equivalent mortgzz�:^surance coverage is not aoai la b le.Borrower s h a l l p a y t o L e n d e r e a c h m o n t h a s u m e q u a l t o ___ � ��%'"
<br /> . � one-t�.�lfth of the yearly mortgabe insurance premium being�aid by Bonower when the insurance coverage lapsod as ceased to z.� .��.,�.'
<br /> . be in effect.Lertder•.��ll accept,use and retain tt�ese payments as a loss reserve in lieu of mortgage insurance. Lwrss reserve •�_ •;-:�•.-r���._.
<br /> --wr+�.-�-""^"'tid i• .
<br />� � � Form 3028 9t�3 ''�'•���5'd`•'
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