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<br /> 5. Har.ard or PropeMy In.�nce. Borrower shall kcep thc improvcmen�ow cxisting or hercafler crectcd on thc ',.�;�;f.
<br /> � Propeny insured uguinst loss by firc, h:vards inrludcd within thc tcrm "exicnded covernge" und nny ather huznrds, including �,_y,;��,
<br /> floods nr flocxiing, for which I.endcr rcquires imurunce. This insurance shall be maintained in the amaunts and f'or the periods '�;�?;
<br /> that l.ender requires. The insurance currier praviding thc insurnnce shall be chosen by Borre�wer subject to l,ender's upproval/�/� --_
<br /> �/ �:4ir�i:-'.'
<br /> � r� which shuU nut bc unrrusuuably wi�hlielJ. If I3c�rruwer fail�tu muintuin c:oecragc described abovc, Lcnder may. at l.ender'�� ��
<br /> Yy�r aption,obtuin cavcragc to protcct L.cnder's rights in thc Aroperty in accordancc with paragraph 7. �
<br /> All insurunce palicies und renewals shull be acceptable to I,ender and shall include u stundard mortguge clause. l.ender l
<br /> . �'�"��'�� shall huve thc ri ght to hold thc policics and renewals. If Lendcr requires,Barrower shall promptly give to I.ender all receipts of� =
<br /> paid premiums and renewul notices.In the event of loss, Borruwer shall give prompt notice to the insurance currier and L.ender.� ____
<br /> L.ender may make praof af loss if noi made pramptly by Barro�ver. � �
<br /> Unless Ixnder anJ Borruwer olharwise ugree in writing,insurance procecds shall be appliccl to restoration or repair of the� � —_
<br /> X Property dumaged,if the restoration or repair is economically feasible and L.ender's security is not lessened. If the restoration or� __
<br /> repair is nat economicaUy feasible or Lender's security would be Iesseneci. ihe insurance proceeds shall be applied to the sums
<br /> secured by this Security Instrument,whethcr or not thcn duc, with any exccss paid to Borrower. If Borrower ubundons the �
<br /> ' Property,or does not answer within 30 duys a notice from Lender that the insurance carrier has offered to settle a claicn, then P;•
<br /> , � Lender may colle.ct the insurance procceds. Lender may use the proceeds to repair or restore the Property or to pay sums F
<br /> E
<br /> 4{' secured hy this Securiry Instrument,whethcr or not then due.The 30-day penod will be�in when the notice is given. °
<br /> Unless I.ender and Borc�wer otherwise ugree in writing, any application of proceeds ta principal shall not extcnd or p. -
<br /> �, postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of thc payments. If = --
<br /> - �• un der paragrnp h 2 1 t he Property is acquire d hy L.en der, Borrower's rig h t to nny insura n c e p o l i c i c s a n d p ro c e c c i s r e s u l t i n g f r o m `-
<br /> � damage to the Property prior to the acquisition shall pass to L,ender to the extent of the sums secured by this Security Instrument r��-
<br /> �� immediately prior to the ucquisition. _
<br /> 6.Occupancy,Preservation, Maintenance and Protection of the Property;Borro�ver's Loan Applicatton;Leaseholds.
<br /> Borrower shall occupy, estnblish, and use thc Property as Borrower's principal residence within sixty days after the exccution of
<br /> ' t this Security Instrument and shall continue to occupy the Property as Borro�ver's principal residence for at least one year after
<br /> ° tbe date of occupunry, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control. Burrower shall not destray, damage or impair the
<br /> ' � __ �_' Property, ullow the Propeny to deteriorate. ar wmmit waste on the Property. Borrower shaU bc in defuult if uny forfciture
<br /> action or proceeding, whether civil or criminal, �s begun that�n Lender`s gooci taitii judgment couid resuit in iarieiturc ut'tlic
<br /> �� Property or otherwise materially impair the lien crcatcd by this Security Instrument or Lender's security interest. Borrowet may
<br />� cure such n default and reinstace,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br /> that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other muterial
<br /> impairtnent of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> „ . Borrower,during the loAn application process,guve materially false or inaccurate inforn�ation or statements to Lender(or failed
<br /> . � to providc l.ender with any material informution)in connection with the loan cvidencecl by the Nate, including. but not limited ,
<br /> � to, representations concerning Borroaer's occupancy af the Property as a principal residence. If this Security Instrument is on a
<br />•• Ieasehold, Borcow�r shall comply �vith all the provisions of the Icase, I(Borrowcr acquires fee title to the Property, the
<br /> , leasehold and the fee tide shalt not mcr�e unless Lendcr agrees to the merger in writing.
<br /> . . 7. ProteMion of Lender's Rights in the Property. If 8onower fails to perform the covenants and agrecments contained in
<br />-. . '" this Security instrument, or thcre is a Icgal proceeding that may significuntly affect Lender's rights in the Propeny (such as u
<br /> . � proceeding in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Pruperty. L.ender's uctions nwy
<br /> � include puying any sums sccurcd by u licn which has priority ovcr this Sccurity instrumcnt, appeuring in court, paying ----
<br />_ reasonable attorneys' fecs and entering on thc Property to makc rcpairs.Although Lender may tukc action under this par�graph
<br /> 7, Lender does not hAVC to do so. --
<br /> � Any amounts disbursed by I.cndcr undcr this paragruph 7 shull become additional dcbt of Borcowcr suureJ by this - -
<br />- "� Security Instrument. Unless Borro�vcr and L.cndcr ngrce to other terms of payment, these amounts shall bear interest from the _
<br />_ ' date of disbursemcnt at the Notc rate anJ shall bc payablc, with interest,upon notirc frotn L.ender to Borrower requesting ---
<br />� payment. �'
<br /> ° S. Mort�n�e Insurance. If Lemler reyuired mortgage insurunce as a canditian of making the loan secured by this Security
<br /> Instrument, Borrower shall pay the premiums rcyuired to maintain the mortguge insurance in effect. [f, for any reason, the ��,-
<br />" mongagc insurancc covcragc requircd by i.cnder lapses or ceaise�to bc in cffcct,Borrower shall pay thc premiums requirul to `��_`=
<br /> obtain�overuge substantially equivalent to the mort�:sge insurance previously in eff'ect, at a co�t suUstantiully eyuivulent ro the �
<br /> cust to Borrowcr of thc mortgnge intiuranee previously in effect, frc�m an alternatc moitguge insurcr approved by Lender. If �--
<br /> +ubstantiully equivulent mortFage in�urancc covcragc is not availablc. Borrowcr shall pay to IAnder euch month a sum equal to ' -
<br />�i onc-twclfth of thc ycarly mortgag�insuruncc prcmiwn bcing paid by Borrc�wcr whcn thc insurancc covcragr lapscd or cc:ised to � '
<br /> bc in cffect. Lcndcr will acccpt, usc and retuin thesc pxyments as a los, rescrvc in lieu i�f mimgagc insurancc. L.oss rescrve
<br /> - Form 3028 919U
<br /> a Pagu 3 ul 6
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