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<br /> • 5. Hazard or Property Insurance. Bunower shall keep tl�� imprcrvrments uow extsting or here:after erected on the
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<br /> Property insured ag�inse loss by fire, h�3rcls Ii�cluded within die tern� "extended covernge" and any udier h�tznrd+, incluJing .
<br /> flnnds nr flooding, for which Ixnd�r requires in.,urance.Tbi,insurance shall be maintxined in tlie:unaun�ti s�id fiir the periodti i �'�
<br /> that Lender requires.Tlie insuranc�carrier providing the i».+urance sh�ll be cho�e» hy Burruwrr sub,ject tu Lendec's approval � .-
<br /> Lxnder rnay I
<br /> wbich shall not be unrexsonably withheld. If Bonawer falls to mainuun caverage described ahove, , at L..ender's 00 I —
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<br /> option,obtain coverage to protect Lender's dghts in the Prapeny in accordance with puragraph 7. —
<br /> All insurance policies and renewals shall be aceeptuble to I.xnder xnd shull includ�a su+nckud mortgabe clause. I.ender � � _
<br /> shull have the right to hold the pollcies and renewuls. If Lender requires, Bonower shull promptly givc ta I.ender xll receip�ti of �• „ '�
<br /> paid premiums und renewal natices. In the event of lass,Borrower shall give prompt notice ta thr insurance carrier uud i.ender. �i ,.,4� ,� w,
<br /> I.ender may msske proof of loss if not made ptomptly by Banower. . '' 'l� ;r=_-
<br /> Unless Lender und Banawer otherwise agree in wridng,insurance proc:eecls shall be applied to restorauon or repair of the •;��,..;-�—
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<br /> Property damaged, if the re.stomdon or repair is ec:ononucally feusible and Lender's security is not lessened.If the resroradan ar CC , �
<br /> repair is not economically feasible or Lenc�er's security wauld l�e lessened,di�insurunce proceeds shall be applied to the sun�s _
<br /> secured by this Security Instrument, wl�ether or nat then due, with any excess paid to Harrower. If Banawer abaadans the ��.
<br /> Property, or does not answer within 30 cluys a natice froni l.end�r that die insurance currier has offered ta setde a cluim,then ,__
<br /> I.cuder n�ay collect the insurance praceeds. Lender may use die proceecls to repair or restore the Property or to pay sums
<br /> secured by this Security Iiutrumenc.whether or not then due. The 30-ctdy period will hegin when the notice is�iven.
<br /> Utiless L.ender and Borcower otherwise agree in wridng, xny application of prcx:eeds to principal sh:.tll not extend or
<br /> postpone the due date af tbe monthly paymenGti referred w in parubraphs 1 and 2 or change the amount af tl�e payments. If under
<br /> paragraph 21 the Property is aeyuired by Lender, Borrower's right to any in�urauce polieies und prcxeeels resulang fram . ._,�,� ,
<br /> daraage ro the Praperty prior ta the acquisition sh�ll pass to I.ender to the extent of the sums secured by this Securiry Insttument '
<br /> � immediately prior ta the acquisition. I,easeholds. � _
<br /> 6. Occupancy,PreservatIon� Maintenence and Prot�xt[on of the Property; Borrower's Loan Appllcation;
<br /> Borrower shall acupy, esu►blish,and we the Propeny as Borrawer's principal residence within sixty days after the execudon of • �
<br /> ; this Security Insaument and shall continue to�ccupy the Property as Banower's principal residence for at least one year after ,��s,:: 5�
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<br /> the date of occupancy,unless Lender otherwise agrees in wridng,which consent sliall nat be unreasonably wit6held,ar unless ` ;;: ,T�_
<br /> cxtcnuaiing circumstances Pxict which are heyond Bonower's canuol. Bonower shall not desuoy, dumage ar tmpsur the ��>� „__
<br /> Property, allow the Properry to deteriorate, or commit waste on the Property, Borrower shall be in defauit ii any forfciiu�c � .,
<br /> acdon or proc:eeding,whether civil or crin�inal,is begun chat ia lxnder's good faith judsment could result in forfeiture of the � ^����tt�.
<br /> Property or otherwise materially impair ehe lien created by this Securiry Instrumeat or Lender's security interest.Borrawer may ',: F;�.-
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<br /> cure svch a default and reiastate,as provided in puragraph 18,by causing the acaon or proceeding to be dismissed with a ruling ;� .�.
<br /> that, in Lender's good faith determinadon, precludes forfeiture of the Bonower's interest ia the Praperty or other matedal �, t; `
<br /> impairment of the lien created by this Security lnstrument or Lxnder's securiry inrerest. Bonower shall alsa be in default if r 'y ���_
<br /> - Bonower,duriag the loan application process,gave materially false or inaccurate inforu�ution or statements to Lender(or failed •-ti.
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<br /> . to provide Ixnder with xny material informatian)in connection widi the loun evidenced by the Note, including,but ttot limited
<br /> to,representadoas concemiug Borrower's occup:u�cy of the Properry as a principal residence. If this Securiry Iwtnument is ou a ��,�—
<br /> � leasehold, Borrower shall comply with all d�e provisions of the 1e:4,e. lf Barrower acquires fee utle to the Property, the -- � _
<br /> � leasehold and the fee tstle sliall not merge unless Lender agrees to the merger in writing. � __�
<br /> 7.Protectton of L.ender's Rights in the Froperty.If Bonower fails to perform the covenants and agreernents contained in __-
<br /> this Security I�utnunent,or there is a legal proceeding diat may xignificandy xffect I...ender's rights in the Property(such as a _—__
<br /> . proceedin� in bankruptcy, probate, for condemnadan ar forfeiture or to enforce laws or reguladons),tliea Lender may do aud
<br /> ; , pay for whatever is necessary to protect die v�lue of the Propeny and Lender's riglits in the Property. Lender's acdons may - _
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<br /> ' include paying any sums secured by a lien wliich ha:: priority over this Security Instrument, appeauinb' in court. paying
<br /> � reasonxble attomeys'fees and enterin�;on the Propeny to make repain. Aldiough Ixnder may take acdon unckr this paragraph _ -
<br /> 7.Lxnder does not have to do so. '�'_
<br /> Any amnunts disbursed by I.ender under diis parugraph 7 sl�all became additional debt of Bonower secured by this _ _ —
<br /> Security Instrument. Uniess Horrower and L.ender agree to otUer ternis of payment, these<unounts shall bear interest from We �-�-•-��,�:;
<br /> date of disbursement at the Note rate and shall be payahle, with interest, upon notice from Lender to Borre�wer requesting •r,.T•,'�`
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<br /> payment. � �
<br /> 8.Mortgage Insurance.If Ixnder reyuired mongage iatiurance as a conditian of making tlie loxn secured by this Security ,f ��•,.r s�':�'
<br /> Instrument, Borrower shull pay the premiums required to mainuin the mortgage insurance in effecc. If, tor any reason. the
<br /> • mortgage insunuue coverage reyuired by Lender lapses ur ceases to be in effect, Bonower shxll pay the premiums required to ' �:
<br /> obtain coverage substantixlly equiv�lent to die mongage iiuurance previnusly in effect,at a wst�ubstantially equivalent to the - 'Y�' '
<br /> cost to Borrower of the mongabe insurance previously in effect, from an altemate mortgage insurer approved by Lender. If ,
<br />- substantially equivalent mortgage intiurance ce�verage is not xvailable,Bonower shall pay to Lxnder each month a sum equal to
<br /> one-twelfth of the yexrly murtgage insurance pretnium being paid by Burrc�wer when the icuurance coverage lapsed or ceased ro �
<br /> , be in effect. Ixnder will accept,use and retain these payment.r•xs a toss reserve in lieu of mortgage iiuurance. Loss reserve
<br /> I Form 3026 9 0
<br /> i ��BRINE) rez�a�.o� Pye 3 0l 8 ����+�•:
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