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<br /> � 5. Hezurd ar Pro�terty Insurunce. Bonower shall keep the improvements now existing or hereufter erected on the
<br /> Property insurecl against loss by fire, ha�.urds includcd within the term "extended coveruge" and any other h�ards, including
<br /> ' � flaods or flo�xiing, for which I.cnder requires insurnnce. This insurance shall be maintained in the amnunts und for the periods
<br /> � � thut I.ender requires. The in�urance carrier providinF the insurunce shull be chosen by Borrower subject to Lender's approval � �
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<br /> j which shall not be unreasonably withheld. If Borrawer fails to maimain coverage described ubove, I.ender muy, ut l.ender's
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<br /> ••�• option,obtain coverage to protect I.�nder's rights in the Property in aaordance with purugraph 7.
<br /> � All insurance policies and renewals shnll be acceptable to Lc��der and shall include a stundard mortgage clause. Lender
<br /> � shall have the right to hold the policies und renewals.If Lender requires, Borrower shall promptly give to Lender all receipts af�
<br /> 't .�. paid premiums and renewal notices. In the event of loss, Borrower sh�ll give prompt notice to tlie insurance carrier and I.ender.v
<br /> : Lender may make proaf af loss if not made promptly by Borrower. _
<br /> , r: Unless L.ender and Borro�ver otherwise ugree in writing, insurance proceeds shall be applied to restoration or repair of the�
<br /> • r Property damaged,if the restoration or repair is economically feasiblcand Lender's security is not lessened. If the restorntion or
<br />_ ) repair is not economically feasible or Lcnder's security wauld be lessened,the insurAnce proceeds shull be applied to the sums
<br /> �� secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. [f Borrower ubnndons thc
<br />` ,�' Property,or does not answer within 3U days a notice fram Lender that the insumnce csirricr has offered to setde a claim, then
<br /> �``� � l.ender muy callect the insurs�nce pracecds. I.ender muy use the proceeds to repair or restore the Propeny or to pny sums
<br /> . secw•ed Uy this Security instrumcnt,whcthcr or not thcn duc.The 30-dsy period wiU brgin whcn the noticc i�given. �
<br /> � Unless l.ender and Borrower otherwise agree in writin�, uny upplicatton of proceed, to princlpul shull not extend ar
<br /> � „ pustpunc tlu duc dutc nf thc monthly paynunt� rcfcrrcd tu in par:�grophs I ut�l 2 or chunbc thc unu�unt of thc puyments. (f
<br /> undcr parugruph 21 thc Pruperty i.ucyuircd hy lAndcr, B��rruwcr'ti right to uny insurunc�pnlicics und prucecds rcaulting frum
<br /> y dunuigc tu thc Pruperty prinr to the ucquisition+hull putis t��I.�nder to ihe ex�ent of the�ums+ecurcd by thiti Security Instrument
<br /> " immcdi,itcly priur tc�thc ticyui+itiun.
<br /> • ' 6.(kcupuncy. Prescrvutl�m,hfututensmce s►nd Protcctlnn of the Nro�x�Ky; H��rrower'z I�►un Appllcutton;Lcasehulds.
<br /> , • Burruwer shull��ccupy, estubli+h,und utie the Property us sorr��wer's principal residenrc within,ixry duyz ufter che execution of
<br /> . � a this Securiry bititrument und shull amtinuc to nccupy the Pmperty us Borrower's prinripal reslJcncc for ut Ieast ane yenr ufter
<br />_ the date oP occupancy. unless l.�:nder otherwise ugrees in writing, which consent shall nat be unreuyonably withheld,or un(ess
<br /> l . extenuating circumstnnces exist whieh are beyond Borrower's control. Borrower shall not destroy, damuge or impair the
<br />;;z�—,: , Prop:,rty, allaw ihc Prag:rty to det�riorstc, ^r z4mm'st wasr� n� thr Pr��rty R�rrowcr�hull be in defuult if any forfeituce
<br /> •' uction or proceeding,whether civil or criminal, is begun that in I.etder's good faith judgment could result in forfeiturc of the
<br />_, • ' .: Property ar otherwisc matcrially impuir thc lien crcatcd by this Secunry Ynstrument or L.endcr's security interest. Borrower may
<br />- ' ' cure such a default and reinstate,ns provided tn parugruph 18, by causin�the action or procecding to be dismisscd with a ruling
<br />��'"`••" -��" that, in L.ender's good faith determination, precludcs forfeiture of the Borrower's interest in the Property or other materiul
<br /> impairment of the lien crcated by this Security Instrument or I.ender's security in[erest. Borrower shall also be in default if
<br />�,,.��: `,; Borrower,during the IoAn upplication process,gave materially false or inaccurate information ar statements to Lender(or failed
<br />-s', .: to provide Lender with any material informatton)in connection with the loan evidenced by the Note, including, but not limited
<br /> , to, representntions conceming Borrower's occupuncy of the Property as a principal residence. If this Security Instrument is on a
<br />��< leasehold, Bonower shall comply with all the provisions of the Icase. If Borcowcr acquires fee tide to the Property, the
<br />-`�• ' �``' leaschold and the fee title shall not merge unless L.endcr agrces to the merger in writing.
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<br /> xrv.,��•,,..,.,� 7.Proteetion of Lender's Rtghts In the Property.If Borrower fails to perform the covenunts und ugreements contained in
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<br />- this Security Instrurnent,or there is n legal proceeding that may signiticantly uffect Lender's rights in the Propeny (such as a
<br /> ��''"� proceeding in bankruptcy,probatc, for condcmnation or forteiturc or to enforce laws or regulations),then C.ender may do und
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<br /> pay for whntever is necessary to prutect the vulue of the Propercy and Lender's rights in the Pmperty. Lender's actions may
<br />}' ' include paying any sums secured by a lien which has priority aver this Security Instrument, appearing in court, paying '
<br /> � rcasonable attorncys'fees and cntcring on thc Property to make repairs. Although Ixnder muy take action under this paragraph
<br />= - . � � 7,Lender does not have tu do so.
<br /> � Any amounts disburscd by C.ender under this puragraph 7 shall becomc additional debt of Barrower securcd by this
<br />- , 5ecurity Instrumcnt.Unless Bnrrower und L.cnder ugrec to othcr temis ot paymcnt,thcsc amounts shall bcar intcrest from the
<br />- ' ' � datc of disburscmcnt at thc Notc ratc und shull bc payablc, with interest, upon notice from Lendcr to Borrower requesting
<br /> � paymcnt.
<br /> • . � 8. Mort�age Insurance.If Lendcr rcyuircd mortgugc imurance as a condition of making thc loan securcd by this Security
<br /> Instrumcnt. Botrowcr shall pay thc premiums required to maintain ihe mortgage insurancc in cffcct. If, for any reason, the
<br /> mortgagc insuraixc covcragc rcquired by Lcndcr lapses or rcuses to bc in effect, Borrowcr shall pay thc premiums rcquired to
<br /> � obtain r.ovcrage substantially cyuivalent to thc mortgagc insurun�c prcviously in efFcct,ut u co�t substantially cquivalcnt to the _
<br /> ? cost to Bonowcr af thc mortguge insurance previously in cffect, from an altemate moreguge insurcr approve;ci by C.ender. If
<br /> � tiubstantially equivalent murtgage insuranrc covernge is not avuilable,Borrower shall pay to L.ender each month a sum equal to
<br /> onc-twclfth of thc ycarly mortgugc insuran�c prcmium bcing paid t�y Borrowcr when thc insuruncc covcrugc lapscd or ccascJ to
<br /> bc in ef'fcct. Lendcr wiU arrept, use and retain thc�c paymcntx as u lu,s n�crvc in liru uf mortg:�ge insurance, Loss rescrvc
<br /> '� Form 3028 9190 _
<br /> Po{�o�of 6 _
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