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<br /> ' 5. Hazard or Property Irssurance. Bonawer shall keep d�e improvements �x�w existing or hereafter errcted on the
<br /> i Propeay iiuured agaii�.tit loss by fire. hazards itxluded wid�in the tenn "extendec! coverage" and any other hazarJs, Includtng i �
<br /> tlexxls or flcxxliug. for whicli Lemler requires in,uranee.Tl►i,ii�,urancc shall be malntaine�l in dte xm�+unts and ti�r the periods C{�
<br /> that l.ender requires.The In�vrance cartier providing the ins�urxnce shull be chaaCn by Hnrcowcr subject to I.ender's approval AO I
<br /> which shull not be unreasonab�Y W�cl�Leld. lf Bonowec fails ta malntain coverxge described abave, Ixnder n�ay, ac Ixnder's � `
<br /> option,obtain coverage to protect l.ender's rights in the Property ln acwrdunce with parstgraph 7• � � -
<br /> All Insvrance policies aixl renew�ls shall be acceptable to Lender and stwil iaclude a stanclurd mortgage clause. I.ende�.'•' i Y
<br /> shall have the right to hald die palici�s aad renewals. If I.ender requires, Bonower shull prompdy give to[.ender all recelpts o� , �
<br /> paid premiums und reaewal notices.In the event of la�s,Borrower shall give prompt notice to the insurance exrrier and Lender� ;��;�
<br /> Lender mny make proof of loss if uot raa�le promptly hy Borrower.
<br /> Unless I.eader and Borrower othenvise agree in writing,insurance proceecls sha11 be applied to restaration or repalr of tb� ��_—
<br /> Property damagecl.if the restoradon or repsur is economically feasible xnd Le►xler's security is not lessened. lf the restoraUOn ar �•..;._ ��
<br /> repair is not economicxlly feasible or uuder's security would be lessened. tbe inti-ur�nce proceecls sh�ll be applied to the surns
<br /> ' secured by tlus Security Insuument. whether or not then due, with any excess pxid to Barrower. If Borrower abandans the
<br /> Property, or dces not answer wit6in 30 days a natice from Ixnder that the iw'urance carrier l�aa affered to setde a claim,then
<br /> Leader may collect the insurance proce�ds. I..ender may use tue proceeds ta repair or restorc diC Propeny or ta pay sums
<br /> secureci by this Security InstNment,whether or not dien due.The 30-day periac!will be�iu when the notice is given.
<br /> Uiiless Lender and Borrower otherwise agree in writing, any application oF procceds ta principal shxli not extend or
<br /> postpone the due date of the monddy payrrents refened ta in puragrapbs 1 ssnd 2 or chunge the amount of the paymeats. If under
<br /> � paragraph 21 the Propeny is acquired by L.ender, Bonower's right ta any insurance policies and proceeds resulting fram
<br /> damage to the Property prior to the acquisition shall pass to Lender to the exteut of the swus secured by tlus Security Instn�ment ��
<br /> iaunediately prior to the acyuisidoa. , �''�
<br /> 6. Occupancy,Pceseiwatton,Malntenance und Protection of the Property;Borrower's Loan App![catton; Leaseholds. i��"
<br /> � Borrower shall occupy.establisri,and use the Property as Borrower's principal residence with9n sixty days after the eaecuuon of .��
<br /> tlus Security Instrument and shall conunue to occupy the Pra�erty as Borrower's principal restdence for at least one year after ., • _
<br /> , �P(!}{�_P.l)f t1CCll�flI1CV, unless L.ender othenvise agrees in wdting, which consent sh�ll not be unreasonably withheld, or unless -.�i, _ _
<br /> extenuaring circumstances exist whic6 am beyond Bonawer's conUOl. lsortower �rali uui �ic�troy, dama8e or isnPair th� .�, ,_. ;;—
<br /> property, allow the Property to deteriorate, or commit wuste on the Properry. Borrower sLall be in default if any forfeitvre ,:,� ;:'����,,.
<br /> action or proceeding. whether civil orcricninal, is begun that in Lender's gaod faith judgnent could result in forfeiture of the .�,,, •;�y:-
<br /> Ptoperty or otherwlse materially anpair the lien created by tlus Security Insuuraent ar Leader's security interest. Bonower may q�,;:•_
<br /> cure such a default and rein�tate,as provided in paragraph 18.by causing the action or proceeding to be dismissed wich a�uling �'• ��',,�
<br /> that, In Lender's good faith deunninacion, pnxludes forfeitum of the Borrower's interest in the Property or other msterIal �j,
<br /> impaicment of the lien creared by this Sexuriry Iastrunient or Lender's security interest. Borcower shall also be in defaule if
<br /> Borrower,durins the loan applicadon process,gave materiully false or inaccurate inforrnadon or statements to Lender(or failed � `
<br /> � to provide Lender with any material iafom�ation)in cannecdon with the loau evidenced 6y the Note.Includiag.but not limited ��
<br /> to, representadons concerning Burrowor's occupuncy of the Properry us a priac[pal residence.If this Security Instrumeat is on a -�
<br /> ledsehold, Borrower shall comply witli all the provisions of the lease. If Borrower acquires fee tide to the Property. t�e �
<br /> leasehold and the fee dde shall not rnerg�unless L.ender agrees ro the merger in writing. �:_
<br /> 7.Protect[on of Ixnder's Rights in the Property. If Borrower ftuls tu perfocm ehe covenants and agreements contxined in ����
<br /> this Secudty Instrument, or there is alcgal proceeding thxt may�ig►uficandy affect lxnder's rights in the Praperty (such as x `�_�,._-
<br /> robate. for condemnation or forfeiture or to enforc:e laws ot re ulatiasu),tuen Lender ma do and �ti;•:s."". _
<br /> proceediug in bankruptcy.P b y .-
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<br /> !' pay for whatever is necessary to prouct the value af the Property und Lxnder�s rights in the Property. Lender's acdons may ___ _
<br /> include paying any sums secured by a lien which h�u priority aver tliis Security Justrument, appeuring In court, paying ��'..;�.��,o,
<br /> re:�conable attorneys' fees and �irteriag on the Froperty to make repairs. Although L.e�YCkr niay take acaon under this puragraph �
<br /> 9, [.ender dces not have to du so. , ���
<br /> Any amounts disbu�sed by Lxnder under this p:uagraph 7 sh�ll b�:ome additional debt of Bonower secured by this '''d� �•f'+��-�-��'
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<br /> Security Instrument. Unless Borrower and L.ender agree tu other cerms of payment,these :unoun�ti shall beur interest from the ��;k: . .f',�;;�
<br /> clate of disbursement at the Nate raie and shall he pxyable, with inrerest, upon notice from Lender to Borrower requesdng .,�'�..;.�":�;.�
<br /> payment.
<br /> 8.Mortgage Insurance. If L.en�er rec;uired mortgage iiuurdnce as x condition of making the loxn secured by this Security :f�..
<br /> Insuument, Barrc�wer shall pay the premiums required to maint:sin the mortbage insuiance in effect. If, fur any rea+ron. the
<br /> moagage ii�surance coverage rex�uireJ by Lender lapses ar ceases tu be in effect,Borrower shall pay ehe premiunu required to
<br /> obtain coverage subswntially eyuivalent to tlie mongage i�uurxnce previously in effe�:t,at a cost substantially equivalent to the
<br /> cost to Bonower of d�e mortgage itnurance previc�usly in effect, frnm an alternate nwrtgage icuurer approved by Lender. If
<br /> substandally equiva(ent murtgage iiuurdnce caverage is not availahle, Botrower sl�all pay w Lxnder e:tcli month a sum equxl to ,
<br /> one-twelfth of the yeurly mua cSaBe i�urence premium heing paiJ by Borrower wl�e�i tLe iiuurance coverage lapsed or cea.�ed tc� ,
<br /> be in effect.Lender will accept,use and retain diese payraents as a le»s reserve in licu of mortgage ituunuice. Lc»s rese►ve �i
<br /> i Form 30 91y0 I1
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