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<br /> ` , • 5, !{�rd or Praperty ittsnrattce. Borrower shall keep the improvemenu now eaisting or heceafter erected on the . �;: t`
<br /> ' � .' Pmperty ir�+ured against toss by ftre. harards inctuded within ti�e term"excended coverage'and any cther hazards. including ,, ..`,�,` ,
<br /> • • � fhx�ds or flo��ing.for which I.ender requires insurance.This insurance shali be maintained ia the amounts and for the periods � 4 .� i
<br /> th:rt Lender requims. The insurance carr►er provid'mg the insuran+:e sl�al! 6e chosen by Barrower subject to Lender s approval :� . � �� °
<br /> � �_;;l,_.: which shall not be unrea�onably withheld. If Borrower fails to maintain:overage described ahave, Lender may. at Lendei s
<br /> -- - -- ortion.obtain m�ersge to protec[L.ender's righu in ihe Propercy in dcxrordauce with paragraph 7. '' ' ` � ' .
<br /> - --_—. Ail iruurance policies and renewals shall be acceptable to Lender ane1 sha11 include a standard mollgage clause. Let►der �:_:�._.._�:.
<br /> � • ` shall have the right to hold the policies and renewal�. if Lender requires.8orrower shall pmmpdy give to Lender all receipts of
<br /> >..�: �
<br /> � . paid premiums and reaewal notices.In the event of lo�s.Borrower shall give prompt notice to the insurance canier and Lender. '
<br /> - Lender may make proof of lass if not made pramptly by Borrower. � ,��. �.,.
<br /> � Unless Lender;ind Borrower otherwise s►gree in writing.insurance proceedS shall be applied to restoradon or repair of the u .,,:':
<br /> . . � ' property damaged,if the restoration or repair is econumirally feasible and Lender's se�.�urity is not lessened. If the restoration or ���`: �� F -��
<br />.�E``<� . ' �-'A�-:_
<br /> ` repair is not economi c a l ly f e a s i ble or Lender's securi ty would be lessened.the insurance proceeds shall be applied to the sums 'i , Y.:�
<br /> ` � � � ' secured hy this Security Instrument. whether or not then due, with any excess paid to IIorrower. If Bosrower abandans the , x•.._ - '-
<br /> , - , ; property,or dues not answer within 30 days a notice from Lender that the insurance rarrier has offered to�ettle a ctaim,then J��
<br /> or to a sumc
<br /> , Lender may collect the insurance prac�ds. Lender may use the Praceeds to repair or restore the Properry P Y —
<br /> secured by this Security Instrument,whether or not then due.T6e 30-day periad wiq begin when the notice is given. ', _
<br /> � • Unless Lender and Borrower otherwise agree in writing, any application of proceeds co principal shall not emend or ., . �s�__
<br /> �, . postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. if ;: _
<br /> ' under paragraph 21 the hroperty is acquircxt by Lender. Borrower s right to any insurance policies and procceds resulting from ,�-
<br /> �•' . � ` dama�e to the Property priar to the acquisition shall pass to Lender to the extent of the sums secured by this Security(nsttument '_ � '�-,�
<br /> T .. �_��
<br /> immediately prior to the acquisition. -.__.
<br />_ , , ; 6,p�p�nzy�pr�ervation,l►faintenance and Protectlon of the Property:Bnrrowcr's Loan Appficat[on;Leasebolds. _�---
<br /> . ��::.•t. �� � .'.__
<br /> Borrower shall occupy,establish,and we the Property as Borrower's principal residence within sixry days after the execuuan of '�,..�. ;�;;1�.
<br />:,;.:. =•. ,.. ttus Securiry[nstrument and stralt continue to occupy the Praperty as Barrower's principal residence for at least one year aRer i�:`y�'�?�=y= _`
<br /> .�:•ff�..��i'..
<br /> - ' t he d ate o f oc c u p a n c y.unless Lender otherwise agrees in writing. which cotuent shali not be uasea5onably withheld. or untess �.:�,�..�_
<br /> _ � extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair t he � ; .y�:
<br /> ` �:. �--
<br /> � � • Property. allow the Property to deteriorate. or commit waste on the Property. Borrower shall be in default if any forfeiture =_M
<br /> � action or proceeding,whether civil or criminal. is begun that in Lender's good faith judgment could tesult in forfeiture of the '4. ;•� "`
<br /> ` . ' . Property ar atherwise materially impair the lien created by this Securiry Instrument or Lender s security:nterest. Borrower maY . , s--_
<br /> '�` ,.' cure such a default and reinstate,as provided in paragraph 18.by causing the action or proceeding to be dismissed wit1�a naling ., _,..�
<br /> that, in Lender s goad faith detercnination, precludes forfeiture of the Borrower s intecest in the Property or other material •.�..-'�
<br /> • _ impairn►ent of the lien created by this Security Instrument or l.ender s security interest. Borrower shull also be in default if } �
<br /> _,ff ;` � . , � Barrower,during the loan application process,gave materially false or inaccurate information or statements to l.ender(or faited � .�J
<br /> • . to provide Lender with arg• material inforn�ation)in connection witn the loan evidenced by the Note.including. but not limited ' _�_
<br /> ..
<br /> -`f�� � • � to,representations canceming Borrower's occapancy of the Praperty ac a principal residence.If this Security Instrument is on a : �,��,,,�:
<br /> ,, r �.
<br /> leasehald, Borrower shall camply with all the provisiona of the lease. If Borrower acquires fee title to the Property. the . . . „ „��
<br /> . �'L.�
<br /> , • leasehold ar.d the fee title shall not merge unlcss l.ender agrees to the merger in writing. � �e,.,
<br /> . 7.Peoteetton of l.ender's Rlghts in ihe Property.If Borrower fails to perform the covenants an d agreements contaiced in .;�.��.
<br />-�s; �'� this Security Instrument,or there is a legal procecding that may significantly affect Lender's rights in the Property (such as a : :_.;�,._
<br /> ' proceeding in bankruptcy,probate,for wndemnation as forfeiture or to enforce laws or regulations),then[.ender may do and .�.-
<br /> pay for whatever is necessary to protect the value of the Property and Lender's rights in the Praperty. Lender's actions may ' ,:• ��_;
<br />- ' � <' ' °- include paying any sums xecu:ed bt � lien wfiich has priority over this Security instrument, appearing in court. paying _
<br /> . . . • '. re�asonable attomeys fees and enteri-_�.:�:�the Propercy to ma:ce r�pairs. Althaugh Lender may take action under this paragraph
<br /> .� � 7.I.ender dues not have to do eo. � � ' �,
<br />•S�r . ' .
<br />:-_fr� � � , Any amaants disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this 'r. .: =�,,;�.
<br /> ' Security Instrument. Unless Borr�wer and Lender agree to ather terms of payment, these amounts shall bear intecest Gom the .
<br /> `' date of di�hwrscment at the Note rate and shall be payable, with interest, upon notice f:am Lcnder to Borrower requesting .
<br /> . � paymcnt. . ' ,
<br /> ' � 8.Mori�age insur�attee.lf l.ender reyuired mongage insurance as a wnditian of making the loan secured by this 5ecuriry .
<br /> ' � Instrument. Borrower �l:all pay the prrmiums required to maintain the mortgagc in�urance in effect. 1f. G'r any reaton, thc
<br /> ? mnrtgnge insurance rnver�ge required by Lender lapses or ccaees to be in effec[. Borrower+hall pay the premiums required to .
<br /> obtain coveragc cubtitantially equiv:Ier.t to the mortgage intiurance previously in effect. at a cost substantially equivalent to the
<br /> • • • mst to Bormwer of the mortgage ir,�.rancc previously in effect, fmm an altemate monga�� insurcr approvcd by Lender. li
<br /> • � sub.rtantially eyuivalent martgage insurance covetage is not available. Borrower shall pay ta Lender each momh a sum equal to , . . •
<br /> - • one-twelfth of the ywrly mnrtgase insutance premium being paid by Borrower�vhen the insurance covera�c lapsed or ceased to •
<br /> . � � " be in cffect.Leader will acccpt.usc and retain thetie p•ryment�as a loss retiene in lieu nf mongage insurance. Loss reserve
<br /> , Form 3028 9190 �
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