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<br /> �; 4'"� 5. Hazard or Pro�ertv Insurance. Borrower shail keep the improvements now existing or hereafter erected on the � `.�<<: �• :
<br /> = , ,: � ,. .` Property insurod agaiiut loss by fire, hazards inctuded within the term"eaten8ed coverage"and sr►y other ha�ards. including .
<br /> _.- floods or flaoding, fur which Lender requires insurance. This insurance shall be maintained in the amounts and for the periads . � .
<br /> � �..�.�..�;'C. . .4 .'�(
<br /> • that L.ender requires_ The insurance carrier pru�iding the insurance stiall be chosen by Barrawer subject to Lender's approval „
<br /> ,- -'- � � which shat! nos be unreasonably withi�eld. If Borrawer fails to maintain wverage describeJ abuve. L.ender may, at Lender's - -_' �_
<br /> : `�� option,obtain corerage to protect Lender's rights in the Property in accordance with paragraph 7. ';, ,r -
<br /> - All insurance policies and renewats stiali be acceptable to l.ender and shall incfude a standard mortgage clause. I.ender ��. �'`��
<br /> _ . ` ` . shall have the right to hold the policies and renewals. If Lender requires.Borrower shall promptly give to L.ender al!receipts of ' "� � �
<br /> . paid premiums and renewal natices.In the event of toss, Borrower shall give prompt notice to the insuranoe carrier and Lender. ,:
<br /> �.''�,. `, l.ender may make proof of toss if not made procnpuy by Borrower. � :
<br /> • • Unles�Lender and Borrower otherwise agree in viriting, i�urance proceeds shall be applied to restoration or repair of the � �� • . _
<br /> � . , ' Property damaged,if the restoration or repair is economicalty feusible and L.ender's secutity is not lessened. If the restoration or '� / _=
<br /> � <� _ repair is not economirally feasibte or Lender s security would be lessened, the insurance praceecls shall be applied to the sums .. • :=-
<br /> • , secured by this Securiry Instrument, whether or not then due. with any excess paid ta Borrower. If Borrower abandons the ' '��`-
<br /> ,'�:`�:•,. Praperty. or does not answer within 30 days a notice from Lender that the insurance carrier has offere�to settle a claim,then i �' _ ._
<br /> " ' I.ender may collect the insucance praceeds. I.ender may use the proceads to repair or restore the Property or to pay sums �
<br /> . secured by this Security Instrument,whether or not then due�The 30-day period wi11 begin when the iwtice is given. - ~�,' ''���'
<br /> � � . Unless Lender and Borrower otherwise agree in writing. any application of proceeds to principal shall not extend or � � '��
<br /> V " • postpone the due date of the momhly payments referred to in paragraphs 1 and 2 or chan�e the amount of the payments. Jf ::�',. �"-!
<br /> ` 1 • �. � " under paragraph 21 the Property is acquired by i.ender. Burrower s right to any insurance policies and proceeds resulting from �� {•' i;,�
<br /> ' damage to the Property prior ta the acquisition shall pa�s to Lender to the extent of the sums secured by this Secority Insuument • , -
<br /> ,:��-
<br /> ` - immediately prior to the acquisition. , :' ' � "_�"
<br /> ���`, , � ` I 6.Occupancy,Prescrvation.l�lainteaance and ProtectEon of t6e Pcoperty:Borrower's Loan Application;Ixaseholds. , ~' �•���:.,
<br /> � ��,;� Borrower shall occupy.estabfish,and use the Property as Barrower's principal residence within sixty days after the execution of "- .;��__
<br />"�'. ` ,, this Security Instrument and shall continue to accupy the Property as Borrower's principal residence for at least one year afier ' , __--
<br /> .:",f.-- . =:�._
<br /> ,.r '• ,t,� the date af accupancy.unless Lxnder otherwise agrees in writing.�vhich cflnsent shall not be unrea.canably withheld, or unless f : �. . __.
<br /> � ..
<br /> � eatenuating circumstances exist which are beyond Borrower's conttal. Borrower shaU not destroy, damage or impair the �- • , �`{'-
<br /> ' Praperty, allow the Properry to deteriorate. or commit waste on the Property. Borcower shall be in default if any forfeitum �, r�
<br /> � action or proceeding. whether civil or criminal, is begun that in Lender s goad faith judgment could result in forfeiture of the ' _;-�_
<br /> • Propeny or othen�ise materially impair the lien created by this Security Instrument or L.ender's securiry interest. Borrower may �'�`�
<br /> ''�� • cure such a default and reinstate.as provided in paragraph 18,by causing the action ot pr�ing to 6e dismissed Rith a rnling �:�:;,,,,,�'
<br /> � � . � that. in Lender's good faith detecmination. precludes forfeiture of the Borrower s interest in the Propeny or ot;�.:o material �• • .�`;`�
<br /> . - - " �? � impairment of the lien created by this Security Instrument or Lender s security interest. Barrower shall al�o be in default if „ �_:�'
<br /> �. � Borrower,during the loan application pracess,gave materially false or inaccurate information or statements to Len3er(or fai{ed .;_��;�_
<br /> ;:
<br /> :��- to pro�ide I.ender with any material information)in connectian with the loan evidenced by the Note.including, but not limited '� �• '••-�_
<br /> � � � �� ta, rep:esentations conceming Borrower's occupancy of the Property as a principai residence.If this Security Instrum.ent is on a '.. , ����'�'�'�!'�
<br /> �,:.� � ` •�� leasehald. Borrower shall compty with all the provisions of the leace. lf Borrower acquires fee title to the Property. the . •��'�=
<br />. ' leasehold and the fee title shall not mer�e unless Lender agrees to the mer,er in writing. • • � - _
<br /> ' • • 7.Pratection of Lender's Rights in the P�vperty.If Barrower fails to perform the covenants a.�3 agreements wntained in � —
<br /> _ , this Security Inslrument, or there is a Iega! proceeding that may significantly affect Lender's rights in the Praperty(such as a �� �'
<br /> • � � �`; proceeding in bankruptcy. probate. for candemnation or forFeiture or to enforce laws or regulations). then l.ender may do and ' -
<br /> ' . pay fer�vhatever is necessnry to pratect the value of the Property and L.ender's rights in the Property. Lender's accions may . ' •
<br /> � include payins any sums cecured hy a lien whicA hac priority over this Security Instrument, appearing in court. payln� � � . _
<br /> . � '- rcasonable attarncys•' fees and entering on the Property to make repairs.A?thou�h Lendcr may take action under this paragraph ,..� ,.
<br /> ` .. • 7.Lender does not have to do��. �•
<br /> • ��. . Any amounts disbursed by Lender under thi� paragraph 7 shall hecome addit+anal debt of Borrower secured by this : „
<br /> `.�..
<br /> , � , Security Instrument. Unless Borrower and l.ender agrce ta other terms of payment, thesc amounts shall bear interest from the � .
<br /> � ' . date of di�,bursement at the Note rate and �ha!1 bc payable, with interess, upon noticc fram Lender to Borrower requesting ' r .
<br /> ,. Payment. � �� .• �
<br /> �� • 8.Mort�age lnsurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> ��• lnstrument. Bonower shall pay the premiums required to maintain the mongage insurance in effect. If, for any reason, the � ,
<br /> r mortgage insurance rnver�ge reyuircc!by l.ender lapses or ceaties t�he in effect. Borrower shall pay the premiums required to • � .
<br /> ; obtain coverage sub�iantially equivalent to the mortgage insurance previously in effect.at a wst substantially equivalent to the '
<br /> r � ' cost to Borrower of the mortgage insurunce previously in effect, from an altemate mortgage insurer apprmeci by Lender. lf • .
<br /> : `• �" substantiaUy eyuivalent rnongage in.urance_overage is not available.gurrower�hall pay ta Lender each manth a sum eyual to ,
<br /> one-twelfth uf the yearly mortgage intiurance premium being paiJ by 6nrmwer when the insurance coverag�e lapsal ur cea�ed to
<br /> � . � • he in effect.l.ender will accept.use and retain tfietie paymentt u.r a lutis resen•e in lieu uf mungage insuranee. Loss reserve
<br /> . . Form 3028 9190 � "
<br /> � • PuAO 3 u�E � �
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