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<br /> � ` ; '. RE-RECORut+'� ° 98°��'��� _� �.
<br /> 4 ' ' � �5. Haaard or Peio�ty Iasurstnce. Borrower shall kcep the improvements now existing or hereagter erect e `'
<br /> � � ` propertyr insuced against toss hy fire.hazards included within the term'extended coverage'and aay other hazards. including : '` . ,
<br /> -.� • Qoods or flaading, for w h i c h L e n der requires insurance.This insurance shall be maintained in the amounts aud for the periads • , • :
<br /> - �����..�e���er providing the insurance shall be chosen by Borrower sub,ject to I.ender's apgroval . t'�:'
<br /> - --``�-•r-.��-=' wiuch shall not be u�ueasombly withheld. Lf Rorrower fails to maintain coverage described above, l.ender may. at Leuder's t_ �- � .
<br /> � �_ .
<br /> '. . = option,obtain coverage to protecc Lender's rights in the Property in acsordance with paragraph 7. ,•' •
<br /> � pll insurance policies and reaewals st�a11 be accegtahle to L�eader and shall iaclude a standand mortgage clause. Lxnder � �.�,
<br />- ` ` � sbaU have the rig6t to hold the po�icies and renewals.If Lender�equires.Borrower shall promptlY give ro I.cnder all receipts of
<br /> _ , ,. paid premiums and uenewal notices.Ia the event of toss.Bormwer shaU give pmmpt notice to the insurauoe carrier aad Lender. ,:�`�. .,`.,:.`,':
<br /> (pn�t��y make pmof of loss if aot made pmmpdy by Bocrower. �,- . :
<br /> m
<br /> . � Unless Lender uul Borrower otherwise agree In writing,insurance Pro�s shall be applied to restoration or repair of the �
<br /> . : f proPertY damaged.if the restoration or repair is economically feasi'ble and l.eader's securiry is not lessened.If the rescoration or ,�:`*<:c;�;_.
<br /> t> � , repair is not economically feasi'ble or I.eader's serurity would be lessened,the iasurance proceeds shall be applied to the sums . �.^
<br /> • � � secuied by this Security Instniment,whether or not then due,arith any excess paid to Borrower. If Borrower abandons the • __
<br />��' � Properry,or does aot aaswer within 30 days a norice fram Lender that the insurance carrier has offered to settle a claim, then ;y`�::�:
<br /> : ' • ' �� Lender may collect the insurance pmceeds. Lender may use the praceeds to repair or restore the Property or to pay sums ., _---
<br /> '�'"'� . secured by this Securiry Iusuument,whether or not then due.The 30-day period will begin when the notice is gi�en.
<br /> Unless Lender and Borrower otheiwise agree in writiag,anY aPPlication of praceeds tn princiPal shall not extend or . __
<br /> . Posqione the dae date of We monBily payments referred to in paragaphs 1 and 2 or chauge the amount of the paymenu. If . _ __
<br /> � � � - under paragraph 21 the Prnperry is acquind by ixnder, Borcower's right to any insurance policies aad proceeds msniting from s
<br /> '�.� • damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums se�ued by this Securiry Instrument �;.�.
<br /> . . immediately prior to the acquisirion. .
<br /> • ' -� 6.OccuPanc9,P�'eservatton,Maintenance und Protec�on of the Property,Borrower's Laan ApplIcation;Leageholds. > ;.• ��-
<br /> i. �`' „+—
<br /> . . .i, Borrower shaU occupY,establish.and nse the Property as Borrower's principal residence within sixty days after the execurion of � �.: ;-.1�--_
<br /> � this ge�urity Inscrument and shall continne to occupy the Property as Borrower's principal resideace for at least one year afte�r '�-'
<br /> ` •. the date of occupancy,wiless Leader oWerwise agrees in writing,which wnsent shall not be unreasonably withheld,or unless , :"•�.�----
<br />.,�;�'• : � . � extenuaiing cucuu�stances exist which are beyond Borrower's conuol. Borrower shall not destroy. damage or impair the _ _
<br /> '�•�'� propetry allow tlie Property to deteriorate, or wmmit wasce oa the Propercy.Borrower shall be in default if any forfeiture _____
<br />:,�.} , ,'?F�"� a c t i o n o r p r o c e e d i n g.whether civil or crim�nal,is begim that in Lender's good faith judgment cou:d m,siilt ia forfeiture of the . . .--
<br /> .. . . • ' property or othenuise materially impair the lien created by this Security Instrumeat or Len der's security ia t e r e s t. B o r r o w e r m a y
<br /> �--
<br /> aue such a defautt and reinstate.as provided ia paragraph 18,by causing the acaon or proceediug to be dismissed with a ruling ���°�•',
<br /> ,: . •-n•-Y
<br /> �<,:. .,� � � . that, in Lender's gaod faith determination, precludes forfeituie of tha Borrower's interest in the Ptoperty or other material _ ;.ti;`,,. ��
<br /> - - ' � . irppairment of the lien created by this Securiry Instniment or Lender's securiry interest. Borrower shall also be in default if ;,-,�,__.
<br /> ���� Borrower,during the toan application pmcess,gave materially false or iaaccurate information or statements to Lender(or failed ;";�;_
<br />. " to provide Lender with a�+material infam�atiop�in�°nn�ion with We toan evidenced by the Note,including,but not limited �� =„,;
<br /> . . to,representarions conceming Bonawer's occupancy of the ProPertY as a principal residence.If this Security Instrument is on a f 1, �":��
<br /> � • ' teasehold, Borrower shall wrt�ly with a11 the provisions of the lea5e. If Borrower acquires fee title to the Property, the . ;:�{..:
<br /> '" leasehold and the fee tit�e shall not merge unless Lender agrees to the merger in wciting. ' �.s-
<br /> � �•' 7.Proter.tton oY Lendee's Rights�the Propettiy.lf Borrower fails to perform the covenants and agreemenu contained in � -''
<br />�'``'' . �� ' ' tdis Security r„��ment.or there is a legal proceeding that may significandy affect l.eader's rights in the Property(such as a ",._,�=
<br /> ,::. . . . .
<br /> . proceeding in banIwptcy,probate,for condemnation or forfeiture or to eaforce laws os regulations),then Lender raay do aud � . .'�
<br /> `�'�� '� . • pay for whatever is necessary to protect the value of the Property and Lender's righu in the Property. Leader's actions may .. . . __
<br /> an sums secured by a lien which has priority over this Security lnsaument, appearing in court. PaY�B �,��
<br /> " '`.�•, include PaY�B Y . . . .
<br /> �-� reasonable attomeys'fees and entering oa the Property to make repai�s. Although L.ender may take action under this paragraph ,
<br /> ;;. . � 7,Lender does not have to do so. � :
<br /> ,.�,' . �-� My atnounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this .
<br /> ; Security Iastrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the ::;';,•.;
<br /> .� � �::� date of disbursement at the Note rate and shall be payablc. with interest. upon notice from Lender to Borrower reyuesting
<br /> • �
<br /> . .� • ;.z payment. � � .
<br /> � ` , s 8.Mortgage Insarance.If l.eader required mortgage insuransc as a mndition of making the loan secured by[his Security . .
<br /> .� ' , ' ••� lnstrument. Borrower shali pay the preminms required to malntain the mongage insurance in effect. If. for any reason, the :`
<br /> � , �� ��1 mortgage insurance coverage required by Lender lapses or ceases to be in effect,Bosrower sha11 pay the premiums required to �� �� , ..
<br /> • '� obtain coverage substantially equivalent to the mortgage insurance pr�wiously in effect,at a cost substantially equivalent to the ' ',;
<br /> �' ' wst to Bonower of the mortgage insurance previausly in effect, from an altemate mortgage inswer approved by Lender. If ..
<br /> •. substantially equivalent mortgage insurance coveraSe is not available,Bonower shall pay to Lender eacl�month a sum equal to
<br /> � one-twelfth of the yearly taortgage insurance premium being paid by Bonower when the insurance wverage lapsed or ceased to . .
<br /> ' be in effect. Lender will accept,use and retain these paymenu as a loss reserve ia tieu of mortgage insurance. Loss reserve
<br /> � � form 302 90 ' .
<br /> • � �-6VINE1+e2�2�.oi �a9e 3 018 �N����: •
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