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<br /> 5. �rd or Pr+operty insm�nce. Borrower shall keep the impmvements now existing or hereafter erected on the
<br /> _`_` - �.� ProPerty iASUn�d against loss by fue.ha7ards iacluded arithin the term "extended coverage° and assy other ha7ards. incInding �. 1a \ ` - �' ,
<br /> tloads or flooding,for which lender requires insurance.This insurance s1�a11 be maintai�d in the amounts and for the periods
<br /> . � -� that Lender cequires.7Tae inswaacc carrier provid�ng the insurance shall be chosen by Borrower subject to l.ender's appmval - - • - .-
<br /> ;� - - -":�-- wlrich shall aot be unreasoaably arithheld. If Horrower faiis to maintain caverage descnl�ed above, Leader may. at L.euder's —�: �.'>.-��:
<br /> � option.obta3n wvenge to protect Lender's rig6u in the Property in accordance witb paragraph 7. ; �. :=•
<br /> , AIl insurance policies and renewats shall be acceptahle to Lender and shall include a standard mortgage ciause. Lender 5 � -'
<br /> ' . . shall have the right to hold the policies and renewals. If Leader requiies,Boaower shall prompdy give to Laider all receipu of � ` ° >"
<br /> � gaid premiums and renewai notices.Ia the eveni of loss,Borrower shall give prompt notice to the insurance carrier and I.ender. ... � ,'
<br /> , . Lender may malte proof of toss if not made promptly by Borrower. - _
<br /> ` . Untess Lender and Borrower otherwise agree ia writing,insurance pmceeds shall be applied ta restoration or repair of the , . � _=
<br /> Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restontion or . -
<br /> • ' reQair is aot econamically feasi'ble or Lender's securiry woutd be lessened,the insurance pnoceeds shall be applisd to the sums . . �
<br /> � � ' � seaued by this Security Jnstniment, whether or not then due,with any excess ptud to Borrawer. If Sorrower abandons the � - -`�_�'`
<br /> • Pmperry,or daes not answer within 30 days a nodce from Leader that the���*��ce c�nier has offered to settle a claim,then • , _ -
<br /> � . Lender may collect the intivmnce pmceeds. L.ender may use the proceeds to iepair or restorc the Property or to pay sums ---_
<br /> , �. . . secured by this Security Insnunnent,whether or not thea�ue.'Ihe 30-day period wiIl begin when the notic:e is given. ., _—_-
<br /> � Unless Leader and Bomnwet othecwise agree in wriring, airy a�plication of pmceeds to principal shaU nos extend or ` �;r�:�:'�-
<br /> �� � postpoae the due date of the monthiY Payments�ferred to in paragraphs I and 2 or change the amoont of the payments. If •:_. . �-��==°--
<br /> � � under aza h 21 the Pro rty is a uired b Lender,Borrower's ri t to aa insurance licies aad r�oceeds resultin from � =`, j :,�-�
<br /> . P �P FE �4 Y �► Y F� P g � .�..�•._..
<br /> � , damage w the Pmpecty prior to the acquisirion shall pass to L.ender m the extent of We swns secured by this Seauity Instrument � '� '-�r,�=__
<br /> � immediately prior to the acquisiuon. _.- • ----
<br /> �, _ , � 6.Oceapancy,Pc�servation,Matntenance and Protedton nf the Property;Borrower's I.oan Applic�ation;I.ease6olds.
<br /> �g n
<br /> .-..�''Tm'�.
<br /> - . :'� Horrower shall acc�py. cstabJis6.and nse the Property as Bormwer's psincipal residence within sixty days after the eaecution of �. �, '`-..
<br /> this Securl Instrumeni aad shaU coatinus to o the Pro as Bonower's rin residence for at least one ear after '�-_;
<br /> . tY �PY P�Y P � Y .., �_ ._..—,—::_.
<br />-.�r • � '. "' the date of uccupancy,unless Lender othetarise agrees ia writing,which consent shall not be unreasonably withheld,or untess - _-
<br /> _ . . � � extenuating clrcumstaacxs eais[ which are beyond Borrower's control. Borrower shall not desaoy, daraage or impair the • =--—
<br /> � � - Properry, altow the Praperty to deteriorate,or commit waste on the Property. Borrower shall be in default if any forfeitiue . ,: i:�.,.
<br /> � aaion or proceed'ing,w6ether civil or crimiaal,is begim that in Lender's good faith judgment could result in farfeiture of the , ' 3�'-'"�
<br /> � � Property or otherarise u�aterially impair the lien created by this Security Iruuument or Lender's secauiry interest.Borrower may , �—;
<br /> � cure such a default and reinstate.as pmvided in paragraph 18,by causing the action or proceeding to be dismissed with a raling , .�'� `��
<br /> � that, in Leader's good faith determination,precludes forfeinue of the Borrower's interest in the Propetty or other materiat � ' . ::;���
<br /> ` �, � impairment of the tien created by this SecurIty Insuument or Lender's security interest. Borrawer shall also l� in default if "�`•'"'`� � " '"=°
<br />-.t � �_ Borrower,during the tos�n application process,gave materially false or inaccurate information or statements to Lender(or failed ''�"��z � • _��..��
<br /> • ,;r.;?:
<br /> ;':�:;r�_
<br /> •. , . . to pmvide Lender with any material information)in connectlon witb the loan evidenced by the Note.including,but not limited . .;,;:-
<br /> . to,mpresentations conceming Bonower's occupancy of the Property as a principal residence. If this Securiry Insuument is on a :;i;.
<br /> � teasehold, Borrower shall comply with all the provisions of[he lease. If Borrower acquires fee title to the Property, the ' '" _=
<br /> `�' � � . -- Ieasehald and�he fee uQe ahall uot merge ualess Lender agrees to the merger in writing. - - �-� .— --_
<br />' � ` 7.Protection of Lender's Rights in the Proyerty.If Boaower fails to perform the wvenants and agreements coatained in � '==
<br />" .•,- � :; this 5ecutity Instrument.or there is a tegal proceeding that tnay significantly affect l.cnder's righu ln the Property(sucb as a : .. : � •�:
<br /> � � ..:J proceeding in bankruptcy,probate. for condemnation or forfelture or to enforce laws or regulations),thea Lender may do and ��.�.,,
<br /> , - pay for wtuuever is necessary to protect the value of the Property and Lender's rights ia the Property. Le�cder's aaions may
<br /> �";;�•: include paying any sums sec�ued by u tien which has priority over this Security Insnument, appearing in court, paying ': � „ .
<br /> �. `� ceasonable attomeys'fees and entering on the Property to maatce repairs.Although Lender may take action under this paragraph : ;••• .
<br /> , � ?.Lender daes not have to do so. ,
<br /> � i Any amouats disbursed by Lender under tlus paragraph 7 shall become additio�al debt of Borrower secured by this :�.. . "
<br /> � Securlty Instnunent.Unless Bonower and Lender agee to other terms of payment.these amounts shall bear interest from the •
<br /> • � . date of disbursement at the Note rate and ahall be payable. with interest, upon notice from l,ender to Bonower requesdng � .
<br /> . . payment. ' , �
<br /> , ' 8.Mortgage Insuaance.lf Lender required mortgage insurance as a condition of making the loan secured by this Security • � ,
<br /> Instrument, Bonower shall pay the premiums required to maintain the mongage insurance in effect. If. for any reason,the
<br /> ' � mortgage insurance coverage requited by I.ender lapses or ceases to be in effect,Borrower shalf pay the premiums required to . • .
<br /> . obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost snbstantially equivalent to the
<br /> . wst to Borrower of the moMgage insurance previously in effert. from an altemate mortgage insurer approved by l.ender. If
<br /> � substantially equivalent mortgage insurance wverage is not available,Bonower sha!1 pay to Lender each month a sum equal to
<br /> i; { one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to • . � �.
<br /> • be in effect.I.ender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve '
<br /> � Form 3028 9190 ' ' ,
<br /> � . ��6VtNE1�9��s�.oi Page 3 016 i„�y,`� .
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