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<br /> 5. Raaard or Prope�Ry Insuraaoe. Borrovvet shaU kee� the impravements naw eais�ting or hereafter erected an the
<br /> ' pcopertY inssued againSt toss by fue.hazards included within the temz'extended coverage°and any other 6a:ards.inctuding ttL� � .
<br /> . floods or Saodins,for which Lender requires ims�uance.This ioc�„�„ce shari be maintained in the amaunts and for the periods � � . _ .
<br /> ' , ' that Lender teqaires.The iasurance carrier providin8 the'^�„�°'�s�a11 be chosen by Banower su6ject to I.ender's appmval 0 t
<br /> which shall not be wueasonably aithheld. If Borrower fails to maintain covecage descn'be@ above. I.ender may, at Lender's � �. ` ' �� : '
<br />- .` . -,�=j.= option.obtain mve�age to protect l.ender's rights in the Pmperty in accontance with paragiaph 7. �. ^:�_,�.<_. __.._
<br /> . . All ins�uauce policies and tenewaLs s6all be acoeptable to Lender and shall include a standard mortgage clanse. Lender �' < ; . <
<br /> � :� shall itave the right to hold the policits and renearals.If Lender reqaires.Borrower shall P�P�Y Srye to Lender all receipts nf � ::' <•
<br />-- .. `� paid pceimiums and renewal notices.In the event of loss.Bonower shall give pmmpt natice to the insarauce cazrier and I.ender. � • l � . ".:`. '
<br /> . •. (,ender may auake pmof of loss if aot made pmmgilY bS►Boirower. . :
<br /> '` • Udess I.ender and Botrower otheiwise agree in writing,insarance pmceeds shaU be applied Eo restaration or repair o f t he . .
<br /> . . -� Property damaged,if the restoradon or repais is economically feas�'ble and I.ender's secvritq is not tessened.If dte restorarion or '�._ �..
<br /> .� � repair is not ecaaamicallY feas�'ble or Lender's security wonid be lessened.the insuiance proceeds shall be applied to the sams ; .�,
<br /> ` secnied b y diis Secarity Insh�metu. whether or not then dae. with any eascess paid to Borrower. If Botmwer abaadons tflc '._ •`,�a
<br /> ., Property.or does nnt ansq+er within 30 daqs a�tice from Lender that the iun_*a�canier has offered W seWe a claim,then . j
<br /> - l.ender may calle�t the iusu�aace pmceeds. l.ender may use the pmceeds to repair or ieswre the Property or to pay smms .. .,'�', "
<br /> secvted by tbis Securiry Insdnrment,whether or not then dae.The 30-daq periad w�l begin when the notice is givea
<br /> - , - Unless Leader and Bomnwer othe:wise agree in writinS. �Y aPPlication of pmceeJs m principal shall nat extend or : ,�;
<br /> . : _ , postpone the due date of the monthly payments s�efemd to in paragtaphs 1 and 2 or change the amount of the paymen�s.If under . :_ ,.�'.
<br /> , paiagmph 21 the Ptuperty is acquited by Leader. Borrower's right to any instuance policies and proceeds cesuldug fram � —
<br /> . , -� damage to the ProP�Y Prior to the acquisition shaU pass w Lender ro the extens of the sams se�,vred by tlus SeaQity L9st�ament �_ T.=
<br /> - ,= imme�;arP�y prior to the acquisidon. {'�''.
<br /> ' 6.Occupan�9.Prese+va4ion,Mairrtenance and Protedion of the Property;Borrawds Loaa Apr,p}icalton;I.easr8oltls. }.�'`
<br /> �; � Bomawer shaU occaPY,establish,and use the Prapelty as Borrower's pzincipal residence arithin sixty days after the eaecution of ; '� �'.
<br /> - . .� � tbis Secuti I�tmm�ent and sball contimie to occupY��P�Y as Boimwer's principal nesidence for ai teast one year after �.�. '�'� ':f_"
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<br /> : . the date of acaipancy,unless I.endes othetwise agmes in writing,wluch consent sbaU not be unreasonably withheld,ar nn�ess , c?�• �;�w
<br /> �' � extenuatin8 citaumstances eaist which ate beyond Borrower's controL Borrower shall not d�tmy, damage or impair the ��`:'"�__ ..
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<br /> ' ' .% pmPertp.allovr the Property to deceriorate,or commit waste on tlze Prnperty. Baaower shaU be in ci�.fanit if any forfeiture . ' '�}._--�., -
<br /> , . . aaron or gmceeding,whether civt�or ciimiffi1.is begun[hac in Leuder's good faith judgment could result in farfeitnre of ihe . „ ;{_'�-��
<br /> Pioperty or otherwise materially impair the lien created by this Secucity Instmment or L.ender's security interesG Borrower maq `{'�'' ";;,�r,:
<br /> care sach a default and reinstate.as provided in pardgrapv 18.by cansing the acdon or proceeding to be di�nissed with a niling <:�:.' ; '�.t-: ..
<br /> � � that, in I.ender's gnod faith detetmination, precludes forfeitmre of the Bormwer's interest in the Property or other material , .":,:�_
<br /> • impaizment of the lien crrdted by tbis Secuciry Insaument or L�ader's secairitq interest. Borrower s39all atso be in defanit if - ; .�
<br /> ' . . Bormwer.dut�ng the loan applicadon pmcess.Save materially false or inaccarate informarion or statements to Lender(or failed �� ..'_'�.�°:
<br /> ' ��: .. �._.....
<br /> w pmvide L.ender with any material iafom�arion)in connection with the loan evidenced by the Note,inclading,6ut not limited -' •; � .r«�,
<br /> - •� to,representations conceming Bonower's occupancy of the Property as a principal residence.If this Security Iastr�ent is on a � . , , ��:
<br /> � teasehold. Borrower shall comply arith ail the pmvisions of the lease. If Borrower acquir�s fee dde to the Property, the , ,. `'•�
<br /> �,. � leasehold aad the fee 6de sball not merge unless Lender agcees to the merger in writing. , � :"-X'-
<br /> � • ' 7.Protectton of Lender's lilgtits in the Property.If Borrower fails to perfotm the coves�ants and agreements contai�d in ' ' . �'�':n
<br /> .�� this Secari[y Instcument, or there is a Iegal proceeding ti�at may signific�ntly affect Lewder's dghts in the Property(such as a ,. . � ���
<br /> pmceeding in bankzuptcy.probare. for condemnadon or forfeitare or to enforce taws or teguladons).then Lender may do and . �� �___
<br /> . . � pay for whatever ls necessary to proce.ct the value of the Property and I.ender's rights in We Property. Lender's actions may .. .�._.,�:
<br /> � include paying any sams secareA by a lien which has pdoriry over this Security Insuument. appearing in court, paYinB . ..
<br /> , reasonable attor�ys'fees and entering on the Pmperty to make iepairs.Although Lender may take action under this paragraph . . -
<br /> 7.Lender does not l�ave to do so. , ' � '
<br /> Any amounts disbursed by Ixnder under tLis paragraph 9 sha11 become addidonal debt of Borrower secured by tbis � • ,
<br /> ' ' � � Security Irrsuument. iJntess Borrowec and l.ender agree to other terms of payment.these amounts shall bear interest from the , ,
<br /> .. date of disbursement at the Note rate and shall 6e payable, with interest, npon notice from Lender to Borrower requesang �: . . .
<br /> payment. .- .
<br /> S.Mostgage Ins�n�ance. If Lender reguirecl mortgage iasurance as a condition of malting the loan secured by this Se�vrity
<br /> � Insuument. Borrower shall pay the premiums tequired t�maintain the mortgage insurance in effect. If, for any reason, the .
<br /> � mortgage insuraace coverage requireA by Lender lapses or ceases to be in effect.Bonower shall pay the premiums requited to : .. . ' •
<br /> • . � ,• obtain coverage substaadally equivalent to the mortgage insurance previously In effect.at a cost substandally equivaleat to the .
<br /> 1 cost to Borrower of the mort�e iasurance previously in effect, from an altemate mortga�e iasurer approved by Lender. If .
<br /> ' , � su6stantialiy equivalent monsase insurance coverage is uot available.Borrower shaU pay to Lender each month a sum equal w � , :
<br /> on�twelftli of the yearly mortgage insurance premium being paid by Bonower when che insurance coverage lapsed or ceased to . .
<br /> � be in effect. Lender will accept.use and retain these payments as a loss resetve in lieu of mortgage insutance. Loss resenre ,. .
<br /> :r,� � �� Form3028 9l90 '
<br /> � 1 ��8R(NE1 ts2ts�.o� �age 3 of 6 m�um��� V . '
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