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<br /> � � 9�— i���b �.;-o�� � � � �
<br /> . 5. Hazard or Property Insu�auce• Borrower shall keep the improcements now existing or hereafter erected on the - <, ".',
<br /> ` € Propeny insured against loss by fire. hazards intluded within the term "extended covera;e" and any other ha�ards, inctuding ;:} ..- :L � '�.
<br /> . ` flaads or t lo o ding. for w hi c h L e e d e r r e q u i r e s i n s u r a n c e."t�is irKUrance shall be maintained in the amourts ar►d for the periods i ` :
<br /> • � u�_.-:,� t1�at Lender requires.The insurance carrier providing the insurance shat!be chosen by Borrower subject to L en der's appro v a l
<br /> which shall not be unreasonabiy �vithheld. If Borrowcr fails to ►naintain cocecage described above. l.ender may. at Lender s
<br /> - - -- option.obtain coverage to protect Lender s rights in the PropertY in acc°rdance with paragraph 7- � ,. . _. _- _
<br /> ' � , All insurance po�icies and renewats shall be accePtable to Lender and shall include a standard mortgage cl�use. Leuder
<br /> _ . '.; shall have the right to hold the policies anderee t�loss.Borro e rs�hali,gi r prompt nori�ro o the gnsurance nca*rler�and Le der. , , . " :
<br /> .t paid Premiums and renewal notices.In the .��,.L;'..,F...;:-::
<br /> � I.ender may make proof of loss if not made promptty by Bnrrower. . ,
<br /> � Unless L.ender aad Borrower otherwise agree�n wriang.insurance proceeds shall be applied to restoration or repair of the _
<br />, , , t - propert}r damaged,if the restaration or repair is eronomically feasible and Lender s security is noi lessened.If the�estomuon or . _��``-
<br /> ` ` . . ` repair is not economically feasible or Lender's security would be lessened, the insurance proceeas sha11 be applied to the sums �n� :, ;
<br /> ' Instrument, whether or not then due. with any excess paid to Borrower. If Borrower abandons the .t ;
<br /> secured by this Security
<br /> ;.;�...._._,
<br /> '. . . � . Propeny.or does not answer within 30 days a notice fram Lender that the insursnce carrier has offered to settle a claim,then •.;:.��:,-. c��,,
<br /> ' Lender may collect ihe iacarance pruceeds. Lender may use the proceeds to repair or reswre the Property or to pay sums ': '� -W
<br />- � , � secured by this Securiry Instrument,whether or not then due.The 34day period will begin when the notice is given. . ; 1._�,__
<br /> ��ia-
<br /> - Unless I.ender and Borrawer otherurisr �a== '-n w�+Tin�. am applirateon of proceeds to princ�Pal shall not extena or ,,�- —
<br /> � postpone the due date of the monthly payments refecred to in P�uaSraPhs � and 2 or change the amount of the payments- If 3 '` ' -�,
<br />__ ... �•:.:.; under paragraph 21 the Property is acquired by Lender.Borrower's right tn any insurance policies and praceeds resulting from . , � ��:
<br /> .:.. .
<br />. .. ._. .._:...; _ _
<br /> • � �= damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Uutniment ., ��,
<br /> � ' • �" � immediately prior tothe acquisition. ; ,ti, ��
<br /> P rlY+ PP � ��"��- .,
<br />-' ��� l�taintenaace and Protect�on of the Pro e Borruwer's Loan A licution;Leaseholds•
<br /> - i 6.Occupancy.Preservation. ��;..;=;`'
<br /> , *_.•
<br />-_ . . _.,..,,,� Boaower shaQ occupy.establish,and use the Propeny as Borrower's principal residence within sixty days after the execution of ,}�- _�-
<br /> � �• � this Securicy Instrument and+hall continue to accupy the Property�.�Borrower's principal res+dence for at least one year after „ �_�,=
<br /> ��.�,,,�,_
<br /> the date of accupancy, unle�Lender athecwi�e agrees in writing. which consent shall not be unreasonably withheld,or unless _
<br /> ,. � extenuating circumstance+exist which are beyond Bartower's cunirol. Borrower �hall not destroy, damage or impair the ��:.`..;�.'
<br /> ••{1-- -
<br /> •� � . .•,':} Property. allaw the Property ta dcteriorate. or cammit waste on thc Pcoperty. Bunower +I�aSI bc in default if any forfeiwre ' ��4.
<br /> • action or praceedins. �vhether civil ar criminai. is begun that in Lender's good faith jud�ment could result in forfeiture uf the '+.-_�a.:
<br />- � `: �� Propeny or othenvise muterial4y impair the lien created by thi.r Security In+tcument or Lender'.r yecurity interest.Barrower may i�,�,�.
<br /> cure su�h a default anJ reinstate.:u provided in paragraph i S,by cautiing!he ac[ion or pracc;eding[o be dismissed with a culing :; .;�";�.
<br /> � � recludes forfeiture oi the Borrower's intcrest in the Property or other material ;��'�'r
<br /> • . that. in Lender's goad faith determination, p � F��
<br /> impairment of the lien created by this Security Tnstrument or Lender's securiry interest. Borrower shall also be in default if .-.� _
<br /> . _ ..•:., . ... „, _
<br /> , °- Borrower.during the loan application pracess.gave materially false or inaccurace in formation or statements to l.ender(or failed ;._:��.�.
<br /> . ` to provide I.ender with any materia!information>in conuection witn the loan evidenced by the Note,including,but nat limited + �t�—,Y,._
<br /> � � to,representations conceming Borrawer's occupancy of the Property as a principal residence.If this Security Insttumeat is on a ;�r(
<br /> � ' leasehold. Borrower shall comply with all the provisions of the lease. lf Bonower acquires fee title to the Properry. tlie ��
<br />� • lepsehold vid the fee title shall nat merge unle�s Lender agrees to the mer$er in writing. . . �_=
<br /> • . � 7.Protection of Lender's Rights in the Property.If Bonower fails to perform the cavenants and agreemenu contained in . • :�r__.
<br /> :.�:
<br /> � " this Security lnstrument.or there is a lega! proceedinb that may signifcantly affect l.ender's rights in the Property (such as a ,� �� _�
<br /> � � praceeQing in bankruptcy.probate. for condemnation or forfeiture or to enforce laws or regulations).then I.ender may do and � ,��M
<br /> . .��� pay for whatever is neccssary to protect the value of the Property and [.ender's rights in the Property. Lender's ucti0ns may ` __
<br /> � • ' ''� include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying �, `��::`.:`(;•'
<br /> ' reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may takc action under this paragraph
<br /> �° 7,l.ender does not have to do so. ' . . •
<br /> , ' Any amaunts ditibursed by Lcnder under this paragraph ? shall become additional debt ot' Borrower sccured by this
<br /> • Security la�trument. Unle+s N tc r tc and hall bc�r►eablc t with in crestp up nnnoth cefr muLender't bBorrowersreyuesting t ,� ,.'•
<br /> . ' date of disbunement st the P�Y � • ..
<br /> . . ` payment. .
<br /> ' � .. �. 8, l�lnrt�a�e lnsurnnce.lf Lender reyuirecl mortgage insurance as a condition of making the loan sceured by this Security ,., �
<br /> �i lnstrument. Barrower ahall pay ihc prcmiums rcquired to maintain the mortgage insurance in cffect. li'. far any reason, the
<br /> : � mortgage intiurance eoverage tequirecl by Lender lapses or craties to be in effect. Borrower shall pay the premiums required to
<br /> � � obtain c�verage�ubstantially equivalem to the mortgage insurance pteviously in effect.at a cost substantially eyuivalent to the .
<br /> � cust to Bc�nower of the mortgage imurance previuutily in effect. ftom an alternate mortgage insuret apprnved by Lender. If ,
<br /> ' • subtitantially eNuivatent mortbage insurance coverage is n�n availablc.Aarruwcr shaU pay to Lcnder cuch month a sum cqual to .
<br /> • unc•�welf'th nf the yearly mortgagc in�urance prcmium bcin�paid by Borrowcr when the in�urance coverage laptied or ceased ta
<br /> �. he in effect.l.ender�vill acccpt. u+e and retain th�wc payments a+ a I��ss reterve in lieu of mortgage inwrance. Losr re�erve
<br /> • Farm 3028 9190
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