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<br />- • . ' S. Ha�aral or Prop�rty Iasnrance- Botrower shall keep the improvements uow existing or hereafter erected on the �` `o � � `
<br /> � . . Pcoperty insured against loss by fire.iiaTards included witlun the term "exteaded ooverage" and any other hazards. including i�� ' '�` �
<br /> �, ' � '� floods or flooding.for which L.erWer requires iacurance. This insurance shall be maintained in the amounu and for the petiods(g , ;��� : .�
<br /> ' :��.: ( .'. • ! ,''.:r��.`�
<br /> that Lender requires.The insarance rarrier provid�n8 the ias�ua�e shall be chosen by Borrower subject to Lendei s appioval� -
<br /> � .�. .��"""� which shal! not 6e nnreasonably withheld. If Borrower faiis to main ain �verage descnbed above, l.ender may, at L.ender s� b �` 't� ',``� .�
<br /> � _ ' option.obtain ooverage w pmtect Lender s rights in the Pmperty in ar,cordance with paragraph 7-
<br /> �� `��- P�ll insurance policies and renewals shall 6e acceptabte ta I.estder 3nd shall incl�de a standard mortgage clause. Lender� - =u
<br /> � - s � ,
<br /> 4 `.' s h a l l h a v e t h e ri g fi t t o h o t d t h e p o li c i e s a n d r e n e w a l s.I F L ender r e g uires,Borrower st�all promp t t y give to L e n d er a l l r e ce i p t s of� - ., �,
<br /> p a id premiums and ienewal notices.]n the eve�of loss.Borrower shall give prompt notice to the iasurance rarrier and Lender. �.- { �, .
<br /> . ..�� Lxndes may make proof of loss if not made promptly by Eorrower. Q= �• � � "'�'
<br />- .: . . _ .- ,'' IJnless Lender and Borrower otherwise agnee in writing.insorance pmoeeds shall be applied to restotation or repair of the . - .._.
<br /> property damage�,if the restoration or nepair is economically feasible and Lender's seciuity is not tessened. If the restoration or �._..;�_
<br /> , :� • � repair is not economically frasible or Lender s securiry would be tessened,tiie iasurance proceeds shall6e applied to the sums _,,�K..<'`",-
<br /> " • -`°3 secured by this Security Insmiment,ahether or not then due, arith any excess paid to Borrower. If Borrower abandons the ., < .�`�—
<br /> ._. .—
<br /> • Pmperty.or does nat answer within 30 days a notice firom Lender that the insurance carrier has offered to settle a ctaim,then —
<br /> ' Leuder may vollect the insutance praceeds. Lencter may nse the proceeds to repair or restore the Propercy or to pay sums --
<br /> `- secured by this Security Instrument,whether or not tUen due.The 30�day periad will begin when the notice is given. � `. _
<br /> • ° � �.�' UWess i.ender and Borrower otherwise agree in writing. auy appliption of pmceeds to principal shall aot extend or , ,_ F:_ �`.
<br /> ��:: :' � ;_« postpone the due date of the monthly paysnents referred to in paragraghs 1 and 2 or change the amount of the paymenu. If • , _ �_ _
<br /> . , �',� under paragcaph 21 the Property is acquired by Lender. Borrower's right to any insurance policies and proceeds tesulting frum �,,; �'�. ;�:�,��.
<br /> • •� i;� damage to the Properry prior to the acquisition shall pacs to I.ender w tl�e extent of the sums secured by this Security Insarumem 'y" __�
<br /> •;� immediately prior to the acquisition. f ti :.. --
<br /> . . ` 6.OcarPaney,Prese r v a t ton,M a i Menance an d P r o t e d l o n o f t h e P r o p e r t Y;B o r r o w e r's L o a n A p p l�c a t i o n,I x a s e h o l d s. ��' ��.
<br /> � �� 'I' . �
<br /> • B o r r o w e r s h a l!o c c u p y,e s t ablish.and use the Pro p e r t y as Bor�ower's principal residence within sixty days after the execution of ��°`�•4;�� -"v'�
<br /> � � �.# this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year a ft e r � ''-°T �
<br /> ���� • . � :"�� We date of oocupancy,unless Lender otherwise a�in writing.whic6 consem shail not be unreasonably withheld.or unless .�•�-:. � �
<br /> � ` L== ext6nuating circumstances exist which are beyond Borrower's conuol. Borrower shaU aot destroy, damage or impair tbe •
<br /> ``e-.• '�
<br /> ` �� Property, aliow the Property to deteriorate. or corrunit waste on the Property. Borrower shall be in default if any forfeitune •`'`__�
<br /> - -�•��� � , ---.
<br /> " �� , ",�:;;f;. action or proceeding,whether civil or criminal,is begnn that in l.ender's good faith judgment coutd result in fodeiture af the _
<br /> -;:•� Property or otherwise materially impair the lien created by this Secvrity Insuument or Lender's security interest.Borrower tnay '
<br /> ��r, cure such a default�md reinstate,as provided in paragraph 18.by causing the action or proceeding to be dismissed with a ruling , .,,�,:��:
<br /> � ` that, in Lender's good faith determination, prectudes fort'eitnre of the Borrower s interest in the Property or other material � :��;_
<br /> ' � ,'� impairment of the lien cr�by this Security Insuument ar Lender's seca�rity interesG Borrower shall also be in default if � :�-�-
<br /> � � _-..' . .. .�.T:�.�s�ar_.._
<br /> � , ,. �: Botrower,during the loan application process,gave materiafiy false or inaccurate inforn�ation or statements to I.ender(or fmled . : `�___
<br /> `'"�" � � � to provtde Lender with aay material inforaiation)in conneciion wiih the loan evidenced!ry the Note,including.but not limited . �__
<br /> � �. ':'i to,representarions conceming Borrower's accupancy of the Property as a principal residence.If this Security Instrument is on a r.' . v".
<br /> �• ' .''� leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee utle to the Property, the .•.� ......-�;-����=�
<br /> leasehold and the fee title shall not merge untess Lender agrees to the merger in writing. �"'
<br /> � � � �� ?.Protettion of Lendes's Rights in the Property.If Borrower fails to perform the wvenants and agreements contained in . �_�,_
<br /> • � � this Security Instrument. or there is a legal proceeding that may significandy affect Lender's ri�hts in the Property(such as a
<br /> � � proceeding in baniwptcy.probate.for condemnation or forfeiture or to enforce laws or reguladons),then Lender may do and :�
<br /> '�. � pay for whatever is necessary to protect the value of the Property and l.ender's rights in the Property. Lender's actions may � ;;��_; � _�_
<br /> _.. include paying any sums setured by a lien which has priarity over tfiis Sec,urity Instrument. appearing in wurt. paying •%�' `�'�:
<br /> .i_#r.'�-
<br /> . , reasanable attorneys'fees and entering on the Property to make repairs.Although Lender may take action under this paragraph . .
<br /> �. � �. ' 7,Lender does not have to do so. . ' • ? ��
<br /> "''�� Any amounu disbursed by Lender under this paragraph 7 shall become additional debt of Bonower secuted by this • -
<br /> ' � ' Security Instmment. Unless Borrower and Lender agree to other tcrms of payment.these amuunts shall bear interest from the ,. •
<br /> * • date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requating , . , _
<br /> � • payment. � . .
<br /> ' • S.Mortgage Iasurance.If Lender required mortgage insurance as a condition of making the loan secured by this Security � ,
<br /> • lnstrument, Borrower shall pay the premiums requircd to maintain the mortgage insurancc in effect. If, fur any reason, the .
<br /> � ' mortgage insurance coverage required by Lender lapses or ceases to be in effect,Bonower shall pay the pmmiums required to , ,
<br /> • • �� obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the . .
<br /> ' wst to Borrower of the martgage insurance previously in effect, from an altemate man�age insurer approved by Lender. lf ,.•
<br /> � � sab�tantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each manth a sum equal to , . -
<br /> ' � one-twclfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed ar ceased to : . ,
<br /> . ' be in effect.Lender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve � �
<br /> - .. Form 3028 9190 .
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