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<br /> �� ` �.t{ 5. Hazard os Pro�erty Insuranse. Bosower shall kecp the improvemenu � e g S� ..� . .
<br /> � .. Aroperty insured asaeast toss hy fire.l�azards ineluded within the tecm °extended coverage"and any other ha7ards. indading � . �•��=�'`
<br /> `�; �:� :���' �:` floods or tloading.for which IxnQer reyuires insurance.'C�is insucunce sh�l be maintained in the atnotusts aad for the periads '< <,,` ;• :' '
<br /> .����:.
<br /> `' tt�at I.ender requires. 't7�e insurance carrier providing the insurance shalt 6e chosen by Borrower subject to i.ender's appmvat , .
<br /> �•• �� .`. • � which shall not be unmasonabty withheld. If Borrower fails to maintnin caverage descisbed above. lxnder may.at l.ender's :.���,"`
<br /> . ' .: ,�_:, optian.obtain rnverage ta protect I.ender s rights in the Propetty in accordance witb paraP,raph 7. _ . . � ,`.�,�;� .
<br /> ` '��'.`` ` • pU insutance policies and renewals shall be acceptable to Lender and shall includ�a standard �nort�age clause. i.ender x '
<br /> _-�._ - -- -- -
<br /> ;- �^_.,�_�'-'�., P mF Y P� ,°
<br /> sLall have the right to hold the pvlicies and renewats. If Ixnder requires.Borrower shal} ro tl ve to Lcndcr al1 seceiPu af . .
<br /> ,.`. � patd premiams and renewal notices.In che event of loss.Borrower shall give prompt nodce to the insvrance carrier and Lender. � .. �:��•` �
<br /> � ��:_:,:
<br /> ... Lendu may make praof of loss if not made pmmptly by Borrower. , , -:,. ,�:-
<br /> � , [Tntess Lertder and Bormwer otherwise agree in wridag,insutance proceeds sha)1 be applied w restoration or repair of the `�;�,`
<br /> � �. p r ope c t y d a m a ged.if the restoratton or repair is ecanomicatly feasible aad Lender's security is�lessened.lf the restoration or ��:'.�• .. � ,
<br /> ,:�_: '. ;,^._,......_-...
<br /> repair is not economicaliy feasible or Lender's security would bc lessaned.the insarance prac�s shall be applied w tl�ee sums �t - �,
<br /> ' � ��.� S��5y�his gecurity Insmunept,whether or not then due,wlih any excess paid w Borrower. if Borrower ahandons the __ ��
<br /> , . , `. .. Froperty,or does not answer within 30 days a notice from Lender that the iissurance carrier has offered to settfe a claim,then "°� .�.__
<br /> � - � ' Lender may callect the insurance proceeds. Leader may use tke proceeds to repair or restore the Property or to pay sums ,;� ` - --
<br /> Secumd by tfiis Security Instrument.whether or not ehen dus.The 3Q-day periad will begin when the notice is given. ,�.: .
<br /> � .`:�` Unless L.ender and Borrower otherwise agree in writing, anY aPPlicatian of proceeds to principal shall not excend or .. `
<br /> L �'.��< postpoae the d¢e date of the mont6ly paymenu nferral to in paragraphs 1 and 2 or change the amount of the payments.If • `
<br /> . ' : �`r �nder h 21 the �s a uired b Lender,Horrower's rigbt to any insurance poiicies and pmceeds resuiting fmm
<br /> ' P�B�P �Y «1 Y Insuument �,� � °:-
<br /> � - damage to the Property prior to the acqnisition sl�all pass to Lender to the extent of the sums secured by this Securiry , .. _
<br /> —;— immediately prior to the acquisidon. �
<br /> ...,r��•._ �sn
<br /> • 6,pccnpancy,Prc�YrvatIon,Main4enance aad Protectton of the Property;Borrnwer's Loan Application;Lease4toids.
<br /> Borrower shall accupy.establish,and use the Property a4 Borrawer's principal residence within sixty daYs after the execut[on of �
<br /> .. . • " this Security Insuument and shall cor►rinue to occupy the Property as Borrower's principal residence for at least one yeas after - r�_:=.:-�
<br /> ; ; `',�'�t�.
<br />.•���•---.- .• -• - the date of occupancy.�nless 1.euder otherwise agre�in writing.which consent shall aat be unreasonabiy withheld.or unless ;, � '
<br /> �V� entenuating ciremnstanees exin which are beyond Bonower's control. Borrowcr shall not destcoy. danlage or impair tke ^�-�.,� _
<br /> : �,..: •'�_� -
<br /> . . properry.allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if atry,forfeiture --
<br /> � ' . • action or proceeding,whether civil or criminal,is begun that in Lender's good faith judgmeat could result in forfeiture of the . _ ____
<br /> i � ' Property or otherwise macerially impair the lien created by this Security Insarument or L.ender's security interes�Bosrower may „ �.—_-
<br /> '''' � �� •� cure such a default and reinstate.as provided in par�araph 18.by causing the acuon or proceeding to be dismissed with a rutiag _ _ �
<br /> � ihat, in Lender's good faith determination, preclu�es forfeimre of the Borrower s interest in the Property or other matetial •-�= -
<br /> . ., •.. ' ' � impair�rtent of the tien creaced by this Security Instrument or i.ender's securiry interest. Bonower shall atso be in default if •.y��.
<br />= , �� - Baaower,during the loan applicatioa process.gave materially false or inaccurate information or staternenu to I.ender(or failed
<br />:•� `__, to provide Lender with any materiat information)in connection��ith the loan evidenced by the Note.including,but not Ijmited ��i`_
<br /> . � � to. representarions conceming Borrower's occupancy of the Properey as a principal residence.If d►is SecucitY lnsttument is on a °°Jr.�
<br /> � � leasehold. Borrower shall wmply with all the provisions of the lease. If Borrower acquires fee tide to the Property,the _ _ ��r:,�y
<br /> leasehold and the fee ritle shall not merge unless Lender agrees to the merger in writing. . �'��=
<br /> ��=.
<br /> . ' • • 7.P►btectIoa of Lender's Rights in the Propesty.If Borrower fails to perform the wvenants and agreements contained fn . �_,_._
<br /> '. . :',�_.
<br /> �,,� this Security Instrument. ar there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a ._
<br />_ ..� • proceeding in bankruptcy.probate,for condemnation or forfeiture or to enforce laws or regulations).then Lender may do and . •�U.�:` � ._
<br /> •. �� � pay for whatever is necessary to protect the value of the Property and Lender s rights in the Property. L.ender's actions may _ , __
<br /> '+`' .� . �` " � include paying any sums secured by a lien which has priority over this Securiry Instrument, appearing in canrt, paying _ ._
<br /> �� : � ��� � reasonable attorneys'fees and entering on the Property to make mpairs• Although L.ender may take action under tlus parag�ph .. _�:�
<br /> ' •' . 7. Lertder does not have to do so. "� ���
<br /> , � • � Any amoun�s disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured 6y this ""�°
<br /> � � - Security Instrument. lJnless Borrower and Lender agree to other terms of payment.these amounts shall bear intcrest from the —
<br /> date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requesting � ;.. .
<br /> . . � . -: payment. � � � �
<br /> ' $.Martgage It�surance.If Lender reqoired mortgage insurance as a condition of making the laan secured by this 5ecurity . .
<br /> - � Instrument. Bonower shall pay the premiums required to maintain the mortgage insurance in effect. if. far any reason,the • . ��. ;,.�
<br /> ' � mortgage insurance coverage required by I..ender{apses or ceases to be in effect. Bonower shall pay the premiums required to .
<br /> ' . � � obtain coverage substantially equivalent to the mortgage insurance previously in effect.at a cost substantially equivalera to the
<br /> �'�.", cost to Bonower of the mortgage insurance previously in effect, fram an altemate mortgage insurer approved by Lender. If . ,.
<br /> ,� .. • . � substantially equivalent mortgage insurance covera�e is not available.Borrower shall pay to Lender each montb a sum equgl to .
<br /> .' " • on�twelfth of the yearty mortgage insurance premium being paid by Bonower when the insurance coverage lapsed or ceased to
<br /> . „ be in effect. Lender will accept,use and retain these payments as a toss reserve in lieu of mortgage insurance. Loss reserve ,.
<br /> .' . Form 3Q28 9l90 . -
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