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<br /> • . . 5.Hazard or Pro erty Iasawance. Borrower shall kcep the impmvemenu now existing or hereafter erec[ed on ihe Property r
<br /> . P ��}.. -�
<br /> �_ • � insured against loss by fue,bazards included within the term "ezcended wverage" and any other hazards, uictuding fioads or �.-f' .
<br /> . __ tTooding,for which Lcnder r�,quires insurance.This insurance shall bc maintained in the amounts and for thc periods that Lender �
<br /> - - ��=`� requires.The insuranee carrie�provid'u�g the insurance shall be chosen by Borrower subject to[.ender's approval which shall not ; • -`
<br /> � u�' "� 6e unreasonably withheld. Ii Borrowcr fails w maintain covesage described above. Lender rnay, at Lender's option, obtain . 4 �'� .
<br /> ` coverage ta protect l.ender's rights m the Property in accordance with paiag�aph?. . � �
<br /> , ,; .-
<br /> , � �. ' .. AIl insurance policies and renewals shall be acceptable to L.euder and shaU include a standard mortgage clause.I.ender shall � -
<br /> . have the right w ho2d the policies and reaewals.If Lendu requires.Bonower sb.all Qmmptly give to Lender all receipts of paid� _ _ .y _:-
<br /> � :r • � .'�,� � premiums and renewa!notices.In the event of lass,Borrower shall Sive prompt notice tn the insurance cxcrier and Lender.Lender� , ,_ .�
<br /> • may malcc proof of loss if not made prompUy by Botrowcr. � �: '` ' �. ;••",
<br /> . . UNess Lender and Barrower otherwise agrce in writing,insurance pmceeds shall bc applied to restnratinn or repair of the � ., , ; '':a�"�`'
<br /> .,. � pi,nperty damaged,if the restnration or repair is econoaucaUy feasi'ble and Lender's security is aot 2essened.If the restntalion ar � �^���"
<br /> au �
<br /> : . . repair is not economicully feasibte or Lender's secarity would be lessened,tde insurance pma�ds shall be aPPlied W the sums � Z ��
<br /> ` � . • , secured by tbis Securiry Instrument, whether ar aot then dae, with any access paid to Borrower. If Borrower abandons ihe . ,�:�.:
<br /> ' Pro{ •cty,or�'�eti noi an>�aer within 30 days a notice from Lender that the insurance carrier has offered to seWe.a elaim.tiien �� __�.•.
<br /> e.
<br /> �. Lender may collect the uu4.ance proceeds.L.cnder may u�e the procteds to repair or restore the Property or w pay sums secured . .' •;'`'°-•_
<br /> . ' by[his Secvrity Insuumcnt,whether or not thcn duc.Tbc 30-day period wil!bcgin when thc notice is given. � „�;:_,.
<br /> Untess l.ender and Borrower otherwise agree in writing.any application of pracceds to principal shall not extend or postpone • ���f:.�:�_=_
<br /> - . � the due date of[he monthty payments refcrrcd to in paragraphs 1 and 2 or ci�ange the amount of the payments.If under paragraph __ -_ ;_=a,
<br />� .�i 21 We Property is acquired by L.ender.Borrower's right to any insurance policies and praceeds resulting from damage to the • �",�'—
<br /> . Property prior to the acquis9uon shall pa4s w Lender w the extent of the sums securetl try ti�is Security Instrument immediately • ` , -
<br /> ••c . ��—
<br /> prior w the acquisiuon '
<br /> s. ..�.:�,.�::
<br /> _, ,� . . 6.Occupanry,Preservation,Maintenance and Protedion af We Praperty; Bosrower's Loan AppGcation;Leaseholds. ., i a;==�
<br /> ° .- Borrower shall occupy,establish,and use the Property as Borrower's principal residence wittiin sucty days after the execution of __ - , :� _�
<br /> ;:.:•�._�`•`-
<br /> � tftis Security Instrument and shall cantinue to occupy thc Propeny as Borrowcr's principal residence for at lcast.oae year after the • . : _ _i.
<br /> � � ' date of occupancy. unles.� Lendec otherwise agrees in wriang, which consent shall not be unreasoaably withheld, oc unless . :'���
<br /> extcnuatin�circumsianccs eaist whict►arc beyond Borrowcr's convol.Borrawer shall not dcstroy,damage or impair thc Property, •�� �-"=-"�
<br /> •! � � allow the Pcapcny to dctcriotatc,or commit waste on thc Proper[y. Borrower shall be i» dcfauli if any fprfciuue actian or •:;;t�:: _ __
<br /> � • procecding,whether civil or criminal,is begun that in Leader's goad faith judgment could result in forfeiture of ihe Property or ..' • : -r�_
<br /> o�horwise matetially impair ihe lien created by this Security Instiument or Lender's security interest.Borrower may cure such a . � —
<br /> � detault and reinstate.as provided in paragaph 18.by causing the action or proceeding to be dismissed with a ruling that,in • � .±. •'�•-�
<br /> � � � Lcndcr's good taith detcrmination,presludes ForFciuuc of thc Borrower's interest in thc Property or othcr material impairmcnt of � ;°:U _-
<br /> ���� �� the lien created by this Securiry Insuument ar Lender's security interes�.Borrower shall also be in default if Borrawes,duriag the � �;�,�_
<br /> • . loan application process.gave materially fatse or inaccurate iaformation or statements to Lender(or failed to provide Lender with .���';�a.'
<br />-. �'� ' any material informadon) in connecdon wi�h the loan evidenced by the Note,including, but not Gmited co, representations . °: -_
<br /> � � conceming Borrower's occupancy of�he Property as a principal residence.lf this Security Instrument is on a leasehold,Boaower . ='��`
<br /> � , shall wmply with all dic provisions of the lcrosc.If Borrower acquires fce atic to the Property,tha teaschold xnd!he fee dtle shatl ;�`�'�
<br /> ' not merge unlcss Lcndcr agcces to thc mcrgcr in writing. . '`�.
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<br /> • 7.Protection of Lender's Rights in the Property. If Borrower fails to perform thc covenants and agrcemenis c:ontainetl in ��,,.,
<br /> ����:�,��
<br /> . this Sccuriry Inswmcnt, ur there is a tegal pracccding that may signiGc.anUy affect Lcndcr's rights in�he Property (such as a • :'-'�'�
<br /> '' � praceedin�in bankruptcy,probate,for candemnauon ur lorfeiture or to enforce laws or regulauons),thea Lender may do and pay .. . .
<br /> � for whatcver is neeessary co protect the v;ilue of�he 1'roperty and Lender's rights in�he Pcopeny. Lender's actions may include
<br /> �`F �� � paying any sums sccurcd by a licn which has priority ovcr �his Sccurity Inswmcnt, appcaring in wun. paying rcasonable ..
<br /> • ' auomcys' fccs and cntcring on thc Property to makc rcpairs.Although L.cndcr may takc acuon undcr this paragraph 7,Lcndcr � . , -:
<br /> docs not havc co do so. • ,
<br /> , � Any amounts disbursed by Lender under ihis paragraph 7 shall become addilional debt of Horrower secured by this Security . • • :
<br /> InsvumcnG Unless Borrawcr and Lcndcr agrce to othcr tcrms af payment,ihcsc amounts shall bear intcrest from the date of� ,_
<br /> disbursement sst the Nntc ratc and shall 6e payablc,with interest,upon noucc from Lendcr to Borrower requcsting payment �-
<br /> � S.Mortg�ge Insurance. If Lcnder rcqu'ucd mortgage insurancc as a condition of making thc loan sccurcd by this Scc;urity � .
<br /> � Insuumcn4 Borrowcr shull pay thc prcmiums rcyuircd to mainiain thc mortgagc insurancc in effccl. li, [or any rcason. thc , .
<br /> ' � . mortg�gc insurancc covcragc rcyuircd by Lcndcr lapscs or ccascs to bc in cifcct,Borrowcr sh�ill pay thc prcmiums rcquucd to �. •
<br /> � abtain covcrabc substanually cyuivalcnt to thc mortgagc insuruncc prcviously in cffcct,at a cost substantially cquivalent w thc _ , , � .
<br /> � cost to Bonower of ihe mortgage insurance pteviously in effect. from an aliemate mortgabe insurer approved by Lender. If � :
<br /> . . . . � substantially cquiv�tcnt inongagc insurancc covcragc is not;�vailablc,Borrowcr shall pay to Lcndcr cach month a sum cyual to
<br /> i�rtc-twclfih of ihc ycarly mon�gc insuranc;c prcmium bciny paid by Borrowcr whcn thc insutancc covcragc lapsed or ceascd to .t
<br /> _: . � bc in cffcct. Lcndcr wiU acc:cpt, usc and retain thcsc paymenis as�loss rescrvc in licu of mortgagc insurancc. Loss rescrvc
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<br /> - Form 3028 9l90 � � �
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