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<br /> . - 97��1.935 . . . .
<br /> ' • 5.Hazard or Property 3nsurance. Borrower shall keep the improvements now e�cicting or hereafter erected on the Properry . ' <;
<br /> ; insured against loss by fire. harards iactuded within the term "extended coverage" and any other ha7ards. including floods or � •
<br /> flaoding,for wluch Lsnder requires insurance•'il�is�^��T�nra�be�aintained in the amounts and for the periods that Lender � _
<br /> ��.��s�u,�nse carrisr providing the insurance shall be chosen by Bairower sub}ect to I.ender's approval which shall not � .
<br /> ! be unreasonably withheld. If Botrower fa7s to maintain covemge descn'bed above, I.ender may, at I.ender's option. obtain
<br /> i covetage to protect Lender's rights in the Propeny in accordu►ce with paragraPh 7. ;
<br /> ' A11 iasurance policies and renewals sHa11 be acceptable to Lender aad shall include a standard mortpage clause. Lender shall i
<br /> � have the right ta hold the policies and renea+als• 1f L.ender recNires•Bon°wer shall promptly give to Ixnder all receipts of paid : - -
<br /> �! premiums ansi renewal notices.In the event of loss.Eorrower shall give pro�at notice to the insurance carrier and Lender.I.ender ; . ..
<br /> . may malce proof of loss if not made prompdy by Borrower. , � �
<br /> Unless I.ender and BaTrower otherwise agree in wriung, insi!*ans= Proc�e�s sha11 be aPPUed t°rest°raaon or repair of the ' . . .
<br /> Property damaged.if tt�restaration or repair is economically feas3le and Lender's security is not lessened. If the restoration or f � . . .
<br /> repair is nnt ecoaomically feasble or L.ender's security would be les�ened,the ins�rance Procxeds shali be applied w the svms ;�
<br /> secured by this Secarity Instiumen� whether or not then due. with a�r excess paid to Bottower. If Borrower aban:dons the , . ', .
<br /> i Property, or does not answer within 30 days a notice from L.ender that the iasurance carrier has offercd to settle a claim,then , _ L
<br /> a I.ender may collect the insurance pzoceeds. Lender tnay use the pmceeds to repair or restore the Property or to pay swns secnred
<br /> ! by this Seauiry Insuument.whether or not then dae.The 30-day period will begin when the notice is givrn. { . ---.
<br /> iUnless I.ender and Borrower otherarise agree in wriring.any apPlisadon of proceeds to principal shall not extend or postpone t ' . ' .
<br /> � We dus date of the monthlY payments refernd to in para8rapl�n 1 and 2 or change the atnount of the payments.If under paragraph . `
<br /> 21 the Property is acqulred dy l.ender. Borrower's dg4it to any insurance policiss and proceeds resulting from damage to the k � •
<br /> Property prior to the acquisition shall pasa m Lender[o the eatent of the sums secwed by this Securiry lnstrument inunediately
<br /> � pr(or to the ar,quisidoa. • : i •_ = ~�
<br /> 6.Ocwpaacy,peeservadon,Ma[nYer,ance ond Protect4on af t6e Propeny; Borrower's Laan Appticattoa;Leasehot�. � r�
<br /> . � gnrrower sha11 occupy.eatablish.and use the Praperty as Borcower's principal residencc wlthin sixry d ays a ft er t h e execuuon of =
<br /> .� this Security Insuument and ahall coatiaue to occupy the Properry as Borrower's principal residence for at least one year after the ��
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<br /> date of cccupancy. unless Leader otherwise agrees in wrlting. ahich consent shall not be unreasonably withheld. or unless ��;�;�:!
<br /> extenuating circumstarura exist which are beyond Borrower's canuol.Borrower shall not destroy.damage or impair the Pcaperty. � . . ' �
<br /> ' � allow the Property to deuriorate, or commit waste on the Prop�rty. Borrower shall be in default if azry forfeiture action or � _ ✓'� :� �
<br /> r o c e e d i n g.w h e t h e r c i v i l o r c c i m i n a l.i s b e�u n t h�t in Lender's goad�ai�►Nd S m e n t could result in forfeinue of the Properry or ': �, .
<br /> p � ;;,' • ; �a •,
<br /> otherwise materially impair the lien creaud by this Securiry I n suument or L e n der's securi t y i n t e r e s t. B o n o w e r m a y c u r e s u c h a •
<br /> default and reinstate, as pmvided in pazagraph 18, by causing the acaon or proceeding to be dismissed with a ruling that. in ���,. _
<br /> Ixnder's good faith detem�ination,precludss forfeiture of the Boaower's interest in the Property or other material impairmenc of � �: � ;�` -
<br /> the Iien created by this Securiry Instrumen[or Lender's security interest.Borrower shall also be in default if Boaower.during the . • � °� � :• _
<br /> toan application process,gave materially false or inaccurate informadon or satErnenrs to I.ender(or failed w provide Lender with :;;�;;.�,{
<br /> any material information) in covnection with the loan evidenced by the Note, including, but not limited w. rePresentadons . '.. ;�;..,r
<br /> conseming Borrower's occupancy of the Property as a principal residence.If�Security Insm�ment is on a leasehold,Boaower - ---- . �� ' -
<br /> , s h a l l c o s u pl y with all the provisions of the lease.If Borcower acquires fee tifle the Property,the leasehold and the fee flfle shall . r• '�i ,
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<br /> t mer e imless Ipnder a w the merger in v�riting. . ' �iriT�.t
<br /> no g ��
<br /> 7.Protedia�CF I.ender's Rigl�In the Property. If Boaower fails to perform the covenants and agree�nts contained in �"��—
<br /> this Seciuity t�tr^^a-^-+, or there is a 1e8a1 Procecdin8 that may significa�sly affea Lender's rights in the ProPertY(snch as a . . - .�;%,;;,�:
<br /> .,.: � �_
<br /> proceeding in ban�upuy,probate,for cond�mnadon or forfeiture or to e�arce laws or reguladons).then Lender may do and PaY
<br /> � for wtiatever is necessary to pro:ect the value of the Property and I�ender's rights in the�coperty.Ixnder's acrioac may inetude T.•.. . '�
<br /> Paying any sums securr.d by a lien which h�s prioriry over this Securiry Insuvme-�a. app�arin8 in court. paYinB reasonabls =:�,. , � ._ 'sr-
<br /> � attomeys' fees aud enuring on the Property to make repaus. Although Lender may take action under this paragraph 7,Lender , � -. �;' -,.
<br /> does not have to�n so. � � .' °-
<br /> p�r amo�mrs disbursed by Lcader under th9s paragraph 7 shaU become addidonal debt of Bonowe�sPCUred by this Security • . •,�.'�:�.
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<br /> Instrument. Unless Bonoaer and I.ender agtee to other te�of paymen� these amounts shall bear interest from the date of ." '•�' ''�
<br /> disbursement at the Nou rate aad shall be payabfe.with inter�t,upon noace from Lender to Borroaer requeating paycaent. � -.....; T"�,,�- _
<br /> , S.Mortgage IIrs�ance. If Lender required mortgage ins�uance as a condiflon o f maldng t he toan seau e d by t h i s S a u r iry � � �.
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<br /> Inswatent. BonaAer shall pay the pnmiums required w maintain the mortgage insurance in effect. If. for any+ reason, u'i. . . . . ,,�,,..
<br /> mortgage insura�e coveiage required by Leader lapses or ceases to be in e�'ect. Boaower ahall pay the premiumg required t� •
<br /> obrain coverage substaadalty ec�ilvalent w the mnngage;^�,*�^^p previousty in effect. at a cost subscanrially equivatent w the � : ,.
<br /> ca� � Bonower of the mortgage insurance previausly In effect. from an altemate mortgage insurer approve� by Ixnder. If •
<br /> subs�atially equivaltnt mortg�ge ins�tance coverage is not nvailable, Bonower sba11 pay to lender each mnnth a sum equal to . • • -
<br /> one-twelRh of the yearly mortga8e;^�+,*a�=premium being Daid by Bo:rower when the insurance coverage laysed or ceased ta � . � —
<br /> be in effect. Leader will accept, ase and retaia these payments as a loss reserve 9n lieu of mortgage insurance. I.flss reseive . :
<br /> Form 3028 9190 ' '
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