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<br /> `' S. HaTard ur Property I�surance. Borrower shall keep the improvements noµ existing or hercafter erected on the • _
<br /> ' � Property insured a�ainst loss by fire. hazards included within the term "extended co�•erage" and any uther hazards. including ,i . . .- . • � . --=
<br />. . � flooJ�i�r flooding, for which I.ender requires insurance. This insurance shall be maintsinsxi in the amounts and for the periods Z+,
<br /> ,•� that Lender reyuir��,. The in.�urance carrier providing the insurance slull be chosen b}� Borrower �ubject to L.ender's a�proval , i .:
<br /> which tihall not be unr�unabl}' withheld. If Borrower fails to maintain co�•erage deacribed a6ove. Lender may, at Ixnder'+ ��
<br /> --1 ' , . . • •r. .
<br /> option,obtain coverage tc�protect l.ender',rights in the Property�in accorcidnce with paragraph 7. � ^_
<br />-;� r�►it insurance policies and renewals shn(1 br acceptable to Lender and shall include s standard mortgage clau,e. Lender :_�_�.�'-'„_.-_,-_. --.
<br /> �- .hall have the right to hold the pulicies and renewals. If L,ender requires.Borrower shall promptly give to Lender all receipt�of
<br /> � paid premiums and renewal notices.[n the event of loss.Borrower shall give prompt notice to the insurance carrier and L.er.d�r. . .� �
<br /> '�. � <
<br /> �•� Lender may make proof of loss if not made promptly by Borrower. � '" ....
<br /> i . ` 4'
<br /> Untess Lender and Bonower othernise agree in writing,insurance proceeds shall be applied to restoration or repair of the ... _ _
<br /> ,� Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restorauon or .'� . �.,`: „���
<br /> �`, repair is not economically fe�asible ar Lender's�ecurity would bz lessened.the insurance proceeds shall be applied to the sums . " ,8=`�
<br /> ? secured by this Security Instrument, whether or not then due, with any excess paid to Bortower. If Borrower abandocn the • ����•
<br /> �� ,.;- ...
<br /> ` Property, or daes not aiuwer within 30 days a notice from Lender that the insurance carrier has offered ro settle a claim,then • • � �'
<br /> Lxnder may collrct the insurance proceeds. Lender may ue the proceeds to repair or restore the Property or to pay sums .. " -�� :-�-,.� .:
<br /> ���," -�..
<br /> :r. secured by this Security Icutrument.whether or not then due.The 3U-day period will begin when the notice is given. .- � �.• �
<br /> � Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or . �_�`—'
<br /> .� postpone the due date of t4e monthly payments referre� �� in paragraphs 1 and 2 or change the amount of the payments. [f . �:x
<br /> '� under paragrsph 21 the Proper[y is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting from . ;�=-�_-..-._Y .�_
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument �� ,�,�..�. �,.''
<br /> �.:•f immediately prior to the acquisition. �-'�-��-��- "��—
<br /> 6.Occupancy,Preservation,Muintenance and Pmtection of the Property;�orrower's Loan Application;Leaseholds.
<br /> .,,�' Borrower shal!occupy,establish,and use the Property as Borrower's principal residence within�ixty days after the execution of , =�
<br /> . f' .���.. �
<br /> • this Security Instrument and shalt continue to occupy the Propeny as Borrower's principal residence for at least one year after : ��.
<br /> the date of occupancy, unless Lender otherwise agrees in writing. which coasent shall not be unreasonably withfield,or unless • ._ _ �- tr���•:� . _
<br /> � extenuating circumstances exist which are beyond Borrower's control. Borrower shall not des[roy. damage or impair the ""-x`"'R'
<br /> � , Praperty.allow the Property to deteriorate, or commit waste on the t'roperty. Borrower shall be in default if any forfeiture � ?._ ` -
<br /> action or proceeding,whether civil or criminal.is begun that in Lender's good faith judgment could result in forfeiture of the ' .,,a,,,,. "° '�, ��•��
<br /> , '���' Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. �orrower may '"r' - _� =�'< . E"f
<br /> ' cure such a default and reinstate,as provide�in paragraph 1 S,by causing the action or proceeding to be dismissed with a ruling _ �� ::�
<br />• that, in L.ender's good faith detertnination, precludes forfeiture of the Borrower's interest in the Property or other material , ` f' � : `
<br /> impairment of the lien created by this Security Instrument ar I.ender's security interest. Borrower shall also be in default if � ;�� � —
<br /> Borrower,duriug the loan application process,gave materially false or inaccurate information or statements to Lender(or failed �,., - •;;�t�: -�^
<br /> �� to provide Lender with any material information)in connection with the loan evi denc e d b the Nate. includin ,but not limited '' �
<br /> .. y g , '��;,�-r,_,,
<br /> to. representations concerning Bonower's occupancy of the Property as a principal residence.If this Security Instrnment is on a . . .,�:r,r•r•��•
<br /> leasehotd, Borrower shall comply with all the provisions of the lease. If Bonowe�acquires fee title to the Property. the -
<br /> ' leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. �� �
<br /> �;..,�
<br /> , 7.ProtecNan of Lender's Rights in the Property.If Bonower fails to perform the c:ovenants and agreements contained in _ _ _ ' ��• � :.-
<br /> this Security Instrument, or there is a legal proceeding that may significandy affect I.ender's rights in the Property (such as a : x l '���`.
<br /> praceeding in bankruptcy,probate, for wndemnation or forfeiture or to enforce laws or regulations), then i.ender may do and "` _ _ __
<br /> � pay for whatever is necessary to protert the value of the Property and Lendei s rights in the Property. Lender's actions may
<br /> ' , include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying � _ _ __-��°
<br /> reasonahle attomeys' fezs and entering on the Property to make repairs. Although Lender may take action under this paragraph '
<br /> �_. � �.r. ... .': '. ._—°�.
<br /> 7, Lender does not have to do so.
<br /> Any amounts disbursed by l,ender under this paragraph 7 shall become additional debt of Borrower secured by this ___' -�s=•�x"""
<br /> ..;,_- ----
<br /> Security lnstrument. Unless Borrower and Lender agrce to oth�r tertns of payment, these amounts shall bear interest from the � �,�is�,�;:__
<br />� date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting .�,,.:���.��e. �:..
<br /> � �:
<br />� , payment. '
<br /> �-���.-=-;.
<br /> ' 8.Mortga�;e Insurnnce.If I.ender required mortgage insurance as a condition of making the loan secured by this Security _''�„ .
<br /> � Instrument. 8onower shall pay the prcmiums required to maintam the mortgage insurance in effect. If, for any reason, the ��•�'''�'?"` �
<br /> ='4_�r`�� '.: :_ �,':•�N.'.;.�:
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to -.:«�w`�`` ' �-•_
<br /> obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substan�ially equivalent to the �� '
<br /> cost to Borrower of the mortga�e insurance previously in effect, from an altemate mongage insurer approved by Lender. If ���� y'
<br /> . substantially equivalent mort�age insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to •�;:•;..�o�..:�.;�}.•''::
<br /> -�+:i,�+rx-:.►i�e�-;,..:..
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to _ .�,.:.<..
<br /> be in effect. Lender will accept. use and retain these payments a� a loss reserve in lieu of mortgage insurance. Lc�ss reserve .`Y"���yr`�'��
<br /> Form 3028 9J9U .. - �
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