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<br /> S.IiQUird a�Property Ineurance. Borrowcr shall kcep thc improvcments now cxisdng on c�rcafter crectcd on thc Property �� •- r
<br /> i�sue��g�inst lass by Cuc,hn.�nrd9 'tncluded withiu lhc term "ext�ndcd cc�veruge" and any ather hnu�rds, including floods or . ��
<br /> " pooding,for which Lendcr rcquires insurnncc.This insuranca shall bc maintained in the amounts nnd for thc pcxiods thnt Lcndee
<br /> ��i��s,'It�p insumr�ce cuirter provlding�he insuranca shall ba chosen by Bonower subject to L,ender's approv�l which shall noi
<br /> be um�ea��nabfy withhGld. If Borrowcr falls to m�intnin coverage de`cribed above, Lender may, at Lender's option. obtain
<br /> � covcrngct to prot,cct Lcnder's rights in thc Propcny in nccordance wtth ParaS�Ph 7.
<br /> pll insurnnce PaAeics�nd renewats shall bc ecceptnble to Lendu nnd sh�ll include a standa c��der!aU rece pts of paid . '
<br /> bave the right to hold the policias and rencwails.If Lender roquires,Bono�ver shall promPUy g'
<br /> prca��iums ttnd renewal notir,cs.In the cvcnt of loss,Bocrowcr shall givc prompt notice ro th¢insurance cureie.�and I.endcr.Lender �q,��;.,
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<br /> may makc�roof of loss if nat mA:te promptly by Bocrowcr. ���.:._-�_
<br /> Unless Lencter ancl Borrower otherwise ugree in writing,insurance proceods shtill be applied W restoration ar repair of tha "�,�-�---- -
<br /> property dsunaged,if the restornHon or repair i�economicFilly feasible and Lendsr's sec�uity is not IcsseneAi. If the restoration or Y�_ -_
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<br /> cepnir is not econa�kally feasiblv or Lcnder's socurity would be lesscr�,�he insurance proceeds sh�ll bc applied to the sums .:'�.R::<'`
<br /> _ . - �,:r� by this Security Instruanu�t,whether ar not then due, with any excess paid m Borrower. If Borrower abandons the Y,�i:: �
<br /> Property,or daes not answer withl��30 days a noticc fmm Lender thEt tl�e insurence cnrricr hus aftered t�scule a�laim�then � : .- _ -
<br /> .. Lender may oolloct Ihe insurnnoe pracec:ds.Lender may use the procecds to repair or restQre the Propecry or to pay siaQns secured �'.. �_v
<br /> - by this Seciuity Instzument,whether or not then due.'Ihe 30-day period wil!be8in when the novice is given. ;�,t;,,; ;,,,-.
<br /> Unless Lender and Borrower otherwise agree in writin8��Y BPPlication of proceeds co principal sh11f not extand or pasqsone ,
<br /> enls.Ifander h �!i%<. '•:°:
<br /> 'F the due dnte of the manthly paymez►ts rcferrcd to in parag�aphs 1 and 2 or change th�amount of the paym P�P •����>',;;.�:� _
<br /> ° 21 the Property is acquired by Lender. Boaower's right to any insurance policies and proceeds resulting from damage to th,e ...;�;.,,, ;�,,�-m`
<br /> ' i°•� Property prior to the ucyuisidon shnU pass tn 1.ender to the e�ctent cf the sums sseccurcd by this Scxurity Insuument imrnediately .;c_;t'��fr_�;
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<br /> prior to thc acquisitinn. ,.'�'�'.�. �
<br /> 6.Occupstncy.Preservr�tlon,MointenAnce and Protection of t6e Property; Doreower's Loan ApplicAQion;I.easei�olds. tr r�
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<br /> �• ' � Horrower shall cecupy,establish,and use�he Propercy as BormK'er's principal residence within sixry days after the eaecution of �.
<br /> � this Securiry Instrument and shall ecmnnnue Uo occupy the Piroperty as Borrower's principal residence for at leact one year after the � �;'.
<br /> --- - ; �a[e oi occupancy. u�uuci� ;.��i,w ��S��ia. :.g°.�..° in �ri�ng. Wh;�� rnncenc chall not be unm,ssonablY witbhcld�or unlcss _�'�;,;:�., � ';_
<br /> eatenuating circumstanoes exist which eee beyond Borrower's control.Borrower shail not destroy.damage or impair the Property� '�';�" T ,�•�
<br /> k allow thc Property to deteciornW, or commit wastc on the Proputy. Borrower shall be in defanit if any forfeiwre astion or , ti, _
<br /> � praceed'uig,whether civil or crimirn.il,is begun that in Lender's good faith judgment could result in Sos-keiture of the Propeity or `:�
<br />_ ,,. ahcnvise matesially impair the lia��created by thLs Sec�uity Instrumu�t or Lender's security intems�I�aIrower may cuc�e such a �,�.
<br /> � ' ' default and reinstata�as provitiod 'an patagraph 18.by causing the action or proceeclin�to bo dlsma.ssed with a mling that,in . ,„r
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<br /> Lender's good fai�i detelmination,precludes forfeiture of the Borrowsr's interest in the�"roperty or olher material imPaiin►ent of +.
<br /> iha llen created by this Security Insm�ment or Lender's security interest Barrrower shall also be in default if Borrower,during the ,•-
<br /> �onn appgc�tion pn�cess.gave materlally false or inaccurate infoimation or shatements to L.ender(a�fa�led to provide Lender wit� :
<br /> any mate�ial information) in connecdan with the loan evidenced by the Nouo, including, but n�i limited to, tepnesc.�nuuions _
<br /> concem�ng Borrower's occupancy of the Property as a principal resfd�►ce.If this Securiry Instrument is an a leaseh�9��,Bonowe�r �,��_
<br /> ' sh[►U comply wit�al�the provlsians of tha lease.If Bomower acquires foe ride to the Pro�ty,tho leasehold and t�he ffea dtle shull �`�""
<br /> _. � not merge unl^,ss ti.ender agrees ta the merger in writinE• �;:
<br /> : . 7.Protectkm�1Lender's Righta in t6e F'soperty. If BoTrower falis to perfoim the covenanta�nd agreements wntained in E:_
<br />��. this Security Inst��t,or th�ra is a legal praceeding thstt may significar+dy affect Lendcx's dght� in the Property(such as a _-�--
<br /> _ � . �'� p��g��y�p�y,pr���nzr„Q'ar condemnadon or forFe3aure or w enforce laws or regulutians},the,n Lender n�ay do and pay ,.,�.---
<br /> far whntever is necessacy to pn�ifxt the value of the Propc.�and Lender's rights in thY Property.L.ender's ections may include �1'
<br /> � � pnyinB any sums secured by a llen which hns priority over this Secu�zy Instrument, aPPearing in wvrt,{►aYu►B reasonable _ _
<br /> � aunmeys' fees and entr�ing on the Fraperty to make repairs.Alchough Y.ender may teke action under ihis paragraph 7.L,endar
<br /> " � docs not have to do so. =:���--
<br /> , Any umounts disburFnd by Leader under thls pacagraph 7 shull become addidonal debt of Borcower socured bY this Sect�ry -}.��r..-.
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<br /> -� i i In�uumetit. Unless Borrowea and Lcndec ugr�e to othcr terms of payment,theso amounts shall bear interest fro�n tlia dat�of ,,
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<br /> • � ; d'�ur:sement at thc Nota rn+.�and shall be payeble.with interest,upon not�oe frorn Lender w Borrower requesting paymen� .,;_�,�",�`—'�.�-'
<br /> _ " � 8.Mortgage Iaclrunce. If Lender required mortgage insurance as a condition of making the loan sec u n e d by t h i s Securi ty :... • !�,.;,:; t�'
<br /> ; In..�tniment, Borrower shall pay the prc;miums required to maintain the mortgage insurancc in effecG If. Cor nny reason, the :�� �- �s• ��`
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<br /> r i mortgage insuranca covert�e a�e�aired by Lender lapses or ccaSes tn be in effect,Bonower �hall pay the premiums raquired w ,_.;,?�,�j�.:n�i'-c:�3� .
<br /> ' obtr�in coverage substsss►t+ally e�uivalent w the mortgege inscuance previously in affec�at a cost substanrially equivelent to the t;�;,':,,•.�;�:�.��'��%�
<br /> . � co�t to Bo:rower of thc mortgage insumncc previously in eff�ect, from an al3canate mortgege insucer approved by Leoder. If •- '„�V;C���,
<br /> � sub�W'`'ntielly equivalet�t mort�t�ge insurance covera�e is not avttilable.��,erower shall pay to Lender cACh month a sum equal¢� �:;'y'�,��'•_�
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<br /> Rne�twelfth of the ycarly mortgage insurance premium being paid by Bmrrower when the insurance coverage lapsed or r,ease,�afl �.'y,_�,`;;•
<br /> ba in effec� Lender will oscep� use and retain these payrt�ents as a loss rosen+e in lieu of mort�age insurance. Loss resen'e .. :
<br /> Fo�m 3d�8 9190
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