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<br /> � • ; . .S. Hazard or Property Insuraace. Borro�ver shall k�p the improvestents now esisting or hereafter erected on . ..
<br /> ' • ' the Property insured agaiast loss by�re.hazards inciuded within the term'extended coverage"�and any other hazards, •
<br /> �� ' including floods or floading,for which I.ender requires insurance.This insurance shaU be maintained in the amounts • '
<br /> , � and for the periads that Lender requires.The insurance carrier providing the insusance shell be chos�n by Borrower : • .
<br /> � sublect to Ixader's apprnvel which shall not be uareasonably withheld.If Borrower fails to meintaia wverage described `
<br /> � above,L.euder may.at L,euder's option.obtain coverage to pratect LendePs rights in the Pr4perty in accordance with s ., :
<br /> • P�B�Ph 7• � :
<br /> . . All insurance policies and renewals shall be acceptable to Lendet aad shall include a standard mortgage clause. . '
<br /> ----.--- L.ender shall have the right to hold the policies aad renewals. If Leader requires. Hornoncr shal! promptly pve to = ' '` -
<br /> . .' � Leader all receipts af paid premiums aztd renewal notices.In the event of foss.Borrower shall give prompt notice to the E � �
<br /> insurance carriet and Lender.Leader may malce proof of losg i#not made promptly by BarroRec. �
<br /> Unless Lender and Borroc�er otherwise agree ia writiag.insurance praceeds shall be applied to c+estoration or repair � `
<br /> : � of the Property damaged,if the reswration or repair is ecoaomicelly feasible and Leader's security is not lessened.If the �
<br /> �;.; rresstoration or r e p a ir is not economically feasible or Leader's security would he lessened.the insurance proceeds shall be � , � �
<br /> applied to the sums securad by this Security Instrument.whether or uot tDen due,with anq excess paid to Bomnwer.If
<br /> - '�. . ' ;� Horrower abandons the Property,ar does not answer within 30 days a notice fmm Lender that the insuraace carrier has `
<br /> , offered to settle s claim,then L.ender may collect the insurance proceeds.Lender may uss the proceeds to repair or ,
<br /> ' . restore the Property or to pay sums secured by tUis Security Instrument,whether or not then due.The 30-day period will .. ,' '�_ "
<br /> . � begin when the notice is given. '... :.
<br /> `'"�' , . Unlesg Lender aud Eorrower otherwise agree in writing,any application of proceeds w priacipal shall not estend or ��:�S�.,�..
<br />`;`;�;� � postpone the d�e d�'e of th� �nonthl.�pa•�menis^eferred to in gar3graphs 1 and 2 or change the aznount of the payments. ; _ " _
<br /> If under paragraph 21 the Property is acquised by I.ender, Batrower's right to any insuranca policies and praceeds ; • ,.F ' �.��;.
<br /> . _ re.s�lting fmm damage w the Ptoperty prior w the acquisitioa�Sll pass w Lender to the extent of the sums secured by
<br /> _ . � this Securitp Instrumeatimmediately prior to the acquisition � �
<br /> `"' � - 6.O�cupaacy.Pr�rvation.Maintenaaoe riad Protestioa at the ProQerty;Borroviea's Laa�a Application; ',.=`
<br />`�:�:;� ' � � H.easeholds. Borrower shall occupY,establish,aQ€�u�t�e Frcfpe:-cy as BorrowePs pri�cipal residence wcthin siatq aays • �k ' ;
<br /> a f t e r t he er.e�ution o f t h is Security Insuument ts�.s f�a t 2 ca�aue to occupq t he Pro�ertq as Borrower's princi p a l .;.
<br /> residence f�r�t least one year after the da:e of oa..�a:,cy,u:�Lender otherwise ag�es in writing,which consent shali .. � ��F�
<br /> ,.: not be a:z�.:ably withheld,or un:ess estenu�ri¢��rcumstances esist wluch are bayond Horrawer's oonttol.Borrower � ' � ' �''„�.��
<br /> _ ' . shall not�.-+oy.dana..�or impair`��t�supercg,�}tow the Property to deteriorate.or commit waste on the Praperty. � � "`-"'�<z��:
<br /> . � Borrower s'+.�'i be in d�fs�t if anp fvsFeiture actian or proceeding.whether civil or criminal,is begun that in Lender's ; : '_�:�
<br /> ' • ;',,.,. } good faith s�3gment could sesutt ia°�:feiture of the Propercy ur otherwisa materiallq impair the lien created bp this -�. ��:`
<br /> �' "�' Security Inssument or Lender's se�.�ity iaterest. Borro�er cQay cure such a default snd reinstate, as provided in �':``'.� .f
<br /> : . ;'i.�;.•:?.f; . , ;^,!%rdf. ,� :
<br /> � . ;;: ¢ Paragraph 18, by causing ihe actian ot proceeding w be dismissed with a ruling t�at� in Lender's goad �ith ,�k�t��..,
<br /> .• � determination,precludes forfeiture of the Horrower's interest nn the Propettp or other matecial imFairraent of the�en �`�:;`�'�-�
<br /> ' � .' created by this Securitp Instrument or Lender's s�eurity interegt.Borrower shall also ba ia default if$errower,during ` ' ���";�_���,�:�;'
<br /> � the loan application proce�s, gave materially falsr or iaaccarate information or statements to Lender (or failed to �'���'`� .��, �:.`; ::..;�
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<br /> . . provide Lend..or with anp material information)za+�oaaectiaa�r'sih the loan evidenced by th�Note.includiAg,but not � , ;��,;..;r�,��
<br /> ' ��.�.';.� limited to.representations eoncerning Bonower's Qocupaacy a£the Property as a princa�a!residenee. If this Se�vritq . ;'''�;?�:.
<br /> ' � _ � In.gtrument is on a teasehold.Borrower ahall com 1r-�it,'t eif tt;.e v�siona af the lease.If Borrower •--- -: '�'• .;:
<br /> the Pro � P� � ase acquires fee title to , ;�
<br />_-:j' perty,the leasehold attd the fee title shall n.at n�erge tiates�Lender agt+ees to the merger ia wtiting. �� t.:
<br /> � �' 7.Protection oi beader's Rights ia the Fra�rBrtq.8 Borrower fails to perform the covenants aad agreements � . ' "`
<br /> ° : .. ;f_.., contained in this Securitg Instrument.or there is a iegal praceeding that may significantly affect Lender's rights�n the • :.-'tf
<br /> -� � • �,.°.:;:., Property (such as a praceeding in banlwptcy, pmbate. for condemnation or forfeiture or to enforce lawa or �,� - �=�-'�
<br /> � `,,;,;;1';.;��, regulations),then Lender may do and pay for whatever is necessasg to ptotect the value of the Property and Lender's . � � ', "
<br /> � ::;:��,'�,� righte in tf�e Property. Lender's actions may includa paying any sums sec�red bq a liea which has priority over ttia � "�`'•'`�
<br />_;; � .� . Security Instrument.appearing in court.paYing r�-�nable attorneye�fees zud.catering oa tha Property to malce tepairs. `''` �r;., ' �
<br />_ � '. �. , ?�Ithovgh L.ender maq�se action under this paraga�ph 7,Lender daas uat hare w do so. ��
<br /> • : -� - Any ar.tounts disbursed bp I.ender under this paragsaph 7�hall ts�oarce gdditional debt oi Borroa�secured by t}us ' � ���f���_+
<br /> , : � �`�.` Secusitq;�^�vmen�Ualess Bonower and Lender agree to orhes tercr.s af payment.the�amounts shall bear interest ,:..;,:;,;�,?�<;;,.i�
<br />.:��% � � . , from the dat�of disbursemenE at the Note rate and shall be paFaTcle,with interest.upoa autice from Ler.der to Bom�.aer . � • `�,�� "``
<br />�YT;,. . .� requestinSPeYment. �•
<br />' ' 8.Mortgage Iasurunce.If I.euder required rs�arsgage insurence as a condition of making the loaa secured by this
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<br /> nh � � Security Inatrument,Bnnower shall pay the premiums reqvired to maintain the mortgage insurance in effect.If,for any �� : �� . - .
<br /> reasoA. the nzortgage insurance covetage tequired by Lendet Iapses or ceases to be in e�ffect. Borrower sha11 pay the • �3;J., '�,�.'.,
<br /> :� , psemiums s equired to obtain wverage substantially equivalent r,�the mortgaga insurance tsreviously in effect,at a cost "'� �
<br /> ': ' substantially equivatent to the cost to Bonower of the mortgage insurance previously in effect, from an altemate l•: � � . �
<br /> '�4 � mortpga insurer appm:ed by Lender. If subst�:ntially eguivalent mortgage insurance coverage is not availabte, �'" '
<br /> '�:s� � � Borrower shall pay w Les�er each month a sum Pru�l to one-tRelfth of the searlq mortgage insurance premium being
<br /> - �� � � � paid by Borrower when tAe ineurance coverage lag�ar ceas$d to be in effe�ct.Lender will accept,use and retain these ��` ��
<br /> payments as a lass reserve in lieu �P mortgage insurance. Lo� reserve payments may no longer be required, i :�<<�;�;;;. •
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