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<br /> IS.H��a�d or Property lnsuntnce. Borrawcr shall kccp U�c improvcmcnts now exisung on c�rcaftcr crcxtcd on thc Property •,
<br /> j insurcd egainst loss hy fdre, ha7ards includcd wiUiin �hc tcrm "cxtcndcd covcragc" and any othcr ha•r.ards, including tloods cx � ;"`��'
<br /> ,� Qoading,for which l..cndcr rcquires►nsurancc.'1'hia insunuice si►all be main�aincd in thc amounts ytd for thc periods that Lcctda . ,_ .,
<br /> requires.Tho insurenco carrier providing the insurance shaU be chosen by Borrowu subject to l.ender's appraval which shall not ;,;>,r_;;��:.�,
<br /> be wueasonably withhcld. If Boerowcr fails w maintain covcragc dcscrlbCd above, Lender may, at Lcnder's option,obtain � ,��x,
<br /> .�`�,*, covuago to protcct Lcndcr's rights in the Property in accordanca with parsgraph 7. ;°'�� F�,,�:�t,��°-
<br /> All insurancc pnlicics end renawnls shaU hc occcptablc ta I.cndcr and shall include a standard marigagc clausc. I.cndcr shall ��us�,�,�� ;r,;.,}�,r'
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<br /> have the dght m hold�he policies and rencwals. If Lcndu requires,Borrowcr shall prompdy give a Lendcr all rcceipts af pa�d .,���y��_,�_�__.,�µ:__
<br /> pcerniums and rencwal notices.In tha cvcnt of loss,Borrower shall give prompt nodce to the insurancc carrier and Lendcr.Lcndcr :� ��:�'="-==-•--=
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<br /> m�y make proof of loss if not mnde promptiy by Barowcr. i:>�--_
<br /> � Unless Lendor and Barowu athcrvvisc agroc in writfng� insurance procccds shall be applicd w reswration ar rcp.tir of the � -
<br /> property d9n►�,gcd,if thz restoration or npair is economically feasible and Lender's securiry is not lessened. If the restorarion or �}���-
<br /> ' repair is nat economically feasible or Y.ender's socurity woald be lesscned,the insurancc proc�ds shall bc applied to the sums `r'_�:_ _
<br /> ' socured by this Security Inswment, whether or not then duc, with any excess p�id to Bonower. If Bonower abandons the �.;,; -
<br /> ' Propeity,or does not answer within 30 days a noqce from l.ender that the insurance caarier has offered to seule a claim,then ___---
<br /> � L,endet may caUxt tha insurances procseds. Lender may use the proceeds to repair or restore the Property or to pay sums secored _ �
<br /> �. by this Socurity Instrument,whether or not then due.'Ihe 30-dny puiod will begin whcn the notice is given. °���=--
<br /> Unless Lender end Bormwer othenvise agree in writing,anY applicarion of proceeds to principal shall not extestd or postpone __
<br /> the due date of the monthly payments refured to in pacagraphs 1 and 2 or change the arnount of the payments.If under paragraph R�����-
<br /> ,� 21 the Prouerty is acquired by I.ender, Borrower's right tn any insurance policies and proceeds resuldng from damaSe w the �F;_—_=
<br /> . Property prior w the acquisidon shall pass to Lender to t1ro oxtent of ihe sums securod by this Socurity Instrument immediately �._ —
<br /> prior a the acquisition. ��`�-
<br /> 6.Occups�ncy�Preservation,MaintenAnce And Protectlon of the Property: Borrower's Loan Applicatbn;LeasehoWs. ��.�.�
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residence within suty days after the execuuon of —
<br /> thLs Securlry Instiuument and shall conrinua to occupy Ihe Prope�ty as Bormwcr's principal resldence for et least one year afler the -
<br /> ,. .._ , ' date of occupancy. unless Lender otherwise agrees in writing, which consent shall not be unreasonably witht�9d, �r unless
<br /> . extenuating circumstances oxist which are beyond Borrowet's control.Borrower shalf not destroy,damage or impair inc noj,c+t�+,
<br /> ' allow thc Pro�x,rty to detuioretc, or commit wastc on the Property. Barrower shall be in deCault if any forfeiture acdon or
<br /> • proceeding,wheiher civil or criminal,is begun thac in Lender's good faith judgment coWd result in forfeiuue of the Property or _
<br /> . . otherwise matcrially impair cha lien c7eated by this Se�urity Instnunent or Lender's socurity inccresG Bonower may cure such a
<br />-�:�- ; default end reinstate,as proviQod �n para8reph 18,by causing tho acaon or prooeading w be dismissed wlth a ruling that,in
<br />- . Letidu's good faith determination,precludrs forfeiwce of tho Borrower's interest in the Pmperty or other material in►painnent of
<br /> , . , :�.�� ,• the lien created by thls Secw�ity Inswment or Lender's socuriry inte�+esG Borrower shall also be in defeult if Bocrowu,during the
<br /> ��''`�;�:+ il� �epp�io�pocess�gave materially false or inaccurata informaaon or stauments to Lender(or feiled w provide Lender with ��.
<br /> -�� � any material infamarion) !n connecdon with the loan evidonced by the Note, including, but not �imited ro. iepcesentatioas
<br /> conceming Borrower's occupancy of the Property ag a principal residence.If this Security Instrument is on a lydsehold,Borrowu
<br /> • LS shall comply with all tha provisions of the lease.If Bomowcr acquires fce dde to the Propecty,the leasehold and the fee dtk shall
<br />- .. � . � . : not muge unless I.ender agcees w the merger in writing.
<br /> ' 7.Protection o�l.ende�'s Rig6ta in We Property. If Borrower faiLs to perform the covcaants end agceements contalned in
<br />'" `' this Securiry Instrumen�or thua is a legal procealing thpt may signiticandy affect Lender's rights in the Property(such as a
<br />=�;, ,, � .� ', pcocoeding in bankrupt�y,probate.for condemnadon or forfeitwe or to e,�force laws or regulations),then Lender may do and pey :":�,:.
<br />��?�.t;;�;••.: + fa whatevu is noccssaey to prntxt the value of the Property and Lender's rights in the Pmputy.Lendu's acdons may include
<br />_�_;'�,.:.. r'':: paYing any sums securod by a licn which has priority over this Security Instrument, aPP��B in court,PaYing r�easonabk _
<br /> it' auomeys' fees and entering on the Property to make repairs.Although Lender mny take action under this paragraph 7,Lender _--
<br />- ".'.� . does not have co do so. --
<br /> ;.�_;,w�',:_.�. My a�nounts disbursed by Lender under this pa�ag�-aph 7 shall become additional debt of Bonower socurod by this Sxurity =
<br /> - � Inst:umer►� Unkss Bormwer and I.ender agree to other terms of payment,these amounts shall bcar intcrest frnm the date of =
<br />=. ' �� disbursement at the Note rate and shall be payable,with intemst,upon notice from I.ender to Sorrower requesting paymen�
<br />�;" �� 8.Mortgpge IosurAnee. If Lender requlred mortgage insurance as a oondldon of making the loan secured by this Sacuriry _ �_
<br />- Instrument, Bo�rowu shall pay the premiums required to maintain the mortgage insurance in efftxt If. for any reason, the ==: - -- -----
<br />- mortgege insurance coveragn required by Lender lapses or ceaces to be in effect,Bomower shall pay the premiums required to ----- --_ _
<br />- obtain coverage substantially equivalent to the mortgage insurance pceviously in effect, at a cost substantially equivalerit to the ��.��-=_;
<br /> � cost to Borrowa of the mortgage insuranca previausly in effect, from an alcernate mortgage insuner approved by L.ender. If -
<br /> substanpally oquivaknt mortgage insurencf:coverage is not aveilable,Borrower shall pay to Lender each month a sum equal to �;�,-, n 4�
<br /> - one-twclfth vf tho ytarly mortgage insurance prcmium being paid by Borrowcr whcn thc insurancc covcrage lapsod oc ccased co '��.•-'� «.:
<br />� be in effceG Lender will accep4 use and retain these payments as a loss mscrve in Geau of mactgage insurance. Loss reserve '-�?'� ..�°''
<br /> Form 502� OIDO .��'t�, "
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