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<br /> TS.Nazard or Property Insurance. Hortowcr shell kcep thc improvcments now caisting on c�rcuftcr crectcd an tho Property };
<br /> � insured against loss by fire, hazards included wi�hin the term "extended caverage" and nny other hainrdr;, includinII Ilcxxis or ' •
<br /> � f]oodin�,for which L.endcr rcyuires insurance. 'Itiis insurancc shail be mainteinerJ in tha umaunts und far thc periady that l.cndcr ,
<br /> .,� requires.Thc insurance carric�providing the insurencc shall bc choscn by Barrowcr subjcct to L.cndcr's appraval which ehall n�t -=
<br /> � ba unreasonably withheld. If Borrower fails to maintain coverage described above. L.ender may, ut [.ender's apucm, obtuin � � _
<br /> coverage to protect L.ender's rights in the Property in accordance with paragraph 7. i
<br /> ' � All insurance policies and renewals shall be acceptable a Lender and shall include a standard mortgage clause.Lender nhull ,
<br /> have the right tn hold the policies and renewals.If I.ender requires,Borrower shnll pmmptly give ta I.ender all receipis of puid � .
<br /> premiums and renawal nopices.In thc event of lass,Borrowcr shall giva prompt�otice to the insurancc curricr ond Lendcr,l,c�idcr �; _
<br /> may makc proof of loss if nat madc prompdy by Bonower. • ,;:.:
<br /> Unless Lcndcr and Bonower otherwisc agrcc in writing, insurance procecds shall be applicd w restaration ar rcpair of thc i '
<br /> Praperty damaged,if the restaration or repair is economically feasibla and L.ender's scxurity is not lessened. If the reswradan or "
<br /> repair ls not economicaUy feasibla or Lender's security would be lessened,the insurance procoeds shall be appGcd to thc sums `' '--
<br /> secured by this 5ecurhy Instrument, whether or not then duc, with any cxccss paid to Boaowcr. If Borrowcr abandona thc ,
<br /> � Property,or does not answer wi�hin 90 days a irodcc from Lender that �hu ins�uance uurier has offercci to sctQc u cluim,Ihcn " ;"��
<br /> Lcndcr may collcxt the insurance proceeds.L.cnder may usc Ihe proceeds to repair or restorc the Property or to puy sums sccured _
<br /> by this Security Instrument,whethcr or not then due.Thc 3aday period will begim when the nopce is given. ' ;' ;-
<br /> ' Unless Lcnder and Barrower othenvisc agree in writing,any application of proceeds to principal shall not extcnd or postponc � � ''"
<br /> the due date of thc monthly payments referred to in paragraphs 1 and 2 ar change thc amount of the paymencs.If under paragr�ph •
<br /> 21 the Proparty is acquired by Lender,Bonower's right w any insurancc policies and procceds resuldng from dnmage to the �`
<br /> - Property prior to the acquisieon shell pass to Lender to the extcnt of thc sums sccured by this Sccurity Instrumcnt immedlatcly ���',
<br /> • prior w thc acquisiuon. . ;��;:�-
<br /> 6.Occupancy,Preservatlon,Maintenuace and Protection of the Property; Borrower's Loan Application;Letu�ehoWs.
<br /> Bonower shall occupy,establish,and use the Proparty as Borrower's principal residcncc wlthin sixty days aftcr Ihc cxccuUon of �
<br /> - � this Security Inswment and shall continue to occupy tho Properry as Borrower's principal msidence for at least one year after the
<br /> � date af c�cnpanc,� unte� Lcndcr ashcrwiac agrc.c� in zvrting, which wnseni s�ali noi t,e wueasona�ly wiititiald� ur u�iii:�s r� _ ,., .
<br /> • . extenuating circumstances exist which are beyond Borrower's control.Borrower sheU not destroy,damagc or impalr thc Property,
<br /> . . � allow tho Propoity to dateriorate, or commit waste on tho Property. Boaower shall bo in default if any forfeiwre acdon or '-
<br /> �" .� ' proceeding,whether civil or criminal,{s begun thet in Lender's good faith judgment cauld result in forfeiture of tha Property or
<br /> ,�`'�'� otherwise materially impair the lion crosted by this Securiry Inamiment or I.ender's security interes� Hoaower may cure such e "'
<br /> default and reinstata. as provided in paragraph 18, by causing Uta action or procoeding to be dismissed with a ruling ihat, in I'��= -
<br /> Lender's good faith determination,precludes fodciti:rc of thc Borrower's interest ln iho Properry or othcr material impaicmont of � '
<br /> the Gen created by this Security Insmunent or Lendsr's security interesG Bonower shall aLga be in dt�fault if Borrower,duting Uto ��! �'y
<br /> loan appliaadon process,gave materially false or ins�ccurate information or statemen�s to L.endar(or failad w pcovido I.,e,�dar with
<br /> any material information) in connection with ttie loan evidenced by the Notc. including, but not limitad W, representntiona `
<br /> concerning Bonower's occupancy of the Property es a principal residence.If this Sauriry Instrumont is on n leasehold.Borrower
<br /> . shall comply with all the provisions of the lease,lf Borcowcr acquires fee tidc to tlie Property,the lcacehold and tha fcc dda shall .
<br /> • not merge unless I.ender agrccs to the merger in writing.
<br /> 7.Protectbn of Lender's Rights in the Property, If Borrower fails to perform the covensmts and agroements contained in ��
<br /> � this Seciuity Insuu�rzent,or there is a legal proce�ding thntmay signi�cantly affett Lender's rights in the Property (sueh ag a '��
<br /> • procccding in banfwptcy,probate,far condemnation ar forfeiture or to enforcc laws or rcgutadons),then Lcndcr may da and pay -
<br /> _ i for whausver is necessary to protect the value of�he Properry and Lender's rights in the Property.Lencler's actions may include
<br /> - paying any sums secured by u Gen which has priority ova this Security Instrument, appearing in court, paying reasonable �
<br />- auomcys' fces and entering on thc Property to make repairs. Alihough Lender may takc action undcr this paragraph 7,Lcndcr
<br /> �. does not have w do so. ,
<br /> . Any amounts disbursed by Lender under this paragraph 7 shail become additional debt of Borrower secured by thls Security
<br /> Insuument Unless Bonower and Lcndcr agrcc to other terms of paymcnt, thcse amounts shall bcar interest from thc datc of �'
<br /> = disbursement at the Note rate and shall bc payablc,with interest,upon notice from Lcndcr to Borrowcr requcsUng payment. � :�.
<br />- 8.Mortgpge Insurance. If Lender required mortgage insuranccs as a condition of making the loan secured by this Security � �:J'� �•'
<br /> , Inswment, Borcower shall pay the premiums rcquired t,o maintain the mongagc insurancc in cffcct. If, for eny maton, thc • �±'•:��
<br /> mortgagc insurancc covcragc requircd by I.endcr lapscs or ccases to be in effect.Borrowcr shall pay the prcmiums rcquircd to '°���
<br /> obtain coverage substantially equivalent to the mort a e insurance reviousl u► effecG at u cost substantiall � .�'�v��;��� ��•���
<br /> 8 8 P Y � Y cquivalent to thc f:�:...(
<br /> cost to Borrower of thc mongage insurance previously in cffect, from an alternatc mongagc insurcr approvcd by Lcndcr. If
<br /> • substantially oquivalent mortgage insuranee wvecage is not available,Borrower sh�l pay to L.ender each month a sum equal to •� .
<br /> one-twelf�h af the yearly mortgage insuranco premium being paid by Btirro�ver when the insurance coverage lapsed or ccased to •
<br /> bcs in effec� Lender will accepr: use and retain these payments as a loss raserve in lieu of mortgaga insurance. Loss reserve � .'
<br /> _ Fo�m 302a 9Ip0 � -
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