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<br /> 97- ��'�"�9
<br /> S. fl�rd or PropertY Insurwnce. �lonowcr shall keep thc improvcmcnts naw cxisting an c�rcaRer crcct on thc
<br /> Property insuted against lo.r•s by fire, huwrds includeJ within th�Icrm°extendcd coverage" and nny other haznrdr, including �
<br /> floods ar floading,for which l.ender requires insurance.This insurnnce shall be maintained in the wnounts n�x!for the periods
<br /> thut I.ender mquires. The insurunce a►nier provlding the Msurnnce shall be chasen by Bormwer sub��er mayC at L.ender'�s
<br /> which shall nc�t be unreasunably withheld. If Borrower fails to maintain covernge described nbove,
<br /> option.obtuin covemge to pratect I.ender's rights in the Property in accordunce with purngraph 7.
<br /> All insurance pollctes and renewals shall be acceptable to [.ender und shull include u standurd mortguge cluuse. Lender
<br /> shall I�ave the right to hold the policIes a�d renewnls. If L�:uder requires,Bormwer shull promptly give to l.ender all receipts of
<br /> paid prem[ums und renewal notices.ln the event of loss,Borcower shall give prompt notice ro the insurance c�arrter and Lendor•
<br /> Lendcr may make praof of loss if not made pmmptly by Bonower.
<br /> Unless Lender und Born�wer otherwi.se ngree in writins,insurance praceeds shall be applied to restarat�on or rcpair of the
<br /> Properry damaged,if the restoration ar repatr is economically foasible and I.ender's security is not lessened.If the restorntion or
<br /> repair is nat economlcally feasible or Lender's security would be lessened.the insurance proceeds shall be applted to the sums
<br /> s�ur�d by thls 5ecurity instniment, whether or nat thcn due. with any excess paid to Borrower. If Bormwer abandons the -
<br /> Property,or does not answer wtthin 30 days a notice fmm Lender that the insumnce carrier has offered W settle a cluim,thcn
<br /> Lcndcr may oollect the insurance proeeeds• Lender may use the proceeds to repair or nstore the Property or to pay sums
<br /> secured by this Security Instniment,whether r�r not then due.The?0-day paeriod will begin when the nottce is given.
<br /> Unless Lender and Borrower otherwise agree in wrtc�ng. any applicadon of �roceeds to pdncip�l shall net extend or
<br /> postpone the due date of the monthly payments referrcd to in pamgrnPhs 1 and 2 nr change the amount of the payments. If
<br /> under paragraph 2l the Property is acquired by Lender,BorroN+er s right to any insurance policies nnd proceeds resulting from
<br /> Jamage ta the P.roperty prior to the ucquisition shall pass to Lender to the eatent of the sums secured by this Security Instmmont
<br />- irrunadistaly pdor to the acquisition.
<br /> 6.Oocupancy,I'reservxtion,Maintensuwe stnd Protection ot the�raperty;Bor�'ower's LoAn Application;L�seholds.
<br /> Borrower shall occupy,establish.and use the Property as Rorrower's principal residence within sixry days after the execution of
<br /> �}��•����iry T��trument and shull continue to occupy the Pn►perty as Borrowec's princip�l restdenee for at teast one year after
<br /> the date of occupancy.unless I.ender otherwise agrees in writing,whtch cansent snali n�i i�c uiuuuutiat�ly w'ithh:.ld. or util�
<br /> extenuating circumstances exist which a�e beyond Borrower's control. Borrower shall not destroy. damage or impatr tlie
<br /> Prope:ty, allow the Property to deterion2e, or commit waste on the Prapeity.Borrower shall be in default if any forfeitttre
<br /> � action or procceding,whether civll or crlminul.is begun that in Lender's good faith judgment could msult in forfeiture of the
<br /> � Property or otherwise materi111y impair the lien created by this Security Instrument or Lender's security interest.Bormwer may
<br /> �*� cure such a default snd reinstnte,as provide�In puragraph 18.by causing the acdoa or proceeding to be dismissed with a cuUng
<br /> •�' that, in Lender's good faith detemunudon, precludes forfeiture of the Borrower's interest in the Property or ather a�atedal
<br /> :F impainnent of the lien created by this Security Instnunent or I.ender's security interest.Borrower shall also be in default tf
<br /> .� Bonower,durtng the loun application process.gave materially false or inaccuraee infornuidon or stntements to L.ender(or failod
<br /> to provide Lender with nny matedal Inforn�ation)in connection with the loan evidenced by the Note.including.but not limited
<br /> �� to.representations conc�ming Borrower's occupancy af the PropeRy as u principal residence. If this Security Instnunent is on a
<br /> F� leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property. the
<br />''? leasehold and the fee tide shall not merge unless Lender agrees to the merger in writing.
<br /> }i 9.Pe+otection of Lemkr's RlghGs In the Property If Borrower fails to perform the covenants ancl agreements contairu�in
<br /> � ; , this Sauriry Instrument, or th�re is a legal proceeding that may significantly affect Lender's righu in the Property (such as a
<br /> � procading in bankniptcy. probate.for condemnatton or farFeiturc or to enforce laws or regulations). then Lend�r may do and
<br /> . pay for whatever is neccssary to protect the value of the Property and Lencler's rights in the Pmperty. Lender's actions muy
<br /> include paying nny sums secured by a lien which hs�s prtority aver this Security Instrument, appearing in court, paying
<br /> .,�: reasonable attomeys'fees and entering on the Properry to muke mpairs. Although Lender may ta{ce actton under this paragraph
<br /> � 7.L.ender does not have to do so.
<br /> " Any amounts disbursui by Lender utxler this paragraph 1 sh�il become addidon�l debt of Borrow•er secured by this
<br /> ^t Securiry Instrument. Unl�ss Borrowcr and L.ender agrec co other terms of payment. these amounts shalf bear interest from the
<br /> � date of disbursement at the Note rate and shall be payable. with interest. upon notice from Lender to Borrower requesting
<br /> payment.
<br /> 8.Mortgs�ge Insuranse.If Lender required morcgage iasurance us a condition of mnking the lottn secured by this Security
<br /> � Instrument, Borrower shall pay the premiums required to maintaln the moitgaga insurance in effect. If. for nny reason. the
<br /> 1 mortgage insurance coverage required by Lender lapses or ceases to be in effect.Borrower sht�ll pay the premiums required to
<br /> I obtain coverage substuntially equivalent to the mortgage insurance previously in effect, at a coat substnntialiy equivalent to the
<br /> cost to Borcuwer of the mortgage insurance previously in effect, from an altemats mortgage insurer approved by Lender. If
<br /> sabstmtdally equivulent mortgaga insurance coverage is not available,Borrower shall pay to Lender each month a sum equ�l to
<br /> � ane-twelfth of the yearly mort�age insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> � be in effect.�nder will accept.use:ind retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
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