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201206261
<br /> All insuxance policies requircd by Lender and rei�ewals of such policies shall be subject to Lencler's righC to
<br /> disapprove such policies, shall include a standard niortgage clause, a�d shall nvna Lender as mortgagee
<br /> and/or as an addiCional loss payee. Lender shal] h�rve thc righC to hold the policies uid renewal eertificates. IY
<br /> L,cuder requires, Borrower shal] promptly give to I,endar all receipts of paid prc�niums and renewal notices.
<br /> If Borrower obtains n�ry Ponn of iiisurancc coverage, not othecwise required by I.e�der, for d.unage to, or
<br /> desYivction of, ehe Property, such policy shall incfude a sCaizdard mortgage clause and sliall nttme J.ender�s
<br /> mortgagee and/or as a� addit9ona] loss payee,
<br /> In the event of lass, Borrower shall give prompC notice to the insuranee carrier vid Lender. l,en�er may
<br /> malce proof o'P loss if not made prom�tly by Borrower. URless Lender and Borrower otherwise agree in
<br /> writing, any insurance proceeds, wheUier or not the underlytng insurance was required by Lender, skiall be
<br /> ap��Iied to resGoraCion or repair of the Pcoperty, if tha restoration m� repair is economically feasible and
<br /> Lender's securitp is oot fessened. Dueiug such repair and restoration period, Lender shall have the iight Co
<br /> hold sixch insurance p�roceeds uutil Lender has had an oppocYuiilty to inspect such Property to eiisure Che
<br /> wodc has been eo�upleted to Lender's satisPaction, provided that such inspection shall be undertalcen
<br /> p�romptly. Leudec mny disburse proceeds for the repnixs amd restoration in a single payment or in a series o�f
<br /> progress paymen[s as the work is completed. Unless am agrecrnenC is iroade ii�writing or Applicable Law
<br /> requ'tres interest to be paid on such insurance proceede, Lcnder shall not be required to pay Snrrower any
<br /> iiiterest or earnings on such proceeds. Pees for public adjusters, or oChex tliird parCies, retained Uy Borrowcr
<br /> shall noC be paid out of Che insurance proceeds and shall be Yl�e sole obllgation of Borrower. If tl�e resCm�ation
<br /> or repair is not ecouomically Yeasiblc or Lender's seeurity would be lessened, tha insurvioe proceeds eliall be
<br /> npplied to the sums secured by Chis Security Inszivil�ent, whether or not then due, witli the excess, if any,
<br /> paid to Borrower. 5uch insurance proceeds shall bc applied in the oecler providcd for in SecYion 2.
<br /> IP Borrower abxntlons the 1'ropartq, Lender may file, negotiate and settle any available insurance ckaim and
<br /> related ii�xtters. IP Rorrowar does not respond within 30 days Co a notice from Lcnder Chat the insuramce
<br /> oarrier has offered to 4etYle a claim, then Lender may negotiate and settle thc claim. The 3D-dary period will
<br /> begin when Che notice Is given. Iii�ither event, or if Leoder acquires Che Property under Section 22 or
<br /> otherwise, Borrower hereby assigns to Lender(a) Borrower's righls to any insurance proceeds in ao amow�t
<br /> not to exceed the amounfs ttnpaid under Yhe Note or this Seeurity Lish�ument, and (b)any oCher of
<br /> Borrower's iights (other ehan th� rigl�t to any tefund of unearned preniiu�ns paid by Boreower) imder alI
<br /> insurance policias coveting Che Property, insofar as such righCs are applicaUle to the oovcrage of't[�e
<br /> Property. Lender may ase the insurance proceeds ciChar to repair or restore the Property or to pzy amouots �
<br /> unpaid under the Note or thie Securiry Insti'ument, wltetl�er or not thei�due.
<br /> 6. Occupancy. Borrower shall occupy, establlsh, aod use tl�e Property as Borrower's principal resiclence
<br /> wiChin 60 days after The axecu6�n of this Security TnsYrument and shall wi�tinue to oceapy the Properl'y as
<br /> Barcower's principal residence for at IeasC one year aPtex Che date of occupancy, unless Lendcr otherwise
<br /> agrees in writing, whicli consent shall not be timreasonably wiCl�hald, or unless ex[enuating circumstanees
<br /> exist whicli are beyond Borcower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspectioirs. Borrower shall not destroy,
<br /> damage oc imp.iir the ProperCy, allow the Propeety to detcriorate or commit waste oii Chc Property. Whetller
<br /> or no[Borrower is residing in Clie Property, Borrower shall maintain die PropetCy in order to prevent tl�e
<br /> ProperCy Prom deteriorating or decreasing in value�lue to its eondition, Unless it is da[eimined pursuant to
<br /> SeeCion 5 Yliat repair or restoration is not eoonomicnlly feasible, Borrower sliall pramptly repair the Property
<br /> if damnged ro<tvoid fuxCher deterioration or damage. IP insurance or condemn.ition proceeds are paid in
<br /> comiection with damage Yo, or Che fal<ing of, the Property, Boirower sl�all be responsible fc�r repairi�ig or
<br /> rescoring tlie Property only if Lender has relaased proeeeds for such purposes. Lender may disburse proceeds
<br /> 2+10016'J3
<br /> NE81lA5KFl�SinyleFemlly-Fennle MaelFreddlo Moo UNIFORM 1NSTFUMEM' Form 3028 ll0'I
<br /> ��p @ VMP81N6)f1106��
<br /> Woltcrs ICluwerFinamlal 9ervices Pege J of 19
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