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<br /> S. Hai.ard or 1'ropctly Intitirunce. Barrowcr ,hall kcep thc improvcmcnts now cxis�inE�iF Ticrcaftcr crcrtcd un thc
<br /> Pruperty in�ured agiiin.t I��+� hy tirc, harurd. includcd within thc tenn "rxtcndcd a�vcra�;c"anal any mhrr hai+ir�L,, inrb.tdin�
<br /> Il����d���r fluaxlin�. li�r which l.cn�icr rcyuirc�intiurancc. Tf►i�insur:encc�h.dl hr mainwincd in tiic unuHint+��n�l fur thc peri�xl�
<br /> thut ltindcr rcyuirc�. "('hc in.urunrc�arricr proviJing thc in.urancr .hali hc rhu,rn hy l�urro�v�-r�uhjcct tu I.cnd�r'�appruv,d
<br /> which tihull nat hc unrca,unahly witht�rld. If Burn�wcr fails tu m;►intain cuvcra�r dcxrib�J nl�u�•c. l.�ndcr may. al I.cnder'h
<br /> uptii,n. ubtuin cuvcrage tu prutuct l,tndcr'ti ri�:htti in Ihc Pruperty iu uccordancr with parugruph?_
<br /> All insun�ncc�x�licics tuid rencwals shall hc acceptublc tii I.cndcr and shall inrludc .�+i���Jar�1 nn�rtga�c rluusc. Lcndcr
<br /> shall havc thc rlght to hold thc p��l icic� amd rene�valti. If I.�ndrr rcquirc�, Hurruwcr shall pruu�pt!y�ivc I�� l.cn�lcr:dl rcrcipts cif
<br /> paid premiums and renewul noticc4.In thc cvent of luss,&�rrower tih�dl givc pmmpt notice tothc insurancc rurricr mid Lendcr.
<br /> I.cndcr mAy make prcx�f of loss if not mudc prnmptly hy Bc�rrowcr.
<br /> Unless Lender and Borrower athenvise agree in writing,insurance procceds shall bc applicel to �c+ii��ation or rcpair of the
<br /> Pruperty dum�gaci,if the restara[ion or rcpair is ccanomicully feasiblc unJ l.endcr's sM:urity is n��t IcsuncJ.If thc restorutian or
<br /> repair is not ecan�mically feusible or Lender's recuciry would be Iessened,the insurance pnreceds shull be applied ta the sums
<br /> secured by this Sesurity Instrument,whcther or nat thcn due, with any cxcess paid to Borrowcr. If Borrower abandans the �
<br /> Pic,peny,or daes not unswar �vithin 30 days u notice from l.ender that the insurance carrier ha�offeral to setde a claim,then
<br /> Lender may collect thc insurancc pro�eeds. Lender muy uxe thc procccds to rcpair or restarc ihc Propery or to Qi+y sums
<br /> secured by thia Security Cnstrument,whether ar nut then due. The 3p-day periai will begin when the ndice is given.
<br /> Unless L.ender and Borrower othenvise a�ree in writing, uny upplicution af praceeais tu principul sh31! not extend ar
<br /> postpone the due date of the monthly payments rcfcrrcd to in par.igmphs ! and 2 or changc t hc amount of the payments. If
<br /> under paragraph 21 the Pcnperty is acquircd by Lender. Borrower's right to any insurance polic ies and proceeds resulting fram
<br /> damage to the Property priur to�►e u�yuisition shull pass to Lcndcr ta thc cxtent of the surtLS secelred by this Securiry instn�ment
<br /> immediately prior to the acquisition.
<br /> 6. Occupancy,Preservat[on, Maintenance and Protection of the Prope�ty;Borrower's I.oan Applicatton;Leaseholds.
<br /> 9orrower sl�all oecupy.establish,and use the Property as Borrower's principal residence within sizty dnys after the execution of
<br /> this Security Instrument and shall continue to accupy the Property as Harrower's principal residence for at least one year ufter
<br /> the date of accupancy,unless I.ender otherwise agrees in writing,which consent shall not be ur�rcasonably withheld, or unless
<br /> extenuutin� circumstances exist which are beyond Borrowei s control. Borrower shall na datroy, dnmage or impair the
<br /> Property, altow the Property to deteriorate. or commit waste on the Property. Borrower shali be in default if uny forfeiture
<br /> action or proceeding, whether civil or criminal, is begun that in Lender's good faith Judgrrxnt could resutt in forfeiture of the
<br /> Property or otherwise materially irnpair the lien created by this Security Instrument ar Lender's saurity interest.Borrower may
<br /> cun such a default nnd reinstate,as provided in paragrnph 18,by causing the action or procadi�g to be dismissed with a ruling
<br /> ihnt, i�� i.C��ier's ��t'aith .�«e:ir�r.at'saa. prulucl� farfeitn:�Qf tls� �m�+we:s iIIt!'�t in �he Property or other material ,
<br /> impairenent of the lien createxi by this Security Instrument or Lender's security interest. Borrower shall also be h�default if
<br /> Borrower.during the loan application process,gave materiaUy fsilse or inaccurate infomwtionor statements to I.ender(or failed
<br /> to provide Ixnder with any mnwrial information)in cannection with the loan evtde.nood by the Note.inclttding,but not limited
<br /> to,rcpnsentations concerning Borrower's occupaney of the Propercy us a principal t+asidence,If' this Sauriry Inst�ument is on a
<br /> leasehold, Borrower shull comply with all the provis[ons of the lease. If Borrnwer acquircs fee title to the Property. the
<br /> leasehold and the fee tide shall not merge unless Lender agrees to the merger In writing.
<br /> 7.Protectioa ot I.ender's Rights in the Pmperty.If Borrower fails to perfortn the covenar�s ancl agreements wntained in
<br /> tbis Security Instrument, or there is a legal proc�eding that may significandy affect I,ender a rights In the Property (such es a
<br /> proceeding in banlwptcy,probate,for condemnatlon or forfeiture or to enforce laws or reguladons),then T.ender may do and
<br /> pay for what�ver Is necessary to protect the value of the Pmperty end Lender's rights in the Property. Lender's actions may
<br /> include paying any stuns secured by a lien which has pr[oriry over this Secudry Instrum�n6 appearing in court. paying
<br /> �easonablc att�rneys'fees ancl entcring on the Property to make repairs.Although L.ender rn�y take action under this paragt�ph
<br /> 7. Lender does not have to do so.
<br /> Any amounts disbursed by Lender under Wis paragraph 7 shall bocome addidonal debt of Borrower secucod by this
<br /> Suurity Instrument. Unless Borrower and I.ender agrce to other terms of payment, these amoums shall bear Sntecest from the
<br /> date of disbursement at the Note rate and shall be payable,with interest, upon notice from Le�cler tu Horrowcr roquesting
<br /> pflyment.
<br /> 8.Mortgage Ltsunace.If Lender required mortgage insurence as a oondition of rtwking ��e loan secu�od by this Security
<br /> Inswment. Borrower shall pay the premiums roquired to maintain the mortgagc insurAnce in effect. If,for any rcason. the
<br /> mortgagG insurance coverage required by L.ender lapses or ceases to be in effect.Horrower shall pay the premiums required co
<br /> obtatn coverage substanNally equivdent to ths mongage insurence previously in effect.at acos;substantielly equivalent to the
<br /> cost to Bonower of the mortgage insurance previously in effecc, irom an alternate mortg�ge insurer approved by I.ender. If
<br /> substantially equivalent mortgage i�urance coverage is not available,Borrower shall pay ta I.�nder each month a sum equal to
<br /> one-twelfth of the yearly mortgage insurance premium being paid by Bomower when the insurance covorage lapsed or ceased to
<br /> be in effect.I.ender will Accept,use and retain these payments as a loss reserve in lieu of moitgage insurunce. Loss reserve
<br /> Fam 302Q 9180
<br /> Vp�3 of 6
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