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201207890
<br /> All insurauce policies required bq Lender and renewals of such policies shall be snb,ject to Lender's rigfit to
<br /> disappxove such policics, shall include n st�andard inortgage clause, and ehall ne�ve Lencicr as mortgagee
<br /> and/or as �n additional loss pnyee. Lendcr ehall havc the right to hold Che policies anc1 renewal certil"icatos. lf
<br /> I.ender requiras, Borrower shall psomptly give to Lender nll rcceipts of paid preinimns and renewel noticea.
<br /> IP Bon owor obtains any form of insurauce coverage, not otherwise reqturad by Lcndcr, ftir damage to, or
<br /> dealrucEion of, 11�e Pro�3crLy, such policy sha71 include astandard mortgage clauae and shall namo Londer as
<br /> mortgagee anclfor as nn ndclitional lose payec.
<br /> In the event of lose, Boreowcr shall {;ive prompt notice to tlie instuance carrier And Lender. Lencier n�ay
<br /> meke proof of loss iP nof made p�nmptly by Bor+owc��. lh�le�s Lender and Rorrower o8ierwiae�gee in
<br /> writing, �ny insurftnce proceeds, whether or not Lhe uncierlying insurunco was required by I,ender, shall be
<br /> npplied fo res[oration or rcpair of tha Property, if tl�e restoration or repair is economionlly feasible and
<br /> Lender's securiry is not leasened. During s�wl�rcpair and restoration period, I,ender shall have the right to
<br /> hold such insurance prooeede unYil Lender hea Lpd an opl�artuuity eo iivspect sucl�Yroperty to ensuze the
<br /> wark l�as bee�� cornpleted to Lencler's satistaction, provided fhat sttch inspec6on shnll be undertaken
<br /> pxomptly. Lender may disbursc proccods for thc r�pairs and restoratian in a siugla payinent or in a series of
<br /> progress payments ns the worlc is oompleted. Uiiless an apreoment ie made in writiug or ApplicaUle Law
<br /> reqnires interest Co be paid on such insureuoe proceeds, Lender sh�ll not be required tc�pay 13c�rrowcr�uiy
<br /> interost cir earnings on such prnceeds. Fees fbr public adjuetees, or-other third parties, retained by Borrowcr
<br /> shall noU ho pa�id nut of tl�c insurance proceeds aud ahall be the sole obligation of Borrower. Tf the restioraCion
<br /> or repair is not econonlically 1'easiUle or Lender's cc,rourity would Ue lesseued, the insmance procceds shall be
<br /> appl�ed Yo Yhe sums secured by this Security InsLrumenC, whetl�er or not Chen ciuc, with the excess, if auy,
<br /> paid to 13orrower. SLach ivaurauce proceeds ehall be applied in the ordez provided for in Seclion 2.
<br /> Jf l3orrower aUqndons the Propertiy,.Lender may file, uegokiate culd settle any available insurance claiu�at�d
<br /> relaled inaLtcrs. IP Bnrrower docs not respond witl�in 30 days to a notice fi'om Lendsr th�t the insurznce
<br /> carrier hns offexed to settle a claim, lhen Lender nlay negotiate and sottic tho claim. The 30,day period will
<br /> Uegin wheu the notice is given. In either event, or if Leuder acquires th�Propexry undcr Section 22 or
<br /> otherwise, Borrower hereby aseigus to Lender (a)Borrower's rights to any insnrpnce proceecls in an�moLmf
<br /> noC Lo oxaced tho amounts unpaid under the Note or this SecuriCy InatrwnenY, and(b) nuy other of
<br /> Borrower's rights (other th�i Ihe rigl�t to any rc:fund of uncarned premimns puid Uy Borrower)mider �11
<br /> inam•ance policies covering tlie Property, insof'tu as such rights su•e npplic�ble to the coverpge oP fhe
<br /> Properly, Lendcr may usc thc insw�ance proc�eds either to repair or re,store the Property or to p�y emoui�ite
<br /> uupaift under the Note or this Security Inshuinent, whether or noC fl�cni due.
<br /> 6. OCCUpancy. BarA•ower ahall occupy, esCabliah, and use fhe Propen�l}�as Borrowcr's principal residence
<br /> within 60 days af'ter the e�ecution of this Security Instrwl�ent end shall continue to occupy the Property as
<br /> Borrowor's principal residc��cc Por at least one yeEu after the date of occupaney, uuless Lander ofherwise
<br /> egreea in wri6ing, which consenC shall noC be unreasonably wifhhcld, or�mlcss exteuuating oircmnstaa�cee
<br /> exist which u�e beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. R�rrowcr sl�all not destroy,
<br /> dunage or irnpair the Property, a11ow the Property to deteriorate ox connnit waste on Che Property. Wl�eth�r
<br /> nr not 13orrower is resid'mg in Uie Property, Borrowar shall mtintain Cha Property in order to prevent ihe
<br /> Property Grom deferioraf.ing or decrcasiug in valuc du¢to its condition. Onless it is determined pw�su[urt Yo
<br /> Seotion 5 thaR repflir or t•estor�tYion is not economi�oally fensible, Borrower e1i211 pinmptly rcpair the Properry
<br /> if damaged to auold fiuther deterioration or darnag�e. If ineucanoe oi condemnation proceeds are paid ixi
<br /> , oomiection witih damage�tp, or tl�o�taking of, tl�e Property, Rorrower sUall Ue responsible for repairing or
<br /> restoring the Property onlp i£Leuder has released proceeds Por such purpoee,x. Lcndor may disUm'se proceeds
<br /> aaoozszo
<br /> NEeF2A9KA-Single Femlly-Fannle MaelFfeddis M eo UNIFORM INSTRUM ENT Form 3020 1/01
<br /> VM P'� VM P6(NE}(7105}
<br /> W�ollera Kluw er Flnanalal Servlcea Pnpe 9 of V
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