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<br /> S. Haaard ur Property Insurnnce, Borrower shall kecp thc improvememti iww exis ing on c�rcaRer crectcd on tho
<br /> Property insured ngninst loss by fir¢, hiunrds included within thc tcrm "cxtencicd c��vcr�gc" m�d nny cnhcr hwurds, including
<br /> flaods ar flcwding. fur which I.cnder requires insurance. This insuranre shull I�c muintaiixd in thc umounta mxi fi�r dic peric�ds
<br /> that I.endcr rcyuir�w. Tl�c insurancc curricr providing thc insuruncc shcdl hc dwsc�i hy eorrowcr subJcct tu I.cndcr's sipprc�vnl
<br /> which st�all not bc unreasonably withheld. If Borrowcr fuils tu malntuin covcrugc dcurit►cd abuvc, L.cndcr nruy,nt A.cniicr's
<br /> QPIIOII.obtnin covcragc to protcct Lcnder'E rights in thc Propeny in ucr��rdunrc wUh paragruph 7.
<br /> All insurance pollcles und reixwuls shall bc acccptnblc tu L.cnder�uxl shull iucludc u st.axlurd mnrtgi►gc rinusc. l.endcr
<br /> shall huve the right to hold the pol lcies and renewuls.If Lender reyulre5,Hnrrower�hall prnmpUy give ta Lendc�all receipts of
<br /> puid pmmiums and cenewul notices.In the event of lass.Bottowcr tihull givc prcmy►t natire to the Insuruncc ci�rrlcr und Lcncicr.
<br /> l.ender may mnke proof of loss if not made pramptly by Borrower.
<br /> Unless L.ender and Aorrower dherwise agree in writing, insurnnce pracecds shall be oppUod to r�cstaratian or rcpuir of thc
<br /> Froperty damagal. if the restoratian or repair is economicullly feasible und Lender's security is nat lessened. if the re.storntion or
<br /> repuir is not economicaUy feasible or Lender's security would be Iessened, the insuranca proceeds shall be upplied to the sums
<br /> secured by this Secudry Instrument,whether or not then due, with any exccss puid to l3orrower. If Borrower ubandons ttie
<br /> � Property. or does nat answer wtthin 30 days n notice from Lender that the insurance cnrrier hos offered ta r,ettle u cluim, then
<br /> Lender mny collect the insurance proceeds. Lender muy use the pracads ta repuir or restore the Property or to pay sums
<br /> secun�by tliis Security�Instniment,whether or not then due,The 30-clay perirxt will hegin when the n�dce is glven. __
<br /> � Unless L.ender and Barrower othctwisc ugree In wdHng, any npplicntion of procceds ta principal shull not extend or
<br /> postpone the due date of the monthly payments refcrred to in Purngraphs 1 and 2 or changc thc nmount of the payments. If
<br /> under paragraph 21 the Properry is acquimd by Lender.Borrower's right to any insurunce policies und praceeds resulting fram
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Securtty Instrument
<br /> immediately prior to the acquistt�on.
<br /> . 6.O�cupancy,PreservAtion, Maintenance and Protection of the Propetty;Borrower's I.oan Applicatton;l.easeholds.
<br /> Borrower shall occupy.establish, and use the Property as Borrower's principul residence within sixry duys ufter the execution of
<br /> Y this Security Instrument and shall rnntinue to occupy the Property us Bonower's principal residence for at leust one yeaz ufter
<br /> � the dute of occupancy,unless Lender otherwise agrees in writing. which consent shull not be unreusonably withheld, or unless
<br /> extenuating clrcumstances exist which are beyond Borrower's control. Bonower shall not descroy, dumage or impafr the
<br /> _ Propernr; nll�w thr Pmnerty tn deteric�rate, or comtnit wsisste on the Property. Borrower shull bc!n default if uny forfeitun
<br /> actton or proceeding. whether civil or criminal, is begun that ln ixnder's good faith judgment could result En forfeiture of ttie
<br /> Property or otherwisc matertally impair the lien created by this Socuriry Instntment or[.ender's security interest. Borrower n�ay
<br /> cure such a default and re[nstate,fts provided in paragraph 18.by causing the action or proceeding to be dismissed with a tuling
<br /> that, in Lender's good faith deternilnation, precludes forfeiture of the &►rrower s interest In the Property or other material
<br /> 'Y impairn�ent af the lien created by thls Securiry Instrument or L,ender's security interest. Boaower shall nlso be in default if —
<br /> 'j �orrower.during the loan applicatlon praess,gave materlally false or inaccurate information ar statements to l.ender(or failed
<br /> '� to provide Lender with any material infarmat{on)in connection with the loan evidencal by tite Note, tncluding,but not Umited
<br /> � ta,�presentations concerning Borrower's occupancy of the Property as a princip�l residence.If this Security Instnunent!s an n
<br /> .� leasehold, Bonower shall comply with ail the provisjons of the lease. If Borrower acquires fee tide to the Property. the
<br /> Icasehold and the fee title ahall not mersc unless Lcnder agrees to the merger in writing.
<br /> � T.Protection of I.ender's Itig6ts in the Pi+operty.If Borrower fsils to perform the covenants end egreements contained in
<br /> this Securlty Instnutxnt,or there is a Icgal proceeding that may stgnificantly affe�t LendePs rights in the Property(such as a
<br /> proceoding In bankruptcy,probate,for condemnatIon or forfeiture or to enfArce laws or regulations).then Lender may do and
<br /> '� pay for whatever is necessary to protect the value of the Property and Lender's�ig6ts in the Property. Lender's octions avy
<br /> • j include paying any sums securod by a lien which has priority over this Security Instrumeat, oppearing In court. paying
<br /> �'< reasonable attorneys'ftes end entering on the Property to make repairs.Although Lender mny take action.uader this par�grap6
<br /> . 7.Lender does not have to do so.
<br /> ,,� Any amounts disbursed by Lender under this paragraph 7 shall becomc eddidoanl dcbt of Borrawer securcd by thia
<br /> • . Securlty Instrument. Unless Borrower and Lender agree to other terms of payment. these umounts shall bear interest from t6e �
<br /> • ' date of dfsbursement at the Note rate and shall be payable. wtth interest. upon nodce from Lender to Borrower i+equesting
<br /> �
<br /> � ' payment.
<br /> � S.Mortgnge Insurance.If Lender required mortgage insurance us a condidon of making the loan secured by this Securiry !
<br /> ; Instrument, Borrower shall pay the premiums reyuired to maintain the mortgage insuranc�s in effect. If. for any reason. tho �
<br /> mortgage insurence coverage required by i.ender lapses or ceases to be in effect,Bvrrower shall pay the premiums required to i
<br /> • obtain coverage substantlelly equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the
<br /> , cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by L.ender.If i
<br /> • substantially eyuivalent mortgage insurance coverage is not available,Borrower shall pay to Lendec each month a sum equul to
<br /> one-twelfth of the yearly martgage insurence premium being pAid by Borrower when the insurance cov�rnge lapsed or ceasod to
<br /> � be in effect.Lender will accept,use ond retain these payments as a loss reserve in licu of mortgage insurance. Loss mserve �
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