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201209310
<br /> All insm�anca policios required by Lender And reuewela of such policies shall Ue subjecC to Lcnder's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and sha11 name Lender ns morCgagee
<br /> and/or�us xn additi�nai l�se payee, l.ender sha11 have ilie right to hold the policies ttnd renewal certificates. Sf
<br /> Lende��requirea, BoTrower ehall prompLly give to,Lender all recoipts of paid premiwns ;md renewal notices.
<br /> If Bonrower obtaitia any forrn of ineurance eoverage, not otherwise raluired by Lc��dor, for damage to, or
<br /> destruction of, the Property, such�olicy sha11 includa a stnndm�d mortgnge clause nnd shnll nntne Lender as
<br /> ii�ortgagec avdYor as an addifional 1osh payee.
<br /> In tho evcnt of]oss, Bor�r�war shall give pranpt uotice to tl�e insurance c�v�rier and Lender. Lender may
<br /> mAke proof of loas if not m�de promptly by Borirower. Unlesa Lendnr and Borrow�r c>Ylterwiso agree in
<br /> writing, any insw•ance proceeds, whether or not the underlying insurnnce w�s required by Lender, shall be
<br /> ap�lied to eestorafiou or i'epair of the Propcety, if the rostonation or repair is economically�Feaeible and
<br /> Leuder's seom�itq is noC lessei�ed. During si�ch repair and restoration pcei�d, Lcndcr shall have t1�e right to
<br /> holcl such insurance proceeds until Leuder h�s had nu opportunity to it�speet such Proper[y Co en�ure fhe
<br /> work has been completed to Landar's satisfaction, provided that such inspection stk�ll be undertAken
<br /> promptly. Lc�ider may disburse proceeds for fhe repfiirs and res'toration in a single payment or in a series of
<br /> pxogreas paymenCs as the wark ie oon�ipleted. Unless an agreemenC ie made in wriGng or Applicahlc Law
<br /> requires iuterest to be paid ou such iusurnnce proceeda, Leuder shall not be required to pay Borxower�ury
<br /> intcres{or camings on suc1� proceeds. Fees for public adjt�stera, or oflier 1liird pv'tiies, retained by Borrowes
<br /> shall not l�e paid out of the insuranee proneeds and shall be fhe sole ol�ligation of Borrowcr. ]f thc restoration
<br /> or repair is uot economically Peasible or Lender's security would be lessened, the insurnnce proceeds shall be
<br /> ap,plied to fl�e sLuns secLued Uy tliig Security Histnunent, whellier or not tlien due, with the excees, if any,
<br /> paid to Borrawec Such insGrancc proce¢ds shall be apUlied in t1�e order provided For in Secflon 2.
<br /> If Borrowcr abandons the Property, T,ender may file, negotiate and settle airy aveilable insurence claim�ucl
<br /> related m2ttexs. If Borro�ver does not respond witl�in 30 daye to Ei notiae from Lander tliat the insurance
<br /> carrier hes offered to settle a claim, then Lender v�ay nego�inte and�eCtla Che claim. 'I'hc 30-day Weriod will
<br /> begin when the nofice is given. In either evenY, or if Lender acquirea the Proper6y under SecCion 22 or
<br /> oCherwiae, Borrower horeby assigns to Londe�'(a)Borrowor's rights to any insm�ance proceeds in an amnunt
<br /> not to exceed Yhe amonnts unpnid tinder the Note or Chis SecnriLy Inshruincnl, and(b) any�other of
<br /> Borrower's rights (other tlian the right to aary re£wid of unearned premiums paid by Borrower)under�11
<br /> insureuice policies covering the Propexty, insofnr�s suoh righis arc applicnblc tn the cove�'age of the
<br /> Property. Lander may use the insurence proceede either to re�nir or restore the Property or u>ptiy vnouuts
<br /> �mpaid undcr fl�e Note or this Secw�ify Iustrmnent, whathei or not thon due.
<br /> 6. Occupancy. Boirower shall occupy, e,staUlish, evd use fhe Property Ae Borrower's principnl residcncc
<br /> wiChin(0 days aftnr fl�e executio�i of this Security Instiument and sliall contiuue to oceupy the Prope��ty as
<br /> Borrower'a prinoi�al resicleuce Por af leaFt one ycar afLer tUe date of occupancy, unless Lender oSl�erwise
<br /> agrees in vreiting, wlrich consent shall not be unreasonably witlilield, or unlesa exCon�iating circumstances
<br /> exist which are beyond Borrowct's cont��ol.
<br /> 7. Preservation, M aintenance and Protection of the Property; Inspections. Borrower shnll uoc descroy,
<br /> daanage or iitipair the Pi•operty, allow the Property L�o deCerioraCo or commit waste on tl�e Property. Whather
<br /> or not Rorrowex is reaiding in tha Property, Borrower shnll maintein the Property in orcler to prcuent the
<br /> Properfy fi�oin deteriorafii�g or decre�siug i�i valtte due tio its condition. Unless it is determined pnrsiu2nl to
<br /> Section 5 lliat repair or restnration is not.cconomically feasiUle, Borrower shall promptly repair the Property
<br /> if dttmaged W nvoid fiuther deteriora[ion ox dan�age. If insiu�ancc or conciemuation proceeds aa'e paid in
<br /> comiection with daanage tio, or the taking of, the Property, Borrower shall be responsrUlo for repairiug or
<br /> resCoring tho Yroperty only if l,ender has released proceeds for such purposes. Lender mny disbiirse prooccds
<br /> znoozess
<br /> iVE6RA51<�Single Fomity-FanNe MeelFroddlo Mno UNIFORM INSTRUM ENT Porm 3020 1101
<br /> VMP� VMP6(NE)f11051
<br /> Wollera Kluwer Rnenolal3ervicas Page 1 oi 17
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