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<br /> ' S.Haxard or Praperty InaurAnce. Bonowcr shall kccp thc improvcrncnts now cxisting on c�raaftcr crccted on thc Praperty _
<br /> insured against loss bY C►rc.ha•r.:uds includcd witDiin Ihc tcrm "extendcd covcragc" and any othcr har.nrds, including floods or
<br /> t7c�ading.for which L.endcr rcquirc.s insurancc.This insurt�ncc shall bc mainuuncd in Q�c amoun4�and tor the periods thnl I.endcr �
<br /> � �4 rcquires.Thc insurencc cturicr providing thc insurancc shall be choscn by Borrowcr subjcct to Lendcr's approvnl which shall not .
<br /> be unrcasonebly withheld. If Borrower fails to maintain coverage described atwve, l.ender may, at L.ender's option, abuuny
<br /> covcrage to protect L.ender's rights in the Propeny in accordance with paragrnPh 7• ;;�
<br /> All insurnncc policics and renewals shall bc Acceptablc to Lcndcr end shall includc a standard mongagc clnuse.l.cndcr shall � .
<br /> have the right to hold the p�licics and renewf lossf Bo ower�shall gi a�p ompt notice to the nsurance camerrund L.ender,L.ender� " `
<br /> premiums and rencwal notices.In the evcnt o , � �. �_;
<br /> may make proof of loss if not made promptly by Bonower. �`-_•
<br /> U n l e s s Lendcr and Bonower otherwise agrec in writing. insurancc proceeds shall be applied to restoraaon or rcpair of thc�
<br /> Property clemagcd,if the reswration or rcpair is econo�nicaUy fcasible and Lendcr's sccurity is no t lessen c d.I f t h e r e s t o r a t i o n o rN
<br /> repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be appliccl to�he sums� .���.�:-;
<br /> secured by this Seciuity Instrument, whether or not then due,with any excess paid co Bonower. If Boaower abandons the ' :.;�
<br /> Property,or does not answer within 30 days a n�tice from Lender that the insurance carrier has offered to settle a cleim.ehen ,•';��:
<br /> � Lcnder may coUccl the insurance procceds.Lcnder may use thc proceeds to repair or restorc the Property or to pay sums securc:d ';�_.
<br /> � nod wiU begin when the nodcc is given. �;r��:,�_
<br /> . .� by this Security Instrument,whether or not then due.The 30-day pe '
<br /> Unless Lender an d Borrower o t herwise a g r e e i n wri t i n g,an y a p plication of proceeds to principal shall not extend or postpone ����?�-
<br /> � the due date a f t he mon t h ly payments referred to in paragrnPhs 1 and 2 or ciiange the amount of thc payments.If undcr paragraph :�,�.��-
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<br /> ,� 21 the Property is acquired by Lender,Aonower's right to any insurance policies and proceeds resulting from damege to the :;. _:
<br /> . Property prior ro the acquisiuon shaU pass to Lender to the extent of the sums securcd by ihis Security Insaument immediately .:;
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<br /> prior to the acquisition. `�� �'� ' :
<br /> 6.Occupancy,Preservatiun,Meintenance and Protect[on of the Praperty; Borrower's Loan Appqcation;Leaseholds. ��` ,�•_����— �
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<br /> Bonower shall occupy,establish,ai►d use the Property as Borrower's principal residence within sixty days after the exccution of ` _
<br /> this Securiry Instrument and shall wntinue to xcupy the Property as Borrower's principal residence for at least one year aftca th� ��,�
<br /> -= daic of o:.cupar,c;. unless L"nd�� °��^"« �� in writinB, wh{ch wnsent shall not be unreasonably wlthheld,or unless ��
<br /> extenuadng circumstances exist which are beyond Borrower's control.Bonower shall not deslroy,damage ar impair i��cP�oix.riY� ------
<br /> allow thc Property to detcrioratc, or commit waste on thc Property. Boaower shall be in default if any forfciwre actfon or �i,�:_
<br /> prceeeding�whether civil or criminel,is begun that in Lender's good faith judgment could result in forfeiture of the Property ar ,:•.
<br /> othenvise materialiy impair the lien created by this Security Instrumenc or Lender's securiry intere.gG Bonower may cure such a �4-
<br /> default and reinstate,as provided in paragraPh 18,by causing the action or proceeding to be dismissed with a rulin8 thnt, in �;`
<br /> � Lender's good faith determination,precludes forfciture of thc Borrower's interest in the Property or othcr material impalrment of 4�--.
<br /> �" the Gen createti by this Security Instrument or Lender's security interes�Bortower shall also bc in default if Borrower,during the _
<br /> �,;' loan application process,gave materially false or inaccurate information or statemenis to Lender(or failed co provide Lender with -
<br /> •= any materisl informaaon) in connecuon with the loan evidenced by the Note, including, but not limited w. representaaons —
<br /> �� conceming Bonower's occupancy of the Propeny as a principal residence.If this Security Inshvment is on a leasehold,Bonower __
<br /> � shall comply with all the provisions of the lease.If Borrower acqu'ves fee tide to the Property,the leasehold and the fee title shall
<br /> not mcrge unless Leader agrees co the merger in writing. , _-__
<br /> � .j 7.Protection of Lender's Rights in the Property. If Bocrower fails to perform the covenants and agreements wntained►n __
<br /> . 8� this Securiry Instrument,or there is a legal proceeding that may significandy affect 1-ender's rights in the Property(such as a -__
<br /> proceeding in banlcruptcy,probatc,for condemnation or forfeiwre or t�enforce laws or regulauons},then Lcnder may do and pay ��
<br /> �. � for whatever is necessary to protect the value of the Property and Lendcr's rights in the Propeny.Lender's actions may include -;_
<br /> paying ony sums secured by a lien which has priority over this Sccuriry Instrument, appcaring ►n court,paying reasonable ,-.�;_
<br /> ' auorncys' fces and entering on thc Property co make repairs,Although Lendcr may takc action undcr this paragraph 7. Lendcr _ �
<br /> docs not havc to do so. ��q"�`�
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<br /> Any amounts disbursed by L.cnder under this paragraph 7 shall be�ome additional debt of Aorrower secured by this Security „
<br /> InstrumcnG Unlcss Bonower and Lendcr agme co other terms of payment, thesc a�nounts shall bcar interest from U�c date of ,,..
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<br /> � disbursemcnt ut thc Notc ratc and shall bc payablc,with interest,upon noacc from I.cndcr to Boaower requesting payment. r' i..t..�,,;'�•,•,.:,,
<br /> 8.Mortgage Insurance. If Lender required mortgabe insurance as a condition of making the loan secured by this Security �. '`'t;' .
<br /> Instrument, Bonower shall pay the premiums requiretl to maintain tho mortgage insurance in effect. If, for any reason, thc � -;:��;
<br /> '' mortgage insurance coverage n:quired by Lender lapses or ceases co be in effect,Borrower shall pay the premiums requaed to �, ., r.
<br /> obtnin coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substanpally equivalai�t w the
<br /> I cost to Borrower of the mongage insurance previously in effect,from an alternate mongage insurer approved by L.ender.If
<br /> substantially equivalcnt mortgage insurance coverage is not available, Bonower shall pay to L.cnder each month a sum equal to
<br /> � one-twclfih of the ycarly mortgage insurancc premium being paid by Borrowcr when the insurancc covcrage lapsed or ceased to
<br /> Ibc: in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> i Form 3028 9190
<br /> � ��•8R(NE)teziz�.o, Pepe�ol6 ���n,i�:
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