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<br /> ' S. H�zard ar Praperty Insurance. Aorrower shall keep the improvementa now exiating or hereafter erected on "�� - .s
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<br /> the Property inaured against loss by fire, hazarda included within the terrn"extended coverage"and any ather hazards, -`-�=
<br /> including flooda or flooding. far which Lender requir�insurance. "I'his inaurance shall tse maintained in the amaunts „ '�• -
<br /> and for the periods that l.ender requires. "The insurance carrier providing the insurance ahall be chosen by Dorrowec� � • �'X.�'
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<br /> subject ta Lender's approval which ehall not be unreasonably withheld.If Borrower faila to maintain coverage described' '''•� �-•-
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<br /> � abo�•e, Lender mny, ut I.ender's option, obtnin coveragr t�protect I,ender's rights in the Pr�perty in accordance with � •••� °
<br /> ��M;T.—.,.-"---�-� --
<br /> paragraph 7. Ml *:�:;--
<br /> , , All insurance policies and rencwals ehall be aceeptable to I,ender and �hall include a stendard mortgaga cisuse ,ti;----
<br /> , � Lender ehall have the right to hold the policies and renewals. If Lender requires, Borcower shall promptly give to�.► __
<br /> ' Lender aU receipta ot paid pr�miuma and ren9wal notices.In the event o[loss. Borrower shall give prompt notice to theQ - --
<br /> " insurance carrier and Lender. I,ender may make proof of loss if not made promptly by Borrower. !ri _
<br /> Unless I.ender and Borrower otherwiae agree in writing,insurence praceeda shall be applied to restoration or repairW _Y
<br /> of the Property damaged,i{the rest�ration or repair is economically feasible and Lender's security is not lessened. If the - -- --
<br /> restoration or repai r iA not economically feasible or Lender's security would bcs lessened,the inaurance proceeds shall be =_
<br /> applied to the sums secured by this Security Instrument,whether or not then due,with any excess paid ta Bonower.If =
<br /> ' Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the�nsurance carrier has �• -
<br /> offered to settle a claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or '''��
<br /> restore the Property ar to pay sums secured by this Security lnstrument,whether or not then due.The 30-day period will =-
<br /> � begin when the notice is given. '=_y.
<br /> Unless Lender and Borrower otherwiso agrec in writing,any application of proceeds to principal shall not extend or � .
<br /> , postpone the due date of the monthly paymenta referred to in paragcaphs 1 end 2 or change the amount of the payments.
<br /> � If under paragraph 21 the Praperty ie acquired by Lender, Borcower's right to any insurance policies and proceeds
<br /> .� resulting from damage to the Property prior to the acquisition shall pass to I,ender to the extent of the sums secured by
<br /> this Security Instrument immediately pnor to the acqwsition.
<br /> 6. Occupancy.Preservation,Maiatenance and Protection of the Property; Borrower's Loan Application;
<br /> �� LeaseholdR. Borrower shall occupy,esteblish,and use the Property as Borrower's principal residence within sixty deys _-
<br /> -� a[ter the execution ot this Security Inatrument and shall continue to occupy the Property ae Borrower's principal -
<br /> residence for at least one year etter the data of occupancy,unless Lender otherwise agrees in writing,which consent ahall
<br /> ' not be unreasonably withheld,or unless extenuating circumatances exist which are beyond IIorrower's control.Borrower -
<br /> � shall not destr�y,damage or impair tha Property,ellow tha Propecty to deteriorate,or commit waste on the Property. r� _
<br /> Horrower shall be in default iteny forfeiture action or proceeding, whether civil or criminal, is begim that in Lender's
<br /> gc,od taith jijdgr�ar�i�ovld r:.onit ia fartcstur:,of .hc Praperi;;ar aihsr�:ia rnaterially impa':r:he licn�r..aL�hy this —
<br /> � Secority Instrument or Lender's s�curity interest. Borrower may cure euch a default and reinetate, es provided in -
<br /> paragraph 18, by causing the action ar procceding to be diamissed with a ruling that, in Lender'� good feith
<br /> determination,precludes forfeiture oi the Borcower's interest in the Property or other material impairment of the lien �--�--
<br /> created by this Security Instrument or Lender's security interest.$orrower shall also ba in dafault if Borrower,during ;����'_
<br /> the loan applicatinn pracess. gave meterialty false or inaccurate information or atatements to Lender (or taile�to
<br /> provide Lender with any material information)in connection with the loan evidenced by the Note,including,but not
<br /> limite,d to, representations concerning Borrower's occupancy of the Property ea a principal residence. If thie Security �':;
<br /> Instrument ie on a leasehold, Borrower ehall comply with all the provieiona of the lease.If Borrower acquires fee title to
<br /> the Property,the leasehold end the fee title shall not merge unless L,ender agrees to the merger in writing.
<br /> 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenanta and agreements --
<br /> contained in this Security Instrument,or there is a legal procading thot may significantly affect Lender's rights in the -
<br /> Prop�,rty (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce lawa or _—__
<br /> regulations),then I.ender may do and pay for whatever is necessary to protect tne value of the Property and I,ender's _—_
<br /> rights in the Property. Lenders actions may include paying any sums secured by a lien which has priority over this .------
<br /> Security Instrument,appearing in court,paying reasonable attorneys'fe�s and entering on the Property to maka repairs. �- _
<br /> Although Lender may take action under thia paragraph 7,Lender does not have to do so. ��=°�_'
<br /> � Any amounts diebursed by L,ender under this paragraph 7 shall becorne additional debt of Borrower secured by this . `=-
<br />- � Security Inetrument.Unless Borrower and I.ender agrea to other terms ot payment, these amounta ahall bear interest + ��`��__=-
<br /> � from the data of disbursement et the Not�rate and shall be payable,with interest,upon notice from Lender to Borrower � '
<br /> requesting payment. - - ---
<br /> _ 8. Mortgage Insurance.If Lender required mortgage insurance as a condition of making the loan secured hy this `�
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<br />_ Security Instrument,Bonower shall pay the premiums required to maintain the mortgage inaurance in effect.It,for any `� -- . c._:„,.._ �?,
<br /> - reason, the mortgage insurance coverage required by Lender lapses or ceases to be in ef4ect, Borrower ahall pay the . r�� • . ..:�":,`-.��
<br /> premiums required to obtain coverage substantially equivalent to the mongage inaurance previously in eftect,at a wst ��''.'�,��',�``�Y,.
<br />° substantially equivalent to the cost to Borrotver of the mottgage insurence previously in effect, from an alternete '. ' `��`�' '
<br />� I mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not nvailable, '"`�°��°= �
<br /> Borrower shall pay ta I�ender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being �
<br /> _ i paid by Borrower when the insurance coverage lapsed or ceased to be in effect.Lender will accept,use and retnin these
<br /> � payments as a loss reserve in lieu of mortgage insutance. Loss reserve payments may no longer be required,
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