��14�5�75
<br /> part�f the f��operty is sub ec#ta a lien which car�a�ta�n prlori�y aver this Security Ir�strument, L�r�der may
<br /> g�v� Borrow�r a not�c� � ent�fy�ng �h� i«n, With�n �� days of the da�e on �vh�ch that not�ce is g�ve�,
<br /> Bo�ro�ver sha�� sa#isfy th�lien or�ake an�or more o��h�ac��ans se�f���h abave �n�his Se�tion q�,
<br /> Lender m�y require Bo�rower t� pay a an�wtime charge fo� a r�al e�ta�e fax v�riflcativn a�dlor
<br /> repar�ing service used by l�end�r in c4nn�c�i�n wi�h f�is L��an.
<br /> 5. Proper�y� Insuran��. Borrowe� shall keep the imp�ovements r�ow existing Q� h��ea�ter erec��d
<br /> Qn the Pr�perty insu�ed against foss by�ir�, hazards includ�d wi�hin the t�rm "exf�nde� coverag�," and
<br /> �ny other hazards inc�ud�ng� bu� not I�mited ta, ea�tnquakes and f�o�ds, for whi�h Lend�r requ�re�
<br /> �n�urance. This �nsurance shall be ma�ntained �n th� am�unts ��nc�udlr�� d��u�t�bl� lev�ls} �nd f�r �he
<br /> per�ods that Lender r��u��e�, Vlfhat Lende� r��u�res �u�suant �� �he pr�ced�ng sentences can chang�
<br /> �u�ing the te�m of the I�oan, The �nsurance carri�r provfd�ng tne �nsu�anc� shai! b� ch�sen by Barrower
<br /> subjec�t� l�ende�'s r�gh�ta d�sapprove garrower�s choice, which righ�sha�l n�t�e�xercise unreasonably.
<br /> Lender may requ��� Sorro�rer�a pay, in connec�i�n �rith this Laan, ei#h�r; �a� a one�time charg�f�r f�oo�
<br /> zv�e det�rmina�ion, cerfifica#i�n and trackin� s�rvices; or �b} a on���i�ne Ghar�� f�r f)�o� zane
<br /> dete�mination �r�d cer�if€cati�n serv�c�s and su�sequen# char�es �ach #�me r�ma�p�ngs �r sirnilar
<br /> �hanges o�cur which �easanably migh#affect such ��term�nat��n ar ce��if�catian. B�rrawer shall also be
<br /> responsible far the pay�nent vf ar�y fees impas�d by the �ederal Emergency Managemen� Agency in
<br /> �onnect�on w��h�he rev�ew of any flaod zone de�erm�nat�an r�su���ng from an objec�ion by Borra�ver.
<br /> lf Rarrower fa�ls�to ma�nta�n any of the c�verages descr�bed abav�, L�nder may ob�a�n insurance
<br /> covera�e, at Lender s op�ion and �vrro��r s expense. �.end�r �s und�� n� �b��gation ta pur�hase any
<br /> �articular �ype �r amount �f cov�rage. Therefor�, such �overag� snal� cover L�nder, but mi�h�or might
<br /> nof pr�tect Borr��er, Rorr�vv�r's equity in the �rop��ty, ��the �ontents of�he �rap�rty, against any risk,
<br /> ha�a�d or �iabil�ty and might prov�de �r�a#er ar i�sser �ov�rage #han �ras �r�v��usly jn �ff�ct. Borrvwer
<br /> acknowledges that the c�st a�the insurance c�verag� s� ob�ained m�ght s�gnifican�ly �x�eed the c�st��
<br /> insuranc� that �orrawer could hav� Qb�ained, Any amounts disbu�sed by l.end�r un�er this 5e�tion 5
<br /> shali becvme�ddi�iona� �eb�of Ro�r�wer s�cured by this �e�urity Instrument. These amaun�s shail bear
<br /> interest at �he No#e �a�e from �he date of disbu�semen� and shal� b� payable, w�th such in���es�, u�on
<br /> na#�ce from Lender t� Borrower r�quest�ng �aym�nt,
<br /> AI� insuranc� po#icies �equired �y Lender and r�newa�s of su�h po�icies shaii b� sub���# to Lender's
<br /> right tv disapprove such p�l�cies, shal! inc�ude � s#andard rnortgag� clause, and shall nar�e L�nd�� as
<br /> mor�gage� andlo� �s an addit��nal loss pay�e, Lender shal� i�ave the right �a hold the po�icie� ar�d
<br /> renewal ��r�ificates. If L�nder r�quires, Borr4w�r sha�l prompt�y give �� Lende� alf receipts �f pafd
<br /> �rem�ums and r�newal no�iee�, If �or�awer �b�a�n� any for� v� jnsuran�e coverag�, not o�he�rvis�
<br /> �equ�red by Lend�r, for damage ta, or destruc�ian af, fh� P�oparty, such pali�y shal! include a s�andard
<br /> m�r�gage clause and shail name L,�n�er as mvrtgagee and{or as an addi�ivna� �ass paye�.
<br /> !n �he even� �f l�ss, �o�ro�ver sha�� give promp� no#ice �� �he �nsu�ance carrier and Lender, Le���r
<br /> may mak� proof of I�ss ��no# made promptly hy �orro�rver, Unless L�nder and Bor�vwer�therw�se �gree
<br /> �n wri�ing, any insuranc� praceed�, wh�ther or not the underl�Ing insuran�e r�vas requi�ed by Lender,
<br /> shal! be appli�d tc� restorat��n or ���ai� a� th� PrvRerty, if th� restoration or repair is �canami�ally
<br /> f�as��l� and �ender's secur��y is not lesse�e�. Dur�ng such r�pa�r and r�storatl�n �eriad, Lend�r sha�l ;
<br /> hav� #he r�gh� to hold such �nsuranc� �r�c�e�s un��f �,�nd�� h�s had an oppartu�ity �o ins ect suc�
<br /> Praperty �a ensure the wor�C has b�en com leted #o �,er�de�'s sa�is���tion rov� � � .
<br /> shall be under�ake o � � � p d d �ha� such �nspeGtlon
<br /> n pr mptly. Lender may disburse ��fl�eeds fvr the r�pairs an� res�ora��on ln � singl�
<br /> p�ymer�t�r in a se�i�s o�progress payments as th�work �s complet�d, l�nl�ss an ag�eement is made in
<br /> writing or Appl�cable Law requ�r�s �nterest to b� paid ari such insu�anGe prac���s, Lender shall not b�
<br /> r�qu�red �o pay Borrower any inter�s� vr earn�ngs on such proceeds, Fses fo� pubfi� adjusters, or other
<br /> th�rd pa���es, r�ta�ned �y Borrower sh�li n�t �e pa�d a�at �f the insuranc� proceeds and snall be fh� sole �
<br /> obligatian n�garrower. if the res��ration ar r�pair�s no��con�m�c�lly f�asibl� v� Ler�der'�s��u�i�y wou�d
<br /> he lessened, the in�u�ance pr��e�ds sha�� b� applied �o the sums secur�d by th�s S�curity �nstrumen�,
<br /> whe�ner or no� �hen due, �ri�h the exc�ss, i� any, pa�d �� Barra�rer. Such �nsurance proceeds shail b�
<br /> appiied in fhe arder�rovided��r in Sect�on �, �
<br /> lf Bor�ower a�andans the P�operty, L,ende� m�y file, negotiate and set�l� any avai�abfe insuran��
<br /> cfa€m and reiated matfers. ��Borrower �oes nat �espond wi�hin 34 days ta a natice fr�m Lender that the
<br /> insuranc� carrier has off�red to se�tle a c�aim, t��n La�d�r may negv��at� and set��e �he �laim. The E
<br /> 3D�d�y periad wi�� b�gin when th� notice is �iu�n. In e�the� ev�nt, �r if L�nder acquires �h� pro��rty �
<br /> under Sectfan 2� or��he�-wFs�, Barrvwer h�reby ass�gns �o Lender�a} Qarrow�r's righ�s #a any insurance
<br /> �roc��ds in an am�unt n�f to �xceed th� amaun�s un�a�d unde� #he Note �r �his Sec�r�ty �nstrument,
<br /> and �b} a�y other�� Borraw�r s rig�ts �oth�r than �h� r�gh� t� any refun� of unearned premiums �a�d by
<br /> �orrower} under ali insurance po��ci�s covering th� �rop�r�y, insofar as such ri�hts a�e appl�ca��e t� the
<br /> cov��age of #he Prope�ty. L�nder m�y us� the insurance p�oce�ds e�ther #❑ repair or ��store tn� �
<br /> P��per�y or�a pay amounts unpaid under th� Nafe�r this S�cu�i�y ���tr`um�nt, whe#h�r��nat then due,
<br /> �P�ge S a�1�}
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