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2� 1 ��3475 <br /> In the�vent af loss,Borrawer shal�give Lend�r imm�dia�e notice by mail, Lend�r may mak�proof�f <br /> Ioss if not mad�prom�t�y by Borrav��er. Each�nsuranc�c�mpar�y cortcerned is hereby authariz�d and <br /> direc�ed t�make payznent for such I�s�t�L�nd�r, ins�ead of to Borr�wer an�Len�ier j o�ntly.�nsurance <br /> �aroceeds sha1�b�app��ed�o r�storat�on�r repair�f�he damag�d Property, if�the res�oratifln or r�pair is <br /> �canomicaily feasible and Len�ier's s�cur��is not�essened. If the res�ora�ion or repa�r is n�t <br /> e�onomi�ally feas�bie flr I�ender's secu��tyr wou�d be iessened,�he insuran�e pr�eeeds shall b�applied <br /> first to�he reductifln�f any indebtedne�s under�he S�cond Note and this 5ecurity Instrument and then <br /> ��th�redu�tzon flf the indebtedness under the F�rst Note and First 5ecuri�y�ns�rumen�. An�ex�ess <br /> insurance�roceeds over an amaun�r��uired�a pay all outstandin�indebte�ness under�he Second Note <br /> and�his 5e�urity Ins�rument and�he First N�t�and�he Fir��Securi���ns�rumen�shall be paid ta�he <br /> enti�y legail�entit�ed there�a. <br /> Zn the e�ent of fore�lo�ure�f�h�s S�Guri�ty Znstrum�n�Qr o�h�r transf�r of ti�le tn�h�Prap�r�y tha� <br /> ex�in�uishes the indebtedness,al�righ�,title and inter�st flf Bor�rower�n and to insurance p��icies in <br /> f�r�e sha��pass�o�he�ur�h�ser. <br /> 4, aceupancy,Preserva�ian,Main��nan��and Prote�tian of�he Property; �3orrawer'� Lvan <br /> Appiicatinn; Leaseh�rlds,Borrower shali occupy,establish,and use�h�Pr-oper��as Borrower's <br /> Frinc�pal R�sidence after�he e�ecution of�l�xs Securit�Instrument and Borra��er�or at Iea��one <br /> Borrou�er, if initially more than an�persar�ar�B�rrowers)shal�contznue to occupy�he Proper�y as <br /> Borrower's Principal�esid�nce far the term�f the S�cur�t�Ins�rum�nt. <br /> B�rr�w�r shall nQ���mrr�.�t waste or destroy,damag�or subs�a��ial�y change�he Prop�r��or all�w th� <br /> Proper�y to deteriora�e,reasonah�e vvear a�d tear excepted. �3�rrower shail alsa be in d�fault if <br /> B�rrowe�,durin�the loan appl�ca�ion prac�ss,bave ma��rially false or inaccura�e informat�on or <br /> sta�em.ents�o Lend�r�ar failed�o prQ�ide L�ender with any material�nfarma�.ion�� i�connec�ion�i�h the <br /> �aan etiaidenced by�he Na��,in�luding,but no��im.��e�to,represen�a�ians conc�rning Borro�er'� <br /> o�cu�an�y of the Pro�er��as a Principal Reside�ce. �f th�s Se�urity Instrument is on a�easehald, <br /> Borro�ver sha�l�Qmp�y v�i�h�h�pro��sions�f�he Iease. If Borrow�r a�quxres fee�itl�to�h�Proper��, <br /> the l�aseh�ld and fee ti��e sha��not b�merged unles�Lender a�rees�o�he merQer�n�wri��ng. <br /> S. �harges tv I�arrovver and�'rotectiun of Lender`s Rights in the�'roperty. �orr�w�r shall pay al1 <br /> gQvernmen�al Qr municipa�char��s,fines and�xnposi�iQns�ha�are nQ�in�luded in Para�ra�h�. <br /> Borrawer shall pay these abl�gations on tim�d�rec�ly xo�he ent�t�which rs ow�d�he paymen�.Zf fai�ure <br /> to pay wou�d adv�rse�y affe��L�nder's in�erest in�he Proper��.up4n Lender's r�ques��orrow�r sha�l <br /> pr�mp�Iy furnish�o Lender r��eip�s e�idencin��hese paym�nts. Borra�ver sha��promp��y d�scharge an� <br /> lzen�hzch has�rior���r o�er�his Securi�ty�nstrument in the mann.er pravided in Paragraph 14�c}. <br /> �f Borrovsrer fai�s�o make�hese payments flr pay the proper�y�harg�s r�qu�red by Paragraph�,or fails to <br /> perfQrm.any o�h�r covenants and agreemen�s�an�a�ned zn�his Securi�y�nstrumen�,flr there is a legal <br /> prac�eding tha�may signifi�ant�y aff���Le�der's rights in the Pr�p�r-ty�such as a pr�c�edin��n <br /> bankruptc�,for�ondemna�ion�r�o enf4r�e�aws or regu�at�on�},�hen Lender may d�and pay whatever <br /> is necessary�o pr���ct the va�ue of t�ae Prt�per��and Lender's righ�s in�he�'roper�y,including pa}�men� <br /> �f pro�er�y�axes, ha�ard zn�uran�e and other ztiems men�ione�in Para�raph�. <br /> To prot�ct Lender's security�n the Property,Lender sha�l advanee and char�e�o�orr�v��er a��amaunt� <br /> due to the Secretary for the Mort�age Insuranc�Pr�mium as defined in the Lflan Agre�ment as v�e11 as <br /> a�1 sums due�o the�oan s�rvi�er for servzcing a��i�i�kes as def ned in the L�an Agreemen�.Any am�unts <br /> disbur�ed�y Lender under�his Para�ra�ph shall become an additionai deb�of Borrovc�er as prc���ded f�r <br /> Pa�e 3 of 13 HE���SecQnd De��i afr Tr�st--201� <br />