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<br /> 4. Flre� Flood and 01her�rd lawr��ca.&►r�uwer�i�all insurc�li improveit�ntx un the Propeny,whetlur now in
<br /> - -- e�lsten^e er•t!��u�ly Mwn�l, .oAiaw,�ny bAxn�iH. cw�itie�, And u►nNn�encirs. in�:luding fire, fpr which l.ender royuires
<br /> insurarKe. This inwranre�hall bc muintuincd in thu um�wnts and far �he perialc thut Lencier rryuire�. �rmwer shpll �I.ra
<br /> ii�.tiure all improvcnxntY on the Pro{+crty,whothar naw in rxiitence ar subacyuently eratal,Wgairu�t lox�by flocxf�:to tF►a extent
<br /> rryuired by thc Sarctury. All lnsurance shull tw cutxLtJ with companiex uppmvcxl by l.�nder. Thc innur�ux.c p�licic�:ond any
<br /> rcncwxls stwll be held by Lcndcr and chall inaludu luwx puy�ble clu�sea ln frvor uf.w�d in a forn��cceptabl¢to,Lcnda�.
<br /> � In U�e cvent of losi,Bormwer shall give Lcnda� immediatc notice,by mait. Letxler may make proof of lotis if �wt mud¢
<br /> - promptly by Barrower. F.�ch insurance company concemed is hereby uuthorized end directod to make paynxn[ for such locc
<br />-=,..— dircctly to Lcnder. instcad of to Bormwer and to 1.�ndcr jointly. All or any part of thc insuru�:procoods mzy be applied by
<br /> --- Lcncicr, ut its aption, cither (a)to the rcduation of the indebtedr�ess under the Nate and this Securtty Instrumcnt,first to �r►y
<br /> delinquent amounts applial in tl�a ordar in paragrrph 3,and then ta prepaymeat,of princlpal.or(b)to the restoration or repair
<br />__ � � - of the damaged Property. Any applicatfon oE tho proccais to the principal sh�Jl not extend or postpone the due date of thc
<br /> month�y payments which are referral to ln par�graph 2, or change the amount of such payments.Any excess insurance proceods
<br /> aver an amount required to pny all outatanding indebtedness under the Note and this Securiry Instrument sh�ll be paid to the
<br /> ---_----- entity legally entitled thereta.
<br /> �;—— In the eve�t of foreclasure of thia Secur�ty lnstrument or other transfer of title to the Property that extinguishes ttie
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<br /> yi�t�`ix indebtedness,all right.title and intere�t af Borrower in and ta insarence policics in force shaU pass to the purcha.ger.
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<br /> •+ ' �x"° �� ��' S. Occupancy, Preservat?�on, 1ltaintenance and Protection of the Property; Rorrower's Loan AppUcatlon;
<br /> , �,�7`',t�.�;�'�'�' I.easehalds. Borcower shpll occu v establish, and use the Property as Borrower's principnl residence withia sixty days after
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<br /> �' the execution of this Security Instivment and shall continue to acupy the Property as Borrower's principal residence for at least
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<br /> b � one year aftar the date of a:cupwncy,unless the Secretary determines this requirement will cause undue hardship for Borrower.
<br /> •u������•�. �; or unle.r•s extenuating circumstuncec exist which are beyond Barrower's control. Borrower shalt notify Lenders af any
<br /> � ,;,�,.,�,,•T..'. extenuating circumstunces. Borrower shall not commit waste or destroy,damage or subxtentially change the Property or xllow
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<br /> = ;`.�;;�';�:�;:: thc Properly to deteriaruto, rcuxmuble wcur and tu►r excepted. Lendcr n�y inspect the Propetty if the Propetty is vacunt ar
<br />- �.�..��,,.a�,�� ub��xion�xl or the loun is in dufuult. Lcnder may tuke rcuumubie uction to pmtcct and prctierve surh vuc�nt or ubunciunai
<br /> � - Pro rt Bonowcr shull uIM►bo in defuult if&+rrower,Juring the I��un u{�licution prexes.,gavc materluliy fAlu:��r inaccurrte
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<br /> �'`'"� ���•.; inG�rnwtion or.tuten�ent�tu l.ender(or fuil�rl t�� pr<wick L.cnder with uny mutcriul infornwtion)in comxctiun with the I�wn
<br /> '��'•�� !�vldMn!•nl hy the Not��, i�u�14�dInL, hu� �xx limitud t<►. represent�tion►cuncrrninu &�rrower'r cxcupu�xy of the Property a�x
<br /> '�`�'��""'''�" prineip•rl rczidetuc, lf thf� Scrurity Imtrunxnt is un u Icakhold, &irrowcr .hull comply with thc provisicros�f thc lease. If
<br /> �• � • ' &rcrowcr ucyuirex f�ti titln ta thu!'nip�:riy, thr icukhnld ancl f'ec tide shull not lx mcrguJ unlecs I.,ender ugrce.�to thc merger in
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<br /> •: n.. . writing.
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<br /> 6.Cha��ta Barrow�er And Protection of I.ender's RlRhts in the Prnperty. Borrowe� shall pay all govemmcntal or
<br /> municipal chargeti, fineti and impo,itiun+that are n��t inrluded in paragraph 2. Borrower shall p•ry these obligations on time
<br /> ` ' directly to the entity which iy o���cd the payment. If failure to pay w�uld advenely•rffect Lender's interest in the Property,upon
<br /> ""'� � Lender's reyucst Barr��wer.rNulbpromptly fumish t�>L.eruier receipts evidencing these payments.
<br /> _, ' ' lf Bc�rrowrr t:�ils a�mukc th�sc payments or thc paynxntt rcauircci by paragraph 2,or fails to perforni any other covenants
<br /> �� .� anci agrcxmcnts contuinai in this Security Instrumcnt,urthe�e i�a Icgai pracceding that may�ignificantly affect Lender's rights
<br /> in thc Property(such•r�a pmcceding in bunkruptry, for rondemnatinn or to cntixce I:►ws or regulations),then Lender may da
<br /> �� �:;,�, . und pay whatcvcr is necc+�ary to protcct the valuc uf thc Propcny und l.cnder'� rights in the Property, including payment of
<br /> ' � • taxes,hazard insurance and ather itcmn n�entioned in paragraph 2.
<br /> � "''�?, , Any amomus disburs�d by IAndvr«ndcr thi�paraFraph,hall txc�mu an additional debt of Borrowcr and be secured by
<br /> this Sccurity [nstrumcnt. Thwtic amount+�hall tkm•int�rest from thc datr of di.bur`ement, at the Note rate,and at the option of
<br /> . , A. � Lcnder,shall be imniediutely due and payuble.
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<br /> �:�' =5�,' ' 7. Condemnation. Thc procecds of any uward ur rlaim for damagcs, dircct or conticyucntial, in conncction with any
<br /> ���j;� ' ��.4 rondcmnation or other taking of any part of thc Property.or G�r cum•cyance in place cif'cuixiem��ation, are hcreby ussigned wtd
<br /> '�_: _;;,` r, shall be paid h�I.ender to thc extent cif thr f'ull amount of thr indebtcJnrsti that remsin,unpaid under the Note and this Securiry
<br /> -. . � • instru►rxnt. I.endc�xhall apply wch pr�wc�:d.to thc reductiun uf thc inJchtednc�s undrt thc Ni�tc and this Sccurity Instrumcnt,
<br /> . ----• •• firtit to any delinquent amounts applicJ in thc orcicr providrd in paragraph 3. anJ thcn to pmpayment of princip�l. Any
<br />_ � ' � . application of the procecds to the principal shull not cxtend or po.t}x�ne the duc Jate uf thr monthiy payments, which �re
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