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<br /> S.Hsaud or Property Insnrance.Bor'ower sbalt keep the improvements noar_eristing os hGttaker erected aa � —_ ---
<br /> � th�Property�i�s�iast la�by�ra.haurds inclnded�*ithin tt�term'extended oovrerage"sad sny other haut�ds„ _— -__ -
<br /> includin�itoods or flooding.for which Lender requires insueane�This iasusanoe sha11 ba rnainuined itr t6e amounts - _ - —
<br /> _ _ and for th's periods that La►der requires.The insuranca carriet providin�the insuran�e s1►el}be et►osett by Borro�er ..,;,:,`_;�;�;F-,
<br /> `_�� � subject to Lendes's approval•wtueh sbell not be unreisansbly withheld.It Borrowet�ails to maintain covera�e desen'bad � ' .. �:�..°
<br /> - above.Lender msy.st I.ender's o�tion,ohtain caven�e m pmtect L�ender's riEhts in the Property in accordance with .p � ` � Y;= ��=��
<br /> - �-�� . PsragrsPh 1. - ' . , - � . ' ..-, .
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<br /> �;==:: : :. , All insurnce policies and renewsls shall b�acceptable to Lender and shail include s standard mortga�e claiise. ,- , ._
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<br /> ' s'- -�` . Lender shall have the ri t to hold tlie licies and renawala If Lender uites, Borrower shall m tl ve to M �
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<br /> Y :�� f �,.,: 3.ender att ra:eipta of paid premiums saa renewal notiees.In the avent ot tass.Barrawer shaU give pratngt eeosice w the � r.�- _
<br /> - �,�_._. _ ' _. in�ranc�carrier and.Lender.l�ender_map m�+ke pcnot ot 1�if not made ptomptly hy Borrawer. �.��--- --
<br /> . ` r��. ;�'`� '.'=''' Unless l:ender and Borcoarer otflerwise agnx in Nritin�,iasurance grnceods she11 be applied to re.scoration of repsir � iti .
<br /> �r.°: '� � � "_ �� � of the Property damaged,if the restoration or npair is econo�micslly teasible and Leader's secuaty is not les�ne�.lithe r .;. ;�._ ..
<br /> `'�`'`�=�:y�"'`'�"`" restorauon or npair is aot eoonomically feasibte or Lendec's security�vould be les�ened,the insurance pr�nceeds s1�1 be�
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<br /> �_�:�==:�:�,:. :.'.-•� applied to the surns secuted by this Securityr Insttument,whether or not then dne.with ang eaoe�paid to Borroaer,lf ��. _ �` �� . ,
<br /> � Borcower abandons the Property,or dces not answer within 30 days a notice from I.ender that tT►e insurance catrier has _ , _
<br /> � ; `.��-��; � offered W settle a clsim,then I.endec may ooltect the insursnce proaeds.Lendec may use the proceeds to rep�ir or �
<br />;; ,:'. '�,;;`. _ f: ; teswre the Property ar to paq sums secured by this Securitg Instrument,whether or�ot then due.T6e 30'day period will � ,
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<br /> ; ` ���.F :f �.; begtn when the notioe is given.
<br /> . �,, Unless I.endee and Borrower othenvise agrae in s�ritiag,.any application of procceds to grincipal shall not extend or � . �':
<br /> �� `'� �'c•�_, .- - postpone the due dau of the monthly payments referred to i�pa�gaphs 1 and 2 or change the amouatof the payments.
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<br /> „'ti���``f`, ''``�"' �` '.I#u tt d 4 c Para8r8P h 2 1 t t ie P c+o p e r t y i s a c q u i r e d b p L e n d e r, B o r t o w e r's r i g h t w a n y i n s u r a n ce p o l i c i e s an d p r o c e e d s ; �
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<br /> ��',�s��'�'c ��'� " or to�e a "suon shsll to Lendcr to the estent of the sums secimd b} - .
<br /> ;`� ;iis�ilting trom damage to:t�'e ProPertY Pri � P� . �ar,.
<br /> �.,�t,r�.< �rr: ,Y;� . � . .. _ _ ..
<br /> + t2iis Socuritg Ingtca�enE immediatel y psiar to the,a c.q uisitioa. . � r:,
<br /> - � - '`,°: . � • 6.Qccupancy,PrGSecvation,3iaintenance sII d P toteciion o f t he PropertY:Borrowet's L o an App lica fioa; s t�'�---- °�;-��:°.° �,;
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<br /> L�isettoids.$orrowet s�t.nceupy,earablish,and use the Property as Borrowet's principal residence�vit�in sixty days :,-.; ;z , ,:, .`}:
<br /> - ��� , . , "j •.�- the Pro as Borno�ar's 'nci 1 ;;{<<=::at,. ���
<br /> �:.�., �- - a�r th�exxution of t..z�.Sacurity Instrumrnt an�s.'�s l l c o n t i n u e t o o c c upy peRy rr� pr� P a
<br /> . . - � nsidenca for at least osie �eat after the date of accu ,unless Le�tder oiherwise agreas in arriting,afiic aonsesit shal l ,,,::.,;j�;r�� ..�r
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<br /> • ' • not be unreasonably aithheld.or unless extenuating circumstane�eseaist which are beyona Bortocve�s conts�:$otYower ;��•.,r ,� •,
<br /> _ ' _ __ , shal!not destmy.damage or impair the Property.allow the Pro�e;ty to deteriorate,or cam�e►it waste on th�Property.. ,,;.',;�>�^- � ;
<br /> - . . -- - Borrower shall be in default if any for[eiture action or procee�'�g;.�hetiier civil or es���,is begun,that in Lead�s., . . �.:."�,� .
<br />.' � ` . good faith judgment could result in[orfeiture of the PropesEy oz otFier,wise materially i�npair the lien created by this�.'.:.... -'�"�'��'�,
<br /> , ." . Security Instrument or Lender s security interest. Borrower�e�ap c�re such a defauTt and reinstate:95 pIOVt(tC� itl' ::,. •., f�;'.:;;`;�:;;;;
<br /> � _ � psregraph 1$ by causing the action or proceeding to be�smissed with a ruiing that, in Lendezs good fasth. . . ,, , :
<br />—.. `;--.---=_= _-�--.�.:'. detertnination.Preciudes fotteitc»��t the Bonowe�'s iater�'4�*�:�Pm�erty os other matec'sa�,impaircr,�t�f thelien �.• r sF ,,. •�,
<br /> crosted by tius Security Instrusnent or Lender's security intei�st.Borrawer shsil also be ice c��'suh iE Borcower.dur4ug' ,`�,'.� �T,�-'
<br /> � � • �'��"�•� the loan application process. gava maurisily iatse or inaccurdt�information or statemer��.s to Lender (qr faile�i� "•',`�:;;`;�<�� �:
<br /> • :;� . _ pmvide Lender with a»y materisl iniormation)in connection with the loan evidenced by the Note.inetuding,but not ` `'';"-'' , �"
<br /> :;• r-��;��,.• limited to,tepreeentations concerniag Borrower's a;c�r ncy of the Pro as a principal residence.If this Security -�'�'3���� .. ..
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<br /> � :°....__ __.. __; lnstrument is on a leasehold��wer shall comply with all the pmvisions of the lease.If Borrower acquins fee titte to � '
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<br /> . �; the Property.the leasehold and the fee title shail not merge unless Lender agrees to the merger in writing. L __� _ _ ��
<br /> . . � • '. 7.Proteetioa of Lender's Ri=hts in the Praperty. Ii Borrower fails to perform the covenants and agreements � � �.
<br /> contained in this Sccurity Instrument,or there is a legal proceeding that tnay signiCcantly affect Lender's rights in the . .
<br /> ' . - - . . . Propercy (such as a proceeding in bankruptcy. probate, for candemnation or forieiture or to enforce laws or � :
<br /> � ' ' ", ' regulations),then Lender may da and pay for whatever is n�ry to protect the valus of the Propercy and Lender's
<br />' � � ' � rights in the Property.I.ender's actions may include paying any sums secured by a lien whicb has priority over this • • .
<br />�: y , Security Instrument�appearing in court.paying reasonable attorneys'fee,s and entering on the Property to make r�epairs. '
<br /> _�� ; ' . Although Lendet may take action under this{iaragraph 7.Lender dces not have to do sa. . ..
<br />"�,�. ' At�y smounts disbur.sed by l.ender under this patagraph 7 shail become a d ditiona)de bt of B orroaer secured by this
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<br />„ . �.+.. • Security Instrument.Unless Borrower and Lxnder agree to other terms of payment,these amounu shzIC bear interest ' ' �.'`:�
<br /> � °<i'�'`°����� �"'�--��• from the date oi disbursement at the Note rate and shall be pa�•ab1e,with interest,upon notice ttom Ixr.:t�tio Horrower �'° � �
<br /> � . . �. raquestin8 PaYment. . .
<br /> � • • 8.Mort=aje lnsunnco.If Let►der required mottgage insurance as a condition of maki�g tre toan secured by this
<br /> ' . � Secutity tnstrument,Borrower shall pay the premiums required to maiatain the mortgage ie�a:.�^ce in effect.If,for any � '`• .
<br /> � ' '''N�;.' '. . - reason.the mortgage it�sutence coverage required by I.ender Iapses or cea.ses to be in eff�,$orro��-shal] pay the " � -
<br /> r` cemiums uired to obtain covera e substantiall tnvalent to the martgage insurance re��iousi :r��fect,at a cost ''` ��
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<br /> ����i�;,"'.�,•, , . � 'spobstantisllytt equivalent to the cost$o Borrowet of the mottgage insurance previously�in effecty from ap a}ternate
<br /> ,,:_.,,. �,,..,.., mortgage arsurer approved by Lender. If substantially equivalent mortgage insurance caverag� is not available. .
<br /> � Bonower s�all pay to I.ender each momh a sum equal to one-tweNth of the yearly mortgage insurance premium being,� � ,
<br /> �'`.�' �:��'' , � - int �
<br /> '�'= ,:, }�,At,� ;.' .: ,'.�.;� gaid by Barmwer when the insurance coverage lapsed or ceased to be in effect,l.ender tivill accept,use asd reta hese
<br /> '•��'='r � �yments as a los,s teserve in lieu of mortgage �nsurance. Loss resen�e payments may no lon� he requit+ed, `� ` •
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