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<br /> � S. H�z�xd or Propbrty Insuaaoe. Barroxec�lull lceep the imprc�vementa naw e�3stin(�or hereatter erected un
<br /> the Property ineurod�Qainet loee by firo,h�a�s included Miehin tlb tarm"erta�ded coveea�e �nd eny uther h�z�naa,
<br /> includint ttoad�or tlaodins�for Mhich Iwnder roquires inwnnoe.Thi�inuranoe�11 be munsainAd in the�mount�
<br /> and tor the periods that l.ender require�.'I'i�e i�uunnoe carrier proviAtn the inru�anco ihsll bo chc�on by Hon�ower
<br /> aubject to I.ender's approv�l Nhich�hall not be unraion�bly withheld.It�rrower tiils w m�intain covenQe dacr�bed
<br /> above�Lender m�y.�t L.a�'�option.obtain oovera�s,to protect L,ender'�ri�l►t�in the Propotty in avoordrna�lth
<br /> �� pr�enph 7.
<br /> _- Ali Inauratwe policies snd ronew+als shall be axeptable to Lendor and ehaQ includo a etand�rd mort��e cl�u�e. _
<br /> - I.endor ehall have the r��ht to hold the policia and roneMds. It I.endarraquira, Bocmwer�hall promptly �ixa to
<br /> ;_� I,ender aQ raoeipu utp��J promiume md cenewal rx►ticee.In the eveni o!1�,Borrower ahali aiva prompt notice to tho -
<br /> !' inuunnoe carrier u�d l.a�der.I.endor m�y malce proot of las it not made promptly by Aocrower.
<br /> � Uniaeo Londer and Bocro�ec otherNiee aQree in NdtlnQ.insurance proceeds shall be�pplied to restoration or repir
<br /> ----�- ot the Proporty dtmaQed,if the taetoration ar rop�ir 34 aconomtcally tewble and Lender'a exu�ity ia not Iaewened.11 the
<br /> --- --'— rostoration ar rep�ir ie not economically feaeiblo or Lander's eecu�ity would be tyesened,the insuance prc�ceeds eha11 be
<br /> ���?'(R�j�"n�,,,� applied to the sums eecured by thia Secudty Inatrument,whether or not then due,atth my e:cees p�td to Borrower.If
<br /> ��W�=�`��.,:��_� Borrower abandona the Property.or does not�nawer wtthin 30 daya a notice from Lender that the insucanca carrior h�a __
<br /> ��A=_,��,;.�x�,•-�,a; ot[�red to settle t cliim, then Lender may collxt the insucmce proceeda.Lender may use the procxds to repair ar
<br /> -���,,�� av,�.v.?;.�rr,_ nstore the Proparty or to p�y aums secured by this Security Itiatrument,whether or not then due.1'he 30-day period will —
<br /> ` " �� be�in when the notice ie�iven. _
<br /> _ �;.,�,g�-�,s•'��: ,:�� Unlese I,ender and Bortower otherwise a�cee in wdtin�.my application of procxds to principsl slu�l l not oztend or —
<br /> " `��?„�...:•,:.�;�:,;o. po�tpone the due dste of the monthly payments nierred to inparaQcaphs 1 tnd 2 or chan�o the amount oi the nayments.
<br /> �';��•-t��.�•�,J�� If under para�r�ph 21 the Property is acquired by Lender. Bortower's ri�ht to�ny inaunnce poticies md proceeds
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<br /> _ „ �� " �� ;;,: resultin�trom dam�Qe to the Property prior to the aoquisition shall pssa to I.ender to the exunt of the eums sa:urod by
<br /> ' , ' thisSAaurlty lnstrument immodiately priot to the acquisition `
<br /> "�'' � - ' 6.Occupancy.Preservation,Mainteamce aad Protection of the Property; Borrower's Lwa Applicatioa; r.
<br /> � �� Lease6olds.Borrower ahall occupy,eaublish,and use the Property as Aocrower's principel residence within sizty days --
<br /> a ,,, � atter the execution of this Security [natrument snd ahall continue to cecupy the Property as Borrower's principal -_
<br /> ° � •• residence for at least one yar aiter the date of occupancy.unless Lender otherwise agrces in writin�,which wnsent sball �—ti
<br /> � not be unreason�bly withheld,or unless exunuitinE circumstances exist which an beyond Borrower's control.Borrower �,
<br /> ehall not destroy,damage or imptir the Property,allow the Property to deurionte,or commit waste on the Property.
<br /> Bocrower shall be in default it any forfeiture action or proceedinQ,whether civil or criminal,is beeun that in L.ender s
<br /> . good faith judgment could reault in torteiture of the Property or otherwise maurially impair the lien created by this -
<br /> Security Instrument or Lender's security inucest. Borrower may cure such a default and ninstate,as pravided in
<br /> paragraph 18, by causing th� action or proceedin� to be dismissed with a ruling that, in Le�der's �ood feith
<br /> � determination.precludes torleiture of the Borrower's inurost in the Property or other matarial impairment of the lien �,
<br /> - ----- - ---- - created by this Sxurity Instrument or I.ender's sxuricy interest.Bc�rcvwer at�aii eiso i�in defautt it Bartaacs,during �
<br /> , the loan application process, gave materially false or inaccurate information or statementa to L.ender (or tailed to
<br /> . provide I.ender with any material iniormation)in connection with the loan evidenced by the Note,including.but not
<br /> �. limited to, representations concecning Borrower's occupancy of the Property as a principal residence. If this Security
<br /> Inetrumant is on a leasehold,Borrower shall comply with all the proviaions of the lease.It Borrower acquires fee title tu �
<br /> the Property,the leasehold and the fee title shall not merge unle.ss I.ender agrees to the merger in writing.
<br /> ' 7. Protection of I.ender's Ri�hts in the Property. If Borrower fails to pertorm the covenants and agreements _
<br /> contained in this Security Instrument,or there is a legal proceedin�that may sigmficantly affect I.ender's rights in the �
<br /> d Property (such es a proceeding in bankruptcy, prabate, for candemnation or forfeiture or to eniorce l�ws or
<br /> �: regulations),then I.ender may dn end Juiy for what�ver iR nec�ssery to protect the valuc oi the Property and lxnder's '
<br /> :� rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this
<br /> l ' Security Instrument,appearing in couct,paying reasonable attorneys'fees and entering on the Property to make repairs.
<br /> Although Lender may take action under this paragraph 7,I,ender dces not have to do so.
<br /> Any amounts disbursed by I.ender under this paragraph 7 shall become additional debt of Borrower secured by this
<br /> Security Instrument.Unless Borrower and I.ender agree to other terms of payment, th�e amounts shall bear interest
<br /> trom the date ot disbursement at the Notc rate and shall be payable,with inter�st,upon notice fmm Lxnder to Borrower
<br /> requesting payment. �
<br /> 8.MortgaYe Insurance. If I.ender required mortgage insurance as a c�mdition of making the loan securrd hy this
<br /> Security Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect.If,for any� �
<br /> reason,the mortgage insurance coverage reyuired by I.ender la{�ses or ceasrs to F+e in effect, }iorrouer shall pay thc
<br /> premiums required to obtain coverage substantially equivalent to the mortgagr insiirance previously in effect.at a cost .
<br /> substantially equivalent to the cost to Aorrower of the mortgage insurancr prc�iu►�sly� in effect, from an alternate
<br /> , mortgage insurer approved by L.ender. If substancially equivale�t mortgagr inSUrance co��erage is not a��ailable,
<br /> , Borcower shall pay to I.ender each month a sum equal to one-ttivelftli of thr�•rarly mortgagr insorance Prrmium being
<br /> I paid by Borroa•er when the insurance coverage la�rd or ceasrci to hr in effcrt.I.rndrr a•ill acrept,usr and retain thrsr
<br /> payments as a loss reserve in lieu of mortgage insurance. I.oss re,en�e paymrnts may no lungrr t�e required,
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