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<br /> ..���:•tic;t�_ ' pertoda that i.ender requires. The insucance carrier providing the insurance shall be chosen�y Horro��A���nder�s ._:��,,��;.:,W,.
<br /> �„�;�a� „,, ,'" upprovul whlch shall rtot be unreasonably witlatteld. If Borrower fails to maintain cover�ge descritsed above.Lender may,at ' ' • � �
<br /> = ' Lender'a option,obtain coverage to protect Lender�dghts in the Property in accordance with paragraph 7. 'f� ,��'``�'���"'""�T`"��`
<br /> - All insurance policies and renewals shall be acceptnble to i.ender and shall include a standard mortgage clause. Lender � •. �
<br /> -- • ahall have the right w hold the policies und renewals. If L.ender requins,Borrower shall promptly give to Lender all receipts ' . • ,'<s.�<�;.
<br /> � of paid premiums and renewal notices. 1�the event og loss,Borrower shall give prompt notice to the insurance canier and - • ''
<br /> x�'�'�'"; -'`�"��� Lender. Lender may make proof of loss if not made promptly by Borrower. ° ' ' ' �`��:�.
<br /> . Unless Lender and Borrower othenvise agreE in writing,insurance proceeds shall be applied to restoration or repatr af ^ � ;' -
<br /> � J � the Properiy damaged, if the restoration or repair is economically feasible and Lender's secutity is not lessened. !f the ( ..' " .,
<br /> -- � , '• restoration or repair is aot economically feasible or L.ender's secur+ry would be lessened,the insurance proceeds ahnll t� L. ' °
<br /> ._ . ___ a��tie�to the cums r.ecured by this Securiry Instrumen�whefiher or nat then due,with any excess paid to Barrawer. If " � ° _
<br /> . �orrowex abar.�c,�s the Property, or does rtot ansv�er wi.tixin�ii d�ys a nottce from I.ender that the insurance carrier has s' =
<br /> �• ofr�ere�to sett[e�.�aim,then Letzd.er may coliect cite insurauce pnoceeds. Lender may use.the proc:ecds to repair or r+estare , . '�
<br /> the Ptvg►eccy or co�ny�ums sec�by this Sec�rity insuvment,whether mr not then due. The 34dny periad will begin when . . %;""�
<br /> �� ` the ttotiae is�ivea. ' f' �'�
<br /> Unless Lender and Somowes odterwRSe agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments refemed to in paragraphs 1 and 2 or change the amount of the payments. If •
<br /> under paragraph 21 the Prnperty is acquired by Lender, Borcower�s right to any insurance policies and pmceeds oesultiag •• . � . � ' .
<br /> from demase to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security ' • .
<br /> � . Insuument immediately prior to the acquisition. „
<br /> " ° 6. Orcupuncy, Pr+eservation, Maintenartce and Protection of the Property; Borrower's l.oan Applicatiom, ° • .
<br /> . � l.easeholds. Borrower shnll occupy,e�tabli+h,und utie the Property ac Borrower�pnncipul residenee within sixry days after - -
<br /> - the exerutian of thih Security tnstrument and r:hall cnntinue to occupy tfie Property us Harrower's principul nsidence for at . �
<br /> leust one yeur after the dnte of occupuncy, un16,� Lender otherwi.e agrces in writing, wh:ch consent tihAll not be �, .,
<br /> ' unreusonably withheld.or unlesy extenuuting circum*t�nccs cxizt which ure bcyond BorrowerS control. Bormwer�hull not -
<br /> � destroy.dumuge ar impuir tfi�Praperty,uil��w thc Praperty to detcriorate,or commit w��stc on thc Propeny. Burrower shull +
<br /> fx:in defuult if any forfeitum actian ar prcxeeding,whether civil or crtminul,is begun thut in Lender?�goad faith judgmem •
<br /> �� could result in forfeiture of thc Propcny nr othcrwise materiully impuir the licn creuted by this 5ecurity Inxtrument or • �
<br /> ' • l.enderk security intercst. Borrower muy cure tiuch u deluult and reinstate,us provided in purugrnph 18,by causins the uction
<br /> , , or proceeding w be dismissed wEth u ruling thut,in Lenderk goa!faith determination,precludes forfeiture af the Bornower's •
<br /> � interest in the Propecty or other material impuirment af the lien created by this Security Instrurnent or Lender�security � ;;;'
<br /> � ' . interest. Borrower shall also be in defnuit if Borrower, du�-ing the loan upplication proeesc, gave materiuUy false or ` � :yl..
<br /> inaccurxte informaGon or statements to Lender(or faited to provide Lender with any material infortnation)in connection with ( ,f.. '�
<br /> the loan evidenced by the Note. including,but not Iimited to, representations conceming Borrower� occupancy of the �•. . ,�
<br /> Property as a principal residence. If this Security Instniment is on a leasehold,Borrower shall comply with all the provision� „ , q ��
<br /> of the lease. i�lsormwer acquirts fee titie to the Property,[he ieasenoid and ine�ee iitie�haii noi naergC w,iC�a t.cr�uc�ag�cc� ��_�-_=--
<br /> to the merger in writing.
<br /> 7. I�a�II�B�n �ff I.�maE�r's Righ3s nn 3Q�e Pro�eu�sy. IIf Borrov�,•er f:►il� ta�perForm the covenants and agreements , �
<br /> ,� contained in this Security Insw¢esent,or there is a l�gal proceeding tE�at mnc s�gna�cantly affect Lender's rights in the : � ,:. d1
<br /> Progerty(s¢cFe as a proceec7it�g in 6unhruptcy,probate,foff condemnation or forfeiture a�to enforee Iaws or regulations),then t����� � ��
<br /> , Lertder may do amd pay for whatever is nece..ary to�rotect the value of tht Property and Lender's rights in the Property. :' ������
<br /> Y P Y 8 Y Y P Y 9 PPe € ."'W s.
<br /> • LeRder's actions ana include a in an sums secured b a lien whirh i�a� riorit over this Secu�rit Instrument,a arin . „•�
<br /> � . in court, a in reasonable attome s'fees nnd enterin on the Pro rt} to make re airs. Althou �Lender ma take action � f�'�
<br /> P Y 8 Y � Pe P 8 Y ` . ��
<br /> uader this paragrap h 7,Len der does not have to do so. •• r
<br /> . Any amounts disbursed by Lender under this pararraph 7 shall become udditional debt of Bortnwer securec!fiy this � . �,
<br /> � Security Instrument. Unless Sorrower and Lender agme to uther term�of payment,these umounts�hal!bear interest fac�m the j� ',�
<br /> � date of disbursement at the P1ote rate and shalt be payAble,with interest,upon notice from Lender to Borrox•er requesting ! � „ , �
<br /> • , payment. � • �;;.. i.,
<br /> S. Mortgage Insurance. If Lender required mortgagc insurance :�<a condition of mal:ing the loan secured by thix � �`"
<br /> :�`�(�:� S e curity Inswment.Bonower s ha l l pay t he premiums require d to maimtain t he mc�rtgage insuranct in e f fec t. i f,for any • • .
<br /> ���� ='4 reason, the mortgage insurancr coverage reyuired by Lender I�pses or cease. to be �n effect. Borrower shal! pay the �•;;'�'>�. .
<br /> ��'�,i��� remiums re uired to obtain covera e substantiall e uivalent to the mon�a�e in�urance mvious! in effect, ut a cost ` d�- . '
<br /> P Q S Y 4 t � P Y � ( '•'"
<br /> substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect,(rom an alternute mortgage � �•�''� '
<br /> insurer approved by Lender. If substuntially cyuivalent mongage in�urance coverage ix not available, Borrower shall pay to „ ' •
<br /> Lender each month a sum equal to one-twelfth of the yearly mortga€e insurance pmmium being paid by Borrower when the �� ,
<br /> � insurance covernge lapsed or ceased to he in effect. Lender will uccept,use:uid retain th�+e payment,as a loss reserve in lieu i ' ..
<br /> � of mortgage insurance. Loss reserve payments may nu longer be required, at the option of Lencier, if mortgage insurance
<br /> " coverage(in the amount and for the period that Lcndcr reyuimti)provideJ by:ui insurrr appruved by Lender again berometi ��
<br /> � , �:� available and is obtained.Borcower shull puy the premiums reyuired to maintain mortgage in�urance in effect,or to provide u (
<br /> � , ' loss r�eserve,until the mquirement for mortgage insurance ends in urcord.mce with any written agrcement hetween Borrower
<br /> ' �r�"' �• and Lender or applicable luw. •
<br /> �`''� • ' 9. Inspection. Lender or its agent may make reasonablc entrie� upon and in,pections uf the Property. Lender shall ,
<br /> give Borrower notice at the time of or prior to an impection specifying reuson:tble ruuse for the inspection.
<br /> . 10. Condemnation. The pmceeds of any award or claim for damage.,dirert or ron�eyucntial,in connection with any ;
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