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<br /> J s� ��p or gs�ope�ty lasurence, Borrower ahall keep the improvementn nova4�dng or herea er ere�ted on the •. •���•
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<br /> Property I�►surcd ttgainst lass by fire, haznrds lncluded within thc term "extended mvcruIIe And any other hazurda. including .
<br /> floods ar flooding,for which Lender requires insumnce. This insurance shoU be maintained in the amounts und for the p�rioets ;
<br /> ' that l.ender requtres. The insuranre currier providing the insumnce shull bc choticn by Borrmxcr subjcrt tn L.ender's appeoval _�_
<br /> � �vhich shali not bc unreasonub{y wfthheld. If Borrawer f�ils to maintnin crncmgc described at�ve, l.ender muy, ut Lender's � .V, �� _ _
<br /> .. .. o ption,obtain caveroge ta protect I.ender's rights in the Property in uccordance with pun+bmph 7. ,;E,�;�,�
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<br /> ` - All insurunce paltetes nnd renewuls shalt be acceptu b le to I.en der un d h h;►I! I n c l u d e a s t a n d a r d m o rt r a g e c l a u s e. [.ender __ ..
<br /> shnil have the right to hotd the policies and renewnls.If Le�er requires.Borrower sh�li promptly give ta l.ender all receipts of
<br /> paid premiums and renewal natices.In the event af loss.Borrower shull give prompt notice to the insurance carrier anJ Lender. �
<br /> l.ender may make proof of loss if not made prnmptly by Borrower. _--- - --
<br /> Unless l.ender and Borrower othenvise agree in writing, insurance proceeds shall be applied to restorntion or repair of the � _�
<br /> property dsmaged.if the restoration or repair is economicalty feasible and I.ender's seruriry is not lasened.If the restoration or _
<br /> repair is not eoonomiealty feasible ar Lender's secwcity would be lessened,the insurance proceeds shall be applted to the sums .'_�
<br /> stcure�by this Securiry Instrument, whether or nat dten due, with any excess paid to Horrower. If Borrower abandons the . R
<br /> property,or does not answer within 30 days a notice 6rom Lender that the insurance cardor has offered ta settle a claim,then s',�
<br /> l.ender may co��ect the insura�►ce Pe�ce�s• Le�x �y � �e proceeds to repair or nstore the Property or ta pay sums ,�;;+;�.
<br /> . s�cured by e�is SECUrity Insuument.whet�ex or nQt chen due.The 30�day period will begin wF.een the notice is Siven. .•t �;��
<br /> ' lication of tnceed.s to rinci al shalt not extend or r
<br /> „ flJn[ess Lereder anc! �vrrower atherwise agret in writinng. any app' p P P <�s'+�':
<br /> pastpone a➢z¢due da�e of the monthly payments regern� to ir�paragraphs 1 aad 2 or chunge the am4unt of the paymenu. If _
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<br /> u�er�ar��raph 21 t�e�'ropertY is aoquired by Il.en:der.I�or�cver's ngl'rt to ariy insurance poficies wTd prc�cr�ds msvlting from '�'�,-�e�
<br /> �• ;, dama�¢to ul�e Property prior to tiae�cquESition s�all pass eo Leader to che extent of the sums secur�ed by d►�s Securi�Y Instrument ,
<br /> immediateCq prior to the acquisiti�n. . � —=
<br /> � 6.Occupancy,�rvatiom,A9a6�e4�uea¢�auf�rotection of the Property; Borrower's Loan Ap�l�ca8ion;I.easeholds. , ., 'r .
<br /> gorrower Sha►�occu�,y,estab(ish.aRd use clze Fr�prrcY as BorroWer's principal residence within sixry days after the execudon of :, ;�
<br /> th�s Security Instturtrent and shali oontinae to a��q the Property as Borrower's principal residence for at least one year after • �
<br /> ' ' ' the date of axupancy,unless Lertder atiter�ras�agrees in writing, which rnnsent shaU not be unreasonably wichheld,or unless :l, '.L �
<br /> �� extenuating circumscances eAist wbich are beyond Borrower's control. Bornower shall not destroy, damage ar impair the :�}i.�• •�,
<br /> . p�,operty, al�ow the property to dete�orate. or commit waste on the Y'coperty. Borrower shall be in default if any forfeiture � y «-
<br /> � action or proceeding.whettter cio•c!ar criminal,is begun that in Lender's gaod faith judgment could result in forfeiture of the ,`, r�•- -- -
<br /> __ ___ _ Property or otherwise material�Y impair the lien created by this Security Instcument or L.ender's security interest• Bortower maY _ T_ ,-.
<br /> ,-,,�'tt;,.'� cure sueh a default and reinstate.as provided in paragraph�s. by causing the actiu��ui pr�.atling ia b:,di�mi:sed s�':th a nsling " —_
<br /> '�`��;,�5�� t h a t, in L.ender's good�faith determination, precludes fodeiture of the Borrower's interest in the I'roperty or other material .,;.. . `
<br /> , ;;;:.;��,� . impairment of the lien cteated by this Security Insuument or I.ender's security interest. Botrower shall also be in de fau lt i f . . j;,.,',��•
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<br /> Horrower.during the laaa application ptacess,gave�naterially false or inaccu�ate information or statements to I.ender(or failed �
<br /> to provide I.ender with any materiai information)in connection with the loan evidenced by the Note, including,but not limited , - ��•
<br /> • to,repre.sentations concerning Bor►nwer's occupancy of the Property as a principal residence.If this Security Instrument is on a , :."••:•�
<br /> � Ieasehold. 8orrower shall compl�• with all the provisions of thc lease. If Borrower acquires foe title to the Property, the ..:,�':;,:;{�j':t
<br /> ' leasehold and the fee title shall not merge unless I.ender agrees to the merger in writing.
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<br /> 7.ProtectIoa of l.ender's Rights in the Property. 1f Borrower fails to petform the rnvenants and agreements contained in '� f
<br /> this Security Instmment, or there is a legal proceeding that may significantly affect Lender's rights in the Prnperty(such as a
<br /> proceEding in bankruptcy,probate, for condemi►ation or forfeiture or to enfarce laws or regulations), chen Lender may do and , �� i. �
<br /> � pay for whatever is necessary to pratect the vafue of the Property and Lender's rights in the Pmperty. I.ender's actions may ,,,:.' , :���
<br /> ' ' include paying any sums secured by a lien which ha,priority over this Security Instniment, appearing in court, paying � � ��;.C� �+
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<br /> reasonable attomeys'fees and entering on the Property to make repairs.Although I.ender may take action under this paragrapfi I ' rr� , y_
<br /> 7,L,ender does not have to do so. ' ,:�r�
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<br /> � An y amounts disbursed by Lender under this paragraph 7 shall become additionat debt of Sorrower secured by this � :,, ., ,, ,l;i
<br /> Security Instrument. Unless Borrower and Lender agree to other terms of payment, these u m ou n t s s h a l l b e a r i n t e t e s t f ro m t h e ,:;.;;,:,_;,' r,�;;��i'.
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<br /> date of disbursement at the Note rate and shall be payable. with interest, upon notice f�om Lender to Borrower reyuesting f ';; ,;�,:;
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<br /> PaYment. , ' • . .�
<br /> ' 8.1Vlortgage insurattce.If Lender required mortgage insurance as a condition of malcing the loan secured by this Security �5��!
<br /> Instrument, Borrower shall pay che premiums reyuired to maintain the mortgage insurance in effect. If, for any rr�ason, the
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<br /> mortgage insurance coverage requi�ed by Lender lapses or ceaces to t+e in effect.Borrow�er shall pay the premiums required to i
<br /> obtain coverage substantially equivalent to the rm�rtgage insurance previously in effect.at a cost substantially equ+valent to ihe ,
<br /> • oost to Borrower of the mortgage insurance pre�•iously in effoct, fmm an alternate rnortgage insurer approved by Lender. lf .
<br /> subs�tantially equivalent mortgage insurance caverage is not available. Borcoa•er tihall pa�•to Lcnder esch month a sum equal to ,�
<br /> one-twelfth of the yearly mortgage insutance premium txing paid b}• Born�wer a�hen the intiuren.x�-���r�.�e lapsed or ceascd to : ,
<br /> � be in effect.Le�tder aill accept,use and retain these paymentti a� a lo.. retene in lieu of murt�.c�� irt�:.nnce. Lnss reserve
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