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<br /> - — - S. H�wrd or Pmperty insurnnce. Borrowu shnll keep the impmvemcnto now oxisting on c�reafter erxted on tho
<br /> Property insurc:d r�alnsY toss by 6ra,hc�zzards includod within th� term "cxtendcd coveragc" tsnd any other 6aznrds. lncluding
<br /> floodx or fluoding, far which Lcnder rcquires inxuranco.'fhis insururtcc Rhull ba maintain�d in the cunounts and for the pedods
<br /> that Lender c�quites.The insurance u►rrier provIding the insuranze ahull 6e chosen by Burrow�re subject to I,ender'A npproval
<br /> which shall nat be unreasonnbly w�thheld. If Borrowor fuits to mulntain wvern�e deacribed nbovo, Lcrtder moy.ut l.ender's
<br /> _ -�—____ _________� option.obtain coverc►�e to protect L.encler'R rlghts in the Property in nccordunco with pnr�gmph 7. �_
<br /> Ati InsurAnoe policies and renewale shall be ucceptable ta Lender und ahall include n Resu�dard mang�ge etau�e. I.ender
<br /> ahall heve the rtght to hold tha polici� and renewals.lf Lender requires.Borrower ehall pmmpdy Sive to Lender nll ncefpts of
<br /> paid premitems and renewul notices. In the event of losa,Borrawer Ahull giv6 prompt rtotice to the insuraz►ce c�rrier and Lender.
<br /> n_� Lender muy make proof of loss if rtot mude promptly by Borrower.
<br /> Unless Lender and Bonower aiherwlse agrea in writing,Insurance proceeds sh�tll be Applied to restaratiton or repair of the
<br /> T�= Praperty damaged,if the restoratlon or repaSr is ecanomiculty fenslble und Lender's security is not lessened.if tho rrstoration or �_-
<br /> -- - — cepair is not economically feasible or l.ender's securtty would be leasened.the insurnnce proceeda shull bo c�pplied to ehe aums
<br /> _ serured by this Security Instniment,whether or not then due. with su►y excess patd to Borrower. If Borrower abturdons the
<br /> �.` Property.or dc�es nat answer within 30 dayF a notice fmm L.ender that the insurance carrier has offered to seltle a cinim,then
<br /> I,endcr may collect the iasurence proceeds. i.ender may use the pracceda to repair or restore the Property or to psty snms
<br /> secured by this Securlry Insdvment,whether or not then due.The 30�dny period will begin when the nottce i�s givon.
<br /> Untess Lender and Borrower otherwise agres in wrlting, any npplication of pmc�eda to princlpal shnll not eatend or
<br /> past�one the due date of the monthfy payments referced to in para�raphs 1 and 2 ar chaagc thc amount of tha paymants. If _
<br /> undcc paragraph 21 the Property is ucquired by Lender.Borrower's right to any Insurance policies and proceeds resultang fmm --'
<br />'�, demage to the Pmperty gr�ox to the acquisidon shell pass to Lender ro the extent of the sums aecured by this Security ia�trument Y
<br /> immediately pdor to the acquisition. ��
<br /> 6. Occupancq, Preseervatlon,Mainteaance and Protection of the Property;Borrower's I.oan Applicadon;I.e�eholds. -
<br /> Ba^sower sheU accupy,establish,end use the Property as Horrower's pfincipal residence within sixty days afeer th�executlon of :���
<br /> this Security Instrument and shall co�rcinue to occupy the Property ns Borcower's principal residertce far at least ons ysar after =
<br /> the date of occupancy,tuiless Lender otherwise agrees in wriung. whlch consent shall not be un�+easonably withhcld,or unless Y-:,
<br /> ` extenuadns circumstances enist which ere beyond Borcower's contml. Borrower shall not destroy. darttage or impair the ���'�
<br /> • Property. allow the Property to detedorate, or commlt waste on the Property. Borrower shall be in default if any forfetture A�,�,:"-'
<br /> T� ` �l".�'" action or proceoding.whether civil ar crlminal,is begun that in Ixnder's good faith judgment could result in forfeiture of the ''�-
<br /> . �, o � , u ��::-:
<br /> _ . = - - � • = Pmgerty or odser��i�°,m3tcria!!y intpslr sl�e lien cr,�ted by this Securi�In..trume:ss or i.es:der s sec�rlt}�zntcr�t. Bor:oe.sr msy
<br /> •�.�,f�� � cure such a default and r�instate.as provided in paragraph IS,by causing the acuon or proceeding to be disrraiased with a ruling —
<br /> that, In L,ender's good faith deternilnation, precIudes forfetture of the Borrower's interest in the Property or other mater�ai �,-
<br /> _'��y im,pairrnent of the lien created by this Saurfity Insbument or Lender's securIty interest. Borrower shall al�a b� In default if ��r�
<br /> "`�,� , � Borrower,during the loan application pracess.gave materialiy faise or inaccurate infonnatlon or statements to Lender(or failed t%��
<br />. , ::fF+�. • ,.
<br /> �,,. a'�,���L to pmvide I.ender with any material information)in connection wlth the loan evidenced by the Note,includi ng,but not limited ;:�'•
<br /> ` • to,repmsentatlons concemin�Borrower's occupancy of the Property as a principal residence.If this Security Tn�trument is on a ' '�
<br /> •'�.�;-'. ^� • -
<br /> _ •; t teas�hold, Borrower shall comply �v[th all the provisions of the lease. If Borrower acquires fee title to tha Property. the "`'''-
<br /> '���• leasehold and the fce tide shall not merge unless L.ender agre�s to the merger in writing. '�
<br /> �:
<br /> • r• �.,iM*K' 7.Protedton of Lender•s Rights ia the Property.If Borrower fails to perform the covenants and agm�ments contuined in
<br /> _ '`�e*f. this Secudty Instrument.or there is a legal procee�ing that may significantly affect Lender's righta in tho Property (such ac a
<br /> ;7��: t proceeciing in bankruptcy,probate. for condemnation or forfeiture or to enforce laws or reguladons), then L.ender may do end
<br /> pay for whatever is ne,cessary to protect the value of the Property end I.ender's rlghts In the Property. I.ender's actions may F�'
<br /> • �' ` inclade paying any sums secured by a lien which has prlority over ihls Security Instrument, appearing in court, paying ' '
<br /> reasonable attorneys'fees end enteriag on the Properry to make repairs. Although[.ender may take action under this paragraph ��
<br /> ? � �'�' 7,i„ender dces not have to do so. �
<br /> ,;t;:,. Any amounts disbursed by Lender under this paragraph 7 shalt become additional debt of Borrower secumd by this �.,�
<br /> ""•=��==' SecurIty Instrum�mt. Unless Borrower and Lender a�c+ee to other terms of payment,these amounts shal! bear intemst from the -
<br /> �•��:::.,,•f�''���
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<br /> ,,.r.,� date of disbursement at the Note rate and shall be payable. with interest, upon noticc frnm Lender to Aorrower reyuesting
<br /> �` ,� .���•�.._" payment.
<br /> ���'' 8.Mortgage Instu�ace.If Lender tpquired mortgage insurance as a condition of making the loan secured by this Security
<br />-- -.'w".r-`'�'`'
<br /> . :;��»+:�.; Instrument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. if.for any �eason, the
<br /> ��.�•_;t�,F mortgage insurance ooverage requtred by I.ender lapses or ceases to be in effect. Borrawer shall pay tha premiums requircd to
<br /> ��``�r,::�� abutin coverage substantially equivelent to the mortgage insurance previously in effect,at a cost gubstantially equivalent ro the
<br /> _`��7.i.c
<br /> cost to Borrower of the mortgage insurance previously in effect. from an aitemate mortgage insurer upproved by Lender. If
<br /> � '"-':�+�:�''� substantially equivalent mortgage insurance coverage is not available, Bnrrower shr�ll pay to Lender each month a sum equal to
<br /> ��'�..4'"'"'�' onQ-twelfth of the year[y mortguge ins�rance premium being paid by Borrower when the insurance covernge lupsed or ceased to
<br /> . `'���'•�;�;;?y; be in effect.Gender will accept.use and retui¢�these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �
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