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<br /> • 4. Firc, flood and Oihcr Hnra�rd bisuruncc. Rnrmwcr�hall inxurc all impri�vcmcnts on ihc Pr�iprrty. �vhctttcr now in
<br />,�__ exist�nee ur subseyurntly erected, u�aintit any hniardti, cativalticti, .uid contingencieti. includin5 firc.li�r which l.endcr reyuires 1
<br />-�.� insurancc. 'fhi. insurancc ,h:dl hc nr.iintaincd in thc ;mwuntti an�l fur thr peric�dti that [.cndcr rryuirrs. Borrrnvcr tihall alsci '��.;
<br /> . insur�all itnpruvcmculs un lhc 1'rupcily. ��lullia nuw iu�ai�l�nc� ui tiubtii•yuc�llly �r«1c�1. .ig.iinst lo�s Uy tloodti to Ihe�xt�nt
<br /> • . � rcquircd by thc Sccrctary. ,111 insurunce ,hall hc c:irriccl with rumpanicti �ipprovcd hy I..�:ndcr. Thc insurancc pulicic5 and any
<br /> rcncwuls sh.dl he hcld hy LcnJcr and shull inrludc lotiti payablc rlauus in firvur of,and in a form arrcptablc tu, Lcndcr.
<br /> - [n thc cvent ot'loss, Borrowcr shall givc l,�ndcr immcdiatc notirc hy mail. Lcndcr muy makc proof of loss if not �nadc
<br /> „� pramptly by Borrowcr. Each insurnncc company ronccrncd is hcrcby authurizcd and Jircctcd [o makc payment for such loss �
<br /> dircctly to Lcndcr.instcad of to 9orraw•cr and t� I.cndcr jointly. All or any part of thc insurancc procecds may hc applicd by ,
<br /> •• • I.endcr. �,t its option, eidicr(ai to the reductinn of thc indebtedness undcr thc Note and this Security Instrumcnt, Crst to any ..
<br /> delinqucnt amounts applied in the ordcr in paragraph 3,and then to pr�paymem uf principal, or (b)to the restoration oc rcpair
<br /> � of'the damaged Property. Any application of the procceds to the principal sh�ll not cxtcnd or postpone the due date of the �� �
<br /> man[I�ly payments which are referrcd to in parabraph 2,or change thc amount of such payments. An��exccss insurance procecds
<br />- . " ovcr an amount requircd to pay all outstanding indcbtcdncss undcr thc Note and Ihis Security Instrument shall be Raid to the
<br /> � entity legally entitled thereto.
<br /> • In the cvcnt of foreclosure af ihis Security lnstrument or othcr transfer of title to the Property that extinguishes the -
<br /> • � indebtedness,all right,title und interest of Borrc�wcr in anJ to insurance polirics in forcc shall pass to Ihe purchaser. �n�
<br /> :. �� 5. Occupancy, Preservntion, Maintenance and Protection of the Property; Borro�ver's I.oan Application; '
<br /> I.euseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixry days after '�.;,_
<br /> the execution of this Security Instrument and shall continue eo occupy the Property as Burrower's principal residence for at least
<br /> one ycar after the date of occupancy, unless the Secretary determines this requirement will cuuse undue hardship for Borrower, 1"?
<br /> � or unless extenuatin� circumstances exist which are beyond Borrower's control. Borrower shall notify l.enders of any
<br /> � extenuating circumstances. Borrower shaU not commit waste or destroy, damage or substantially change the Property or allow `�
<br /> the Property to deteriorute, reasonable wear and tcar excepted. Lender may inspect the Property if the Praperty is vacant or �'�'
<br /> y.
<br /> • aonndoned or tne ioan is in cicfauit. i.ender may rUcc reasonuble act�on ro protect and preserve such vacant or aoandone� -�`�
<br /> Property. Borrower shall also be in default if Borcower,during the loan upplication process, gave materially false or inaccurate n=-��
<br /> ., inform:ttion or statements to I�nder (or failed to providc Lendcr with any material information) in connection with the loan �R":--
<br /> e�ideneed by the Note, including, but no[ limiteci to, representations concerning Borrower's occupancy of the Prope�ty as a ��:�:
<br /> ' , principnl residence. If this Securiry Instrument is on a leasehold, Borrower shall comply with the provisions of the Iease. If' �"''"
<br /> Borrowcr acquires fee title to the Property, the leasehold and fee title shall not be mergeci unless Lender agrees to the merrer in �:-
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<br /> . writing. .o:
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<br /> • 6. Churges to Borrosser And Protection of Lender's Ri�h�S (n the Property. Borrower shall pay all govcrnmental or =
<br /> _ ` municipal charges, fines and irnp�sitinns that are not included in paragraph 2. Borrower shall puy these obligations on time ".
<br /> directly to the entity which is owed the payment. [f failure to pay would adversely affect L.ender's interest in the Property,upon
<br /> Lender's request Borrower shall promptly furnish to L.ender rcceipts evidencing thcse payments. .
<br /> ° If Borrower fuils to muke thcse payments or thc paymcnts rcyuired by paragraph 2, or fails to perfottn any other covenants
<br /> and agrcements contained in this 5ccurity Instrumcnt, or thcrc is a Icgal procccding that muy significantly affcct Lcndcr's rights .•
<br /> in the Property(such as a proceeding in bankruptcy, for condcmntttion or to enforce laws or regulatiorts), then Lender muy do , .
<br /> und pay whatever is ncccssary to protcct thc valuc of thc Property und L.endcr's rights in the Property, including payment of
<br /> � tuxes,ha�ard insurance and other items mentioned in paragraph 2. •�
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<br /> � . Any �mounts disburse:d by I.�nder under thi�puragraph shall hec:ome un additional debt of Borro�ver and be secured by
<br /> = this Sccurity lnstrument.Thesc amounts shall bear interest from the datc of disbursement,at the Note rate,and at the option of
<br /> L.ender,shall be immediately due snd payablc.
<br /> 7. Coudemnation. The proceuis of uny awarci or rlaim for damages, direct �x consequenti•rl, in connection with any �
<br /> • � condemnation or other taking of any part of the Property, or fvr convcyance in place of condemnation, are hereby assigned and
<br /> . shall be paid to Lender to the extent of thc full amount of thc indebtedness that remains unpaid under the Notc and this Security
<br /> ' Instrument. Lender shall apply ,uch proceeds to the reduction of thc indebteJnetis under the Note unJ this Security instrument,
<br /> tirst ro any delinyuent amounts applied in the order provided in paragraph 3, and thcn to prepayrnent of principal, Any
<br /> ' :�pplication oi the proceeds to thc principal shall not cxtcnd or postpone thc duc date of'the monthly payments, which are
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