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<br />- �����1�.CC10�5 �:�;;..
<br /> � 4. I�ire, I�Inntt �ind nther Hazard Insurance. Borrower shall insurc all improvemcnts on the Property. wliedicr now in �-=�~'
<br /> cxistcnrc ar suNtieyuently crccted, against any hazards,casualtics, and contingencics, including firc, for whiih I.cndcr��cquires
<br /> insuruncc. This insur.incc shall be nmintnincJ in die amounts and fnr thc periods that Lcndcr rcyuires. Bnrrrnvur+h.ill ;ilw —
<br /> insin�c nll irnprovcmcnt�on Ihc Property,wheiher now in r.xistcncc or subticyuendy crcrtcd. aguinst lusti by tlu��dh ti�Ihr rxtcnt - -
<br /> " �.. rcyuireil hy ihe Secretary. All insurunce shnll be carricd with companics appruved by I.i:nder. Thc instu�an�c �ulicies und ;my __
<br /> � rencwiAs tihnll be held hy Lender and shall includc loss payable clauses in f;lvor nf, nnd in a ti�rm acrcptahlc tu, lxn�lce. __
<br /> �
<br /> �� iIn the cvent of'loss, Borrower shall give Lendcr immeciiate noticc by maiL Lender may muke proof iii'Ic�ss if ni�t m.i�le —�
<br /> i pr��mplly hy Oorrower. Each insurance company coneerned is hereby authorized and directeJ to make payntcnt tiir sud� Inss
<br /> i dircctly to l.cndcr, instcad of to Borrowcr and to Lc:ndcr jointly. All or any part c�f thc insurancc procccds nu►y hc applicd hy --
<br /> �� ' I.cndcr. at itc option, eithcr(a) to thc reductimi of the indebtcdness undcr the Note und this Sccurity histrument, first lo nny —
<br /> • dclinNucnt ami�unts�pplied in the order in puragr�ph 3, and then to prepayment of principal,or (b)to thc restoratiou nr rcp:�ir
<br /> „ uf liic damugcJ Aroperty. Any upplication of the procceds to the principal sh�ll not extend or postpnne thc due date of thc
<br /> numthly paymcnts which arc rcfcrrcd to in pangraph 2,or changc thc amounc of such paymcnts. Any cxccss insurancc proc�cls - - -
<br /> ovcr an nmowu rcyuired to pay ull outstanding indebtedness under the Notc and this Sccuriry Instrumcnt shall ha paid lo thc
<br /> ' cntity Ic�al ly cntiticd thcrcto. _
<br /> ,. , �Y»``_
<br /> In thc cvent of forcclosurc of this Security Instrurnent or other transfer of tide to the Propeny tl�i�t exiinguisfus thc
<br /> � indehtcdnes�,all right, title anJ interest of Borrower in and to insurance policies in force shall pass to the purchaser.
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