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<br /> .. /�ll iusuenua: polictes tind renc�vals shall bc occcptable to I.cndcr mid sLnll iucludc u stvidard murtgngc clnt�.tic.
<br /> Lcndcr sLnll havr, thc d�t to hold thc policics and reucwnls. If L.cndcr rcqi►ires, Borrowcr shall ��rowpQy �ivc to s���
<br /> Lcnder nll re�:cipts of pald preminme and renewnl notices. in tt�c event of Inss, 8orrowcr shnl➢ �vc protnp� notiu: t�� � ' s�
<br /> the fusurnnce r,s►rricr and i.cndcr. Lcudet mny mnkc proof ot loss if ua� u�nd: proinptly by Aonowcr.
<br /> - Ualcss J..ender nau Horrower otherwisc ugrce in wriNag, iusurnncc pracccdA shall bc nppUcd to restarntiun or • `
<br /> , rcpntr of the Property �lnmaged, if tl�c restorntion or repnlr is cconomlcAlly fcaslblc and l.endcr's sccudty is niit • '���
<br /> , lcssencd. If ttie restoration or repair (s uot cconomlcully feastble or l.cuder`s sccurity would be Icssencd, thc insuroncc : ,.
<br /> procccds sh�ll bc applied to the sums securcd by this Securtty IaStrument, whcther o:nat thcn due, wt�h any cxccss , ,,
<br /> paid to Borrovier. If Borrowcr abnudons thc Property, or docs aot answcr within 30 days a uotice front Lcndr..r that !
<br /> ' the insurance carrier haS offered to settle a cleim,then Lcnder may collect i(�e Insurance proceeds. I.ender may use ;
<br /> tl�e proceeds to rcpair or restorc the Property or to pay sums secured by this Securlty Instrument, whether or not thcn ; '
<br /> due. The 30-day perlod will begn when the notice Is given. �
<br /> Unless Lender and Borrower otherwise agee in wdtiag,nny applicution of proceeds to principal shall nat extend �
<br /> or pastponc the due dntc of Wc moathly payments refetrecl to In paraguphs 1 aud 2 or change the amount of thc
<br /> payments. If under paragaph 21 the Properiy is acquired by L.ender, Bonower's dght to any iasurwce policies nud ..
<br /> procecds resulting from damuge to the Property prlor to the acquisltion shall pnss to Lender to thc extent of thc sums
<br /> secured by thls Securlty Instrument immedlately pdor lo the acquisitlon. ,
<br /> 6. Oocapancy. Pressrvaflon. Mainteaanoe md ProtecHon af the Property; Borrowar's Loaa Applic�ttoa; "
<br /> • d�.r_��±olds. Borrower shall occupy,establish, and use the Property as Borrower's prtnc.�tpal residence within slxty days . .
<br /> after the execution of tliis Sccurlty Instrument and sh�ll wntinue to occ.upy 1he Property as Borrower's principal ,,, '�:�
<br /> residence for at least one year after the date of occupancy, unless I.ender othenvise agrees in wdtin�,which consent :..•.
<br /> shall not be unreasonably wIthheld, or unless extenuating circumstances exist which are bcyond Boaower's control. • 'w-
<br /> Borrower shall uot destroy, dttmagc ar impair the Property, allow the Property to detcrioratc, or commit waste on the '`
<br /> ' Property. Bonower shall be in defat�t if any forfeiture actlop or proceedln�, whether dvil or criminal, is be�uu that "���
<br /> in L.ender's good faith judgnent cauld result in forfeiture of the Property or otherwlse matedally impuir the lien ; ••{��•�
<br /> created by this Securlty Instmment or I.ender's security interest. Banower may aue such a default and teinstate, uc
<br /> �. „�_,.
<br /> provlded in pazagaph 18,by causln�the actfon or proceeding to be dlsmissed with a ruling that, {n I.euder's �ood fatth �'
<br /> determination, precludes forfeiture of the Borrower's interest in the Property or other mater{al impairment of the lien ..�;�_
<br /> creatsd by this Security Instrument or I.ender's security interest. Borrower shall also be In default if Borrower, during ,�,c
<br /> . , the loan appltcation proccss, gave materially false or laaccuratc information or statements to I.ender (or falled to ';,.;�•
<br /> provide L.ender with nny materIal informstion) in co�ection with the loan evidenced by the Note, including, but not , i'���'
<br /> � • limited to,representatlons concerning 13orrower's occupancy of the Property as a ptinctpal resldence. If this SecurIty ��;,`,`'.':.
<br /> Instrument is on a leasehold, Borrower shall cumply wtth all the provlsious of the lease. I€Bonower acqulres fee title f�ir
<br /> to the Property, thc leasehold and the fee t�Ue shall not nterge unless I.ender agrees to thc merger in wrINns.
<br /> 7. Ptotaxton of Yieader's Itigbts in the Property. If Bonowcr fails to perform the wvenants and agn;ewents �,��: : �� �
<br /> ' coutained in this Secudty Instrument, or there is a leg�l praceeding that may sipiificantly affect I.ender's ri�ts in the
<br /> Ptoperty (such as a proceeding in bankruptcy. probate, for condemnation or forfciturc or to enforce laws or � ,.,
<br /> regulatlons), then Lender may do and pay for whatever is necessary to protect the valuc of the Properiy and Lcader's ��n:!%
<br /> � rlghts in thc Property. Lender's acdons may include p�yin�any sums secured by a llca which has prlorlty over this ��'��
<br /> Secvi�ty Instrument, appearing in conrt, paying reasonable attorneys' fees and entering on the Property to make repairs. ���
<br /> Although Lender may take action under this paragraph 7,L.ender daes not have to do so. ��� ,_�.--
<br /> Any amounu disbursed by L.ender under this par�graph 7 shall become additional debt of Borrower securcd by `..','�"��, •- �°°
<br /> this Security Instrument. Unless Bonower and Lender agree to other teims of puyment, these amounts shall bear �- � +� '-
<br /> ��.
<br /> intemst from the date of disburscmcnt al the Nate rate and shall be payable,witL Interest, upon notice from L,endcr ""�"" "•�j,. .
<br /> to Bonowcr requcsting payment. ' '.
<br /> 8. Murtgage Iasnrmae. If L.ender required mortgage {nsurance as a condidon of making the loan secured by % ''
<br /> this Security Instn�ment, Sorrower shall pay the pmmiums requlred to maintaia the mortgage insurance in effect. If, . •� �'
<br /> for any renson, the worigagc fusurancc coveragc required by Lender lapses or ceases to be in cffcct, Borrowcr shall ,�;
<br /> pay the premtttms required to obtain coverage substantially equivalent to the mortgage insvrance previously in effect, .w - �
<br /> at n cost substantially equivnlent to the cost to Borrower of the mongage insnrance previously in effect, from an '.�
<br /> altemate mortgage insurcr approved by L.endcr. If substantially cquivalent mortgagc insurancc covcrage is not .
<br /> available, Bonower shall pay to L.ender each month a sum equal to one-twelft6 of t6e yearly mortgage insurance I
<br /> premium beiug paid by Borrower when tLe insurance coverage lapsed or ceased to he in effect. L.ender will accept, �
<br /> usc and retatn these payments as a loss reserve in lteu of mortgage insurance. L.oss reserve pny�ucnts may no lovger i
<br /> be required, at thc option of Lcnder, if mortgagc insurance coverage (in tUc amount und for thc period that I..cudcr
<br /> � requires) provided by an insurer approved by L,ender again becames available amd is obtained. Bonowcr shall pay the
<br /> premiums requIrcd to maintuiu mort�age insurance in effect, or to pravide a loss reservc, until the requirement for
<br /> mortgage tnsurnnce ends in nocordance with any written agreement between Bonowcr and I.ender or applicablc law.
<br /> 9. Inspoetlo�. I.ender or its agent may make rcasonable entries upon and Inspections of the Property. Leuder
<br /> shall pve Borrower aotice at the tfine of or prior to an inspection specifying re�uonable caaSe for the inspection.
<br /> 10. Condemn�tIon. 'Ihe proceeds of wy awatd or claim fordamages. dlrect or consequential, in wnnection with ,
<br /> auy conJemuntion ot other taking of any part of ihe Prepert}, ar for cauvcyance in lieu of condcmnatlon, ai�e herehy
<br /> assigncd and shall be paid to Lender.
<br /> __ In the event of a total Iak1n� of the Properiy, the proceeds shall be applied to the sums secured by ttris S�curity
<br /> � Instrument, whcthcr or not thea due,with any exoess paid to Dotrowcr. Li thc evcut of a parti�l taking of thc Property
<br /> in which the tair mnrket v:iluc of the Property immediately beforc ihe taking is cqual Io or grcntcr tLan thc amount
<br /> � of the sums secured by this Sccurity Instrumcnt immcdiatcly bcfote the ta[cing, unless Borro�vcr anJ IAUder othcnvisc �
<br /> agree in writing, the suws secured by ihis Security Insirument shall b�e redured by tde :uvount of thc praacds
<br /> ; multiplied by the following fraction: (a) the tot:tl amount of t6e sums sccured imwediately beforc Ihc laking, divided
<br /> � by(b) fltc fair mvket valuc of t�c Property immediately before thc taking. Any balance shall bc vaid to Bonow�r.
<br /> i In the cvent of a panlal inktog of thc Property in which ihe fair u�arket value uf the Prvperty immediatcly beforc �hc
<br /> taking Is less than It�e �ount ot the sums secured imwedintely bctare thc taking, «nless Bonowcr aad Lrudcr
<br /> uiherwisc agrcc in writin�;ot unlcss applt�;ablc law uthcn�+isc Vrovid�.a, thc prumeds shnll bc applicd w ihc yom�
<br /> � ' sccured by tWs Sccurity Instrumcnt w6eth�cr or uul the sums arc then duc. _
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