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<br /> , , ' • periods tl�at Lender ccquires. The insu�ancC cairier pruviding the invurance shatl be chosen by Borcowet subject to l.en�er� ` ._ � ' --
<br /> - . : : , appmva!whi�h s�alj not 6e unreasonabfy'w�thfneld if Bormwer fails ta malntain coverage descn'bed a6ove.l.ender rt�y.at °. : �
<br /> '� Lender's optipn.obtain caverage to protect f.ender's rigltts in the Property ia accardance with paiagrapfi T. ` `� � �`,`� •
<br /> ' ` • ° AIl insurance policies att�renewais sha116e acceptabte ta Lender and shall include a standard mortgage claase. Lender . `.` �
<br /> . ;,' - shal!have the right to i�oId the policiss an�cenewals. tf I.ender�equin�.Borrower shail prompt[y give to Lender all receipts '� �,��� � . =-
<br /> - . pf paid premiums and mnewal notices. In the event o�tqss,Borrowes shaU give prompt nouce td the insivance carrier aad � � . ~ ��_:
<br /> .. t
<br /> _ '-Y-- . . . i.endcr. Lendes rrmy ma4ce pmnf of lass if�t re�de pmmpti}�by Somqti��er.
<br /> _,_ �_- ,_ ---.g--
<br /> '. Untess Lender and Borrawer atherwise agree in wri6ng.insutance proceeds shal!be applied to�estaratian or cepa�of � '
<br /> � •• . , the Property damaged.if ths restoration or repair is economicalIy f�easi6te and Lender's securiry is not iessened. If the � 1 ' � :�,��
<br /> . � mstoratlon or cepair is not economically feasibie or Lender's secarity woutd ti�lessened the insurance proceeds shall Ise ` ' � __
<br /> � •:,.� '� __
<br /> ' . ' appiied to the sums secvred hy this Securiry (cuuumen�whether or not then due.with aay escess paid to Borrower. If .:,;;� �_ . :_;>-;, �_f
<br /> , � . Bomower abandons the Property,or dces aot aaswer within 30 days a notice from Lender tS�at the insruance canier has � � . - --
<br /> . � ' offered to seule a claim.then l.ender ma coltect the insurance raceeds. Lender ma nse the to or restore _�' ==`�'•'• .� `�-
<br /> Y F Y P�� �r ��•.��:, s�:.- :��Y-_
<br />. the Property or to pay svms secured by this Securiry[nsaumenr,whether or not thea due. T6e 30�day periad wiil begin when •,.��;,•:�.�
<br /> ' - the notice�s given. ' � :j'• :�£F,==�L_=-,
<br /> N� , .. . Unless Lender and Horrower othec�vise agree in a,rriting,any application of proceeds to principal sha!1 nnt eatend oT -. "4,•'<,:'f..�:;�";
<br /> � � • postpone the due date of the moat�ly paymgnis referred to in paragrapAs 1 and 2 or change the amount of the payments. 1f ��� =-
<br /> � ' under ara h 21 the Pro u uired b Lender.Borrower's ri t to an insurance olicies am9 ds TesuItin , ` K`` '�i�`��
<br /> P 8�P F�Y� �1 Y F� Y P P� g �.� �.��c - -
<br /> r� � from dama e to the Pro nor to the a uisitian shall ass to I.ender to the extent of the sums secured b ttus Securi -j =-�- �.'"`�—
<br /> 8 Pert3!P� �l P y ty �'t,:"'�•=
<br /> ' � � � Insuumeat immediately Qrior to the acquisition. • , �� '�""F.�,�
<br /> ...,.. ,.
<br /> �.,� ' . ' .. 6 Occupancy. PreservatFon. Matnteaance aad Pratection oY tfre Properiy, Bortawer's Loan ApplicatFan, `..;����4_---
<br /> . .. . . . � Leasehoitts. Borrower shall occupy.establisft,and use the Ptaperty as Horrower's priacignl rasidence withiie sixty days after �.`��:'�;�:��.-=_:�_
<br /> _ � _ . • . . , the execution of tlus Security Insdumeat and shall continue to occupy ttie propzrty as Borrower's principal nsidence for at �•.'�s y�=''�'=
<br /> � —�'--=�- - --- -... _..... -teast mie-year--after-the date�of�-occ�pancy:�-unIess-�.enderotherwise��agnzes in-svritingr-svhich-coasent-sE�al1-not-be.. ��--
<br /> ' , �� � um�easonably vfithheld,ar unless extenuating circumstanoes eaist whish are 6eyond Borrnwer's control. Bortower shall not ��'= ==
<br /> � � � destroy.damage or impair the Property,a12ow the Property to deteriorate,or commit waste on the Pmperty. Borrower shall � ; _°___
<br /> � • • be in defauit if any forfeiture acoion or proceeding,whether civjl or criminal,is begun that in l.ender's good faith judgment . _ ____—
<br /> . cautd cesult in forfeiwre of the Prope�ty or othenvise materially impair the lien created by this Security Inst�ument or �'.'J'..�-
<br /> � �"� -�.'r - Lxnder�sec�uity.interest..Borrower may cure such a default and reinstate.as prnvided in paragraph 18,by caasing the actian _ _ -
<br /> , � �� or pmceediag to be dismissed with a ruling tha�in Lender§goad faith determination,precludes forfeiture of the Borrowec§ `�:'} �
<br /> �� iatemst in the Pmperty or other material impaimient of the lien cr�ated by this Security Instrument or Lender's security ' ':3��.�
<br /> ..r-.:
<br /> • ' � interes� Borrower shall atso be in defapJt if Borrowes, during the foan application process, gave materiaUy false ar ;j;� ��F�"��
<br /> . ._.. . . .,._ �accurate informarion ar statements to Lender(or failed to ptovide Lender with any material inforrnarion}in connection with •' _
<br /> the loan evidenced by the Note. including, but not limited to. representations conceming Borrower's occupancy of the ��;'`
<br /> • • Propetty as a principal residence. If this Secutity Insmiment is on a leasehold.Borrower shall comply with all the prorisions "''•`_
<br /> : , of the lease. If Borrower acquires fee tide to the Property.the leasehold and the fee dde shaU not merge unl�s Lender agrees '
<br /> . "' , ta the merger in writing. ' . ',;.-},�
<br /> • . ' 7. ProteQion of Leader's RIghts in the Property. !f Borrower faits to perForm the covenanu and agresmenu � '+:� �> ��
<br /> . wntained it�ttns Secarity Instiument,or there is a leg�l proceeding that m�y significandy affect Lender's rights ia the �s`.:'. '" .
<br /> � � Property(such as a proceeding in bankruptcy,probate.for condemnation or farfeiture or to enforee laws or regulations).then ~ ,�,'�
<br /> . ' . i.ender may do and pay for whatever is necessary to protect the vatue of the Ptoperty and Lender's rigtits in the Property. . � , '
<br /> t.e.nder�s actions may inclade paying any swns sec�cred by a lien which has priority over this Security Instrumen�appearing : :� _
<br />� � . in court,paying reasonable attotneys'fees and entering on the Property to make repairs. Although Lender may take action � �„4 :-
<br /> . � , ` under this parngraph 7.Lender dces not have to do so. , • �'�,_ ��_°"
<br /> _ � • My amwnts disbursed by Lender under this paragraph 7 shall become addirional debt of Borro�ver secuied by this "�+�
<br /> ed
<br /> : �, Security Instrument Unless Borrower and Lender agree to other tenns of paymen�these amounts shall bear interest from the ' �;� ^ �
<br /> . . • � date of disbursement at the Note rate and shall be payable,with inteiest,upon notice from l.ender to Eorrower requesting ' ���, ,�
<br /> 3�,_'`f__�___�•_
<br /> paymen� ,� ;. --
<br />- • . , . 1 � . 8. Ndaat�ge Insarance. If Len�r required mortgage insur�nce as a condition of maki.lg the loan secured by this . • .::'�`:��„.
<br /> '• ' • •. Security Insnuanen�Brnmwer sha11 pay the premiums mquired to maintain the mortgage insurance in effec� If,for any � •:�_
<br /> . reason. the mortgage +rtRrr�nce coverage required by i,ender tapses ar ceases to be in effec� Borrower shall pay the ��.��i`;.f; :ir
<br /> j s�.;.%��.�?•. � '. premiums�equired to efatain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost ,� . •�•:�:'.��=
<br /> ���'`��� ' substanually equivalent to the cost to Borrower of the mortgage insivance previously in effect.from an altemate mortgage '':'�, �•• � `�
<br />- ° �� �. ' , insurer approved by Lender. If substantially equivalent mortgage insvaance coverage is nat nvailabte.Borrower shall pay to � • • . . Y+�
<br /> .-� � �;'' ; . L�nder each month a sum equal to one-twelfth of the yearly mongage insurance premiurn being paid by Borrower when the ' ''�''` ' '
<br /> — ... 3:
<br /> -` '� '` insurance coverage lapsesd or ceased to be in effect. Lender will accepi.use and retain these payments as a loss reserve in lieu • � �
<br /> :�3-��' , of mongage insurance. II.oss resetve payments may no tanger be required,at the option of L.ertder, if mortgage insurance '' ' . , r=
<br /> � `�-���. • ��. coverage(in the amount and for the period that Lendee seyuires)provided by an insurer approved by Lender again becomes . .. �
<br />��f . . . available and is obtained.Borrower shall pay the premiums required to maintain mortgage insurance in effec�or to provide a .
<br /> �� � �Ioss reserve,ar?il the requaement for mortgage insurance ends in aeeordance with any written agreement between Borcower � ,
<br /> � and Lender a��pLczb[e law. ' ..:.
<br /> ' �,�•� . . • 9 Inspectioa. Lender or its agent may mukc reasona6te entries upon and inspections of the Property. Lender shall r
<br />- '•'�"�' give Borrower aodce zt the dme of or prior to an inspection specifying reasonabie cause for the inspecrion. . •
<br /> �' `'�'�. � � � 10. Conde�tation. The proceeds of any awazd or claim for damages,direct or consequential,in connection with any � ' '
<br /> !' � .
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