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<br /> '��4;: � � S. Y�a�ard`or Prope�ty Iasurance. Borrower shall.kaep the impmvements now eaisting or hereafter erected oa tiie �� �
<br /> -_- � �. ,..-.''. . ProtxrtS'insured against loss by fire. 6azards included withio the term °extended coverage°and auy osher hazards.iaciud�ng .. � `. '. -_
<br /> ' ` `'� �� . tlaods or flooding,for wfuch I.ender cequires insurance.This insurance shall be,maintain�l in the amounts and for the periods � .,a � � ,
<br />,- k;�' r' °.;'�,. � that Lender requirey.Tfie insarance carrier pmviding the insur�mce shail be chosen by Borrower subject to Lender's appnava!• : • ', -_--
<br /> ,, which shalt aot 6e unreasonably withhel�. If Bortouzr fails to maintain ooverage described abave, Lender may. at L.ender's . -
<br /> � : , r � , option.o6tain coverage to protecd Exnder's rights in the Propeity in accardaace�ith paragraph 7. � ' , . � ' _--
<br /> ' •� 'z • � All insurance Qolicies and renewats shail be acceptable to Lender and shall include a standard mortgage ctause. Lender � . . „ -
<br /> • � ; ' " � � shall have the�right to hotd the policies and renewals.lf Lender requires.Barrower shall prnmpdy give to Lender all receipts of � '
<br /> �; . �` . -� paid premiums and renewai notices.In the event of loss.Borrower shall give pror�t notice to the insurance carrier and Lender. �- . . '
<br /> ` � - � ixader may make proof af foss if not made promptly by Borrower. , � -..- ' --_ ,: ,
<br /> , �, ��'
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<br /> t3ntess Lender and Borrower otherwise agree in writing,insurance proceeds shall be appired to restoration or repair of the -- �. -
<br /> Q` ' ' Ptoperty dainaged,if the restnratiofl or repair is economicalty feasible and Lender's security is not lessened.If the restoration or ' . " �
<br /> "" � repair is not economically feasible or Lender's security would 6e lesseaed,the insurance praceeds shall be appli�d to the sams _____`�: �
<br /> � � � � . serured by thFS Secarity Instrument. �vheiher or not then due, with any e�ccess paid to Eormwer. If Borrower abandons tbe .' • � -
<br /> �: .. _ :, . " ` Froperty.or daes aot answer within 30 days a notice from Lender that the insutance carrier has offered to settle a daim,then ' �- � �� � � • �
<br /> .� � � ` Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property ar to pay sums � �
<br />- i; ., � secuced by this Security Instrument,whether or not then due.The 30-day periad'will6egin when the notice is given. ; � �•
<br /> . . , ��' . , Unless [.ender and Barrower otherwise agree in writing, any applicauon of proceeds to principal shall n�t extend or •
<br />_ ` �' " ; � postpqne the�due date of the moatlily.payments referred Ra in paragraphs 1,and 2 or change the amaunYof the payments. If _ . r. • .
<br /> • : `` � under paragrapN 21 the Fr+operty is acqwred by Lender. Borrower's right to any insurance policies and pr.oceecis resulting fiom .�
<br /> � dam3ge to the Property prior to the acquisition shali pass to I.ender to the extent of the sums secured by this Secority L�stmn[ent � : .
<br /> � , � � iaunediately.pr�or to the acquisition. � , '
<br /> • ; . . 6.OccaPaacY,Pre�erva2lon,Maiatenauf�aad ProtertIoa of the Property;Borrawer's Loan Applic�on,Leasehoids. ' . :`•,
<br /> ' Borrower shall occup'�+,establish,and use the Property as Borrower's principal residence within siatyi days after the execution of _ . � . -
<br /> "-�� �� '� '�`�� ' this Secvri Instnisnent.and shall.conrinue to occupy_the.Prapeny as Borrower's principal_residence for at least one year after � ��•�-.�
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<br /> ° the date of occupaacy.unless�.ender otherwise agrees in writing,which consent shall not be unreasonably withheld,or uniess • '' :��
<br /> `�` . ;.: . ,
<br /> � � extenuatin� circumstances exist which are beyond Borrower s conuol. Borrovyer shall rtot destroy. damage or impair the . ,rf':
<br /> .. • • . Property, allow the Property to deteriorate, or commit waste on the ProQerty. Borrower shall be in default if any forfeiture ���-=
<br /> .�.�.
<br /> '.'_". �•_:;° action or proceeding,whether civil or criminal, is 6egun that in Lender's good faith judgment eould result in forfeiture of the � ,. ��
<br /> .. ,_.
<br /> ` - ' - - Property or otherwise materially impair We lien creat�i�y this Securiry Instrument or Lender's security interest.Borrower may -• � '. �°
<br /> , � � , cure such a default and reinstate,as pmvided in paragraph 18,by causing the action or praceeding to be dismissed with a ruling ,
<br /> • that. in Lender s good faith determination, precludes forfeiture of the Borrower s interest in the Property a:flther material • � . . •
<br /> . • impairment.of the lien crea*.ed by tf►is Security Tnstrument�or Lender's security interest. Borcower shall also�e in default if � . '
<br /> `� . ' �- - Borrower.during the loan a�,liration process,gave materially false or inaccurate infortnadon or.4,z*_emenu to Lender(or failed ��� � -' • �r�:� �
<br /> • . � to pravide Lercer with any material infomtation)in connection with the toan evidenced by the:�a:e, incladin�.but noi limi*_e� • , . �'
<br /> . � ,. to,represer.t�cens concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a . �� ' �•:..:�� �
<br /> . � �
<br /> " . , leasehold. Horrower shalt comply with all the provisions of the tease. If Borroa•er acquires fee title to the Property, the '_ � � '
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<br /> . . ' • leasehotd and the fee title shali not merge unIess Lender agrees to the merger in�srriting. .
<br /> . � -� • . 7.Proieciton of Lender's Rights in tfiae Property.If Borrower fails to perform the covenants and agreements cantained in -� -•�- -'``_;-'..•; �
<br /> „ .
<br /> . � this Security Instrument, or there is a fegal proceeding that may signifcantly affect I.ender's rights in the Property (sach as a ' � 'f
<br /> .' ; • �, � proceeding in bankruptcy,probate, for condemnation or forfeiture or to e»force laws or regulatic�s),then Lender may do and ' '' .,.�y;���
<br /> . . .. pay for whatever is necessary to protect the value of the Property and Lender's righu in the Properry. Lender's actions may � " ' ::
<br /> � � include paying any sums secured by a lien whic6 has priority over this Security Instrument, appearing.in court, paying �.:'%�
<br /> : ' : ' reasonable attomeys'fees and entering on the Property to make repairs. Although Lender may[ake action under this paragraph • �. ' . , ,,'
<br /> '. ,� . 7.I.ender does not have to do so. '
<br />_ � : � Any amounts disbursed by L.ender under this paragraph 7 shall became additional debt of Borrower secured by this � • ,
<br /> . � , Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the � •• � ; ;�;. .��,
<br />:..-: ' date of disbursement at the Vote rate and shall be payable, with interest. upon notice from Lender to Borrower requesting • '' -
<br /> . .. � payment. . ..�;. .
<br /> , ,;
<br /> , S.M�rt„�^�.ge Insurance.Ii l,ender re.,uired mortgage insurance as a condition of making the loan secured by this Security • � �
<br />, � . • Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. if, fos any rcason, the . � •
<br />_;_,�: • � mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to . �- • ' .
<br />— � cGtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantiaUy equivalent to the .
<br />- • • cost to$orrower of the martgage insurance previously in effect. from an altemate mortgage insurer appraved by l.ender. If � � �
<br /> - • . . � substantially equivalent mort�e insurarcce coverage is not available.Borrower shal!pay to Lender each month a sum equal to ' � �
<br /> • � one-twelfth of the yearly mortgage insuranc�premium bein�paid by Borrower when the insurance coverage lapsed or ceased to ,
<br />= , - ' . • 6e in effect.Lender will accept.use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reser�,e .
<br />_ � � ,• • Form 3�28 9!£Q . .
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