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<br /> � 5. 1lt+zxrd or Praperty Insurpncc. �rrowcr sha11 kecp thc iniprovemcnts now exis�i�g on c�rcat�er erccted on tho
<br /> Property insUrcd agnlnst loss by fire, hazard� hicluded wlthin�he tcnn "extcnded coveragc"mtd nny other hazurd�. incfuding
<br /> floc�ds or flooding,for which I.ender�equires insurancc. This insurunce Fhail be maintaincd In the�mounts u�nd for thc periods
<br /> ___.._--____ , thas(.endc�rcauirct. The i�zsurnnce c�rrier proviQin�ahe in;ur�nr,�shal! be ch�sen hy Hnrrower sr�hicct to i�nder's a��rovad
<br /> �� whicl� shall not Ix unreASOnably withtieid. If Bormwcr fails to maintaEn coverage described ubove, Lendcr may, at l.ender's •
<br /> ���� aption.abtain coverage to protect I.�nder's rights In the Nraperty in nccordnnce with paragraph 7.
<br /> AII insur.znce pc►liaies nnd renewnls shafl bc nceepeAble to I.ender and sh�li include a smndard mflrtg�e$e clnuse. Lender
<br /> � _ shall have tlie rigtit co.huld tho pnlicies ond renewals. If Lender requires.Borrower shall promptiy givc to LcnAer u!1 rcx�ipts of
<br /> - - paid premiumg and renew�t notir.es, in the event of loss,Borrower sh�ll give prampt notice to the insurancc carrier and Lender. --
<br /> __ _ - [.ender may rnn.ke praof�f loss if nat made promptly by Barro�ver. ___
<br /> ,�� Unless Lerider 1nd Borrotti��c osherwise ngree in writin�. insurnnce proceeds shn11 bo applied to restoration or repsar af the -
<br /> _ Property damaged,if the restorntinn or repair is economically feasiUla and L.ender's securfty is nnt lessenoci.If d�a restocation or
<br /> _ repair is not ecanomicaliy feasible or Lender's socarity would bc lessened, the insurance proceeds shull be applied to the sums
<br /> _ — secured by this SetmYty Instrument, whethcr or not then due, with auy excess paid to Bottowcr. If Botrowe�abandons the
<br /> Property,ar does not ans�ver�vithin 30 days a notice from Lender thut the insurance currier has offered tc�.settle a cl�im,then
<br /> ° Lendcr may collcct the insurance pmce�ds. Lender m�y use the procc:e�s to repair or restore the Pro�ny or to pny sums
<br /> - sccurcd by this�ccurity Instrumcnt.wheihcr or rtot thcn due.The 30-day pc;iad will begia when the notice is�iv�n. -
<br /> --°_-_=�'! Unfess Lender and Borro�ver otherwise agree in writing, any application of procceds to principal shal! not extend or
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<br /> --,�-° postpanc thc duc c�ate oi the monthly payments rc£erred to in paragraphs 1 and 2 or chnngc thc umount of the payments. If --
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<br /> `-'3'��'�'�-'•� under parngraph 2l the Pruperty is acquired by Lender,Borro�ver's rigi�t to siny in.,urancc pnlicies wid proce.c:ds resuiting from � -
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<br /> �_ - dama�e to the Property prior to thc acquisition shall pass to Lender fi thc extent of the sums secured by this Security Instrument �,,::
<br />_`'��,:�`�-����.� immcdiately prior to th�ucquisition. '�"_'•
<br />_w�,�;=��ty 6. (ktupancy,Areservatton,Matntenunce and Protectian ot'the I'raperty; �orro�ver's I.oun Appl6cation;Leaseholds.
<br />__�"-�-�'''� Borrnwer shall�cAupy_establish.and use thc Property us Barrowcr's principal residence within sixty days after the executinn�f ___.
<br />�;:±:��rf' �� this Security Instrumcnt und shall continuc to occupy the Property as Horrowar's principal residence for at least one year after —
<br />+_�".,�:;�'' the date of occupancy, unless Lender otherwise nbrees in writing, which consent shall not be unreasonably withheld,or unless
<br />�<�'{':`.',�' extenuating circurostnnces exist wt►ich are beyond Borrower's control. Borrower shali not destroy, dnmage or impair the
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<br /> �;,.�.T' Pr�Feri,. �!!o i. P eger, to et�riers.e, �r m�nit vr.:.s on sl:,, rcge:t�. Barro::�e: :;t�a.� b;. ir.,.cf��.. if any ..rfcftu.:,
<br />-- �` �'�'�T�� action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
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<br />.�''`"�"�Y`•�'�'� Propeny or othenvise materinlly impair the lien crcated by this Security Instntment or Lendcr's sccurity interest.Borro�ver may
<br /> ''�' �•�•;»`t;�` ' cure such n default und reinstate,as provided in puragraph 18, by causing the action or proceeding to be dismissed with a ruling
<br /> �!'•�•'�>��*``��� r ihut, in Lcnder's good faith detennination, prerludes forfeiture of the Borrower's interest in the Property or ather material �
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<br /> , ,�; impnirment of the lien crented by this Security Instrument or I.ender's sccurity interest. Bonower shnll also be in default if
<br />��-�"'���''j"`� " Borrower,during ihe loan application process,guve materiAlly fulse or inaccurate information or statements to Lender(or fuiled
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<br />_=-?��N';"`'� to provide Le.nder wi[h uny material information) in connection with the loan evidenced by the Note, including,but not limited °�:
<br /> - "'"`�� to, representations concerning Borrower's occupancy of the Property as a principal residenec. If this Security Instrument is on a _ .
<br />-. ��a�"�,..:;�<.� .. Ieasehold, Borrower shall comply with ull the pmvisions of the lease. If Borrower ucquires fce tidc to thc Property, the t�••-�
<br /> '`` '"` leasehold and the fee title shall not merge unless L.ender a�recs to the mergcr in writing. � .
<br />"��'�'�:':;;'�� ' 7.Protectlon of I.ender's Rtghts in the Property.If Borrowcr fuils to perfornt the eovenants and agrecments contained in --
<br />_� `�'�'"'`J'"' this Securit Instrument, or there is u le al roceedin that ma c� nificantl affect Lender's ri ht� in tlie Pro en (such as a `, '
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<br />- °� - procecdin�in bankruptcy, probate, for condemnation or forfeiture or w enforce laws or re�ulations), then Lender may do and
<br />-����M'�� - pay for whatever is necesscry to protect the value of the Property and L.ender's rights in the Property. Lender's actions may
<br />'--`�`r,�;<1•;:� include n in an sums .:ecum,cl b u licn which has riorit ovor this Securit Instrument, a nn in court, `
<br /> ,�,'..�'r"'..�? P Y 8 Y Y P Y Y PP� � 6 PaY��s �' ,:
<br />-- , , rcasanablc nttorneys' fees and entcring on the Propecty to make repain. Although Lendcr may take action undcr this paragraph �
<br />'U �_� = 7,Lender does not have to do so.
<br />_J'tir.`t�c=�;��° Any amounts disbursed by Lender under this paragraph 7 shall become additionul dcbt of Bonowcr sccured by this
<br /> _ -'=�+Y=��- Sccurity Instrument. Unless Borrower and Lendcr agrce to other terms of payment, these amounts shall bear intcrest from the ���
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<br /> :,"'� , date of disbursement at the Note ratc and shall bc p�yable, with intcrest, upon notice from l.ender to Borrower rcquesting �?�,.:�.
<br />_Y`�,�;;;�..:;;h paymcnt.
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<br /> .. ';;;:r....-_r�.�; 8. Mortgagc Insui�ance.If Lender required rnongage insurance as a condition of muking the loan secured by this Security
<br /> �^,•'��.^y�� ' Inatrument, Burrower shall pay thc premiums rcquired to maintain the mortgage insurance in effect. If, fnr any rcason, the �
<br /> �-..:`. `..: •:._.�., mortgugc insurance covcrage requiecd by Lender lapses or ccascs to bc in effect. Borrower shxll pay thc prcmiums rcyuircci to
<br /> ...:�:��.:.:_ obtain covernge substantially equivalent to the monguge�nsurance prev�ously in effect, ut a cost substantially equivulent to the I
<br /> - �;:',;'s"',� cost to Horrower of the mortgage insurance previously in effect, from un alternate mortglge insurer approved by l.ender. If
<br /> ����:,_���=��• substantially equivalent monga�;c insurancc coverage is not availnblc.Borrower shall pay to Lender cach month a sum equul to
<br />-L��:;�;_�;-�;�:;;;' , one-twc;lfth of the yearly mortgage insurance premium being paid by$orrower when thc insurance coverage lapsai ur ceased to
<br />�.,:-^�::���;:�;;:r � be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of moctgage insurnnce. Lass reserve
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