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<br /> S, fiawtl or Property Insurnnce. Barrower shuli keep the improvements now cxisting an c�reuRcr erected �n thc�
<br /> Praperty insured agaiast lass 6y tire, haznrds included within the term"extended covcr�ge" and nny ather haxurds, lnclud�ng�
<br /> floods or flaoding.for which L.ender requires insurnnce.This insurance shull bc maintained fn thc amo�+nts uRd far the periodx�O —
<br /> that Lender requires. The insurance carrier provlding the insurc�nce shnll be chasen by Bonawer subjcct to l.ender's upprovnl '
<br /> which shull nat be unrwsui�ab{y wiihheld. if Burruwcr fails ta mainwin rnverege desrribed nMove. I.endcr may,at l.ender's �
<br /> aption,abtuin covecage to pmtoct Lender's rlghts in the Prupetcy in accordance with parugmph 7.
<br /> All insumnc�policies and renewuls shall be ncceptable ta I.�nder nnd shull include a stan�iurd nzartgage duuse. Lender
<br /> shall huve thc risht to hold the pc�licies and rcnewuls. If Lender requires,Barrower shall promptly gtvc ta l.cnder nll rcccipts of
<br /> pald premlums and renewul natfces.ln the event af loss.Borrower sh�ll give prompt natice to tha fnsurance cunIcr aid Lender.
<br /> I.ender may mnke pcoof of loss if not made promptly by Hortower.
<br /> Untess Lender nnd Honower othc;nvise ag�ee in writing,insurnnce procevds shall be applted to restoratiun or repair of the _
<br /> Pmperty damaged.If the restoration or repair is economically feasible and l.ender's secur�ty is rtot lessened.!f the restorntion or
<br /> cepair is not ernnomicaily feasjble or i.ender's secue�ry wnuld be lessene�.the insuranee procreds shull be applied to the sams
<br /> secur�ed hy this Security lastrument, whether or not then due. with any eacess paid to Borrower. If Barrower ubandons the
<br /> property.or does not answer within 30 days u nodce from Lender that the insurance c�urier hus offeral to settle a claim,then
<br /> Lender may collect the insurance proceeds. Lender may use the proceeds to repalr ar restore the Property ar to pay sums
<br /> secured by this Secudry Instrument.whether or not then due.The 30-day period will begin when the notice Is given.
<br /> Uniess Lender and Borrower otherwise agree !n weitin�. any appiication uf proceeds to pr�ncipal shali not eatead or {_
<br /> postpone the due date oi the monthly payments referred to fn paragraphs 1 and 2 or chnnge the amonnt of the payments_ i[
<br /> under paragrnph 21 the Property js acquired bv Lender.Borrowsr's�lght to eny insurance poltctes and proceeds nsultin�from
<br /> �amage to the Pnoperty prtor to the acquisitton shall pass ro Lender to tho extent of the sums secured by this Secur�ry Instnur�ent
<br /> immedintely priar to the acquisidon.
<br /> 6.Occupancy,Preserv�Uon,Maintenance and Proicxtion oi the Property;Bormwee's I.oan Application;Leasehotds.
<br /> Horrnwer shalt occupy.establish.and use the Property as Borrower's principal residence within sixry days ufter the eacecudon of
<br /> t6is Security Instniment and shall continue to occupy the Properry as Boreower's principal residence for at least one year aRer
<br /> the date of oocupancy. unless Lender otherwise ag�ees in writing. which cansent shall not be unreasonably withheld, or unless
<br /> eatenuating ctreumstences exlst whlch are beyond Borrower's control. Borrower shall nat destroy. damage or impair the
<br /> Property. allow the Pcoperty to deteriornte. 9r commit waste on the Propercy Borrower shall be in default if any forfeiture
<br /> actian or pmcxa�iing.whether civit or criminal,ia i�egun that in I.euudar's gwd faith ju�g�tcai conl�r�sSt fn furfcltssf�Qf ihe =
<br /> Property or oiherwise n�aterially impair the lien created by this Security Instrument or Lertder's security interest.Borrower rnay
<br /> c:use such a default end neinstate.as provIded in paragrnph 18.6y causing ths action or pra:eecltns to be dismissed wlth a ml�ng
<br /> ¢hat. in Lender's good faith deterraination. precludes farfeiture of the Horrower's Interest in the Property or other material
<br /> impairtaent of the lien crentad by this Sucudry Instrument or Lender's security interest. Borrower sliall also be in default if
<br />— Borrower,during the loan application prooess.gave materially false or inaccurate information or statements to Lender(or faa�od
<br /> to pmvtde Lender with anY matedal infomu►uon)in conrtection with the loan evldenced by the Note.irtcluding,but not limited
<br /> to. r�epresentations oonceming Bormwer's accupancy of the Property as a principal residence.If this Security[nsuument ls on a
<br /> leasehold, Borrower shall comply with all the provisions of the fease. If Bomower ucquires fee dtie to the Properiy. the
<br /> leasehold i►nd the fee tlde shall not merge unless I.ertder a�rees to the mer�er in writi�g.
<br /> 7.Pratecs�on oi Lender's Rfghts in the P�+op4rty If Borrower fails ro perform the oovenants and agreements contained in
<br /> this Security Iasuument. or there is a legal praceeding that may slgnificantly affect Lender's r�ghts in the Property (such as a
<br />— proeeeding in bankruptcy.prabsite.for condemnatlon or forfeiture or to enforce laws or regulattons),then I.ender may do and
<br /> ;�ny for whatever is necessacy w pmtect the value of the Praperty and[.ender's rishts in the Property. Lendat's aMions mny
<br /> i�lude paying any sums secured by a tien whlch hns prIority over this Securlty InsUVment, appear�ng in court. paying
<br /> reasc�nable a::arneys'fees and entedng mn she Property+to meke repa[ra.Although Lender mqy tatc�.action under this paregaaph
<br /> 7.Lender das not have to do so. �
<br /> Any amounts disburiod by Lender under this paregeaph 7 shali become additional debt of Borrower serured by this
<br /> Securlty Instnunent. Unless 8orrower and Lender agree to other terms of payment,these amoun�c shall bear intemst from the _.
<br /> � dnte of disbu�xemcnt at thc Nute rate and sh�S!bc payablc, with intcrest, upon nodcc from Lendcr ta Borra�ver requesting
<br /> payment.
<br /> 8.Mortgege Insurenee.If Lendee requir�d mortgage insurance as a coaditton of makin�the loan secu�d by this Securtry
<br /> Instniment, Borrower shall pay the premiums requirad to maintain die mortgnge insurance in effect. If, for any �+eason. the •
<br /> mortgage insurnnce rnverage required by Lender lapses or ceases to be in effect. Bon+ower shall pay the premiumc required to '
<br /> obtain ooverage substandWly equlvalent to the mortgage insurance prevtously in effect.at a cost substanti�lly equivalent to the
<br />= mst to Borrower of the mortga$e iasurance prevlously in effect. from an altemate mortgege xnsurer approved by Lander.it ..
<br /> substentiulty equivalent mortg,�ge ins�►rance coverege is rtot uvailable,Borrower shall pay to Lender each month a sum eqaal Qo
<br /> one-twelfth of the yearly mortgage insurnnce premium bein�paid by Borrower when the insurance coverage lapsed or cpsed to .
<br /> _ be in effect.Lender wiil accept.use and reuun these payments as a loss rese*�'e In lieu of m•�rtgage irtsurance. Loss reserve _
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