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201008179 .,�, ser:urity is nat lessaned. If the restoratbn ar repair is not ec;anamically feasible or Lender's security v�rould be lessened, the insuranoe praceeds shall be applied first ta the reductbn of any indebtedness under the Seoond Note ant� this Security Ir�trumeM. Any exc�ss ittsuranc� pmc,eeds over an amount required � pay aN outstanding ir�debtedness und� the Second Nate and this Securit�► Instrumant shaN be p�id io the entity legalty entitled thereta. in the event of foreclosure of this Securily Instrument ar other hansfer af tit� to the Property that extirguishes the indebtedness, all right, tide end irrterest af Barrower in and ta Insurance polk�es in forr•a shall p�ss t4 the pur+chaiser. 4. Occupenry,Proservatian,Main�enanceand Pro�ctlonaf the Property;Barr+�w�srsLo�an ppplication;l.sassholds.8orrower shaM , estaWish, and t�e the pro as Borr�wei's prinrcipal residenae after the executian of th�ewrity InstrumeM, end Bomow� r at Ie�st ane Borrower, iF initially more than ana p�san are Barrowers) st�ll aar�tinue ta occ�py the Prnperty as Borrower's principal residenoe for the tarm oT ihe Securlty instrum�t. "Pri�l residence" shall have the seme meaning as in the Loan �reement. Borrower shail rat commit waste or destrvy, dam�ge or su�tarrtielly chanpe the Prnperty or elbw the Praperly to deteriarate, reasor�ble wear ar� t�r excepted. Bomower shall also be in def�ult if Borrower, during ihe ban a plicatian p�vicess, �ave materially fralse or ir�ccura�te lnformatbn or statements i�o Lender �or iai�d to prnvi�e Le�der with arry material in�amn�ation) in oannectbn with N�e ban a�idenced by the Note, induding, but not Amited to, representations conceming Bormwer's oxupancy of tMe Properly as a principai residenoe. if this Security Instrument i� an a leasahqld� Bormwer sheN obmph► with �e provisbns of the lease. If Bomawer aaquir�es fee ti�e to the Prop�ty, the leasehvld and fee tiHe shall not be merged unies�s Lender agrees � the merr�Ier in writing. S. Charp�s� 6orrowsrand Proi�ctlonof' Lend�rsRightstn ths Proparty Borrower shall paY aq govemmeM�l ar rnunic,ipal char�e�, �nes and impositions that are not included in P�ra�raph 2. Borrower shaa pay theae obligatbns on time diredfy tv the entity whictt is owed the payment. If failure ta pay w�auld adversely affect Lender's interest in the Property, upan Lende�s request 8onawer sha� promp�y fwn�h �o Lender receipts evidendng these paymehts. Bamowe� shail promptly disc�►ar�ge any Ii� which has prioriiy aver thts Security IristrumeM in the rr�anner provided in P�r�graph 12(c). If �crrower i��ls to make these peymeM� ar the pmp�rty charg�s required by Paragraph 2, or faNs top�r�orm any ather aavenards and agreements aorrtei �� in this Security Instrument,. ar there is a ieg�l prqceadirp that may signific:errtly af�ect Lender's ri�trts in tha Properly (such as a proceeding in bankruptcY� for cond�nna�on or � enfar+ce laws or regulatior�s), then Lender may do and pey what�rer �S nece�sary io protect the value of the Property arxi Lender's rights in the Praperty, �cludirq paymertt ot taxes, �rd insu�ance and other items mentioned in Para�raph 2. ali amour�ts d� � ttte S�ecretary fo y r the Mar�a� ge I�� uranae Preni�um a defined i�n t e Loan� Agrsement as waN ais all sums due tp the loan servicar fvr servicing activities as deflned tn the Loen A�reernerrt. My smow�ts disbursed by Lender under this Parapraph shall beoame an additionat debt of B�mawer as pmvidad ior in the Loen �reement and shep be sacured by this Ser.urity Instrument. 8. Insp�ction.Lender or its ageM may enter on, inspect ar make appraisal� of the Prope�"ry in a reasonabl� manner and at r�sonable tlmes pmvided that Lender shall give the Barrawer notice �xio� to arry inspeaion or appraisal speciiying a purpose for the inspectbn or ap�a i�a) wF�► must be related to Lender's iMerest in tha Property. If the Prnperty is vacaM nr abendoned ar the I�n is in detault, Lander may take reasorreble ac�on to protect and preeerve such vacaM or abandoned Propatly without ndtice �o the Borrower. 7. Condsmt�Non.The proceed� ot ar�y award or daim ior damages, dN+e�t or oQr�sequ�rttial, in connedbn Witl► any ooridemnation ar other tak�of any p�rt of the Prope�iy� or for oonv�yance in place af condemnatfan shaN he paid to Lend�r. proceeds shaN be appiled first ta the radudion of arry indebtedness under a Sevond Note and tMis Seaurity Inshumerrt. Any exce�s prdcseds over an amount requ�ed tn pay all outstanding irx,lebteclness under the Seoond Nate end this Sew� Instrument shall be paid to the entity IepapY entided there�a. 8, ees. Lender may cnllect fees and c�arges auth�r�ed by the 5ecretary far the Home �quity Comrersloh Mor�a�ge Insurence Pro�ram. Fint Art�brn 4ar� r�od�wllon swdo.. N.w..k� F�1 S.aa,d s«nriy, Ma6�nMt O Z008 Rrr! AeM�k�n (iMl &fMM BWuWw�a LLC FN.PSM LIB1a dU08 DN�L Al6GlAI� OOa 14 qGNE F'� 3 ��