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<br /> 6;,�;�.'.;4��,,-,vc,;:, ,: f. 4.���i�'Iood u�d qhee f�a�d lacur�r�ce. Borrower shAll insure�II improvements on the Propeny,whelhcr now in
<br /> '�`-`"''"'�' �"y'�Fi``'A, �. exictena or aubca�uenUy eratod,a�ainct nny I�rds.�asuo�ties.en�1 a►ntingencies, including firc, far which Lender ccyuir�s
<br /> '� '�'���` insurance. Thia insurance shull be mainwined in the �mounta wx! for the periodK that Lender requirec. Borruwer shull also
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<br /> �,�:� ' .:Y�'�.� insure all improvements on the Property, whether now in axistence or subsequently erectcxl,Agc►inst loss by flaods to the extent
<br /> � required by lhe Secretory. All insura�ue shall 6e carried with companies approved by l.ender. 7'he insurunce palicfes ard�ny
<br /> '� , i t�enew�l4�iWl be held by Lender and�hwll inciude locs payable cl�uses in favar of,and in a form acceptable to.Lender.
<br /> � � � [n the event uf loss. Bonower shell give L,ender immodiAte noticx by muil. l.ender muy nwke pra►f of luss if nut n�de - ---
<br /> • � � promptly by Borrower. Each insurance compAny concemed is hercby authorirat und directed to make payment fbr such loss
<br /> �: .,�', `~'`' •. " diroctly ta Ixncier. instead of ta BotTawer and to 4ender joimly. All or nny part of the insurance proceeds may be applied by
<br /> � Lender, at its aption,either(a) to the rcduction of the indebtednesx under tha Nate and this Security Inswment,first to any
<br /> ,r� • ° ` dclinqucnt amounts applied in the order ia paragraph 3,and then ta prepayment of principal,ar(b)tu the restorntion or repair
<br />"'��` ' of the dAnwged PropenY• Any applic�tion af Ihe proceedR to the principal sh�ll nut eatend or postpone the due date of the
<br />�'%_ `�'��� , monthiy p�ymenla which are referred to io paragraph 2,or change tha amount of such puyments.Any excess insurnnce proceeds
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<br /> :° over an amount required to pay all autstanding indebtedness uixler tha Note and this Secudty Instrument shall be paid to the
<br /> _. endty le�ally entitled thereto.
<br /> � • .. In the event of foreclosure of this Security Inatn�ment or other transfer of title to the Property that extinguishes the
<br />• ��''� � ' indebte�iness,all�ight.titte and interest of Borrower in and to insurance palicles in force shall pass to the purchaser.
<br /> ., `°.. S. Oocupancy, Preservallon, Mpintenance And Pratectlon af the Property; Borrnwer's LoAn Application; `�.
<br /> . Leasehulds. Borrower shall occupy,establish, end use the Properly us Borrower's p�incipal residence within sixry days ufter _
<br /> the execution of this Security Instniment and shall continue to occupy the Property as Borrower's principal residence for at least -�'!
<br /> • • one yeaz afler the date of occupancy. unless the Secretery detormines this requirement will cause undue hardship for Borrower.
<br /> or unle.9s extenuating circumstances exist which are beyond Borcawer's wntrol. Borrower shall notify l.enders of any ��%`��"=
<br /> exlenuatiaF circumslances.Borcowcr shall not rammit waste or destroy,damage or substantially ch�nge the Property or allow ��`��`""
<br /> . � �•�°,•� the Propeny�to deteriornte, reasonable wear end tear excepted. [.ender may inspect 1he Property if the Property is vacant or �=='T-� _ °
<br /> .`�'�` ' •�t��`;'"�'r.'�� abandoned or the loan is in default. Lender may lake reasanable aclion ta protect and preserve such vacant or abandoned � z.,
<br /> ���"''`:'��� �� Property. Borrower shall also be in defaull if Borrower,dur�ng the loan application pracess,gave ms►terially false or inaccurnte
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<br /> • infarnwtian or alatements to I.ender (or failed to provide l.ender with any materlal information) in rnnnection with thc loan ��
<br /> ____ �_ tV���hy rhe Note. including, bw not limited to.representations concerning Bc�Rawer's occupan�y of the Property as a ____
<br /> � '�,'�'•:��. prin¢ipal residence. !f this Securiry lastniment is on a Ieusehold, Harrower ahall comply with the provisians ot the iease. if
<br /> Borrowe�acquires fee title ro the Property.tha leagehold and fee tide s�hhall noc be mc�ged unless Lender agrees�o the merge:iu �'."_R:^-
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<br /> 6. Cb�r'ges to Borrower and Pratection ot l.ender's Righhs in the PrapBrly. Borrower shall pay all governmental or +, _. _
<br /> municipal charges, fines and impositions thut are not includcd in parograph 2. Borrower shall pay these obligatiuns on time
<br /> � direcdy to the entity which is owed the paymont. If failure tu pay would udversely uffect L.ender's interest in the Propeny,upon _.��_...__-
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<br /> Lender'R roquesi Borrower shall promptly fur.�l�to l,.end�r.receiptK evidencing these payments. _f.,�_.'._,��_..
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<br /> If Borrower fails to make these payments or the puymnnts required by purugruph 2,or fuils to perform any other covenants , - •
<br /> cmd agreements containod in this Se�uriry Instrument,or th@rr is a legal pra:eeding that mny significuntly affixt L.ender's rights ,;' � :�-
<br /> in the Property(such as a proceeding in bnnkruptcy, for condemnutiun or to enforc�Inws or regulutions),then L.ender may do
<br /> . ctnd pry whatever is necesssiry to pratect�he value of the Propetty and L.emier's riRh�n in the Property, including paymeN of , _.r.�s.;,.:
<br /> taxes,hawrd insurunce and other items rnentioned in paragraph 2. �.- .`�'�='"""°
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<br /> Any amuunts disbursed by L.ender under this parngraph shull become an adJitional debt ui'Borrower and be secured by I+� �u ___
<br />' � � ,,_, ' this Security Instrument.Thesc umounts shull t+e•rr inlcrest fr��m the date of disbursemen�,ac the Note rnte,and at the option of ,,.;}.,`,...'__�n'
<br />, ..;.' . Lender.�hall be immediately due and puyable. ;.a< ���•��{:
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<br />' 7. Condemnalfon. The prarer�ds of any uward �ir cluim tix dumuges, direct or ronseyuentiul, in connection with any � ,
<br /> condemnation or other taking of un�pari uf die Prupeny,or for ronvcyunce in plare of coixfemn•rtion,are hereby ussigned nnd . •
<br /> .� shall be paid to l.ender to the eatent of the full am��unl uf the indeMednesti thut remaim unpaid under Ihe Note und Ihis Security � '� �. _
<br /> Instniment. Lender shull apply such pr�xti•eJ.tu the reducti�in of the inJeMtednes�under the Ni�te and this Securiry Instniment, 4
<br /> first to uny dclinyuent amounts uppli��l in �hc urdcr provided in paragraph 3, unJ thrn to prep•rymrnt of principul. Any
<br /> - �pplication of thc prcx�'eds t�► the principal shull nul rxtend or �xistp�inr the duc Jatr ut'the munthly payment,, whirh are ,
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