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<br /> _ — periods that L,ender requir+cs. The inaurancc cartier providing�ho insururtce shall 6e chosen by Borrowcr Ruhject to Lender s
<br /> __ �pproval which�hall not be unreasonebly wlthheld. If Borrower falls lo maintafn roveragc deseribed ubove.Lcnder may,rt
<br /> Lenderk optian,obtain coverage to protxt Lender s rights in iho PropcAy In accordancc wi�h puragrnph 7.
<br /> All insumnce policfes and renewals shAll 6o acceptable to L.ender and�h�ll include a standor+d mortgaYe elauce. Lender
<br /> -- ehall have the►ight to hold tha policles and rcnewals. !f Lender requires.Horrowar shall promptly give ta Lxnder all receipts
<br /> of paid prcmluma und rcnewal notices. In�he event af loss. Bortower shall�ive prompt notice to�tie inruranco cartier a►d
<br /> l.ender. Lender may mako proof of loss if not mada promptly by Borrower.
<br />�,�� Unlesa Lender end Borrawer otherwiso agree in writing,insurance procceds shall be applied to restort+tion or Rpair of '
<br /> thc property dnmaged. if the rcgtcNetion or repair is economically feusible and Lenderg security is not lessened. !f�he
<br /> restorati�n or repeir is not economicelly feasible or Lender's securlly would be IeAgened. the insumnca proceeds ahall be
<br /> pppliod to the sums secure,�1 by tbia Security Insuument,wlxther or not then due,with any excess poid to Borrower. lf
<br /> Bortower abandons the Property.or dces not nnswer within 30 daya a notice from Lcnder that the insurance carrier has
<br /> — offered to senle a cla�m,then Lender may collcet the insurance pracads• Lender mey use the proceeds to repalr or restoro
<br /> �he'propeny or to pay suma eecured by thia Seeurity Inctrument,whether or not then due. The 3U-day pe�fod will begin when
<br /> 1he notice is given.
<br /> — °-°-_°° •- � Unless Lendcr und Borrower othenvise agree in writing,tuty upplication of procceds w princlpal shall not extend or
<br /> � postpone the due date of the man�hly puyments referred to in psuagraphs I and 2 or chsu►ge the amount of the payments. If -
<br /> �r�'""--�--�"_°i under paragraph 21 the Property ie acquired by Lender,BotrowerR dght to ony insurance policies nnd proceed.v resuUing
<br /> from damuge to the PropeRy pr�or w the acquisition ahall pass w l.ender to the extent of the suma secuad by this Security
<br /> — Insaument immediatcly prior to the s+cquisition.
<br /> - 6. Occupancy, Preservadoa, Mainteaance and Protectton ot the Property; Borrower's I.oa�n Applicatbn;
<br /> - � I.taseholda Borrower shall occupy.establish.and use�he PropeRy as Bortower's principal residence within siaty days af'ter
<br /> � 1he execution of this Securfry Insbument and shall continue to occupy the Property as Borrower's principal recidence for at
<br /> ._�_,,,,� least one yeu aYter d�e date of occupancy, unless l.ender otherwise agre.es in wridng, which consent shall nat be _
<br /> -.•n•ss•:,����- *�- unreasonably withheld,or unless eatenuuting ci�umstances exist wMich ere beyond Borrower's control. Botrower shall not
<br /> ��;�=,,�;��� destroy.dAmage or impair ihe Property,allow the Property todetedorate,or commit wastc on the Property. Borrower shall
<br /> ;�,,,: ';'a"�`.�, . 6e in default if any forfeiture acdon or proceeding,whe�her civil or criminal,is bagun that in Lender's good faith judgment
<br /> could result in forFeiture of ihe Property or othenvise materially impair the lien created by this Security Instrument or
<br /> �—,�y��� Lender's securiry interest. Bo�wer may cure such a default und reins�ate,as provtded in paragraph 18,by causing the action
<br /> - � . or pcoceeding to be dismissed with a ruling that,in l,ender's good fai�h deterntination,precludes forFeiture of the Borrower's
<br /> ��y�,,,,� interest in the Property or other material impairment of the lien creuted by this Securiry [nstrument or Lender's security
<br /> interest. Bortower shall ulso be in default if Borrower, dudng the loan application process, gave materially false or
<br /> F� *��'��� inaccurate information or stetements to Lender(or foiled to provide Lender with any materfal information)in connection wfth
<br /> -� f'�°�. the loan evidenced by the Note,including, but not limited to, representations conceming Borrower§occupancy of the
<br /> ' "' " p�+operty as a principal residence. If this Securiry Inswment is on a kasehold,Borrower shall comply wi�h all the provisions
<br /> of�he lease. If Borrower acquires fee ttde to tha Pmperty,the leesehold and the fee title ahall not merge unless Lender ag�es
<br /> -_�.�. — ■ ro the merger in writing.
<br /> ��� .�:�:. 7, protecNon ot l.ender's RiQhts in the Pmperty. If Bortower fails to periorm the covenants and agreements
<br /> Yf;;� cantainod in this Security Insqvment, or there is n legul proceeding that may sign�ficatnly afiect I.ender's rights in the
<br /> �+'°.� Property(such as n proceeding in bankruptcy,probate,for condemna�ion or forfeiture or to eoforce laws or regulations).�hen
<br /> �� Lender may do and pay for whatever is necessury to protect the vnlue of thc Property and Lender's rights in the Property.
<br /> - � � Lender's actions may include paying any sums secured by u lien which has priority over this Secudty Instrument,appearing _
<br /> :.�,� ° ,_• `��p^� in coun,paying reaaonable attarneys'fees and entering on the Property to make repairs.Although l.ender may take action
<br /> • y;,• :'� •��'" f under this parugraph 7.Lender dces not have to do w.
<br /> �^: •`-�" My sunounts disbursed by Lender under this pnrogR+ph 7 shall become additionul debt of Borrower secured by�his
<br /> -" �^��-�'�'W Security Insnument. Unless Bortower and Lender+�gree to othe�tertns of payment,these amounts shull bear interest from the
<br />-�,� �"��''°"� " date of diabursement at the Note rnte und shall be payable,wi�h imerest,upon notice from Lender to Borrower requesling
<br /> �. ` w.•�r.. . payment.
<br /> �'�� ..�r,. � 8. Mortgage Insuronce. If Lender required mortgage insurance ac u condition of making the loan secured by this
<br /> "�'� ""'"�`�" Securiry Insuument, Borrower shall ppy the prcmiumc required to maimain the mortgage insurance in effect. If,far any
<br /> �.'��r'�'' rcuson, the mortgoge insurpnce coveruge �equired by Lender lupses or ceases to be in effect, Borrower shall puy the
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<br /> ��'" �.. �.: premiums rcquired to obtain cover�ge substuntially equivUknt tu�he mortguge insurance previously in e ect. at a cost
<br /> . .,_" substantially equivalent to the cost to Borrower of the mortgage insurs�nce previously in effect,from un altemate mortgage
<br /> _ �� •,�; I- � insurer approved by Lender. If substnntiolly equivalent moriguge insurnnce coveruge is not available,Borrower shall pay to
<br /> -_ `;,,,;,_.� � I Lender each month n sum equa t to one-twe l f t h o f t h e yearly mort gu ge insurance premium being paid by Borrower when the
<br />;��,"��' • insurance coverage lapsed or ceused to be in efiect. Lender will uccept,u�e and retain these payments s�s a loss ceserve in lieu
<br /> � of mortguge insurance. Loss reserve payments muy no longer bc:requircd.ut the option of Lender, if moAguge insurance
<br /> _— �: � . ' �~ � coverage(in the amount and for�he period thu�Lender reyuiresl provided by un insurer Approved by Lender ugain becomes
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<br /> � � avoilable und is obuuned.Borrower shull pay the premiumz reyuired In muintain moAgage in�urance in effect,or to provide u
<br /> - -- ' loss reserve,until the requirement for mortguge inxurnnce ends in accordance wilh s►ny wrinen ugreement between Borrower
<br /> .,:u..� ,�.�.;-. �'. and Lender or applicable law.
<br /> 9. Inspection. Lender ur i1s ngent m•ry mal;e reusonable entrieti upon und intipec�ions of the Pivpeny. Lender shall
<br /> �p ; �. give Bo�TOwer notice at the time of or prior to un incprction �pecifying nusonable cause for the impection.
<br /> �;�. 10. Condemnation. The praceeds of any awurci or rl•rim titt Jatnages,dircct i�r conxeyuemial,in connection with nny
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