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<br /> period.v thnt Lender requirca. The insumnce cerrler provldin�the ineurance ahall be chasen by Bortower subject to Lender'a
<br /> ` npproval which�hall not be un�asonobly withheld. lf BoROwer fuils to mainwin covem�e desc�ibed above,Lender muy.at
<br />"' `� Lenderk option,oMnin covera�e to protect Lendor's�ights in theProperty in accatdance with puragraph 7.
<br /> All inauranca policies t�nd rcnewals shall be acceptuble to Len�er and ahull include a standa�d mortgage clause. Lender
<br />� ""� �shall have the rfght to hold the policies and renewals. IP Lender requircs,Bortower shnll promptly give to L.ender oll receipts
<br /> � �-'���'.°"�'� of paid prcmfums and nnewel nottces. In the event of loss.BoROwer sh�ll �ivo prompc notice to the incurw�ce carrier ond
<br /> L.ender. Lender muy mnke proof of loss if nat mede promptly by Borrower.
<br /> -- Unless Lender and Borrower othenvise agrce in w�iting,insuroncc procads shall be applied w restoration or repair of „
<br /> ��.� �..`..
<br /> � �.•,�� the Property damaged. if the restorotion or rcpuir is economically teusible and Leode�:s secu�ity is not lessened. If the
<br /> �I1��,�:n�':•' restorotion or repuir is not eco�omieally fearible or Lender's security would be I�sened.the insurence proceedg sholl be
<br /> A • applied to the sums secu�ed by this Security lnsuument,whether or not then due, with anyexceas paid to Borrower. [f
<br /> Borrower ubandons ihe Property,or das not answe�withfn 30 days a notice from I.ender that the Insumnce carrier has
<br /> ,,��,�,. , offe�+ed to senle a cluim,then Lender may collect the insurance proceeds. Lender muy use the procxds to repuir or restore
<br /> � >- q�c Property or to pay sums secured by thi:Security lo�trument.whether or oot t6en dua. The 30-day period will begin when
<br /> °' �1,,- - . ;�:.-. -�, . the notice is given.
<br /> ��^•<<-�• �. ' Unless Lender and Borrower otherwise agrce in wdting,any upplicution of praceeds tu principal shall not extend or
<br /> ����`-•>•�'w`. . postpone the due date of the momhly payments referrcd to in paragraphs 1 and 2 or chAnge thc amount of the paymenta. If
<br /> ��1'�`'� under paragrnph 21 the Property is acquired by Lender,Borrower's right to uny insurunce policies and proceeds resulting
<br /> ,��-^�� � from demage to tho Propeny prior to[he ucquisition�hnll pass to Lender to the extent of the sums secured by this Secu�iry
<br /> ' " ' "``'�`• Inswment immediately prior to the acquisitfon.
<br /> �`�''""�`�''``�' 6. Occupancy� Preservadon, Maintenpnce and Protection ot the PropeMy; Borrower's Loan Applicatio�;
<br /> _���.���;_ ,��!, Leaaedolds. Sorrower shntl occupy.estnblish.and use the Propeny ns Borrower�s pri�cipal rcsidence wlthin slxty days after
<br /> _ � ; „ . �• �= the executlon of this Security Instrumeot and shall continue to occupy�hc Property as Boreower�s principal residence for at
<br /> ' ',. ° .� :�: least one year after the date of occupancy. unless Lender othenvise ugrees in writing, whlch consent shall not be
<br /> � '^:: �, �
<br /> unreasonubly withheld.or unlcas extenua[ing circumstances exist which nre beyond Borrower's con[rol. Borrower shall not
<br /> —';�. . ° destroy,demage or impalr the Piroperty,ollow the Property to deteriorate,or commit wuste o�the Property..Borrower shull
<br /> — , .. ,� be in default if any forfeiture action or proceeding,whether civil or cdminal,is 6egun that In Lender's good faith judgment =
<br /> = could rcsult In forfeituro of che Property or otherwise muteriully impair the licn creuted by this Secudty Instrument or
<br /> _ • •• y Lende�'s security interest. Boirower may cure such u default and rcinstnte,ax provided in purngraph I R,by causing the action _
<br /> -- , or praceeding w be dismissed with n ruling thAt,in Lender's good faith detenninatbn,precludes forFeiture of the Borrowar's
<br />=-_ " � � : ��f' , intenest in the Property or other muteriul impuirtnent of the Ifen created by [his Security I�stnimrnt or Lendar's security
<br /> •� intercst. Horrower shuli also be in default lf Borrower, during the loun application ptceess, gave mute�ially fulsc or
<br /> — J: . , � inaccurnte fnformation or statements to Lender(or fniled to provide Lender with uny mate�al informution)ln cannection with
<br /> "�� the loan evidenced by the Note, including, but not limited to, representations conceming Borrower's occupuncy of the
<br /> _ � -.- •-�- p�pr�ty us a princiQvl residence. [f this Securiry Instrument is on u leusehold,BoROwer shall comply with ull the provisions
<br /> '� � of the lense. lf Borrower ncquires fee tltk to the Propeny,the leaschold and the fee title shall not merge unless Lender ngrces
<br /> --� w the merger in writing.
<br /> -"� " ' 7. Protection of Leoder's Rights in the Property. If Borrower fuils to perfo�n the covenunts and agreements
<br />-`:^�� ` contuined in this Securiry Instrument,or there is u legal proceeding �hat muy significantly Affect Lender's rights in the ��_:.
<br /> Propeny(such ns a proceeding in bankniptcy,probate,for condemnution or forfeiture or to enforce luws or regulations),then ��
<br /> � �,� ,' . or whatever is necessu to rotect the vulue of the Praperty and Lender's• rights in the Property. r
<br /> .� �ai, Lender may do and pay f ry p
<br /> - ' "•`� " ° Lender's nctions may include paying nny sums secured by a lien which hus prioriry over this Securiry Instrument,nppeuring
<br />-_" ° in court,paying reasonable attomeys'fees and entering on the Property to mnke repairs. Although Lender may take ection
<br />' " '' �� under this parngraph 7,Lender das not hnve to do so. �__
<br />-;, ' ' '� Any amounts disbursed by Lender under this parugraph 7 shall become additional debt of Borrower secured by this =
<br /> " ' . . "� Security Instrument. Unless Borrower and Lender agree to o�her tertns of puyment,these umounts shall benr interest from the
<br /> ' �^°' d, date of disbursement at the Note rate ond shnll be payuble,with interest,upon notice from Lender to Borrower requesting ��
<br />_ . - . payment.
<br />��. ' , 8. Mortgage Iosurance. If Lender rcquired mortguge insurnnce as u condition of making the loan secured by this � _
<br /> � � Securiry Instrument,Borrower shnll pny the premiums rcqumed to mnintuin the mortgage insurance in effect. If, fo�any �``—
<br />-::�"� u �� � reoson, the mortgc�ge insurunce coverage rcyuired by Lender lopses or ceases to be in effect. Borrower shull pay the __
<br /> _� „ p�emiums required to obtnin wverage substnntiAlly equiwlent to the mortgage insurunce previously in effect, at u cost _
<br /> -h �, ..��. ' substuntiully equivalent to tMe cost to Borrower of the mortguge insurance previausly in�ffect,from nn alternute mongage `�'''
<br /> ,:, , ., insurer upproved by Lender. !f substantiully eyuivnlent mongnge insurrnce coverage is nat uvoiluble.Bortnwer�hull puy to
<br /> :�� ° Lender euch month a sum eyuul�o une-twelfth of the yearly mortgnge insurAnce premium being paid by Borrower when the _N
<br /> • � ,:��:.s�� insurance covernge lupsed or ceused to be in effect. Lender will uccept,use und retain thes�pAyments as u loss rcserve in lieu �-
<br /> '• � ' of mortgage insu�ance. Loss reserve puyments muy no longer be required,at the option of Lender, iF monguge insurunce _
<br /> --� � coverage(in the nmount nnd for the F+eriai thut Lender rcquires)provided by un insurer approved by Lender ugAin becomes
<br /> ,•'' .�'�`4 uvailable nnd is obtained.Borrower shull pay the premiums requ�red to maintuin mortgage insur.�nce in effect,or to provide a
<br />`',; ;�'-��'°. • � loxs reserve,until the reyuirement fur mortgage insurance�nds in accordance with uny written agreement between Borrower �.
<br /> --- , ond Lender or applicable luw. �
<br /> _ • � 9. Inspection. l.ender or its�bent may make reu,onuble entries upan and in,pectiuns of th� Propeny. Lender shnll
<br /> give Borrower notice ut the tima of or priur to un in�pection.pecifying rea,onuble cuuse for the inspection.
<br /> • L0. Condemnation. The praeeds of'any award or claim for damages,direct or comeyuentiul,in connection with uny r
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