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<br /> � � periods that Lender requiros. The ineurance cwrier provlding�he insurance ahdl be chosen by Bortuwer subject to l.ender'�
<br /> epproval which�hall not bc unreasonably withheld. If Borrower fuils to maint�in coverage descdbed above,Lender may,at
<br /> , , ;, .I•�: L,ender a option.obtain coverage to protect Lender's rights in�he Prapercy in occordance with parogreph 7.
<br /> All insurance pol(cics and renewuls shutl be acceptable to Lender and shnll include a$tundard mortgege clause. l.ender
<br /> .'�` ahall have the right to hold the policies and renewals. If Lender requires,Bonower shall promptly give to l.ender all receipta
<br /> .� ' �- of paid prcmiums and r�enewal naices. ln the event of lovs,Borrower shall gfve prompt nwice to the insurance curkr and �
<br /> � t Lender. Lender may makc proof of losa if not made promptly by Borrower.
<br /> � Unless Lender and Borcower atherwise agree in writing.insurance proceeds shall be applied to restoration or repair of
<br /> ���i;�y�;�F: the Property demoged, if'the restoratian or repair is economically feasible a�id l.ender's security ia not lessened. If the
<br /> - restoratbn or repair is not economically feasible or l.ender's secu�ity would be lessened,the inaurnnce proceeda shaU be
<br /> -���=�� applied to the sums secured by this Security Insuument. whether or not then due, wilh any excess paid to Borrower. If
<br /> ��'�'° p' Borrower abandona the Property,or dces nat nnawer within 30 days s notice from I.ender that 1he insurance cerrier has
<br /> •�� offered to settle a claim,then Lender mey collect the insurnnce pmceeds. Lender may use the proceeds to repair or astone
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<br /> �,.,.._;;y�;;��� the Property or to pay aums secured by this Security Instrument,whe�her or not then due. The 3tWay period will begin when - -
<br /> ;�-��:��;,� the notice is given.
<br /> Unless Lender a�d Borrower otherwise agree in wrfting,Any applicatian of proceeds ta p�incipal shall not extend or
<br /> ; postpone the due dato of the monthly payments refcrred ta in paragraphs� and 2 or chenge the amaunt of�he payments. If _.
<br /> �, _., ���y�: under paragraph 21 the Hroperty is acquired by Lender, Borrower's right to any insurance policies and proceeda resulting
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<br /> • ••°`�''" '�''�``��•��-•� from damage to thc Property pr�or to the acquisition shall pass to l.endcr to ihe extent of tho auma secured by�his Secudty -
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<br /> � ����:�F.,; �'�. Inatrument immedfately prior to the acc�uisition.
<br /> '�.�� ''='i•'�`�" 6. Occ��pAncy. Areservation. Mainten�ce and Protectton ot tbe Praperty; Borrower's Loan ApplicAtion; �
<br /> — ��"""°�• � � � Leoseholda. Borrower shall accupy,establish,and use the Property a.s Bon'awer's pnncipal residence within sixry days af�er _
<br /> — ��Y, .�� �°!.�;; .•. • the execution of this Security Instniment and shall con�inue to occupy 1he Property us Borrowers pdncipal reaidence for at
<br /> 7� . .:,i:�� least one year afler the dute of occupancy, unless Lender othenvi4e ngrcea in writing, which cansent ahall not be
<br /> -�� � ' unreasonably withheld,or unless extenuating circumstances exist which ure beyond Borrower�control. Borrower shall not —
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<br /> ••:n�-�� �r• r.,� l��,�;;�', destroy,demage or impuir the Piroperty,allow the Property to detedorate,or commit waxte on ihe Property. Borrower shall W
<br /> _ '-`:�f�' u,�'�:<-+w be in default if any forfeiture action or proceediag,whether civil or criminal,is begun that in Lender's gaad faith judgment �
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<br /> --� •.�- t� • :. � could result in farfeitute of ihe Properry or otherwise materialiy impafr the lien created by this Security Instrument or �.
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<br /> :._;� �;,�"���..--=n . Lender§security interest. Borrower may cure such a dafault and reinstate,sis provided in paragraph I S,by causing the action —
<br /> g� or praceeding to be dismissed wi�h a ruling�hat,in Lender?s gaod fuith determination,precludeR forFeiture of the Borrower's
<br /> W"`�` " �� interest in the Property ar other mateds�l impairment af�he Iten created by this Security Instrument or Lender's secudty _
<br /> �� "'r;�1� � . ` n� ' interest. Borrower shall also bc in defnuU if Barrower, during the loan applicetian process, gnve materlally false or
<br /> �''°-= , rt_.� ,�_ .',.; .�,:�� inaccurate informa�ion or s�atements to L.ender(or failed to provide I.ender with any material information)in connection with
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<br /> ,��. ' �, ;� the loan evidenced by the Note, inciuding,but nut ii�iute.i to, rcprt�cotations conceming Bormwer c occupancy of e
<br /> - .' property as a principAl residence. If this Security Ins�rumen�is on u lerasehold,Borrower shall cumply with all the provisions �..-.
<br /> � �� . � ' of the lease. If Borrowcr ucquires fee title to the Property,the IeaseFald and the fee title;hall not merge unless Lender agrees
<br /> � � �� " to the merger in writing. —
<br /> ��"`" 7. Protectbn oP l.ender's Rights in tf�e Property. lf Barowcr fails to pedorm the covenants nnd ugreements
<br />-,_,r�`•fi .� . L � ' ''�� cantained in this Secudly Instrument, or there ir a legul proceedin�thut may sigmficandy affect Lender's rights in the a,, _
<br /> - , � ^v�e; ,. Propeny(such ns u praceeding in bunkruptcy,probate,for condemnation or fodeitune or to enforce laws or re�ulations),then iCz�:_�
<br /> - • ,-.:�.;� nn• .• l.ender muy do and pay for whatever is necessury to prorect the valuc of thc Praperty and Lender'.s rights in ihe PropeAy �.�;.,;,,
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<br /> � a . �;� . . Lender's actions may include paying uny suma secured by u licn which hu�prioriry over this Securiry Instrument,appeudng �;,�-
<br /> �� - ^ ' - ����- in Court,paying reasonuble attomeys'fees and entering on the Property to muke repairs. AUhough Lender may take action �_Y`_
<br /> �;;, . '..�,:N .^• . :�r.u�M.y�� under thix paragreph 7,I.ender does not huve to du so. �
<br /> �, ' � •�+ts�:. :•;•,,,:a,.:.;. Any umauntx disbursed by Lender under this parugmph 7 shall become additiannl debt of Borrower secured by this _
<br /> � :"',,..,,,;,,. . Security Instrument. Unless Borrower und Lender ugree tu other term+of puymen�,these umounts shall bear interest from the _.___
<br /> � � Y�• " dnte of disbursement at the Note rute und shull Ne puyuble, with interesl, upon notice from Lender to Borrower reyuesting
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<br /> a,.. �+�.. payment.
<br /> �; � s•�k�ir �+,� 8. MoMgage Insurance. If Lender required mortguge insurnncc us u condition of muking the loan secured by this �,
<br /> � ... . � Security instrument, Borrower shull puy Ihc prcmiums reyuired to maimain�hc mortgnge insurc►ncc in effect. if,for any w
<br /> , ��.t _ , reason, the mortgoge insurunce coverc�ge required by I.ender lupses or ceatics to be in effcct. Borrower shall pay the Y
<br /> premiums reyuired to obtain cover•rge substantiully eyuivulem to the mortguge insurunce previously in effect, at a cost
<br /> ' �.'". � substantially equivalent to tha wst to Borrower af the mortguge insurunce previously in effect,from un alternute mortgage 6_
<br /> � �� insurer upproved by Lcnder. If sub�etrntiully cyuivulent mortguge in�urun�c cuveruge is not Avuiluble.Borrower shnll pny to �,_�_
<br /> _��� .'�"�• ' Lender each month u sum eyuul to one-twel8h of thc yeurly mortgage insurunce premium being p•rid by Borrower when�he ��;
<br /> ' :,�,� • •• insurance wveroge lapsed or ceased to be in effect. Lender will uccept,use nnJ retuin these paymenls us n losti reserve in lieu _
<br /> of mortgage insurunce. Loss reservc puyments muy no longcr tx:reyuired,at the up�ion of Lender,if mortgage insurance �_..
<br /> `� b�'r�• , coveruge(in the amount and for the perind ihat Lender rcyuire.l provided by un inwnr uppruved by Lender uguin becomes -
<br /> °�', � �� ti •r �hc remiums re uired to muimain monguFe intiu�uncr in effect,or to provide u _
<br /> uvnilahle und is obtuined.Borrowcr.hull p y p 4 �,;,
<br /> �� ' - loss reserve,until the reyuirement for mongage in+urancc ends in acrordunce with uny wriuen agrrrmem between Borrower -
<br /> � , , � nnd Lcnder or npplicablc law,
<br /> • _� 9. Inspection. Lender or its ugent muy mukc rcu+onable rntrics u{xm anJ in.pection,of Ihe Propeny. Lender rhull
<br /> :��� ��. give Bonower noticc at thc time of or prior�o un in�:�xrti�m+�xcit'yin�rca�onaMc cau.e ti�r�he inspection,
<br /> 10. Condemnalion. Thc pracccdx��f any uwurJ or claim titt dama�.c+.Jirort ur cun+cyuentiul,in connrction with uny �
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