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<br /> ' S,Har�rd or Property Inquraace. Aorrowcr shall kcep the improvcments now cxisdn�on c�rexftcr erected on tha Praperty _ L`
<br /> insurcil against Inss by firc,htv.nrds includcd within thc tcrm "oxtcnded covcrngc" nnd uny othcr ha•r.ards. including &loods or -
<br /> flooding,for which Lcnder rcquires insurance.This insurence shaU bc mointained in the Eunaunts und for ihc periods that Lendcr (
<br /> rcquiras.'Ilic insururtr,c surricr providing thc insurance shnll bc chosen by 8orrowcr subjcct to Lcndcr's approval which shall not �
<br /> bc unreasonably withhcld. !f Bormwer i'ails to main�ni� wvefage de,ciibed al�OVC, I.�ndcr may, at T.cndcr s opuo�, obtat�►
<br /> covcragc w protect L.end�r's rights in�he Property In accordance with paragraph 7. �� •'
<br /> All insurs�nee�llcte� and renew�ls shnll be ecceptabla to L.ender tuttl shall include a stendard murtgage clause.Lender shall
<br /> � hsvc the dght w hold lhc policies and renewals.If Lcndcr requires,Bonower shall prompdy givc to I,�nder�Il receiptg of p�id
<br /> � prcmiums tind renewal notices.In thc event of loss,�3orrower shall givc prompt noace to the insurance carricr and Lendes.Lender �
<br /> may mako proof oF loss if not made prompdy by Borrowcr.
<br /> Unlcss Lcndcr and Borrower othcrwise agroc in writing,insurence proceeds shaU 6c applicrl to restor:itian or repaic of the �
<br /> Property damsgcd, if thc restoradun or repair is economically feasible and Lender's security is not lessened. It the restoradon or -
<br /> repair is not economically fes�sible or Lender's securiry would be lessened,the insurance proceeds shall be applied to the sums '„
<br /> ' secured b this Securi Instrument, whether or not then due, with an eacess aid to Borrower.If Borrower abandons the °- '�'��'""
<br /> . Y �Y Y P .���:•..—,..=_;.
<br /> ' Propert�.or dces not answer within 30 days a notice from Lender that the insuranca c.�rrier has offered to settte a claim,tlien .-_:
<br /> Lendei may collect tha insurnnee proceeds.I-ender may use the proceeds to repair or restore the Property or to pay sums securecl ,:�u_-.- ._.�•..
<br /> .� � by this Security Instrument,whether or not thrn due.The 30-day periad will begin when the notice is given. --
<br /> � Unlr,ss Lender and Barrower otherwists agree in writing,any applicatlon af proceeds to principal shall no2 extend or postpone � _�---__
<br /> tlie duc date o4'the monthl a mcnts refeired to in hs 1 end 2 or chan e the amount of the ments.If under aragra�ph °°_��=�
<br /> ' � Y P Y P�S�P 8 PaY P ��
<br /> 21 the Propeaty is acquired by Lender,Borrower's right w any insurance pol�ctes and proceeds res�rlting irom damage to tha
<br /> � Propeny prior w the acquisidon shnU pass to Lender w the extent of the s�uns secured by this Security Instrument immediately . . r'aie��•
<br /> prior to the acquisi�ion.
<br /> � � 6.Occupaacy,Praservatfon,Maintena�ce and Protection oP the Property; BorroAer's Lorm Applicatlon;I.easedoWs. �+
<br /> - Bocrower shall occu ,establish,and us�ihe Property as Borrower's principal residence within s'vc�y days after the execudon of •�'':�--
<br /> PY
<br /> � �, this Securiry I�strument and shaU continue to occupy the Property as Bo�rower's principal residenca for at least one year aftu the :� Y `�'"'
<br /> - date of occupancy. unless Lender otherwise sgrees in writing, which consent shall not be unreasonably withheW, or uNess
<br /> .�, extenuadng circumstances eaist which are beyund Borrower's control.Borrower shall not destroy,damage or impsir ihe Propeciy. -
<br /> allow the Pcoperty to deteriorate. or wmmit waste on the Property. Borrower shall ba in default if any forfeiWre action or ; t
<br /> ------— procecding,whcthcr civil or criminal,is begun thet in Lenaer's gooa iaim judgment coufn m.suit i�a iorieipu+e oI aie F�opaiy or =-
<br /> ^ otheiwise rteaterlally impair the lien created by thls 5ecurity Instrument or I.eader's securiry interzst.So�rowa mRy cura such a �'
<br /> ; default and reinstate,es pmvided in pa�agraph 18. by causing the action or proceecl��g w be dismissed wilh a culing that,in •.
<br /> - Lender's good taith dete�minadon.precludes forfeiture of the Bonower's interest in�the Properiy or other m.3tcrlal imp�i�e,nt of �;
<br /> the llcn cmated by tlils Security Insm�meat or Lender's security interest Borrower shall also be in default if Hortower,during the '�
<br /> loan application process,gave materially fals$or inaccuiate information or sqtements to Lendcr(or failed to provide Lender weth �.i�'�
<br /> • a�ry maurial information) in connocdon witl� the loaa evidenced by t4+e Note, including, but not limited w, repres�ntations `` "�
<br /> � conceming Borrower's occnpancy oF the Pco�ty us a princywl msidence.If this Sxurity Instnunent is on a leagehald,Bon+nwa F '��-
<br /> shall comply wi�h ail the provisions of the leaso.If B�rower acquires fce dde w the I'ropeity.the lea.�ehold and the fee dtle shall
<br /> • ' ' not merge unless Lender agrees w the merger in writing. '
<br />_ 7.Pmtection ot Lendu's�tighffi in t6e Property. If Horrower feils to perfomi the covenants and agrc:ements contained in ��-
<br />- this Security Instrument, or there is a legtil praceeding that may significantIy affect Lendu's rig)hts in the Prolx,�ty(such ag a �a'�'"-^
<br /> : � • pmceeding in bankruptcy,probat�e.for condemiwdon or forfeiwre or w enforce laws or regularions).then Lend�may do and pay a=
<br /> ? �• for whatever is necessary w pmtact ihe value of the Prope�ty and Leitder's rights in titie Property.Lendet's acuons may include ��°°
<br />= paying any sums secum,ci by a licn which has priority aver this Sacurity Instnunent, appearin8 in wurt,pa�ing r�c�soneble
<br />� ' attomoys'fees and entering on the Pcoperty w make repairs. Aithough Lender may Iake acaon ander Ihis [�aph 7.I,endea
<br /> does not have w do so.
<br />-;;,;`.., Any amounts disbursed by Lender under this paragraph 7 shail become addi6onal debt of Borrower aocutt4 by Ihis Security = - -
<br /> j�.:•�;�' ' Instrumu►t. Unless Bocrower nnd I.cnder ogree w other tem►s of paymr,nt,thesc amounts shull bear inux�est from Ihe datc of _
<br /> '�,.:, .•:.. disbursemcnt at the Note cate an�shnll be payable,with interest,upon norice from L.ender to Borroa+ei requestin8 P$Y�� -ti•
<br /> _ ' r• 8.Mortgage Iaaurana. If G:nder rec�uired mortgage insurance as a condiuon of maicing the loan secund by lhis Security ��:�,�,.o.��...;.�_�.�
<br />_ "�,.:
<br /> •, Inslxuinent, BoROwer shall pay tl•o premi�rris required to maintain the martgage insurancc in effoct If. fa any reason. tfic �A�.=
<br />: � �, ��..a.t-�.--_._---
<br /> ' mortgage insuraQ►ce coverage cequired by[.ender lapses or ceases tc�be in effect,Borrower shall puy the premiums required w °��,�,�,.::
<br /> � ; obtain coverage substtu�tially equivalent to the mortgage insurance p�vio�sly in effect,at a eost substantially equivele�it to the �
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<br /> . . cost to Bomower of the mortgago insurance previously in effect, from an altemate mortgage ins�eppmved 6y LenAer.If �°��v���;,; _''_: "
<br /> • ' � ' substantia(ly equivalent mortgage insuranca coverage is not available,Borrower shall pay to L.ender each month a sum eqa:il to �','�� 'F=�=��`•�• �
<br />_ �' one�twelfth of the yearly martgage insurance pm,mium beieig puid by Boirower when ehe insutance coverage�or crased tn '%.�;--��'�t�`�
<br /> �. a5�%^"."
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<br /> be in effc�ct, Lender will aa:ept, use and retain these payments as a loss resi;rve in lieu of martgnge insucancc.Loss msesve ; � ^���`°.•',;�•..
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