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<br /> 3.Hau�rd or PrapertY la9urance. Borrower shuU kcep thc improvements now txisting or hercaftcr erecccd on the Propercy . ,-
<br /> � � insured against loss by fue, hazacds lncluded within dm term `exrended coverage" and any other hazards, including floods ar � =��+F*=�''
<br /> Dood�ng. tor which I.ender requires inaurance.This insurnnce shall be maintuined in the umounts and for the periads thut Ixnder i � `-;° .tl;
<br /> requires. The lnsura�ce carrler providing the insurance shall be chosen by Bonower subject to L.ender's approval which shall not 0 �_--`-
<br /> - ' be unrenaonubly withheld. lf Borrower fails to maintain wver�ge described above, I.ender may, at Lender's option, obtain � � _
<br /> °� coverage to protect Lender's righta in the Property in accordance with parabrcaph 7.
<br /> All insurance policies and renewels shall be acceptable to Lender and shall inciude a standard mortgage clause. L.ender shall C�
<br /> have ihe rig!►t to hold the policies ��em of lossf Borrower sheU giveoprompt notice to the insuVrance carr er and 1-ende�r. Lender � -, _
<br /> premiums at►d renewal notices. In the � ��`
<br /> may make proaf of loss if not made prompdy by Bonower. _
<br /> Unless I.ender and Bonower otherwise agree in writing, Lnsurance proceeds shall be applied to restaradon or repair of the
<br /> property damaged, If the restoradon or repair is economically feasible and Lender's security is not lessened. lf the restoration or _
<br /> 1 repair is not economically feasible or Lender's securlty wauld be lessened, the insurance praceeds shall be applied to tlie sums
<br /> secured by this Securiry Instrument, whether or not thea due,with any excess paid to Bonower. If Bonower abandons the
<br /> Property.or does not answer within 30 days a notice frorn Leader tGat the insurance carrier has offered t�o�e a� sumsisecured
<br /> Lender may collect the insurance proceads• Lender may uEC the proceeds w repair or restore tbe Pmperry P Y � -. ._
<br /> by this Securlty Insuumene+whe�her or not then due.The 30-day period wlll begin when the noace is gven.
<br /> Unless Lender aad Borrower otherwise agree in writing,any application of proceeds to principal stiall not extend or postpone
<br /> , the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amounc of the payments.If under paragraph _
<br /> � �F 21 the Property is acquired by L.ender. Borrower's right to any insurnnce policies and proceeds resulting from damage to the �
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<br /> Properry prior to the acquuition shall pass w Lender to the exteat of the sums secured by this Securiry Instrument immediately __
<br /> '�, prior to the acquisition. u
<br /> 6.Occupancy,Preservntion, Maintenance and Protectton of the Property; Borrower's Loan Applicatton;Leasehold9.
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<br /> � Borrower sball occupy, establish, and use the Property as Borrower's principal restdence withia sixry days after the execudon of _
<br /> '� Wis Securtty Insmunent and shell continue to occupy the Properry as Barrower's principal residence for at least one yeaz after the _
<br /> ' date of occupancy, unless Leader othenvise agrees in writing, which consent shall not be unreasonably withheld, or unless `
<br /> .� - extenuaung circumscances eniyt�rY.fch are lscyond Borro���er's coAtiQl.BQicnwei 91Ls!11 n�t dectroy, damage or impair the Property.
<br /> ' allow the Properry co deteriorate. or commit waste on the Property. Bono�ver shall be in default if any fodeiture action or _ _,
<br /> proceeding, whether civil or criaiinal, i3 begun that in Lender'�good faith judgment could result in farfeiture of the Property or
<br /> othenvise matedally impair the lien created by this Securiry In+uument or Lender's security incerest. Bonower may cure such a
<br /> default aud retastate, as provide3 in paragraph 18, by causing the actioa or proceeding to be dbmissed wtth a ruling that, in .-�
<br /> Lender's good faith determinsdoa,precludes forfeiture of the Borrower's lnterest in the Propercy or other material impairment of
<br /> ,� the lien created by this Securiry Instrument or Lender's security interest.Bonower shnll also be in default if Honower,duriag the �
<br /> �;. loan application prceess,gave roaterielly false or inaccurate informadon or statements to L.ender(or faUed to provide L.ender with
<br /> • - ; : any materfal information) in wnnection with the loan evidenced by the Note, including, but aot limited to, representadons
<br /> '' conceriilng Bonower's occupancy of the Property as a principal re.sidence.If tlils Securiry Insuurmnt is on a leasehold,Borrower —
<br /> shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property,the leasehotd and the fee dde shall _
<br /> ' ' not merge unless Lender agrees co thc merger in writing.
<br /> 7. Protectiom of Lender's Rights tn the Property. If Bonower fails tu perform the covenants and agreements contalned in _
<br /> . this gecurity Instnuaent, or there is a legal proceeding that may sigiificantly affect Lender's rights in the Propercy (such as a �
<br />- '; proceeding in bankruptcy,probate.for condemnatlon or forfeitwe or to enfor�e laws or regulaaons), then Leader may do and pay
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<br /> for whatever is necessary to protect the value of the Property aad I.ender's rights in the Property. Lender's actions may include _:.:�
<br />- � paying any sums secured by a lien which has priodry over this Security Instrument, appearing in court, payins reasonable _ -_
<br />- , attomeys' fees and entertng on the Praperty to make repairs.Althougtt Lender may take acdon under this paragtaph 7, I.ender _-_ _
<br />= dces not have to do so. -�__
<br />- �' Any amounts disbursed by I.ender under this paragraph 7 shall become additional debt of Bottower secured by this Security ---
<br /> Insmiment. Unless Borrower and Lender agree to other ternu of payment, these amounts shall bear interest from the date of ...T._;.�r�
<br /> dislwrsement at the Note rate a�id shall be payable,with interest,upon notice from Lender to Borrower requcsting payment. -.-��,
<br /> 8.Moctgage Insurance. If Lender required mongage insurance as a condition of making the loan secured by this Securiry "�'�,y�::,�•,.
<br /> Instrument, Borrower shall pay the premiwns required to maintain the mortgage insurance in effect. If, for any reason, the : ,
<br /> mongage insurance coverage required by L,ender lapses or ceases to be in effect.Bortower shall pay the premiums required to __-
<br /> obtatn coverage substantially equivalent to the mongage insureace previously in effect, at a cost substantially equivalent to the
<br /> cost to Borrower of the mongage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> substancially equivalent mortgage insurance coveragP is not available, Borrower shall pay to Lender each month a sum equal to „
<br /> one•twelfth of the yearly mongage insurance premium being paid by Borrower when the insurance c:overage lapsed or ceased to
<br /> be in effect. Lender wiil accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
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