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<br /> 5.H�ar Property Ins�ce. Borrower sha�l tceep the improvemenu now cAisang or hereafter er�ected on the Propeny . . �`,'::
<br /> insaued againsc loss by fire, hnzards includad withi��the term "eatc�ded covxtagc" and any ailier hardrds. inctuding tloods or � .°�.��
<br /> Ronding.for vsrhich Lerider requires i�sutance.'Il�is insurance shall be maintained in the amounu and for the periods that L.ender : . � :a�-
<br /> requires.'ifie inswance carrier providing 1he insaras�ce shall b�chosea by Bolrower subject to Lender's approval which shall not �
<br /> be unreasonabay witfchefd. If Borrower faits to mainsain covetage described above. l.ender may,at T.er►der's option. obtau► ' :�.F
<br /> wverage tA protect Leeder's rights in the Property in ar.cordartce wiUh paragiaph 7. . . : - . . - -: -''�__-
<br /> /Ui insu�arece policies and renewaLs shall be aoceptable w LeaQer and shaU i�clude a�ndard mortgage clause. La►d�cr shall � -
<br /> bave the right ta hold Ihe policies and rene�wals.If L,emder mquires.Borrower shalt p:ompilY give to Lender all receipts of paid :
<br /> Qremiwns and=euewal cutic�.s.Ia the event of toss,Bomower sdall gve prompt noti�e to the insuTance carrier and Leadea.L.euder , .. , . ..f:
<br /> may maYe proof oE toss if aoi a�de P='o�P�Y bY�wer. : , . . ` �
<br /> Unl�Lender a�d Boirower otfl�era+ise agree in writing, iasurance proceeds shali be applied to restaration or repair af the .
<br /> PropettY dama8ed,if the restnsation ar repair is economically feasible and Lender�s secduity is rtoi lessened. If the restnrarion or .'. . =�:,�`��`�,_.
<br /> ' repau is not e�onamisxilY fea�ble or Leuder's s�iey would be tessened.the insurance pmceeds sdall De applied to the sums , .. ? • . 1�—
<br />� secured by thi�Se�wit}+ In�trument. whethet or not then due,arith azay excess Paid m Boirower. If Bonowa abandons the •.y', _:`_
<br /> Propaty.or does uot answei within 30 days a uorice fram Lendra d�at the insurance carrier has off�d tn seule a claim.then . �.-=w�_
<br /> I I.endes may coIlect the a�surance pra�ceeGs.Lender may use the proceeds to repair or re�wre the Propeaty or to pay sucr�s secured :< �.:... �•�
<br />� hy this Security laswment,wheth�oa not then due.The 30-day period wiU begin whae t�e notice is giveu. , V,�`' �°•, --
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<br />; Untess I.ea�u and Bomower otheawise agree in writing,any appli�arion of pioceeds to principal s6all not exteud or posqwne a:,,�,,-=_ _-
<br /> the due date of the inanttilY payments refe�red to in para�raDhs 1 ahd 2 ar c�tange the amount of the payment5.If under paraBnPh ; -�'='-
<br />� 21 the Fmpesty is acquired by Lendea.Burcowea's right to any iruurance policies aad p�oceeds resvlting from damage ta the ., .... . � '•�` _.,,�_
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<br />- �P�Y Pnor to the acquisi�on shall pasc to Lender ro the exteat of tbe sums securcd by this Security Ins�uument iuunediately . �°'".s., .�.y-�.,�.,,
<br />� prituwU►eacquis�tion. , �; -:�.� :
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<br />:1 6.OccaPancy.Peea2rvatian�IWatnteaance and Protection of We Pr�ape�ty: Bosrower's Loan Applttatton;l.easeho{ds. . � �,,�,;
<br /> ' Boaower shall oxupy,esta6lish,aad use the Prope�ty a4 Boxrowea's prinapal resdeace within sixty days after the execulion of , �� i
<br />� this Saxirity In��ursne,nt and shall contame to occupy the Prapet�y as Bamnwer's grincipat residra�ce far v least one year aft�r the . -- ' ��:::
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<br />� date of oaug�cy, unless Leada otheawise agrees m writing.whic6 conseAt shall not be unreasonabty withheld,or unless .. ��,
<br /> extenuating c�umstai►ces e�cist whicd�are beyond Horrower's contrnL Barrower shall uot desoroy,dama8e or impair the Property, : .`:. �__
<br /> �'J"�li' � � •
<br />� allow the Pra� tn deterioi�ue,or commit waste on the Ptoperty. BaQrow�stisll be 'sn defautt if any �orfeiUqre action or . .�,. '_;: � ;.,
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<br /> P�S,�v3*�tt�r civil or crimin�l.is be�m that in Leudei's good faiW judgmeat cauld result in forfeimre of the ProPeriY or :�-�,;,',3?�.''�
<br />.; otherwise mar�by zmpair the lie�cr�eci i�u this Securiry Iasuu�tent oT Lender's se�u:ity inte,r�t.Bonower enay cure su c d a • . � ,�::
<br />' defauls and c�urst��,as piovided i�ptir�t� 18.by causing the actinn or proceeding w be dismissed with a ruling that,in � _ .�
<br />� �forfeitura of the Boaower's intr�est in the Prapeaty or other mateaial impaument of ;.:: .�' �' ��`� � � � _-
<br /> Y arre� '''�.
<br /> Leader's good faith dete�mi�r�+,I:sYecir _ ,t.
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<br />:� the liea created by this SeQa�yv Ins�umeut ar E.endes's security intr�est Boaower shall also be in default if Borrower.duriag the . �:•, e}°� '_ `'
<br /> loan aFPlsa�an P�ocess.gave mat�ally fal�car in�ate infomiation ar statements to Lender(or faited tn gmvide Lendea wit6 -�
<br /> 1 aay maierial u�famiarion) in connection with the loan evideuce� by the Note. ins2ading, but not lunited w, represeauations �'� �`• -
<br /> of the Pro as a rm al residence.If this Seanrity Instrument is on a leasehold,Bo�wer f
<br />; cance�ning Banower's occupancY P�Y P aP f..'-
<br />� � sdall comply witb all ihe pmviQOns of the lease.If Borroner acq�ires fee title to the Propexty,the leasehold and the fee tide shFill
<br /> ' not merge unlessl.e�der age�to the merges in writi�ng. . �. i ' ,`�" • .- -
<br /> i 7.Protec�r�at Leader's R,ighta m the Property. 1f Boirowes fails w perfonn the covenants and agreements contained in � J---��x
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<br /> ihis Saanriry Y�a:'�eut,or there is a lega]Praceed�n8 tLat may signifrcanfly affect I.ender's rights in th�Propeny(such as a --y--..�.�'"�= - • - —
<br /> at —�
<br /> � ' F�8��D�Y,3�a�•fo7 condeannation or forfeiwre or w enfo�e laws ar regWations),dzcai Lendea may do snd pay :,_, i=
<br /> ' fas�tatever is aecessarY ta��the value of the Proge�ty and Lender's rights in tf�e Property.Lender's actiaus rnay inclnde . : "��'�:`,a,_�
<br /> - Pa�"�any sums secuted � s uen which has priority over this Soauity Inswms�aDPearing in wurt.yaY�reasonabte .:� -�',`�"'�'='_� -
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<br /> • atmmeys'fees aud entering on the Property w make repairs.A(thaugh Lw►dea may take action nnder this para�aph 7.Lender :�! --
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<br /> � does not dave b fr,�so. . _
<br /> Any amo�a disbarsed by Leaidea under this paragraph 7 shall bec�me addidonal debi of Barmwer sepued by this Sec�uity =���.,.`4
<br /> � I a s w m�t U�l e s s B o r r o w e r a n d I.e�d e r a g r e e w o i h e r tenns of p a y u a e n t,these a�ounts shall bear ir►teresc f�rx+the date of �. =��,�.:��`.-_:
<br /> � disbursemr�t ai the Note rate�d shall be payable.with intrrest,upon notice from Lcn�to Borrower requestin8 F��+� ��s�:�,�,�..,-
<br /> � 8.Mortg-..�G�sureace. If Lender mquired n►art8a8e insorance as�s condition as naking the loan secured by this Security : = �.
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<br /> � � Instrumea�t,Ber�e�sr shall lsay the preminms rcquaed w maintain thn r- �:.s�ance in et��t. If, for any reason,the � • �
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<br /> mortgage ias�x coveaage reqnir�ed by L.�der lapses or ceases w hs��'feA..Da,Troa+er shatl p�a�,F the premiums required t¢ � ,; ,.. . �.
<br /> obtain cover�ge substantialty ac,,..ivalca►t w the mortgage insurance prtviausly ui ef��at a cost substantially equivalent to the '`r`�-'�;�.7,. :. ,:.�-----
<br /> � aust to Bamawa of th� mc.�.ge �surance previously in effect,from an alter�:� �ortgage insurer appzoved by I.endea.If ':.°._,;;:. •'°r...:.•s� :`, •.,�_�.�_
<br /> �' su�stantially equiva2ent martgage insurance coverage is not avaitable,Borrow�shz:. ➢ay tm Leaidea each month a swn equal t� o:;`.:' �. .�:��;;�'.•• ���. ,:. �-::.
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<br /> on�twelfth of t�e yeady mortgage�insurance premium being paid b7���ower when the insivancc coverage lapsed or ceased ta f.-' . • ' '��t;��:••u •� •�
<br /> be in effect. ve�:de�r will aceePt,use and retain these payments as a ➢L�s resen+e in liea of mortgage insurance. Loss reser�•s �. � �''�: ' � ,�
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