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<br /> • • S.HAZard or Property Insuronce. Boreowcr sbnll kecp tha imp7ovemcnts now cxisting or herestftcr crcctcd on thc Property T
<br /> insured ngainst loss by C�re,ha�rds included �ithin 1he term "extended covees�c" nnd nny othen c�uards, including floods or R,
<br /> flooding,for which Lcnder rcquires lnsurancc.'Ihis insurance shall be maintatned in thc nmounts ond for th�periods that Lcndcr .
<br /> . requires,'It�e insunuice carricr pmviding the insuriu►ce shall be chosen by Hoaower subject to Lender's npprovnl which shall not ,
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<br /> be unreasanubly withheld. If �orrower falls lo maintaln covemge describeai aVx�ve, Lcndce rnay. at I..ender's opt�on, obu+ln
<br /> � covcrnge w proYect L.cnder's rights in the Property in eccordunca W�th PsuaB�Ph�.
<br /> � ' All insurancc policies and renewuLs shall be occsptable to Lender nnd shall Include a stendnrd mortgsge c�tuse.Lender shall
<br /> " havc tho r�ght to hold the policies and renewal.9. If Lender requires.Borrower shap prompUy givc to Len�ier all n.ccipts of paid ., •
<br /> premiums nnd renewal notices.In Ihe event of loss,Barrower shall give prompt nodce to tt►e ins�icance carrier and Lendea.Lender ;, .-
<br /> may make proof of loss if not madc prompdy by Borrower. ��� I���on or rcpair of the � ' � ; , � -
<br /> Unless L.cnder and Borrower otherwisc egree in wrioing. insurmce Proceetls sE�all bc app' .
<br /> .. property damaged,if the restoration or repair is economicaUy feasible and I.endr,r's securiry is not lessened.If the restorntion or • :;�,,�" •'� �s,-.
<br /> ��'.. .�
<br /> repair is not economically feasible or Lender's security would be lessened,the insurancu Proceeds shall be upplicd w the s�uns -•:,��.:�:�,4.�--•=�
<br /> secured by this Socurity Instrument,whether or not ther►due,with any excess paid to Boaower. If Bomnwer abandons the . '. +.�____
<br /> Propecty,or does not answer within 30 days e nodce ftom I.ender that the insurance carrier hav offered to settle a claim,then . ,;,_,:.._
<br /> sums securcd --
<br /> Lcnder may coIlect the insurance proceeds.L,eader may use the praceeds to icpair or restore the Properry or to pay �,;,;l;
<br /> by this Securiry Instrument,whsttte�s or n�t then due.Ihe 30-day peatod wi11 begin when the noticu is given. ��2s.-__ _
<br /> Unless L,ender nnd Barrower othe�rwlse agree in wricin8,anY aNPU�on of proceeds to prit►ctPa15ha11 not eatead or postpone Y,,
<br /> � the due date of the rtionthly paymcnts referred tn in paregraphs 1 end 2 or change the amount of the payments.If under paragreph , ,;�,��
<br /> �.�.�u�:.
<br /> , 21 the Ptogerty is acyuired by Lender, Borrower's right to any insurance policies and proceeds resulqng from damage to the . �r,�..
<br /> ' 4+ Property prior to the acquisition shall pass eo I.ender to the eatent of the siuns secured by this Securiry L►strument immediately ,;;i�,."—
<br /> ' ! prior to the acquisidon. �'��t ,
<br /> . 6.Oocupaney�P�+eserv�tioa,Mointenanoe�nd Frc:!+ctioo o!t6e Property; Borrower's Loan Applicatlon;Leaseholds.
<br /> IIorrower shall occupy,estabLish,and use @ie Property es Horroc�er's p��nci�al nsidence with�n sixty days after�he execudon of `"!`��°
<br /> ; ' = this Security Instruinent and shall continnue to occupy the Properry uv Bor.rower's principal msldence for nt least one year efter the }
<br /> datc of occupancy. unless Le;ader otherwfse agrees in wdling, which consene shall na:be unms�sonl�iy withheld, or unless �,,
<br /> ° eatenuating circumstance§exist which are beyond Borrower's control.Borrower shall not d;saay,c�amaga or impair the Property, � ?4;�
<br />- . ______ ��, �pr_mPny en �+a*Prt�►�tP or commit waste on ihe Prcperty. aorrower shall be in defa�ile i�any forfeiwre action or �� ", _
<br /> .z praceetling.whethea civil or criminal.is begun thtu in Lender's good faith judgment coWd resuit in forteia.-e of ihe F�uyc�►y o; 7, '`�
<br /> �� othuwise maurially impair the flen created by this Security Instrument or I.ender's securiry intrres�Boxaowcr may curo such a -
<br /> default and ceinstate. as provided in paragraph 16,by causing die action or proceedin8 to be dismissed with a ruW�g that,in :;� ,•�`�
<br /> �1 Leader's good faith dete�rnination,Precludes forfeiture of the Borrower's inLeces�t in the Property or other materi�l impaim'►eat of r
<br /> tlie Uen created by fhis Security b�suument or Lender's security interes»Horrov►'er shall also be in default if Bocrower.during the _
<br /> ►oan applicatkn process,gave materially faLss or inaccurate informapon or statements to L.ender(or failed to provi@e Lender with �
<br /> " any mataiN infoRr+adon) ln connacdon with the loan evidenced by the Note, includiag, but not limiud to. representations t�,
<br /> cortceming Borrower's occupancy of tbe Property As a principal residence.If this Socuriry lnstrumeni is on a leasehold,Borrower
<br /> � shall comply with all the provisIons of the Iease.If Bomnwer acquires fee dde w the Propeacy.ths teasehold and the fce dilo shall = ;
<br /> not mcrge unkss Lender agcees W the mugu in writing. _.�.—.�
<br />` ,- 7.Protectbn ot I.ender's Ittghta in We Property. If Bocrower feils to perform[.he r.ovenents and agreements contained in �'•k�'"
<br />- ' - 'T-f;I: this Sec�rity Instmmeat, a them is a legal proceedin8 that maY s�Si►if'�cantly effect Lender's rights in ¢he Propeaty (such as a
<br /> i:;r�*,.` ~ ."� p��ing in ban{QUpt�y�probate,for condemnation or forfeiwre a to enforce laws or regulations).then Lender may do and pay -�
<br /> ' for whateva i.s necessacg� a protect the valuo of the Prope�ty and I.endex's righG in the PropertY•L,end�er's ections may include
<br /> �"� ,;'��':`•. {� P8Y�8 any sums socured by a llen which bas prlority ovu this Security Instcumcaat, 2$nearin8 i n c a u r t.P a Y N B a�a s o n a b l a _
<br />'��_' , ". � atwmeys' fees and enuring on the Property to make repairs.Although Lerider mey take acdon under this pacagrapta 7.I.ender -
<br />_- . . ,x does not havc to do so. �------------
<br />_ ° .. , p�y e�nounis caisbursod by I.ender ander this paragraph 7 shall become addidonal debt of Bocrowu socured by this Security
<br /> - _ .' Instiumu►� Unless Bwmwcr suid I.endcr agroe w other te�ns of payment, thesas amaunts shall bear interest from thc date of
<br />.f�:,,":�::;':, �,' dislxuseme�►t at the Note rate and shall be payable.witt�intcrest�upon noticc fram Lendcr to Borrower requestin8 PaYment _
<br />_1,�.;!��„•: ' �.'Mortgageansurana. If�nder requind mortgage insurance ag a condirion of msdcing th�lnan secured by this Secmity �_ ----------
<br />-�.t-,'`��� ` Insinunenl� Borrowu shall pay the premiu� acquirad w muintain the mortga�qe insurance in effeca. If, for any mason. the = _ —__
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<br />�-e mortgage insucanc�coveiage req�ired by I.ender lupses or ccases to be in effect,Borcower shall pay t7�s premiums mqnired sn -_—�--�—°':,,.,.,�
<br />- � obtsin covcrage substantaally cqvivalcnt to the mortgage in.gwance prevbusly in effect,et a cost substantiaUy equivalcnt to thc �
<br /> - coss to Borcower of the m�age insurance pneviously in effeet, &om an altemate moctgage insuret apprnved by Lender. If ��!__�'_`
<br /> ��":�'' � substantially oquivalent mortg�e'snswr�nce caverage is not availablc.Sorrowcr shalf paY u�Lender each month a s�r�equal to `�:,`�°'�.� °".-
<br /> ' s one-twelfth of the yearly mortgage inswrance pc�emium being pa[d by Borrower when the insurance covera8a laPsed or ceased to �
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<br /> be in effoc�LenQer wUl accept,use and rewin these payments as u loss reserve in lien of mortgage insurance. Loss reservc :�,^���....
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