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<br /> { S. Hna:nril or Froperty Insurr�nce. B��rrower shall keep tt�e intpraveai�n�K nuw� �xiscing or hereatier erected c�n the r
<br /> � F'roperty imutcd xgnl�nt lu;� by fire, h�u►rds included within �lie tem� "rxtrnded cewerage"s�t� u�ry othr.r Intzards, including � ''
<br /> I tl��ods or flooding, far whf�h Ls:nder requfres incurance.Th3s insur,inec shall he mt►inuiinrd in tlie�unuunts anJ fc�r d�e periods � r
<br /> I that L.e;nder requirrs,The invun►nce cxrder pruviding d�e insurence shtdl be clu�sen by Borrowee+ubj:ct to Leuder's approvHl i
<br /> which s6n11 nut Ik unreasnn.;hly withheld. If �orrower fails ta mainuiin coven�ge dess:riheJ ubave, L.ender may, at Lxnder's
<br /> • uptiun, ubu►in cuverage tu p�utect Ixnder's righG+in the Pro�x;ny iu a�curdau�e wiAi paragrapl�7. -_
<br /> All in5unu�ce policles xnd renewxls shall he acceputble to Lender and .r•hxll include ii stxuderd mortgsge clause. Lender
<br /> shall have the riglu to liold tlte policies and renewals. If Lender reyuires, Bonower shall promptly give to I.ender xll receipts of
<br /> paid prenifums and renrwal nuticrs. In die event of loss,Borrower shall give prc�mpt nutice to thr intiurance carrier tuid L.ender. -
<br /> Ixnder may niake proof of loss lf not mxde promptly by Banawer. �
<br /> Unless Lender uud Borrower��thenvise agree in writing, ineuraace proceeds shs�ll be applie�ro restoration or repair of the ' •
<br /> Property dxtuaged, if die re�turaaou or repair is econonucally feasible and Lender's security is not lessened. If the restoration ar
<br /> repair is not economics►lly feasible or Lxnder's securlty would be lessened,the insurance proceeds shall be applied ro the sums :
<br /> secured by this Secudty Insuument, whether or not then dus,with any excess paid to Barrower. If Bonower abandons the •
<br /> Property,or daes not answer within 30 days a nodce from Lender that the insurance carrier hxs offered to settle a claim, then ,T���: '
<br /> Lender may collect die iasurance proa:eds. Lender may use the proceedti to repair or restore the Propeny or to pay sams
<br /> secured by this Security Instrument,whether or not then due.1'he 30�day pedad will begin wben the nouce is given. , �_ ��
<br /> Unless L.ender and Borrower othervvise agree in wrcdng,any applicaaon of proce.°,ds to principal shall not extend or •°'•��
<br /> '? postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If under `��`M
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<br /> , paragraph 21 the Property is acquired by I.ender, Dorrower's right to any insurance policies and proceeds resuldng from " f� ,� . ,.��;;�
<br /> '` i damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Insmiment i�`"�`�'
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<br /> immediately prior to the acquisition. • ' ` y
<br /> 6. Occupancy.Preservatton,Maintenance and Protecttunof the Property;Borrower's I.oan Appltcattoni I.easeholds. . '�� -�--,,,r
<br /> Borrower shall acupy, esu�blish, and use the Property as Borrower's principal residettce within sixry days after the execudon of , ��•
<br /> • this Security Instniment and shall continue to occupy the Propeay as Borrower's principal residence for at least one year after
<br /> � the date of occupancy, unless Lender otherwise agrees ia wridng, �vhich consent shall not be unreasonably withheld, or unless -
<br /> � extenuadvg circumstances eaist which are beyond Boaower's control. B�rmwer shall not destroy,damage or imgair the 7 .
<br /> Property, allow the Property to deteriorate, or wrpmit waste oa the Property. Bonower shall be in default if any forfeiture � '
<br /> acdon or proceeding,whether civll or criminal,is begun that ia L.endee's good faith judgment cauld result in forfeiture of the
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<br /> Property or oWecwise maurially impair the liea created by tnis�ecurity iaswment or Leacier`s security interest. Honower may - -, �. ::
<br /> �' j cure such a default and relastate,as provided in paragraph 18, by causing the acdon or proceeding to be dismi�sed with a ruling , �
<br /> � �chat, in Lender's good faith detemunadon, precludes forfeitum of the Bonower's interest in tLe Properry or other material
<br /> ; impairment of the lien created by this Security Instmment or Lender's security interest. Borrower s1�aU also be in default if ,�' �i
<br /> � Borrower, durin�the loan Application process,gave materially false or inaccurate informadon or statements to Lender(or failed ;"' ��
<br /> to provide I.ender with any rnaterlal informat?on)in connecaon with the loan evidenced by the Note, including,but not limited +�
<br /> to,representadons wncerning Borrower's occupancy of the Property as a principal residence.If tbis 3ecutity Insttument is on a � •
<br /> �+�„ leasehold, Borrower shall comply with all the provisions of the lease. If Boaower acqulres fee dtle to the Property, the f
<br /> �►' leasehold and the fee dde s6a11 not merge unless Lender agrees to the merger in writing.
<br /> 7.Protection of I.ender's Rights in the Property.If Borrower fails to perfoim We covenants and agreements contained in
<br /> � this Security Instrument.or there is a legal proceeding that may siymificantly affect Lender's ri�Lts in the Property (such as a t,��
<br /> prnceeding in bankcuptcy,pmbate,for candemnadon or forfeiture or ta enforce laws or regulations). then Lender may do and ''�W%''
<br /> pay for whatever is aecessary to protect the value of the Property and Lender's rights in the Property, Lender's acdons may �-�'!�"�_=
<br /> � include paying uny sums secured by a lien which has prioriry over this Security Instzument, appearing in court, payi¢�g �°'�'
<br /> � reasonable auorneys'fees an+d entering on the Property to waka repsdrs. Although Lender may take acpon under ttus paragraph .;�. -
<br /> • •� 7,Lender does not Have w do so. =--=
<br />_� �� Any amounts disbursed by Lender under this paregrdph 7 sLall becoine adclitio�ul debt of Borrower secured by this ��."_?��=_ _-__ _
<br /> Security Instrument.Unless Bonower and Lender agree to other tem�s of payment, these amounts shall bear interest&om the '"'-'"`�"`
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<br /> date of disbursement at t6e Note rate and shall be payable, with interest, upon notice from I.,ender to Bomower requesdng �'_"_�"=''-°
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<br /> � 8.Mortgage Insurance.If Lender required mortgage msurnnce as a condidon of maldng the loan secured by tlus Security _.�; ���
<br /> � • Insuument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect.If. for any reason, the �,'•� � � " �`"' �
<br /> �� mortgage insvrance coverage requimd by Lender lapses or ceases to be in effect,Bonower shall pay tLe premiums cequired to �^�ti:ti:. ��.
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<br />- � obtain coverage substantially equivaleat to the mortgage insuraace previously in effect, at a cost substantially equivalent to the ,.
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<br /> ` -� cost to Borrower of the mortgage insurance pmviously in effect. from an alternate mongage insurer approved by Leader. If .,:._ . �, :, .
<br /> � svbstantially equivalent mortgage insurauce coverage is not available,Bonawer shall pay to Lender each month a sum equal to . , , .
<br /> - one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the inssurance coverage lapsed or c�sed to , �
<br /> be in effect.Lender will accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss mserve � ,�
<br /> � . Form 3020 ! .. .
<br /> — �-8R(NEI�az��i.oi ns���ot e iNnan• .
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