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<br /> _ .��. . ; • 5.Ua�rrd or Property Ins�uanc� Boaower s}�atl keep ihe impmv�ts now ea�istmg or he�eafter ere�ted on the Property •t; .;- `�: ` ' _,
<br /> • � ms�ed agamst loss by fae.6azazds included aithin tho term"exteaded coveaage"aad any oth�har.uds,inc2uding flnuds or c� -��"
<br /> , � ? f�oodmg,far wbich Lender reqaaes msvranoe.'Ibis ins�uance s6all 6e maintained in the amounts aad for the perinds that Leuder •, .`
<br />_ requi�es.T6e�sar�mce cauier providing die insvzance shall be chasen by Borrower subject w Leadea's appmval wtrich shall not - . •
<br /> �` ' be anreasonably withhetd. If Bonower fa�7s to maintam coveiage descdhed above. Lender may, at Lender's opdon, obtain ' , •
<br /> ;.,--,,<`; covetage to protect I.euder's rights in the Propesty m acxardance with pa�agraph 7. . ` ' ,'
<br /> - � ,,,�-:;
<br /> " All msurdnce polisies and renewals shall be acceptable w Ix.�der and shatl include a standard mortgage clanse.I.ender sha11 `. .
<br /> � have We rig6t m hoId the polici�s and reaewals.ff Lender mq�s.Boirower shaD promptiy give to L.eader aII receipts of paid .. �
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<br /> - . ` Pramioms and renewal notices.In the event of Ioss.Bnnower shall give prompt notice w the ins�uaace caaier and Le�dei.I.eada . � � � ' ,z.
<br /> . may wake proof of Ioss if not made pmmpdy by Borrower. �' :.S�'�� :
<br /> . � . Unless Lender and Bormwea oth�wise agree� wrivng,ms�uance gmceeds shaU 6e applied to restosation or�pair af the : . � �.,.�`.;°:.�
<br />.. . �� ..�f�..t'°`T°• '.' "-m.a��:
<br /> ` ' Propeny damaged,if the rasw�ation or repair is ewnomicaIIy feas�b�e and I.end�'s security is not lessened.If the restosation ar �� � -Y �
<br /> . ..,� repa'a is not economica]Iy fea�te or Lendea's securiry wou2d be lessened.the insuianccs pmcceds shall 6e applied ro thc sum4 � , �. '.: �'"�"
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<br /> ' '. i secuned by this Sec�uity Inswmen�whether or noi then due,wiih any excess paid to Borrow�. If Bmmwcr abanduns the ". . - :�",�R;:.�
<br /> Praperty,or daes not answer arithin 30 days a notice trom L�der tLat the insw�ance cani�Qas off�ed tn settie a ctairn,then
<br /> ' , � Leader may colteci the insurance proceeds.Lender may use the praceeds to repair or restore the Property or w pay sumv secured . . `'F,,..
<br /> by tdis Security Insaumen�wkether or aot Wen due.'[he 30-day period will begin when the notice is givea. _ ,. —
<br /> ° Unless Lender and Borrower othe�rise agcee ia writin�,any appW�nifln of pzaceeds to priucipal shall not extead or postpone r..; `�f..��
<br /> � �he due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the paymenis.If uader paragcaph .� __
<br /> . 21 the Pcope�ty is acquued by I.enQa,Borrower's right m any insusance policies and procee.ds resultiag&om damage to the � . � `_�-�
<br /> . . �P�N Pnos tn the acquisition shall pass w I.endea to the extea�t of the swas secnred by this Sec�uity Ia�ument immcdiatcty -- � :. �--
<br /> . prior to the acquisition. . .,'i:�
<br /> . 6.OccuPancY,greserva8oa,Maintenance aQd Pratea�ion oY4tie ProPertY: Borrower's Loan AppQcatioa;Leasehoid�. • "1��
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<br /> Bomnwer s6all occaPY,establish,and use the Property as Bormwer's principal residence witlun sncty days after the a��ution of `�. .' `. ��� ;,�-`
<br /> this Sec�ity In�ent and s6all conimue w occa�py the Aropary ag Borrnwer's pnncipal resideace for at least one year afte�the �`,-� °
<br /> . , . date of accupancy, imless Leaider ot6erwise agrers in writing, wluch conseait shall not be anreasonably withheld.or unless , �. �,-
<br /> eateauaring citcumstances exist wIiich are beyond Borrowea's control.Borrower sUall not desnoy,damage ar unpa'v the Prageny, - � �-
<br /> P eny •.'`_,_..
<br /> � allow the Propeaty w deteaiorate, or wminit waste on the Property. Bonower shall be in defanIt if any farfeiuue action or ' . .;'';;,�_•.
<br /> . . . Proceedmg,whedter civ�7 ot criminal,is beguu that in Leada's good faith judgment cotild result in farfeittue of the Property or `,�."�°`"_':
<br /> otherwise mafriiaIly impa�ihe lien created by this Seaaity Tnstrament or Lendel's secasiry iaterest Borrowed may cuce sucb a _ '. . � ""�
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<br /> defaWt and remshat�.as provided in paragraph 18,by causing the acaon ar pmceeding w be dismissed with a niling tha6� , • °�•�..��,
<br /> � I.eaider's good faith detemiinarion,precludes forfeiwre of the Borrower's intaest in the Pmperty or other material impairment of ' •`;.:;�;:
<br /> • the lien created by tbis Sec�uity Instrument or I.ender's sccurity interest.Bonowea shall also be in defanit if Borcower,d�uing the • . . �.'��-� :
<br /> .� loan application process,gave materially faLse or inaccarnte�formation or statements w I.ender(or failed to provide I.eader witb , ;,��.•
<br /> any matraial informarion) in connecnon with the Ioan evidenced by the Note, mcluding, but noi lirnited to, represeatations �� ;
<br /> �� conceming Borrower's occupancy of the Property as a principal residence.If this Seciuity Insuument is on a Ieasehold,Boirower . . . .'. c'°�-
<br /> shall com 1 with all the •• ."` ..
<br /> p y provisions of the Iease.If Bormwer acquires fee 6tte to the Property,the leasehoid and the fee 6de shall -
<br /> ` _ not merge ur�ess Lender agrees to the mergea�wri6ng. ,. . �`���m`
<br /> _ 7.Protection of Lender's Righb in We Property. If Boaower faits to erform the cave�rants and - ... ',x�
<br /> p agreements contained in :�.
<br /> this Sea�iry �nsmunent,or there is a le�al proceeding that may signiticantty affect Lender's rights in the ProPeatY(snch as a � � . : .
<br /> - � �:...
<br /> proceeding�bffiilwptcy,probate,for condemnadon or forfeiwre ar to enforce laws or regulations),then Lender may do and pay �
<br /> . for whatevea is n�+to protect the value of the Propaty and I.cnder's rights in the Properry.Lerider's acrions may include ' � 1:"``"
<br /> ' • paying any sums se�ured by a lien which has priority over this Sec�rity Ins�ament, apPearing in cowt,payin$ reasonab2e -- . . � -
<br /> . . atwmeys' feca�.�w�uxsag on the Property w make repairs.Although Lender may talce action Under this paragagh 7,Lender � � � '
<br /> does not have to do so. � '
<br /> - . My amoants disbursed by Lender unde,r this parag,raph 7 shall become addidonal debt of Borrower sec�ued hy this Securiry � , . '�
<br /> ' Insuument UNesv Boaower and Lender agree to ather terms of paymen�.these amounts shall bear interest from the date of � � � •
<br /> , ' disbvrsement at the Note rate and shall be payable.with interrst,upon notice from Lender w Bonower requesting paymcnt � � �
<br /> � : . S.Mortgage Insurance. If Lender required mortgage insurance as a condiuon of making 1he toan secured by this Sequiry
<br /> .' ,. Insavment, Borrower shail pay the premi�uns required to maintain the mongage insurance in cifect. If, for any reason,the "
<br /> mongage ins�uance covcaago require�by Lender lapses or ceases w be in effecl,Borrower shall pay the premiums required w ' � '
<br /> :L; • obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent w the ... �
<br /> • cost w Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurca approved by I.ender. If � � .
<br /> • suhstantially equivalent mortgagc insurancc coverage is not availab2e,Borro�ver shall pay to L,ender cach month a sum eqnal to . •
<br /> , ' on�twelfth of the yearly mortgage insurance premium being paid by Borrower whcn the insurance coveragc lapsed or c,eased to '
<br /> be in effoct I.ender will accept,use and retain these payments as a loss resenre in lieu of mortgage insnranee.Loss reserve �
<br /> :�. � Form aa2e srso . � '
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