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<br /> ' S.I�amrd or l�e+o�t¢rty Insuranoe. Borrower shall keep the improvemeitts now eaiss;ng or�he�eafter erected o��P�raperty . • , . -
<br /> t .
<br /> ins�ued against loss by fire,ha•r�rds inr.luded wit6in the te�n► "extEnded coverage" and any oaher haTards,inclading tloods or ` - `��
<br /> . floodin ,for which I.ender r � . ` � `"#`
<br /> g equires insuratice.This insvrance shall be maintained in the amounts and for the periods that L.endar � -
<br /> . : requires.'Ihe insurance canier pmviding the insurance shall be chosen by Banower subject to Lender's approval which shall not , .
<br /> be unreasonably withheld. If Borrower fails to maintain ooverage described above. Lender may, at L.cnder's option, obtain � • `�
<br /> - coverage m pmtect Lender's rights in the Property in accardance with paragagh 7. �. • � , ; •
<br /> All ins�uance policies and renewals shall be acceprable to Lender and shall include a srandard mortgage clause.Lender shaIl � •
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<br /> imve m�e rigiie to aoid me poucies and renewais.u i.eader requires.Barmwer snau promPtIy give w i.eadcr a„cec-eipt,u��rmu .
<br /> ,. premiums and renewal notices.In the event of loss,Borrower shall give prompt notice ro the insurance cxrrier and Lender.Lend� � .
<br /> may maice praof of loss if nat made prompdy by B6rrower. � . • , �
<br /> Unless Lender and Bam�wea o�hera+ise agr�ae in writing,insuiance praceeds shall be applied co rescoration or regair of the � � �
<br /> : Property dama8ed,if the c+�swration or repair is economicaUy feasibte and I.end�'s security is not lessened.If the restnration or �. , � ,
<br /> repair is not economically feanble or Lea�der's security would be lessened,the insurance proceeds shall be applied tn the sams � , � • -� ,•
<br /> seQUed by d�is Security Inslrument, wheth2� or not thett due, a+iYG any excess paid to Borrower. If Bormwer abandons the f � , .
<br /> Propaty,or does not answer within 30 days a notice from Lender that the insurance ca�ier has offened to seule a claim.then • �� �' �
<br /> `. i.ender ma colloct the insnrance I.euder ma use the �. � � ' _.`�''"�?=
<br /> Y P� Y P��Lo repair or reswre the Property or to pay sums secured . : �:�: _
<br /> " by this Secmrity 1ns�ument,whetha or not thea►due.The 30-day period will begin when the notice is given. ' , _
<br /> .:;,. ._ �_
<br /> Untess Lend�and Borrower otharwise agee in writing,any application of pmceeds w principal shall not eatead or postpone • �
<br /> the due date of the mondilY payme�nts xefeared to�pazagraphs 1 and 2 or change the�nount of the payments.If undea paragrap5 � .. � �:•��
<br /> 21 the Piropeaty is arquired by Lender, Bormwer's rigbt to any insurance policies and proceeds resulting hom damage to ihe � . . , '•—
<br /> ...T
<br /> Piap�ty prior tn the acquisition shall pass w Lender to the extent of the sums secured by this Secnrity Instrument immediatcly . ' �. ��� �=-
<br /> � prior to die acnaisition. : . ' . . _�'=
<br /> `�1 6.�ocupaacy,Preservation,Maintenance and Proter�ton o!the['roperty; Borro�ver's Loan Application.Lease�a4ds. � .,:-:,;,�`:,�
<br /> � Bo�rower shall occapy,establish,and use tha Praperty as�ormwer's grincipal residence within sixty days afteir the execution of • • `t' —
<br /> thi4 Security L�sunmeat aad shall conrinue ro aocupy the Propaty as Borrower's principal residence for ai least one year aftea the y �
<br /> � t L , {-:,�3[.,il', _
<br /> dafc of occupancy, uniess I.endea otherwi.se agre�s in writiag, which consent shall not be �uueasonably withheld, or unless : '
<br /> t
<br /> exteauatin cucmnsrauces exist which are ond Bornnw�'s conuol Borrower shall not destro , ' =� �'�`•
<br /> 8 �Y Y damage or impair the Property, . Y,� .i • .
<br /> allow the Property to deteaiotate,or commit waste an the Property. Borrowea shall be ui default if any forfeiuue action or , - � � , �
<br /> proceeding,whethea civil or criminal,is begun that in L.ender's good faith judgment could result in forfeiwre of the Propaty or ; _,���` '.'� �
<br /> olhenvise materiaUy impair the lien created by this Securiry Inslnunent or Laider's seauity mterest.Bormwer may cure sucb a - �
<br /> d e f a n l i an d r e i n s t a t e,as provi d e d ia parag�ap h 1 8,by causu�g t he ac�an or p r o c e e d i ng to 6 e d i s n i s s e d wi t h a n�l i ng t l�a t,in • -• �
<br /> Lender s good faith deteaminarion,precludes forfeiture of the Baavw�'s interest in the Propeaty or other material impaiiment of � • �� ;�,�?;'�� �
<br /> the liea created by this Seauity Instrument or Lender's securiry c�terest.Borrower shall also be in detault if Borrow�,during the . . ;= ��j -
<br /> loan app�ica�ion pioce,gs,gave materially false or inaccivate Womiation or statements W I.euder(or fa�ed w provide Lender with . _ . ��. �
<br /> any material information) ui connection with the loan evidenced by the Nmte, inciuding, but not limited to,representations � S�
<br /> .�:•
<br /> conc�g Basrower's occupancy of the Propeaty as a principal resideuce.If this Security Insaument is on a leasehoid,Boarower .. ; ...`_ :: _
<br /> shall comply a+ith all the provisions of the lease.If Borrower acquses fee ade tn the Property,the leasehold and the fee atle shail � . '=f � `
<br /> not merge unless I,.endea agrees w the merg�in writing. . _: �'r._
<br /> 7.Protec�ion of Lender's Rig6ts in the Property. If Bonower fails w orm the covenants and '"'''
<br /> this Seaui lnstrumeat,ar there is a 1e � ���contained in . _.��"ar:°.
<br /> �Y 8�P�8�may si�candy affect L.endea's ri ts in ihe . -
<br /> gh Pinperty(such as a
<br /> proceeding in banlnuptcy.probate,for condemnaaon or forfeiture or to enforce laws or�gutations).then Lende.r may do and pay �� ' ���
<br /> for whatever is necessary w protect the value of the Propeaty and Lendex's rights in the Prope�ty.I.ender's actions may include
<br /> PaYmg anY suans seaued by a liea� whicb has priority over t3�is SeGaity Insuument, aPPearing in wurt,PaYmS reasonable ' �.`�-_
<br /> . attameys' fees end entrring on the Propeaty to malce repairs.Althoug6 L.eudr,r may take action under this paragiraph 7,Lender �, :... �:�-�--
<br /> does not have tn do so. �.,:�+.w--. ._
<br /> Any amouuts disbursed by Lenda und�this par�graph 7 shall become additional debt of Borrower secum,d by this Security �` �
<br /> Instrument Unless Borcower and Lend�agrce tn oWer trrms of payment,these amaunis shall bear interest from the date of � ..�' ��.
<br /> d i s b�useineat at t h e Note rate an d s t�a ll b e pay a b le,with interest,upon notice from Lender to Boirowe.r requespng payment � : .
<br /> 8.Mortgage Iosurance. If Lender required mortgage insuiancc as a wndidon of making the loan sec�u�d by this Sepuity .� � '�"" •
<br /> L�sprum�t,Sonower s9�all pay the premiums requined to maintau�the mortgage insurance in effect U, for any reason,tha . � .
<br /> mortgage insuiance coverage requiied by Lendea lapses or ceases to be u�effect,Borrow�sha71 pay the premiums required to � .. •
<br /> obtain ooverage substantiatly equivaleni tn the mortgage insurance previously in effec�at a cost substautially equivalent to the ' -' ' � �
<br /> cost to Bolrower of the mortgage insurance previousiy in effect, from an altematc mortgage insurer appmved by Leader.Tf • � �
<br /> substantially equivalent mortgage insurance coverage is not available,Borrower shall pay to Lender each month a sum equal to
<br /> on�twelhh of the yearly mortgage insurance pm,rnium being paid by Borrower when the insurarcce covea�age lapsed or ceased w � ' �
<br /> be in effect.Lender arill accepi. use and retain these payments as a loss reserve in lieu of mortgage insurance.Lass reseave � ' °
<br /> Form 3028 9180 �
<br /> � ��8R(NE�fC212L01 Pap�3ot0 inmal�: - ..
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