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<br /> S. �iauird or Property lo�surunce. Snrruwrr �hall kcc�ihe improvcm�nts uuw cxi,tin� ur h�:rr.��ltcr crected ari ihc
<br /> Nr�,p�i�y insurcd a}�ain+t loss hy fire, h.�iurds includcd within thet�nn "extendcJ rc,vcratc" .md ;mY u�licr hura�rJti. incl�sJing
<br /> fluud.ar tla�ding. fur wfiich Lcndcr requircti in,uranrc. This in+uruncc tihall hc mui�itainc� in tiic:u�iu�iiith�nd I���r�ti�perinds .
<br /> tha; Lrncicr rcquirc�. Thc in�uranrc carricr priividing thc insurcuxc �hall hc rhu:�rn by Hnrruwcr yuhjcr� to I.�:ndcr'ti appruvnl
<br /> � �;':� whictt �hull nut be unreasunahly withhcld. If Burruwcr tuils n� muimaui a�vrra�te J�ticrib��l ab�n�. I_cnder nuiy. �it I.�ndcr's
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<br /> , • option,obtuin covcrugc tu protc�t I.rndcr's rights in thc Propcny in:.iccordancc with paragraph 7. �
<br /> � -~'''" All insurance policics und renc�valti tihall 6c ucccptahlc tc� Lcridcr unJ shull incluJc :i tit.uidard mortgngc clnus�•Lcndcr , .
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<br /> shall have thc right tc�hald the palicies und renewal�. lf l.cnder r�qu ires, Borrawer siiull prompdy give u� I.cndr.r ull reccipts of f •.,
<br /> paid premiums und renewal notices. In the event of luss, Bormwer shall give prompt notice to the insurance carricr;ind Lender.
<br /> Lender may make proof of loss if not made promptly by Borrower. -
<br /> Unless Lendcr and Borrower othcrwisc agrcc in writing,inwrance procecJs shaU bc applicci to restnration�r mpoir c�f thc �
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<br /> Praper[y damaged, if the restoration or repair is econamically fepsibleand l.ertder's security is not Icssencd. If tlie restomtion or .
<br /> repair is not economically fe:ssible or Lender's security would be lesuned,tE�e insurance proceecls shnU be npplied to �he sums �;.^-
<br /> secured by this Securiry Insirument, whether or not then due. with any excess paid to Borrower. If}3►�rro�ver aGnador�s the _
<br /> Property,ar daes not answcr within 36�ays a notice from Lender �(aeed'ourena i or restoe the PmPerty tor to'pny�ums -
<br /> � Lender may collect the insurance proceeds. Lender may use tlx p P ':_
<br /> �� secured by(his Securiry Instrument. �vhethcr or nnt then due.Thc 30-day period will begin when the noticc:ie givcn. �;�
<br /> ' Unless Lender and Borrower otherwise agree in writin�,uny application of proceeds ta principal shull nul exte�d or
<br /> postpone the due date of the monthly payments referred to in yaragrap hs I an d 2 o r chan ge the amount of the puyments, If
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<br /> '�•��.�,.. under paragraph 21 the Property is acquired by l.ender, Borrower's right to any insurance policies and prnceeds resul�in� from
<br /> �;-��i damage tothe Property prior to the acquitiition shaU pass to I.ender toth�extent of the sums secured by this Securiry Instrument
<br /> immediately prior to the acquisition. ��
<br /> " 6.Occupancy, Preservution,Matntensnce and Protectfon of the Fro�vert�•;Bor�ower's Loun Appllcation;LeASelYOlds. ��_
<br /> '' Borrower shall occupy, estublish,and use the Propeny as Borro�ver�s princi�al residence wi:hin sixty duy�:nfter the execut ion of .�:v
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<br /> this Security Instrument And shall continue to occupy the Property as Ecxrower's principal residence far ut Ieast one year after
<br />. ' �, the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably wiq�held,or unless __`
<br /> extenuacing circumstances exist which am beyond Borcower's cc�mroL Borrower shull not dcstroy, dumage or impair the �,:
<br /> F���G�y �Za.;;s�� p.��.�r� rn �tPtPriora�e. or commit waste an thc l�peny. Horrower shall be in defnult if any forfeiture =
<br /> nction or proceeding,whether civil or criminal,is begun that in L.ender's�ood faith�udgmenc couid re�ui[iu iorf�:;ic�� :,f:."•c �-
<br /> Property or otherwise materially impair the lien createci by this 5ecuriry Instrument or Lendcr's security interest.Borrower muy -
<br /> • '' cure such n default and reinstate,as provided in paragraph l8. 6y causing the action or proceeding to bc dismissed with a ruling
<br /> ' '''';5;,., that, in Lender's good faith detennination, precludes forfeiturc c�f dic Borrowcr's interest in thc Prnperty ar other material _
<br />-- .,,.;r.. impairment of the lien createci by this Security Instrument o�•Lender's security interest. 8orrower shull also be in deFflult if -
<br />.��•��;� " �ottower,during the loan application process,guve materiuUy fal�:e:or inaccurnte information or stateme��ts to Lcndcr(or failed
<br />-_ .,,, to provide Lender with any material infomiatian) in connecti�rn with the loun evidenced Uy the Notc, including,but not limited
<br /> _-',�,,,;.;'' to, representations conceming Borrower's occupancy of the Pc�pertY as a principal residence. If d»s Seaurity Instrument is on a
<br />'I<R;:���?!� leasehold. Borcower shall comply with all the provisions mf ihc lease. If Borrower acquires fee titic to the Praperty, thc
<br />"`�`W�=_--; � leasehold and the fee title shall not metge unless Lender agt�ccs iu thc merger in writing.
<br /> _ -- =�` If B�rrrowcrf�ils to perform the covenants and agrcements contained in
<br />-"-'�"°�''"-'� 7.Protection of Leuder's Rights in the Property
<br /> ��z',�':'°'� this Security Instrument, or there is a legal proceedin8 thtn may significantly affect Lender's rights in tha Pmperty(such as a
<br /> -��'•�""� proceeding in bankruptcy,probate, for wndemnation or fiFrf4.iwr�or to enforce laws or regulations), than I.ender mny do and
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<br /> �s��� pay for whatever is necessary to protect the value of the Prr��ercy and Lender's rights in tlie Property. Lender's acuons may
<br /> `=��titi� include paying any sums secured by a lien which has prioriry over this Security InstrumeN, appaaring in court, pnying
<br /> =J=T._ reasonable attomeys'fees and entering on the Property to mal<e r�pair.;.Althoush I.cnder may take action under this paragraph
<br /> `"�'� 7,L.cnder dces noL have to do so.
<br />�:.���� Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secumd by this —
<br /> ----=��=`-�= Security I►tstrument. Unless Bonower and Lender agree to a•ther tem�s of payment, these amounts shall bear intcresc from the
<br /> •�s��=� datc of disbursement at the Note rate and shall be payubl�_ �vi[B interest, upon notice from Lender to Borro�ver ree�ucsting
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<br /> =;��+� •••� p y 8.Mortgn�e Insurnnce.If Lender rcquired mortgage insurance�s a condition of makin�the loan sccured by this Secunty
<br /> �'''�� �"`~ Instrument. Borrower shall pay the premiums required to maintain the mortgage insur�nce in effect. If, for any reason, the __
<br /> � '�"' mortgage insurance cover►ge required by Lender lapses or ceas:s tn be in effect,Borrower shall pay the premiums recluired to ___
<br /> - � obtain wverage substantiully equivalent to the mnrtgnge msuranec p�viuusly in effc�:t,at a cost substantiully equivelent ro the Y
<br /> •• � '• cost to Borrower of the mortgage insumnce previously in ef(ect,frmm an alternate mongt�ge insurer approved by Lender. If —
<br /> � ' . substantialiy equivalent mortgage insurance coverage is not avail�ble, Burrower shull pay to Lender euch month a sum equal to �
<br /> ". one-twelfth of the yearly mongage insumnce premium being p�id by 13orrower when the insurance coverage lapsed or ceased to s„.
<br /> ' be in effect. Lender will accept,use and retain these paymentsas al���;s raserve in lieu of mon�age insurance. Lass reserve _
<br /> ., Form 3028 9/80 —
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