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<br /> � � 97— 1c��F��. ,. �.�.�:
<br /> S. Hazard or Property Inse�rance. Barrower shall keep the improvements now exiAting�r l�erealter orected an : ;�' '
<br /> t h e P r o p e r t y i n s u r e d a g a i n s t l o s s b y f i r e,h a z a r d s i nc luded within the term "extended covera ge"nnd any othor heaardv, ,.::':,'�i,.t.4�a
<br /> including floods or flooding,for which I.ender requirea inaurencP.This in�urance shall be maintained in the amount� ".. . . .. ___
<br /> �. and for the periods that Lender requires.The insurance cnrrier providing the ineurance sheU be chosen by Borrawer f;� ' �„t'-��__
<br /> subject to I.ender e approval which shall not be unreasonably withneld.I[Borrower fails to maintain coverage described ��-Y`�
<br /> above,I.ender may, at I.ender a option.obtain coverage to protect I.ender's righte in the Property in accordance with '�' " ��"-�
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<br /> , . "''� paragraph 7. �:k�`���_
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<br /> All insurance policies and reneNais shall be acceptable to Lender and shall include a etandard mortgage clause. f,�`=--=�-�
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<br /> I,ander shall hnve the ri�ht to hold the policies and renewals. Ii Lender requires, Borrower ehall promptly give to ,, ,,.�.,,.:_
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<br /> • Lender all receipts of paid premiums and renewal noticcs.In the eventc ot loss,Borrawer shall give prompt notice to the ---- --
<br /> ineurancc carrier end Lender.Lender may make praof of loss if nat mgdc promptly by Bonower. ;
<br /> Unlesa Lender and Bonower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair t.•�•___
<br /> � of thcProperty damaged,if the restoration or repair is economically feesibla and Lendar's securit� ie not lessened.If thc ;.s='.,__
<br /> � restoration or repair ie not ecanomically feseible or Lender's security would be lessened,the inaurance proceeds shall ba -
<br /> „ applied to the sums secured by this Security Instrument,wheth�r or not then due, with any excess paid to Bonower.If ��;-
<br /> Bonower abandons the Property, or does not answer within 30 days a notice from Lender that the inauranca cntrier has �;:���
<br /> ' offered to settle a claim, then Lender may callect the insurunee procads.Lender may use the proceeds to repair or u�_
<br /> ��.;��, restore the Property or to pay sume secuted by this Security Inatrument,whethar or not then due.Tha 30-day period will �,;�'��
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<br /> �;�:���". br.ginwhen thsnotice is given. �
<br /> �•�`'.' Unlass Lender and Borrower otherwise egree in writing,any appl icatian of proceeds to principal shall not extand or s'�`"�"��-=
<br /> . `.��t` poatpone the dua date of the monthly payments referred to in paragrephs 1 and 2 or change the amount of the payments. ,.ti�r
<br /> ;.�?�. It under paragraph 21 the Property is acquired by I.endar, Borrower's right to any insuranca policies and procads •.:,.�.r_
<br /> �.:•��; resuiting from damnge to the Property prior to the acquisition ehall pase to Lender to the extent of the auma secured by ''�`�
<br /> .'H`1 this Security Inetrument immediately prior to the acquisition. �'�: '"-��
<br /> �? 6. Occu anc ,Presarvation,Maintenance snd Protactioa oi the Property; Borrower's Loan Applicstion; "',y;�=
<br /> � Leasoholds.Borrower shall oceupy,establieh,and uso the Property as Borrower's principal residence within siaty days f_i�, �--
<br /> atter the execution of this Security Instrument and shall conti nue to occupy the Property as Borrower's principal �;?`---�_
<br /> ,'� residenco for at least one year after the date of occupancy,unless L.ender othorwise agree.s in writing,which consent shal! 4"c':_�
<br /> :--_- - •.,.'��- noi,bo u�ucr,s�,i�n�ly wiihhal3,or ur.::,�,s c;,�t::nuaLing cs:cnm�.s.�c°.,resist which flit bey�t!�PC+.*mw�p'p��ntml.Aorrowtr
<br /> shall not destroy,damage ar impair the Property,aUow the Property to deteriorate,or commit waste on the Property. _-
<br /> , � Borrower shall be in default if any forfeitura action or praceeding,whether civil or criminal,is begun that in I.ender's -
<br />- good taith judgment could result in forteiture of the Property or otherwise materially impair the lien created by this � _
<br /> • � Security Instrument or Lender's security interest. Bonower may cure such a default and reinstete, as provided in _
<br /> � pnragraph 18, by causing the action or procxding to be dismissed with a ruling that, in Lender's good faith
<br /> •'+ determination,precludes for[�iture of the Bonower's interest in the Property or other maurial impairment oi the lien �—
<br /> _. created by this Security Instrument or I.ender's security interest. Sonower ehall also be in detault if Horrower,during
<br /> , * the loan epplication ptoc�ss, gave metorially falso or �naccurate information or atatements to Lender (or t�ilod to ,-�,.
<br /> � • provide I,enda with any rn�urial intormetion)in connxtion with tho loan evidencod by the Noto,includin�,but not
<br />_' ' .,, limital to, representations concerning Bonower's occupancy of the Property es n principal residence.If thie Security
<br /> 3r_ M1 , ' Instrument is on n lr.asohold,Borrower shell comply with all the provisions of the lease.If Bc�rrower acquires tee title to
<br />-r,..:' ;;;� the Property,the leasehold and the fee title ahall not merge unless Lender agrees to the merger in writing.
<br /> � 1. Protection of Lender's Ri�hta in the Property. If Borrower fnils to perform the covenente nnd agreements
<br /> ��� �T' contained in this Socurity Instrument,or there ie a legal procxding thnt may significantly aficet Lender'e rights in the
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<br /> ' , � PropeKy (such es a procoeding in bankruptcy, probate, for wndemnntion or forfeiture or to enforce Iaws or �
<br /> ' `''! teguletiona),then I.ender may do nnd pny for whatever is necessary to protect the value of tho Property and Londer's
<br /> -� "' righte in tho Property.Lendcr's actiona mey include paying nny surne secured by a lien which has pnority ovor this .,
<br /> • Security Instrument,npp�aring in court,paying reasonnble attomoys' fas and entonng on the Property w mako repnirs_ -
<br />�;,- �.�:.`� Although Lender may take ection under thie paragraph 7,I.ender does not hava to do so. ` -
<br /> � Any amounta diabursed by Lender under this paragraph 7 ehall become additionnl debt of Borrower exured by this _i
<br />_�:::�=`�; Security Instrument.Unless Borrower nnd I.endar agree to other terms of payment,these amounta shntl bear interest �=
<br /> A ":~" � trom the date of disbursement at the N�te rate and shell ba payable,with intorest,upon notice from Lender to Borrower =-
<br /> `'.� requa�ting payment. -
<br /> - •y�- �� 8. Mort�a je Insuraac�.If Lender required mortgage insurance as a condition of making the loan secured by this
<br /> Security Instrument,Borrower shall pay the premiume required to rc►aintain the mortgage insurance in et[ect.It,for any �`'
<br />" r�ason, the mortgage insurance coverage requircd by Lender lapses or ceases to be in effect,Borrower shall pay tho
<br /> . premiums required to obtain coverage eubstantially equivalent to the mortgage insurance previously in effect,at a cost ,.:s� ..
<br /> - - substantially equivalent to the cost to Horrower ot the mortgage insurance previously �n effect, from an alternate '-`-'i'"
<br /> mortgage insunr approved by Lender. If substantially equivalent mortgage insurance coverage ie not available. '�;`��.=_-`°`= --
<br /> � Borrower shnll pay to Lender Bach month a sum equal to one-tweltth of the yearly mortgage insurance premium being --,-_~:_-__�_�_
<br /> ? paid by Borrower when the insurance coveraga lepsed or ceased to be in effxt.Lender will accept,use and retain these � �_'��';'c�=:°=�-'"�'��
<br /> payments es a loss reserve in lieu at mortgage insuranca I.oss reserve paymenta may no longer be requirod. .:�R'�`�v"�n�=�`
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