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<br /> . � S.Haxard nr Property InsurAncencludcd within the term cxtended covcr ge" and anY o�herchai.ards, ncludi g tloods or � ' ".
<br /> ; insured against loss by firc,hw.ards i �
<br /> � flooding,for which Lender requires insw'ance•'I'hiq insuranc�C osen b�Borrowen�ubJect tnnl.�derf s n prav�all�i hashnll not . . ! ' _
<br /> requira5.Thc insurancc carricr providing thc insurancc shal Y
<br /> ; bc unrcasonably withhcld. If Bortowcr fails to mainlain covcragc describcti abovc,Lcndcr may, at I.cndcr's opdon, obwin _
<br /> covera e w rotect L.ender's dghts in the Property�n accordance with Paragraph 7. S��d mortgage clause.l..ender shail� ;
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<br /> All insurance policies and renewals shall be accePteble to Lender and shall include a
<br /> havc thc right to hold the pallcies and renewals ssfg��c�9h��iBe plompt nodcc to thc nsurancc cam�crrund Lcndcr.Lendc�r r
<br /> prcmiums and rencwal noticcs.In thp event of la Borrowcr. p --
<br /> may maka proof of loss if not made rompily by �•
<br /> Unla4s Lender and Borrower ott►erwise egree in writing,insura►►ce proceeds sl;all be aPP1�ed to resaradon or repair of the _
<br /> Property damaged,if thc restoradon or repair is��mi ould bellcsscncd,thc insurar►ce prlocecds�shall he app cd in thc sums � � ,_''
<br /> repair is not economically feasibie or Lender's sec ty
<br /> sccurcd by this Security Instrument, whether or not ilicn duc, with anY excess paid to Borrower. If Borrower abandons the
<br /> Property,or does not answer within 30 days a notice from Lcnder that the insucance ca�ier has offe o�paY ums seeured :
<br /> Lender may collect the insurance proceeds.I.ender may use the procuds to repairwhen the notice is�vc• --
<br /> by this Sectuity Instrument,whether or not then due. 'Ilic 30-day period W►ll be8in
<br /> Unless Lender and Borrower otherwise agrec in writin8.anY aPPlicauon of proceeds to Prin�ipal shall not extend or postpone
<br /> the due date of thc monthly payments refeacd co in pareSraPhs 1 and 2 or change the amount of the payments.If under paragraph
<br /> � 21 ihe Property is acquired by Lender, Borrower's dght to any insurance policies and procceds resuldng from damage to the
<br /> property prior ta the acquisition shall pass to L.ender to the extent of the sums secured by this Securiry Instrument immediately �
<br /> � prior to the acquisition. Borrower's Loan ApplicAtion;Leaseholda. _
<br /> 6.Occupuncy,Preservation,Maintenance and Protection ot the Property;
<br /> k Borrower shall occupy,establish,und use the ProperiP as Bonower's pdnclpal residenc:c within sixty days after die execution af -
<br /> this Security Insirument and shaU continue to occupy ihe Property as Horrower's principal residence for at least one year after the
<br /> date of occupancy, unless Lender otherwise�a a$�W�s�nuoll Bo o er shall not desuoy,duna8o or irt►Pair d►e Prolxrt}'�
<br /> _. = c x s e n�a�na r j F�i�m c t a n c e s C x i s[w h 1 C h�C b C y �_�
<br /> ' a l low t he P ro p e R y t o d e t e ri o r a t e, o r c o m m i t w a s t e o n t he Pro p e�t y. BorroWr� 5�� � � ��f s u l t i f e n y f n r f e i a u e a c d o n o r _
<br /> t proceeding,whether civil or criminal,is begun�hat in Lender's good feith judgment coul d resu lt in for fei w r e o f t h e P r o p e rt y o r E_:
<br /> .. otherwise materi a l ly i m p a i r c h e lten created b y this Security Instrument or Lender's security interest. Borrower may cure such a �:,:`
<br /> ''' default and reinstate,as provided in para8raph 18.by causing the acuan or proc,eedinS w be dismis s e d wi t h a r u l i n g t h a t, !n -
<br /> Lender's good faith determination,precludes forfciwre of the Bonower's interest in the ProP�rtS'or other materip�imnairment of _ _
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<br /> � the lien crcated by this Secudty Instrument or I.ender's securicY interesG Boaower shall also be in dcfault if Borrower,dtuing t1►e �
<br /> ti. loan applicadon pracess,gave materially false or ir�accuraee informadon or statements to Lender(or failed to provide I.ender with �
<br /> �, any material informadon) in connecdon with the loan evidenced by the [Vote. including, but not Gmiteti w, represenwtions �
<br /> ;: concerning Bonower's occupancy of the�'roperty as a principal residence.If this�ecuriry Instrument is on a leasehold,Bonower -_�
<br /> �, sh�ll comply with all the provisions of the lease,If Borrower acquires fee ritle to the PcoP�nY,�►e leasehold and the fee dde shall ��
<br /> : not mage unless Lcndcr agrees to d►e merger in writing• —
<br /> •• 7,Protection of Lender's Rights in the Praperty. If Borcower feils to pe�form t1►e covenants and agreements contained in _
<br /> ' this Security Instcument, or thcre is a legal proceeding that may significantly affect 1-�nder's rights in the I'roperty(such as a
<br /> �;, proceeding in bankruptcY,probate,for condemnauon or fodeiture or to enforce laws or regulations),then Lender may do and pay =----
<br />� for whatever is nccessary to protect thc value af the Property and L.ender's rights in the Property��nde�ru�ac�u'aoy�g ie�as�o�nable =_ —
<br />' �� paying any sums secured by a licn which has priarity over this Sccuriry Instrument, appcari g �`r
<br /> • suomeys' tees and cntering on the 1'roperty tn makc repairs.Although Lendcr may take acGon undcr this paraSraph 7,Lender ��:�.
<br /> : docs not havc to do so. '
<br /> Any amounts disbursed by Lender under this paragraph 7 shnll ber.ome additional debt of Bonower securecl bY Ih�s Security � v;_T�� �
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<br /> InstrumenG Unlcss Borrowcr and Lcndcr agrcc t,o other terms of payment,ihese amounts shall bear interest from thc date of � �-..
<br />' disbursement at the Notc rate and shall be payablc,with i�terast,upon noGcc fmm 1-cndcr to Borrowcr rcquesdng paymenG ,, �F;�� -
<br /> 8.Mortgage Inaurance. If Lender required mortgage insurance as a condidon of making the loan secured by this Security .
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<br /> Inswment, Borrower shall pay the prcmiums required ro maintain the mortgage insurance in effcct. If, for any rcason, ihc 4 �;•'
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<br /> mortgage insurance covernge rcquired by Lcnder lapses or ccases tn be in effect,Bonower shall pay the premiums required to , } -� .
<br />� � obtain coverage substanaally equivalent to the martgage insurance previously in effect,at a cost substantially equivalent to Ihe . ,,,;�
<br /> cost w Borrower o f die mortga$e insurance previously in effect, from an aliernate mortgage insurer approved by L.ender.If
<br /> substantially equivulent mortgagc insurance co��cragc is not available,Bonowcr shall pay to Lender cach month a sum cqual to
<br /> one-twel[ih of the yearly mongage insuranec premium being paid by Bonower when the insurance coverage lapsed or ceased to
<br />` be in ef[ect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> : j Form 3028 9190
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