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<br /> S.Ha�ard or Property Insurance. Borrowcr shall kecp thc improvemcn4s now cxisung un c�rcafter crcctcd on�hc Propeny :��—
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<br /> ' insurcd ageinst loss by firc,ha•r.ards includcd wi�hin ihc tcrm "extended covcragc" nnd any othcr ha•r.nrds, including tloods or ��,__
<br /> � flooding,for which l.ender requ'ues insurance. "I'his insuranee shall be maintained in the amounts and for the periods thal Lender --�',_
<br /> � requues.The insurance carricr providing Uie insurancc shall he chosen by Borrower subject to I.endcr's approval which shnll not _ --
<br /> „ bc unrcasonably withhcld. If Bonower fails to maintair► covcragc dcscribcd abovc, Lcndcr may, at Lcndcr's opdon, obtain ':�
<br /> caverage to pratect Lender's rights In the Prope:ty in accordancc with paragraph 7, • ��;,�,
<br /> • All insurance pollcies and renewals shall be acceptable w L.ender and shall include a standerd mortgage clause.Lender shall ""� ,_ ..��
<br /> havc thc right to hald the policies and ren o�ossf Bo owereshaU givHc�P mpt oucc to the nsurancc canier and Lcndcr.Lcndcr 8 . __ —
<br /> premiums and rencwal notices.In the event , N _ __ _
<br /> muy makc proof of loss if not madc promp�ly by Boaowcr. ��� r��ration or rcpair of the 0
<br /> I Llnless Lcnder and Banower othcnvise agrcc in writin8�insurance praceeds shaU be app'
<br /> . � ptoperty damaged,if the restoradon or repair is er,onomically feasible and Lcnder's security ls not Iessened. If the��t��e sums � __
<br /> repair is not economically feasible or Lender's securiry�vould be Iessened,the insurance proceeds shall be app' Q
<br /> secured by this Scxurity xnsuument,w he t he r o r n o t[h e n d u e, w i t h a n y e x c e s s p a i d t o Borrower. If Sonower abandons the _
<br /> �, P r o p e r t y,o r d o e s n o t a n s w er within 30 da ys a notice Irom Lender that ihe insur�nce carrier has offeretl to seute a claim,Uten �_
<br /> � L.ender may wliect the insurance proceeds•Lender may use the procecds to repair or res t ore t h e P r o p e r ry o r t o p a y s u m s s e c u r e d �:''°.,�
<br /> by this Securiry Instrumcnt,whether or not then due.'Ihe 30•day period�vill begin when the nodcc is givcn.
<br /> Unless Lcnder and Bonower otherwise agree in wridng,any appllcadan of proceeds to prtncipal shall not extend or postponc
<br /> the due date of tt►e monthly payments referred to in paragraphs 1 and 2 or change thc amount of the payments.If under paragraph '-�:A..
<br /> . 21 the Property is acquired by Lender, Borrower's right w any insurance policies und proceeds resulung from damage to die �,.
<br /> Property pri�r to the acquisition shall pass to 1-ender to the extent of the sums secured by this Sccuriry Instrument immediately �<<r;>:,�.
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<br /> pdor to the acquisiUOn. .. �:�
<br /> �: 6.OccupAncy,PreservAtian,MafntenAnce And Protection of the Praperty; Borrower's Loan Applic.�►tion;Leaseholds. ;,,:. . __
<br /> Borrower shall occupy,establish,and use ihe Properry as Borrower's principal residence within sixty days after the execution of r�����.
<br /> �� this 5ecurity Instrument and shall condnue to occupy the Property as Bonower's principal residence for at least one year after the , —_
<br /> � + date af occupancy, untess Lender otherwise agrees in writin8� which consent shall not be unreasonably withhetd, or unless �
<br /> - a�t�nuatiag cir.;u�ssstanc.es ex�st whir��re heyond Borrower's control.Borrower shall not desuoy,damage or impair the Pcoperty, ��'., �±�w
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<br /> allow the Property co deteriorate, or commit waste on the Property• Borrower shall be in default ii any forfeiiure+x:iiu�► ae .�___
<br /> proceeding,whether civil or criminal,is begu�that in Lender's good faith judgment could result in forfeiwre of the Property or ;��
<br /> othenvir,e materially impair the lien created by�►is Securiry Instrument or Lender's security int�res�Borrower may cure such a =r'�{,�;ti.•
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<br /> default and reinstate, as provided in paragcaph 18,by causing the action or proceeding to be dismissed with a ruling that, in �!�'� ,.
<br /> Lendcr's good faith dctermination.prccludes forfeiturc af ihe Borrower's interest ln thc Property or other rreaterial impaitment of p:=.-
<br /> thc lien crcaud by Ihis Security Instrument or I.cnder's seturity inccresG Borrowcr shall also bc in default if Borrower,during the �j`., '�_
<br /> � loan application pcocess,gave materielly false or inaccurate informadon ar statements to Lender(ar failed to provide Lender with ;--:
<br /> . I uay matecial infom►adon) in connection with the loan evidenced by the Note, including, but not limited to, representadons , �j.
<br /> �. 1 conceming Borrower's occupancy of the Property as a principal residence.If this Security Instrument is on a leasehold,Bottower �`���_
<br /> s h a ll c o m p l y w i t h a ll t h e p rovisions of the lease,If Borrowcr acquires fce tide to thc Property,thc lcasehold and thc fec dde shall G_.,.._.,,,__
<br /> � not merge unless Lcndcr agrccs co thc mergcr in writing. F"s
<br /> ����� 7.Protection o[Lender's Righta in the Praperty. If Bonow.,r fails to pedorm the covenants and agreements contained in E,..�,.�
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<br /> . ; this Security Instrument, or there is a legal proceeding that may significantly uffect Lender's rights in the Proper[y(such as a x�••••P
<br /> ' proceeding I►►banlauP�Y•Probatc,for wndemnauon or fodeiwre or to enforce laws or regulauons),ihen Lender may do and pay C,� �'`�•-
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<br /> for whau:ver is necessary to protect the value of the Property and Lender's rights in the Properr.y.I.endcr s acdons may include
<br /> � paying any sums secured by a lien which has priority over this Sccuriry Instrument, appearing in court.paying reasonabie '"��.._
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<br /> � auomcys fcrs tmd entcring on the Property to makc rcpairs.Although Lendcr may take acdon undcr�l►is pazagrnph 7, L:nder , :_ _
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<br /> does not have to do so. _ _-���"
<br /> � Any amounts disbursecl by L.ender under this paragraph 7 shall become additional debt of Aorrower secared by this Securiry ______,_.___
<br /> InstrumenG Unlcss Borrower and Lendcr agrce to other tercns of paymenb thesc amounts shall bear intcrest from the datc of , �r�����;�r=;.
<br /> disburscment at the Note rate and shall bc payable.with intcrest,upon notice from Lendcr to Borrowcr rcquesting paymcnG �• , ,�':.;;:�
<br /> S.Mortgage Insurance. If Lender requucd mortgage insurance as a cvndiuon of making the loun secured by this Sccurity ' '-,:;�Y,.d,:.,, -
<br /> Instrument, Bonower shall pay the premiums recluired to maintai►► the mongage insurance in effect. If, for any reason, the , :•a'"�':�;�,:^s�
<br /> mortgage insurance coverage requircd by L.endcr lepses or ceases to tx:in effcct,Bottower shell pay the prcmiums requircd to . '� '
<br /> I obtain coverage substantiully equivale�►t to the mortgage insurance previously in effect,at a cost substantially equivalent to ihe . ����'�`., _
<br /> � cost to Borrowcr of thc mortgage insurance prcviously in cffect, from an altcrnate mortgage insurcr approved by Lr,nder. If ,
<br /> � substsu►tially equivalent mongage insurance coverage is not available, Borrower shall pay co I.ender euch month a sum equal to
<br /> � onc-twelfth of ihc ycarly mortgagc insurancc premium bcing paid by Borrower whcn the insurance coveragc lapscd or ccased w
<br /> , bc in effect. Lcndcr will acccpt, use and retain thcsc payments as a loss reserve in lieu of mongage insurancc. Loss reserve
<br /> ' Fo►m 3028 9f90
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