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<br /> 5.Na�.ard or Property Insurpnce. Borcowcr shall kccp thc improvemcn�w now cxisting or hercafter c�rcted on thc Property f . °_�.-
<br /> insurcd against loss by firc,har.ards includcd within thc tcrm "cxt�ndcd covcragc" und any othcr herards, including tloods or i ,;',�
<br /> • tlooding,for which Lcndcr rcquiras insurancc.'Ihis insurancc shnll bc maintair►ccl in thc nmounts and for thc periods that l.cndcr � `;y=;-_
<br /> requ'ves.Thc insurancc carric�providing d�c insurunce shall bc chosen by Borrawcr subjcct w Lcndcr's appraval which shall not ' ;:: 5.;_:
<br /> bc unreasonably withhcld. If Borrowcr fnils to maintain covcrage dcscribcd abovc, l,cndcr may,at l.cndcr's opuun, oUtsin _�;;:,..�-_:_
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<br /> coveragc ta protect L.ender's righis in the Property in sccordance wlth paragrnpl�7. '-�:-=_-=;__ -
<br /> All insurance policies and renc�vals shall bc ecceptable to L.ender and shall include a stnndard mongage clause.Lendcr shall� 1�, �;,;-T,.
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<br /> have the right to hold�he policies and rencwals.lf Lender requues,Borrowcr shall prompdy give to Lendcr all receipts of paid � _.—.:�_ _ _
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<br /> premiums nnd rencwal noticcs.In the cvent of loss,Bonower shaU givc prampt nouce to thc insurancc carricr and Lcndcr.Lendc� _ --
<br /> may makc proc�f of loss iF not made prompQy by Boaowcr. _ ,_a___
<br /> Unless Lcndcr and Sorrowcr othcrwisc agrcc in wridng,insurancc procecds shaU be applicd to restoration or rcpair of th .____
<br /> prapect}r damnged,if the restoration or repair is cconomically feasiblc and Lender's security is not Icssened. If the restoradon o
<br /> � repair is not cconomically feasiblc or Lcnder's security would bc lcsscncd,thc insurancc procceds sha11 be aPPliecl to thc sum� ;�
<br /> secured by this Securiry Instxument, whcther or not thcn duc, with any cxcess paid to Borrowcr. If Borrower abandons thq,j� :�
<br /> Property,or does not answer within 30 days a notice from Lender that tho insurance carrier has offered w seule a claim,then �,,:�, __
<br /> I.ender may collect the insurance proceetis.Lender may use ihe proceeds to repair or restore the Property or to pay sums secured .'`;�'
<br /> by this Security Instrument,whethcr or not ihcn due.The 3Q-day period will begin whcn thc notice is given. '�:
<br /> Unless L.endcr and Borrowcr othernisc agree in writing,eny application of proceeds to principal shall not extend or postpone
<br /> the duc datc of the monthly paymenL referred to in paragrapbs 1 and 2 or change tha amount of the payments.If under para�raph
<br /> 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resultu�g from damage to the
<br /> property prior to the acquisition shall pass w Lender to the extent of the sums secured by this Security Instrument immediately �, .
<br /> prior w the acqui.siuon.
<br /> 6.Occupancy,Preservation,Maintenwnce and Protection of the Praperty; Borrower's Loan Application;Leaseholds.
<br /> �• Borrower shall occupy,establish,and use ihe Property as Borrower's principal residence within sixty days after the execudon of ..�� � �--_
<br /> . this Security Instrument and shall continue to occupy the Properry as Bonower's principal residence for at least one year after the ••� .
<br /> date of occupancy, unless Lender otherwisc agrees in wrian8, �*+hich consent shfill not be unreasonably withheld, or unless „ .�.
<br /> � extenuating circumstances exist which are beyond Bonower's control.Bonower shall not destroy.darnage or impair the Pcoperty, :�, ,. �;�,_`;
<br /> - ,�Ilow ttia l'ropert}' ic dateriorste, er tommiL wastr_. �n �he Property. Borrower shell bc in default if any forfeiture acpon or _ �,__.�:� : ,
<br /> � proceeding,whether civil or criminal,is begun that in L.ender's good faith judgment could result in forfeiture of the Property or �'�
<br /> } otherwise materisUy impair the Gen created by this Security Instrument or Lender's securiry interesG Borrower may cure such a ��* �;;'=
<br /> 1 default and reinstata,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling that, in ^,+
<br /> Lender's good faith determinadon,precludes forfeiwre of the Borrower's interest in thc Property or other matcrial impairment of '`.
<br /> the lien crcuted by this Securiry Insirument or Lender's sccuriry intcresG Borrower shall also be in dcfault if Bonower,during the ��• �,
<br /> loan applicabon process, gave materiaUy felse or inaccurate informarion or statements to Lender(or failed to provide Lender with " ��
<br /> � any material informarion) ici connecdon with the loan evidenced by the Note, including.but not limited to, representadons
<br /> concerning Bonower's occupancy of the Property as a principal residence.If this Security Inswrnent is on a leasehold,Borrower „+ �
<br /> shall comply with al]Ihe provisions of thc leasc.If Borcower acquires fec qtle to the Property,the Icasehold and the fee title shall :-'�
<br /> not mcrge unless Le:nder agrees w the merger in writing.
<br /> 7.Protection olLender's Rights tn the Property. If Borrower fails to perform the covenants and agreements contained in :ti
<br /> this Security Instrument, or there is a legal proceeding that may significandy affect Lender's righis in ihe Property (such as a ;'_��,_.._
<br /> procccding in banlcruptcy,probate, for condemnauon or forfciwre or to enforce laws or reguladons),then i.endcr may do and pay ____
<br /> for whatever is nece.�sary w protr.ct the value of the Property and Lender's rights in the Property.Lender's acdons may include -'="°"�`� _
<br /> paying any sums scxured by a lien which has priority over this Security Insirument, appearing in court. payin8 reasonable ��ir_.
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<br /> � attorncys' fees and entering on thc Property co makc rcpairs. Although Lender may takc action under this paragraph 7,Lendcr :_—
<br /> docs not havc to do so. '^;w�-���s
<br /> Any amounts disburscd by Lcnder under this paragraph 7 shall become additional debt of Borrower sccured by this Security �, :_.:-"
<br /> � InstrumenG Unlcss Borrower nnd Lcndcr agrec to other tcrms of payment, thcse:unounts shall bear intcrest from the dute of �:,;----------r
<br /> disburscment at the Note catc and shall bc payable,with interest,upan notice from Lendcr to Borrowcr rcquesting paymenG "i2- A�I�.,.:
<br /> 8.Mortgage Insurance. If L.ender requued mortguge insurance as a condipon of making the loan secured by this Securiry ����1Mv
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<br /> Inswment, Borrowcr shall pay the premiums requ'ved to maintain thc mongage insurance in cffect. If, for any reason, thc , , -�;; �� .
<br /> mortgage insurance coveragc required by L.ender lapses or ceases to be in effect, Borrower shall pay the premiums required to . �. . .
<br /> ; obtzin covera�e substantially ectuivalent to the mortgage insurance previously in effect,at a cost substantially equivalent ro the , .-�.,�
<br /> ! cost to Borrowcr of thc mortgage insurance previously in eftect, from an alternatc mortgage insurer approved by Lcnder. If .
<br /> � substanpally equivalent mortgage insurance coverage is not available,BoROwer shall pay to Lender each month a sum equal co
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<br /> � one-twel8h of the yearly mortgage insuranee premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> j be in effecG Lender will accept, use and retain these payments as a loss reserve in lieu of mongage insurance. Loss reserve
<br /> � Form 3026 Ol90
<br /> �•6R(NE)rozis�.oi P�q�s o�e inmw:
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