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<br /> S. �IRZard or Property Insurance. &�rrowor shall kecp the improvemcnts now existing or hereafter erected on the
<br /> '"' praperty tnsurcd against loss by fire, hazards included within the term "extended coverage" and any othcr hazards, including
<br /> �� � '0�. � flocxis or tlooding, for which I...ender requires insurance. This insurance shall be maintainad in the arnounts and for the periods
<br /> ,' " that l.,ender requires. The insurance cazrier providing the insurance shall be chosen by Borrower subJect to Lender's appraval
<br /> � which shall not be unreasonebly withheld. If Borrower fails [o malntain coverage described abovc, I.cnder may, at Lcnder's
<br /> . .. � , option,obtain coverage to protect Ixnder's rights in tlie Propeny in accordance with paragraph 7.
<br /> All insurance policies and renewals shall be acceptable to L.ender and shall include a standard mongage clause. Lender
<br /> sl�all ha��c the right to hold the policies and renewals. If Lender requires, Borrowar shall prom�tly give to Lcnder all rcccipts of �
<br /> paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to tlie insurance carrier and l.ender.
<br /> �•���',�+.. ` L.ender may make proof of loss if not made promptly by Borrower. ,
<br /> :'�"' Unloss Lender and Barrower otherwise agree in writing, insurance proceeds shall l�°,npplied to restoratian or repair of the
<br />;�, Property damaged, if the restoration or repair is economicaUy foasible and l.ender's security is not lessened.If the restoration or
<br /> -i� repair is not economically feasible or Lender's security would be lessened, the insurance procecds shall be applicd to che sums
<br /> sccured by this 5ecurity Instrument, whether or not then due, with any exass paid to Borrawer. If Boaower abandons the
<br /> _ . Propeny, or does not answer within 30 days a natice from L.ender that the insurance carrier has offered to setde a claim, then
<br />,• Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sunis
<br /> ��•-�•.� �': 1 secured by this Security Instrument, whether or not then due.The 30-day period will begin when the notiae is given.
<br />°�:,.��' � . Unless Lender and Borrower othenvise agree in writing, any application of proceeds to principal shall not extend or
<br /> postpone the duc date of the monthly payments referred to in paragraphs 1 and 2 or change thc amount of[h� �ayments. If
<br />�'<<�'� under paragraph 21 the Property is acquired by Lender, Honower's r'sght to any insurance policias and proceeds resul[ing from
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<br /> damage to the Property prior to U�e acquisition shall pass to L.ender to the extent of the sums secured b��thic Securit��Instrument
<br /> �:,a ;_A;•: immediately prior to the acquisition. :
<br /> - • � � 6.Occupancy,Preservation,Maintenance and Protectlon of the Property;Borrower's Loan ApNlicatlon; Leaseholds.
<br /> Borrower shall occupy, establish,and use the Property as Borrower's principal residence within sixty days after the execution of
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<br /> �-'_� � � this Security Insuument and shall continue to occupy the Propeny as Borrower s principal residence for u lcast one year after
<br /> ";;���;�, � the date of occupancy,unless Lender otherwise agrees in writing, which consent shall not b�unreasonably withheld, or unless
<br />- :� • . , . extenuating circumstances exist which aze beyond Borrower's control. Borrower shall not destroy, damage or impair the
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<br />'<��}r' Property, allow the Property to deteriorate, or commit waste on the Propeny. Borrower shall be in default if any forfeiture
<br /> action or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfciture of[he
<br />:�.-':•Y�:: •�;�• propeny or otherwise macerially impair the lien created by this Security Instrument or Lender's su;urity interest. Boaower may
<br /> `.-��: �"•"�� cura such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br /> � �rt.;;-.,�,: iiiat, i,i Leuder's g�,�:. faith �eee:tni^.aLion, glCel!!d?s fnpfP�riirP nf th� Rorrnwer'c interest in the Property or other material
<br /> �a�;;=�': •.;'' impairmant of the lien created by this Securiry Instrument or i.ender's security tnterest. Borrower shall also be in default if
<br /> " '� ''�"�` Rorrower, during the loan epplication process,gave materially false or inaccurate information or statements to I.ender(or failed
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<br />-=•;Q,s:��'"A--.: to provide Lender with any material information)in connectton with the loan evidenced by the Note,including,but not limited
<br /> -�v;��.i^G`` to, representations concerning Borcower's occupancy of the Property as a principal residence. If this Securiry Instrument is on a
<br /> -°-'4'�%:��iE leasehold, Boirower shaU comply with all the provisions of the lease. If Borrower acquirr.s fee title to the Propeny, the
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<br /> --_�._��r�,,, lca:,ehold and the fee dtle shall not merge unless Lender agrees to the merger in writing.
<br />�_�;;�;.,��;� 7,Protectbn of Lender's Rights in the Property.[f Borrower fails to perform the covenants and agreements contained in
<br /> -��=���` ''ti�`�7 this Security Instrument. or there is a legal proceeding that may significantly affect I..ender's rights in the Property(such as a
<br />.��`='=-������ procading in bankniptcy,probate. for condemnation or forfeiture or ro enforce laws or regulations),then Lender may do and
<br />=-�-,-;;��_r�s�� pay for whatever is necessary to prota:t the value of the Property and Lei�der's rights in the Propeny. Lender's acdons may
<br /> -°"�'�=�; include paying any sums secured by a lien which l�as prioriry over this Security Instrument, appearing in court, paying
<br />---:--;ae.•�:��� reasonable attomeys'fees az�d entering on the Property to make repairs. Although Lendor may take action undcr this pazagraph
<br /> ��•"_R�%''��'! 7, Lender does not have to do so,
<br /> _-- Any amounts disbursed by Lender under this paragraph 7 shall become nddidonal debt of Borrower secured by this
<br />-�w,r,"'�`"�� Socuriry Instrument, Unless Bonower and Lender agree to otlur terms of payment, thesc amounts shall bear intcrest from the
<br />_;��� r date of disburument at the Note rate and shall be payable, with incorest, upon notice ftnm Lender to Bonower requesting
<br /> - �,::;:;.,,�:�." payment.
<br /> _w��:;��. 8.Mortgoge Insurance. If Lender required mongage insurance as a condition of making the loan saured by this Security
<br /> a._,h��....,� Instrument, Borcower shall pay the premiums required to maintain the mongage insurance in effat. If, for any reason, the
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<br /> _ .,, mongags insurance coverage required by I.ender lapses or ceases to be in effect,Borrower shall pay the premiums required to
<br /> �*��• obtain coverage substantially equivalent to the mortgage insuranee previously in effer:t, at a cost substantially equivalent to the
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<br /> ,;:-,l:x,�:�• � cost to Borrower of the mongage insurance previously in effect,•from an alternate mortgage insurer approved by Lender. If
<br /> '��,^+,�•-�^� substa�itially equivalent morcgage insurance coverage is not available,Borrower shall pay to Lender each m�nth a sum equal to
<br /> ' one-twelfth of the yearly mortgage insttrance premium being paid by Borrower whr.n the insurance wverage lapsed or ceased to
<br /> -- � be in effect, Lender will acccpt,use and retain these pnyments as a loss rescrve in licu of mongage insurance. Loss reservc
<br /> �Form 30�Q� 9/90
<br /> �•BHiNE)ie:iz�.os Pege 3 0l 6 i�u„i.:
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