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<br /> 4 ` � 5. Hapard or Hvpeuly'I�urance. Bucrower shaU keep the imgmvemenu now eusting or hereaRer erected on the r�e :r r` ^
<br /> " :'t< ` `�-� insaied a toss by fire.ha�rds iacl u d e d w i t h i n t he term 'extended cave r a ge'�d any other ha7ards,jncladin8 ---:�_-- b`� :`:
<br /> u.. ._ Pr°PertY �ins� .',.s:.; .•� t
<br /> , ;-t� --:rc flaods or flooding.for wLich Leoder m4ui�es�saranee.This insuransx shall be maintained in the amounts and for the periods �: .,,14.`_,:`�-'
<br /> �:r- that Leadet tequires. The insutance cucier pmviding the insoranoe shaU be chosen by Boaower sub}ect to Leodei s approval r '� z�
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<br /> avhich shall nat be�soaably svithheld.If Borrower fails to maintain ooverage descnbed above. Lender may. at I.�der's �.,�.,,.x,�:=,_.•`•�r`.�.:
<br /> :x� option.obtain wvecage to pmtect Lender's rlghts in the PropertY in a000rdanc�e witls pa�agraph 7. ' : 1 -:"
<br /> ti•. �:'`. -: �.,���- All ins�uasss�e policies and maewals shall be aeceptabte to I�eader and shall ia+ctede a staadatd mortgage clanse. leuder -
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<br /> " �;`, shall have the right to hold the policies and zeuewaLs.if Lender reqwres,Borrower sLall promptly give to Lender all receipts of �".�r'`��_; .
<br /> F t notice to the ins�rance carri�and Ixnder. '"` `�',',.`,: :-
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<br /> . •. . °. paid premiums aad renearal notices. In the eveat of loss.Borrower shaU give promP _r�T_'.,.=�
<br /> °° � ,:' L e n der may t a�p r a o f o f l c�ss i f a o t m a d e p r o m p t i y h y B o r r o w e r. • < � , �� f, •
<br /> � IJnless I�der and Bonowea otherwise agree in writin8.ins�ua�ue Praceeds shall be applied w restoration or ieQair of the � ;
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<br /> ..;;�_�=, p�opetty damaged,if the reswratIon or r�air is econom'scalty feas�3le and Lender's se�vrity is aot lesseaed. if the reswration or . } �,��f z 2 :
<br /> ,, �`�- repair is not economipUy feass'bte or Lender's sec�aity wonW be lesseaed.the imisuranoe PmceecLs shall be appiied to the sums � ` . _�
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<br /> `;� s�by this Seauity �t,abether or ant then dae. arith any excess paid w Borrower. If Boriawer abaadons the - `• „ : -
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<br /> •' property.or dnes not answer arittin 30 daya a aotice from I.euder that the iasuranoe c�ier has offeced w setde a ckwn,then t r `-F,` � .
<br /> ` �s Imder raap coltest the iasuranse Pmce�s: Lender may use the proceeds to repair o: restore the PmpenY or w pay soms : :�`_:r_. :., :'
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<br /> ' . =• s sec�yred tyy this Sect�rity tasunmmt,whether or not then dne.The 3U�day periad wiU begin when the nouce is given. = ,;
<br /> 4� � : '�� Unless 18nder and Borrower otherwise agree in writing, any a�plication of proceeds to priacipal shall not e�uend or 'y� '� •�
<br /> � , �4. p�stpnne the due date of the monthlY Paymeats refer�d t°t°para�hs 1 uW 2 or change the amouat of the payments. If ,
<br /> �mder paragraph 21 the Praperty is acqused by Lender,Borrower's right w aay ia�auaace polici�s and proceeds resultinS from �`}� T::'
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<br />_ ' =�.�� damage to the Pmperty prior to the acquisition shaU pass w I.eader w the eactent of the sums seaued by this Security Iaswment Y-r,. ;� .;��_.
<br /> - K`:� immedtatety prior w the acguisition. 1 ` �
<br /> 6.OccaPaacY+Pr���►Maiatwaace and Proteclion of the Property:Bomawa's I.oan A{r���Lea4e6olds. �. _ �
<br /> . �-�•'� Borrow�shall occupy,establish,and use the Property as Bottower's principal tesidence within sixtY days after the exe�uaun of � ' t�%
<br /> ' ' � this Sec�Fry Insuwneat aad shall contiaue to occ�y the Property as Borrower's pru►c�Pat resideace for at least one year after � :• �, ,95..
<br /> ` the date of accupanc�►.unlesa Lender otherwise ag�es in writing,whicl�consent shall not be�mreasonably withhetd, or anless :���
<br /> �.'g extenuanmg cira�mstances exist which ate beyond Bormwer's control. Barmwer shali not desuoy, damage or impais [�e � _=
<br /> �,��: Property. altow the Pr �+e�ry to detectnrate, or aommit waste oa the Propeny. Bonower shaU be m ctefault if any forfeimre 4, �r ., �"';�
<br /> . . _° °,��. acttoa or pioceed�ag,auether civil or crimina�. is begua that ia l.euder's good faith judgaent coWd re.s�lt ia forfeituie of the :_,. �r.�:
<br /> �..'���`• P m p e rt y or otherwise macaiaUy imPair�he lien c�eated by ihis Seauity�usccuman or Lender's securlty i�ecese. Bomnwer may , ,���,• :�
<br /> �''--'• h 18.by c�u s i n g t he actioa or pm ce e d i a g w b e d i s m i s s e d w i t h a m i i u g ! �� :.';}�� �:
<br /> �,: : aue such a defaalt and reinstate.as Provided in paragrap -
<br /> , � that, in I.endes's good faith determiffition. pr�lud�forfeitu�of the Borrowe�'8� ���P�Y or ot�er materjal `�.;.y,; -°._'��:_
<br /> � ` s;� impairment of tbe lien created by tbLg Secoriry Ins�rument or Lendet's se�uriry interest.Bornnwer shall also be ia defauit if :<- =-
<br /> .� '". � 8ormwer.durin g the loan application process,gave materiallY false or inaccurate infa�on or statements m i,ender(or failed f ' `'., �__-
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<br /> , to provide l.ender with aay mataial informatioa)in connecaon w h h t h e loan evi den c e d by t h e N o t e.i n c l u d i n g,b u t n o t l i m i t e d . ;�`��!�_
<br /> `� . ' ,r.�;:, w�representationa cancemiag Borrower's oc�cupancy of the Property as a priacipal nesicieace.If thia Secusiry Instn�ment is on a ;,,..:},:��
<br /> ,�• - leaseho2d, Horrower shall oomply ahh ali the provisions of the lease. If Boaower acquites fee tiQe ta che Pmpe(ty, the �- '�`
<br /> , f; -;; teasehold and the fee tide sball not merge nnless l�ender agrees w the merger in writing. ' � �''�'
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<br /> - � ,. ,� 7.Protecdon o4 Lender's Rig6ta ta t6e Property.If Borrov�er faila to perfora�the covenants and agreementa oonta�in ; ��_
<br /> � mceeding that rbay signiScantly affect l.ender's rig6ts in the Ymperty(such as a . ,.'•, �,-
<br />:i � � i :'-: t6is Secutiry Instrumeat,or there is a tegal p -_•;.,�,�:
<br /> • . . proc,eeding ia ban�raptcy,pmbate,for condemnation or forfeit�ue or to euforce laws or ngnlat�ons).th�Leader taay do and _ :.:L,�_.-_�
<br /> pay for whatever is necessary to pmtect the value of the Property and Leader's rights in the Property l,ender's ac�ivas map „irg�'
<br /> an sums secured by a lien whick bas priority aver this Seauity Insuumeut, aPPearing in c�art, Paying � _ .$�
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<br /> ,c. reasonable attomeys'fee.s aad enteria8 on the Property[o make repairs.Although Lender may take astion under this paragraPh � j' ��-
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<br /> ; ,. - . -- 7,1.ender daes aot have to do so. ,:�`.� _-
<br /> ' Any amouats disbursed by Leader�mder Wis patagrapL 7 shall b�me addltional debt of Bosrower seaued Dl+ this ,'.�
<br /> `' Seauiry Iasuamen� UNess Borrower aad Lender agree w�her tera�s of payment,these amomita shal!bear iaterest from the ,�:
<br /> . /'�-`�� date of dlsbursement at the Note ratc and shaU be payable. with interest, upon aotice irom I.ender w Borrower reqaesting -
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<br />§.'t �' ;,�, �' ;;�`.�"`' pa�8.Mortgage Iasuranse.It Lender required moztgage tnsurauce as a�condition of ma]dng the toaa seaued by this Security �,. , �."'
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<br /> -•� . �" Instmment. Borrower shall pay the psemiums required to maintain the mortgage ias�rance in effect. lf, for any s�on, the : �. ;:�-.,,,
<br />����� . .. ' ��::�t• mortgage lnsurance coverage required by Lender lapses or ceasea to be in effect.Bomower shall pay the premiums reqniied to ' ..,...,-
<br /> :f•� abtain ooverage substantially equivalent to the mortgage insorance previously in eNed. at a cast substantially equtvalent to the `�':1�.•::�:..
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<br /> , ,, � toat to Bmmwer of the mortgage insurance previously in effect. from aa alternaze mortgaSe insurer agproved by Lender. If
<br /> � .:..i� substantiatty equivatent xaortgage insuraace coverage is not available.Borrower shaU pay to Lender each month a sum eqnal tu . .- - --
<br />�`;; • • � one-twelfth of the yearly mortgage ins�rance premiaan being paid by Boaower whea the insuraace coverage Iapsed or ceased to
<br /> � ' be iu eNect.Lend�er ari11 accept.use and retain these payments ag a loss reserve in lieu of mortgage insurance. Loss reserve .
<br /> �`�' • , Form 3028 9/90 .
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