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<br /> � � 5. Bazsrd or Property lasuraaoe. Borrower sUall kcep ths impmvemeuts aow exisring or hercaRer erected on the Z ,.:
<br /> , e' � �` ��• �P�41►���t toss-I+Y fue. hazards incladed withia the term'exoended coverage'ansl any other ha�r�,iacbd�S �=
<br /> a. ..:f,. � ;� �' tlaods or ftaodiag,fer whic�h Lsndec requitea insurance.This ins�amce shait 6e mainiained in the amou�s aad for the pedods � � <
<br /> `.- ,.4. g' that Lender tequires. 1he insurance carr�er ptoVidiag the ins�uaace shal!be chosen 1ry Bormwer subject to i.endet'S appms►al ;:<,`.._. , r "
<br /> ` " ±'�' arHicb shall not be unreasonabIy witbhetd. If Boirower fa�7s to maintain ooverage descn'bed abave,Leader maY. at Leader's r�' ;.`. .��
<br /> �,:: ` < -�: option.obra9n coverage w proteca Ixnaer's rights iu the Pmperty ia ascaniance with pasagaph 7. 1<�Q �ti y� ;.
<br /> �:_�.�'�-x--:---.� A}i insoTance poticies and r�+ais sI�sll be acceptab2e w I.eoder and shall include a staadard atortgage ciaase. Leader .Y.: --�;:.,
<br />=-�;:- °. '•'`.��� sha11 have the right to hotd dte pofici�aztd=euewats.If Imdes requires,Bormwer s6alt promPdS►givve to Leader all receipis o f �;::•;}; °�•
<br />- � .:,.';° paid ptemiums and renewal notices.In the e�rent of loss.Boirower shall give pmmpt norioe w the insarance carrier aad I.ender. �.�_ :,ti:�::k;:;.-�-.i
<br /> , `'c =- LEnder may make proaf af 2osc if�t made pro�ity by Borrower. ' 4 � �`"'- =
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<br /> ��= Uatess lxnda and Bormwer othecarise agree in writing,iasnrancx praoeeds shall be appGod to restoratian or repair of the - �
<br /> � _�:: �f the resto:at�on oi repair is eooaomicallY feas�3le and L�der's secu:icy is not tesseaed.If the rescaration or '� '�, :
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<br /> ProPertY damaged.� : �. �,�
<br /> �"` . � �'��f repair is aot economically feasble or I.ender's sea�rity would be l�seaed.the insarance pmceeds shall be appued to tlte snms �- . + �<_.:
<br /> -:, :.� sec�ued by tbis Se�auity tasu�. wi�ethet or not thea dee, arith an5►excess Paid w Bmmwer.if Barmwer abaudons the � �� 4 `�'=
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<br /> ,,<:-.�...... . ., ':.'� pioperry,or does aut aaswer within 30 days a notioe fmm Leader tLaz the instuance car�ier has offeced w scxde a ctaim�.then ,r � -
<br /> � "` �`. t= ,._��<�; Lender ma}r ooUect the insatanc�pmceeds. Ls�Wer may u,�e the pmc0eds to repair or reswre [fle Property or to pay sams �� �. t� a.�,
<br /> ,_ �` .` secuie�by this Security insuoment.whether or not then due.Tlie 3�-da9 Periad w�l beg�n whe�the notice is given- ��, �<
<br /> .�`�. ,"� ..`'4,...`' Untesg IEader and Bomnwer othenvise agcee �n v�ritm8. anY aPPli�on of prnceeds to principal shall not e�ueud or ° =
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<br /> ``; postp�ne We due date of the monthly paymeuts ieferred m ia parag�aphs 1 auA 2 or change the amo�mt of the payments. If �s �. ,Y �e,
<br /> - _ .`,� under paragraph 2t the Propeny is acqaired by Lender.Bosmwer's righc to any iastuance IIolicies aad prooeeds resWtmg fmm , � �' .`
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<br /> ` - �:; damage w the Progerty prior to the acqu"ssition shall pass w I.ender to the extent of the sums secured by this 5e�au�r lasnum�c x�.°
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<br /> . °� 6.prcuPaa¢9.pre5eivatton,Maint�ance and Ptoteetion oY the p►�operty;Bosrower'�I.oan AppHcation:I.easeh°lds.
<br /> •,:-�: Borrawer shaU oavpy,establish,sud use We Propeny as Bosrower's principal resideuce vvlthin sixty daYs aftet the euecudaa of
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<br />_ : :�.�;.:._< ,. ;�,=, this Serauiry lnsaameat and shall oontinue to occupy the Propecty as Bormwer's prfncipal resideace for az teact one year after _`,`;�;.,
<br /> �:1 `'� � � the date of accapaucy.uWesa Lender orhernLse agcees in writing,which oonseat sba}i not be�mreasoaably withheld.or untess s �
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<br /> _ .�, � ��,i extenuati�ci�a�tances exist which are beyond Bomawer's eontrol. Bonower shall wot d�stmy, d�dma8e or imFair the �-F.�.. ...:�-
<br /> ��`� aUaw the Pm to daeriorate.or commii waste on the Praperty. Borrower shall tre in defanit if aay forfeitare
<br /> ,ti_�'�':° . °t°';�`. actt�oa�or�praoaoding,whether civil or criminal is begua tLat ia Lcnder's gaod faith judgment could r�,sutt ia forfeitare af We '`` �Y=
<br /> �` �, �;; Property or othetwise materislly impalr the lien created by this Security�t ar I.aWer's se�rity interesc.Boimwer may : '��e 4 t�s.
<br /> `�,. ,.'�G ."'� care such a defauit and zeinstate,as provided in paragraph 18.by causin8 the action or pmceedia$to be dismissed arith a niling . _ _
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<br />;i,� . ; �.. .,.=.y t6at. in L.ender's�aod faith detemm�ation.Precludes forfeinue of the Borrower s inserest in the Property or otber material —
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<br /> �:`� � .;;°. impaicm�t of We lien create�iry this Securicy tnsunment or L,ender's seauriry inte�st. Bosrower shall aiso be in default if -
<br /> , � : . . �` Furrawer,during the loaa applic�tion pracesg,P,ave materlally false or iaacc�uate iafasmaz£on ar statemeuts to l.ender(or failed _
<br /> � " '� to pmvide Lender with aay matertal int'ormadon)in connectloa wittt ehe loan evidenced by the Note,iaclud�ng,Dut not limited =-
<br /> . �.,.�;;; .. to.rePreseatations wncemiag Bomower's occapaacY of the Propercy as a principal�esidence.If tbis SeauitY Insaumeat is oa a _�z;_:
<br /> • teasehold, Eorrower st�all �mpiy with all the prnvisions of the Irase. If Borrower acquires fee citle to the Property. the ��{ r�:_
<br /> .'�� teasehold and the fee title shaU not merge uateas 2.ender agrees w the merger in wrttiag• ��- �
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<br /> ,� . 7.Protectlon of Leadee's Rights ia 46e Ptoperty.If Bosrower faits to perform the coveaants aad agreeme�ats�� '. ��'�
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<br /> . �'-``•,, this Security Insorumea�or there is a legal piaceedIng that may significantly affect I.cnder's rights in the PmgertY(svrh as a `; �;;
<br />_ , pmceedtng in baatuuptcy,Probate.for condemaatioa or forfeItoie or to enforce laars or regalatinns),�►Lender maY d°and :,.. .,.t:__
<br /> . pay for whatever is necessa,ry to protect the vatue of the Piopeny aad l.ender's rights ia the Pcoperty.l.ender's aaions maY ��`�;:
<br /> inctude pa;Y�S�3+ � seeured bY a lieu which 6as prioriry over this So�uritS+ lastrument• aAPeafing in cu�ut, DayiaS _ _-
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<br /> 5`,�.. ' reasaaable attomeys'fee.s and cnteryng on the Froperiy to malce repaits.Alt�ough Lender may take actioa under Wis paraSmDb ' ':•:-;:_.,E
<br /> ' ' ?,Leader does not have to do so. ' '` ' � --
<br /> .�r . � . Any amouata disbwsed by L�ader uad�7 this paragraph 7 shall become additlanal debt of Borrower sewced by this - _-
<br /> ' �� Seatttty insaumeat.tfitess'�oirower aad Lender agzee to otDer terms of paymeut, these amonnta sfiaU bear iaterest frotn�he -.�' .;;;�
<br /> • ' ' date of dlsbarsement at�he 1Vote rate aad shall be payable. with iaterest,npon notice from L�des to Borrower reqaestiag �:.:,n: ...:� •x
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<br /> _>. ,r . • payment. � ,
<br /> - ..; .,��� � .' 8.Mortgage lasarence.I!l.ender required martgage iagivance a9 a candition of making the loan secured by th�s SuoritY
<br /> . �.:.+ .;�`"
<br /> ;�'.:+-:� co maintain the mon age inswance in effect. If. for aay reason, the . ,. .
<br />.�....: . Instrument. Borrawer shall pay the Ptemdums reqw� g .
<br /> , �• mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shaU pay t�e premiums req�ired to •„
<br /> :. :;•.:`�. • !�"� obtaio coverage substantially equivalent to the mortgage insurance previousll►!n effect,at a cost substantlally equivalwt to the . . , . .
<br />�a�:•',. .. cost to Borrower of the mortgage insurance previm�sly ia effect,irom aa alcemate mortgage insures approve�i by Lender• If �'�� : °_
<br />�.�.,. � �. '�.:,;.�. ,.
<br /> snbstaniially equivatent mortgage insuraace coverage�S not availab2e,Borrower shall pay to Lender eacb month a sum equal w . ,. .c
<br /> � one-tareliU of the yearty mortgage ia9urance premium being paid by Borrower when t�e insurance coverage lapsed or ceased to ;.:'�,`�.,'�:;''.
<br /> • ��. be in effect.Lender will accept,use and retai�►these paymenis as a loss reserve in lieu of mortgage insurance. Loss tesesve ' i
<br /> •�_t'i...' . Potm 3�28 9/90 .
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