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<br /> '� -� 5. Harard or Froperty 1�nsurance. Bormwer sLafi �ep t6e improvements r�w exiscing or t�eresfter erecte� on the ' :`� _
<br /> � '` t psopeny insur$d ngainst toss 6y 5re, hamrds inciuded within the term "extende�ooveiage"and any�er hazards.including � ;;k � ` �.:
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<br /> -- - : ` . � ,�, ftoods or tloodin g.for which iznder rec�uires incurance.This insu:auce shall be maintained in the suwunts and for the periods ,� z : ',
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<br /> �;F�:•.`;:.:.' -�::� E-.;_�� that Ixnder�quires.The instuaace cazrier pmvidittg the i�u:ance shall be chosen by Sorrower subjeet to L en der's approv a l � a s_�:;`•'i;�,�;-
<br /> . �'� ,;:� which shal!not be�reasomebly withheld. If Borrower fails to maintain coverage descri6ed above, Lender may.at I.ender s � •=: ` `' -
<br /> �- ` '� ogtion.obtaiu coveragc to pmtect Ixnder s c�ighu in We Property in accondance with pazag►aph 7. � ,"s' `
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<br /> � �,,4.�_° ' �` All insuianoe policies and renewals shnll be acceptable to I.cader and shaU inctude a standard mortgage cla�se. Lender � � '.
<br /> Y" shall have the right to hoW the pflliaes and renewais.ff Lender iequires.Borrower shall prompdy gitie to 1.ender aU rec�ipts of ``^�
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<br /> $4:..;- �_ .:; ,�. _ Qaid gremiums and ienewal notices.in the event of loss.Borro�ver shall give prom{�t notice to the insvrance carrier and Lender. � t
<br /> �=--"" . Lender may make proof of loss if not made pmmptly by Borrower_ `� � ,
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<br /> ,-�- �= - - Unless[xnder and Sortower othenvise agn�in writing.insurance procceds shall be applied to restoration or repair of the � . �. �
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<br />�;�;• .;=���.; ��::�-;::�. property damaged.if the reswratian or repair is economically feasible and�.ender's security is not lessened.If the reswrarion or ra;:,,.� :y:�:::�
<br /> �"'' '.` ``:=• :==' repair is not ecbnomically feasble or Lender's seauity would be fessened.the insutance proceeds sha11 be applied to t6e snaoss •`.;:�..�-�:::
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<br />��`�`_- - `.-�` secured by tkis Security Insuurneat, wUether or not then due. with arry excess paid to Bomower. If Borrower abandons the .;t�-: --
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<br /> � T ° L.� Property.or dces not answer within 30 days a notice from Lender that ttie insurance carrier has offered to seute a daim.then " " �""``�
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<br /> �'- Lender may collect the'snsurance Lender may use the proceeds to rep�air or restone the Property or w Qay swns ,� '
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<br /> �;��' _ .��,f', secured by this Security Inst►vment.w6ether or not then due.The 30-day period wi11 begin when the notice is giveo. , 4 ;� .
<br /> � - � - ltntess l.ender and Barrower otherwise agree in wriring, any appHption of proceeds to principal sha1� not extend or 'uY.",h�'±!`'::
<br /> �''� _ .4-� ��' postpone the due date of the rnonthly paymenu referre�l to in paragapbs 1 and 2 or chaage the amount of the paymerus. If :�, � � ���
<br /> '�' ` under paragraph 21 the Propecty is aequired by Lender,Borroaer s right to airy insurance policies and proceeds resvlting from " _
<br /> � `= G` Y i;� damage to the Progerty prior to the acquisition shaq pass to Lender to the extent of the svms secured by this Security Insuument �_
<br /> �4 `' :` , k ; immediately prior to the acquisition. ^-°`�� 5 . '
<br /> � .:• ,.r ,� 6.O�apancy,Preservation,Ma#ntenauce and Protecttou of the Property;Borrower's I.uan AppUcation;i.easehotds. � �* � �-`
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<br /> �` ' Borrower shall occupy.establisl�.and use the Property as Borrower's principal residence within sixty days atter the execution of ��j � F��
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<br /> :�_�� :'. .'�"4r�r;� this Security Inswment and shall continne to occupy We Praperty as Borrovver s principal cesidence for at least oce year after "�° .f. ..��.'� =
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<br /> • � the date of oavpancy.unless Lender otherwise agreEs in writing.which consent shall not be unreasonabiy withhetd.or ualess .. :r .`..`� �
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<br /> _ extenuating circumstancea exist which are bey�nd Borrower's canuol. Borrower shall aot destroy. damage ar impair the
<br /> s `"�.-�-;: .�---�� Property. altow the Property to detesiorate.or co�it waste on the Property. Borrower shall be in defauh if any forfeiture ' _�
<br /> � � .��,�.Y� action or proc�etiing,�vhether civi!ar criminal,is begun that in Lender;gaod faitb judgment coald result in forfeit�ue of the �� f ��';
<br /> • � Pcopetty or othenvise materialty impair the lien created by this Security Instrumeat or Lender s security intetest. Borrowet may ��,,;;�_
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<br /> `. ;f,,.: �� � �',:,:��..';.:' cure suc6 a defauli and reinst.,�e.as pmvided in P�S�Ph I8. by causing[he adion or proceediag w be dismissed with a ruling ::��-r.-.;-_:_.
<br /> ` +>•� ��� that. in Lender's goad fafch detemunarion, prectudes forfeituze of the Borrower's interest in the Property or other material. `..-
<br /> � �'�`� '� ` �. ��'�''• impairment of the lien create� by this Secunty Instrument or Lendet's secvriry int�. Borrower sha11 also be in defauIt if , �—'-"
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<br /> -;;tr�;> ,�' •',,;� `. '. Borrower,during the lo�n applicasion process.gave materially false or inaccurate inforn�ation or statements to Lender(or failed ` `� ="r?`
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<br /> � '- .t ' to provide L.ender with any material information)in connection with the laan evidenced by the Plote,including,but not limited �' Y `; :
<br /> ��- 'y to,r reseniarions concernin Borrower s occu of the Pro e as a rinci al residence.If tLis 5ecuri Instrument is on a ��' � x -.
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<br /> -� :��.� , !;: leasehold. Horrawer shall comply with aU the provisions of the lrase. If Borrower acquires fee tide to the Praperty. the � ' S�-
<br /> � � �' �t' - leasehold and the fee title shall nat merge unless Lender agrees to the merger in writing. , ` �' +»
<br />� k �-�,, •' ` . ,:.-,;'; T.ProtOCtEon ot Lertder's[tlghts in t6e Property.if Borrower fails to perfortn the covenants and agmcments wntuined io .. •':.• ,',
<br /> ,��,. � .�;.,` this Security Instrument. or there is a tegal proceeding that may significantly affect l.ender's rights in the Praperty(such as a - .�:�.`
<br /> � ° pmceedi»g in bankruptcy,probate. for condemnation or forfeiture or to enforce laws or reguladons). then Lender may do and '''`. ;�' � :
<br /> _��:-..:_ ;.. ' p a y for whatever is necessary to protect the valae of the Property and l.ender's rights in the Property. lznder's actions may ,
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<br /> �,`:S include paying any sums secured by a lien �vhich has priority over this Securiry Instrument. appearing in court, payiug �. ..-�`,
<br /> • reasonable attomeys'fees and entering on the Property to make repairs.Although Lender may talce action undes this para�aph . , , ,:;: '•,��4
<br /> �:• . . ,- �:"� 7.Lender does not have to do so. • • �-�':�,'
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<br /> -.� ..... � • Any amounLs disbursed by Lendu under this paragraph 7 shall became additional debt of Bormwer secured by ttds - -- �•�;;:
<br /> �•� {��`. •�'••..`�� �'; � Security Instrument. Unless Bonower end Lender agree to other terms of payment,thesc amount�shall beae interest from the ; �""�_-
<br /> .��f� �.' � � date of disbursement at the Note rate artd shall be payable. with interest, upon notice from ixnder to Borcower requesting �
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<br /> - =� �... ;:�, :?,•: .:: payment. . .
<br /> 'F?- . • '`" 8.Mortgage Ituurance. If Lender requimd mortga;e insurance as a condition of making the loan secured by this Security . .:
<br /> `;�t:� ._: ' • :' Instrument, Borrower shall pay the premiums required to maintaia the mortgage insnrance in effect. If, far any reason. the ••.'�,;. :�
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<br /> ; : „ , ,. , . mongage insurance coveruge required by l.ender lapses or ceases to be in effect.Borrower shall pay ehe premiurtu required to �•
<br /> :�'��:'` '-�• � �� �� abtain covera e substantiall uivalent to the mort e insurance• reviousl m effect.at a eost substantiall walent to the '•�: •,`. . `''
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<br /> --`d case to Borrotiver of thc mong�ge insurance previously in effect. from an a{ternate mortgage ins�rrer apptoved by Lender. lf _
<br /> `.�'�';�.`.. �. ' �` substanti:illy equivalem mortgage insurance coveruge is not availablo. Borro�ver shaU pay to Lender each month a sum equai to �
<br /> �"�`��� � � �. one-twelfth of the yearly mort�,age insur.�ncc premium being paid by Borrmvcr when tfic insurance coverage lapsed or ceased to . '��'°� ''
<br /> ;�': .: . .
<br /> ,.�• . � • � � ` be in effect. Lender will accept,use and retain these payments as a I�s reserve in lieu af mortgage insuranee. Loss reserve . :" ,
<br /> . S Form 3028 9J90 ' .
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