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<br /> -__.�—_�._ S. �� �r ���, �..�� aa�� �5�! ��, iL�; imnmvemenu rmw er.istine or hereaRer erected on th� •sea �•_�
<br /> � , geap�rty insure�against toss by fire,hazErds included«rithia the term 'extended covenge° artd any other hazards, izcludi�g � �'_
<br /> • flaads or fleading,for wtuc�Leader res�uires insurance.T6is ins�ce s�all be maintaiaad in the acnounts an�far the pzriods �� �`.-
<br /> . � that L,eader requires.The iasuranc$carrier pro�tding ch�insurance shali be chosen by Borrower subJect co I.enfler's appmval � �
<br /> ' . •' �� , which sha�l not t��unreasoaably withheld. !f Sarrower fails to malntain coverage d�scrib�abave, L.ender may. at Lend,er's � __
<br /> , '. �• �. option,obtain ooverage co prntect l.ender's rights ia the Propeaty in srcordanse with OuagraFA 7. _
<br /> � All tnsurance policies and rea�ewals shall he acceptable to LendeP aud shail include a staa�ard mongage clause. Lender � �
<br /> , �� . � shall have the ri�ht to hold thQ policies and rene�vals. If Lender requires.Barrotiver shall pmmptly give to Lcti�der ail receipu af ___
<br /> _ __;,�� pa'sd paemiums a�d reaewal stoticcs. In the event of loss,Borrower shall gtve prompt notice to the iasutance carrier ar.d Lender. `_
<br /> . `,�—� - ; Lender may malse proof of loss if not madz prompdy by Soreovrer. . �;_;;
<br /> . -�"'-:° ISniess Lc�zder aad&orreswer athers��ise agree ia wcicing,insur�nc�procee�s shall he applied to restoration or repair of the �
<br /> :-� Property damaged,if ths restoration or mpair is economically feasible and Lender's securiry is not lessened. If the restoration or °
<br /> :_ ' rapair is aot economically 1Feasible or LQader's security�vovld be les�$aed, the iasumnse pmceeds shalt be applied to t�e sums
<br /> securztI by this Serurity Inssnuaen�whether or nat then due, with any excRSS paid w Borrower. if Borsower abaudon.c [he
<br /> �� Property,or dnes aot answes within 30 days a notice from Leader th2t the insuranc�e cazrier dzs offered eo stttle a claim, then -
<br /> ; � << � 1,Qad�r may coltea the insucance proceeds. Leader may use tha pms�ls to repair or restore the Progerty ur to pay sums
<br /> •• •• 3� �� securesl by thls Securiry Inztrument.whether or not then due.The 30-day pariod will tsegin when the notice is given.
<br />`�`f,'�"�"�' Unless Lender and Barrower othe�wise agree in writing, anY apPlication af proc�eeds to principal sha1D not extend or
<br /> pnstgone the due date of th:monthly papments referred to in paragraphs 1 and 2 or change thQ amount of the paysients. If _
<br /> - , uader paragtaph 21 the Praperty is acquired by Lender,�orrower's right to any insurance policies aad prooeads resvlting fmm
<br />- .,_�µ dantage to the Property prior to the acquisitian shall p2ss to I.ender to t�e exient of the sums secured by this Security instrument
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<br />-`�..•,��:� iminediatcly prior to the acquisidon.
<br /> ' �t" •• 6. Oocupaney, I'ec�ervation, Maintanaaee aad Protectla� of tke I�roperty, Basmwer's Luan Appllc�aifcn;
<br /> .. g.�sch�ids.Borrower shall aca:gy.establish,and use the Properry as Borrower's priacipal resideace wit�in ssixty days after the
<br />-_-_,' ` er.�ution of this Se�uity L*�..�uu�nt and shall continue w accv�y tlt�Prog�rry as Barro.t�er's principal msid�uus far at least one
<br />"�,►<i:�.-- ye�::after the date of occupa�y,anless L.e��fer oth�erwise agrees ia wrtin�.wtuch a�x..3 shall not be unr�o��y withheld,
<br /> ':;,.r,..::;,.; . or unless exteauating circumstances exist vaIuch are heyond Boirocvar`s o:��ol. Borrac:er shall unt desuo�,damage or imgair
<br />�� '" '�= " the Property.a].F.�a the properly tu deteriorate,or commit waste oa Li,:,.�t�;zerry.Boirower shall L-e in defaulE if any forfeinice
<br /> : ':.��: asa��ot pmcee�:n�,whet�er cxil or criminal,is isegun that in Len�::'s good faith j,udgment could result i1a forfeiture of ti:=
<br /> `"'�� � ph�..�rty or other�uise xnateri�FL_impair the lien created C.Y�r t�is Security lnstrumz�t or I.ender's seauity inter�t.Borrawer may
<br /> ::�?':'��'� cure such a default and reinstaia.as provided in paragr��T�t8,bY caus�g the action or proceedin�to he dismissed with a mling
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<br /> �_-"��~�" tvat, in Leader's gaod faith determinatiaa. preciudes forfeiwre of:;.�:e Banower's interest in the Pmperty or other material
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<br /> -�:;wlr, iqaairment of the Gen created by this SecurIry Instrument or Leuc?:-'s securiry interes� Borrower shall alsa be in default i
<br /> _�`�-``�_�� ?.,r,rt-:wer,during the loan��;:�:aiion pmcess,gave ma�P::;;�ly false or inaccurate information or statementa ta d�ader(or failed
<br /> --,=;�"�� �rsi t�r.;:vide l.eader with any�t�sial infonnation)in ca��an�vith th�loan evideased by the Note,utcludissII, tstst.sot limited
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<br /> �,::::?',�s ,.� . ��..:.��,���ga��ncern:�S�aower's occupaney of�1i�t!operty as a principal tesideuce.If this Securir�bn�smr=nt is on a
<br /> --'°:'�-1r- le�:ehold, G^m�v�,i:t sba]1 comp�Y with a11 the provisians of the .`.�iB�. If Bormwer acquires fee ritte to the ,�roperty. the
<br /> �'"-������. leasehold���m i�dtle shall noi merge u.r�I.ess Ixn�ier agazs ta t'�c���r in�vriting.
<br /> --- _-_= 7.Prat�tfian o!Lcader's Rsghts in 3�e?i+operly.Ef Eorru�-��f;-ula•ro perfom►the covenasL�.^.d agr�menu contain�i i�.
<br /> _ _,��_�;�� [Iz�;f S�urity Insuument,or there is a legal pz�ceeding�.:t may si�.�:�.ntly affect Lender's right�in a�te FcUperty(such as a
<br /> -- - proceeding ia ba�krUptcy.prabate.fot condemnation or forfeiture or tv enforce laws or re�ilations).then 3�nder may do and
<br /> t,_�;�;� pay for whatever is necessary to protect the value of the Property zL��ender's rip�u in the Progerty. Lcnder's actions may
<br /> ---- _— include paying any sums s�ur�d by a fi� �vhich has priority over this Security Instrument, �pearing in corM, paying
<br /> ___ ____ reasonable atcorusys'fees aad entering e�x'�:Property to make repair�.Althoubfi Leader may take action under this pazagraph
<br /> 7.Lender dces aot have w do so.
<br /> Any amounts disburred f�y Leader under this p�r:t^�aph 7 shall become `��tional debt of Borro�uer :t:+�red by this
<br /> Secariry Instrument.Unless L�.�mwer and Lender agree to other tera�of paym,.at, t'�PSe amouats shall Yieat inttrrst fivm the
<br /> date of disbursement at the Ndie cate �r� �aall be payable, wit� i�s:.:y*�e, upcm aotice from E�r�er t�&�rrower r+eqL�!?�,r
<br /> � payment. �
<br /> 8.1►tortgage Insurane�If Lender required mortgage insur�ace as a condition of making[he loan r.ecuir.d by tlus Sec�:�.�^
<br /> - - Instruraent, Boaoarer shall pay the premiums required co maintain the mortgage insutance in effect. If. far���reason, the
<br /> mortgage insurance coverage requieed by l.ender lapse�vr ceases to be in effect,Borrower shall pay¢he prem€SUns required to �
<br /> - -- obtain coverage subst2ntially equivalent to the mortgage insurance prevtously in effect.at a co�e s�lbtu�ntfally e�aivale�t to the ,.
<br /> �-:_:"--"-° oost co Borrower of the mongage insurance previously in effect. from an eltemate mongnge in�rer appreved by Lender. If
<br />_--_ -_____ s�;+astanciaiiy eqaivalenc mortgage insurance coverage is rr•z available. Borro�ves sh211 pay to Le�a�;.�r�h mn:s�f1.a sum equal to
<br /> _,_��„•:,_�; , ' cae-iwelfth of the yearly r•w�gage insurance premium i�r.i�;paid by Bfltrnwer wiiz�the insuransc coverage Ir;��.:sd or ceased to
<br /> � _- be ia effect.Lender will��e,use and retain these paym.ents as a ioss reserve in lieu of mnrtg�e ins.iraare. Loss reserve
<br /> - -= Fam 3028 9/90
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