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<br /> . -;�.h ; �. S. �azard or 1'ropersy Insurance. Bormwer shali keep the impmvements aaw existing or hereafter erected on tho
<br />- ` - Prop�rty insured ngainst lass by fire. htizards include.d tvlthln cho tcrm "eztended covernge" and any other hazards, Inctuding ���:,,�,_.:-�._
<br /> �' � °� �-� �" floods or floodin�.for which i.ender requlres insurance. This insurance shnll be meintelned in the amount�and for the pedods
<br /> � "" ^ � '•'�'"� that I.ender requires.The inautence carrier providin�the insurance shull bc ehosen by Borrower subject to Lender's apFraval
<br /> ' .,r ' � � �'_` which shall not be unmasonably wlthheld. If Borrower faila to maintain cov+erase described above, Lender may. at I.ender's =--
<br /> '- ' ' �:�� � aption,obtain coverage to protect Lender's dghts in tha Property in accordan�with paragraph 7.
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<br /> � � All jnsurance policies and renewals shall be ucceptable to Lender and shatl include a stendard mortgage clause. I.ender --_
<br /> i , � shall have the rigbt to t►old tt�e policies and renewals. If Lcndcr rcquires.8orrowcr shall promptty glve to L.cnder ull receipts of �"'-'=- _-_ - -
<br /> ' t paid premiums end tenewal nottces.In the event of loss.Borrower shull give prompt notice to the insurance carrter and Lender. =� _ �
<br /> ; ° I.ender may make proof of loss if not made promptly by Borrower. ' �� _-
<br /> • Unless Lender and Borrower otherwlse agcee in w�3ting,lnsurance proceeds shall be applied to restoration or repalr of the �`y�.{��-
<br /> ; Property damaged.if the restoratIon or repatr is ecanomically feaslble and Lender's secnrity is not lessened. If the restoration or ' �`,���.-_
<br /> ," ' .. . • �� repair is not economlcally feasible or Lender's securlty would be lessened,the insurance proceeds shall be applied to the sums _ -
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<br /> gecured by this Secudty Instrumem, whether or not thcn due. with uny excess pafd to Borrower. If Bornower abandons the ;_.;,:.:_>
<br /> ' Property. ordoes not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a clalm,then ;:;;.;_�:,`.--
<br /> � L,ender may coliect thc lasurance proceeds. Lender may use the proce.eda to repair or restore the Property or to pay swns -
<br /> ;i " , " . secured by this Secudry Instrument,whether or not then due.The 30-day pedod will begln when the notjce is given. '
<br /> Unless Lender and Borrower otherwise agree in wrltins. any application af proceeds to principal shall not extend ar ;,� '•=
<br /> �� . postpone the due date of the monthly payments referred to in paragraphs 1 end 2 or change the amount of the payments. If �._�^
<br /> _:_ _ _ — ___ under paraaraph 21 the Progerty is acquired by Lender. Borrower's rIght ta any insuran�e policies and proceeds resultin�from �`=
<br /> � , .� damage to the Propert}r prior to the acquisitian shall pass to I.ender to the oxtent of the sutns secured by this Security Instrument -- ,
<br /> . immediately prior to the acquisition. � :�
<br /> 6.Occupancy,P�+eservation,Maintenance and Protectton oP the Property;Borrower's Loan Application= I.easeholdg. '�°��
<br /> ' Borrower shall occupy,estabifsh, and use the Property as Borrower's principal residence within sixty days after the execution of _�_`_-=
<br /> - this Ser.urity Instrument and shall continue to occupy the Property as Borrower's principal resIdence for at least one year after , ;� r,�
<br /> the date of occupancy,unless L.ender otherwise agrees in writing,which consent shell not be unreasonably withheld.or unless ��
<br /> � extenuattng circumstances exist which are beyond Bonower's control. Bonower shall not destroy. damage or impalr the '��'��"
<br /> Prc►perty. allow the Property to deteriorate. or commlt wastc on the Property. Borrower shaU be in default if any forfeiture � A=��•
<br /> . action or praceeding,whether civil or criminal, is begun that in Lender's good faith jud�ment could result in forfeiture of the ;-,,�r°'
<br /> Property or otherwise materially Iinpair the lien created by this Secur�ty Instrument or Lender's security intemst. Borrower may `
<br /> cure�uch a default and reinstete.as pmvidecl in narnprnnh 1 R.hv causinr the action or proceedin�ta be dtsmissed with a ntl�nR _,Y�?�.-
<br /> - -' that, in Lender's good faiih determination, preciudes forFeiture of ehe &�rrnwer's interest in ihe Fropcdy or uihcr material � :�y.,�,�,��T
<br /> impairment of the lien crented by this Securiry instrument or Lender's security interest. Borrower shall also be in default if ';.s'`��=-
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<br /> Bonower.during the loan applicatian process,gave materially f�lse or ineccurate information or statements to Lcsnder(or failed .`'�'`'� ''
<br /> to provide Lcnder with any material information)in connection with the loan evidenced by the Note,includin�.but not limited �� ''°
<br /> to,representations concernin�Borrower's occepancy of the Property as a principal residence. If this Security Instrument is on a ,'';;
<br /> leasehold. Borrower shall comply with all the provisions of the lease. If Borrower acquirec fee tttle to the Property, the , .
<br /> lcasehold and the fee title shall not merge unless Lender agrees to thc merger in writing.
<br /> 7.Proteetion oF I.ender's RighGs in the Property.If Borrower fails to perform the covenants and agreements contained in ;���
<br /> this Security Instrument, or there is a le�al proceeding that may significantly affect Lender's tights in the Ptaperty (such as a
<br /> • proceedin�in bankruptcy,probate,tor condemnation or forfeiture or to enforce laws or regulations), then Lender may do and �
<br /> puy for whatever is aecessary to protect the vuluc of the Prapeny and Lender's rights in the Property. I.ender's actions may � s
<br /> inctude payin� uny sumti secured by a lien which hati priority ovcr this Scrurity lnstrument, appearing in court, payins •,_ ,,h, -
<br /> reasonuble attarne s'fees and enterin on the Pro rt to make re airti. Althau h l.ender ma take uction under this aTa Ta h ''''r-�
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<br /> 7,L.ender does not have to do so. •
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<br /> IAny a►nounts disburced by Lender under this parugraph 7 tihall heromc additiunai dc6c of Aorrowcr secured by this • .� ,
<br /> Securiry Instrument. Unless Borrower and L.ender ugree to ather ternn c�f payment,the,e amounts shall bear interest from the � •,
<br /> � date of disbursement at the Note rate and shali lx payable, with interest. up��n nntice fmm L.ender ta Borrower requesting , ,. ,
<br /> payment.
<br /> I 8.Mort�age Insurance.lf Lcndcr requircd mortg:�ge imuranre a�a�onJitiun uf making the loan tierured by this Security i
<br /> I Instrumcnt. Borrower tihall pay the premium� reyuircd to maintain the mi�ngagc inrurance in effect. If, for any mason, the �
<br /> mort�aFe insuranrc cnverage requireJ by I.ender lap�c�c�r rca.c.to hc in cffirt. BnrroN•cr.hall pay thc premiums rcquired to
<br /> obtain coverage substantially equivalent to the mongage in,urance previcw�ly in rffect,at a ro�t tiub,tantially equivalent to the
<br /> cost to Bonower of the mnrtgage intiurancr previously in effect, fr��m an ultern:�te �txmgage in.urer approved by L.ender. If
<br /> substrntially eyuivalcnt mortFagc inwranm co�•erage i�nat a�•uilablr.Burrowcr,hall pay� to L,end�r cach month a wm equal to
<br /> one-twelfth of the ycarly mortgagc in�urancc prctnium lxin�puiJ by Borroacr w�hen thc insuranre covcragc lap�cd or ceased to
<br /> be in effect.LenJer will accept,u,e and retain�hc.e payment.a� a Ic�+ti re�rnr in lieu �if mortg;�ge in�urance. Lo�.r re�erve
<br /> Form 3028 9/90
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