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<br /> • •�� • • S. Htw.ard or P�+operty insurartce� Barrower shall keep the impravements now existing on c�reaftcr crected on thc - � -
<br /> ' Property insured aguinst loss by fire,hazardti inrludal within the term "extended cover�ge" und uny athcr huzurds, including " �
<br /> . . ' ilonds or floading,for which I.ender requires insurance.'!f'his in.urance�haU be mainttiinai in tt�e umounts and for the periods . ��-��=
<br /> ' tbat l.endcr requires. The insurunre cnrrier pmviding thc intiurancc rhall be chosen by Bonower subjcrt t��I.endcr's upproval '�_`
<br /> � � which shnll not be unreasanably withhcld. If Borrower fuilr to maintnin rnvcrage describcd abavc. l.cndcr may, ut Lender's �'�°'='�
<br /> ' ° option.ohtain coverage to pmtect Lender'+rights in the Pmperty in accordance with purugraph 7. _ T::".
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<br /> �.r . All insurance paticies and renewuls shatl be uccrptable ta I.ender and shull i�clude u titandard mongagr cluu�e. I.ender , •� ��
<br /> � � shall have the ri�ht to hold the pc�licies und rencwak.If I.ender requims. Bonower shuli pramptly give to Lcnder at!recciptx of y �
<br /> • paid pmmiums and renewsil notices. In the event of loss,Bormwer shall give prompt noticc to the insur.uice carrier and I.ender.
<br /> Lender may make proof of loss if not made pr�mptly by 8orrower. ''s:=
<br /> , Unless i..ender and Bonower otherwisc agrec in writing,insurance praceeds shull he applied to restoration ar repair of thc -
<br /> Property damaged,if the restoration or repair is econamically feusible and l.ertdcr's Socwriry is nos lessened.lf the mstoration or , _
<br /> " repair is not economically feasible or Lender's security would be lecsened, the insurdn.ce pmc�eds shall be applied to the sums .
<br /> secured by this Serurity Instrument, whether or not then due. with a�xy excx�s paid to k�o�rvwer. lf Bormwer abandons the , =
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<br /> Property.or does�zot�uwer within 30 days a natice fmm I.ender ttzat Qt�e insurancc rarr'rer tz�.s offered to settle a claim,then � ��,�_.�.
<br /> •, " Lec�der may coltert t4ze ic�surance procecds. Lcnder may e�sc the prcx�eds to reQair or restore ehe Property or to pay sums
<br /> . �' � : secured by this Securiey Instruciaent,whether or not then dae.The 3Q�lay pericxi will trrgin when the notice is given.. � � • ;�
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<br /> :�;">..'..'.°.•��.�� Untess b.eader and �orrower othernise ugree in writnc�g, any a�rpliratiun af praceeds to principal shall �tat extend or -.,.�,=�
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<br /> i,"��4�j�f'J;i��i;;.,' under��e t�ra�h zl the Pro e n�ns a'c u Ted b'Lender.8mravwer�'.ti�ei ht to'ann�in uran ednglic es and uracceds re u1 nenfrcrm � � �;,:'.-�._
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<br /> :;�y/�<< ;. dumage to the Pragerty prior tn the acquisition shall pass tv Lender to the extent of the sums securc�ci by this Security Instrumrmt . _.
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<br /> i�ttmediately prior to the acquisition. ' �������^ °=
<br /> • ;:.;,,��'.. 6.Occupaacy,Preser��a8iion,Maintenaace and Pmtection of the Property;Borrower's Loan Application;Leaseholds. '�': "-�'"!�"���t_
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<br /> � .,: �T•. Sonuwer shall accupy,establish,and use the Property ac Borrower'x principal residencr within sixry days after the execution of , ..;.z�
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<br /> �, �� this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after ••- �t•-
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<br /> �� - • �'!:�� the date of occupancy, unless Lender otherw•ise agrees in writing,which consent shall not be unreasonably withheid,ar unless „ ' - if� '
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<br /> '�� extenuating circumstances exist which aze beyond Botto�ver's control. Barrower shall not destroy, damage or impair the •F;`.;�::,�_:.' ,.,��---�
<br /> Property, allow the Property to deteriorate. or comrr�it�vaste on the Property. Borrower shall be in default if any forfeiture =%�:'��. •, � .��F"
<br /> � action or proceeding, whether civil or criminal,is begun chat in Lender's gaod faith judgment cauld result in forf�iture of the ' ' '? "� y�
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<br /> � _ _ , p�v,pr�y�r�rhPnvice materially impair the lien created hy this Securin• Instrument or l.ender's security interest.Borrower may _�. r,�. ,1;__
<br /> cure such a defAUlt und reinstace,as provided in paragraph 18,by causing the action or Qroreeding to be dismissed with a ruling ' '`��'��'
<br /> � �.. that, in [.ender's good faith determination, precludes fnrfeiture of the Borrower's intcre,t in the Property or other material {i`�t . ` e``
<br /> �:�":.•:�'; •• " impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if �;<;;�;.:;',.,, • ; ��
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<br /> .�.;��,: _, ,,;,, Bormwer,during the laan application prcxess,gave materially false or inaccurate infarmation or statements to I.ender(or failed + t- _ .�,.
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<br /> �.. - �� ,,;��i to provide L.ender with any material informaaion) in connection with the loan evidenred by the Nrne. including,but not limited . � ' ;` ��j,,.
<br /> �� [o,re resentations concernin Borrower's ocru anc of the Pro rt as� rinci al residence. If this Securit Instrument is on a ,�,�,. •. ;��"' ��_�•. �.
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<br /> ' leasehold. Bottower shall comply with all the provisions of the Ic;ise. If Borrower acyuires fee title to the Property. the , �c;,!.,:, �'o
<br /> ��'�%r Icusehold and the fee title shall not mer�e unless Lender agrees to the mcrgcr in writing. �� ; � �'.'
<br /> "''�' • 7.1'rotection of I.ender's Rights in the Propert�•.It'Borrowcr tails to perform the tovenants and agreements contained in �.�, , j%'�
<br /> this Security Instrument, or there is a legal proceeding that may signitirantly affect Lender's rights in the Prnperty (such as a ; {
<br /> praceeding in bankruptcy,probate, for condemnation or fortciture or to�nforce lawx or regulationsl. then Lender may do and
<br /> � pay for whatever is neces,ary to protect the value of the Property and l.ender's rightti in the Property. L.ender's actions may _ . '�..���'*,`•
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<br /> :'� ��: include a in an sums secured b a lien which ha� norit o��er thi� Securit In�trument, a arin in court, e in 1 f{.l � ' Pi
<br /> P Y g Y • Y C' Y Y PF�' � P'Y S •tiJ ;�'�-/r"� '
<br /> ''��'n.r'� reasonable attorne s fees and enterin on the Pr�� n t�� :^:,:I�� m•airs. Althou h Lender ma take artion under this ara ra h `����� i��. • ��
<br /> Y � F P� 3� a € Y P 8 P i '�,t,?, .;^%
<br /> •�:•)t� 7, L.ender does not have to do so. ' • '^.,:. . °
<br /> ;��.•ti�.;; Any amounts disbuned by t..ender under tlii� paracraph 7 st�a:d h�cc,mr adJ�^.con:�l debt of Borrow•er secureci by this f ...�i`_,,..;;::1,; :T:
<br /> �.;;� Securit y Instrument. Unless Born�w•rr and L.enJer a grec to other trrn1� ��f paymcne,che�e ar.���unts shall bear intere.t from the � ���;t.�'•
<br /> . '. �ee of disbursement at the Notc ratc :tixl shall be Fr;�}a!�i�. with intcrest, upon r.��*..�: Eear.: �.enJer to &u���wer requesting i �
<br /> ::;��. . pa,ment. �i -;r''•.
<br /> �::r•,.:. 8.M1tortgage Insurance. If Lendrr myuired nx�rtr;i��in+uranre a.a ronditi.m o: niakin,_:he 1��an secured by this Security : � ,., ••�::
<br /> ���;,," Instrument. ��rrower shall pay the premium�reyuireel tu maintain the mc�rtgage inxuranc� ir. :*i:rt. If. fur any reason, the R� :,•fy:;��� -
<br /> tnortgage insurance coverage reyuireJ by Lerxler lap,r,or rra�e+to he in effect. B���ra�w•cr�huii pay the premiumti required tv � � 1��~
<br /> a�iTtain coverage wb�tantially equivalent tu the monga_e in>urance pr��iumly in ef�c.'. �t u co�t wbst�ntially eyuivslent tc�the ��" •• �
<br /> -� onst to Borrow•er of the mortgage irr.uranrr previou.[. �•ie rffert. t'r<mi an alternatr m��rtgage in+urer•rpproveJ by I.ender. if � ��
<br /> substantiaUy equivalent mungage inwran.Y rr�rragr e.m•t a�ailrhlc.&�rcower.hall pa� tu I.endcr earh month a+um equal to � '�� ' • . '.
<br /> �., '
<br /> one-twelfth of the yearl}• mortgage inwrar,;� �+remiun�being paid b� B��rm��cr whrn thr in�urance coverage lap�eei�u reax.ti to • :
<br /> he in effect. Lendrr�cill:�crept,wr�nd retac n the•e{�s�nrrntti a, a lu., rc�en•e in lieu ot m��r._:r_•� inwranre. Lu�ti retiene '�� ;
<br /> ' Ga.rn 3028 9�90
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