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<br /> _ S. f�ezard o�i�b�sci�y insurnncc. 8orrower shutl keep tho improvcmcnts now e�iscing c�r hemafter ecected on tho
<br /> Propeny insured agah�st tusy by ilh, hc�wrde included wIthin tha tcrm "extended coverage"nnd any other huiards. inciuding
<br /> flaods or tlauding. for whish l.encicr requires insumnce. 11►ie insuranco shull bc muintufncd in tho umounta und for the perlods
<br /> tRat I.ender requires. 'fhe insaranw cnnier providing thcs irtsurance shull be chusen by Ba�rower subJect to Le�xler's npproval
<br /> which�hall not bc un►cnsanably wlthhcld. If Borrowcr failx to mnintuin rnveragc descrfbcd abuve. L.nder muy. at I.ender's
<br /> _ opt(on,abtnin covernga ta pratect LA;nder's rtghte in the Prope�ty in accardance with pnra�raph 7.
<br /> �-' -- =_ -- _ - --� A{I insurancc� pulicfcs ar�!rincwals sliult bc uccepiabte ta Lendcr and shatl inrlude c�stsrtdard mortguge clause. I.ender
<br /> shnll hnvc thc rlght to hold thn policic.v und rcnewuls.If I.encEer requires,Barrower shall promptly give to I.ender nll receipts of
<br /> psid premiums Und�enewat notices.In the event ot'latis,8orrower rhall give prompt notice ta the Intiurance carrier tmd L.ender.
<br /> Lcnder may mufca prooFof loss if not mude pmmptly b,y Horrawct.
<br /> = Unless I.ender und Sorcower otherwl�e agreo in writing. insurance proceeds ahaU be applied to r�storation or repair of the
<br /> Property dumnged, if the restorntion or repair is economtcully fwisiblu cuid I.ender's�ecuriry is not lessened.if the restoration or
<br /> - repair is not economtcally feasible or Gendcr's r+ecurity wauld bc lessened.the insurance procecxia sha�l be appliod to the sums �__.__
<br /> —� -- secured by this Security Instrument. whether or not then due,with stny excess paid ta Borrower. If Borrower abandons the
<br /> Property, or does noi answer wlthin 30 days u notice from Lender that the insurance carrier h�.s offered to settle a claim,then
<br />�`:� l.ender may cotlect the insurance proceecis. Lender may use the proce�ds ta repair or restore the Property or to pay sums
<br /> secural by this 5ecurity Instrument,whether or not then due.The 30-day periad will begin when the not�re is gtven. __
<br /> - Unless Lender and Borrower athenvise agree in wrfting, uny upplicution of procceds ta principal shall nat extend or
<br /> - postpone the due dnte of the monthly payments referred to in paragcaphs I and 2 ar chenge the amount of the payments. If
<br /> under parngraph 21 the Properry is acquire� by Lender, Eiorrawer's ri�ht to any insurnn�e policies euid proceeds r�suiting from �
<br /> demase to the Properry pdor to the acquisitIon shull pass to Lender to the extent of the sums secured by this Secudry Instrument
<br /> immediutely prior to tha acquisitian.
<br /> 6.Occupancy,Preservation,Maintenance and Protectton of the Propertyt Bc�rrower'R L.oan Applicatian;I.easeholds. __
<br /> 1Borrawer shall occupy,establish,and use the Property as Borrower's principril residence wIthin siaty days atter the executlon of
<br /> this Se�urity instrument und shall continue to occupy the Properry as Borrower's pr�ncipal restdence for at least one year after __
<br /> ths date of occupancy.unless I.ender otherwise usrees in wdting. which consent shall not be unmasonably withheld,or unless
<br /> extenuating circumstances eaist which ure beyand Barrower's controi. Sorrower shall not destroy, dumage ar fmpair the
<br /> Praperty, allow the Property to deteriorate. or commit waste on the Property. Borrower shell be in default if any forfetture �_
<br /> acdon or proceedtng. whether etvil or cr�minal, is be�un that In l.ender's good fAith judgment cauld result in fodeiture of die --_
<br /> 1; Property or atherwise materlally impair the tQen created by this Secudry Instrument ar l.ender's securiry i�terest.Barrower may �„=__
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<br /> - � '�ti.` cure such a detauit an�reinstate,as provided in parugcaph i8. by�:au�i�i�the uciian ar prxccdittg ta be dismis:.ea svfsh a rul�ssg �"
<br /> that, in I.ender's good faith determination, pm.�;ludes forfeiture of the Bonower's imcrcst in the Property or other material --—
<br /> �;: ` ' '{ , •�
<br /> . +�� : impairment of the lien created by this Securiry Instrument or Lender's security intercst. Borrower shaU also be in default if __
<br /> ' �`����{ ` `�d 8ocrower.durin�the loun application procesa,gave materially false ar inaccurnte information or statements to Lender(or fafled =-
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<br /> -� to provide I.ender wtth any material informatton)in connection wich the loen evidenced by the Note,inciuding.but not limited
<br /> . �� �'R'4.�, to.representations cuncerning Borrower's occupancy of the Propeny as a principal r�sidence.If this Securiry Instrument is on a __
<br /> �•-. ��'•.''.:'.
<br /> ��"r.�"�.." leasehold. $onower shall comply with all the provisions of the leuse. If Borrower acquims fee title to thc Praperty, the •
<br />" _q,�.;�},;,;,�y ;�:� leasehold and the fee tide shal!not merge untess Lender agmes to the merger in writing.
<br /> 7.Pmtection of I.ender's Righte in the Pmperty. If Borrower fails to perform the covenants and ugreements cantaineci in •
<br /> • ""!� ..��. this Securiry Instrument, or thete is u legal proceeding that may si�nificantly affect Lender's ri�hts in the Property Isuch as a • .
<br />= ptoceedin�in bankruptcy. probate.for condemnntion or fodeiture or to enforce law�or regulations),then L.ender muy do and
<br />�r pay for whatever is necessc�ry to protect the vulue of the Property und I..ender's ri�hts in the Property. Lender's 3cti�ns may
<br /> inelude payfng any sums secured by a lien which has priority over this Security [nstrument, appearing in court, paying
<br /> reasonable attornays' fces and entering on the Property to makc rcpairs. Aithough Lender may tuke uction under this puragraph ..
<br /> 7.Lender does not have to do so.
<br /> �� Any amounts disbursed by Lender under this paragraph 7 shall become udditional dcbt of Borrower secumd by this
<br /> E��:,��•H��?r.' Security Instrument. Unless Horrower and I.ender ugree to other terms of puyment, these umaunts shall beur interest from the
<br /> ,�� �.'`� '""�i�"" dute of disbursement at the Note rnte und shull be payablc. with interest, upon notice from L.ender to Bonawer requesting
<br />. � `rr3Ti.•°�'bF.:::�R�ns�T .,
<br /> r�:*r�,.;:,. payment.
<br /> ''`"�"""� 8.Mortgage Insuranee.If L.ender requirai mortgage insurance as a condition of makin�the loan secured by this Securiry
<br />_ ;'`':r . .
<br />`'�: • .• � Instrument, Borrower shali pay the premiums required to maintain the mortgage lnsurance in cffect. If. far uny reason, the
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<br /> , .}:;.;. �:,;;:� mortgege insurattce coverage required by Lender tapses or ceases to be in effert, Borrower xhuil pay the premiums required to
<br /> • "'.��E•.>'r%'�?. obUsin coverage substantial�ly equivalent to the mortguge insurnnce previonsty in effect. at a cost substantiuqy equivalent to the .
<br /> '' ��`�:�• cost to Borrower of the murtguge insurance previously in effect. from an ultarnate mortga�e insurer approved by [.ender. If
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<br /> ,_,;,,,°;,.��;� . _ substantially equivulent mortgage insurance covera�e is not availuble.Bormwer shall pay to Lender each month a sum equul to
<br /> "`�""•.�ti;•, one-twelfth of the yearly mortga�e insurance premium being puid by Borrower when the insarance coveruge lapsed or ceased to
<br /> �1�'"^�`"'• be in effect.Lender will uccept,use and retain these payments as a loss reserve in lieu nf mortga�e in�urance. Wss reserve
<br /> ��;� '• '
<br /> _ `'��.,,�.:,i ' Form 3088 9l80
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<br />= Page 3 ot 6
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