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<br /> - � �. Hnzt�rd or 6'ro�►er�y Insurmtcti. f3on�oEVer shnll kcep Uie improvcments now cxisting nr hereatic:r erccted on thc t^
<br />'"'"�rr;':_°`;;;;� ' f'ropcny insurcd a�ninst loss by firc, huiairds inchicicd within die term "extcndcd covcragc" anJ any uther har�rJs, including
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<br /> — �� ``"`''`� flaoils or ilundin�, for which Lcndcr requires ins�urancc. Tr�is insurance sh.dl hc muintnincd in the umounts and for the periods ,�
<br /> •=-=__n��x:: �- that Lcudcr requires. Thc in�surnncc curricr pruviding ti�c insuruncc sNaU hc choscn by�i�rrowcr subjcct to i.cndcr's approvll __
<br /> -' _�.,;.�+:.Rwt�e�% y�'!=
<br /> �!*°•° c�~� wh�ch sl►�II not bc unrcasonubly witl�hcld. If Aorrc�wcr f.iils tu maintlin coveeugc dcscribul ubovc, Lcndcr may, a� Lcndcr's
<br /> ��;, �, ;�: optiun,ubtuin cuverage tu prutect I.cndcr's righi+ in dic Prup.:�ty in accordance tivith parafiraph 7. �.
<br /> :y.dl;:r��'� — --
<br /> , �"- All insurancc policics .�nd rencwuls shall bc ucccptublc to I..r.ndcr and shall includc u standard mortga�c clnuse. l,endcr
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<br /> ` shnll have thc right w huld thu pi�licies and renewals. if l.ender requires,Borrower shall promptly give to I.e�tder all �eccipis of
<br /> _' � , ,"'.a=�:��� pald premiums und renewnl noticcs. [n thc evcnt of lass.8orrowcr shall givc prampt noticc to tl�c insurance curricr and l.e:ndcr.
<br /> ;#. ,° ' ' '` Lcndcr may mnk�praof of loss if��ot madc promptly hy Bormwcr. _•;;��
<br /> '`" _.. ' .._ Un►rss I.ender and Bnrro�ver otherwise agree in tivriting. in��uranee proceeds shal! be upplied to restonticsn or repair of'the
<br /> •� .• * Pmperty damage�,if the resturatiun or repair is eco��omic111y fcasible and Lender's tiecurity is not lessened. !f the restoration or
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<br /> � ' . repi►ir is not ccanomicnlly fc;nsible ar l.cnder's security�vould be Icssencd, thc insumncc proceeds shall bc applicd to the sums =�'__.
<br /> . ^ : ' securc:i by tl�is Ceeurity Instrument, whether nr nnt then due, with any eaeess paid to Dorro�ver. If Borcower abnndons the �i*�—
<br /> ��'.:." . ' . ' Property, or does nat answcr within 30 days a noiice from Lcndcr that tlie insurancc carricr hus otifcrcd to sctde n claim, then �%+-`j
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<br /> "��:�,:��. '� . , . I.endcr n�ny collcct thc insurancc prs�ceeds. l.ender may use thc procccds ro repair or restorc thc Property or to pay sums r.-
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<br /> =,�r.;;•.•�'.',:�,�K'�.;,'.'.• sccurcd by this Socurity Instrumcnt,whcthcr or not then duc.Thc 30-ciny periad will begin when thc notice is�ivcn. —`:�,
<br /> �.:;�.•'...:�'-=e�' �, . Unless Lendcr und Rorrower othcrwise nsrce in �vriting, any application of procecds to principal shall not extend c�r ,.--
<br /> i- � � •� postponc the duc datc oi the monthly puymcnts rcferrecl to in paragraphs I and 2 or change thc amount of the paymcnts. If , }
<br /> -� � ' un der parngrap h 2 1 t h e P r a p e r t y i s a c q u i r c d b y L e n d e r, 9 o r r a w e r's r i g h t t o a n y i n s u r.�n c e p o l i c i e s a n d p r o c a:d s r e s u l t i n g f ro m "�_
<br /> .�.''�•s .'^ ., damage to the Property prior to the acquisition shall pass to L.ender to the extent of the sums+ecured by this Security Instrument `
<br /> -���'=-•� immcdiately prior to the acquisition.
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<br /> � 6.Octupancy, Prescrvutton, Muintcuance s�nei ProtecNon of the Pr�pr.rty;Borrowcr's I.o�n Applicntlon;I.euseholds. -
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<br />-.t= •��n���:,,�',;: Borro�ver shall occupy,estnblish. �nd use the Property as Iiorrower's principal residence within sixty duys after the execution of �.,.:'_'
<br /> .'.;�, this Securiry Instrument and shall continuc to occupy the Pruperty as Borrower'�principal residence for at least one ycar after � �
<br />�`��{.`'�� " thc date of occupancy,unlcss I.cndcr othcrNisc agrecs in writing, which consent shall not be unrcasonably withhcld, or unless -
<br /> :° "'.� ' �•.•�� • extenuating circumstances exist �vhich arc be��ond Borro�vcr's control. Borrowcr shall not dcstroy, dnmagc or impair thc ��
<br /> �� � ; Property, allow tlic Property to detcrioratr., or coinmit waste on thc Property. Horrowcr shall bc in default if any forfeiture �.�
<br /> - ! ., action or�roceeding, whethcr civil or criminal,is bcgun that in L.ender's good faith jvJ�rnent could re�e�lt in fi�rfeiture of thc -n
<br /> , �r�`•� Property ar othenvise materially impair the lien creau:d by tn�s �ecurity instn�ment or i.enucr's security inier�u. nomower muy �--
<br /> �� �, � �'' • cure such u default nnd reinstate,as provide.�i in paragraptt I S, by causing the action or proceeding ro he€fismissed�vith a ruling =:;-
<br /> "' . that, in Lender's good faith determination, prccludcs forfciturc of the Borrowcr's intcrest in thc Property or other material -_
<br /> -' �:�,�.,,. impairmcnt of thc licn crcated by this Security instrununt or Lender's security intcrest. Borro�ecr shull alsa bc in default if �;-�;.
<br /> . � Borro�ver,during the loan npplicntion process,gave materially false or inaccurate information or statements to Lender(or failed .;.�
<br /> - � , to provide C.ender with nny material infonnation) in connection with the loan evidenced by the Note, inrludii►g, but not limited -�
<br /> . . :.,,,ry,�. ,r„ . to, representntions concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a •��'
<br /> - �•°•Ne•�v . Icaschold, Rorrowcr shall comply with all the provisions of thc leasc. If Borrower acyuires fcc tidc to tlic Property, thc
<br /> `=-�'^�-^'�+'."��'^ � '�° Icaschold and thc fcc titic shall not mcrgs unless Lcndcr agrccs tu thc mcrgcr in writing. -�
<br /> +" : ~�."`:�.�: � 7.Protectfon of Lctidcr's Rtqhts in tlie Property.If Borrower fails to perfonn thc covcnants and ugrcemcnts containcd in -
<br /> this 5ecurity Instrumcnt, or therc is u Iegal prncecding that may signifirantly affcct L.ender's rights in the Propeny (such us u `
<br />''"���..'� � proceedin�;in bankruptcy, pro�ate, for wndemnation or forfeiture vr to enforce laws or regulations), then Lender may do and , z
<br /> :;�_:+���+�• pay for whatcvcr is nccessary to protcct tlic valuc af thc Property and I.ender's rights in lhe Pruperty. I..cndcr's actions maa• ._
<br /> •^��;~��°�^�~^^�'•� - include a in any sums secured b � lien which hus riorit over this Securit Distrument, u e.irin� in court, a in . ,H
<br /> ,,.,. PY S Y • P � Y Y PP ' b P9 �
<br /> :r, �. reasouablc uttorneys' fces and cntering on thc Propcny to makc rcpairs. Although L.cnder may takc action uocier this paragrapli
<br /> "''� '� 7,�.c.ndcr docs not havc to do�n. �
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<br /> � � � Any amounts disbursed by l.ender under this para�rar'h 7 ,hall become additional dcbt of Burr�iwer secured by this
<br /> � Sccurity Gistn►ment. Unless Borro�ver anJ l�ndc:r agrec t��othcr tenns of payment, thesc amounts shall bear intcrest from the
<br /> `� . � � date of disbursement at thc Notc ratc unJ shall bc payablc. �vith intcrest, upon notice from Lcndcr to Borrc,wcr requesting
<br />_�',. paymcnt.
<br /> ' 8. Mortguge Insurance.!f Lcnder rcyuircd mort�age insurar.re as a condition of making thc loan securced by this Security
<br /> ��" Instn►mcnt. Borrowcr shall pay thc premiumx reyuircd to maintain th� mortgagc insurancc in cffect. If, for any reason, tlic
<br /> ��' mortgage insursnce cover,igc rcquircd by L.ender lapscs or rcascs to be in e(fect,Borrower tihall pay the prerniums requircd to
<br /> - '`' � obtain coverage substnndally equivnlent tu the mortgage insur.mce previously in effect,ut a rost substantially equivalent to the �
<br /> cost to Lorco�vcr of dic mortgagc insura�ue prcviously in cffcct, from an altcrnatc mong.igc insurcr approvcd by Lcndcr. If
<br /> ?� �� substantially cquivalcnt mortgage insur.ince covcrage is not available. Borru�ver+hall pay to L.cndcr cach month a wm cyuul to
<br /> �ti • � � - v o f the ecirl nwrt�a�e insurance reniium bein� aid b Einrro��•er when the insurance cover�ge la psed ur ceased to
<br /> � o t i e t�c l R h y y 6 b p b P Y
<br /> � , be in effect. L.cnder wiU accept,use and retain these payments:+s a loss rc:serve in lieu of mortgage insurince. Lo.s rcaen�e
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<br /> Form 302t3 9/90 I
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