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<br /> S. Hn•r.�rd or 1'raperty Lisurnncc. Borrowcr shall kccp thc improvcments now existing or hereafter crectc,�i on the
<br /> " Prapeny insured against loss by firc. haxurds includcd within the tcrm "cxtcnded covcrage° and any other hau►rds, including . .'�--
<br /> ` floods or floi�ding, for which Lender requires irsurancc. This insurwue sh�ill be maintuincd in the arnounts and ti�r thc periods
<br /> " tha� l.cn�ler rcyuires.The msurance carrier providing the insurance,hall be cho.cn by Bcttruwcr+ubjcrt to L.cndcr'>xpproval
<br /> which shull nnt be unreasonably withheld. If Borrower fuils to maintain coveruge describul above, l.c�nder may, at Lender's v�
<br /> , option,obtain cavcrngc to protcct L.cndcr's�ights in thc Pruperty in ucrardancc with paragrnph 7. � �e
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<br /> AU insurance policies and renewals shaU be aceeptable to l.ender and sh�ll include u standard mortgage clause. Lender ;;.
<br /> , shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give�o Lender all receipts of � ,-
<br /> � paid premiums �and renewnl notices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. , �
<br /> ,� • Lender may make praof of loss if not ma�tc promptly by Sorrowec � , �,�
<br /> Unless Lender und Aorrower otherwise agrce in writing, insurance proceeds shall be applied to restaration or repair of the '►
<br /> Prope�ty damaged, if the restoration or repair is econamically feasible;uid L.ender's security is not lessened.If the restoration or � . =
<br /> •• repair is not economicxlly feasible or Lcnder's security would bc lessened, the insurance proceeds shall be applied to thc sums . ',�
<br /> � ' securod by this Seeurity Instrument, whether or not then due. +vith any excess paid to Borrowec If Borrower abandons the ��
<br /> • Propeny, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then � . ��"`
<br />' Lender may collect the insurance proceeds. Lender may use the procecds to repuir or restore the Property or to pay sums .`�"`"',-`: "�--
<br /> � sccured by this Securiry Instrument, whether or not then due. The 30-day period will begin wheu the notice is given. ° ;:; -
<br /> � Unless Lender and Borrower othe�wise agree in writing, any application of proceeds to principal shall not extend or
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<br /> postpone the due datc of!he monthly payments referrcd t�� in paragraphs I and ? or change the amount of the psyments. If ' .. ��
<br /> under par�graph Z 1 the Property is acquired by Lcndcr.Borrowcr's right to any insurance policiss and proceeds resulting from . ';��.�^.��_
<br /> damage to the Propeny prior to the acquisition shall pass to I.ender to the extent of the sums secured by this Security Instrument A��.,�,
<br /> immediately prior to the acquisition. ` • �� �
<br /> 6.Occupuncy, Preservution, Maintenance and Protection of the Property;Borrowrr's Loun AppBcution; Leaseholds. ' } �
<br /> Borrower shall occu establish,and use the Pro ert as Borrower's rinci al residence within sixt da s after the execution of '�---.,
<br /> PY� P Y P P Y Y ,�a�,
<br /> this Securiry Instrument and shall continue to occupy the Propeny as Borcower's principal residence for at least one year after ' ���
<br /> the date of occupancy, unless L.ender otherwise agrees in writing,which consent shaU not be unreasonably withheld, or unless ��
<br /> extenuating circumstances exist which are beyond Burrower's control. Borcower shaU not destroy, damage or impair the �"��
<br /> Property, allow the Property to deterioratc, or commit�v:iste on the Propeny. Borrower shall be i� default if any forfeiture '" �`� ��
<br /> action or proceeding,whether civil or criminal, is begun that in Lender's goai faith judgment could result in forfeiture of the �±':,, ,
<br /> Propeny or othenvise materi:illy impair the lien cre;►ted by thi,Security Instrument or C.ender's securiry interest. Borrower may �'�+-�
<br /> cure such a default and reinstate,as provided in paraE��aph 18, by causin�the action or proceeding to be dismissed with a ruling ;..:t,k..�
<br /> - that, in C.ender's good faith detennination, precludes forfeiture of thc Borrower's interest in the Property or other material i�'��,
<br /> impairment of the lien created by this Securiry Instrument or Lender's securiry interest. Borrower shall also be in default if I '`'•�'
<br /> , " Borrower,during the loan application process,gave materially false or inaccurate inforniation or statements to Lender(or failed �� f� �'�;
<br /> to provide Lender with any material inforrnation)in connection with the loan evidenced by the Note. including,but not limited ��•• •�•
<br /> ta, representations concerning Borro�ver's occupancy c�f the Property as a principal residenre. If this Security[nstrument is on a
<br /> teasehold, Borrower shall comply with all the provisionti of the lease. If Borrower acquires fee title to the Property, the • � "—�'
<br /> leaschold and thc fee title shall not merge unless Lxnder agrces to�he mcrger in writing. , .' • P
<br /> ' 7.Prutection of Lender's Rights in the Property.If Burrou•er fails to perform thc covenants and agreements contained in , --'%� �
<br /> this Securiry [nstrument, or there is a legal prcxeeding that may significantly affert Le:nder's rights in the Property (surh as a • ��`
<br /> . , pruceeding in bankruptcy,prohate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and �i,
<br /> pay for whatever is necessary ro protect the value of th� Propeny and I.ender's rights in the Property. Lender's actions may � �`
<br /> � include paying any sums secured by a lien which has priority over this Securiry [nstrument, appearing in court, paying "
<br /> . reasonable attorneys'fees and entering on the Property to make rcpairs. Although Lcnder may take action under this paragraph �'
<br />' 7. Lender does not have to do so. '�•
<br /> � Any r^iounts disburseci by Lender undcr this paragraph 7,hall bccomc additional dcbt of E3orrowcr securecl by this f'•
<br /> . " Security [nstrument. Unless Bunower and Lender agree tu other ierms c�(payment, these amounts shall bcar intemst from the
<br /> � ' date of di:;bunement at the Notc ratc :�nd shall hc payablc, with interest, upon notice from Lender to E3orrower rcyucsting
<br /> payment.
<br /> 8•MortgaSe Insurance. If Lender required mortg•rgr insur.mce as a condition of making thc loan secured by this Security i ,'
<br /> Instrument, Borrower shall pay the pmmiums required to maintain the mortgage insurance in effect. If, for any rea�o►t, tlie
<br /> ' mortgage insumnce coverage required hy Lender lapses or reases tu be in effect. Burruwer shall pay thr pr�miums reyuirecl to ,
<br /> obtain coverage substantially equivalent W thc mortgage insurnnce previously in effect, at a rost �ubstanlially equiv�lent to the
<br /> „ cost to Borrower of thc mortgagc insurancc prcviously in cffect,from an altcmatc mortgagc insurcr aippmvai hy L.endcr. If
<br /> substantially equiv,ilcnt mort�age insurance coverage is not available.Burrower shall pay tu Lcnder each month a sum eyual to
<br /> onc-twclfth of thc ycarly mortga�e insuranre prcmium bcing psid by Borrowcr whcn du insurancc rovcra�c lapscci or ccascd to � -
<br /> be in effect. Ixnder will accept. use and retain these payments as a loss reserve in lieu uf mortg:�ge insurance. Lotis rc+�rve
<br /> ' Form 3028 9l90
<br /> P�BO J o�G
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