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<br /> ' S.Hnzard or Property Insurancc. Donowcz shall kcep thc improvcmcnts now cxi�ung on c�reaitcr cmcted on 1hc Property � =
<br /> � . insured against loss by fiec, hau�rds included within thc tcrm"eat�nded wverage" and any othcr hazard�,including flaads or �
<br /> � ,;, ,,_- ' flooding.for whlch Lcnder requires insurancc.'Ihia insurance shaU ba meintaincd in tha eirsc�unts nnd for the periods that Lender � , '
<br /> . . . ..,- • � requires.7tie insurance carricr providing thc insurance shall be choscn by Borrowea subject ta I.c�der's npprovul which shaU nat , .,
<br /> � bes uiueasona@1y widd��lc1. If Barrower fails w mai�ilain coverage describecl above, Lender msy, at I.ender's apdon. obisin �
<br /> caverage to protect I.er�der's rlghts in che Praperty in occArdance with paragraph 7. -
<br /> All insiu�anco policics nnd renewals s1�all bc acccptablc to Lendcr and shall include a standnrd mortgage clause. Lcnda shall �
<br /> _ , hAVe the right to hold the poGcics and renewals.If 1,ender rec�u�es,Borrawer shnll promptly givc�to L,cnder all rcceipts of paid ;
<br /> . premiums and renewal notices.In the event of loss.Horrower shal�give prompt nodce to th�insurnnce carrier t�nd Lender.Lereder :;., . ` �.�1`:,° .:
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<br /> - � may make pmof of loss if not made pmmptly by Borrower. ,� ,'��„�
<br /> • Unless Lender and Bo:rowcr othern+ise agree in wridng, lnsuraicc procecds shall be appGed to restoration or rcpair of the `•-'.��..,�.
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<br /> Propeny damegcd,if thc restoraHon or rcpair ig cconomically feasible and Lcn�er s se�urity is not lessened.If the restoration or ._.�.,_•L
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<br /> -- . repair is not c�onumically feasible or Lender s security would be lesscned,thc ins�rance procecds shnll be applled to tha sums ',
<br />-� • . , secuPCCI by this Security Instrument, whether or not then due, with any eacess paid to �arrower. If Porrower abandons the ''r.�:?s;:;�_
<br /> � Praperty.or does not answer within 30 days a nobce from Lender that tha insurance carrier has offererl ta setUe a claim,then , ��'"'``y"'"y
<br /> :*r� ' Lcnder may colle�t the insi�ane�:pmc.c�,�iv. Lender may use the procceds w repsw or restore 1he Pronerty ar to pay sums secured ������x��
<br /> by this Security Instrument,whether or not then due.The 30-clay period will began when the nodce is�iven. ` ,�f��'�'�'"z;�`�;
<br /> � Uniti;ss Lender nnd�3onower otherwise a�rea in wriung,any applicarion of proceeds to principal shall not extend or posipone '����"'
<br /> . !'�.�.�� '' the due date of the monthly payments nfereed to in paragraphs 1 nnd 2 or change the amount of the paymcnts.If under paragraph �
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<br /> ', , 21 the Property Is ecquired by Lender,Borrower's right to any insurance policies a��d proceeds resulting from damage to the , '
<br /> �`�; Property prior to the acquisition shall pass to Lender to the extcnt of the sums secured by this Securiry Instrument immedlntely ' -
<br /> _ __ _ prior to the acquisitIon. �,,��:
<br />=, ^��� 6.mccuppncy�Preservptlon,Maintenance and Protection of the Property; Borrower's Loan Applkatbn;I.easehokis. �jr ��"
<br /> ' "�•��. Bonrower shsill occupy,establish,and usa the Propecty as Boraowcr's principal residencf:witWn sixty days ufter the e.tecution of '
<br /> , '�'�;;� this Secuairy Insu�ument and shall conilnue W occupy the Properry as Borrower's principal residence for at least one ye,�r efter the ;
<br /> ' date of occupancy, unless Lender othenvise agfecs in writing, whtch consent shall not be unrcasonably withheld, or unless _ �.� � ' .
<br /> extcnuating circumstances exist which ara beyond Bamnwer's control.Bonower shall not destroy,dampge or impair the Propezty, � �`�.
<br /> , allow the Property w detedorate, or comrnit waste on the Praperty. Bonower shell be in default if any forfeiture acdon or ' 'x'
<br /> proceediuig,whelher civil or criminal, is begun Uiat in Lender's good faith judgment could result in forfcipue of the Prope�ty or �- •:;�'�
<br />, " otherWdse materially Impas the lien created by this Security Instrument or Lender's security InteresG Bomnwer may cure such a • n. ,f
<br /> �,�• default Qnd reinstute.as provided in paragraph 1R,by causing the ttction or procceding to be dismissed with a ruling that, in �+� �%
<br /> Lender's good feith determinadon,precludea forfeiture of the Borrower's interest in the Property or other materiel impairment of �''�
<br /> the lien cmated by this Securiry Instrurnent or Lender's security interesG Rorrower shaU ulso be in default if Borrower,during the ' *� :
<br />,x -�`'� — Inan Appllcation process.gave materiNlr False or inaccurate infortnasian or smtemenu to Lender(or felled to provIde Lender with —':�,�`-.f�ry�,�•,
<br /> ',-�' any materlal informadon) in connection with the loan evidenced by the Note, incWding, but not limited to, representauons ' ""��?�� �''
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<br /> � conceming IIorrower's occupancy of the Property ag a principal msidence.If this Security Instrument is on a Ieasehold,Borrowcr �n'r:.;.;�:;;.`"t�`
<br /> shall comply with AI!ihe piovisions of the lease.If Borrower acqnires fee aUe to the Propeiiy,the leasehold nnd the fee title shall "M`."'`�
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<br />_ ' . not merge unless Lender agrees to the rnerger in writing. . • �
<br />: '� . :�•`'�. �• 7.Protection of I.euder's Rights in the Property. If Borrower fails to perfarm the covenan�s and agrcements�contained in , ° ,
<br /> ' d�is Securiry Instrument,or there is a legal proceeding thet rnay slgnificantly affect Lender's dghts in the Property(such as a
<br /> � proceeding in 64vi1ccuptcy,probate,for condemnadon or forFeipue or to enforce laws or rcgnlations),then Lender may do and pay '' :��::;"
<br />_ � for whaLever i�necessary W protect the value of thc Prop:rty and L,ender's rights in the Property.L.ender's actions may include � '�+�,; �';: .
<br /> � paying any sums secured Uy a Ilen which has priority over this Securiry Instrument, appearing in court, paying reasanable ' . '�:',+�°
<br />- ' attorneys' fees and entering on the Froperty to makc repairs. Although Lender may tsike�ction undcr this paragraph 7,Lendcr . .
<br />° docs noi hnve to do so. � �''"'ti��
<br /> '� Any amounts disbursed by Lender under this para�raph 7 shall bc:come Addidonal debt�f Bnrrowea secwed by this Securiry j �"�
<br /> 3 � Instrument Uniess Borrower and Lender agree to other terms of payment,these amounts shall f�ear interest from Uie dete of
<br />-- ' � disburscment at th�Note rate and shall be payab(c,with intcrost,upon notice from Lender to Borrower rcquestinng payment
<br />� 8.Mortguge Insurance. If Lender roquired mortgage insurance as�condition of ml9cing the loan secured by this Security
<br /> • Instrument, Bonower shall pay the pmnvams required to maintain the mortgage insum�ce in efFocG If, for any rcasan, the !
<br /> — mortgege Insurance covuege required by Lender lapses or ce�es to be in effect,Borrov�er shall pa��the premiums requimd to
<br />.� obmin coverage substantially eqnivnleut to the mortgage insurvice previously in effoct,at a cost subst�nti�liy equivalent w the
<br />-. cost W Borrower of the mortaage insw�nce previously in effcct, from nn alteanate mort�age insurer approved by Lender. If
<br /> . substanasilly equivalent mortgagc ins�urance coverage is not avaiL�ble,Borrower shall pay to Lender each month a sum cqual to
<br /> one•twetfih of�he yearly mortgage inswrttutce premium bcing pa[d by Bonower when ihe insuiance coverage lapsed or ceased to '
<br /> ____ - -_ be in effec� Lender will ncceaG ose and r�etain these navments ss a loss mserve in lieu of mort¢aee insurnnce. Loss reservc
<br /> - �:� - - - - - Form 902a 4/90
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