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<br />-_�• S, l�azerd or Property Insurence. Borrower ohall keep the improvemente now exieting or hercafter erected on �
<br /> •e�.:,. , . . .
<br /> �-_��:>��;�;;,° tho Froperty insured egainst Iosy by fire,hazards includc;d within tho tcrm "oxtondui covcrago' and any othcr l�niardc, - -�-"- -
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<br /> -�r�-�`ri'" '' including iloods or flooding,far which Lender requires insurance.Thie insuranca shall be maintained in the amountA ��....:a,�;
<br /> "_`"->""�"'`"V' and for the peri�de that Lender requir2s. The insuranco carrier providing thP inauranca shaU be chosen by Horrower � '_ -: - -
<br /> ��;= ��'�� subject to Lender'e approval which ehall not be anre�nnbly�vithheld.If 8orrower feils to maintain coverage described °„ �
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<br /> _ above,Lender mny,nt Lender's aption,obtain coverago to protect Ixnder's rights in the Propertq in eLCOrdnnce �vitti • --
<br /> ��.A.w,:.-�.��� • parngrnph 7. �� . ,;.
<br />'�^��� • �- �• All msurance policies and renewnla shall be acceptable to Lender and ehall indude a standnrd mortgage clause. , � - _
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<br /> ' Lender shall have the right to hold tha policies end renewnis. If L,ender requires, Borrower shall promptly give to . �°�� �
<br /> -. � ' Lender utl receipts of paid premiume und renewal notices.In the event of loss,Horrower shall give prompt notice to tha ' � `�n-_
<br /> ! insurunce cnrrier and I.Ender.I.ender may make proof of loss if not made promptly by Bonower. ��" `'�-'
<br />• »;� 'r� Unless Lender and Bo_rtotver otherwise agree in writing,insurance praceeds shall be applied ta restaration or repair '' : ".s';;,•'�;;_K�
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<br /> `� r of the Property dameg�d,i�2he restoration or repair is economic e l ly feasi b le sn d L,en der'a security is not lessen e d.I f t he -'�:°;^.:�.�,��--
<br /> '' " �� restoration ar repair is not economicully feasible or Lender's security would ba lessened,thc insurance proceeds shall ba �,.;,� - _ _
<br /> `{�F'>`M�• �� applied to the sume secured by this Security Instrument,whether or nat then due,with any excess paid to Barrower.If "_' , � `�r _
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<br /> . i � Borro�ver abandone th�Property,or does not answer within 30 days a notice from Lender that the insurance camer hn� � ,;a;- _
<br /> offered to settle a claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or u..�, �.. �?� '
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<br /> '��`" ��•• restore the Property ur to pay surns secured by thie Security Instrument,whether or not th�n due.The 30'day period will � • •'��,r"��,�.w;;w=
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<br /> ., c t?;jj� begin wha:�tha notice is given. `+'� , �°
<br /> F` �? : -''�� Unless L�nder and Borrower ot�eerwise a ee in writin ,H�s a lics:ian of *oceeds tL� rinci s!shall not�xtrnd ar �'':��',��;; =_
<br /> � . . , _ ,,, bn' g 3� FF P• F P r��.
<br /> ' �� �*° postpone tlne dve date af the monthly paymenta referred to in pa•ragraphs 1 and 2 or chango the amount of the payments. ���'ry��rr"°'
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<br />'�.:�Jt; ., If under ars ra h 21 Ehe Pro rt ie a uired by Lender, Borrower's ri t to an insurance licies and roceed.9 �i^�' "';°
<br /> �_�Y�r. , P g P Pe Y �9 I� Y Po P nt�. =,s �— -
<br />,;�<<,,;Y . :�� resulting from damag�to�the Property pnor tc�tt►e acquisition shull pass ta�,ender to the extent of the sums secured by ���� ;.:, ��;��
<br /> this Security lnstrument immediately pnor to the acquisition. �� . �°�- �-
<br /> �' ` {��'`' �,m�xupaacy,Presorvition, NSaintensnce and Protection of tho Pro ert Boasower's Loan App,licateon; � `
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<br /> ;�ti,�+�;�t�,:;,.<<y?,t,;.?;.�';;�, D.easaholds,BorroNer ahall occupy,establish,and use the Property as BoiYOwer's principnl residence within eixty dnys ,. , ._a�,�;_
<br /> C�,>_, � ; '�l�•'?�"_:, after the execution of this Security Inetrument and shai) continue to occupy the Property es Borrower's ptincipal �ctt,..,, � y,� ,�•.
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<br /> ti ,; residence for at least ome year after the date of oeeupancy,unless Lender ocherwise agrees in wriiing,wnico coru�ut�nu„ 7}, ;..,�4 µt�.�
<br />� . '� � `��;�`�.'�;�� not be unreasonably zvithheld,or unless extenuating circumstances exiat Nhich are beyond Borrower'e controL Borrower �;;,, _•,. ,,;;i �t-
<br /> �``�.���•:�' shall not destroy,damage or impair the Property,allow the Property to deteriornte,ar commit cvaste on tho Property. .
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<br /> $orcower shell Ue in dofault if any forfeiture action or procecding,whvther civil or criminal,is begun that in I.endor'a -•^,4i
<br /> • ' good feith judgment could result in forfeiture of the Property or otherwise maturially impair the lien created by this
<br /> .. ' ,.� •r. Security Instrument or Lender's security interest. Borro�ver mey cure such u default and reinstate, as provided in :�r/'
<br /> _',_�,�.j�y ��, � psragraph 18, by causing tho action or proceeding ta bc dismissecl with a ruling that, in Lendere goad faith .•� ;+[.
<br /> " ' '� determination,precludes forteiture ot the Horrowcr's intcre.9t in the Property or other material impairment af the li�n �;, �+�"
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<br /> ,�,;,,,,�,, , , � created by this Security Inetrument ar L.ender e se�:urity interest.Horrower shall nlso be in default ii tiorrower,during .,. �:,. '�
<br /> _. . ,�„�. the loan applicetion proceSV,gave materially [atse or inaccurate intormation or statements to I.ender (or tailed ta �.��.
<br /> ��'; ' � provide I.ender with any material in4orrnetion) in connection with the loan evidenced by the Note, including,but not „ , �� �
<br /> � '� limited to,representations concernin� �3orc�w�r's ac:cupanr,y of the Prope.rty as a principal residence. If this Security ��';�� � �-�
<br /> � � � `;�`• :. Inetrument ie on a leasehold,Dorrower shall comply with all the provasions ot the lease.If I3orrower ncquires fu title to ' , , "R►.
<br /> tha Praperty,the leasehold end the fec title shull not merge unl�s Lender agrees to tho merger in Nriting. � . �:�;i�:;;�,_-_
<br /> _-:�: •. •ry;,� 't: , 7, protection of Lendor s Rights in the Proporty. It Bnnower fuils to perform tho covenants and ngreements I '•,,.�.:,�,�w.,.�
<br /> -:' i�'�? :?. contained in this Security Instrument,or there is a legal pracceding that mny significantty uffect Lender s rights in the i
<br /> ��'''�`° ' Pro rt sucu as a roceedin in bankru tc , probute, for condemnation or forFeiture or to enforce lawe or � � .
<br /> -.���.:,�.::�t..��� P� Y � P E P Y ..'ti �Y!�
<br /> regulations),then I.ender mey do and pay for whatever is necessary to protect the value of the Property and Lender's f _
<br /> o rigt►ts in the Property. Lender s actiona may include paying anp Fums secured by a lien �tihich has priority over this , : �� A'*s
<br /> �� '.�.. Security Instrument,appeaeing in court,paying reasonnble attorneys'fees und entering on the Property to mnke renairs. -=-T_-
<br /> _ Although L.ender may take action under this parugraph 7,Lender does not huve lo du su. I '�� � :�;-;
<br /> = •' ' : � Any amounts disbursed by Lender under this paragraph 7 shall bec;ome additiunal debt of Borrower secured by thio . ,-
<br /> "�' Sec�rity Instrument.L;nless Bormwer and Lender agree to other terms of payment,these amounts shull bear interest � -
<br /> `�'�' �. � �•'• " from the date o4 disbursement at the Note rate and shflll be payable,with interest,upon notice from Lender to Borrower
<br /> 1 +
<br /> - _ : requesting payment. ; � ' •'
<br /> . . - i3.M(mrtg��c insurrnc�e.If Lender required mortgage insurance ns n condition of mn�ing the loan secured by this , '
<br /> � Security IInstrument,Borrower shall pay the premiums required to mnintnin the mortgage insurance in effect.If,for any ;
<br /> � -3 reason,the mortgage insurance coverege required by I,ender lapses or ceases to be in eEfect, Borro�ver shall pay the ;
<br /> • premiums required to obwin coverage substentially equivulent to the mortgage insurance previously in effect,at a cost ! '
<br /> � substanti�lly equivalent to the casi to Borrower of the mort�rage insurance previoosly in effect, from an alternate
<br /> � . mortgage insuter npproved by Lr:nder. If substantially equivalent mortgage insurxnce coverage is not evailable,
<br /> , Boreower ehull pay tn Lender each month a sum equal to one-twelfth of the yesrly mortgage insurance premium being
<br /> • " �� ��� paid by Borcower when the insurance coverage lnpsed or ceaserl to be in effect.Lender will nccept,use and retnin these
<br /> "' ' ' ' payments as a loss reserve in lieu of mortgoge insurance. Loss reserve payments mny no longer be required, : .
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<br /> __�__ F�rm 302Q 9l90 ..__
<br /> ._cYw'=""r �� �—BR�IL•1�osu� o.�. �o� a iniudc , -_-.--
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