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<br /> -"''�""'� ��••�"�` 5. Hazu�l or Property Insurunce. Horrower shall keep the improve�nents no�v existing or 6ercaRer erecteci un �i�c _
<br /> -�.=.;r.:F,�- Propert�� insurcd ngninst loss by tFire, hazards in�luded within tne term "cxtcndcd covcrage" and any othr,r li�tds. irtcluding ��� ��
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<br /> :,.';,�_',�;;� ftuuds ur fluoding. for tivhich I.�nder requires insurance. This insurincc shall bc muintafned in thc nmounts and for the peri s � -
<br /> that l.c�tdcr rcyuires. Thc insurancc carricr providing thc insumncc shnll br,chosc�ti by Borrowcr subjut ti� I..cnder's approv:il
<br /> ��� �vhich shall nat be unreasanably withheld. lf Borr�wer fails to maintain covsrnge described above, Lender may, at Lender's
<br /> ����` �ption,obtain cavera�e w protect Lender's riglus in the C'roperty in accordance w3th paragraph 7. __
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<br /> "'�'r" ..,,'�; All insurnncc policies and rencwals sh111 be acccptuble to Lender and shall include u standard mortgagc clausc. Len er
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<br />`� {�` shall have the right ro hold the pol'scies and renewals. If L.en�er requires,Borrower shall promptly give to l.ender nU rcceipts a
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<br />_ , .' :, ,,�; paid premiums and renewal notic�:s.in the event of loss,Borrower shall give pranps notice to tli�insurance carcier and L.en er. ��-_� --
<br /> ,��`��,`t•� -a.. Lender may mAke proof of loss if not mude pramptly by I3orruwer. -
<br /> '`� ' ��.` Unless Lcnder and Borrower othenvise agrea:in writing,insurancc procecds shali be applied ta restoraticm or repuir of the
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<br /> � , •�; Property damaged, if the restoratlon or repair is economically f'easible and Lender's security is not lessened.If the restoration or �- -- �_
<br /> � ' repair is not economically feasible or Lender's securiry would be lessened, the insurance proceeds shall be applied to the sums �_-^ ���_
<br /> r�;'y �' �:•�=, secured by this Security Instrument, whether or not then due, with any excess paid to Horrower. If Borrower absndons the ���--- ---
<br /> Property, or does not a.nswer within 30 days a notice from IJcnder that the insurance tarricr has offered to settle a claim, th�n ��wu
<br />_= " �.''} Lender may coliec[ the insurmice; p►�uceeds. Lender may� use �he proceecl5 ro repair or restore the Property or to pay sums 4,'�
<br />., secured by 1his Security Instrument,whether or nat then duc. The 30-day period will begin when tlie notice is given. �;�,f�-
<br /> ��y.A%Y�.+—
<br /> lication of roceeds to principnl shall not extend or ,,,,,��R,,..
<br /> " � Unless Lendee• and 9orrower otherwise agree in writing. any app p ��� ����-"'
<br /> � � postponc the duc datc oi the monthly payments referred to in paragraphs l und 2 or change the amount of the payments. If "�,ry'L_-��;��1tl��.__
<br /> � � � y� under paragraph 21 ihe PiuNrity is a�auirc:d by l.cndcr, Dor�o���er's right ta any intiurance policies and�roc�eds resultin� from � ;�,.,,p _ ,
<br /> ' dama�e to the Propeny prii�r ta the acyuisition shall pass eo Lcnder t�the extent of the sums secureJ by this Secunty Instrumer.t u . i �,��Y
<br /> � �".��)� immediately prior to the acquisition. '��+�3�''��=-
<br /> ,� • �'�_'� 6. Occupancy.Pr�ervatlon,Malntenance und Protection of the Property; Borrower's Y.aan Apnlicutiou; �.euseholds. �';;.X :
<br /> Borrower shaU occupy, establish, and use the Property as Borrawer's principal residence within sixty days after tlie execution of �' ?'�°��'�'
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<br /> ,. � �- ...., ;hi�Securit�lr.�!rument and .hall continue to occupy the Pro�erty as Bonower's principal residence for at least one ear after '� �'• ��'�:,-
<br /> T� '� the date of occup�ncy, unless Lender otherwise agrees in writing,whicn cuu�rni sliull not be unrcasonably w�ittth�td,u. ui;icss �'-.� ,-�.�
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<br /> extenuatin� circumaiaucC, CA��t w���.., a,.. ..^..�^.. .-�n..i"''�� �•��ntrol. Burrow�r shall nut aestr�� . d:uns�c, o�- im air thc
<br />, Property, allow the Property to deteriorate, or commit waste on the Property. BoiTOwer shall bc in default if uny torteuure � ���;:�:"
<br /> ` -- � • action or proceeding, whether civil or criminal, is begun that in I.ender's gond faith judgment rould result in farfeiture of the �
<br />- • � Property or othenvise materially impair the lien created by this Security Instrument or Lender's security interest. Bonower may
<br /> cure such a default and reinstate, as provided in paragraph I 8.by causing tlie action or proceeding to be dismissed with a ruling : .� .
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<br /> that, in L.endcr's good faith determinution, precludes f'orfeiture of the Borro�vcr's intcrest in thc Property or othcr material ., a ,
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<br /> impairmem of the lien created by this Security Instrument or Lender's security interest. Aorrowcr shall also he in default if f
<br /> Borro�vcr, during the loan application process, gave materially false or inarcurate informution or statenients to Lender(or failed _ �,
<br /> to provide Lender with:iny material information)in eannection with the loun evidcnced by the Note, including,but not limited ,,, . r�;
<br /> '� to,representations conceming Borrowcr'ti occupancy of the Property as a principal rexiJetice. If this Security Instrument is on a ,,.,,: -
<br /> Ieasehold. Borrower shall comply with all the provisions of the lcase. If $urrower ucquirrs Ice title ta the Property, the : '^��',�.-
<br /> Ic:tsehold and thc fec tide shall not mcrge unless Lcmdcr agrecs to the mergcr in writing. , "„�
<br /> ' 7.Protection of I.ender's Rfghts in the Fropertv.If Born»vcr fails to perf'orm thc cuvenantti and agreements contained in %-%� �
<br /> this Sccurity Instrumcnt,or Ihcrc is a Icgal prcxccding thut may significantly atfcrt L.cndcr's rights in thc Properry(such ss a , r
<br /> � " proceeding in bankruptcy, pmbute. for conJemnatinn ur f��rfeiturc or tu enfnrcc luws or regulutions), then I.ender may do and
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<br /> pay for whutever is necessary to pmtect the valur uf the Properry and Lcnder's ri�hts in the Property. l.ender's actions may �
<br /> include paying any sums �t�cured by a lien which ha: priorit, over this Security Intitrument, appcaring �n rourt, p.eying •�;J..
<br /> rcason�blc atrorneys' fces and entcring on the Property tn makc rcpairs. Although Lendcr may takc acticm undcr this parugraph , �'
<br /> 7,L.ender does not have to do so.
<br /> � Any amounts disburscd by Lcnd�r undcr this parugraph 7 .hall bccumc udditi��nal dcbt of Borrowcr sccurcd h�• this :
<br /> "' Security Instrument. Unless Borrower and LcnJcr agr�c tci nthcr tcrms ul'payment, these anu�unts +hall bcar intercst from the
<br /> dare of disbursement at the Note ratc and shall be paYablc• �vith intccr�t. upon nc�ticr frunt L�ndrr tu Barrower requesting
<br />- payment.
<br /> S.Mortgu�c lnsurance.If L,cndcr rcquircd mortgagc intiurancc as a conditicm of making thc luan�ccurcd by this Scruriry
<br /> instrument, Aorrowcr shal{ pay tlic prcmiumx reyuircd tu maintain the �uartgagc insurancc in effcrt. If, liir any rcatiun, thc
<br />= �� mortgagc insurance coverage required by l.�nder lapseti or ccas�s to be in eff�ct. Be�rrower shall pay thc premiums rcyuired to i"'
<br /> obtain co�crage substanti�l ly cyuivalent to the murtgugc insurunco prcviously in eCfcct, at a cast substanti�tlly cy�tivalent ta the
<br /> cost to Bon•ower of the mongagc insurancc previously in cl'tect, frum an altcrnatc monEuge insurcr appruveJ by LcnJcr. If i
<br /> . substantially cquivalent mongage insurance covcragc is not available. Borrower shall pay to Lender exc�i�uonth:++um cyual tu i
<br /> � one-twclfth of thc ycar[y mongagc insurancc prcmiunt bcing paiJ by Borruwcr�vhcn thc insur:mcc cuvrrxge I.tp�cd��r cca��d tu
<br /> be in eCfect. Lender will accept, use and retain these p:tyments as u losti reserve in lieu uf numgagc intiurance. Luti, reserve
<br /> Form 3U28 9/90 .
<br />- PoS�e 3 01 6 .
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