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<br /> " S.Hazard or Property InsurAnce. Borrowcr shnU kecp the Improvcmcnt�naw cxisting on c�rcafter erected on thc Property
<br /> , insumd agairrst loss by Cue.ha�ards included within the term"extende�l coverage" and any other ha�ards,including �luoda or
<br /> ° flooding.for whkh Lender requires Insura�tcc.This insuranccs shall be maintained!n the amounts and for the perlods that L.ender .
<br /> . requ�res.'Il�a lnsurance eazrler providing the Insuranee shall bu chosen by Borrower subject to L.ender's approval whleh shaU not
<br /> „ Ms uiueasonably wIthheld. If Boirower fells to mainwin cc�ve�o described above, Lender mey� at Lender's option, o6tain
<br /> � coverage to pmuxt L.ender's dghta in thu Property in accordanca with paragraph 7.
<br /> . ' AA insurance paQcies and renewals shel{bo uccepiable to Lender and shail inciuds a scandard mongego ciause.Lender shali
<br /> � have thc dght to hold tho pollcIcs and renewals. If Leader requires,Borrowcr st�aU promptly glve to Lender aU receipts of paid
<br /> � pmmiums and renewat nodces.In the event of loss,Sarrower shaU give prompt noflce to ths insurance carrier and Lender.L.cnder
<br /> , may make proof of los.g if not made prompdy by Bonnowar. "
<br /> „ � tJnless Lender and Borrower otherwise agrce ln wrlting.Insurance praceeds shall be appllcd W restoradon or npair of the
<br /> Property damaged.if the restoraflon or regalr is economically feasible and Lender's securlty is not lessened.If the restontion or
<br /> i npair L� rtot oconomIcally fe�sibte or Lend�'s security wouW be tessened.the insuraace proceeds shali be applled to the sums
<br /> sccured by this Sccurlty Instrumcnt, whether or not then due, with any excess paid to Borrnwed. If Bomnwer abandons the
<br /> , Progerty�or does aot answer withln 30 days a nadce from Y.e�tdea ttwt the insutanco carrIer has offered to settle a claim.then
<br /> Lender may callett the insurance proceeds.Lender may nse tha prnc,eeds to repair or restore the Property or W pay sums secured . •
<br /> � by this Security Insvument,vfiethea or not the.n duc.'Ihe 30-day perIad wUl begtn when the notice is glvea. �
<br /> Unless I.ender and 9orrower otherwlse agree in wridng,any applfcaoton of pmceeds to principal shall not ezte,nd or postpoao �
<br /> " the due date of the monthly payments�+eferrod to ia parag�apds 1 and 2 or ct�ange the amount of the payments.If under paragraph
<br /> 21 the Property is acquired by I.ender�Homower's slght to any insutance polictes and pmceeds resulting fmm damage to the
<br /> �� �P�Y Prlor to the acquisIdan shsll pass to Lender w the eutent of the sums secuced by tf►iis Se�urity Instrumer+t immediately ,
<br />, prior w the acquisition. ,
<br /> . • 6.Oocupancy.Preservtttion�Maintenance aad ProteclMn ot the Property= Borrower's Loan Applkatton�Le�sebolds.
<br /> � Bonower shall accupy.establish.and use the Propeny as Boirnwer's principal residence witWn s3xty days after the execution of '.�.�`E;;' �,
<br /> this Securiry Insuument and shaU condnue w occupy the 1Pmpeny av Boirower's princIpal residence for at least one.year after the ' ' ,„�,,'-�
<br /> _ daDZ of accupancy, unless Leader otherwise agrees in writing, which cansent shall aot be unmasonably wIthheld, or unless ;�,��;�`���:�
<br /> extenuating circumstsnces o�dst whIch are beyond Borrower's control.Borrower shall not destroy�damage or ir�pajr the Prope�ty. ' �: '�'r`--
<br /> . ' aUow the Pm �' :(��'
<br /> perty to detertorate.or commit wasto on the Prope�ty. Bomuwes shaU be in default if any forfeiwre acdon or p�.,' �
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<br /> pmceeding.whe�her clvll or criminal,is begun d�at in Lender's goad faith judgment wuld resWt in forfeiwre of the Propeaty or � .:,.�,;`;;::��'; i
<br />` othcrwise materiell im air the AeA created b this Scxun Instrument or I.ender a securlty Interest Borrowca mav cure sach a ;`"`� `.�.1 �
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<br /> - defaWt and�einsmtc�av provIded in paragraph 18,by caustng the acdon or proceeding w ba dismissed with a rullng Ihat,in �;::t. ;'
<br />- Lender's good faith deteamL�adon.Precludes farfeiWc�of ihe Bomower's interest in the Property or olker material impairment of . '' ��;;.t`� �
<br /> . the lIen created by this Securiry Iuswment or Leadea's security lnteresL Bonower shall aLso be in defaWt if Born►wer.during the �',�:. ',{��; ;��
<br /> loan ePF��P��.88ve mateiially false or inaccurate infomnadon or stete�nents w Leader(or failed to provIde Lender wIth .. .. i� ,.,�:
<br /> any materjal infom�ation) in conne�don wIth the loan evldenced by the Nota.includtpg,but noi IimIted to.represenmtioas ' ''�-°��
<br /> : concerning Borrower's occupancy of the Property a9 a princfpal resideace.If this SecurIty Insuument is on a Ieaseltold.�oteower . s�. "' �
<br /> shall comply with all the provisIons of the lease.If Bompwer acquires fee dtle w the Property�the leasehold and the fee tida shall
<br />- ; not merge aNess I.ereder agc�ees to the merger in arldng. ..
<br />- 7.Proted[on ot Lender's Rig6ts in the Property. If Borcower fails to perfora► the covenants and agreemeats conmined in � '� =-�
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<br /> _ . _ this Sea�rity Inswment, or ther�a is a legal proceedirtg that may sigait3c�ttly affect Lender's rights ia the Property(such as a � : ..
<br /> prcxeeding ia banlauptcy.Probate.for condeannetlon or forfeiwre or Uu enforoe laws or regulstions).thea Lender m�y do and pay �G��`�`.�
<br />- , for whatever is neces,sary w protect the value of tho Prope�ty and Lender's rlghts in the Prop�rty.Lender's ectlwns may irtclude
<br /> ' PaY�B eny sums secured by a I�en which hag prto=iry over this SecurIry Instrument, aPP�►n6 � ��, PeY�B c�sonable .�. �..
<br /> � • attomeys' fees and enter�ng on the Property to make npahs.Although Lender mny take acflon under this paragraph 7.Lendex .':ti:;�:�,::
<br /> - :��. ,. , , does aot tiave to do so. :i �.�
<br /> _ ; ,. Any amounts disbursed by Lender under this paragraph a shell bocome addidonal debt of Borrower secured by thls SeciuIty � �:•��-
<br /> - Insaument Unloss Bomower and Lender aqnee w other terms of payment,these emounts sball bear int�st from the date af . '�M�.�
<br />' . �� d)sbursernent at the Note rate and shall t�payable.wIth inreaest,upon notice from Lender to RoRower requssti�ng payment ,. . .. --=-=,�wu:.
<br /> ... 8.Mortgage Insuraace. If Y.ender required mortgage insutance ag a coadidon of making the Wtut secured by this Security
<br /> a:. ��, Instrumeat, Bormwes skatt pay the premiums rcq�rcd t,o maintaiu the ea _
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<br /> _ artgagc ins�uance in effect. If.for any reaso��, the
<br /> ,�.,1 moitgage insurance cove�ge required by Lender lepses or ceases W be in effect.Borcower sh�!!pay the pretniums requlned to ..✓ _ -- . �. .
<br /> ±� � ., I obmin covernge substantially equivaleat w the mongage insu:anoe previovsly in affect,at a cost substantially equivalent to the
<br />:_� � cost to Bomower of the mortgage insurance previously in effect, from an alternate mortgage ins�crar approved by Lendea.If . . .
<br />,•;f I subsmntfaUy aquivelent mortgage insurance coverage is not avatlable,Botrower shall pay to L.ender each month a sum eqoal to •
<br />- ; one-twelfth of the yearly mortgage 3nsurarece premium being paid by Bo:rower when the insurartce coverage Iapsed or e+eated to �
<br />':; � be in effect Lender will accep�use and mtain these payments as a loss sesecve in lleu of mortgaqe ins�rance. Loss reseeve �
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<br />_�' � Fo►m 5028 8180 '
<br />� � �•eV(NE)�02�ai Peye�ot8 tnftlair.
<br /> '� ' 793-3
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