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<br /> ° . <�.:' S. Nmzard or PhapPCty tnsnra�ce. Bnmower shall keep the icnpmvements aow exiscirrg or heceafter ecected on the ':<��,:
<br /> .� �.�. .;
<br /> --� `...; t��. ; �Property insute�d agains4loss by fire.haza�ds inctuded tvithin t1►e term"extended coverage'and any other hst.3rds.including �. •.
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<br /> ,, ,, .. `;4 :. ` ° t�oods or flaoding.for tivhieh I�er eecluires insurance.'�'f►is insueance shall be maintained in the atswunts and for the periods
<br /> ' ' that L.ender requires.The incurance carrier Praviding the insurnnce shnll be chosen by B�rrower subject to Lender s approval .
<br /> -V°� � ��` ',�:;:��;." . which shall nat 6e anmasonably withheld. If Borm�ver Eails to maintain wverage described a8ove. lxnder may. at Lender's ,
<br /> optioa.obrain rnverage to pratect t.e:►der's rights ia tite Progeaty in accorc�ance with paragrdph 7. _ _
<br /> ���� �r�` Ail insutasice policfes and renewaLs sUall be aooeptable to l.ender and si�alt irslude a standa�d mortgage c[ause. Le�er
<br /> -�'r •���`, .�. `':� �.shall bave the right to hold the poticies and reaewals.If L�nder requires,Borrowe�shail prompdy give to l.�nder aU receipts of ,
<br /> T ^ ` • - -- paid premiutt�and�newal•Qotices.In tIie event of toss,�orraa'+er shaii giv�pio;►'�yt it�ti:c t:,tu:is�srr.3e?r?•rigr anA i.ender. -
<br /> - Lender may make pmof of loss if nat made promptly iry Bar�nowes• �
<br /> . ��,•, ,� , . Ur►less Lender and Borrower otherwise agree in writing.�nsarance proceeds s1�a11 be applied to restoration or repair of the �_>
<br /> ;,`' ,• �4�
<br /> � ,. '� Properry damaged,i�the restoratian or repair is economically feasi'ble and Lender's security is nat lessenscf.If tfie restoration or _
<br /> ��' '�`:� ;`% � - repair is not econoinically feasble or Lender's securitlr woutd be tessened.the insurance proceeds shall be appfied to ttte sums �;�;�,;:
<br /> ' ' � � _ .secured by this Securiry Instcument, whether or not then due, with any excess paid to Borrower. If Bprrawet abandons the � �,..
<br /> . Pcoperty,or does not answer within 30 days a notica from Lender thas the insurance�arrier has offerec!w sente a c�aim.diea �_�1
<br /> ' ' Lender may callect the insurance pmceeds. Lender may use the proceeGs to repair or testoie tke Propert;� or to pay siams � �=_
<br /> ��;`• `," secu�by this Security Inst�unem.�,diether or uot then due.The 3Q-day period will begin when tfie notice is givea. ___=
<br /> ;` • - " Uniess Lender and Borrower otherwise agree in wriring, any+ application of proceeds w principa! shalt not e�ctend or �;,_
<br /> :t•, ' . � postpone the due dat�of the moathly payments referred to in gaiagraphs 1 and 2 er change t6e amount of the payg.ents. If _.�.':
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<br /> •' �;,-�..<..�_.-.:_,::.;��' parag�apb 21 the Piogerty�is acquired by Lxnder,Bonower's right W any;n�•ance policies and pmoeeQs resuIting from ��:_;
<br /> _. ..�. �� .
<br /> � . : ".=;. .- _ . _damage fo the Pro�rty�pn'�sr Co ��quisition�shalt pass w Lxa�er-to-the extent of-the sums securod by-ihis Sectirity_Insimment_..-- -:-..-�'T
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<br /> � - , ^";`; imnnediateiy p;ior te the acquisitio�. � �
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<br /> •° ° . 6.Oceapancy,PreswR+atton,B�alntenance aad�rotes�ton of/he Properiyt Borrn�s Loan ApplIcatFon:Lcaseholds. �_
<br />- . � � -:F�� Borrower sl�all accupy.establish.and ase the Property as$orrower's principal residence vvithin sixty days aRer We esect�tion of • �_
<br /> ':,._.�,....
<br /> � ; . . f,�� - . this.Security Instrum�nt and shall contiswe w accupy the Propetty as Bomnwer's principal residence for at least oae year atte� �,:;
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<br /> • 1 • tli date of axupancy.unless I�ad�r�►therwise agrees in wri6ng.wiucb consent s6all nat be unreasonalily vidfhheld;or unless.
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<br /> J- ��.���.°'. ,�:,��� aazi circumstances �xist c,�-,� are 6eyond Bamawer's c9ontrol: Bocrower shall net desuoy, damage or impair the —_-
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<br /> -.* �• y•�5�: Property,allow the Property to d�t�cotate, or commit waste oa the Property. Barrower saall be in defauIt if any forFeiture -_-
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<br /> .'.� � �, a�ion or pmceeding,tivhether civil or criminal,�s l�egnn that in Lender s good faith judgment cduld re�ilt in forfeiture of ttse
<br />_ � � •• -' '�� � Property,or otherwise aaatsriaily impair the lien created by this Securiry Tnst�r,�nt or Lender's security interest:Barrower tnay
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<br /> • � cure such a default and reinstate.as grovided in patagraph 18.by cansing the action or praceeding to be dismissed wIth a ruling __
<br /> �'������, , , -
<br /> ::;�:..,:�::'����.r.:,.b.. that,,in Lender s good faith deiee�:..�ation, precludes forfeiture of the Boaower s interest in the Propercy or other maserial -
<br /> �,�i' "' impairmem of the lien created 6y�:s Seauity Instrument or I.ender's security intarest. �rrower shall stsa be•iri defanit if
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<br /> L,_, ,��:J���.• Romower,during the➢r�.�i applicatian pracess.gave materiaUy false or inaccvzate inforaration or statements to Lender(or failed
<br /> '.' 'f`�''' ` to provide I.�nder wit�a�,�y material inforroation)in connection with the toan evidenced by the Note,including,6u2 not limiced _
<br />- -;•:.�: ;.-•`�'`
<br /> :t f��� :; �, -'� ,� to,representatians caa�ing Borrower's occupa�icy of the Prapercy ag a principal residence.If this Security Instn�ment is on a _
<br /> .``"'�'�''-'�t' "'�' leasehold, Borrower shall wmply uith all the grovisions of the lease. If Bonawer ar��ires fee title to the Property, the
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<br /> �''y*� f���� � leasehoifl and the fee ufle shaU not ra�ge unless Leader agrees to tDe merger in writing•�
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<br /> • `.s:::'v#��r,a � - ': 7.Protectlon of�.eade�s Rig!►ts!n t6e Property.If Borrower fails w p..tform the aa�ensnts and agreemepts conta148d in
<br /> _ 3�i�_'+R��_,i:1�4`. 1
<br /> - -=;- - - . xhis Secusity Instrume:i,or there is a legal pror.�ng that may significa�uGg affect Lznder s rights i�t�PcoPert3+(sach as a
<br /> '�"' praceeding in banlwptcy.prbbate.for condemaation or forfeit�se or to cnforoe taws or reg+ilatibns),then Leader may do nnd ,
<br />=� � pay for whatever is necessaryr to gr�.c:.�t the value of the�aperty and Lender's rights i��ne Property. l.ender's acdons may
<br /> ;';:�� � inolade payin� any sums securat �y a lien whiCh tias priority over this Security �ment, appeazing in covrt, paying
<br /> : .�
<br /> -�-�•� �F' masonable uttomeys'f�s and entering on the Property to tnake repairs.Althougf�l.ender unay take action under this paragraph
<br /> !�r.:;;�,� , , 7.Lender daes not h:.�s;;o do so. � ,
<br /> � �_ �;rr��.�;,��: • My amounis disbursed by Lender under this paragraph 7 shall become additional debi of Borro�ver serured by this
<br />- ,. ,.. �
<br /> �'�� • :��' Security Instrument. Unless Borror��er and Lendet agree to a�:g terms of payment,these amounts shall bear interest ftam tiie
<br /> ; ,��r.,��.�.Y � � w � .
<br /> date of disbursement at the Note r' and sha.! be payable.with interest, upon notice fi1x�Lender to Borrower cequesdng ,
<br /> ;t• _:f,,t�t��( "n. � �
<br /> : ., ,.._., . . , payment.
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<br /> � � � �`'��' 8.1V,lortgage Iasurance.lf Lender teguira�r�nrtgage insurance es a condition of malc�ng the lav��s.°cured lry this 3ecurity • ,
<br /> ,.,`;i�;_::;,.*.;. �,
<br /> �'" `'``'•' '�� Insmiment.Borrowet shall pay the ptemiusns e�quired to maintain the mortgage insucartce.in efferc.. I� for any reason, the
<br /> �, l',r':r.... :
<br /> - � ' � y:;;; :� mortgage insuranee covera�,e required by Lender lapses or ceases to be in effe�t.Borrower shall pay the premiums required to
<br /> '�'.: ...,';�t��•.:�.'�'. . obtain coverage substamialiy equivalent to the mortgage insur�.nce previously in effecx.at a'cast substantialty equivalent to the �.
<br /> �� ?i".'�.."'�:5�'"' - ;�. COSt ts Borrower of the mortgage insurance previously in effea, from an altemate mortgege�insurer approved by L.ender. If
<br /> - •�� '" • substantially equivale,�t mortgaga insurance covemge is noi available,Borrower sha11 pay to I.ender each month a sum equal w
<br /> �� '. � � ot�x-twelfth of the y�y mortgage insurance premium bein;�paid by Boaower when the insurance coveTage lapsed or ceased to ___:.
<br /> _ •-' L;.��,�� • �...�, be in effect.Lender will accept,use and retaia these payments as a loss reserve in lieu of mortgage insurance. Loss reserve �
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<br /> -''�I� • Form 3l�28 9/90 ��.�'
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