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<br /> Q 106369
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<br /> � --- -- � S. L�le�rd or Properly las���nc�. Rnrmwer Fhall k!�p the impmvemenu nnw exilff�`hercafter er+ected on the
<br /> ---:_
<br /> __� Property inwred Against lus9 by t�re.hazercts includod within the�e�rn "extendod coverage" and ony other haurds, including
<br /> floods or flooding. tor which L.ender rcyuiroa insu�ance. 1'hia insuranca xhull be mointninod in�he Amounts And fo�the pcdods
<br /> thut l.endcr requims.7'he inwrunee carrier providing the insurance shall be chosen by &�ROwe�subJect ta I..ender's upproval
<br /> which shall not be unreasc�nably wlthheld. If&�rrower failc tu mxintoin coverage des�;rihed wbuve, IxnJer muy, st Ixnder's
<br /> � option,obtaln coverage u►protect Ler►der's rights in thc Pmperty in uccordsu►ce with parugrnph 7.
<br /> All insurence poiicies�nd mnew�is shall be acceptable to l.ender and sha0 include a standurd mortgage clause. ixnder
<br /> � _— __ ahall hnve the right to hald the palicin nnd rcnewals. If l.ertder reqtiires, Borrower shall protnptly givc to l.cndcr all receiptR nf �
<br /> '�� paid pren�iums und renewal noticac.ln the event of Ioss.Borrower slwll�ive prompt notice to the insurance car�er and Lendet.
<br /> ��— l.ender may muke proof of loss if nat mede prompdy by Horrower.
<br /> — Unless Lender and Borrower atNerwise agree in writing.insurance praceeds shall be applied to mstoration or repair of the
<br /> Propetty danwged. lf the restoration or repair is economically fea.gible and l.ender's security is not lexsened. If the restorntion or
<br /> — repair is not economically feasible or l.ender's security would be lessened,the insurAnce proceeds ahall be applied to the eums
<br /> -- - secured by Ihis Security Inslturncnt. whethe�or nnt then due, with any excess paid ta Borrower. If Barrower ubandons the
<br /> Propeny. ar daes not unswer within 30 days A notice from I.ender that the insu�ance carrier has offered to settle a cl�im.then
<br /> ��;�;� l.ender may callect �he insurence prace.eds. Le�ider may use Ihe pracexda to repair or restore the Praperty or to pay sumc
<br /> setured by U�s Secudty Insttument,whet6er or not then due.The 30-duy pedad will begin when the notice is given.
<br /> Unless l.ender and Borrower othcrwlse agree in writing, nny applicetion of proceeda to principal shall not extend or
<br /> --- postpone the due date of the monthly payments referred to in paragraphs 1 und 2 or change the amount of the payments. If
<br /> under paragraph 21 the Properry is acquired by Lender. Bo�rower's right to any insurance policies and proceeds resulting from
<br /> v ` '�" Janwge w Qie Pn,perty priur to tl►e acqulsidon shall pass to Lender to the extent of the sums secured by this Secur�ty Instr�ment
<br /> = a,. �.:.z�.�'
<br /> �;��� �� immediately prior to the acquisition. �
<br /> A������1 j`�L_, �_
<br /> —���-- �� 6.Occupancy.PreservWion,MAinteonnce and Protectlon of tfie Property;Borrower's l.oan Appllcat(on; Ixaseholds.
<br />.��P�""k°� "�""'' Bort�•��er slwll accu establisfi,end use the Pro rt as Borrower's rinci al residence wlthin sixt da s nfter the execution of
<br /> .��.�° P9• Pe Y P P Y Y
<br /> ��,�I� .� this Securiry Instrument and shall conlinue to accupy the Property as Borrower's principnl residence for at least one year after
<br /> _—_ -"�"�'.:k:�.,� �he date of occupnncy. unless I.ender otherwise agrees in wrlting, which consent shall not bC unreasonably withheld,or unless
<br /> -�� ���.��� extenuating circumstances ezist which are beyond Borrower's control. Borrower shall not destroy. damage or impair the
<br /> _�?��, ,,,: .�_� Propeny, allow the Property to deterbrate, or commit waste on the Property. Ho�rower shall be in default if a�y forfeiture
<br /> __ actfon or proceeding,whether civil or criminal,is begun tliat in l.ender's gaod faith judsment could result in forfeiture of the
<br /> �� '' �;..r',�2� Property or otherwise materlally impair the lien created by this Security Instrument or I.ender's 4ecurity interest. Borrower may
<br /> cure such a default and reinst�te,as providod in paragraph 18,by causing tne action or procceding to be Jismissed with a ruling
<br /> .�.:�„jA�.,,�,�,�s�::�, ihat, ia i.cndcr's gaad faith detcrnsination, prccludcs Forfciiurc af thc Barrowcr'; intcrest in thc Properiy or othcr maicria! -
<br /> impairment af the lien created by this Secur�ty Instrument or l.ender's security interest. Borrower shall also be in default if
<br /> -- ���r�"'��'^ Borrower,during the lonn s�pplication process,gave matcrially false or inaccuratc infarmation or statcments to Lender(or fa�led
<br /> - '..`��-`�':'`t:"`'"' to provide Lender with uny n�aterisil infornwtion)in cnnnection with the loan evidenced by the N�te, including,but not limited
<br /> .�� �• �• •�• � � to,representations conceming Burrower's occupancy of the Property as a prfncipal residenre. if this Security Instrument is on a
<br /> '�`��"y�"�`� leu�chold. Borrower shull comply with all the provisians of the lease. If Burrower acquires fee Ntle to the Property, the
<br /> ' ���"~""�'�"�*.'��� leasehold and the fee ttde shall not mergc unless L.endcr agrecs to the merger in writing. —
<br /> ' ,�f;�,'`, �.y, ` 7.P�+ntection ot i.ender's Righte In the Property.If Borrower fails to perfarm the covenants and agrcements contained in
<br /> �- • -�� this Security Instrun�en[,or�here is a legal praceeding thut may signiiicuntly uffect L.ender's rights in the Property(such as a —
<br /> ; � v,.�.s,,.'.�._,; �
<br /> . .»:.o�. proccoding in b�nkruptcy, probate,for condemnation or forfeiture or to enforce luws or regulutions),then i.ender may do And
<br /> - �~• � pay for whotever is necessary to protect the valuc of the Property end l.endcr's rights in the Praperty. Lender's actions may
<br /> � �;,t�:;;y�---:. include paying any sums secureci by a lien which hac priority uver this Security Instrument. uppcaring in coun, paying
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<br /> �"'��� , •. t reasonable attorneys'fces und enreriug nn the Pmpcny to make repairs. Although Lender may take action under this paragraph
<br />� '•��-"'`�''' 7,L.ender does not have to du so. -
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<br /> Any amounts disbursed by Lender under this paragraph 7 shall become nddition:d debt of Borrower secured by this
<br /> = r.• •. Secu�ity [nstrument. Unless Bonower und Lender ugree to othcr terms of payment, thesc:wnounts shnll bear interest from the —
<br /> ' '�'v �<•�`"'�" date of disbursement at the Note rate and shall be p�yable, with interest, upon notice from I.ender to Borrower requesting
<br /> -=a-�'• ., payment.
<br />=���,�p�„ ,� x 8.Mortguge Insuranee.If Lender required mongage insurunce as a condition of malcing thc loan secured by this Security _
<br /> _}� �;w,�; �.; ;�__'_-� Instrument,Borrower shull pay the premiums reyuired to maintuin the mortgage inwrance in effect. If, for any reason, the
<br /> � �, mortgage imurance coveruge reyuired by Ixnder lapu,or ccascs to lx in cffixt, Borrower tihall pay thc pnmiums reyuired to
<br /> �: .. obtain coverage substantial ly equivalent t��the mortgage inauranre previously in efl'ect,ut a cost subs�untiully eyuivalent to the —
<br /> '� - ��•��" �� cost ta Bortower of the mod a e insurancc reviousl m efPcct. from un aUcrnute mon�a � in,ur�r a roved b Lender. If
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<br /> , - ' substantially equiv:alent mortgu�e imurance cuvcru�;c is not uvailable. Borrawcr shull pay tn I.ender cxh month a sum equul to —
<br /> •i� ;� one-twelfth of the yearly mongage insuruncc premium bcing paid by Horrowcr whcn thc in.uranrc covcruge lupsed or ceased to —
<br /> � •� � ..
<br /> ' bc in eife�:t.Lender will ar�ept, usc und retain thctic paymcnu as a lo�s rc�c�ve in licu of nwtigagc insurancc. I.osti reserve =-
<br /> - �� . Forn,3028 9I90
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