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<br /> S. Hazard or Property losurance. Bonower sball kcep the improvements aow cxisting or hereafter erected o�th� �
<br /> Property iasured aBeinst luss by 6re, i�uxord�iaclud�wieS�tn Yhc term"cxtcnded covern;e" a►�d any other haaards,iucluding
<br /> poods or floocllug, for which Lcndcr requirco inaurance.This innuranr.c shuQ be malntuincdi�t�aa�aountsand for the periods ,. ,
<br /> � that I.endvr requires.The insuranee cnrrir.r providIng the insurance ahal�be chosen by Borro�r+er s►.lmject to Leader's approval �L;: ;
<br /> �� • which sGaQ not b�unreneannbly withhel�. 1�Sorrower fc�ls tv maiutain coverage descritxd o'rovc, Lcndcr may, at Lender's '��"`'�`'
<br /> ' option,obtain cavcra�o Gv ptatr.ct Lendcr'�rig61s in thc Property in uccordancc with Pazegra�t�7.
<br /> All insurance potiaias and renewnL�,shall bc accoptablc to Lc:nder nnd Rhall include a etnndurd mortgage clnuse. Lcnder , "
<br /> shall huve the right to hold the poltciea end renewnls,lf l,cndc�rcyuires,�nrrower shell promptly give to Lcnder nll rc�c;iptx of
<br /> pald pr�miumsand renewnl nod�es.ln tha ovant of lasa, Borrower ehall giva��romptnoticu to tho insurnnce currier unJ I.�;ncier. � �.
<br /> LcnAcr may mnke proof of loss if not mado promptly by�orrowcr. -����4<���
<br /> Unlc�l.c«dcrundDorrowcrochonvisoo�g�cnin writing, innurancopracocdeRhall bc appllccito restorattonor rcpairof thc , _'`:'"".
<br /> „ , Praperty demagcd,ff thc restoratlonor rcpair is ccannmicully t�nsiblc end Lcndcr's Fccurity is not tcFSCncd.lf thc rc�storutiunur -��,�a;;.�--
<br /> rcpair is not cwnomicalty fcasible or Lcndcr'�eccurity would bo lcisscncd,thc insurana;procccds�shaU be applicd to thc suma ; ��..t���
<br /> , sccurcd by this Sccurity lnstrument,whctbcr or not thcn duc� with any cxcc:ss paid to Borrowcr. If Borrowcr abandonsthc �..;i�=='�
<br /> � Peoperty,or dces not answor within 30 days n notico from Leuder that tho Insuronce carricr has otieeed to 6ettlo a claim�thcn � P - -
<br /> � Lendcr may wllect t6a insurance proax�s.Lendc�may usc thc prorxeds to repatr or restore the Prn�erty or to pay eums :"__ _____
<br /> securcd by this Security Instrutucnt,whether or nat then duc.'�'hc 30�day period will bcgin when the notice is given. � '�� _..__..�_.-
<br /> Ualess I,eader and Borrower oi6arwise agrce in wrldog, any applicatlon of proceeds to principal shall not extend or _ __.`T=-=-.
<br /> � postpone the due date o£the monthl�pu�ments referred to in paragrephs 1 and 2 or change the amount of the paymeata. I f ���,_4
<br /> underpart�graph2l the Propertyis acq�uredby I.eadur�Bonower's right to any iaswancepolicies and proceedsresulGng from � ,T •-"'�°
<br /> damageto the Property prior to the acquisidon shall pass to Leuder to the extent of the sums securedby this Security Iustrument ���.�� _
<br /> unmediatcly prior to the acquisition.
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<br /> �e 6. Occua�xacy, Preservadon�M�intenracx and Protection ot the Properiy; Borrmrw's 3.oan Appi�r.atioa; �acfuuius.
<br /> � Bonowershall occupy, establis6,and use the Properiy as Bonower's priaapal residencewithin sixty days after the execution of '
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<br /> �`��.•�� this Security Instrumentand shall contiaue to aceupy the Property as Bonower's principal residence for at least one year after "�
<br /> the date of orcupaney,unless Lender otherwise agrees in writing, w3uch conseni snau nui��uw�ascnabIyrlitlsl�eld,�r ssnlP..s..� --' - f-
<br /> . ,;,;;. extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, dnrnage or impaic the �' •�
<br /> ,,: ': Propert}r,allow the Property to deteriorate,or commit waste on the Property.Borrower shall be In default if aay forfeiture '�:' ,�
<br />" �';�;�;;•; ' action or proceeding,whether avil or criminal,is begun tl�at in Lender's good faith judgment could result in forfeiture of the
<br /> .•�'�```•`� Property or otherwise materially impair the lien createdby this Security Instrumentor Lender's secwity interest.Bonowermay
<br /> �,,�'�� cure such a default and reinstate�as provided in para�aphl8, by causing the action or proceedingto be dismissed with a ruling
<br /> • • that,ia Lender's good faith determination,precludes forfeiture of the Barrower's interest in We Property or other materia! -
<br /> ;���:,, impairmunt of the Gen createdby this Security Instrwnentor Lender's security interesG Borrower s6all also be in default if
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<br /> :•�•'�� Honowar,dur�ng the toan application proceas,gave materially false or inaccurateinformadonor statementsto I.ender(or failed .
<br /> '��,ti� , ' to provide L.enderwith any materialinFarmation)in connectionwith the loaa evidencedby tbe Note�including,but not limited = __.. -
<br /> �..: �. . to� representationsconccrningBorrower's occupancy of the Prapertyas a prinapal residence.If this Security Lastrumentis oa a '� —
<br />"�' �°'. leasehold,Bonower s6aU comply with all the provisions of the lease. If Banower acguires fee tide to the Property, the =�'l'-�"`"�
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<br />-;,`�:��.: "-�- lease�ald and the fe�tide shall not merge unless Lender agrees to the merger in writing. �-----
<br /> `.,�'.`�: . 7. Protudon of�.tader's Riqhts in the Property. If Honowerfails to performthe covenauts and agreementscontainedin ot':::----
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<br /> ,;:,�sY =�; �g�urity Inshvment,or thore is a legal proceedingthat may significantly effect Lender's rights in the Property(such as a =*�_ -- --
<br />;}t•' ...„ proceedingin bankruptry,probate,for condemna6onor forfeiture or to eaforce laws ar regulations),then Lender may do and =__- �"
<br />= '_. ,. , ',r� pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property.l.ender's actions may R-
<br />�' • include paying any sums secwed bY a lien which has priority over this Security Insmunent,appearing ia court, payin8 __ ---� _
<br /> -sa''r '" . reasonableattorneys'fees and enteringon the Propertyto makerepairs.Althoug�Lendermay ta�e ac�ion underthis paragraph ___
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<br /> -,,; �.�::.'� � 7,Lender does uot have to do so. �
<br />'k'��';':�fi�;��."':. pny amounts disbursed by Lender uader this paragraph 7 s6aU becrnme additional debt of Bonower secured b this �`-""-'�'"`� ______
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<br />-�--�'�• ��-�• Security Instruraent.Unless Bonower and Lender agrce to other torms of payment,these amounts sball bear interest from the �:
<br />'-=`�''''�^'' date of disbursement at the Note rate and Fhall be payable, with interest, upon notice from I.ender to Bonower requesting —
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<br />";��� i:�;:'" payment. 1�:;�"i`,=�- -
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<br /> S. Mortgage Iusuranee.If Lenderrequiredmortgageinsaranceas a conditionof m�!dr►g theloansecuredby this Security ,� r�;..�.�.
<br /> " Iastrument,Borrower shell pay the premiums required to maiutain the mortgage insurance in effect. I� for any reasou,the _;��,���:;,:
<br /> � mortgage iasuranee coverage required by Lender lapses or ceases to be in et�ect,Horcower shall pay the premiwns required to '�•:'-.;�----------s
<br />� obtain ca�'eragc substantially equivalent to the mortgage insurance previously in effect,at a cost substantielly equivalent to the ,;,J�� �:.
<br />_ �• ' cost to Bur�ower of the mortgage wnucaace previously in effect, fro�an alternate mortgage insurer approved by Lender.If '�'.l,'i::!'ti_�.�-���
<br />- � substs���ally equivaleut mortguge inaurance coverage is not availa'�2�,Borrower shall pay to Lcndcr oach month a sum equal to �� 7;,�, r1,,
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<br /> • one-twelFth of the yearly mortgage insurance prcmiumbeiing paid by Bonowerwhen the insurance covcrage lapsed or ceased to �:.��:_. ;ys`�,
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<br /> ' bein effect. I.enderwill uccept,useandreteinthesepaymentsas a loss reservein Geu of mortgage insurance. Loss reserve • • ;;3���•",;y-'. _
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<br /> -" , Fam 3028 8/90 "' '-
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