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<br /> S.flozard ur Property Insurance. Borrowcr shnll kcep tho improvcmcnts now cxisdng on c�reaftcr crcx;ted on tho Prapen� ., � ,
<br /> insurcd ageinst loss by Cua, hcu.ards includcd within Iho tcm� "cxt�cndcd covcmgo" ond any othcr hor.ards,lncluding AoQCi�nr
<br /> flooding,for which I.cndcr rcqulres insurancc,This insurnncc shall b�maintnincd in�hc umount9 and for thc periads that L.cndcr �r
<br /> rcquires.Tl�o insurancc carricr providing thc insueancc shall bo choscn by Borrowcr subjcct to Lcndcr'a opprovul whi.ch shap nat :
<br /> ` bc unrcasonnbly wi�hhcid. If Borrov�cr falls to mAintain covcrago dcscdbed abavc, l.cndcr �nay. nt Lcndcr's opiion, obtafn
<br /> .�Kp.;�, covcrago to protect Lender's rights in tho Pro�ny in accordancc wiil�paragrnph 7. •
<br /> ,,,,, AU insurance policics and rencwals shall b�aca:ptablc to Lcndcr and shall inc(ndc a standard mortgage clauso.Lcnder shull ,
<br /> huve the right to hold tha polIcics and renewals. If Lcnder rcquires,IIorrowcr shuU prompily givc to Lendcr all rcc�ipls uf paid „ :
<br /> prcmiums and renewal nodces.In the event of loss,Borrowcr shall givc prompt rotice w tha insurance caaicr and Lcnder.L.�ndcr � • . . _
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<br /> mny makc proaf of loss if nat made prompdy by Bo�rowcr. -, " ..:�;,��_:,
<br /> Unless Lendcr and Bonower otherwise aBrec in writing. iriswance proceedg shall bc applicd to reswratiore or�+epair of thc • ���rs'.n�- T
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<br /> Praperty damt�ed,if tho reswmdon or rcpair is economicnlly fcasibla and L.endcr's sc�urity is not lessened.If thc restoration or � ,�.,:_
<br /> repai�is not economtcuUy feasiblo or l.ender's security would be Iesssf:ned,tlie insutance pcoceeds shall bc a�pGed w the sum.> �''--
<br /> �ecured by ihis Security Insuument, whether or not then due, with any excess paid to Borrower. If Borrower abAndons the ��.��� .�'�'=--
<br /> Property,or does nQt answer within 30 days a nadca from Lender that the insurance carrier has offered W settle a claim.then ��` t•`•'�� �
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<br /> T..�der may collect the insuranee proceeds.Lender mny use the proceeds to repair or msmre Uie Property or to pay sums secured ;;;��' _
<br /> by thL9 Seciuity Instrument,whether or noi then due.'Ilte 30-tlay period will begin when the nodce is given. ,;.; '
<br /> = Unless Lender and Borrowea otherwise agcee ia wrlting,eny applleation of proceeds to principal shall net excend or postpone �.��;.?,�:--
<br /> the due date of the monthly payments rcferred to in paragraphs 1 and 2 or change ths amount of ihe payments.If under pazaigraph �`
<br /> � 21 the Property is acquired by Lender.Borrower's right tn sny inswrence policies and proceeds resulting from damage to the :_fl�: �V----
<br /> ;�, ProperYy prior to the aaquLsidon shall p�s to Lender w the eatent of the sums secured by this Security Tnstrument iunmediately ^�Q:�.�-
<br /> priar to the acquLsidon. ,
<br /> 6.Occupstacy,Preservydon�MaLttenance and Protectbn of the Propertyi Borrower's Lostn Application;Leasebolds. ���=-__
<br /> �ormwci shall occe�py.establish,and use the Property as Borrower's principal Eesidence withtn sixty daya after the e�cocutioa of o;;�:,,,,�-_
<br /> " � this SecurIry Instrument and shall condnue to occupy the Pcoperty ns Bormwer's principal cesidence for at least one year aftei the '�, i �
<br /> " i�; date of occupancy, unless Lender othenwise agrees in writing, which consent shall not be unreasonably withheld,or unless ' ' F
<br /> ,'�;-;_, extenuabina eireumstances exist which ere beyond Borrower's control.Sorrower sGall not destroy,dstmage or impair tha Pro�ecty,
<br />- • • �•���+:;` allow the Property w detcriorate, or cummit wa�te on the Propc�ty. Borrower shap bo in defauit if eny forfeiture action or '
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<br />_ pror,ecding,wh�ther civil or criminel,is begun that in I.ender s good fnith judgment cou.d result in forfeiaue of the Proputy or s
<br />-�;:� :�� otherwLse materially impair the Uen created by thls Securery Instrument or L.ender's securIty interes�Borrower n�ay cure such a .
<br /> . ,.�, default and rein,vtate,as pmvided in paragraph 18, by causing ihe action or procceding w bo dismissed with a ruling that,in
<br /> ,;;:• L.ender's good f�ith datarminadon.preclude.s forfetture of the Borrowe�'s interesx in tha Pcopeity or a�iher material impaimient of �.;
<br />-- .. 'i�', tha lien created by this Security Instrument or Lender's security interes2.Borrower shall also be in c�e�Fault if Bocrower.d�ting tt�e s�
<br /> • • �• loan epplicadon process,gava materially faLse or�naccurate information or atatements W Lender(or failed w provide I.endee with
<br /> any ma�erial inforrnation) in wnnectIon with the loan evidenced by the Notc, including, but not limiud to, representadons ,
<br />�" • � . , conceming Bonower's occnpancy of the Praperty es a principal restdence.If this Security Instrument is on a Ieasehold,Borrowu ��.
<br /> shall comply with ail the provisions of the lea9e.If Borrower acquires fce atle to the Property,the leasel�old and the fee btle shail -
<br />_� , ; � not merga unless I.ender�tes w the mesger in wri¢ing. �`.�%�"
<br /> '�:i,.s�,: .;:;_� � 7.Protectloe of I.ender's Ri�hts[n the Property. If Bomower fails w perform the c:ovenents and egxee�nents contained i*►
<br />=`•"'•��'" � 3his Securiry Insuument,or there is a legal proa�ding that may signi�icandy affat Lender's dghts in t�e Prc�perty (s�ch es a '�� -
<br /> •�-���`�'"'� �� . proceeding in bankrupECy,probaus.fur candemnadon or fixfeiture or to enforce laws or tt:gulnrions),then Lender may do and pay
<br />=°�"°. '�� �1z for what�ever�s necessary W pmtect the vulue of the Propecty end Lender's rights in the Prope�ty.I..ender's ac6�ns r.nay include
<br /> - .. �'� '':: PaYing any s��ms secured by n lien which has pdority over this Securlty Instnuneat, aPP�B in co�ut,PaYlnB reasonabla
<br /> r.-_:-- � . �,�'� attomays' fees and ente�ing on the Property to malce repairs.Although Lendet may take acdon under this par2igr�ph 7,Y..encler _
<br />-'�,x;;•`.tir ,!� � does not have to do so. R_•--
<br /> �"� Any smonnts disbursed by Lender under this paragiaph 7 shall become adsliHona!debt of Boirower secured by tbis Securlty -
<br />�"�"'�=�� �J";.`. r InsuumenG Unless B�irowcr and L.ender agroe w other tecros of payment,thest�emonnts shaU b�Ar inteiest from the date of
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<br /> -'�' ""r"�°Y'% " disb�usement stt the Note rate and shall be a able,with interest,upon nodce from Lender W Sorrowr.r r uesdn enG :'—
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<br />�'.� .�- ; � ' 8.Mortgage Insurance. If Lender reqaired mortgage insurance av a condidon of making the loan secared by this Sc�s:ur�iy �--
<br />;:�;r'"� � Instrument, Borrower shsill pay the premiums requiral w maIntain th� mortgage insurance In effecG I�. foi nny reason,the 4`°- _ ----
<br />�:"; • anortgage insurance coverage required by Lender(apses or ceascs to be in effect,Borrower shall pay tho prera�ium.� required to -------=-
<br /> .. � • obuun covs,mge substantially cquivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the ------- -
<br /> b cast W Boamwer of thc mortgege insurance previously in effect,from an altemate mongage insurer approveal by Lcnder. Iff _ �.��
<br />_� : substandally eyuivalent martgaga insutance coverage is not avnilable,Borrower shiill pay to Lene�er each month a sum equal to ;��`;�1��±��.•
<br /> � . on�twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage l��sod or ceased to � ._ .}:�•
<br /> , Q�c in effect Lender will accept, use and retain thcse gayments as a loss rescrvc i�lieu of mortgage insurflr�ae.Loss mserve ��'i.'' �'"'` =`��°°M','`�'
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<br /> - Form 502� 9i90 " -F:�r'•.:' •
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