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<br /> S. Hpsard or Property Iasurance. 8orrower sholl keep ihe improvementx now exieting or hereafter erected on the
<br /> � Property insured ageinst los.g by fire, ho•r.erds included within the term "extended coverege" and any other hazanl�, including
<br /> flaads or flooding. for which l.ender rcquires insurnnce.Thia insurance shall be n�afntained in thc amaunts and for the perioda
<br /> -.. that Lender requires.The insurance carrier providing the insur•rnce shall be chasen by surrowcr subJcc�to Lender'F upprovel
<br /> ��'���'�''� ' which shall not be unreasonebly withheld. If Borrower fails to mointuin coveruge dcscrihecl alxwe, L.ender muy. ut Lender's
<br /> •-'� option,obtain coverage to protoct I.ender's rights in the Pniperty in accardance with purugrnph 7.
<br /> =-'"-' ' All insurru►ce policies und renewals shnll tx nceeptable to Ixnder and vhell include a standnrd mortgage rlausa. L.ender _
<br /> ��� � shall have the�-ight to hold the policiea und renewals. If l.ender requires, Borrower shall promptly give to Lender all receipts of
<br /> ° ""''°"''� pald premiums and mnewal nodces.In the event af Ic►ss,Bnrrower shdl give prompt notice to the insurnnce carrfer and l.ender.
<br /> • � y ���f� L.ender may make proof of loss if not made promptly by Horrower.
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<br /> ;�:�y,� '- Unless Lender and Bc�rrower atherwise agree in wridng, insurance praceeds shall be upplied to restorution or repair of the
<br /> - _---�;n��- ::� L Property damaged.if the restoration or repair is cconomically fcu.sible and l.ender's�ecuriry is not Iescened.!f the restoration or
<br /> — '��'°��'? ''�� repair is not economlcally feasible ur Lender's security would he lesgened, the in�.urnnre pr�xeeJF shall be upplieci to the sums
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<br /> '�''�`� secured by lhis Security Instrument, whcther ar nat then due, with uny exress puld tc►&►rruwcr. If&�R�wcr abandons the
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<br /> — .t:+"�w PropeRy, or dces na nnawer within 30 days u notice from Lender that the insurunce carrlcr hn.r•uifere{!�o Ketde a rluim,then
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<br /> �"'-'-"�"�,~ � L.ender may c�llect Ihe in�urnnce proceeds. Lender muy use the pr�xcedb t�rcpalr ur �estore Ihc Pruperty ur to puy sumw
<br /> `'`� � R� '•� secured by�hla Security lnstrument,whether ar ncx then duc.The 30-duy pericxl will t►egin wben Ihe nndce ix given.
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<br /> Unless l.ender unJ &►rn►wer���hervvi+� ugroe in wriling. any applicuti�►n of pnxcalti tci princfpul tihall tu�t eatend or
<br /> �+,�� poaq,cmc tl�e duc date of thc monlhly pAymenls rcferred to in pu�agraphs 1 un�l 2 ur chungc thc unK►unt of the psiyrnent�. If
<br /> - - ��'���`� under arn ro h 21 the Pro n iy ac wrecl b L.cnJcr, &rrruwer'.�•i hl lu ru i��tiurun« ►11cic.r und a►cu�ts resultin fram -
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<br /> `;,�r•��._1�.,�Y Jamuge ta the Property prlur tu thc ucyuieitiun sholl puxs lu L.ender to�hc exlcm nt'�he.rwnr xecunxl by tldx Security InetrumeM
<br /> ���;'.�.�:..,. .:� immaliutely prior to ihc acquiaitiun.
<br /> ;:,��..�;' w ���� b.Occupancy,1'reservatlon.Maintenpnce and Protectian oi the Pmperly; &►rrower's Luan Applir�tiun;I.�sehui�Lr.
<br /> �—'�•�� �'"� •"" 8arcower shull accupy. establish,and uxe the Property us Bonower's pdncipul residence within sixty duys ufter the execution af
<br /> `""�= -�� "�'` this Security Instrument und ahall continue ro cxcupy the Praperty nx Borrower's principul rexidence for at least one year after
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<br /> __�•�,��:=• � the date of occupancy, unless Lender otherwise ugrees in writing,which consent�hall not be unrea.sonably withheld,or unless
<br /> ui�`:< .:•: �.'::.: <�t extenuating circumstances exist which ure beyond Borrower's rnntrol. Borrower shell not destroy, damage or impair the
<br /> t Propeny, allow the Prc�perty lo deteriorAte, or commit wacte on the Property. Borrower shall be in default if uny forfeiture
<br /> �=s;��,, .: �� � � � ' action or praceeding,whether civil or criminal, is begun that in Lender's gc�d fui�h judgment could result in fort'eiwre of the
<br /> '-'� ,�=� '•:�'-<�"',;�: , Propeny orwherwise materially impair the lien created by this Security Instrument or I.ender's security interest.Borrower may
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<br /> -- — ° curc aucii a defauit u��l id{ubieir, an provid�i in paragraph iS, by cau�ing ihc aaion or pracccdiog io bc dismisscd with a rul3ng
<br /> -- � " � that, in Lender's good fAith detern►ination, precludes fnrfeiwre af the Borrowcr's intcrest in the Prc►perty or other mater�al
<br /> ,: + impairment of the lien creuted by this Security instrument or Lender's security interest. Barrower shull also be in defuult if
<br /> - 'Y`'"'`� � '' l,'` Borrawer, duri ng the loan appliration process,guve mnteriully false ar inuccurnte i nformation nr stutements to l.ender(or failed
<br /> ,;�,}... '" •�`` �� to provide l.ender with any materinl informution)in connection with the loun evidenced by the N�te, including,but not limited
<br />-- :;:r�,.' , to,represen�a�ians canccrning Borcower's occupancy of the Propeny s�s a princip�l residence. If this Security Instrument is on a
<br /> � . � leusehold, Borrower shall comply wi�h ull the pri►visions of the lease. If Barrowcr acquires fee title to the Property, thc
<br /> -_ leasehold and the fee tide shull not mcrgc unless Lcnder ugrccs to the mergcr in writing.
<br /> - � ;�,.i 7.Protection oi i.ender's Rights in the PropeMy.lf&�rrower fails to pedorm the c�venunts und�greements contained in
<br /> _ �:t�aA • this Security Instrument, or there is n Icgul prcxceding thut muy significantly affect LenJer's rights in the Property(such us a
<br /> -_- pr�ceeding in bnnkruptcy, probate, ti�r condemnution or forfeiture i�r to enti�rce luwx or regulution�), then I.enJer muy do and
<br /> � �'� •- .. pay for whatever is necestiury to pmtect the vulue of the Propeny 3nd L..enJcr's rights in the Property. Lender's uctions may =
<br />.,]'``' • 'tif >� . , include pAying any tiumti secured by u licn which ha+ priari�y nver thiti Sc�uriry Instrument, uppearing in court, puying
<br />"' ' .. rcuxonable �ttorneys'fces anJ enterin}�un�hc Propeny to mnke repuin.Althuugh LenJcr may tuke action under this paragraph
<br /> '�' '�; A ,... 7.Lendcr dacs nat havc to Jo so.
<br /> �. � ., �'` Any mnuunls disburscYi by IxnJer under thix purugraph 7 .hutl t�ecome u�kiitionnl debt uf Borrower secured by this
<br /> _;,;�;_•�„;.. ,,. Sewrity Instn�rnent. Unlexs Borrowcr anJ I.enJcr agree tu other Iernis of payment,thc�c umount.tihall tx:ar intcrest from the
<br /> .., �: , date of disbursement at thc Notc ratc and shall bc payublc, with interest, upon nntice fram l.cnder to Borrower requesting =
<br />= ° payment.
<br /> '�"! � ` , S.MortRaQe Insurance.If Lcnder rcyuired mortgagc insur•rncr us a rondition ol'm•rking tlk lo•rn sccured by this Security
<br /> " .. � . s Ins�n�ment, Borrower shall p•ry tlx� premiwm reyuired ai muintain thc mcirtEuge inwrnnrc in effect. If, f�r uny reusan, the
<br /> � , y„� mongage insurancc covcragc rcyuireJ by I.cndcr lapseti or reuscs w tx in effcct. Borruwcr shull pa�• thc premiums rcquircd Io
<br /> ' ,,;,., ., obtoin covcruge substanliully cquivulcnt to thc monga,�.c insurance prcviou�ly in rff'cct, at a cost tiub�tuntiully cquivulent to the
<br /> ' `�'�`�0�' � rost 1n Borrower of the nxin a�e intiurunce r�viirosl m effect, from an altemate nu�n�a�c insurer u ri►vcd b l.ender. If
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<br /> suhstantiul ly equiv�lent mungugc in�uruncc coverugr i� nnt uvuiluhle. Barmwrr�hall puy t�� l.rndcr cach m�mth u tium cqual to
<br /> � + one-twclfth of tlx yeurly m�xtgugc in�urunrc pn:mium hcing puiJ hy �arruwer whrn thc in.uranrr rav�rugc luptied„r rcaxd tn
<br /> • :�� be in effcct,Lendcr will uccepl, utie aixl retain these payment,us a luti. rc+crvr in licu ul morlgagc inwrunce. I.o�s reserve �
<br /> • �' � Form 3028 8/90
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