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<br /> S. Hnz+trd or Property Incurance. 8otrawer shull k�ep d�e improv�m�nts naw exi:;ting ur hrrei�fter erected an ttte I �;'z.;
<br /> Propeny insurtd eguit�yt lutiy hy fice, huzurds i�x;luded within d�c tern� "extended coveragc" i►nd �ny��thcr I��r.xrd:�, including I
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<br /> , flaxis or tlaxiing,for wbich Lr.nder requirrs insurcin�r. This insurance sl�all he maintxined in Ai� .uuuunt:t and far d�e periods _
<br /> � d�ut L.ender reyulres. The insuratice currier pnrviding the ii�surance shaq be clios�n by Borrower tiubject to l.ender's approval� '�:".` _
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<br /> which sbnli ncx tx ucueasunxbly wlthheld. IS'Banower fails tn maintaln coverage described atxrve, l.�nder may, at Lender's� ,.���__
<br /> opdon,obtain covers�ge to protect Lender's rights ln the Yropeny in accordaance with p:uagraph 7. �,s.�;�;._
<br /> All Insurance policies and renewuls shall be acceptable to Lender and shall include a standard mortgage clause. I.xnder ___-
<br /> � shall have the right to liold the policies and renewals.If I.ender tequires,Banower shall promptly give to Lxnder all receipts of� ,. �`°.���
<br /> � paid premiums and renewul nodces. In the event of loss, Borrower shall bive prunipt nutice to the ii�urance carrier and I.endrr.� --- _-_
<br /> � Lender may make proof of lass if not made promptly by Bonawer. �` �
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<br /> Unless I.ender and Bonower otherwise agree in wriqng, insurance proceeds shall be appYied to restoratlon or repair of the� ..,+�.�'�,>-:
<br /> ' Property dawaged,if the restoration or repa3r is economically feasible and Lender's security is not lessened. If the restoradon ar� __
<br /> � repair is not economically fe�►sibla or I.erder's secutity would be lesseaed,the insurance proceeds shall be applied to the sun�s .;;
<br /> secured by this Security Instrunient, whether or not then due, with any excess paid to Horrower. If Banower abandons the d--�,�
<br /> . I Property, or does aot answer within 30 days a nodce from I.ender that tlie insurance carricr has offered ro setde a claim, then �
<br /> . � Lxnder may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property ar to pay sums �_
<br /> , secured by this Security Instcument,whether or not then due.The 3U-day period will Uegin when the notice is given. __
<br /> Unless Lender and Barrower otherwise agree in writing, any application of proceeds to principal shall not eacend or �,_
<br /> postpone the due date of the monthly paymenu refened to in parx�caphs 1 and 2 or change the amount of the payments. If �g
<br /> ' under paragraph 21 the Property is acquired by Lender, Bonower's right to any insurance policies and proceecls resulting tFrom _
<br /> damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Ia�tcument _� Y"c
<br /> � immediacely prior to the acquisirion.
<br /> 6. Occupancy, Preservation,Maintenance and Protectton of the Property;Borrower's Loan Application; I.easeholdg•
<br /> � Borrower shall oaupy,establish,and use the Property as Bonower's principal residence wirhin sixty days after the execudon of
<br /> { this Security Insaument and shall continue to occupy the Property as Honower's principal residence for at least one year after
<br /> � the date of occupancy,unle.ss Ixnder otherwise agrees in writing, which consettt shall not be unreasonably withheld, or unless
<br /> extenuadng circumstances exist which are beyond Boaower's conuol. Borrower shall not desuoy, damage or impair the
<br /> �. Propeny, allow the Property to deteriorate, or comuiit waste on the Properry. Borrower shall be in default if any forfeiture
<br /> � action or proceeding,whether civil or criminal, is begun chat ia Leuder's good faith jud�nent rould result in forfeiture of the
<br /> Property or othenvise materially impair the lien created by this Security Insuument or Lender's security Interest. Borrower may
<br /> cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed wlth a niliag
<br /> - !has. itt T rnder•s ncx�d faith detetmination, precludes forfeiture of the Honower's interest ia the Property or other material �-_ _
<br /> _1 impairment of tLe lien created by tlus Seciulty Insm�ment or Lender's security interest. borrower shall �inu bc Ia default i: �.
<br /> � Borrower,during the loan applicadon process,gave materially false or inacturate infannadon or statements to Lender(ar failed �:�,��,_
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<br /> t I to provide Lender witli any material informadon)in connecdon with the loan evidenced by tlie Note,including,but nat limited ��. ,
<br /> , to, represcatadans conceming Bonower's occupancy of the Praperty as a principal residence. If tlus Securiry Insuument is on a �.�_:,��;_
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<br /> � leasehold, Borrower sh�ll comply with all the provisions of the lease. If Borrower acquires fee tide tv the Property, che �,
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<br /> ' lcasehold and the fee tide shall not merge unless I.ender agrees to the merger in writing. �:
<br /> � 7.Protedion of Lender's Rights in the Propecty.If Bonower fails to perform the cavenants and agreements contained ln fi;,.;
<br /> �- this Securiry Instnunent, or chere is a legal proceeding that may significantly affect Lender's dghts in the Property (such as a �,;!.
<br /> ' rabate, for condemnadon or forfetture or to enforce laws or regulations), then Lender may do and �• '-�"
<br /> � proceeding in bankivptcy, p _�__ —
<br /> pay for whatever Is necessary to protect the value of the Propeny and Ixnder's rights in the Property. Lender's acdons may �
<br /> � include paying any sums secured by a lien which has priority over this Securiry (nstnunent, appearing in cotut, payiug �:,:
<br /> reasonable attorneys'fe�:s und entering on the Property to make repairs. Alchough Lxnder may take ac•tion under this pacaBraPh �,,;�.
<br /> ' 7, Lender dces not hxve to do so. �`�=
<br /> � Any amounts disbursed by Lender under this pacagraph 7 shull become addidonal debt af Borrower secured by tttis ��?'i=-
<br /> Security Instnuuent. Unless Bonawer and Lender agree to other tern�s of payment, these amounts shall bear interest from the �--,:�-.
<br /> date of disbursement at the Note rate and shall be payable, with interest, upon nodce from Lxader to Borrower requesting �'�
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<br /> . PaYment. �'��� _
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<br /> S.Mortgage Insurance. If Ixnder required mongage insurance as a condidon of maldng the loan secured by this Securiry ,.:;����
<br /> instniment. Bonower shall pay rhe premiums required to nLVntain the mortgage insurance in effect. If, for any reason. the ,;�:�-: _
<br /> mortgage insurance coverage required by Lender lapses or ceases to be ia effect,Borrnwer shall pay the premiums required to '•'�;�.�;�L��•-�
<br /> obtain coverage substanaally equivalent to the mortgage insurance previously in effect, at a cost substandally equivalent to the �
<br /> cost to Bonower of the mortgage insurance previously in effect. from an alternate mortgage insurer approved by Ixnder. If .
<br /> substantially equivalent mongage insurance coverage is not availaUlr„Bonower shull pay to Lender each month a sum equal to �
<br /> ; one-twelfth of the yearly mortgage insurance premium being pxid by Bonower when the insurance coverage lapsed or ceased to
<br /> be in effect. ixnder will accept, use and retain these payments as a loss reserve in lieu of mongage insurance. Loss reserve
<br /> j Fonn 3028 9/90
<br /> '� ��BRINEI wz+t�.os Ppe 9 ot 8 ����.�•: .
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