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<br /> , . ' S.Hazard or Praperty Insurance. Borrowcr sliall kcep the improvements now ca�isting or her�crcxtcd on the Ptopercy �
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<br />_ . ,,:
<br /> . snsured against loss by fue.Ua7ards inctuded within thc term "extended covcrage" and any other ha7ards:inclading tlonds or ` �, , ,,
<br /> �. tlooding,for whicb Leader xequires insurance.lt�is iasurance sGall be maintaineci in the amonnts and for the peciods thai L�nder , ... � . `
<br /> � �-F,�. requires,T'ke insurance paier providing the insuiance shall be chosen by Bo�ower subject�n Lender's appivval which shall aot
<br /> " � - be unreasonahly withheld_ If Borrower fails w maintain coveragc descn'bed above. Lender may. at Lender's optioa, obtain .. - ...
<br /> �' •.
<br /> - -- -- wvaage to protect Lender's rights in the Aoperty in aocordance with paragraph 7. - ' - '
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<br /> � ` qll insurauce policies and reneaals shall be acceptable w Lender aad shall inciade a standard mongage chase.Lende7 shall • ,
<br /> . 6ave the right tn hotd the poliaes and renewals.If Lender requires.Borrower shall promptly give to L.e�nder all receipts of paid : � .
<br /> - precaivaLS and renewal notices.In the event of loss.Bonower shall give prompt notice W Ihe insurance carrier and Lender.Lendu .
<br /> - : may make pmof of loss it nat made prompdy by Borrower.
<br /> " Unless Lender and Boaower otherwise agree in writing,insutance proceeds shall be applied to restoration or repair of the .. . .
<br /> • ,.j Pimpeny damaged,if the restoration or repair is economically feasfble and Leader's seeauity is not lessened.If the restoraiion or ; -
<br /> . . , ,_.� ra�air is not economically feas�le or L.ender's seciuity wauld be lessencA,thc insurance praceeds s6all he aPPlied w the sums ��
<br /> s�.vred by this Secarity Instranmeut, whether or not then due, with any ea�cess paid w Bonower. If Borrower abandons the _� =
<br /> � , ' Property.or does aot answ:r within 30 days a aotice from Lender that the insueance carrier has offered to seule a claim,then - :�-;=�
<br /> , Lender may collect the insurance pmceeds.L.ender raay use the proceeds w repa'a or resmre the Propecty or to pay sams secured . . __.
<br /> � by this Securiry Insu�ment,wheiher or not theu due.The 30-day period will begin when the notice is given. �•. `m'-;
<br /> ° .. Unless l.eader and Borrower otherwise agree in writing,anY aPPUcation of praceeds to prinapal shall not extend or postpone ` •„;,�}_.
<br /> = - • ' ihe dae date of the monthly payments referred to in paiagraplu 1 and 2 or change the arnoant of the payments.If under paragraph _ , � _ � _
<br /> - . . 21 the Propeny is acquired by Lender>Barrower's right to any insurance policies and praceeds resulting from damage tn the .. .�': :-�;'-as
<br /> . �". Propaty prior w the acquisiaon shall pass�L.ender to the extent of the sums secured by this Scxurity Insuumeat immediateiy ---` `�"•���`�
<br /> �.
<br /> --• • ' priortotheacquisition. ..:���_-'
<br /> = . 6.Occapancy,Presesvation,Maintenance sud Protectton ot the Property; Borrower's Loan Application;l.easeholds.
<br /> �..:'-:'z:�
<br /> Bacrowe.r shall occupy,establish,and ose the Property as Bonowar's principal residence within suty days after the execution of _- • }� .:.�-
<br /> '•, ,K ,
<br /> ,.. �"-� this Sec�uity Insuument and shall continue to occupy the properry as Bonower's principal residence for at least one year after We ;� _
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<br /> date of ocwpancy, unless I.ender otherwise agrees in writing, whicb consent shall not be unreasonably withheld,or unless ��.
<br /> " �, , extenuating circamstances exis�wiuch are beyond Borrower's control.Borrower st�aL�not desuoy,damage or impair the Propeny. '�'"�
<br /> � allow the Property to deterioFate,or commit waste on the Property. Soaower shall be in defaatt if any forfeiuue action or f'��`
<br /> 1.,' . �..'F . �s ,
<br /> � � proccedmg,whether civii or criminai,is begun that in Lender's good faith judgment wuld result in forfeiture of the Property or ;: •
<br /> - � �3 othe,ra+ise materialiy impair ihe liea created by this Security Inswment ar Lender's security interest Borrower may cure such a ---=h_:,_�_�'�"
<br /> �t� : default and reinstate,as provided in paragraph 18.by causing the action or proceeding to be dismissed with a raling that.in ' � . " `� `�':%�
<br /> .- ��;�;.*.
<br /> ' � _.., ,,�: Lenda's good faith determiaation,precludes forfei[urc of the Borrower's intcrest in the Pcoperiy or ather material impairmemt af � :�
<br /> � • � the lien created by this Security Ins�ument or Lender's security interest.Horrower shali also be in defatitt if Borrower,durmg the `� °:'•• --'
<br /> � •, ....:.�
<br /> . . � ' ' "� loan applicatian process.gave materially false or inaccurate informauan or statements to Leader(or fa�ed to provide Lender with .�.. .;�:..:.:-.�__.:•
<br /> _ � - any material infosmauon) in connecaon with the loan evidenced by the Note, including, but not limited to, representations �..�,:,. �
<br /> � � -. '�'�' cancem�g Borrower's occupancy of the Property as a principal residc�se.if this Security Insoument is on a leasehold.Borrowet -. . --,''';"�
<br /> ! � � . 'i shalt comply with all thc provisions of the lease.If Borrowcr acquires fee ti8e w the Property,the lease4�old and the fee tiQe shull . : ��'�`="
<br /> ' • not mearge wiless I.cnder agrzes to ihe merger u►writiag. � ' `����
<br /> ��� 7.Protectian of Lender's Rigdts in the Property. If Boaower fails to perfoim the covenants and agreearenu cantained in --
<br /> � . this Security Instrument, or there is a legal praceeding that may signiticantly affece Lcnder's rights in the Propercy(such as a � ^-"�
<br /> ' " ', •'�:.-�� proceeding in baNcruptcy.probate,for candemnation or forfciture os to enforce laws or rcgulations},then Lender may do and pay . ' ;�as::_
<br /> . ' � for whatever is necessary to protec:cha value of the Pcopeny and Lender's rights in the Property.l.ender's actions may include �`''
<br /> � 'i paying any sums sc�ured by a lien which has priority over this Security Instnunent,appearing in wurt,paying reasonable . . '.. . - -
<br /> y . ,� auomeys' fees and cntering on the Propcny to mtilce repairs.Although Lcndcr may take acuon under this paragraph 7,l.cnder - . . �': .
<br /> docs not have to do so. ' ` `i'``:.' '-
<br /> • Any amoi:nis disbursed by Lender undcr Ihis paragraph 7 shall bxome additional dcbt of Borrowcr secured by this Scxtairy `.':�,�: :
<br /> : Instrumen4 �nless Borrower and Lcndcr agcc to othcr tcrms of payment, these arnounu shatl6car interest from thc da•w of .. ,
<br /> disbursemcnt at the Note rate and sfiall be payable,with intcrest,upon notice from Lendcr to Borrower requesring paymenL • • �-
<br /> �� ' 8.Mortgage Insurance. If Lender required mo»gage insurance as a condition of makin�Ihe loan secured by this Securiry � , ' •
<br /> � � Ioswment, Borrower shall pay Ihe prcmiums required to maintain thc mortgagc insurance in cffcc� If, for any reason, thc ' ��
<br /> � mortgage�su�ancc covcrage rcqnired by Lender Ippscs or ccascs to be in effcct,Borrower shall pay ihe premiums rec�uired to . • :� F:
<br /> °•+. obtain coverage substantiaily equivatent to Ihe mort�age insurance prcviously in effect,at a cost substantially eqnivalent to the ' :;;;^`�.,
<br /> • cost to Borrower of thc mongagc insurancc previously in cffect, from an altematc mortgagc insarer apDrovcd by Lendcr. If ;
<br /> � substantially equivalent mortgase insurance coverage is not available.Sonower shall pay to l.ender each month a sum equal to ' , .
<br /> • one-twelfth of ihe ye�uly mongage insurancc prcmium bcing paid by Horrowcr when Ihe insurance coverage lapscd or ceascd to •
<br /> ' bc in cffec� Lcndcr will accept, usc and retain thcse paymcnts as a loss rescrvc in licu of mongagc insurance. Loss reserve • � ,
<br /> ��;" .
<br /> � Form 3028 9�80 • .
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<br /> , . � �•BR(NE��s2�2�.0+ vago9ni6 romais � .
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