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<br /> S.H�rd or Property Iasurance. Borrower shall kcap thc improvcments now cxisting on c�rcaftcr crcctcd on thc Property � --
<br /> insured againat loss by firc, hazards includcd wlthin tttc tcrm "extcnded covcragc” and any othcr htu.tuds, including �loods or i .,�,:s`;'M-'
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<br /> , flooding, for which Lender requires insurence.This insurence shall be maintained in the amaunts and for thc periods that L.cnder i � �,�,:;..:
<br /> , requires.'Ihe insurance carricr providittg the insurance shull be chosen by Aorrower Qubject tn L.ender's epprov�J which shull not � s _ _..._����'
<br /> be unreasonebly withheld. If Borrower fails to maintair► coverage descdbed abave, Lender may, at Lender's aption, obtain � _ --
<br /> ,�� •' � covcragc to protect Lcndcr's dghts in thc I'roperty in accordancc with paragraph 7. ,
<br /> ^ Ali Ins�uanco pollcies and renewals shall be acccptssble to Lender and shall include a standard mongage clause.Lender sh �. �.;`
<br /> havc the dght to hold the policics and renewals.If Lendcr requires,Bomnwcr shall promptly give to Lender all reccipts of pai� ;, {`_-
<br /> premiums and renewal nodces.In the event of loss,Borrowcr shall give prompt notice ta the insurattcc canier end L.endcr.I.ende� '_
<br /> may make proof of loss if not mada promptly by Boaowcr. �� - ---
<br /> Unless I.ender and Borrower otherwlse agree in wridng, insurance proceeds shell be applled to restoradon or repair of� �``"�
<br /> Property damaged,if thc restoradon or repair is economically feasiblo and Lcnder's security is not lessened.If the restoration o� � ..
<br /> ' repalr is not economicaUy feasible or Lender's seciuity would be lessened,the Insurance proceeds shall be applir.d co the sums
<br /> secuced by this Security I�istrument, whetGer or not then due, with any excess paid to Boaower. If Borrower abandons the ^ __
<br /> • Property. or does not enswer within 30 days a nodce from I.ender that the insurance caaier has offered to seule a claim,then ' . ,. -
<br /> Lender may collect the insurance proceeds.Lender may use the proceeds w repair or restore the Property or to pay sums secured ,
<br /> by thls Security Instrument,whether or not thcn due.The 30-day perlal wUl begIn wlicn the notice Is glven. _
<br /> Unless I.ender and Borrower otherwise agrce in wrlting.any appllcation of proceeds to principal shall not extend or postpone
<br /> the due date of the monthty payments referred to in paragraphs 1 and 2 or change the amount of the paymenis.If under paragraph -
<br /> 21 the Property is acquired by Lender,Borrower's right to any insnrancc policies and proceeds resulting from damagc w thc .. -
<br /> '�. Property prior to the acquisiHon shall pass to I.ender to the extent of the swns sec�red by this Securlty Instrument Mmed3ately -�
<br /> prlor to ihe acquisition.
<br /> . � 6.OccupAncy,PreservaHon,Maintenance and Protection ot the Property; Bonower's Loan Applicatton;Leaseholds.
<br /> •^�' Borrower shaU occupy,establlsh,and usc the Property as Borrower's principal residence within sixty days after the execution of
<br /> this Security Instrumant and shall continue to occupy the Property as Sorrower's princlpal residence for at least une year after the
<br /> � da�e of occupancy, unless I.ender otherwise agrees In writing, which consent shall not be unreasonably withheld, or nnless _
<br /> extenuating circumstances exist which are beyond Borrower's control.Borrower shall not destroy,damege or impair the Property,
<br /> � alIow the Froperiy i,�dcicriurutc, vr cvr�iuut w�t��a tho Fra�rZiiy. Bo�,owec sha22 !k, ia dcfault if any farfciiure act�an ar _
<br /> •�. proceeding,whether civil or crIminal,is begun that in L.ender's good faith judgment could result in forfeiwre of the Property or -
<br /> otherwise materlally impair the lien created by this Securlty Insm�ment or Lender's securlty interesG Borrower may cure such a
<br /> ' default and reInstate,as provided In paragraph 18,by causing the action or proceeding to be dismissed with a ruling that, in - ,
<br /> I.ender's goad feith determination,precludes forfeiture of the Boaower's interest in the Property or other material impairment of
<br /> the llen created by this Sec�uity Instrument or Lendei's security interesG Borrower shall aLso be in default if Bocrower,during the _
<br /> loan applicadon process,gave materially false or Inacc�rate informadon or statements to Lender(or failed w provide Lender with
<br /> any material informadon) in connection with the loan evidenced by the Note, including, but not limited to, representadons ` �
<br /> conccrning Borrower's occupancy of tho Property as a principal residence. If this Security Instrument is on a leasehold.Borrower
<br /> shaU comply with all the provisions of the lease.If Borrower acquires fee title to tha Property,the leasehold end the fee dtle shaU �`=�'°�'°"'—
<br /> nnt merge w�less Lender agrees to the merger in wriung. -_
<br /> 7.Protcedon of Lender's Rights in the Property. If Borrower fails uo perForm the covenants and agrcements contained�n "�_�"
<br /> � this Security Instrument, or there is a Iegal pmceeding that may signiticantly affect L.cnder's rlghts in the Pmperty (such as a --- -
<br /> � proceeding in bankruptcy.probate,for condcmnation or forFeiwre or w enfarce laws or regulations),then Lender may do and pay -_--
<br /> t for whatever is necessary to pmtect the value of the Property and Lcnder's rights in the Property.L.ender's acdons may include _ ___
<br /> paying any sums securcd by a lien which has prioriry over this Security Insttument, appcaring in c;ourt, paying reasonable �,';=;;s;._�;:�
<br /> � suomeys' fees and cntering on the Property to make repairs.Althongh L.ender may take action under this paragraph 7,Lender "=x.---.�-
<br /> � doe.c not have to do so. "t` --�_ .
<br />_ ' My amonnts disbursed by Lender unde�this oaraltraph 7 shall become additional debt of Borrower secured by this Securiry , _
<br /> l' Insuumen�Unless Bonower and Lender agrec to othcr tcrms of payment,these amounts shall bear interest from thc date of -� � ,y�._.-
<br /> disbursement at the Note rate and shall be payablc,with interest,upon noace from L.ender to Borrower requesting payment �������.
<br /> ' S.Mort age Insurance. If L.ender r uimd mo e insurance as a condidon of makin the loan socured b this Security � �•�>>���'•-
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<br /> Instrument, Borrower shall pay the premiums required to maintain thc mortgaRe insurance in effecG If, for any reason, thc °�A',. . '�:;�i
<br />_ mortgage insurence coverage required by Lender lapses or ceases to be in effect,Bormwer shall pay the premiums requlred to • '' �
<br /> � obtaiu coverage substantially equivalent to the mongage insurar►ce previously in effr,ct,ut u cost substantially equivalent to the , ' ;
<br /> I cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. If .
<br />= i substantially equivalcnt mortgage insurance coverage is not available. Borrower shall pay to Le��dcr each month a sum equal to � "
<br />= onatwelfth of the yearly mortgage insurance preenium being paid by Borrower when the insurance coverage lapsed or ceased to '
<br />- � be in effecG Lender will accept, use and retain d�ese payments as a loss reserve in lieu of mortgage insurance.Loss reserve
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<br /> . I Form 3028 9l90
<br /> I �•eR(NE)�oz�z�.o, Pap�3 ot 8 Inllitl�: .
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