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<br /> S.Hp�rd or Property It�iSUrAnce. Borrowcr shall kcep ihc improvcments now existing on c�rcaftcr crected on thc Prapeny ' _
<br /> insurecl against loss by firc,hxr.ards includcd within thc tcrm "cxtendcd covcragc and any othcr ha•r.ards,including flaods or
<br /> ! pooding,for which Lcndcr requires insurmicc.'fhis insurancc shaU bc muin�ained in thc amounu ar�d for th�pe�n�'whi hAShall not �
<br /> ' requires.'Ihc insurancc canicr providing thc insur,incc shell bc chosen by Borrowcr subject to I.cndcr's app
<br /> bc unrcasonably withhcld. !f Borrowcr feils to maintain c�verngc dcscribcd abovc, L.cndcr may, at Lendcr's option, obtain �
<br /> � cavcragc to protect Lcndcr's rlghts in�he PmpertY in accordancc with paragraph 7. �
<br /> ! All insurance policies and renewals shaU be acceptable to Lender and shall include a standard mortgage clause.Lender shaU ,
<br /> I hava the right to hold the policies and renewals. Ii Lender requires,Borrower shall prompdy give to L.ender all reccipu of paid . _
<br /> � premfums and renewal nodces.In the event of los�,Borrower shall give prompt nouce to the insurance carrier and L.ender.I.ender .�_+'°
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<br /> j may make proof of loss if nat made promptly by Borrower. sh �� ����uon or repair of the
<br /> Unless Lcnder and Borrower otlierwise agree in wdtln8,insurai►ce Procceds. a11 b�app'
<br /> � property damaged,if the restoradon or repair is economically feasible and Lender's security is not lessened.If����e sums
<br /> � repaie is not economicaUy feaslble or Lender's scxurity would be lessened,the insurancc Proceeds she11 b�ePP +�s�
<br /> � secnred by this Se�urity Instrument,whcther or not thcn due, with any excess paid to Borrowcr. If Bonower abandons the
<br /> � Property,or does not answcr within 30 days a nodcc from I.ender that the ins�rance carrier has offered to sctile a claim,then
<br /> L.ender may coUect the insucartce proceeds,Lcnder may use the proceeds to repair or restore the Property or to pay swns secured
<br /> , by this Securiry Insuument,whether or not then duc.'It�e 30-day period will begin when the nodce is given. .
<br /> � Unless I.ender and Borrower otherwise agme in wdtir►S,anY applicadon of procceds to pdncipal shall not extend or postpone
<br /> � the due date of the monthty payments referted to in paragraPhs 1 and 2 or change the amount of the payments.If under paragraph
<br /> 21 the Property is ac9uired by Lender. Borrower's right to any insurance policies and proceeds resulting from damage to the
<br /> ' Property prior to the acquisidon shall pass co 1-ender w the extent of the sums secured by this Security Insaument immediately -
<br /> �. prior to the acquisidon. Borrower's Loan AppUcation;Leaseholds. �
<br /> 6.Occupancy,Preservation,Matatenance and ProteMbn of the Property; `��
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<br /> Borrower shaU occupy.eslabllsh,and use the Property as Borrower's principal residence wlthin sixty days after the execution of � ,� `�
<br /> � this Security Instrument and shall cantinue to occupy the P;operty as Borruwer's principal residence for at least one year after the ':I,4:. __
<br /> 9 � Qf���F�ty, ��nlace Lendcr othenvise aKrecs in writit►8. which consent shall not be unreasonably withheld, or unless _�.4.'�.,� Y�—
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<br /> extenuaung circumstances exist which are beyond Borrower's control.Borrower shail not desaoy,damaBC ui Inpair ihc I'ropertp. �, , ;,�,
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<br /> allow the Property to detcriosate, or commit waste on the Property. Borro�ver shall be in default if any forfeiwre ae:don or � ',,,�,;
<br /> proceeding,whether civil or criminal,is begun that u►Lender's good faith judgment could result in forfeiture of the Property or , �.;,�:
<br /> othenvise materially impair the Gen created by this Sexurity Insuument or I.ender's security interesc.Borrower may cure such a , �,, .;�ti,'
<br /> default nnd reinstate,as provided in paragraph 18.by causing the action or proceedin8 to be dism�ssed w�th 8 ru�B��' � y '•
<br /> Lcnder's goad faith detem�nation, precludes forfeiture of the Borrower's interest in ihe Property or other matedal impalrrnent of � •,..
<br /> the llen created by this Se�urlty Instn►ment or Lender's security inceresG Bocrower shall aLso be in default if Borrower,during the
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<br /> loan appGcadon process,gave materially faLse or inaccurate informadon or statements to Lender(or failed to provIde L.ender with ••,.
<br /> any mateiial infoRnadon) In wnnadon with the loan evidenced by the Note, including, but not limited to. representations ,;���
<br /> concemin g Borrower's occupancy af the Propertv as a principal residena;.If this Security Instrument is on a leasehold,Borrower __�;�, _
<br /> ;. shall comply with all the provisions of t6c lease. If Borrower acquires fee ti de t o t h e P r o p e r t y,t h e l e a s e h o l d a n d t h e f c e d d e s h a l l ����..
<br /> not merge unless Lcnder agrees to thc mergcr in writing. t-�
<br /> 7.ProtecNon ot Lender's Rights in the Property. If Borrower fails to perform the covenants and aSreements contaic►ed in �.:
<br /> � this Security Instrument,or there is a legal proceeding that may significandy�f'fect L en der's rig h t s i n t h e Pro p e r c y (such as a �,_�_-`
<br /> � pracceding in bankrupccy�probate.tor condemnaHon or forfeiture or to enforce laws or regulauons),then Lender may do and pay ��.._.
<br /> for whatever is necessary to pmcect thc value of the Property and Lender's iighis in the Property.Lender's acaons may include i�-���_ v
<br /> � paying any sums secured by a lien which has prioriry over this Securiry Instrument, appearin8 in court+PaYinB reasonable �:'--_,�C.,
<br /> auomeys' fees and cntering on thc Property co make repairs. Although Lcnder may take acdon under this paragraph 7,I.ender
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<br /> does nut have to do so.
<br /> Any amounts disbwsed by Lender under this paragraph�shall become additional debt of Borrower secured by this Security :':� 1,� _..-•
<br /> • � Instrumen� Unless Borrower and Lcnda agree to othcr terms of paymcnt,these sunounts shall bcar incerest from the date of ;,� �4�
<br /> I disbursemcnt at the Note rstc and shall be payable,with intcrest,upon nodcc from Lender to Borrower requesting payment ,��:,�c.. ; �,:�
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<br /> � 8.Mortgage Insurance. If Lender required mortgage insurance as a wndition of making the loan secured by this Security "�`�&w. ._
<br /> � Instrument, Boaower shall pay thc premiums required co maintait► thc mortgage insurance in effecG If, for any reason. the �.�1_
<br /> i mortgage insurance coverage requircd by Lender lapses or ceases to be in effect, Borrower shall pay the premiums re:c�uired to ,
<br /> � obtain coverage substantinlly equivalent to the mongage insurance previously in effcet,at a cost substanqally equivalent to the
<br /> � cost to Borrower of the mortgage insurance previously in effect, from un �ltemate mortgage insurer approved by l.ender. If
<br /> substantially equivalent mortgage insurance covcragc is not availablr„Borrowcr shall pay to L.endcr cach month a sum equal to
<br /> � one-twelfth of the ycarly mortgage insurance premium being paid by Borrower when the insurance coverage IaAsed or ccased to
<br /> bc in effecG Lr,nder will accept, use and retain thcse payments as a loss reservc in lieu of mortgage insurance. Loss reserve
<br /> Form 3028 9/90
<br /> I �-6R(NE)192t21.o� pepe3a18 inaian:
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