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<br /> � S. Na�.ard or Nmpe�hy lnsunuue. Iiarrower shr�ll keep the improvements now cxi�� e�n c�r��f'cer crected on the
<br /> � Propcny insurcd aguinst lo�s by firc, ha�mrds includcs! within thc tcrm "cxtcndul cmeragc" and uny othcr haznrds, including
<br /> tlonds or Floociing, for which Lcndcr requirc� insurancc. Thih insuruncc,hall hc maintaincd in the amounts und for du periods
<br /> • t� that Lcndcr rcquires. Thc insu�anrc cnrricr providing thc insur.mcc shall bc rhosen by Borrawcr subjcct to L.cndcr'ti approvnl
<br /> ` whi�h shall not bc unrcasonably �+�ithheld. lf Don•�«�er f��ils to rnain[ain covcragc dcsrribcd abuve, Lcndcr may, at L.ender's �
<br /> 'rA,t' option, ahtuin covcragc to protcct l..cndcr's rights in thc Property in accord:mcc wsQi pura�ri�ph 7. �;
<br /> + f� All insurance �lir,ies and rencwals shull he acceptable to I..ender und shull include a standard mongage clause. I.ender �
<br /> . �+ shull have the right ro tiold the policies and rencwals.lf Lcnder requires. 8nrro�vcr shall prompNy give to l.endcr uU rcccipts of �•
<br /> �, paid premiums an d renetivu i notices.In t he e v e n t o f l o s s, B o r r o w e r s ha l l gE v e p ro m p t n o t i c e to the insurance carrier und Lender. :
<br /> I.cndcr may makc proof of lass if not madc promptly by Borrowcr. �
<br /> � Unlcss l.ender and Borrower otherwisc ugrce in�vriting, insurance pracecds shall bc applicd to restorttion or rcpair of di� �:
<br /> �'. Property damagcd,if the restaration or repair is cconomically feasiblc and L.�ndcr's s�:curity is not Icsscncd. If the restoration��r _
<br /> ��• repair is nat economically feasible or Lender's securi[y would be Iessenecl,the insurunee proceeds sl�all be applied to the sums _
<br /> -� �> " �• secured by this Security Instrument, whether or not then due, with any exce�.s paid to Borrower. If Borrower abundons the _
<br /> Property,ox does not answer within 30 days a notice from L,ender that the insurance carrier hns offered to setde a claim, dien
<br /> •� � Lender may collect the insurance proceeds. I.cnder may use the proceeds to repair or restore the Property or to pay sums
<br /> � . sec�+red by this Security Instn►ment,whether or not then due. Thc 30-day period will begin when the notice is given.
<br /> -� Urdess Lender and 6onowcr utl�erwise agree in writing, an}� application of prorc�cls to principal shall �iot extend or
<br /> -�":�: :'• r: . . postpone the due date of the monthly payments referred to in paragraphs i and 2 or chunge thc amount of die payments. If
<br /> • under paragruph 21 the Property is acquired by I.ender, Borrowcr's riglu to any insurance policies and proceeds resulting from _
<br />- a:� .�_.: .?�.,• ' damage ta the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Securiry Instrument �
<br /> °`' �' � immediately prior to the ucquisition.
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<br /> , ' 6. Occupancy.Preservation.Maintenance and Protection of the Property; Borrower's Loan Applicatton;LeASeho s.
<br /> ';,,{ '�> f` Borrower shall occupy,establish,and use the 1'roperty as aorrower's principal residcnce within sixry days after tt�e execution of
<br /> -- •� ' this Security[nstrument and shall continue to occupy the Pruperty as Borrower's principal residence for at least ane year after
<br />—_- � the date of occupancy,unless l.�:nder othenvise a�rees in writing, which consent shall not be unreasonably withheld, or unless
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<br /> °;;;�., . ti extenuating circumstances exist which are beyond Borrower's cantrol. Borrower sh111 not destroy, damage or impair the
<br />=.:"��,�:��"': Property, alluw the Propeny to detcriorate, or cammit waste on the Property. Bonower shall be in deL•iult if any forfeitare
<br /> --!��,�•-=��• . • •� .. • • I ' M.. .�rh m nn`In c onn�l faith„iudgment could result in forfeiture of the .
<br /> •`�:iY(1Lpi}i'� action or proceeilinb. WIIC'u`ICI �iVi�uP Ciui�ili:u, .� �.bL'.....3L ...i.....__f.. —
<br />-;�°`�;�;,,-� Property or otherwise materia➢ly impair the lien created by this Security Instrument or l.ender's securiry interest. �arrower may
<br /> �_�,,.,�. cure sucli a default and reinstate,as provided in paragraph I8,by causing the artian or proceeding to be dismissed with a ruling
<br />—.�� that, in Lender's gaod faith dctermination, prccludes forfeiture of the Borrower's intcrest in the Property or othcr material
<br /> -.•�ut�� impairment of the lien create� by this Securiry Instniment or Lender's security interest. Borrower shali also be in defauU if
<br />�;�'�'� Bonower,during the loan application process,gavc materially false or inaccurntc information or statements to Lender(or faileci
<br />_--- to provide Lcnder viith any matcrial information) in connection with the loan evidenced by the Note, includong,but not limited
<br /> _— ta,representations concerning Bono�ver's occupuncy of the Property as a principal residence. If this Security Instrument is on a
<br /> -.r--����"�'� leasehold, Borrower shall comply �vith all the provisions of the lease. If Borrower acquires fee title to the Property, th$
<br /> --�f---- leaschold and the fee title shull not merge unless Lender agrees to the merger in writing.
<br /> _ ,a_ 7.Protectton of Lender's Rl�hts in the Property.If Bonower fails to perform the covenants and agrecments contained in __
<br /> _� this Security Instrument, or there is a legal proceeding that may signi6cantly affect Lender's rights in the Property (such as a
<br /> ---- proceeding in bankruptcy,probate, for condcmnation or forfeiture or to enforcc luws or regulations), then Lender may do and
<br /> -- pay for�vhatever is necessary to protect the value of the Property and L.ender's rights in the Property. C.ender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> - reasonable attorneys' fees and entering on the Propeny to make rcpairs. Althaugh Lender may take action under diis paragrAph
<br /> 7. Lender does not have to du so. �
<br /> ��T — Any amounts disbursed by Lcnder under tBis parngraph 7 shall become additional dcbt of Borrower secured by this
<br /> .�'� —_ Security Instrumen*.. Unless Bonower and Lender agree to otUer terms uf payment, these amounts shall bear interest from t�e
<br /> date of disbursement at the Notc rate and shall be payable, with interest, upon noticc from Lender to Borrower requestin�
<br /> i_, -- payment. _
<br /> — -- 8.Mortgag�I��suran�e.If Lender required mortgage insurance as a condition of making the loan secumd by this Secur�ty
<br /> --- �__;,:�� Instrument, Borrotivcr shall pay the premiums required ro maintain the mortgage insurance in cffect. If, for any reason, the
<br /> -----"''= mortgage insurance covei�age required by I.ender lapses or ceases to be in effect,Borrower shall pay the premiums rec{uirec�ta
<br /> 1 '°'�""� obtain covern�e substantially equivalent to the mortga�e insurance previausly in effect,at a cost substantially cquivalent to the
<br /> — �`'�-�� cost to Sorrower of the moctgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If
<br /> :_� � substantially equivalent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to
<br /> x�,�,�, � one•twclfth of the ycarly mongage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> _:����s'�� be in cffect.Lender will acccpt,use and ntain these paymcnts as a loss reserve in lieu of mortgagc insurance. Loss reserve _
<br /> --=-��;;`� Form 3028 y/90 -
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