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<br /> S.Hazard or Property Insurance. Aonowcr shall kecp ihc improvemcn4s now cxistin$on c�rcaftcr crcctod on thc Property � W
<br /> ins�ucd against loss by Cuc, hazards included within thc tcrm °cxtendcd cavGragc" and nny other harards, including floods or ,
<br /> tlooding,for which Lendcr requires insurancc.This insurancc shall bc maintained in thc amounts and(or thc periods that I..cndcr `
<br /> � requ¢es.The insurance carrier providing Ihe insurance shall bc choscn by Burrower subje;,t to Lc:nder's approval which shull not �
<br /> .. bc unreasonably withheld. If Borrowcr fails to maintair► coverage described abovo,L.ender may, nt l.cndcr's optinn, obtuin
<br /> coverage to protect Lender's rights in the Property in accordance with paragrnPh 7, I
<br /> All insurance policies and relewals shall be accepmble w Lender and shall include a standard mongage clause.Lender shall
<br /> have the right to hold the policies and renewels. If I.ender requires,Boaower shall prompUy give to Lender all receipts of paid
<br /> premiums and renewal notices.In the event of loss,Borrower shall give prompt nodee to the insurance carrier and Lender.Lender
<br /> may make pmof of loss if not made prompdy by Boaower. _
<br /> Ualess L.ender and Boaower othcrwise agree in writinB,u►surance proceeds shall be applied to restoradon ar repair of thc
<br /> property damaged,if the restoration or repair is economically feasible and Lender's security is rtot lessened.If ihe restoration or
<br /> � repair is not economically fcasible or Lea►der's securiry would be lessened,the inswance proceeds shall be applied w the sums .y5�y .,
<br /> � secured by lhls Security Insuument, whether or not then due. with any excess paid to Borrower. If Borrower abandons the
<br /> Property,or does not answer within 30 days a notice from Lender Hiat the insurance carrier has offered to seule a claim,then I .__�
<br /> Lender mfly collect the insur�r►ce procecds• I.ender may use the proceeds to repair or nstore the Property or•o pay sums secured ���__
<br /> by this Sccuriry Inswment,whether or not then due.'Ihe 30-day period will begin when the no�ce is given. :•:,Rwr���,,;
<br /> Unless I.ender and Borrower otherwise agree in writing�enY apFlication of proceeds to principal shall not extend or postpone � ���f-- ••�• -
<br /> the due date of the monthly payments refcrred to in paragraphs 1 and 2 or change ihe amount of the payments.If undcr gamgraph .7��;�«.
<br /> 21 the Prope�ty is acqtwed by L.ender,Borrower's right to any insurance policies and praceeds resulting from dama�e to the � ,}� `��,
<br /> Property prior to the acquisition shall ptus w Lender to the extent of the sums secured by this Securiry Instrument immediutel��
<br /> . prior to ihe acquisition. ' ���Y
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<br /> � 6.Occupancy,Preservation,Malntenance and Protectton ot the Property; Borrower's Loan Applicatbn;LeaaehoWs. , �: �
<br /> � IIorrower shall occupy,establish.and use the Property as Borrower's principal residence within sixty days after the execudon of
<br /> this Security Insm�ment and shall continua to occupy the Property as Borrower's principal residence for at Ieast one year after the
<br /> date of occupancy, unless Lender othenvise agrees in wripng, w�uch consent shall not be unreasonably withhetd, or unless �..
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<br /> .� PXrP„��Ar�no circumcrances exist which are beyond Bonower's conaol.Borrower shall not des�oy.damage or impair the Property, �-0 �_ :
<br /> � allow the Ptoperty ta deteriorate. or commit waste on the Properiy. �mmwer shall be in default�t any iorfeiuue acdon or -_ . . •
<br /> proceeding�whether civil or criminal,is begu►►ihat in Lender's good feith judgment could result in forfeih�re of the Propecty or �.-, <<
<br /> oiherwise materially impair the Gen aeated by this Sacurity Instrument or Lender's security interest Bonower may cure such a 'tp,;�i� �+ ' '
<br /> default and ninstate,as provided in paregraph 18. by causing the action or proceeding co be dlsmissed with a niling that, in . ,%,, ,
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<br /> Lender's good faith determinapon.precludes forfeiwre of the Borrower's interest in the Property ar other material i►npairment of ..+��r�-,,;- j
<br /> the lien created by this Securiry Ia�suument or Lender's security interest.Borrower shall also be in default if Borrower,during the ', s�,,,': . -
<br /> loan npplicaaon process,gava materially false or inaccurate infoanatlon or statements co Lender(or failed w provide Lender with i.. ' '�
<br /> any material informadon) in connecdon with the loan evidenced by the Notc,inclu.ding. but not limited to. representadons �n :�. _ �
<br /> ' conceming Borrower's occupancy of the P�ropecty as a principal residence.If this Securtty Instrument is on a leasehold,Borrowex �" ' ,
<br /> shall comply with all the provlslons of tha lease.If Boirower acquires fee title W ihe Property,the leasehold and the fee dde shall -� ��.�_:
<br /> not merge ualess Lender agrees to the metget in writiiing. t::;': �
<br /> 7.Protection of Lender's Rights in the Property. If�orrower fails w perfomn the covenants and agreements contained in .�'��+�,�r^,•—�
<br /> this Securlty Instrument,or there u a legal proceeding that may significantly effect Lender's rights in ihe Property (such as a r .:�„
<br /> proceeding in bankruptcy,prabate,for condemnaUon or forFeidue or w enforce laws or regulations),then Lende�may do and pay •=�•'dt�'
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<br /> for whatever is necessary eo protect the value of the Property and Lender's righ�s in the Propesty.Lender's ac6ons may include ,�,n,$
<br /> , paying eny sutns secured by a lien which has priodty over this Securiry Insuumnent, appenrin8 in co�►rt. PaY�B ��le ',��F
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<br /> - ' . , attomeys' fees r,nd entering on the Property w malce repairs. Alchough Lensier may take action under this paragraph 7,I.ender :,�:�ru:�
<br /> • does not have to do so. °••:Artafi '`
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<br />-= Any amounts disbursed by Lender under this paragraph 7 shall become addirional debt of Bomnwer secursd by this Security „ � _
<br /> Instnunent Unless Borrower and Les►der agrec to other terms of payment, these amounts shall bear interest from the date of , ':,z������}
<br />� disbursement at the Note rate and shail bc payable,with interese,upon noticc from Lender to Borrower requesting payinen4 •;.;,��;�, .�• ,
<br /> 8.Mortgage Insurance. If Lender required�nortgage insurance as a condidon of making the loan secured by this Security :�•:�d,
<br />–• Insnument, Borrower shall pay the premiums required to mainutin the mortgage insurance in effcct,If. for any reason. the ,
<br /> 7 mortgage insurance coveragc required by I.ender lapses or ceases to be in effecb �orrower shall pay the premiums required tc� � �
<br /> obtain coverage substantielly equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> cost to Borrower of the mongage insurance previously in effect, from an altemate mortguge insurer approved by L.ender. If •
<br /> substantially equivalent mortgage insurance coveroge is not availnble,Bocrower shaU pay w I..ender each month a sum equal to ,
<br />= ono-twelfth of the yearly mortgage insucance premium bcing paid by Sorrowet when the insurance coverage iapsed or ceatied to :
<br /> be in etfecG I.ender will accept, ase and retain these payments as a loss reseive in lieu of mortgage insurance.Loss mserve
<br /> — Form 3028 �190
<br /> �-8R(NE)�ozi xl.o+ Pap�9 cI B inweu:
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