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<br /> ` � ' �• S. Ha�rd or Sropeitq Insmanse. Borrower shall keep the impmvements now existing or hereafter eiected on the ,
<br /> .:' • .� Property insured against toss by fice,hazards inctuded withia the term 'extended ooverage' and any other hazards.includiag r • .
<br /> - � , ttaods or flouding,foi whiCh ixnde[requites's[�s�ttal�Ce.Tliis insutanCe shall be maintaine�ul Ihe Smounts and foz the periods ;f,;<i� , _
<br /> - � � -.:�-..--�- that Lender requires.The insurance carrier pmviding the insurance s6a11 be chosen by Borr�wer subjecc to I.ender's approval �..„.•� �
<br /> �"£ ` : -. which shal! not be unreasonably arithheld. If Borrower fails to maintain caverage described above, l.ender may, at Lender's _ ` �,;{� �
<br /> - -- aptian,olstaia caverage to protec�i.ender's rights iu the Prnperty in ascordance with paragraph 7. �` .-_
<br /> : . i ' • All insurance golicies and renewals shall be acceptable to lender and shall indude a standard mortgage clause. Ixnder � }` .
<br /> ran
<br /> . ' s6aU have the right to hold the policies and reaewals.If L�ender requires,BoFrower shall pmmpdy give to Lender all meipu of .
<br /> paid p*p*++*n**��and�11ewa1 aolices.III the eve�U Of loss,Bormwer sl�all give pmmpt notic�to the insutance carrier and L.ender- . -� <
<br /> � Lender may make proof of loss if not made Prom�tlY bY Bonower. F= �.
<br /> . Unless I.ender and Borrower othenvise agcec in writing,insaraace proceEds shall be applied to restoratioa oz repair of ths : •. '`'-
<br /> . . �F�Y�g�.if the resunration or repair is economirally feasible and Lender's security is not lessened.if the restorazion or � v.;' `�'`.`
<br /> ' � � - repair is not economicalIy feasble or Leader's security would be tessened,the ins�rance pmceeds shait be applied to the sums '�^�=-.
<br />�"-:� .� .` �•� •_'''��'�`
<br />- �• • • , secuted by this Seanrity Insuument, whether or nat then due. with azry exc�ess paid to Borrower. If Borrower ab�dons the _�_
<br /> • �,.�.:_
<br /> ti:� : Property,or does aot answer within 30 days a notice from Leuder that the insurance cascier has offered to settie a claim,then �,_-__
<br /> � -. ' lxader may coliect the insviaace pzoceeds. Lender may use the praceeds to repair or restore t6e Propeny or w pay sums ;•.:"��
<br /> , secured by tbis Seairiry Insn�ent,arhether or not then due.The 30-day period arill begia when the aotice is given. ' ' --
<br /> � Uniess I.ender aad Boirower otherarise agree in writing. aaY aPP�cztion of proceeds to priacipal shall not extend or - . -- -
<br />���. . . , •.
<br /> - , postpone the due date of the monthIy payments referred to in paragraphs 1 and 2 or change the amouat of the gayments. If :.�;�-:._
<br />';;:.. .:. ,. . -:.;: aader paragcaph 21 the.Property is acquired by Lender,Bormwer's right to any insurance policies and pmceeds nsult�g fmm• :----
<br /> � - . - � damage to the Properry prior w the acquisition shall pass to Leader to the extent of the s�v secu:ed by this Security Insaumeat -
<br /> • • ' . ' ��Y Prior w the acquisiaon. • `
<br /> ' � j� 6•O�aPan�9.Preservat�on,Maintenance and Frotectlon of the Propert5,Borrower's Loan Appffsatton,I.easehotds. . ;: �:fi��=--
<br /> . • Borrower shall occupy,establish,and use the Property as Bomuwer's principat residenoe withui sixty days after the executioa of .�; •. -_
<br /> - .. . ✓ `, t8is Securig]nsuumeat and s6all cantinue to occapy the Pcoperty as Eosrower's principal resideace for at leas[one year after - '""m°
<br /> ��:� � � the date of occapancy,�mless I.ender othera+ise agrees in writing,which consent shaU not be urmeasonably withhetd,or untess • -
<br /> exte�ating ' »++�Ances exist which are beyond Borrowe�'s con�ol. Borrower shaU not destmy, damage or impair the •;::::� •�-
<br /> '� � '. . FroPeny. allow the Proper[y to deteriorate,or commit waste on the Property. Borrower shall be in default if aay forfeinue • " s� - -
<br /> _ . ' acrion or proceedi�.�,whether civil ar crtminFil,is begua ti�at in Lender's good faith judgmeni coald resiilt in forfeiwre of the `, � = -
<br /> • �, PmPeriY or othetwise materially impair the liea created by this Security Insuument or I.ender's security interest.Boaower may ',•;,.:`c•`•�,�v---_
<br /> ' �'� � :3`�• �':ass:
<br /> ' � :�i cure such a default and reinstate,as provided in paragraph 18,by causing the action or�va+nceeding w be dismissed with a niling �
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<br /> . • . + that, in Lender's good faith determination,precludes forfeiture of the Borrower's iaterest in the Property or othet material . ,,�,. . .,;.
<br />- � . ' •` impairment of the lien createtl by this Security Insuument or Ixnder's seauity interest. Borrower shall also be in default if ; , �°—
<br /> t�,::-�.-. ::.-_. ; Borrower,dwing the loau application pmcesc,gave materiaUy false or inace�rate information or statements to Lender(or failed :�;:,,_�`:
<br /> � .,� . to pmvide Len,der with any material iuformation)in conaection witb the loan evidenced by the Note,including,but not limited � . . ;�`�-�
<br /> ..' • � to,representations conceming Borrower's occupancy of the Property as a principal tesidence.If this Security Instrument is oa a � � �-�--
<br /> ' �"•' leasehold, Borrower shall compiy with all the pmvisions of the lease. If Bomower acquires fee titte to the Property, the � , ' �—�
<br /> _ ' • , � teasehold and the fee title shall not merge unless Lender agrces to the merger in writing. .�: •� 4
<br /> . I� • 7.Yrotect(oa of Lender's Itights in We Property.If Borrower fails to p.,-cform th��venants and agreements contained in ' ' —
<br /> d this Security lnsaument, or there is a legal proceeding that may significandy affect l.ender's rights in the ProPertY(such as a . . ... '�.;:-
<br /> � .. ��1 proceeding in bankruptcy.pro6ate,for condemnation or forfeiture or to enforce lawa or regWations),then Lender may do aud __
<br /> , � � pay foz whatever is necessary to pmtec[the value of the Property and Leader's rights in the Property. Lender's actions may �' '
<br /> ,�.
<br /> ` ' include paying anp sums secured by a lien which has priority over this Securiry Insuument, appearing in court, paying ,�?• ` �•� �.
<br /> ±;': ,' . reasonabte attomeys'fees and entering on the Property to make repairs.Although Lender may take action under this paragraph , : , ,
<br />�• � 7.Leader does not have to do so. „ , � . .
<br />' .,..�.'�. • • Any amounts disbursed by Lender under this paragraph 7 sha11 become addirional debt of Boaower secured by this .
<br /> . Security+Instnunent. Unless Borcower and Lender agree to other tem�s of payment,these amounts shall bear interest from the �+: � '"
<br /> " ' � . .� date of disbursemeat at the Note rate and sha11 be payable, with interest, upon notice from Lender to Borrower requesting �. �
<br /> � . � • payment. . . •
<br /> �� 8.Mortgage Insurance.If l.ender required mortgage insurance as a condition of making the loan secured hy this Security '. . .
<br /> •�s . Insttument. Borrower shall pay the premiums required to maintain the mortgage insurance in effect. lf, for any reason, the . •
<br /> - . mortgage insurance coverage required by L�mder la�ses or ceases to be in effect,Borrower shall pay the premiums tequired to :
<br />- ' . . obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the � _ .'
<br /> � cost to Borrower of the mortgage insurance previously in effect, from an altemate mortgage insurer approved by Lender. lf ' .
<br /> ' substantially equivalent mortgage insurance coverage is not available.Borrower sha13 pay to Lender each month a sum equal to �
<br /> .. � one-twelfth of the yearly mongage insurance premium beiag paid by Bonowet when the insurance coverage tapsed or ceased to . .
<br /> . .. • . •� � be in effect.Lender will accept,use and retain triese payments as a loss reserve in lieu of mongage fnsurance. Loss reserve �. . •
<br /> '_ , � Fortn 3028 9190
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