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<br /> S.Hazard or P'roperty In�urance. Bonower shull kecp�re improvements now existing or hereafter erccted on the Property i _
<br /> insiued agninst loss by fire, ha�Ards included within the term"extended coverage" and any olher hauuds, including tlaods or
<br /> flcrodin�,for�vhich[.ender requires insur�nce.This ins�uance shall be mnintained in the amounts and For the periods that L.ender � , -�,
<br /> requues.The insurance cerrier providing the insurance shaU b:chosen by Borrower sub ject w Lender's approval whi�h shall not •
<br /> be unreasonably wilhheld. If Barrower fails to meintain coverage described above, Lcnder may, at Lcnder's option, obtain _
<br /> � coverage to procect l.ender's dghts in the Propeaty in accordence with paragr�ph 7.
<br /> , All insurance policies and renewals shnll 6e acceptable to Lender and shall include a stanclurd mort�age clause.Lender shall I
<br /> have the right to hold the policics and renewals. If Lender requires,Baaower shall prompUy givc to Lender all reccipts of paid { '"
<br /> ' premiums and renewal norices.In the event of loss,Borrower shall give prompc notice to the insurance carrier and Lender.Lender i �
<br /> may make proof of loss if not madc prompUy by Borrowcr. ,,, .-�,:
<br /> Unless Lcnder and Borrower otherwise agree in wrriUng. insurance proceeds shall be applied to restoradon ar repair of the " -�`_°
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<br /> Property dumaged,if tha restoration or repair is economically feasible and Lender's securiry is not lessened.If the restoration or - --
<br /> ' repair is not economically feasible or Lender's security would be iessened,ihe insurance proceeds shall be epplIed to the sums .:�'w
<br /> secured by this Security Instrument, whether ar not then due, with any excess paid to Borrower. If 9orrower abandons the •°:'-f��---
<br /> Prnperty,or does not answer within 30 days a notice from I.ender that the insurence carrier has offered w seale a claim.then _
<br /> � Lender may collect the insurance proceeds.L.ender may use tha proceeds lo repair or restore the Ptoperty ar to pay sums secur2d � �_ --
<br /> ,: by this Security Instrument,�vhether or not then due.The 30-day perioci wiU begin when the nouce is given. °°--
<br /> Unless Lender and Borrower otherwise agree in wridng.any appGcauun of proceeds to principal shall not extend or postpone =_-
<br /> the due date of the monthly payments refecred to in paragraphs 1 and 2 or change the sunount of the payments.If under parngraph '.;�:,�"::
<br /> � 21 the Property is acquired by Lender. Borrower's right to any insurdnce policies and proceeds resulting fro�n damage to the •• •
<br /> Property prior to the acquisiaon shaU pass to Lender to the extent of the sums secured by this Security Inswmen�immediately " `�`
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<br /> � •� prior to the acqulsidon. • ��
<br /> 6.Occupancy,Preservation,Maintenance amd Protection of the Property; Borrower's Loan Applit�tion;Leaseholds. ..
<br /> . Borrower shaU oc�upy,establish,and use the Properry as Bonower's principal residence within sixty days after the execuuon of �
<br /> • this Security Instrument and shal!con[inue w cecupy the Propecry as Bo�rower's principal residence for at least one year after the .`::•h����
<br /> date of occupancy, unless I.ender othenvise agrees in writing, which consent shall not be unreasonably withheld. or unless R_'�'"�&y-'
<br />---_ - .. diiic�iidiii�-�L�ihuniiaaua aaui ii+i�ici�6ic`uc'ui�u Bu�ivwc['S wii ai-'v1. DB�i uwEa S�i�iivt{�wtf7".Qarr:a c ar:m a,f S�iC:�fII , �-'�`�` � .`
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<br /> allow the Property w det�riorate, or commit waste on the Properry. Borrower shall be in defanit if any forf'eiwre �ction or ;. �
<br /> proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or �, •
<br /> alherwise materially impair the lien created by this Security Instrument or Lender's security interes�Borrower may cure svch a � ',:
<br /> , defautt and reinstate, as provided in paragraph 18,by causing the ac6on or proceeding to be dismissed with a niling that, in '� ;
<br /> I.endcr's good faith detem�ination,precludes forfeidue of the Borrower's interest in the Property or other matsrlal impaitment of �
<br /> , the l�en created by this Securiry Inswment or Lender's security interest.Bonower shell also be in default if Borrower,during the r'`
<br /> � loan appHcadon pracess,gave materially felse or inaccurate informadon or statements to Lender(or failed to provida Lender w[th `
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<br /> any material information) in connecrion with the loan evidenced by U�e Note, inclading, but not limited to. cepresenPattons
<br /> conaming Bonower's occupancy of the Propeny as a principal residena. If this Securiry Instru�nent is on a leasehold.Bomnwer
<br /> shell comply witl►atl the provisions of the lease.If Sorrower acquires fee ade to the Property.the leasehold and the fee ade shall �-�
<br /> not mu e unless I.ender a ees to�he m �i" " '
<br /> 8 Br er8er in wriring. -,:,�,�
<br /> . ' 7.Protection of Lender's Rights in tke Property. If Borrower Fails to perForm the covenants and agreements conteLied in ��}.:,��
<br /> . this Security Ins�wnent,or there �s a legal proceeding that may significandy affect I.ender's rights in the Prapecty (such as a -�
<br /> proceeding in banlauptcy,probate.for condemnaaon or fodeiture or to enforce laws or regulacions).thcn Lender may do and pay _ - --
<br /> for whatever is necessary to protect the value of the Property end I.ender's rights in the Property.Lender's acdons may include _
<br /> _ _.___ payin� any sums secured by a l�en which has oriority over this Security Instrumen4 a}�pr.arinR in court, paying reasonable •=���°- _- -
<br /> ' � auomeys' fees and enLering on the Property to make repairs. Although Lender may take acaon under this paragnph 7,L.cnder •���'�__-
<br /> does nat have to do so.
<br /> . � Any amounts disbursed by Lender under this paragzaph 7 shall become addiaonal debt of Boaower se�ured by this Sec�uity - -- -- -
<br />' InsuumenG Unless Borrower and Lender agree to other terms of payment,thesc amounts shall bcar interest from the datc of ��'`�
<br /> disbursement at the Nott rate and shaU be payable.with interest,upon no6ce from Lender to Borrower requesting paymenG •�'?��??�'R�::
<br /> 8.Mortgage Insurance. If Lender mquired mortgage insurance as a condition of making the loan secured by this Security '���i`�
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<br /> Instrument, Boaower shall a the remiums r u'ved to maintain the mo age insurance in effecG If, for any re�son,th� "�''"''�"�.�s`�:_,. :
<br /> P Y A �1 �i ::.;�".3:::• ,� , �.
<br /> mortgage insurance coverage r:,quired by Lender lapses or ceases to be in effect,Borrower shall pay the premiums sequired to '"""',�:':':��"
<br /> obtain coverage substantiully equivalent to the mongage insurance previously in cffect,at a cost substanrially equivalent to the T�=�� =
<br /> cost to Borrower of the m�ngage insurance previously in effec� from an alternate mongage insurer approved by Lender. If �•��`��`�� �� � �
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<br /> substandally equivalent mortgage insurance coverage is not avaiiable, Boreower shal]pay to Lender each month a sum equal to "�
<br /> _ one-twelfth of the yearly mongage insurance premium being paid by Borrower when the insurance coverage lepsed or ceased to . ,`..
<br /> . be in effecG Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance.Loss reserve •
<br /> ' Form 3028 9/80 . . , .
<br /> �•6V(NE)IO2t2).O1 Psp�3 ot B Inaial�:
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