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<br /> . S. Hnznrd nr I'ropert}• In+nrancc. linrru��rr ,hall kccp thc impr��vrmcnt�, nuu• �xisting un c�rc�iltrr rrrrtcd un T(�i
<br /> Nri�perty insarcd a�,iim1 los, hy tir�. haiard, inclu�lc�l �aithin ihc tcrm"rxtendcd r��v�ru�c" and .tn�� ��thrr haiard,. incluJin�
<br /> Ilund+��r Ilnoding. fur�vhich I.enJcr rcyuirc,intiuranrr. "I'hi+in�uranrc�h:ill hr nuiintaincd in Ihr .unuunt+und for thr prriadti
<br /> , , Ihat IAndcr rcquirr�. 'fhc in.ur:�na�rvnrr provulinG thc in.uranrc+hall hr rhu,cn h� f3��rru�ti�r �uhjrrt lu l.cndrt'+ appru�•al -
<br /> _ - .: whirh .h.dl nut hc unrras��iu�hly �ti�ithhclJ. If E�uiruwrr I:iil+tu �n�iint.iin cavcrugc ilc+crihcd .�I�uvr, l.cndcr may. at l.rndcr'r -
<br /> - �� �� option.ohtain ruvcragc t��pr�ncrt lAndrr',right,in d�r Pr��pcnp in�icrurd;mce�vith paragraph 7. __
<br /> :. � All insuranrc pulirics unJ �cnaw,ds ,hitll hc urrcptuhlc ta ��;ndcr;ind shull inrludc a titaodard murt�:aEc rl.iu,.. L�ndcr =
<br /> shull havc thc right to hold thc policics and renc�valti. If Lrndcr requires,Borrowcr shall prumptly givr tu L�nJcr all rcrciptti i�f'
<br /> �""'""` aid remiums and renewal notices.ln thc evcnt of losti,Borrowcr shall ive rotn t notire tn thc in�uranrc rurricr and Lender. -
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<br /> L.endcr may make prouf of luss if nnt madc pn�mptly by Barmwer. _
<br /> Unless Lender and Borrower othenvise agree in writing,iiicuruncc procccds shall bc applic�!to rc�toration ur repuir of the =
<br /> �� Property dumaged, if the restoration or repair is econamically feasible and Lender'ti sccurity is noc Iessened. If the restoration or -
<br /> � , repair iti not econumically fcasibleor L.cndcr's security would be Icssenai, thc insuruncc procecds shall bc applicd tu the sums --
<br /> si:cured by this Security Instrumem, whcther or not then due, with uny excess paid to Horrower. If Borrower abandons the -
<br /> � Property, or does not answer�viihin 30 duys a notice from l.endcr that the insurance carrier has offered to setUe a claim, then �`
<br />'`s',':. . Lender may collect the insurance proceeds. Lender may use the pmceeds to repair or restore the Property or to pay sums =_
<br /> � sccurcd by this Sccurity Instrumcnt,whcthcr or not thcn duc.Thc 30•day period will begin whcn thc noticc is givcn. --
<br /> . Unless Lender and Borrower othcrwise agrce in writing, any application of procceds to principal shall not extend or -
<br /> . , pclstpane the due date of the monthly payments referred to in paragrs�phs I and 2 or change the �mount of tlie payments. If :�
<br /> under paragraph 21 the Property is acquired by Lender,Borro�ver's ri�;ht to any insurance policies :md proceeds resulting from �
<br /> •���r.�'���� damage to the Pe�perty prior to the acquisition shall pass to Lender to the extent af the sums secured by this Secutity instrument �
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<br /> immediately prior to the acquisition. =-
<br /> � .. • :• , 6.Occupaney. Preservation,Maintenance nnd Protectlon of the Pra�perty;B�rro�ver's Loan ApplEcation; IxASeholds. --
<br />- ;-�'��: • Borrawer shall occupy, establish. and use the Property as Borrower's principal residence within sixty days after the execution of
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<br />_�,y.R� this Security Instrument and shall continue to occupy the Propeny as Borcower's principal residence for at least one year after
<br /> �'=���'�.� the date of occupancy, unless Lender othenvise agrees in writing. which consent shnll not be unreasonably withheld, or unless
<br />�;�'';C� extenuating circumstanccs exist which are beyond Borrower's cantrol. Borrowcr shall not destroy, dams�ge ar impair the
<br />"�,••:.•�•" Qf4�'i�j. `3�lL".'.' »F:� PSQ'r`Pr'S'i� tn a�Pri��ai�. Q.°L'4S27SS22t w351w CST thn Pm�aT!�. �LlTnwar c�!��� 2R�PfS�rl� !f 952� f^�^!�!!f?
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<br />-:--,�,�,.,� � uction or proceeding,whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the
<br /> "'"�:?'='�,a�"� Property or othenvise materially impair the lien creaced by this Security Instniment or Lender's secu�ity interest.Bonower may
<br /> cure such a default and reinstate, as provided in paragraph 18,by �ausing the action or proceeding to be dismissed with a ruling
<br />��-�'"� that. in Lender's good faith determination. precludes forfeiture of the Borrower's interest in die Property or other material
<br />---__��:;:� impairment of the lien created by this Security Instrument or Lender's security interest. Horrower shall also be in default if
<br /> -_��-� Borrower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed
<br /> ---�— to provide Lender�vith any material information)in connection with the loan evidenced by the Note,including,but not limited
<br /> -_� to, rcpresentations conc�ming Borrower's occupancy of the Property as a principal residence.I4'this Se�:urity Instniment is on a
<br /> -"._;�� Ieasehold, Borsower shall comply with all the provisions of the Iease. If Borrower acquires fee title to the Propeny, die
<br /> — _-- leasehold and the fee title shaU not merge unless Lender agrees to the merger in writing.
<br /> - `= 7.Proteetton of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in
<br /> � this Security Instrument, or there is a legal procea:ding that may si�niftcantly affect I.ender's rights in the Property (s�tch as a
<br /> ---- procceding in bankrupuy,probate,for condemnation or forfeiture or to enforce laws or reguladons),then Lender may do and
<br /> �.__._._� pay for whatcver is necessary to protect the value of the Property and Lender's rights in the Property. Lender's:tctions may
<br /> — include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> ,��� reasonable uttorneys'fe�and entering on the Property to make repairs.Although Lendcr may take action under this paragraph
<br /> _----.---� 7,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall bec:ome additional debt of Borrower secured by this
<br /> ,.W...._�_-.� Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the
<br /> — date of disbursement at the Note rate and shall be payable, with interest. upon notice f'rom I.ender to Borrower requesting
<br /> _.------ payment.
<br /> °�� 8.Mortgage Insurance.lf Lender required mortgage insurance as a condition of making the loan secured by this Security
<br />____��� [nstrument, Bonower shall pay the premiums required to maintain the mortgage insurance in effect. Ii, for any reason, the
<br /> --__,�;d;� , mortgage insurance coverage required by Lender lupses or ceases to be in effect, Borrower shall pay the prcmiums requi�+ed to _
<br /> =�<<��=�� obtain coverage substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> -`r'�''�"�9�� cost to Borrower of the mortgaa�insurance previously in effect. from an alternate mortgage insurer approved by L.ender. If
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<br /> -a�}:=.,��•��� substantially equivalent mortgage insurance coverage is not available,Borcower shall pay to Lender each month a sum equal to _
<br /> "'-',�.`�,";, one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> °._�;;�;,:�,f.• be in effect. Lender will accept,use and retain these payments as a loss reserve in lieu of mongage insurance. Loss reserve �
<br /> :rL�..�"..� Form 3028 9/90 -
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