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<br /> 97� 1��2 � � " : . �:
<br /> `� S. �e�ard or Propesty Insarance. Borrower shall keep the improvemsnts now eaisting or hereafter erected on the ` _
<br /> `s pnoperty insured against toss by fire,haTards iacluded within the term"eatended coverage"and any other hazards. inzluding y
<br /> :` floods or fiaoding,for which L�ader requites insurance.'i'his inc,,.ance shall be maintained in We aYnouats and far ths periods . . - -- -
<br /> � tbat Lender reqaire.s.'l�e insurance c�aier providing the insuiance sha11 be chosen by Borrower subjea to I.ender's approval � �
<br /> � =s which shall not be unr�asonably withhsld. If Bormwer faiis to *naintain �verage descn'b�abuve, Lender may, at I�ader's =-
<br /> �; option,obtain coverage w pmtect I.ender's rights in the Praperty in aocordance with paragraph 7. t •
<br /> All insarance policies and renewals shall be aoceptabte w I�cnder and shall include a standard mortgage clause. Lender �
<br /> ;# shall have the right to hold the policies and renewals.lf 1.ender requires,Eon°v�'er s3�all P1°mPUY&ve to Leader all reoeipts of � , :
<br /> � paid premiums and renea+al nuuces•Ia the e�'eat of loss,Barrower shall give prompt notice to the insarance carrier and Lender.
<br /> •�� Lender may make pmof of loss if not made pmmptly by Borcower. , .
<br /> U�����g���,�o�e�e�in writing,insu�ance proceeds shall be applied to restoration or repair of the
<br /> "� property daruaged,if the restoraiion or re�air is eooaomically feasible and Lender's security is not lessened.If the restoration or ._
<br /> � repair is not emnomicaIIy feas�le or i�ender's savrity would be lessened,the insivance proce�tls shall be aPpliefl to the sums . ...� .�
<br /> � secured by thia SecvritY Instrument,whether or not then due, with any excess paid to Bomuwer. If Borrower abandons the � .�
<br /> Pmperty,or dces not answer within 30 days a notice from Lender t�at the insurauce carrier has offeced to satle a claim,then , '
<br /> Lender may collect the insutance pmceeds. Lender may use the proceEds to repair or reswre the Property or to pay svms , .� "._�.
<br /> . Secu�d by this Sec�riry Insuument,wheiher or nnt then due.The 30-day period arill begia when tiie notice is given. _•.,�_
<br /> hca�ioa of roceeds to rin W st�aU nat extend or ��,'�`- -
<br /> Unless Lendet and Bormwer otherwise agree ia writing, anY aPP� P P �P • : _ - ° •a�_
<br /> postpone the due date of the mnnthlY Payments referred to in paraP.raPhs 1 and 2 or cbange the amouni of the payments. If .,���,���
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<br /> under paragraph 21 the Property is acquir�d by I.ender,Borrower's rig6t to any insurance policies and proceeds r�sulting fro� , �•:_,_
<br /> a agra
<br /> ` damage to the Progerty prior to the acquisitioa shall pass w Lender to the excent of the sums se�ured by this SecuritY Insuument �-�: ^.�'�
<br /> immediately prlor to the acqnisidon. • `~�?�.�>�.
<br /> 6.Oocupancs'.Preservatlon,Maintenance and Yrotedion oY the Property:Borrower's Loan Appi2cat[on.Leasehoids. � .,- r:_
<br /> Bosrowet shall occugy,establish,and use the Property as Borrower's principal nsidence within sixty days after the execution of . : ". ;. , .
<br /> ' this Security Insuvmeat and shall continue to Qccupy the Property as Borrower's princtpal residence for at leasc one year after �' : .� ',: `,.. _
<br /> the daze of ocaipancy.unless Lx:nder othera+ise agcees in writing,which consent shall not be unreasonably withheld.or unless ,:,..
<br /> extenuatiaS circumstances exist which are beyond Borcower's control. Borrower shall not destroy, damage or impair the `,::�T-
<br /> ' w Pro to deteriorate,or commit waste on the Pmperty. Borrower shall be in default if any forfeiture . � ''� �
<br /> ProPertY, allo the perty '•
<br /> action or pmceeding,whether civil or criminal,is begun that in Leader'g Boad�ai�►ludgment wuld result in forfeipue of the c>
<br /> pmperry or otherwise materially impair the llen created by this Securiry Inswment or L�ender's savrity interESt.Borcower may Yf�,' : .
<br /> � au�e such a default and ninstate,as provided in paragiaph 18.by causing the acxion or proceefling to be dlsmissed with a niling {.•.
<br /> that, in Leader's goad faith determination, precludes forfeiwre of the Boaower's interest in the Property or oYher material - " `� : �
<br /> • ," impairment of the lien created by this Sxurity Insavmeat or Lender's se�urity intere.st. Borrower shall also be in default if . r,_,—
<br /> Borrower,during the loaa appllcation process.Save materially false or inaoauate informauon or statem�ts w L,ender(or failed � . � �Y
<br /> to provIde Lender with aay materinl infurmauon)in connecdon with the loan evIdenced by the Note,including,but not limited ������t
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<br /> :'.� w.reP�entations vonceming Borrower's occupancy of tht Property as a principal residence.If this Security Instrument is on a .. �
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Bomuwer acquires fee atle to the Property. the ,��
<br /> ' ' le�old aad the fee title shall not merge unless Lender ag�ces to the merger in wridng. . � ����°, � —
<br /> � ; 7.Protection of I.ender's Rights in We Property.If Borrowes fails to perform ttte covenants and agreements contained in i,;.,.
<br /> '• t63s Security Insuument.or there is a legal procceding that may significandy affect Lender's rights ia the Praperty(sucb as a - , • . . ' :�
<br /> ; psuceeding ia banYruptcy,pmbau, for condemnatlon or forfeitute or w enforce laws or regulations),then Lender may do and - ,r�.�-..._
<br /> �.y .
<br /> � ; pay for whatever is necessary to pmtect the value of the Propeny and Lender's ri�his in the Property. Lender's acEions may : . s
<br /> include Paying anY sums secured by a llea which has priorlty over this Security Insttument. appearing in court, paying . • �. '
<br /> • reasonable attomeys'fee.s and entering on the Property to make repaiis.Although Lender may take acxion under this paragraph .. . .
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<br /> , 7,l.ender das not have w do so. ,
<br /> • My affiounts disbu�sed by Ixnder under this paragraph 7 shall become addirional debi of Eorrower secured by this •W
<br /> ' Security Instrument. Unless Borrower and I.ender agree to other terma of payment.these amounts sha11 bear interest from the
<br /> � date of disbursement at the Note rate and sha11 be payable, with interest, upon notice f:um Lender to Borrower requesting � . � r-
<br /> • payment. ' . �:..
<br /> • � 8.Mortg¢ge Ln�surance.If Lender required mortgage insureuce as a conditlon of making the loan secured by this Security _
<br /> Insuumenb Boirower shall pay the premiums requind to maintain the mortgage insurance in effect. if, for any reason, the . �
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effea,Borrower shall pay the premiums required to � -• _
<br /> obtaia coverage substantially equivalent to the mortgage insurance previously in effect.at a cost substandally equivalent to the , .�
<br /> cost to Borrower of the mortgage insurance previously in effect, from an altemaic mortgage insurer approved by Lender. If
<br /> substantially equivalent mortgage insurance coverage is noi available.Borrower shall pay to Lender each month a sum equal to _
<br /> onatwelfth of the yearly mortg�ge ins�uance pr�mium being paid by Boaower when the insw�ance coverage lapsed or ceased to , �.__
<br /> be in effect.Lender will accept.use and retain these Payments as a loss reserve in lieu of mortgage insurance. Loss resecve •
<br /> Form 3028 9190
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