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<br /> � � ' S. Harnsd or Property' ln�wanec. &�rr�n�rr .hali krep the impnn�emrnt� nua rxi.t�n� .�r h4r;after ��nti'cai un cht .
<br />: ' r Pr"pcm in,ur��i a,ain.t lors by fire. h:u:ird. m�luJctil ti�ithin thc t�rm "e�tendui cmersgc" and 3ng ct.�er h:uard+, mcluding ,_ . � , ,
<br /> , . t�u��d.ar ffw�ding, fiir«hich Lender reyuin�in.uremr. Thi,in+uranr�+hall tx:n�int:iinc�l in die am�runt.and fi�r tfie prri�id� ..
<br /> that Lcnde�rt:yuin-.. The in�ur.u►rr cacner pru�iding the ia,uranrr+hall he rho.en h}.Borru��er�uhj4�n t.� L�nder'.appnn�ai � :
<br /> • , ��hirh ,hall not lk unn.���rr.�trl}• «ithheld. If Burn��«�r fail,m m:iiniain ru�rrage dr.crihed ahove. L�.�nder ma�. �t L.c:ndcr's .,.
<br /> � uptiun.�,htain�tineragr tu prai�rt Lrnder'+rig!►t�in the Pr��prm in accord:uire w�th paragraph 7. . . . °�
<br /> . � ._ All insurancr pulicie.and rene�.al+ .h:ill he ar�t,•ptable to Ixndcr:u1J ,hsll inrlude a ,tandan! ntr•n��agt clau�e. Lender ' • � '
<br /> ` - - - �hall h;�se the nghl tu iwt�!thr puficir�and rrttewal±. I6 i.ender reyuire�.Borro«es,ha!!promptl�give o�ixnder all rerript�of
<br /> `�:� ' ' � �—t �
<br /> paid premiums and reneical notice�. In the«�ent.sf locti,Borrower shall give prompt nutice tu thr insuraner�arrier:uid Len d er. '
<br /> , � [.endrr may make proof of loss if not made prampdy hy Borroa•er.
<br /> . iJnle.,s l.ender and Barrow•er othcrnise agcee in��Titing,insurance pra�-eeds shall be applied t�►n:ssuration or repair of the
<br /> - _ Property damaged.if the rcstoration ar repair is economirally feasible and Lender's security is not le+sen�.If the r�taraEion ar _ �. ,. . ,_ _
<br /> ' ; repair is not economically feasible ur lxnder's se�-uriry Hould be le�sened. the in�urance proceeds�hail be appliai to the sums ; . � .,. . '
<br />. � secured by this Sec�rity Instrument. whether ar not ihen due, with any excess paid to Borrower. If Borrow•er abandans the ;;a�;.Y �. .. :
<br /> . , �. • Properry. or does aot aiuHer wi[hin 30 days a notice irom l.ender thai the insurance carrier has offered to senle a daim, then T`�f�� �''t
<br /> :,�,s., .
<br /> Lender may rnpect the insurartce praceeds. Lxnder may use the proceeds to repair or restore the Pmpeny or [o pay surr�s z �;f:;...
<br />- , , secured by this Security Imtrument. «•hether or not then due.The 30-day period�vili begin when.d�e notice is given. _ ��.����:•
<br /> . � Unless Ixnder and Borrotiver othenvise agree in writing. any applicatian af praceads ta princi�l �iraJ1 oot extend ur . . ; _ _
<br />- ` • postpone the dae date of the monthly payments referred to in�raphs 1 and 2 or ci�ange tite amuwit vr ti�e payments. If `.� . '. .. '
<br /> � under pamgraph 3! the Praperty is acquirod by Lender. Burro�ver's right to any insursn�paliva and proce�Is resulting fmm `�`� `�`:��'
<br /> �, • damage to the Fraperty priar to the acquisit►on shall pacs tu Lender to the extent of d1e sums se�.wed by this Security Instrument ' � • .
<br />_ � ' inunadiazely prior to the auquisition. ':.: _..
<br /> � • 6.Qccupuncy,Presecvatton.Maintenance and Pratection oP the Pro�ert�: HorroKer's Loan Apptlratton:S.easeha�Ids. ` -- --
<br /> . ` Borrower shall accupy,establish,and use the Propeny as Barrower's principal r�id�nce within sixty days after the execution af {Y:� ,: : -�
<br />_ �. � �,.�:� this Security Instrument artd shall conunue ta accupy tbe Property as Bortower s Rrincipal residence for at least one year aher , : ; .�
<br /> the date of occupancy.unless Lender ottverwise agrees in writing,which coruent shall not be unreawnably �vithheld,or unless � _
<br />. , , '•� extenuanng circumstances exist whicfi ace beyond Borrower's control. Borrower sfiall not destmy. damage or impair ehe � -.��"-;:
<br /> .. 'Y F.,...
<br /> •, :.` Property, allow the Property to deteriorate,or commit waste on the Property. Borrow•er shall be in default if.any forfeiture • . �t�. .
<br /> ' , action or proveeding,whether civil or criminal. is begun that in Lender's goud faith judgmerrt could result in f.vrfeiture of the
<br /> •� Property or otherwise materially impair the lizn created by this Security Instrument or l.endei s security interes[.Borrower may • �
<br /> .,..� �.�.,
<br /> - � cure such adefault and reinstate,as provided in paragraph l8,by ca�iug the action or praceeding to be dismissed with a ruling ,,� �•
<br /> � that, in Lender's good faith detertnination, precludes forfeitur�oF i�r�.Barrower's interest in [he Property or other material ��,�.
<br /> � '' • impairment of the lien created by this Security Instroment or Len��'S s�uiry interest. Borrower shall also be in default if �,.:;k;:
<br /> . � Borrowec,during the loan applicauon process,gave materiatly false o*inaa.-u-�te.ir_formation or stutements to l.ender(or failed ;t:��,: �..
<br />- ,, ' � to provide Lender wi[h anr:naterial information)in wnnection with t2:e l�an evi�.�eci by the Note.incEuding,but not timited :�,"�-:. `�' , -'��'•
<br /> : ��,,i _.
<br /> ��� �. - to,representaiions conceming Borrower's occupancy af the Property as a principal residence.If this Securiiy Instrumer�t is on a _' ' . ;:'+�"'.
<br /> leasehald. Bonower shall comply with all the provisions of the lease. If Borrower acquir� fc�e title to the Property. the • � �'�•
<br /> , • '���:�-'
<br /> • � . leasehold and the fee title shall not merge unless l.ender agrees ta the merger in writing. . • "di`:�°:.s
<br /> � 7.Protectlon ot Q endes's Wghts in the Prope►tc.If Borrower fails to perform the co�•enanis and agreements contained in ' ^�f
<br /> • ' t�is Securi Instrument,or there is a I al roceedi t�at ma si ificantl affect L.ender's ri hu in tLe Pru ert (such as a �'-""'"'�"
<br /> . • ty � P � Y €n Y S P Y �. .�',f:,�:
<br />.'�'. �� � proceeding in bankne�tcy,probate, for candemnation ar forfeiture ar to enforce laws or regulations),then l.ender may do and . ' .: ___
<br /> � • pay for wCatk�er is cte�essary to protect the value of the Propestg ,;,nd Lender s rights in the Property. Lender s actions may • � ��
<br /> - ��� . . . include pa}i:a any sums secured by a lien which has pr'saril} u•.0 this Security Instntment, appearing in court, paying �
<br />;,�,,' .: , ' reasonable attomeys'fees vnd entering on the Properry tn make c�rs.Although I.ender may tsilce acuon under this paragraph , � ,,.,:�
<br /> , _ :
<br /> - 7.Lender does not have to do so. .. � —
<br /> ' � ,' Any amounts disbursed by Lender under this paragraph 7 shall become additional debt af Borruwer secvred by this • �`�.,.,`'�
<br /> ,�,•�.;,.•.y...�-
<br /> : Security Instrument. Unleu Borrower and lxnder agree to other terms of payment,these amounts shall beat interest from the � � � ,•t§�.,�:�}
<br /> . �°�.f4i;'����i' '-
<br />,.�,� . . • date of disbursement at the Note rate and shall be payabte. with interest. upon notice irom Lertder to Borrower requestir►g . '. .�,,�4.,,_i. ..
<br /> -- - � - �ayment. � . ..
<br />__ ' . • 8.Mo�tgage lnturance.If Lender required mortgage insurance as a condition of making the loan secured by this Securiry .•t '-'�� 1 � •
<br /> ��� '� instrument, Boaower shall pay the premiums required to maintain the inortgage insurance in effect. If, for any reason, the , . �
<br />��t ...':t, mortgage insurance coverage required 6.l.ender lapses or c.eases ca be in effect. Borrower shall pay the premiums reqnired to .
<br /> , '� '' ����; obtain coverage substantially equivalerJ r,a cfie mortgage insurance previously in effect.at a wst substantially equivalent to the �
<br />-�-`« �:�•,,;._, ` wst to Borrower of the mor�gage insuruu:e Frevic.u:ly in effect. fmm an .Iterna!e mortgage insurer apprered by L.ende�. If , � :s;,
<br /> �r"• " � substantiaUy equivalen[rr,,�rr.�age insursr.ce a�vera�e�ti not availal�le. Bartnwcr�h:il!pay to Lender each month a sum equal to •
<br />:�°.;�� . one-twelfth of the yeari;rrc;toage i;�ura:,ce premiur�veing paid by&�rtvwer wi.en the insurance coverage lapsed or ceased to . � , �
<br /> � be in effect.�der will accept,use and r�ain these payments as a l��s reserve in lieu of mortga�e insurance. Loss reserve � .�,
<br /> Form 30Z8 9/90 � . .
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