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<br /> 5. Ha�.�rd or Property fnsur�nce. Dorrowcr shuii kecp thc improvciucnt, n��w existing un c�reulicr crcctcd un it�c
<br /> Nroperty insured a�ainst loss by firc, huz:uds includcd within thc tcrm "cxtcndcd cuvcr��gd' �atd uiry ��thcr haiurds, including
<br /> floods or flaoding, f�ir wl�ich Lcndcr rcyuires insurancc. This insurancc shall bc maintaincd In lhc:�muumti:md fiir thc peri�xis �
<br /> thtit Lcndcr rcquires. Tl�c insurancc carricr providing thc insurancc shull bc choscn by Bnrr��wcr suhjcct tu l.cndcr's upprov:�l
<br /> �ti�hich shall not bc unrc��on;+hly «�ithhcld. if Dnrrowcr fails to mnint�iin cnvcrngc descrihal aBovc, L�:ndcr n��ay. .ii Lendcr'�
<br /> option,obtain coverage to pratect l.ender's rights in the Property in uccorduncc with parngraph 7.
<br /> All insurnnre policies and renewols shull be ucceptable to Lender and shall include •r sta�xlurd tnurtgage clnuse. L.ender
<br /> shall have tt�e right to hold�hc policies and renewals. lf I.ender requires,BoROwer shall promptly givc to La:ndcr ull rcceipts of
<br /> paid premiwns and renewal notices. In the event of lass,Bc�rrower shall give prompt nodce to the insurance carrier and I...ender.
<br /> Lendcr may make Nroof of loss if nat made promptly by�Et�rrower.
<br /> Unlcss I.endcr and Rorrower otherwise a�ree in writing, insurance proceeds shall bc applied to restoration or repair of tlie
<br /> Property dnnt�ged,if the restoration or re�xir is economically feasible and I.ender's security is not lessened. If the restoration or
<br /> repair is nat economically feasible or Lendar's security wauld 6e lessened,thc insut�nce procr.,eds shall be applied to the sums
<br /> securcd by this Security Instntment, whcther or not then due, with any excess p�id to Barrower. If Barrower nbandons the
<br /> Property,or dces not answcr within 30 days u natice from Lender that the insurance carrier has offered to settta a clnim,then
<br /> Lender may wllect tho insurance proceecls. Lendcr may use the proceeds to repair or restorr the Property ar to pay sums
<br /> secured by thls Security Instrument,whether or not then due.The 30-day period will begin wAen the natice is given.
<br /> Uuless [.e��1er wxl 8oc�uwer other�vise agrze in writing, any application of procccds ta principat shall not exteti�d ar
<br /> postpone the due datc of the monthly paymenu referred to in paragraphs 1 and 2 or change the amount of the payments. If
<br /> under paTag�aph 21 the Froperty is acquired by Lende�, Eorrower's dght to any insurance policies and proceeds resulting from
<br /> darr►age to the�'roperty prior to the acquisi�tion shall pass to I.ender to zhe extent of the sums secured by this Security Instrumeni
<br /> immediately priar to the ucquisition.
<br /> 6. Occupuncy, �'reservation,MAintennnce and Pratectlon of the Property;Borrower's i.oan Applicatlon;I.easeholrls.
<br /> Borrower shall occupy,estnblish.and use the Propeny as Bonower's pr�ncipal residence within sixty days a9'ter zhe exxution of
<br /> thia Security lnstrumem and shall cantinue to occupy the�roperty as Borrower's principal residence for at lenst one yeur after
<br /> • the date of occupancy,unless Lernier otheiwiise agrees ln writing, which consent shall not M imr��wnably withheld,or unless
<br /> extenuatiag cir+cumstanccs exist which are btyond Battower's control. Borrower shall not destroy, dwnage or impar the
<br /> Property.allow the Property ta deteriarate, or commjt waste on the property. Barrawer shn3l be in defau3t if any forfeitu�+e
<br /> iri.ti"vi 'vi � i' i i � a �o '� e�;:~ �'a ...:: 1� i� .P �f�l:.r
<br /> i'i i�Cict�{���i'ir�icpu.P C.iii� C�i�.iiiiil�+• ii�'ri.�iIii i+tlat 3n t.�nwCT at'i^v�. .jw�.�`:."� r^C:YZ�!C.°,'S. f'J CSt!!SL
<br /> � Property or c�therwise inatorinlly impair t�e lion created by this Security Instrument nr Ixnder's security interest. �onower may
<br /> " cure�uch a defnult and reinstute,as provided In para�raph 18, by cuusing the action or procceding to be:dismissed with a rt�ling
<br /> S thet, in I.endcr's good faith de:ermir�atiun, precludes forfcitun of the Borrower's interest in the Prapeny or othsr matcaal
<br /> � impairnxnt of the lien cnatai by this Security Instrument or Lender's security interest. Bonrower shall also be in default if
<br /> t Borrower,during tha loan application procrss,gave materially false or inaccurate infornwtion or stetements to l.endor(or failed
<br /> �� to provide I.ender with any rrwtsrial information)in wnnection with the loan evldenced by the Note.including,but not limitod
<br /> to. rcpresentations concerning Rorrower's c�ccupancy of the Property as a principal residence.If this Security instrument is on a
<br /> � leasehold, Borrowcr shaU comply wlth all the provisions of the lease. If Borrowcr acquires f'ec titic to the Property, the
<br /> •� le�usehold uxl the fee title shnll not merge unless Lend�r agras to the merger in writing.
<br /> 7.H�otectbn nt I.ender's Rlghts In the Pro�xrty.if Borrowcr falls to perform the covenants and agrcements contaiixd in
<br /> � thia 5ecurity Inatrument. or there is a legal procoaling that may si13oificantly affect I.endar's rights in the Piuptrty (such as a
<br /> procoeding in bankruptcy�,probate, for condemnation or forfeitur�or to enforce laws or regutatlons), then Lender may do end
<br /> � pay for wliatover is nocessary to protxt the value of the Property and Lender's rights in the Prope�ty. Lendar's actions may
<br /> � include paying any sums secured by a lien which tias priority over this Security Instrument, ay�earing in court. paying
<br /> rcasonAble attorneys'foes snd entering�n the Property to make repai�s. Although Lendcr n�ay takc action under this paragmph
<br /> 7, L.ender das tat hAVe lo do so.
<br /> Any amaunts disbursed by Lcnder under this paragraph 7 shall become additional d�bt of Borrower stcured by this
<br /> , Socurity Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the
<br /> date of disbursement et the Notc rate and shall be payable, with interest, upon notice from Lender to Borrower requesting
<br /> � payment.
<br /> • 8.Mort�e Inwranet.If Lender required mortgagc insurance ns a wndition of making the loan socurod by this Securit,y
<br /> InstNm�nt. Borrow�r shall pay the prenuums required to maintain the mortgage insurance in effect. If, for any reason, the
<br /> � mortgage insunuice covenge�equired by Lender lapses or ceases to be in effect.Bo£rower shall pay the pnemiums required ta
<br /> obtain rnverage substuit�ally equlvalent to the mo�-tgage insurance previously in effect,nt a cost substantially cquivelent lo the
<br /> � rnst to 8onower of the mongegc insurance previously in effat, from an altemate mortgage insurer appro�•ed by Lcnder. If
<br /> ', �ubstantiaJly cquivalent nwrtgage insurana coverag�as nc�t available,Borrower shall pay to L.ender cach month a sum cqunl to
<br /> . one•tweltth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to
<br /> . be in eftect. Lr.axler will acapt,use an�r�etain these payments as a I�ss reserve in lieu of martgage insurunce. Loss nserve
<br /> ; Form 3028 9/90
<br /> Pqs 3 of 6
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