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<br /> . , `, 5.Heaerd or Property Iasnrauce.Bnrrower shall geep the improvements aow eaisting or hereafter erected oa � :
<br /> � ��•� the Property insured ogauist lasg bg fire.hs2ards iacluded within the term°eateaded wverage°aad aay other hazards. � ° �:
<br /> This iutnuauoe shall be tnaiatained in the amounta
<br /> - ��' .-'.�: including f Ioads or tEooding.ior which Leader requires iasusance. vidin the iasurance shaU be chasea 6y Eorcower -
<br /> .. . . s aad ior the periods tbat t�emder requires.The ipaurance carrier pro . . g ; ..:�
<br /> .- ..�:{; subject to Lsader's approval wtucb ehaU not be unteasonably withheld if Borrower fails to meintaia wverage described ; c. 4.
<br /> - -- ai��+e.LEadet may.at L r e n d e s's opti o n,o b t a i n w v e r a g e w p r o t e c t Leader's ri p,hts in the Property in accordance wrth
<br /> `.� • . _ p��Ph?. -
<br /> Ail�nsw�ce policiea ead renewals sha11 be aocegtab2a to Lender and shail inctude a staadard mortgage
<br /> clau�. ._'
<br /> . Len�es s1�a11 have the right w hold the policies snd reaewals.If I.eader requires. Borrower sball promptiy�ive to ':',r.;
<br /> ' _, .... .. Leader ell receipts of paid premiums ead renewal notices In the event of lo�.Bortower shaU�ive prompt notice to the
<br /> .. .. i�surance carrier and Len4t�.���'map make proof of lasn if not made pramptly by Borrower.
<br /> ` . ���:.Y Unless Lendee and Borro�ver otherwise agrea ia writiag.iasuranco P��shall be agplied to resooration or�pair
<br /> .<.;.
<br /> . , � ��: of tDe Propetty►damaged.if the r�mration ar eepair is e�oaomicaUy feasiutd les�aed.the iASUrance pmceeds st�all ise . �,�
<br /> . . .. ,��';� testorstiaa or repair ie not economicaUy feasible or I�ender's security
<br /> " : ''= applied to the sums securefl by tius Securit9 Iflstrumenb whether or aot then due.with any sacess paid xo Bomnwey'-If . �.' ` r '
<br /> , � ' Borrower e�a n d ons t he P r o p�t y.o r d o e s a o t a n s w e r w i t h i a 3 0 da y s a trotice from Lender tl�t the wsuraace carries has FA_ . �'
<br /> � � ''�'' offered to settle a ctaim.then Lender may collect the insureace Fraceed�.Lender may use the pra c e e d s w�P�� 11 ;r� 't� ''
<br /> � restore the Pro�ert9 or to pay sume�1�Y����Instrumen�whetherar aot then due.TAe 3�dey period '
<br /> . :` '�`� .'' _ begin when theaoticeia given. ,�,�r� :
<br /> � Untess I.ender aad Bornnwer athetmise agree ia�sdting.auY aPFlication oY pmceeds to principal sba11 aot extend or , .
<br /> . � .,=_:- postpone the due dete of the mvntWB FaYments referred to in pazagraPhs 1 and 2 or chaage the amrnuat oi the paymerrte• ����'�. . ��
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<br /> . _ . ;.:.ti ti imder paraSraPh 21 the Properts►is acciuu'ed bY Lender,Horrawer's right to anY insuta�ce policies aad pra �. .
<br /> : . ��aulting from dafiage w the Propesty Prior to the acquisition shall pas�to Lender w ffie eatent of the sums secured tiy _�'. L �
<br /> . . � � ' this Security Instnameat imm�distelq Prior to�the acquisttioa. p , ltcatiari:, ; ',,' ;
<br /> . � . , � ""�'�� 6.Oocupnacy.Preservatioa.Maintenam�e aad Protectlon of the Pro erty;Borrower s Loan App . _
<br /> .. ., �. ,. '..,.:r�;:�:. Leasehotda Borrower shali occupy.estsblisb,e.nd use the P�perty as Borrower's priucipal e+esid$nce wIttdn eisty.daYg: ;'�1�_ .
<br /> the Pra as Bntmwe�'s.p��P��
<br /> efter the eaecutiaa of this Secutitq Instroment and shall co�iaue to oxuPY P�', , . ;,
<br /> . . . , , residence for at last oae year after the date of occopancq.unle�Lender otherwise agrees in wsung,wbIch cousent�l[ _..�
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<br /> � not be unreasonab�y withheld.ar u a lea�e x t e n u a t i n g c i r c�m s t a n ce s e s i s c w h i c h a r e be y o n d Bonowes's.cobtrol.Ba�� .;�....
<br /> -:.�, sball aot deatroY.damage or impair the PrapeMy�allow the Pr+opert9 to deteriorate�ar commit waeto.ua the P�Y• � '��:
<br /> ���r whether civil or crimiaal,is i�e�ia t�►at ia Leade�s ��„
<br /> _ • ..� Bflrrower shell be in default if at�y forteifitte action or groceedin8, � . . ' -„�__
<br /> ; ' gaod faith judgment could result in forPeiture oi tTne Propertq ar otherwise materially impair , a ken createc�by tlus' _
<br /> . . • SeivtltY Inattument or Lend�'s secusity iateresc. Borrower raa3► cure sach a defautt and re�astat�es pmvided in. �:
<br /> .' to be dismissed �vith a ruling that, in Lertde�s good �aith .;..•„
<br /> �: % F�B�P� i8. bY causing the actioa or proceeding or other.t%�tetiel impairment of t�e lien ,�
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<br /> � . . _ deterazinatioa,precludes forPeiture of the Borrower's interest ir►tha PropertY .
<br /> . created by this Securit9 Instcument o�I.ender's securitY interat.Bortower absll also be in dEYsuit if�oscowerrduriag ;.
<br /> . . ' . . .. tl�e loaa application pracess.8ave materialiy faIse or i�accurate informatioa or statemeats w Lender ��'�but not �--.
<br /> � ' provide Lender with siuy material in4ormatioa)in wauectiort with the loan evidenced aiy��d�ce cIf�is'Securit�►
<br /> ' � limited t�,rePresentationa concerning Borrowe�e occupattcs+of the Ptoperty,as a p�ia 'pal �
<br /> -_- -_- - -- - Instrumeut is oa a t�ld��wer shall comglp with all the provisions of the lease.If Bonower acquires fee tifle to ��,:-,-
<br /> � the property,the leasehotd arid ttie fee title shall not merge unlesa Leader agreea to the merSer in writiag.
<br /> �-.;.
<br /> 7.Protectioa o3 Lender's Rights in tho Froper4y.If Borro�er isiia to perform the oovenaam aad agreementa _
<br /> . wnmiaed in ttis 3ECUrity Iustru�nent,or there is a 1ega1 praceeding that map sigAificaafly.affect Lender's rights iu�tAe �_.
<br /> ti
<br /> pmpertq (sucb as a proc�ia� ia baakruptc9. Pmbate. for coadeaaaation or forPeiture or to enf� la��,s —_-
<br /> . rEgulations?.thea Lender may do aad pay for whatever is tte�'9�P�tect the value oi the Property r�
<br /> � . ,�.;. nghts i�e the Property.Leade�e 8ctians may iaciude payipg eay su�ns se�sred by a tien which bas prioritq a�er ttus
<br /> � �. . gecvrity iastrument.ePPearing iA court.Paring reasonabte auomeyd fees and eatering�n the Progertq to mals�.r�=Paire. F �-;`.
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<br /> . �• A l t h c t u g h L e a d e r ma y take action vnder thie paregraph 7,Lender daea not have to do so. :;...
<br /> • Aag amounts disbursed bq LetWer under this paragraPb 7 s h a l l b e c ome a d d i tio n a l d e b t o P B o r r o a�e r s e c u r e�t�Y t h�s !.- ,
<br /> � S�rsi�y'�usttumen�Uale�Borrmwer and Leader a8ree w other teima oi paymeat.these amounts sbaU bear antet+est t _
<br /> �:.i�::•;: .�`'�� '. f r o s n t i s,�.d sts of disbursement¢�t'9�Note rate and shaU be gaFable.with interest.upoA notice ftom Lendet to&tucower , {
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<br /> _ . . S.Ndortgag�L•ne�rence.If Lender requis�ed mortgage:nsutaace es a oundition of makin�the loan secured by this
<br />- SecuritY Insttt�mc��1�onower sha11 pay ttie premiuma required.to ma3rctain the mortgage insuraace in eifect.If.fot ai►y � ,r�:"
<br /> . . �:;F. reason,the mort�ge inauraace covera�e reqwred by Leader tapsa or oeases to be in effect.Borrower eball paq the `
<br /> � ... .. prelniurna required to obtain wverage substentially e�uivalent to tha mottgaga iasuraaoe praviously in effect,at a cost �,.:..:�
<br /> - �ul�nnti2ilp equivalent to the cast to Bonower of the rrsort�ge insuranca previouslp in effect.frosa an a�teraate E:_:,_;,
<br /> . . raortgage insurer approved by I.eader. lf substantiallp c�suivalent mortgage insuraace coverage is nos ��ailable� -
<br /> i
<br /> � Bonower she11 pay to Lende�'each month a sum equal to one ewelfth of ttie yearly mortpge insurance premium bei�
<br /> ' paid by Bore+�wer ahen the ins�raace coverage la�ed or ceased w be in effect.Lender wiU acceg�,c�e.and retain these •
<br /> • ' . pa9meas� as a loss reserve in lieu of mortg�age �nsuradce. 1.os9 reserva payments may no Ya�ger tse re9uired,
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<br /> .. . � F�m SD� 9/90 .
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