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<br /> �, -;(,_� _ 5. Aazard or Property Iasarance.Borrower shall keep the imgrovementa now esisting or hereafter erected on 4 `c ` .
<br /> the Property insured against lo�by fire.ha7ards included within the term"esteaded coverage"and any other hazards, •;.<` `�
<br /> : '=��-r•-�3 � includiag floods or floo d'ing,for w b i c h L e n r 2er r e q u i r e s i n s u r a u ce.T h i s i n g v s a a ce s h a U b e�s i n t a i a e d i n the amounts -- -_---- -j =
<br /> ` - aad for the periods that Lender requires.The insurance carrier providing the iasurance shall be chosen hY�omower . .
<br /> � . . aubject to Lender's approval which shall aot be unreasonably withheld.If Borrower fails to maintain ooverage described :_ .,.,, , `;
<br /> �� abov�1�tder may.at I.eader s ogtioa.obtain coverage to proiect I.endei's rights ia the Property ia accurdance with . •., ,..,:
<br /> - ParaSraPh 7. ,; �,� :':-4,
<br /> � All insurance policies and renewals shaU be aoceptable to Lender and shall iaclude a steadard martgage clause.
<br /> _ ' Borrowet shall rom ve to r�,� : "`''•
<br /> ' I,ender sLaU have the right to hold the golicies aad renewals.If Leade�'recluires. P P�� ��Y.:. `.
<br /> aU
<br /> �4 � � � Lender atl receiptsof paid premiums and renewal notices.In the event of Ioss,Bomower shaU give Promp2 notice w the , :�,_:�, ... :
<br /> insurance carrier and Leader.Lender a�ay ma�se praof o#loss if not made promptlp by Barrower. •�` �
<br /> ' ` Unless Lender and Borrower otherwise agree in writing,insuraaoe praceeds shall be applied to restoration ar repair - _
<br /> ' of tb.�Pmperty dainaged,if the restoratioa or repair is eomn�mically teas�ble and Lender's security ia not lessened.If the ..
<br /> ` restoration or repair ie not ecoaosaicaUy feasibte or Lende�s security wovld be lessened.the ins�rraace proceeds shaU be ,�1; '
<br /> aPPlied to the�s secused by tbis Se�vritp Instrument,whether or not tt�en due,wiffi any eacess paid to Borrower.If
<br /> . � .,� . � Borrower a6aa��as the Praperty,or does aot as�swer within 30 daps a�..�ce fmm I.cnder that the iasurance cazrier hss ..',..� ,
<br /> offered to settle a claim,then Leader may collect the insuraace proc�eed.�.Lender maY use the proceeda w .fePa' Il .
<br /> : .. , rest�se the Praperty or to pay sums secured by this Security Instrumen�whether or aot then due.The 3o-day pen rt �;: .
<br /> - --. -- - be�-ir,'a$henthenoticeisgiven. . ' ", "t�s'"�.'`' .:
<br />, � •' .�',,h•: BTnleas Leitder sud Borrowet otherwise agree ia writing.aay aPPlication of proeeeda w principa1 shsll aot eatead or ;:�,;�;-'�., ;:
<br /> • . Poscponc the due date of the montLly payments referred to ia pasagraphs l end 2 or change the aiaount of the payments. .�: < < ° -
<br /> � , •,, :. If under paragcaph 21 the Property is acquired by I.ender. Borrower's right to auy insurauce policies and proceeda :v, a`
<br /> . • �esvltis�g frem dsmago to tha Property prior w thc acqt�isition shati pass to Lender to the estent of the suma secured bp , .f
<br /> Ie .:_..:,._:._.--'.
<br /> tt�s�curity Iastrumeat immediately prior to t3ie acquisi�on. ,—
<br /> � • �a,Occapancy.�eservatioa,Maintenauce and Protectian of the Property:Honowes's Loaa Applicat�on; , ;
<br /> � � Leaseholds.Borrower shaU accupq.establieh,and use tbe Property as.Borrowet's gr�ncipal s�id$uce within siaty daYs "''`.':.._
<br /> � . . :'` ` : after the esecution of this Security Instrument•aud ahali contiaue to oocupy the Property as Bornowesrs principal .
<br /> - .� reaidence for at te�sc one year after ffie date of occupana9.unl�Leader otherwise agrees ia writing.wlucb curlsent shaSl , � -
<br /> � •� not be unreasonably withheld.or unless estenuating citcumataacea esist which are beyand Bornuwe�s control.Boimwer $�", .:,` �
<br /> � ' � s h a ll a o t d e s tm y,dama ge or im pair the Propertq�aUow Rhe Property to deteriorat�,or cammit waste ou the Property. �� "�,.
<br /> . Borrower shaU be ia default if aay for4eiture action or groceediag,whether civil ca:L?imiaal,ia b e g ua t b at in L e n der s :'�,�; � :
<br /> , . . -; gaod faith judgment could r�ult in forPeiture o f t ha P r o p e t t y or o t herwise m a t e r i a ll y i m p.�i s t h e li e n c r e a t e d b y this ".;=�^ _
<br /> � �..
<br /> � Securitq Ir�strumeat os Lender's sectuity iuterest. Borrower may c�ue such a default aud a+einstata. as provided in ,:'�t,,.. ','
<br /> ' � � paragraPh 18, by causittg the action or proceeding to he dismissed with 8 raliag that. in Lendes's good faith �;�...
<br /> � � • � " dete�mination,pr+eclades forfeiture o4 the Borrower's interest in the Propesty ar other matetial impairment of the lien <,,�„•y, :,;
<br /> ;� �� �
<br /> � � � � created bp ttua Security Iuatrument or Lend�rrs securitg':aterest.Barrower ahall also be ia default i}Bonower,during _,-�-
<br /> . . the loan app3ication process. gave materially 4alse or inaavrete information or statements tv Leader (or failed to " . . '
<br /> .., provida Lender with any material is�formation)in wnnection with the loaa evidenced by the Note�including,but not � ~ ��'�V„�;°�
<br /> . limited to,representanons concerning Borrower'e occupanc9 of the Pmperty as a priacipal reaidence.U ttus Security ,;a;�
<br /> � insttument is on a leasehold.Borrowet ahall comply with all tha provisions of the lease.If Bormwer acquirea fee titte to
<br /> n - -
<br /> � � the Properry,the leasehotd aad the fee titie ahall not merge uales�l.ender agrees w the merger 6n a'ritinPr ,� _ -
<br /> � � �.Proteceion ot Lender's Rights in the Propertq.If Borrower 4sils to g�rPorm the covenants eud�greements Y ,, -- _-
<br /> contsiAed ia this Security Instrumen�or there is a 1ega1 proceeding that may sigmficantly affect Leader's ri g hts�n tha _o -
<br /> " Property {such as a pmceeding ia ban.�cruptcy� Probata. for coademnation or forPeiture or to enforce laws ot ,; �
<br />_ ° re g u lations}.tt�en Lender may do aud pay for whatever ia n�rq to protecc the value of the Property end I.ende�a ; �rt:
<br />_ . . : rights iu the Property.Lender's actions may inc l u d e paying any s u m s s e c u r e d b y a l i e n w h i c h h a s p ri o r i t y o v e r t h i s : ..j_:-.;,.
<br /> .0
<br /> Seceir�ty Instrument,aPPearing in court,paying reasonable attomep�f�s and entering on tha Psoperty to fiaake repaira.
<br /> - 7,Lender doea not have to do so. ```'�`
<br />-- � Atthough Lender may take action under this paragaph h 7 shaU become additioaal debt of Basrower se�ured by this _
<br /> ` , . Anq amounts disbursed bq Lender under this pasagraP ,
<br />_ : ' Security Inatrument.Un2es9 Bonower sud Leader agee to ost►er terma of payment,these amounte shall bear interest ,. _
<br />''��`., , from the date of disbursesaent at the Nota rate and sha116e payable,with interest.npoa aotice fmm Lender to Borrower •
<br /> . � recNesting paymen� e insurance as a condi�on of making the loan secured by thia .
<br /> � � 8.Mortgege Iasuranee. If Lender required mortgag ' .
<br /> Security Instrument.Borrower ehall pay the premiums required to maintaia the IInortgage insurence in ef fe�t.U,for any ..
<br /> = � . reasos�,the mortgage insurance coverage required by Lender lapse.s or ceases w ba in efferx.Bonowor shall pay the �
<br /> � premiuma requited to obtaia coverege substentially equivalent to the mortgage insurance previausly ia e4fect,at a cost ,
<br /> - � substaatiallq equivalent to the cost to Bonower of the mortgage insuranca previously in effect�from aa elternate .
<br />_ . . mortgage inaurer approved by I.ender. If substantially equivalent mortpge insutance coveraga ia not avaitable, _.
<br /> � ' Bosrower shal]pay to Lender each month a sum eq�1 to one-twelfth ot the yearly mortgage insurance premium bein�
<br /> _;•�.�. paid by Borrower when the insurance coverage lapsed ar ceased to be in effect.Lender will acceps,use and retein these � �
<br /> " payments as a losg resetve in lieu of mortgage inaurence. 1,oss reserva payments may no loager be tequired, .
<br /> �� - � � � '' . _
<br /> ; �� form 8028 9/90
<br /> ' �������=}o� o.a•a o�e initiatx ,
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