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<br /> _. • 5.Hsatasd or Properiy lasuranc�Bortower s}�ali keep the impravements now existing or hereatter erected on ';�.,,�,.,. .
<br /> • . ,.'` . the pruperty insured a�inst tos�by�ire.hazards iacluded within the tes�n"esteaded coverage"aad a�y other ba7ards. ` Y-_-.
<br /> ' :�v:�.:.a F'-:
<br /> '�;.�.`.�;� �inclwding flaads or flaod'ang,tor a�Lich Lender re9unres iasuraaoe.This insurancs stiall be maintained in the amoumts .�
<br /> ..• � �.>Y aad for.the periads t�at L.�nd�r tequir�.The insu:anoe carrier groviding the iasuraace shall be chosen by Borrowec � :.
<br /> . � subyect to Leade�s approsal crhich shall ciat be unreasoaably withheId.If Barrower fa�s to aaaintain coverage descrit,ed � , . ..W��.
<br /> .�; above,Leader may,at Lendes's option,obiaia coverage Lo Pmtect L�nder"s rights in t1te PmPertY ia accordaa��vith �
<br /> --- P�Ph 7. � — -
<br /> All insurance policies and rene��vals shall be accepiable w I.ender and s8stt inctude a staadard�artg,�ge clafsse.
<br /> � ` Lender shall have the ri t to hold the licies and reuewata If Leuder requires. Bomo�rer shall promPUY gi�t° � 1 .
<br /> . �. :`� " ' Lender all receipss oF paidg premiums and r�enewal notices.In the event of Iass.Boscower sha1D give prompt notice to the � __
<br /> � ;����� ' is�smance c�rrrier ascd I�der.Leader may�raake praof of loss it not made proraptly by Borro�ser. ° ` .. �7 ., ._
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<br /> � Ualess�ender and Hmrower otherwise agree in writing,insurance praceeds shalt be applied to restoratioa or regair N :� '
<br /> 04 tt�e FropercgdasnaSed.ii the restoration or repais is ecoaomically feas►'ble aad Lender's securitY is aot tessened.If the � �', s
<br /> v �`'���� restozation or repair is not e�oaomicallY feasi'b2e oi Leader's security wovtd be lessened.the insurance proceeds stiall be ,� ;.. ,
<br /> a ! 'd to Borrower.If
<br />' ` applied w ttie sums se�red by tbis Security Instrumea�whethet or not tlten due.with aay esces�a pai - . .
<br /> � , � Bonnwer abaadoas the Pso�rty.or does not answer wit�in 30 daps a notice from I.eader that the iasurance carrier t�as ,'.'� s
<br /> `�'� t�. � -- -
<br /> • � - offered to settie a ctaim>then I.ender may coltect the insurance proceeds.L.eadet may use the praoeeds to repair� - .
<br /> � r�store thePrapestp or tm pap aumssecured bp ttusSecurifi Inswmen�whetheror notthen due.The 30-day peri :i=""`. '
<br /> ,. :�� begin when tlne notice is given. �` � ` `.�
<br /> �e shall not estend ar
<br /> " ,`�,.` � Ualess Lender and Honower other�vise agree in writing,�Y BPPlication of proceeds ta priacipal . ,
<br /> _ .,..,, � ,
<br /> � postpone the duedateo#�he moatt�Y PaYmeats referr�to ir►gara�s?hs 1 and 2ar change theamourtof thepayments.� ' � :r. .. -
<br /> `� �,. -• �` If uader paraSraPh 21 the FropertY is acquired by Lencter. Bomowe�'s si�ht to aay insorance policies and pm�s.. _ _
<br /> �. �� �., ,. ,.,
<br /> - -. .. __ `` re.siilting fmm damage 4o the Pcoperty prior to the acgvisition ahsll gass to Lendet to the esieat of the sums seciued bq ���:,: _---
<br /> I,_''-.�:,.`� "N�'� tbisSecuritYInstrus�nentimmediatelp priorwtheacquisitior�. __ -
<br /> (.pccupancy,Preservati�.lVYaintenance sud Protectioa o i t h e P r op e rtY:Bonow e�s L o a n A p p l i c a R�o a; -�--
<br /> . I.easehoids.Borro�ver sball occupY,establish.and use the Praperty as Borrower's pnncipal residence withi�eiaty da3�s . _...
<br /> ' after the esecutioa oi tbis Security Inatrumeat and shall cantinue w accupy the Praperc9.as Borrowet's grincipal ., __�...
<br /> '��:�. . residence far at least mne year after the date of ac�cupaneY,unless Lender otherarise agees ia wntiug.which con�at sbell �..��,_,-----
<br /> � not be unreasoaablq cvithheld.or untesa eateuuating circumstances esist whi�h are beYbad Borrower's conttol.Borrower r
<br /> � ' •�'�• shall not de.stcop.damage or imgafs the Property,allow the Property to deteriorate.or cain�sit wasse on the PropertY �;.:_---
<br />- .. .. �`�;`_`,. ' Botruwer shall be in deFault if�^�farfeiture action or proceEding,whether civil or criminal,is begun that in Leader's _._
<br /> � --
<br /> � gaod faith judgment could resr:i�sa forfeit�ue af the Property or otherwise materiaUy impais tLe lien created by this _
<br /> . � .eincf�rt �g
<br /> �.: �. = Securitq Iastrtjment or Laccler's sEC�iritY i���Borrower map cure such a default aad , p��i��
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<br /> � •��' P�&'8Ph 1�. bq causing the action or g�ding w bQ dismissed with a ruling that, in b�.der's gaod faith �,,� ��
<br /> ' •,�` determination.precludes forfeiture of the Bortv��ver's interest ia the Property or other material im�nent of tb�lien► :� -
<br /> ��.,:' �.� . . .�;' 'crated by this Security Instrnmeat or Lende�s seavrity interes�Barcower shall also be ia default i£Borrower,�.'USing __ --
<br /> .. � . « the loaa application process. gave materially false or inaccurate infinrmation or statements w I,ender Ior fa'��ta _ .
<br /> -_i .` -- ' � provide Lender svit�atiy material informatiofl)ia canaection with the loan evideaced bp the Note.including,but nat � . •'�� , __�_
<br /> h' ' ' '�< limi t e d w,r e p resea;ations concernin g Barrower's occupancy of the Property as a principal residenc�If this Sec,�trity < . .�,��..
<br /> >t, , Instrument is on a Ieasehold,Borrower shall comply with all the provisions of the lease.If BorraHer ar,quirea fee tit ta to ; , __
<br /> �'� ' � ��(�`�' thc Propercy.the leasehold and the fee title shall not merge unlesa Lender agrees to the merger iu writing. ,_ •_�=
<br /> t:;:;`,.,;�.,..:. .
<br /> � �. � .� � ?.Protectiom of Lender's liigLtsia the Property.Ii Borrower fails w perform th�covenaats and agreements . _-._
<br /> �' ., ; .
<br /> �;, : . • t ' �; coAtained ia this Securitp Tnstrument,or there is a lega!praceeding that may si�cantip affect Leader's rights ia the . :; �
<br /> ' � ' ., property {such as a praceeding ia bankn�n..y. probate. tor condemAation or forfeiture or to enforce laws or - �
<br />= � � .�'�t: regulations),then Le�der maq do and pay Ear�atever is necesvary to protect the value of the Properiy attd Lende�s ;'_ ,�:' -----.
<br /> - � � ' :,:,�:� righta in tha Propert*. Leader's actions may i�clude paying any aume secured hy a lien which has priority oves'this : -•
<br /> . � •� } SecuritY Instr�ment.ePPearing in oourt,DaYiag reasoaable attoraeys�fee.v and entering on the Property to make tepairs. : .,
<br /> ' ' � • ' AIthough Leader may take action under this paragraph 7.IIrnder does noi have to do so. 1�-r
<br /> ,: ,_
<br /> . . Aay amounts disbuised by Lender under this paragraiEs 7 shall become additional debt of Borroarer secine�63r tbis � � _
<br /> ' � • Security Instrument Unless Bonower and Le-der agree io other terms oi papment,thesa smoun'ts shall bear iaterest ::�: �
<br /> � ' . fsom the date of disE��usement at the Note rate a3d ahall be payable,with intereat,upoA notica from Lender to Borrower .,,t.,,_,,:�
<br /> �+.�� . ' � .. , requesting PaYmen� � . . �
<br /> � S.Mortgag�lnsusance.If 1.eader re�vired mort�insurance as a condition of making the Ioan secured by this
<br /> •` �� � ' • Security Instrument,Bonower ehall pay the premiuma reqwred to maintain the mortgage insurance in e4fect.If,�or anq �--- �
<br /> � . � ' � reason,the mortgaga insurance coveraga requa:$d by Leader lapses or ceaEea tu be in e4fect,BorroNer sts�ll pay the •-!-{--.--
<br /> � � premiuma reqvised to obtain coverage substantially equivalent to the martpage insuraACe previo�]y in effect,at a wsc , ,.
<br /> ' '." . substaatially equivalent to the cost to Bonower oi the mortgage insuraace previouslq irf eitect, from an alternats
<br /> � � mottgage ins�srer apProved by Leadet. Ii substantially equivalent mortgage insurance coverage ia aot available, . .
<br /> � : �•- Borrower shall pay to Lender each month a sum equal to one-tarelfth of the yearly mortgage insuranca premiurn being � . ..
<br /> . ' � paid by Borrower�shsn the insurance coverage lapsed or ceased to be in etfect.Lender will accept�use aztd tetain these � �
<br /> ' � � � payments as a te..� reserve in lieu oi mortgage �nsurenca. Loss �serve payments may no longer be required,
<br /> ' � Fmm $O30 9/90 .
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