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<br /> . 5.HA�ard ar�'roperty InaurAnce. Borrowcr shall kecp thc improvcmcnts now exisung an c�rcuTCc�crcctcd on U�e Prapr.rty :•^L�M--='
<br /> ' insurcd ageinst loss by tirc, haiaeds includcd within thc tcrm "cxtcndcd covcregc" and any oUicr hnr.ords, including flaads ar �,:,,1_.,�;
<br /> Qooding,for which Lendcr rcquires lnsuranco.This insurancc shall bc maintnirtcd in thc amounGS nnd for thc periods thnt I.cndcr �
<br /> t requires.Thc insurancc carricr providing thc insura��cc shall bc choscn by Iiorrowcr subjcct to Lcndcr's approval which shall nat 4 L.��4i`.,
<br /> � bc unrcasonably withhcld. If Borrowcr [ails to maintain covcragc dcscribed abovc, I.cndcr may, at 1_cndcr's opuon, obtain -�u^�.._-"
<br /> •-^"^'""� coverage to protect LendePs rights in the Propeny in accordance wtth pazagraph 7. �,��`�� �
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<br /> """�`~''` All insurance policIcs and rencwals shnll bc acceptablc to Lcndcr and shall includc a siandard mortgagc cluusc.L.cndcr shall ��t�'Y�-
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<br /> havc thc rlght to hold thc pollcies and renewals.If Lcndcr requires,Borrowcr shall prompdy givc to L cn dcr a ll reccipts of paid 'T ",' �
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<br /> s premiums end renewal notice.g.In the event of loss,Borrower shall give prompt nadce to the Insurance carrier and L.ender. Lender •ti�r�=�=
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<br /> may make proof of loss if not madc promptly by Borrower. _M1"-�''""°°
<br /> ' " Unless Lendcr and Borrower othcrwise agrcc in wridng,€nsurance proceeds shall be applicd to restoration or repair of thc ,;s:r.Y-.
<br /> property dameged, if the restoraqan or repair is economicalty feasible and Lender's security is not lessened.If the reswradon or •�����;:r-
<br /> repair is not econamically feasible or Lender's security wauld be lessencd,the insurance proceeds shall bc applicd w the sums ���' ;_�
<br /> securcd by this 5e�:urity Inslrument, whcther or not tlien due, with any cxccss paid to Bonower. If Borxowcr abandons thc .s; ,
<br /> ' Property,or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a clsirn,then :J
<br /> � � I.ender may collect ihe insurance proceeds.L.ender may use tha proceetis to repair or restore the Property or to pay sums secure� �,
<br /> by this Securlty Instrument,whether or nat thcn dua 11te 30-day period will begin when thc nodcc is given. �-
<br /> � � Unless Lcnder and Borrower athcrwisc agrec in wridng,eny applIcation of proceeds to principal shall not cxtend or pos�ponc _��
<br /> the duc date of thc monthly payments refcrrcd to in paragraphs 1 and 2 or changc thc emount of thc payments.If under paragrnph
<br /> � 21 the Property is r,cquired by Lendcr, Bonowcr's dght to tu►y insurance policics end prceceds resulting from damage w thc
<br /> Property prior to the acquisition shall pass to Lendcr to the extent of the sums securcd by this Security Instrument immediately
<br /> prior to the acqulsition. �
<br /> '� 6.Occupancy.Preservetion,Maintenance and Protection of the Property; Borrower's Luan Application;Leaseholda.
<br /> Bonower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execuaon of
<br /> this Security Instrument and shall condnue to occupy the Property as Dorrower's principal residence for at Ieast one year after the
<br /> � date of occupancy, unless Lender otherwise agrecs in writinB, which cansent shaU not be unrcasonably withheld,or unless =
<br /> � extenuatinR circumstances exist which are beyond Borrower's control.Borrower shall not desbroy,ci�mamage or impair the Property, —
<br /> � ;. allow the Propeny co dcteriorate, or commit waste on the Property. Bonower shall t�e in defauIt if any fodciwra ac:iion or _
<br /> � proceetling,whether civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture af the Properry or
<br /> ��. otherwise materially impair the lien created by this Security Insaument or Lender's seceuity interesG Borrower may Gue such a
<br /> � default and reinstate, a5 provided in paragraph 18, by causing ihe acdon or proceeding co be dismissed with a ruling that, in ;
<br /> � Lcndcr's good faith dcterminadon,precludcs forfeiture of thc Borrower's interest in the Pcoperty ur other material impairmcnt of =
<br /> � the licn created by this Security Instrument or Lender's sccurity interesG Borrower shell also be in default if Borrower,during the - -
<br /> . � loan application process,gave matcrially falsc or inaccurate informabon or statements to Lcnder(or failed to provide Lender with —_
<br /> �: any material informadan) in connection with the loan evideuced by the Note, including, but not limited to, representations =-- ._
<br /> conceming 1Boaower's occupancy of the Property as a principal residence.If this Security Instrument is on a leasehold,Bonowcr _
<br /> shall cemply with all the provisions of the lcase.If Borrowcr acquires fcc dUc to the Property,the leaschold and the fce tidc shall �-�
<br /> . not mergc unlcss I.endcr agrees w the merger in writing. � ,
<br /> 7.Protection ot Lender's Rtghts In the Property. If Boaower faiJs w perform Ihe covenants and e�reements conGained in _
<br /> this Secwity Instrument,or thcre is a legal procceding that muy signiticandy affcct I,endcr's rights in the Propecty(such as a �
<br /> - � - � proceeciing in banr.ntptc;,prabate,for condemnauon�r forFeitnre nr m anforce laws or regnl�riona� then Lender may do and pay __--
<br /> � for whatever is necessary m protect the value of the Property and Lender's rights in the Propeny.Lender's actions may includc �'____
<br />- paying any sums secured by a llen which has prlority over this Securiry Instrument, appearing in court, paying rea�sonable ` �
<br /> auomeys' feec and entering on thc Property to make rcpairs. Although L.cndcr may takc acdon undcr this parngraph 7. Lender ���,:
<br /> " docs not havc w do so. �'
<br /> � � Any amounts disbursc:d by Lender under this paragraph 7 shall become addidonal debt of Borrower secured by this Saurity �
<br /> �• Insaument. Unlcss Borrowcr and Lcnder agrce to othcr terms of paymcnt, thcsc amounts s h a l l b e a r inoerest from Uie date o f �.,,
<br />� � � disbursemcnt at thc Note ratc and shall bc payublc,with intcrest,upon nodce from Lcndcr to Borrowcr rcquesung paymcnt. �`��`�-�.;;�;-_
<br /> S.Mortgage Insurance. If I.ender requ'ved mortgage insurance as a condition of making the loan secured by this Security� � �, `�;,
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<br /> Instrument, Borrower shall Pay the premiums required to maintnin the mortFaQe insurance in effect. If, far any reason, the �''••��:.:
<br /> mortgage insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums requued to . `".,�:��t
<br /> obtain coveragc substantially equivalcnt to the mongage insurancc prcviously in cffcct,at a cost substanUally equivalcnt to thc ���.��'�'����`
<br /> cost to Bonower of the mortgagc insurance previously in effect, from an altemate mortgage insurer approved by Lender. If �r. .`'_-. ;`
<br />- substanunlly ec�uivalent mongage insurance coverage is not available, Borrower shall pay to I.ender each month a sum equal to " ' _
<br /> onc-twclfth of Uie yearly mortgagc insurancc prcmium bcing paid by Sonowcr when thc ir.surancc covcragc lapsed or ceascd to '
<br /> -. be in effect. L.ender will accept, use and retain U�ese payments as a loss reserve in lieu of mongage insuranca L.oss reserve
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<br />- i Form3028 9/90
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<br />� � �•6f1(N�)(B2t2).Ot Pepe3ote initlalr.
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