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<br /> � 5. Har.�rd ar !'roperty Insurunce. Borrnwcr shull kcep thc impruvctncnts nuw cYi�ting on c�rcuftcr crcrtcd un Uic ��`�,
<br /> Property insurcd uguinst losti by firc,hsizurdti includcd within thc tcnn "cxtcnded ccivcrngc" uttd uny othcr huiurdti, inrluding `;µ��:;;:
<br /> floafs ur flocxling. f��r which Lcndcr rcyuires insunincc. This insuruncc shull hc muintnincd in Uic nnuiunts+uid tiir thc peri�xls �__„_.,
<br /> that I.�ndrr require�. Thc intiurancc carricr pr.�viding�hc insur,mre shnll he ch�,ticn hy Harrawcr+uhjcrt to Lender's upprnvul --
<br /> ,��.,',�d�; which �hall not bc unrcusonably �vithhcld. If Borrawcr fuils tu muintuin cu�•cri+gc dc,rrib�d ahu��c. Lcndrr mtq•, :n I.cndcr'ti �-:�_'�_:
<br /> .. � optian.obtuin coverage to pratect L.ender'�rights in the Propeny in aca�rdunce with puragruph 7. � �_-
<br /> AI! insurance policics und renewuls shull be ucceptuble ro Lsnder and shull inrludc u titi►ndard murtbage cluuse. l.ender _
<br /> '�� shall hnve the right to hnld the policics Wnd rencwalti. 1(Lender reyuires, Bormwcr,hall pramptly�;ivc tu LAnder all rc�cipts oi `
<br /> - puid premiums and renewul noticcs. In the event of loss, Borrowcr shall givc prompt noucc to thc insuranec curricr:uid l.cndcr. �
<br /> L.endcr may mukc proof of loss if not madc promptly by Barrowcr. � !
<br /> " Unless Lcnder and Borrower otherwise agrce in writing, insurance procccJs shnll bc npplicd�u restorution��r rcp�iir of the __
<br /> � Property dumaged,if the restoration or repair is economically feasible and Lender's security is not lessened. If the rextorudun or Q
<br /> . repnir is not economicully feasible or I.ender', security would be lessened, the insurunce proceeds shall be upplial t�� tt►e sums � �
<br /> securcd by this Securiry Instrument,whether or not then due, with uny excess paid to Borrower. If Borrowcr ubundons the —_
<br /> :���, Property. or docs not answer within 30 days u notice from Le:nder that the insurance carrier has offered to cetNe a cluim, then � � .
<br />�''' ;� L.ender may collect the insurance procceds. Irender may use [he proceeds co repair or restore the Property or to puy sums —
<br />" secured by tliis Security Instrument.�ti�hether or nnt tl�en due.The 30-day period will b�gin when the natice is given. __
<br />-.;�,. Unless L,ender and Borrower othenvisc agree in writing, uny upplicntion of proceeds to principal shall not ext�nJ or �..
<br /> ' • postponc the due date of thc monthly payments rcfened to in puragraphs 1 und 2 or change thc amount of the puyments. If =
<br /> under paragraph 21 the Property is ncquired by I.ender, Borrower's right to uny insurance policics and proceeds resulting from �.,-
<br /> ' • damage to the Property prior to the acquisitian shall pass to Lender to the extent of the sums secured by this Securiry In�:trument �;,
<br /> • immediately prior to the acquisition. Borrower's Loun A licution;Leuseholds. e-
<br /> 6. Occupancy, Preservution, Mnintenance and Protection of the Property; NP
<br /> '� Borrower shall occupy,establish,and use the Property us Horrower's principal resiJence within sixty duys after the execution of —
<br /> this Security Instrument and shall continue to occupy the Property as Borrower's principul residence for at Ieast one year aRer
<br /> the dnte of occupuncy,unless L.ender otherwise agrees in writing, which consent shall not be unreasonubly withheld, or unless �
<br /> �� , extenuating circumstances exist which are beyand Borrawer's control. Borrower shall not destroy, damage or impuir the
<br />. —= Frop�rty, a!]au• the Pro�e.^.; t^dem�i�ra�e. ar commit waste on thc Property. Borrower shall be in dcfault if any forfciture
<br />_ action or proceeding, whether civil or criminal,is begun that in Lender's good Caith�udgmetiu couid resuii iu i'u�tcitur���ihc
<br /> Property or otherwise mnterially impair the lien created by this Security Instrument or Lender's security interest. Borrower may
<br />�' cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed with a ruling
<br />_ that, in Lender's good faith determinution, prccludc forfciture of the Borrower's interest in thc Property or other material
<br />- impairment of the lien created by this Security Instrument or Lendcr's scwrity interest. Borrower shnll ulso be in default if
<br />—�� Borrower,during the loan application process,gave materially false or inaccurate information or statements to Lender(or failed
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<br /> w to provide Lender with any material information)in connection with the loan evidenced by the Note,including,but not limited
<br />- � . to,representations concerning Borrower's occupancy of the Property as a principal residence. If this Securiry Instrument is on n
<br /> . �� . � leasehold, Borrower shall comply �vith all the provisions of thc lease. If Borrower acquires fce title ro thc Property, the
<br /> • •'•� Icasehold and the fee title shaU not merge unlcss Lender ugrees to the merger in writing. _
<br /> 4�i��.••.:.,,;,�.;p 7.Protection of Lender's Ri�hts in the Property. If Borrnwer f'sils to perform the covenants nnd agrcements contained in
<br />- "'�� this Security Instrument, or there is a legal proceeding thut may significantty affect Lender's rights in the Property (such as a
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<br />-rr..�;.,..�,,x.� proceeding in bankruptcy, probate, for condemnatian or forfeiture or to enforce laws or regulations), then l.ender may do an
<br />_,.��. '� '.� pny for whatever is necessnry to protect the value of the Property and Lender's rights in the Property. Lender's actions may
<br />- , include paying any sums secured by a lien which has priority over this Security Instrument. appc:icing in court, paying —
<br /> ' � rcasonnblc uttorneys'fces and entcring on thc Pmpeny to makc rcpairs. Although L.cndcr may take uction under this paragraph
<br />--`r �-^� 7,Lcnder does not have to do so.
<br />' ,'�� � � Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borruwer secured by this _
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<br /> -;�;:�'.�;„-.;;� Securiry Instrument. Unless Borrower und Lendcr agree to othcr tennx of puymcnt, thesc amounts shall bear interest frrnn t c
<br /> '°" ' "'�" '�" date of disbunement at the Notc rate and shall be payuble, with interest, upon notice from Lender to Borrower requesting
<br />_*"� .. payment.
<br /> • 8.Martgage Insurnnce.If L.ender requircd mortgage insurance as a condition of making thc loan secured by this Security _
<br /> Instrument. Borrowcr shall pay the prcmiums required to maintain thc mortgagc insuriincc in effcct. If, for any reason, thc g-_ �
<br /> mortgage insurance coveruge reyuircd by LenJer lupses or ceases to be in effect.Aorrower shall pay the premiwns required to - -_
<br />- obtain rovcrabc substuntially cyuivalent to thc mortgagc insurance previuusly in cFfcct, at a cnst substuntially cquivulcnt to the
<br /> � rost to Borrowcr of thc mortgage insurance prcvicrosly in effcct, from an altcrnatc mortgagc insurer upprovcd by l.ender. If _';�.7
<br /> " ' substantially equivalent mortgage insurunce coverage iti not available.Borrowcr shall puy to Lcndcr cach month a�um cyual ro :_
<br /> onc-twclfth of thc ycarly mortgagc insurancc prcmium bcing paid by Horrowcr when thc insurance covcragc lapscd or ccascd ro
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<br /> � be in cffert. Lcndcr will acccpt. ux und retuin thetic paym�nts as a losti rescrvc in licu of mortgage insuranrc. Luss rescrve _
<br /> Form 3028 9/90
<br />-- Pnpo 3 01 8 -
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