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<br /> � • -��;, the improvtments now existing or hereafter e�cced on the , y
<br /> c -� 5. Harard us Pto� Insureace. Botsower shall keep
<br />_�'-,a•`� ,:._� .` L.�`: ProPercY �nsured a8ainst toss by ftrr, hazards included�vithm the term "euended coverage" and any other hazards. includ.ing `.�`,`T �:�`�,•;
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<br /> `� <"':...�:.� ttoods or ftoodina.for which Leader requins insurance. 'tl�is in5urance sha}!be maintained in the amonnu and for the peciads ,
<br /> :�:�u ���= that Lender requires. 'Elze insutance carrier pro�iding the.insera�ue shall be chosen by Bocrov►er subject to Leuder's approval <<� � � `� :� .
<br /> � �rrhich sha11 no[be unreasouably withheld. tf Borrowcr fails co maintann coverage described above. Lender may. at I.eader's �. � ;;�•..
<br /> ``f . � P m accordance with h 7. � �- , �
<br /> . o{xevn.obtaio cove e tn rotect Le�dei s righ�s in the Propeety� P��P
<br /> ` ''F . . '_` ' "`;� pll insurance po:icies and renewals shall be acceptabte to Lender and shall include a standard mor[gage ctause. Lender � ° �z, .;
<br /> -.. . � `.:,.;�,ti _.
<br /> - :� � :� �-�. • sbaf;have the righi co hotd the poticies and renewats.[f l.ender requires.Borrawer sAai!prompt t y give eo Lender a11 reoeipts of • ;°�.i k a�L: c.;•<
<br /> _ � -� `- --!-----�-�� ' �d pnestiums srd ranet�nnti.�c. In the eveni of loss.Boirower sh31!give prompt qoti�'e to the insuran�carriet and Leuder. �, , , �.- .�
<br /> ` Lender may make proof of toss if not mrade promptty by Sorrower. � ` <
<br /> '' ' ' '---'�'�� t7ntess Leader and Borrower•othenvise agcee in writing, insuzance pruceeds s6a11 be appl4ed co restoratiun or repair af the � --�- .' -
<br /> f"� �•"'�_�iif`S9'nTt.•.... ` ",
<br />._=:t;: .°-..`,f_ .' c° .:_, p��y damaged,if the reswraiinn or re;mir is ecaaomi c a lly feasi b t e a n d I.e a c l e r s s e c u r i t y i s n o t t e s s e n e d.ff t h e r e s t o r a t ion or � C G .„GN;4.,.
<br /> h._•,�.:. .:a would be le�ened,the�n �raRCe pcoceecls shall be applied to the sums � �. ` .
<br /> �-•-r�-.- •�t`�_`�=--- rep�air is not ernm�mically feasibh or t.endtr's�itY �;
<br /> �.; . ,�,. '�~c � ��
<br /> secured by Nis Security Insuumeae, whether or not then due,watt�auy excess paid w Borrower. if Borrower abandons the � y:
<br /> , � Pro o:does aot answer witivn 3�days a notice from Lender that the in���.�nce canier has offered co seute a ctaim. tlun ` ` .. _
<br /> �, •_. .\. 'tiY1•:�... �(�• C�fl.,_:
<br /> ;..1!• l.ender may coitect the insurance procesds. l.eader may use �he pmoeeds w repair or reston the Property or to pay sua�s . d ti,� �_
<br /> will n wfiert the aotice is given. ,� _.,,,,, _,
<br /> � - _ -�- �ecurecl by d�is Security Inswmem..whether or not tben due.The 34day periad bega .,
<br /> Y ...."5't.�.�••�.l Untess Leades anc! B�rrower othe�wise agree in writing, anY application of proceeds to principal sfiall not extead or __-F._,_�:h3',,_;_
<br /> � ' mec►ts referred to in 1 and 2 or change the amoent of the payme n t s.ff . � .
<br /> Posipone the due date o€the monthlY PaY p��� Izcies and roeeeds cesuiting from
<br /> ' , under pa[ag[ap&21 the Property is acquired by Lender. $orcower's rigttt to any insurance po' P �' i�_
<br /> � `'� � _ -t :a�tc�e •�sits�n�hall paAC to Leader to the extent of the sums seciued by tttis Secunty Insvemeni `4 s�
<br /> — -, ci�rtzt�w d�e g►u�c��� � -
<br /> � � -, '� immediatglY Prior to the a�cquisition. 4 ' -
<br /> � � ,_: 6.Oav�ancys�t'1'�BtIODs M�IItEDHIIC4 Slld�Ot¢CItOD OY t�I�iO(JCPI};Bocrower's l.aaa Appllcatton;t.essehalds. .� ;
<br /> z:�� b' �• Borrower shall omtpy.establish.and use the Property as Borrower's prinripa!residence withi�sixty days after t6e execution of : s ; . _
<br /> , �`� ' '• this Securicy Iflstrtunent and sl�al}coaLinue to oocupy the Praperry as Botrower's principal residence for at least one year aRer
<br /> ,t. :: ", ... �..
<br /> , 4 'J the date of occupancy.unless t.ender otLerwise agrees in writing. �vhich rnasent shali wt be unreasonably withhetd.ov u�tess �• _
<br /> . Fr `
<br />. F, �r• .. •i.> exteQUating circumstances e�cist whicit are beyond Borrower's contraL Borrower shall not desoroy. damage or unpair the ,`.
<br /> - '°` �F�Y• altow the Eropecey w deteciotatc.or co�t waste on the Property. Bonower shall be in default i€auy forfeiture . � ','•�^
<br /> � .u�
<br /> '� '� acEion or proceeding.whether civit or criminal,is begun that in 1..ead�r's good faith judgment coeld resuJt in forfeitute of the
<br /> � Ptvperty or oNecwise materialiy imPair the liea created by this Secutity Insuwnenc ur Lender's secucity interese.Borrower may � f ��„��
<br />,-,�--`�`: .�' :_' ";==� ca�stn the astion or rocceding tv be dismissed with a ruling - f
<br /> • +� ';� cure such a defae�l[and reinstate.as provided in paragraPa 28.by g P • ,;�__:
<br /> - that, its i,.ender's gaod faitfl determit►ation. Pieciudes forfeiture of the Borrower's interest in the PropertY or other wateri$L :�
<br /> � ,.:.�t ' impairment of 4he lien created 6}r this Secur�ty [nsm�ment or Lendei s security �nrerest. Borrower shall also be in default if � ,
<br /> . '�.. � � . " Borrower.during che loatt appiication process,gave rnaterialty faise or inaccurate information or statements to Lender(or faited '` .'�_
<br /> �•,,,.
<br /> :'.��;� .: „� . � -'���<: to provide 4eader with any material information)in conuecuon with the loan evideac�by the Note,including,but not limited � :'�. ..:a:��.
<br /> '� - � - t,o,representacions concerning$orrovirei s occupancy of the Property as a princ'rpal residence.If this Security inswment is ou a . �. ..:-
<br /> :<,., - �
<br /> �' . teasehold, Burrower shalt comply wlth a11 the provisions of the l�ase. If Eorrower e�quim� fe� G�e �O�� �0p�3`. �e
<br /> `'�`'°." • � . � , teasehotd and the fee tide shal!not merge uniesg l.ender aSrees w che merger in writing. }{ ;.l�
<br />_`��` :' . ..��.?,. 7.P�vtection of I.cnder's Rigbts in the R'o8erty.tf Borrowec fails co perform the covenants and agreemeats contained�n '�.ti'. ,�_. .:.:
<br /> •^� -�'�. � .r'': this Secvrity Instrumeat, or there is a legal proceeding tha[ may si�nif candy affect Lender's rights in the Property(suCh as a ;
<br /> r:,;;;,, , . �: .' i.. :
<br /> .�,y.:. � '�� �.,. ;.� . ,.�n,, proceeding in bankruptcy,probate, for condemnatioa or forfeiture or to enforce laus or re�ulations),titen Lender may do and
<br /> �, : . . pay for whatever is necessary to protect the value of the Property and Lender's ri�hts in the Property. Lender's a�tions may
<br /> `�:., '.:. ' � include paying any sums secured by a lien which has priflrity over this Stxurity Instreraen� appear+ng in court, FaY�n� .. � .;°
<br /> _%� ..� • , reasonable attomeys fees and en0ering an the Property to make repairs.Althoagl'►L.ender may rake action.under ttus paragreph
<br /> .. .. ;'.�:•: . � ;
<br /> s t � � �• 7.Lender does not have to do so. '
<br /> _. . ,...,..
<br /> Any a�nounts di�bursc� by Lender under this paragraph 7 shall become additional debt of Borrower secured by this -
<br /> � ,• � . Security Instrumeat. UnLess Borrower and Lender agrec to other terma of payment, these amounts shall bear incerest from the . �
<br /> ` .� � • � � date of disbursement at the Notc race and sball be payable. with interest, upon notice from L.ender to Borrower requestin�
<br /> ��°., ';., '.� , payment. ,.
<br /> '� � � g,Mottgage insurance.If fxnder required mortgage insurance as a condidon of making the laan secured by this Security
<br /> �'Y'��;•�' • , ` instrume��c. Borrower shall pay the premiums required eo maintain the mortgage insurance in effect. !f, for any reason.the ;: ;�• �.'
<br /> .�=-`� . .� ' :, , '�... � mortga�e insurance covecage requirec!by Lender lapses or cea.se�to be in etfeet. Bocrower sba11 pay the premiums required to _
<br /> �:�;.:;;.:. obtain covera�e substantial4y eyuivalene to the mortgage insurance previ4usly in effect,at a wst substantially equivalent to the "�z �, :;�.�
<br /> � ��' cast to Bocrower of the mortgage iasursince previously in effocl, from an alternate mortgage insurer approved by I.ender. If ;
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<br /> � • �. • �ubstanti:�ly ec{uivalent mort�age insurance coverage is not avuelable. Borrower shall pay to Lender each month a sum equal to .
<br /> .`�'{ " . une-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage Iapsecl or cea.sed to ,
<br /> ;.,.. � ' be in effet;t. 4ender wiU accept.use and retain these psymenty as a Ioss re�erve in lieu uf mort�ge insurance. Luss re+erve
<br /> �,�; : . . . - Fam 3028 9/90 �
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