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<br /> nt;:;��,;;:.,��a;';;,4, • S. Hazud or Property Inauernca. Borrower ehali keep tha i�nprovementa now exlsting or horeattor arooted on -----
<br /> tho Ptoperty insured againet loss by tire,hozards�noludPA w�th�n tha term �extended covere�e"und sny other ha�arda, �_�zT_,:._-___
<br /> ''" �"^�.; ����`� includin�tlooda or paodin��for wh�ch Lendor requires inauranco. This ineurance shall ba r►�eJnt�ined jn the emo�rnte _ __
<br /> �T'�'tt:��
<br /> ;.�,;,�,��,..,�.�,�,� and �or the pertads that Lender requltes. The Insurence carrter providing the lnsurence ehall be ohosen by Horrower
<br /> � ...= .. subjeot to L.ander s approval wh�oh ehell not be unreaaonebly withhald.It Sonower tatla to maintnin coverage desartbed
<br /> � E�;'.��..:::•:.,}. above.Lendet may. et L.enda's option.obtein coveraga ta prouat Lendar's rights in the Proporty in accordence aith ---
<br /> ,�.:�..�,. . ..,�. ���ph 7. -. __.-- _ _
<br /> -- � �' �� •• A11 ineurence poliataa and renewais ahell ba accaptabla to I.endor and ahell includo a standard mongage aleusa. �
<br /> '��:;.ti• .; Lcnder ehall have the r�ght to hold the paHcies and renewels. It I.onder rrquires, Bonower ehail promptty give to �_ -
<br /> , �,.�i`�• � ., Lendoc ell receipte ofpaid premiums and renewal notices,In tha avent of loss,Borcower ehell ve rom t notirs to the
<br /> � P P w--_
<br /> � ir�aurnnce carrter end L e nder.L en der mey ma ke proo f o f ioss i i no t ma de promp t ly b y B o r ro w e r. :-�5��=
<br /> � . . '''�`
<br /> . Unless Lender and Borrowsr otherwise agree in ariting�inauranca ptoceed�ehal!be applied to restoratioa orrepsit ,�:�,
<br /> � �� oi tha Proparty damaged.if the restoration or repair ia economically teaslble and Lendar's seaurity ia not lessened.Ii tha ���- �:�:_,_
<br /> •. ' reatoratton or rapair Is not economlcelly feasIblo or I.endor's securlty would be lessaned,the insurance proceeda ehalt be ���-_.
<br /> � ;, " appt;ed to tho sums seaured by this 3ecurtty Instrument,whether or not then due. wIth any excess �d to Borrower. it �`�"��-- --- -
<br /> Pe � t�---__
<br /> •• Bonoarer abandons the Property,or does not answer within 30 days a nottca trom Lender that tha insurance carrier hes �•;-'c����� ________ _
<br /> �,..._,;-��.�=--
<br /> .. offared ta settle a claim.then Lender may collect the insutance pruceeds. I.ender may use tha proceeds w tepair or ,�.���i.�__
<br /> testora the Property or to pay sums secured by thie Secudty Inetrument.whether or not then due.Tha 3Q'day perIod w ill -.,�,_-_,
<br /> � ' ^ . begtn when the notice ia givan, , ...` �"-�-----�.,-.,
<br /> " Unless T.ender and Borrower otherwise agree in writing,any application of procee�a to prtnclpal ahell not extend or Y�°�_H�'��'�"'�'=
<br /> � postpoae the due dats of the monthly payments referred to in paragcaphe 1 and 2 or changa the amount of the payments. '.'��-�-
<br /> � -. ;. It under �sragcaph 21 the Pronerty is acqutred by Lender, Bonower's right w any insutanca policies and proceeds ''" ' 4 :
<br /> . . -.--._..._... _ --- -- _ _
<br /> ��� - resut�ing rrom demega tu it�o Proy�rty Y,i�, w tt�a ecquisitlon shalt pa�to Lessder to the extent of the sums secured by --:-
<br /> - � this Seeurity Instrument imm e d iate l y pnor t o t he acqu isi t ton. _ _
<br /> � , 6. Occupancy. Y'reservatioa.Maintenance and Protectioa ot the Proparty; Borrawer's Loan Application; • ____
<br /> Leaseholda.Bonower shall occupy,establiah.and use the Property es Borrower's principal residence within sixty days � ,:��`=_
<br /> atter the execution of this Security Inatrument and shali continus to occupy the Property es Borcower's princi�el --
<br /> � � —
<br /> restdence ior at least one year after the date of occupancy,unless Lender otherwise asree,s in writing,whiah consent ahall . .::���=—
<br /> �� not be unreasonabty withheld,or unless extenuating circumstences exiat which are bayonci Bonower's control.Borrower • _=X
<br /> ahatl not destroy,damage or impair tha Property,allow the Property to deteriacate,or commit weate on the Property. ' . ;��;;_
<br /> Bonower shall ba in default if sny torteiture action or proceeding, whether civil or criminal,is begun that in Lender's •;� _
<br /> good faith judgment could result in torteiture of the Property or otherwise materiaUy impair the lien created by this �"�_ --
<br /> ' � " Security Inatrument or Lender's security interest. Borrower may cure such a detault and reinstate, es provided in ,:' ,.��
<br />- .. _:__-:-- >-_-- =.-� para�rapb !$, by c���aing the action or proceeding to be dismissed with a ruling that, in Lender's good taith ___ b °;�4��
<br /> • . .. ... .
<br /> • determination,precludes forfeiture of the Borrower's interest in the Propecty or other materiel impaitment of the I�en .
<br /> created by thie Securiiy Inetrument or I.ender's security interest.HorroNer ehall also be in detault if Bonower, duri ng ��
<br /> the losn application process,gave materlally false or inaccurate intormation or atatements to Lender (or tailed to
<br /> � �
<br /> provide Lender with any materiel inYormation� in connecxion with the loan evidenced by the Note,including,but rzot , • �`�`.
<br /> limited to,represantations concerning Borrower's occupancy of the Property es a principal residence.It this Security �t�.- , .
<br /> ' •... . �_n __ �. ...•.�...++thc proti't�tOtL:4�!tiP less?. If B!�tfnwP�arnnirPa fre title tn ��.
<br /> . Instrurnancisonaieasolwiu.riantuWC� euauw�iljnj ..lau..�. _._ _ _-�- .
<br /> the Property,the leasehold ard the fee title shall not merge unless Lender agrees to the m erger in writing. � " � z= ��
<br /> 7. Protectioa of Leader's Rights in the Property. If Borrower fails to perform the covenants and agreemes�ta ' �'��l��t
<br /> conteined in this Security Instrument,or there is a legal proceeding that may sign�ficantly affect Lender's rights in the
<br /> � Property (auch as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to eniorce laws or ��J ',
<br /> • � regulations),then Lendec may do and pay for whatever is necessary to protect the value oP the Pcoperty and I.ender's . ,P
<br /> � rights in the Property. I.ender's actions may include paying any sums secured by a lien�vhich has pnority over this �:��
<br /> : Security Inatrument,appearing in court,paying reasonable attarneys'fees and entering on the Praperty to make repairs, i ' :���•
<br /> � ' Although L�ender may take action under this paragraph 7,I..ender does not have to do so. •`,%';
<br /> Any amounts disbursed by I.ender under this paragreph 7 shall become additional debt of Borrower secured by this �. •%'� .
<br /> Security� Instrument.tTnless Borrower and Ixnder agre.e t��ther terms�f payment,these amounts ahall bear i nterest
<br /> � trom the date oi disbursement at the Note rate and shall be payable.with interest,upon notice trom I.ender to Borrower ( •
<br /> requesting payment. .
<br /> 8.Mortgage Insurence. If Lender required mortgage insurance as a condition ot rnaking the loan secured by this i,
<br /> Security Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect.Ii,for any •-
<br /> � reason,the moctgage insurance coverage required by I.ender lanses c�r ceas�to be in ettect, Barrower shall pay the .
<br /> premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in efiect,at a cost ; '
<br /> substantially equivalent to the cost to Borro�ver of the mortgage insurance pre��iously in effex:t, from an altemate
<br /> mortgage insurer approved �y Lender. If substantiall�• equivalent mortgage insurance coverage is not available, ,
<br /> Borrower shall pay to Lender each month a sum equal to one-tu�elfth of the yearly mortgage insurance premium being • .
<br /> paid by Borrower when the insurance coverage lapsed or ceased to be in�ffect.Lender will accept,use and retain these ,
<br /> � payments as a loss reserve in lieu �f mortgage insurance. I.oss reser��e pay�ments may no longer be required,
<br /> . Porm 30Y8 9/90
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