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<br /> „ �� �� 5, al�zurtE ar Prn�crty Insurr.ncc� Borro�vcr shall kecp thc improvcmcrns now cxisting or hercafter erected an the �L ':�: _'�,����;',:"-
<br /> ' Property intiurcd iiguinst luss by tirc, haznrds includcd �vithin thc tcrm "cxtendcai cnvcraac" and any othcr Na.��rds, including �:4,.�" = -
<br /> f7��uds or tluuding, fc�r w-hich I.endcr rcquires insurancc. This insurnncc shall hc niiintnincd in thc mnounts nnd for thc periods � "` t'�:;;.
<br /> � ' that l.ender rcqui�cs. Thc insurnncc carricr proviJing thc insuri►nce slmll l�c chutitn by F3orrawcr subjcct tc� [.ender's approval =-`�'�`'�"`�T-'
<br /> � —___
<br /> which shull nat nc unrcasoiiabl withheld, If Borrowcr fails tn n►aintai�t caveru�c described above, I.,endcr may, at Lcndcr's ' `��
<br /> Y �, . , - _..,.,�f -
<br /> option,obt.iin cciverage to protect Lender's rights in the Propeity in uccordunce w9th p�ragrapli 7. '°"�'x'""""�"
<br /> � All intiurance policics und rencwnls shall bc acceptable to I.cndcr und chal I inc7ude a standurd mnrtgngc clAUSC. I.,ender �-._-=________
<br /> shall have tl�e right to hald�lic polici�s and renewnls.If Lender requires,Barrowershall prompUy�ive to[.ender all reccipts of 1:����-�-�--__. _
<br /> �7i�:.r:,�r�..��_ .
<br /> paid premiums and rencwnl notices. In the evcnt of loss,Bonowcr tihull give prornpt noticc ta the insurnnce carrier and l.cnder. --�n_—����
<br /> ' ' Lender may mnke proaf of loss if not mude pmmptly by Borrower. ��;:�-=__=
<br /> " Unless Lender and Borrower othcrwise a�ree in writing, insurance procceds shall be applied t�restoration or repair of the ���T1L`°'=�W�Y
<br /> ��.- '��.,:.,uo.-
<br /> � � Propeny damaged, if the restoration or repair is economically feusiblc and Lcndcr's security is not Iesscned.If thc restoration or �^^,°�"';�;, -- -_
<br /> �.�:r=====
<br /> , repair is not economically fcasiblc or I.ender's sccurity would bc lessened. �he insurancc praccc.�ls shall bc applied to the sums _--- ___—____
<br /> • securcd by this Sccurity Instrument, whether or not then due. �vith uny excess p�id to Borrower. If Borrower abandons the �;t�______ _:.—
<br /> Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle n cltum, then �•;-��---�^w
<br /> • Lender may coilcct thc insurance proceccis. Lcnder may usc thc proceecis to repair ar restore the Property or to pay sums �'�,��r���4��
<br /> secured by this Security Instrument,whether or not thcn due.The 30-day period will begin when the notice is given. �,�____-
<br /> �. Unless Lender and Borro�vQr ott►envise agree in writing, nny application nf Prneeeds to principal sl�all not extend or _- _ - __
<br /> postpone the due date of the monthly paymcnts referred to in parugraphs I and 2 ar change the amount of the payments. If ���,;�;_
<br /> � � under paragraph 21 the Property is acquired by Lender, Boirower's right to any insurance palicies and proceeds resulting fmm �*__
<br /> damagc to the Property prior to the ucquisition shall pass to L,cndcr to thc extent of the sums securcd by this Security Instrumcnt .,s,�:���>>-,�
<br /> � . ' immediately prior to the acquisition. �'u . _ u�_
<br /> � 6.Occu anc ,E'reservatinn,MAintennr�ce and Protection of the Pro ert ,Barrower's Loan A lication; Leaseholds. �"'•'��"���-_
<br /> P Y p Y' PP ��r;..�,----
<br /> " • Borcoaer shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execution of '�,,'u_
<br /> . this Securiry Instrument and shall continue to occupy the Propeny as Borrowcr's principal residence for nt Ieast one year after > ,,,_._.
<br /> the date of occupancy,unless L.ender otherwise agrces in writing, which consent shal I not be unreasonably withheld, or unless � �"�
<br /> ' extenuatin� circumstanccs exist which are bcyond Borrowcr'c control. Horrowcr shall not destroy, damage or impair the ' ��v =.
<br /> ..,� •
<br /> } Property, allow the Property to deteriorate, or commit waste on thc Property. Borrowcr shall bc in dcfault if any farfeiture �.,t:; ,
<br />-- _— —.—— n�rinn nr Frnr�r�ii�o.wh�rhrr rivil nr oriminal. ic henun that in I,ender't etx�d f:tith iudemcnt could result in forfeiturc of the _ �~
<br /> � Propeny or othenvise materiuUy impair the lien created by this Security Instrumenl or I..ender's securiry interest. Banower muy ''"� "'
<br /> � cu�e such a dcfault and reinstate, as provided in paragraph 18, by r.ausing the actionor proceeding to be dismissed with a ruling �
<br /> � that, in Lendcr's good t'aith dctermination, prechldes forfciturc of thc Borrower's intcrest in the Property or other material
<br /> ' impairment of the lien crcated by this Security ]nstrument or Lender's security interest. Aorrower shall also be in default if � ,
<br /> Borrower, during the loan application process,gave marerially false or inacwrate in(ormation or statements to Lender(or failed •
<br /> to provide Lender with any material information)in connection with the loan evidenced by the Note, including, but not limited '� � ,
<br /> to,representutions concerning Bonower's occupancy of the Propeny as a principal residence.If this Security Instrument is on a ' • - �
<br /> leasehald, Bonower shall comply with aU the provisions of the lease. [f Borrower acyuires fec tide to the Property, the '
<br /> Ieasehold und the fee title shall not mergc unless L.endcr agrecs to the mcrger in w ri�in�. �' r'-;rt
<br /> 7.Protection of Lender's Rights in the Property.If Borrrnver fails to perfomi ehc covenants and agreements contained in . �•?
<br /> this Securiry Instrument, or there is a Iegal pro�eeding that may signitic�nily affect L.ender's rights in the Property (such ns a ,� ' �� �;_-•-
<br /> � '" procceding in bankruptcy,probate, for wndcmnation or forfciturc or to enforce la�vti or regulations), then i..ender may do and •� "�
<br /> ' pay for whatever is ncc:essary to protect the value of thc Property and Lendcr's rights in the Pro�erty. Lcnder's actions may ' .;�' . •
<br /> include paying any sums secured by u lien which has priority over this Securiry lnstrument, appea�ing in court, paying � � `�;
<br /> reasonablc attorneys' fees and entering on the Property ro makc rcpairs. A Ithough Lcndcr may take action undcr this paragraph �r
<br /> 7,Lendcr docs not huvc to do so. �
<br /> � Any ;tmottnts disburseci hy Lendcr under this paragraph 7 shall becume additional dcbt af Borrower secured by this ' .i�
<br /> Sccurity Instrument. Unless Borrowcr and [.�:ndcr agrec to other tcrnn uf paymc:m, these amounts shall bear intcrest from thc �I;
<br /> r datc of disbursement at the Note ratc and shall be payablc, with interest, upon noticc from Lcndcr to Bottowcr rcyucsting i `R, ��
<br /> payment. � �
<br /> S.Mort�a�e Insurunee.If Lender required mo��tgage insurance ati a ronditionaf making the loan secured by this Securiry I
<br /> Iustrument, Borrower shall pay the premiums reyuircd to maintsin the monga�*,c insurunce in cffect. If, for any reason, the i �
<br /> mortgage insurance coverage reyuirui by L.ender I.ipses i�r ceases to be in effcct. Borrower shall pay the premiums rcquirul to I -
<br /> , obtain coverrge subswntially equivalent to thc mortgage insurance previously in effcct,at a cost tiubstantially cyuivnlcnt to the �
<br /> cost tn Bo�rower uf the mortgage insurance prcviously in effect, from an alternaie mortgage insurer approved by Lcnder. If t
<br /> E ' substantially equivalent mortgage insurancc covcragc is not availablc. Borrcnvcr tihall p:ry tu Lender wch nwnth a tium cyuad to
<br /> one-tweltth of the y�:arly mortgage insurance premium being paid by Burrrnver when the insurance cuverage lapsed ur reased to �
<br /> . • be in effect.i.ender will accept, use and retain these payments as a lass reserve in lieu of mortgage insurance. Loss reserve , ,
<br /> ' Form 3028 9/90
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