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<br /> �' �� "�• � 5. Hazar�or Property i2surnace.Borrower shal! keep the irnprovements no�r existin� or hereafter erect� on We �'� ��— -
<br /> . 4�.�•`' =__-
<br /> -..._,,, . Property insuFed against locs by tir�.hazards irtcluded�vithin the ter�sz "extended coverage"and any other haFards.incIudsng ��_-_:
<br /> ' " . ." • flaods or floodiag, for which l.euder requires insurance.This insuiance shal!be maintained in the amounis and far the periods ----=-, _-
<br /> ' �t' that I.ender requir�.The insurance rarrier providing the insurance shall be chos�n by Barrower subject to'Lendes's approval �=x'=�-`-=--
<br /> .' �,�` ' � ' "`` whic8 shall not be urtreasnnably�vithheld. [f Borrower fails to maintain cove e describetl above. Lender may, at L.ender's � _�
<br /> tag �a��_-=__
<br /> - � - optioa.obrain coverage to pFOtect l.ender's rights in tfie Praperty in arsordance with paragraph 7. _ °--__—
<br /> � � . All in.curanc;e policies and renewals shal!be acceptabte to Lender and sfiaU include a standard martgage clause. Lender —_
<br /> ." ' . � � � � st�all have the right to hoid the policies and renewaLs.If Lender requires.Bnrrower s�all promptty give to Leuder all reeeipts of . =___
<br /> ,; ' � . paid premiums and renewal nodces.In the event of loss,Borrower st�all give prompt aotice to the insutance carrcer and 1.Ender: __
<br /> - �. ' � L.ender may make pmof of loss if not made promptly by Bortuwer.
<br /> � ; �°�� ` .Untess Lendez and Boirawer otherwise agree in writing,insuraace proceeds s6a11 be agplied to restoration os repair of tfle
<br /> •. •��- . � pmpercy damaged.if the restoration or repair is economicaliy feasible and Lender's secasity is not lessened.If the restoration ar
<br /> � . ' repair is not a:onomically fea5ible or I.ender s sxuriry would be lessened.the insurance proceeds stiail be appliued to the s�s
<br /> � ' � secured by this Security Instrument, whether or not then due, with any eqcess paid w Borrower. If Borrower abandons the - —
<br /> ' . <<,:. ' . .. Property.or daes not answer wit6in 3p days a notice from Lender that the insurance cazrier has offemfl to settte a claim,then —
<br /> �z. Leader may ooliect the insurance pmceeds. Lender may use the proceeds to repair or restore the Property or [o pay snms
<br /> �� , . . � ` secare. by this Se. �r.iy[nstrument,whed�er or not then due.'i'fie 30-day periad will begin when i�he nudae is given.,
<br /> Untess l.eader a�d Borrower otherwise agree ia writing.any apptication of pmceeQs to principa! shall not extend or
<br /> � •� : �� ' postpone the due date af the monthly payments referred to in paragraphs 1 and 2 or ci�ge the amount of the paymr,�s. If
<br /> _ ¢_y.. . �: under paragraph 2! the Property is acqtumd by I.ender.Borra�er's right w any insurance policies arid pmceeds resulting fsom _
<br /> � . •
<br /> ^_. _.. ,
<br /> °._. .. ..•—... . � . damageto the Froperty-prior-to3hsacquisition shall pa,ss to.Lendertathe.extent of.the�sumssecured.by ii�s SecuritY..--�uarer�t._._.---. .
<br /> • . � immediately priar to the acquisiuon.
<br /> " '' .' . � 6:Occapancy,Preservation,Maintenaitce and Proteation oP the Property;Borrower's I.oan Appifcation;Leaseliaids. ,
<br /> ,. • •• Borrower shall accupy,establish.and use the Praperty as Borrower's principal residence within si�cty days after the execution of __
<br /> ,. ���- , • this Security Inatnsm:nt and shall continue to accupy the Property as Borcower's principal residence for at least one year after
<br /> .. . ,
<br /> . . __..
<br /> • �• �- � �� the date of occupancy,untesc Lender othenvise agrees in writing,which consGnt sha]!noi be unrea�oitably�vithheui.'or unless
<br /> '' eatenuating circumstances exist which are beyond Borrower's conuol. Borrower shai! rot desuoy. damage er i�pair the �`"'-! �
<br /> . Property. allow the Pioperty to deteriorate, or cortunit waste on the Property. $orrower shall be in default'sf any forfeiture — -
<br /> ���; ,,,•�. . . , ,_ action or praceeding,whether civi!or criminal, is begun that in l.ender's good faith judgm'ent cauld resutt in fctrfeIture of the — =__—
<br /> � ' • .. Property or otherwise materially impair the lien created by this Security Instrument or Lenc�r.r's security interest.Borrawer may F__
<br /> 1 ' .. �,,`` � • cure such a default and reinstate.as provided in paragtaph 18,by causing the action or p.��ing to be dismissed�vith a naling .,'��
<br />- „ -::.':� • ' that, in Lender's good faith deterrnination, pretludes farfeiture of the Borrower's interMt in the Property ar ot�r material �
<br /> � '���`'"�� '. impairment of the tien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if
<br /> . .... Borrower.during the loan application process,gave materially false or iraccurate informatian or statements to Lender(or failed :;`
<br /> -�.`-_.
<br /> . , • .� to provide Lender with any material informauon)in connection with the loan evidenced by the Note, indading,but not limited ,;� _
<br /> . � . • : to,representations conceming Borrower's occupancy of the Property as a principal residence.If this Security�nstrument is on a _
<br /> • . teasehold. Borrower shatl wmply with all the provisions of the.lease. If Borrower asyuires fee title ta the Property. the �
<br />= • � ` leasehold and the fce title shall not merge unless I.ender a�rees to the merger in writing. ��' . ��
<br />- . .. � � ?.Paatectton of Lendei's Rig�ts in the Property.if Bonower fails ta perform the covenants and ugreements contained in — __„:
<br /> � ' � ' this Sect:n_�y Instrument.or there is a legal proceeding that may significantty affect Lender's rights in the Property(such as a }-
<br />- � . ` '� ' proceed=_*_g in bankruptcy.probate. for condemnation or forfe'.rare or to enforce laws e-rgulutians),then LeMer may do and '�"�
<br /> � ..,_,f r ��.:
<br /> � . . ' �;. • pay for whatever is necessary to�r�tect the value of the Prc*�erty and Lender's righta i�the Property. Lender's adions may �.x�h_
<br /> . • � ' � include paying any sums secured by a lien wfiich has priority over this Security Instrument, sppearing in court. paying .ri.;�. .;:•.�T.;-.
<br />_.�� ' reasonable attomeys'fees and entering on the Property to make repairs.Although I.ender may take action under ihis pasagraph
<br /> `' 7,Lender does'not have to do so. � '` ��=, �
<br /> ���_• • �� Any amounts disbursed by Lender under this paragraph 7 shall become additic.:.al debt of Bortower secured by'this .., �""�``y`'�=
<br />_;.t �� �� ` ' � Securiry lnstrument. Unless Borrower and Lender agree to other terms of payment,tf:�3mounts shall bear interest from the �' •�•� r �:=�,
<br /> `"�� • ' • date of disbursement at the Note rate and sha13 be payable, with interest, upon notice fmm l.ender to Bortower re.questing =
<br /> .-..a � . •'Y4. ..' -
<br /> —� � � � � payment. . �
<br /> n�t� �..� _ �. 8.119ort�age Insurance.If Lender required mortgage insurance as a co�dition of making the loan secnred by this 5ecurity -
<br /> `'� �' � � . Instrument. Bonower shatl pay the prcmiums required to m:i:�ta3n the mortgage insura.^.ce in effect. If. for any reason. the , '�_
<br /> , ��:���• • mortgage insurance coverage rec{uired by Lender lapses or c�es to be in effect.Borro���r shall pay the premiums required to •
<br /> � obtain coversrgc substantially equivalent to the mortgage insurpnce previausly in effect,a:a wst substantially equivalent to the � � .
<br /> ""� � ' cost to Borrower of the mortgage insurance previously'in effect. from an altemate mortgage insurer approved by Lender. If �
<br /> _.,a�� . . . .
<br /> �` � � substantially equiva'ent mortgage insurance coverage is not available.Borrower shall pay to Lender each month a sum equal to , . . ,..
<br /> '• ' one-n;elfth of t{;e yearly mortgage insurance premium being paid by Bonower when the insurance coverage lapsed or ceased to '
<br /> r : . ' . � �_ be in effect.Lend..r will accept,use and retain thee paymer,rs as a loss reserve in lieu of mortgage insurance. Loss reserve ' ,
<br /> - '�� • � Form 3d28 9l90
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