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<br /> ' .5. Ha7ard os geo Insusaaoe. Borrawer sl�al! keep the impsovemenu now existin� or herafter erected on the �-�r. �. : 4 '-
<br /> . . " .'' p mp�rty insu r e d a g a i n s t lo b Y fi i c.h a r a i d s i n c i u d e d w i t h i n t h e t erm "exteaded coverage"and any other hazards. inctYtding : ... '�F �.
<br /> flaods or floading,for whic h L ea der req�sires�nsurance-This ins�r�n�sha116e maintained in the amounts an d for t he peti o d S *, .4 a e'' � ._
<br /> � that lender requires.The.insurance rarrier providing the insurance shall be chosen by Borrower subject ta[.endet's approvai ��:,�^�
<br /> " �� ' which shall not be unrea�nably withhetd. If Borrower fails to maintau►ooverage descrcbed�tsove. Lender may. at�T's ; ' . 4 �1 C� —
<br /> - . � ' - option,obtain wverage to protect Lendei s rights in the Propeaty ia aocordance w�t1�R��ph 7. 2;:_ � r�� _
<br /> - _ ;,,�,' �i�u��pnr ; ��renewals shalt be acceptable to L.ender and shaU inciude a standaid mortgage ctause. Lender � i ���i y
<br /> _ �y_...-...-.-�,-- �
<br /> _ �. . shali have t he ri g ht w hold the p olicies and renewals.If Lerider requires.Barrower st�alS cero o the insueranc�e carrier a n d l.ender- �s '�'u-"3���--'
<br /> '. ' paid premiums and renewal nouces•In the eveAt of loss.Bor.rower st�ail give prompt �r �,.;��__:
<br /> _ ` ' .- - �,,epde�m�y make proof of loss if noi made promptly by Borrower. � �,~�-�°---
<br />- ^�.� lJntess Lender and Borrower otherwise ag[�ee in writing.insur'a�►ce PTOCeeds shall be applied to restoiatioa or repair of the --`-----
<br /> g �e �
<br /> • .� . proPerty damaged,if the restorarion or repair is econotnica�ly feasible and Lender's security is rtat lessened. If the resWTation or ____-_-------
<br /> , � � . repair is not economically feasi'bte or Lender's security would be tessene�,ths insurance Proce���be a�plied to the sums ��---
<br /> ` �. ' secu�red by this Security Instrume�►t, N+hether or not then due,with any excess paid ta Borcow�r. Jf Borcower abaudoas the '
<br />- � ' P�roperty.or daes not answer within 3U days a notice from Lender t6at the�nsurauce�er has offered to settle a claim.tl�n _
<br /> �} ; ' :. or to sutns � —
<br /> a�r or restore the Pmperty PaY
<br /> Lender may coilect the imurance pmceeds. Lender may use the praceeds to rep .
<br /> secured by[his Security Instrument,wheiher or not then due.The 30-day period�tilt begin when ihe notice is given.
<br /> , . . Unless Lender and Borrower othenvise agree in writing. anY apPtication of proceeds to principal sha11 nnt exteud or • _ -
<br /> ' ` � postpone the due date of the molrthly payments refesred to in pazagraPlu'� aAd Z or changg the amdunt of the paytnents• IY
<br /> • . . . under paragraph 21 the Property is acquired by I.ender:Borrawer's right to any ins�ance policies and proceeds resulting from
<br /> �• � damage tn the Property prior to the acquisition shall pass to Lender to the extent of the sums sea�ted bY this Secunty I�S��IIt
<br /> :_ ' ::._, : . .:
<br /> .. ' _..immediatel - rior.to the trisitloi�, ._._..:. . _ ._._.__._. ._ _. ._.._.. __ ....
<br /> ; �.- ----�-- � --- - --- Y P � l�cation;i�ase6olds. � -
<br /> . ' � 6.Occupancy,Preservation,hfafiatenaace and Protectton of the Propertjr•�orivwe��"Y:oa��pp
<br /> .. �orrower sha11 accupy.establish.and use the Property as Borrower's prin�ipa!residence within si�cty days after the executinn of
<br /> � : . .. this Security Instrumeni and shall cominue to occupy the Properg+as Borrowei s principal residence for as teasc one year after �_
<br /> � the date of accupasicy.untess Lender otheraise,agrees in writing,whica cansent shall not be unr�asonabiy withheld.or unless
<br /> - •• , - --•- , .- - e�cfenuating ci�dinsiances exisc ahizh are beyond Borrower's control: Borrower shall not destroy,.dau�aSe.oT imPa�t1�e �.=_
<br /> � � • . � • Property, allow the Property to deteriorate, or commit waste on the Property.Borrower shall be in default if any fnrfeitoie - -
<br /> • .� action or praceeding, whether civil or criminal.is begun that in[xnder's goad faith judgment could result in forfeitaie of the _
<br /> � Property or othenvise materialty impair the lien created by this Security Instrurc►eRt or Le�der s security interest•Bo�rower may .
<br /> � �� � �• cure such a default and reinstate,as provided in paragraph 18:by causing the action or pmceedin�to be dismissed witb a mling
<br /> • than. in l.ender's good faith determination. prec�ades forfeimre of the Borrower's interest in the Prope�'ry.or oiher mazerial +
<br /> ' � �, impairment of the lien created by this Security Insuument or Lender's securiry interest. Barrower shall also 6e in default if
<br /> � Borrower.during the loan application procee�s.gave materially false or inaccurate information or statements so Lender(or faited
<br /> - � . . • . _ _ to provide lxnder with any material information)in rnnnection tivith the loan evidertced by the Note.including.but not limited �
<br /> - . . , to,representations canceming Borrower's oceupancy of the Property as a princ6pal n:sidence.If this Sec�srity instrument is on a
<br /> d � le�ehold. Borrower shall cotnply with all the provisions of the lease. if Borrower acquims fee title to the Pmperry. the
<br /> - leasehold and the fee tide shall not merge ur►less Lender agrees to the merger in�vriting. _ _
<br /> - � �� � � 7,Protectton of Ixndes's Righ4s in the Praperty. If Borrower fails to perform the cov..nants and agreements cantained in —�'
<br /> ' � � . � . this Security Instrument. or there is a legal proc.eeding that may significanily affect Lender's rights in the Property (such as a • i i---
<br /> • m m�ation or forfeirure or to enforce laws or regulations).then Lender may do and � ��--r_t_
<br /> - • , prace�ling in bankruptcy.probate.for co de
<br /> � • pay for whatever is necessary to pmtect the value of the Property and Lendci s rights in the Property. Lender s�ions may ;. �
<br /> • include paying any sums secured by a lien which has priority over this Security lnstr�ment, appearing in oourt• payinh _,����„�-`
<br /> '" � '"� �- reasonable attomeys'fces and entering on the ProQerty to make repairs• Although Lendcr may take action under th�s paragrap �.. .. .
<br /> �' �.. . ��•. 7.Lender does r.ot_have to do so. - • +��'��. '�
<br /> . � L.� Any amounts disbursed by Lender under this paragraph 7 shall become additional debt af Borrower secured by this . .•_.� ';,.
<br /> . �• � . Security instrument. Unless Borro�ver and Lender agree to other terms of payment.theae amounts shall brar interest from the
<br /> � . . date of disbursement ae the Note rate and shall be payable. with interest, upon notirx from Lender to Borro�ver requescing _;�. .
<br /> � � .. . . Paymemt• .
<br />- - S.Mortg,nge Insurance If Lender require�mongage insurance as a condition of making the loan secured by this Security
<br /> � � Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. if, for any reason, the
<br /> � •� � . �nortgage inwrance coverage rcquired by Lender lapses or ceases to be in effect.Borro«er shall pay the premiums requir�d to .
<br /> � � •� obtain coverage substantialiy equivalent to the martgage insurance previously in effect.at a cast substantially cquivalent to the . .
<br /> � • � cost fo Borrower of the mortgage insurance previously in effect. from an altemate mortgage insarer approved by Lender. lf
<br /> . � substantiatiy equivalent mortgage insurance wverage is not available.Borrowcr shall pay to Lender each month a sum equal to
<br /> � one-twelfth of the yearly mortgage insurance premium being paid by Borro�ver�vhen the insurance coverage lap�ed or cea�ed to .
<br />"" • � , be in effect.Lender�vill accept,use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve
<br /> - . . Fartn 3D28 9(90
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