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<br /> :.;;;,:: < . . 5. Nnzc�rd or �°NU�xi-is intiurunca linrro�ti-cr shall kcep thc impr���cnicnts now exititin}; or licrc�ftcr crcctcd un thc
<br /> ' ' "}'`� Y Property insurcd ,iguintit lass by firc, harards includcd within thc tcrm "cxtcndcd cc�vcrngc" +ind any othcr haxurds, including _
<br /> � flnods or flouding, fur which l.cndcr rcyuirc+insurancc. 'I'his intiurancc tihall hr miiintaincd in thc cminuntti unJ for thc pctiods
<br /> that l.�ndcr rcquirc�, 'l'hc in+urancc c:rrricr providing ihc insurancc tih�dl �c chi�+cn By Hurr�nvcr suhjcct tc+ l.ciiacr'� ,ipprov;il .,
<br /> . ;-y-=;� �vhicl� shall nut bc unrcatiunably �vithheld. If Horruwcr fails tc� maintain covcrugc dc�crihcd abovc. I.�ndcr muy,at Li:ndcr's
<br /> • �";_^�`.,�.:�.� option, uNtain cuvcragc to pratcct I.endcr's rights in thc Praperty in accord.uicc�vith paragraph 7. ..
<br /> � All insurance pulicie�, und renewalti shall be arcept:sble t� I.en�lcr unJ shall i�irlude a stlndard mortga�e clause. L.ender � • •
<br /> • shall h;tvc thc riglu to hold tlic pc�licics anJ rcncwuls. IF L..cndcr rcyuires, Borrrnvcr shull prumptly givc to L,cndcr all rcccipts of ,. � �.
<br /> „ pai�i prcmiums and rene�vul noticcs. ln the c:vent of loss. Bnrrowcr tihu�l give prompt notice to the insurance carrier nnd L.endcr.
<br /> -- Lendcr may makr.prnr,f c:'loss if nu!��2idc pn�m;+tly hy Rnrrowcr. � �
<br /> " Untess Lcndcr and Borrower othcnvisc agrec in writing, insurancc proceesls shall bc applied to restor�tion or rcpair of the ���`�
<br /> . ul if the restoration or repair is ecanomically feasibfe snd Lender's security is nc�t Icssened. if the restoration or �p*�Z �� ��d�....
<br /> Property damag .
<br /> �' . , repair is not economically fcasible or Lender's securiry would he Iessened.the �nsurance proceais shall be applied to the sums __ ___ ._
<br />;�j � secured by this Security lntitrument, whether or no[ [hen duc, will� any excess paid to Borro�ti�er. If Burrower a6andons the �-
<br /> � Property,or does not answer�vithin 30 days a notice fn�m C.ender that the insurance carrier has offercd to settle a claim, then
<br />'':, Lender may collect the insurance proceeds. Lender may use the proceeds to repair or re�tore the Property or to pay sum5
<br />- secured by this Security[nstrument,���hether ur nut then due.The 30-day periad�vill begin when the notice is given. �,,,���t;.._
<br /> �Y'"OL��IIIY_.-
<br />— Unless Lendcr and Bon•owcr otherwisc ayrcc in writing, any appliration of procceds to ptincipal shall not extend or ���;,_
<br /> _ postpone the due date of e4�e monthl a ments reien�eu w in paragrapris 1 a��d = or chang.ttte amount ef the p?v��rnts Tf ��- --- -
<br /> Y P'Y
<br /> : , � under para�raph 21 the Property is acquired hy Lender, Bnrro�ver's right to nny insurance policics and proceeds r�sultin�fram
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<br /> �- dantage to the Properiy prior to the acquisition shall pass ea L.ender ro the extcnt�f the sums secured by this Security Insttument
<br /> ' :� immediately prior to the ucquisition.
<br /> +�: 6. Occupuncy,PresPrvation, Mai�tenance and 1'rotectton af tl�e Pruperiy;Borro�r•cr's I.oan ApplIcatfon;I.easeholds. - -
<br /> ;i','� �'^ 8orrower shall occupy,est:�hlish,and use the Praperty as BorrowFr's principal rr.sidence within sixty days after the execution of
<br /> ' �r� this Seeurity Inswment and shati continue io occupy iiic FroN��.y�w�T�%�1��`�• �^-r;nrj�a� rrcidenee for at IeSSt oIIe yG1T aftCP
<br /> „ .� the dute c�f occi�pancy, unless I.ender othenvise agrees in�vriting,which consent shull not be unreasonably �eithheld. nr unless _
<br /> extenuating circumstance�. exist which are beyand Burrawer's controL Dorrower shnll hot destroy, dam�ge or impair the
<br /> .a. Property..allow the Property to deterior�te, or commit waste on�he Propcny. Borrower shall be in default if any forfeiture
<br /> �� actian or procuding. whether civil or criminal, i+begun thaY in Lender's go�xl faith judgment cauld result in fixfeiture of the
<br /> � Propct�ty or othcrwisc matcrially impair thc licn crc:stcd by this Security �nstrumcnt or Lcndcr's accurity intcrest. Horraw�r may
<br /> • . cure such a defuult atnd r�instatc,a,prcwidcd in par.�graph IR, by causing thc artion or prucccding to bc ditimisscd with a ruling
<br /> � •• that. in Lcnder's guud faith detcrminution, pmcludc+ tiirfciwrc ��f the i�i�rro�vcr'� interest in tl�e f�mperty or atleer material
<br /> • - . � impairment of the licn creatcd hy thi� Sccurity lnstrumem ur[.cndcr's sccurity intcrest. [3rn•rowir sha�ll alsn Ix in dctault if �
<br /> , Borrowcr.during thc loan application proccss. gavc matcrially falsc or inaccuratc infnrmation ur stutcmcnts ta L.cnJcr(or failccl
<br /> • ° to provide L.ender with.my material informati�en)in runnection with the loan evidenced by the Note,including, but nut limited
<br /> , �- to,rcprescntation�conccrning eorcowcr's occupancy of thc Pro}scrty as a principal residcncc.If this Srcurity Instrumcnt is on a ��
<br /> • • Ic:tschold. Borrower sliali comply with all thc provisions i�f thc Ir.is�:. If Borrowcr acquires fce tiNc to tlte Property, the �
<br /> ' leasehc�ld and the fee tide shall not mergc unlcss Lcndcr agrecs to the ntergcr in writing. �,._�
<br /> • • 7.Protection of Lender's Rights In tlie f*roperty�. if Borcower fails to perform the covenants and agreements cantained in �
<br /> :�.
<br /> ..� this Security Instrument, or therc is u Icgal pracccding that nr,ry si�nificnntly affect I.�ndcr's rights in the Pro}xrty (such us a
<br /> . :µ�_: proceeding in banktuptcy,probate, for condemnation or forfciwre or to enforce laws or regulations), thcn L,cnder may do and
<br /> � pay for whAtever is necessary ro protect tlie value of thc Property and Lender's rights in the Property. L.ender's actions inay _ ______
<br /> ���-� inc�ude p�ying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> . ..�,��'• . reasona�hle attorncys' fecs and entcrin�;on the Propercy to make repain. Although Lendcr may takc action under this paragraph �-
<br /> •- 7,i.c�idcr docs not have ta do so• --��
<br /> �� , Any amaunts ditibursed by Lender under this paragraph 7 shall Uecome additional dcbt of Borcotvcr sccureci by this _vT_.��_-_—..
<br /> Sccurity Instn+ment. Unlcss Borruwer and I.endcr ugrcc to other tenns of payment, thc�e amowus shall bcar intcrest from the ����.
<br /> � � date of disbursement at thc Note raitc and shall bc payablc. with interest, upon m>tice from Lcndcr to Borro�vcr requesting �����_
<br /> . paymcnt. �;:�;r_c�cx�;.-�
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<br /> ° , 8.M1toM�;A�e Insurance.If Lender required monguge insuranee as a condition of makin�; the loan secured by this�ecunty , __.�:
<br /> Instrument, Borrower shall pay thc prcmiums rcyuired ro niaimain the mortgagc insurance in effect. If, for any re:ison, the .�� � .•:�;�`'
<br /> .. mongage insurance coveragc rcyuired by L.cnder lapses or ccases to be in effect, iiorrower shall pay the premiums rcyuired to •
<br /> • , obtain covcrage substanti;illy eyuivalent tu thc martgagc insurancc pre�•iously in etfcct.at a cost substantially equivalent to tlte
<br /> cost to Burrowcr of thc mortga�e insurancc previously in effect, from an altcrnatc mortgagc insurcr approved by L.cndct. If
<br /> - � substantially cquivatent mart�;agc insur�ncc rovsrage is not available.Borrower shall pay to l.ender each month a sum equal to ..
<br /> `� '` one-t�velfth of the yecirly nwrtgage insurunce premium being paid by Borrower when the insurance coverage lapsed or ce�lsed to ,.
<br /> ,; bc in cffcct. Lender+vill ucrcpt, usc and retain thesc payments as a loss reservc in licu of rnortgagc insurance. Loss reserve
<br /> Form 3028 J/90
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