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<br /> ` ' , 5. H�rd or Property Iasoranoe. Bomower sha11 keep t6e improve�nts now existing or heteafter etected on�the
<br /> , ' . Proporty insvred against loss by fire..hnzards inctuded witbin the torm°extended wverage" and any other hazards, incladac�g`
<br /> ttobds�or floodiag.for wGich L,eader requires iiis�uanoz.This insucaru�sha116e nmintained in the amounts and for the p�riods —
<br /> � t�at Lender requires.'Phe iasurance carrier pmvicling the insurarx;e sha116e choseil by Borrc�wer subject to Lender's appmva�, _
<br /> which shaU�not b�e nnreasona6ly withheid. If Borrower fails to maintain soverage descri6ed above.I�uder m�r.at I.ender's —
<br /> option�nbtain coverage to protect Lender's rights in the Property in accordarice with paragragh 7. ' _
<br /> All insurance policies and renewals sha11 be acceptable ta Lender and sP�all include a staadard mortgage clause. Lender . _
<br /> shall iiave the right to Hotd the policies and renewals.If Lender raquires,Boim�ver shall prompdy give to Le�ader all receipts of,
<br /> Qaid p�emiwns aad�enewal noaces.Ia the eeent of toss;Borrower shall give pm�mpt notice to the ids�u�ace carrier and Leader. _
<br /> L,euder may make proof of lass if not made promptiy�by Borrower. � , ` • . ` _
<br /> Untess L�ende�and Bormcver o�heraise agree in writing,i�-ance pmc�eds shall be agplied to restoradoa ur repair of the .
<br /> Pmperty cB�maged.if the.testorarion or repair is ecoIIOmic�lIy fe�'�le and I.ender's seearity is not lesse�d.If the reswr�tion or � _
<br /> repair is not economically feasible or Lea�der's sea�rity wouId T¢e Iesse,ned,the insuranoe praceeds sha11�Se applied to the sums '
<br /> secured by ttus Serurity Instrument, wheWsr or no��heti due,with anyr eao�s gaid to Barrawer..If E�,cmwer a6audons the . .
<br /> . Property,_or does not answer within 3i1 c3ays a aotice fro��I.ead[�.r;thax the insnrance carrier has offerec# to se�tIe a cizim,then .
<br /> Lender nr�y colltct the msurance�c.�ds. I.ender�ma�r use r�t��roceeds w repair or restore the Prespeity or to�sums ,. . —
<br /> secur�t ba�Jr�es 8eceuity Instrunlenz;.w�ether or a�t t5en due.Z��3�day�era�wil!6egin wlien the nat£ce is giveu..:::'..;.
<br />, UnIess E,eu�er az�d"$orrawer dtherwise agrae.in writing, aaY BPPI�ammn of proc�eds w principal shall no2;��ad or ,
<br /> postpone the dae da2e�c�.the'atoaWty payinents r�'erred to in.Faragiaphs 1 and 2 or change the aaiount uf the payr.senss. If • ,
<br /> ----.__....w�der.�are�,F�h2l Ehe:PropertqSs acquiFed.by.Lender.Borrowea:s.right to any_insurance policies.and proce�s resW.��from_.__... ., .
<br /> damage a�RT�e Propecty prior tp the acq�isition shali pass'w Ler�3er_to the exteut of Ehe snms secured hy this Security I�rum,ent
<br /> . iimnedia:eiy prior to the acquisitian. � , ' ,
<br /> - �-b.t�n..^ys P�vatlon,fi�Isiateuauce an8 Fpotect�on�`of We Froge�4Y,�Borcower's Loan Appl[c�tfo�I.easehoids. -
<br /> . Sorrawer shall accupy,est2blish,and use the Pcopecty as Borrower's psincipal resideace within sixty days after,che e�ceeuHon of ,
<br /> this Security Insdvment and shall cbntinue to ocarpy the Property as Aorrowei's princigat tesidence for at least one year,after.
<br /> tl�e date of accupancy,unless Lendee otherwise agrees an arritnrg,wlricb conseM shall noi be w�masonably w6thheid,or uhtess
<br />� exteauating circumstances exisi.whicb are beyond Borrower's control. Borrower s]�aall not destroy, datnage or impair.th�
<br /> Property, aItow the e�riy to dete�ior�tte. or,cammit wastcc on the Prope�ty. B�rrower shal!be in defauli if any fosfeiutte ,
<br /> • action or prac�edin���ether civil or criminal,is begun ttiat in Lender's g:�d faith judgment ca�utd r+�..�t in forfeiture of the ,
<br /> � Froperty�Qa otheicvsse uiaterialty Impair the lien created by this Setuutiry" 1'nsfrument or Lender's security`��r`,l�st.Borrawer may
<br /> cure s�ch'il�tefault aad'teinstate,as provided in paragraph 18,I��i��sing the actioa or proceeding to be dismissed witI;a mling
<br /> that, i�•d:�nder's good faith determination, Precludes forfein��f the Hor.�awer's interest in fhe Property or o�.�ir�atQraal
<br /> ,;: impairai�t oF the lien created by this Securiry Instrument o��ender's securlty interesd. Borrower sh�ll also be in�e�ault if ,
<br /> �:��Bfltrower,during the loan app�iprioa process,gave matertally false or inaccurate informarioa or statementa to I.ender(or failed
<br /> �" to provide Letider with any material infOrmation)in connecpion huith the loan evidenced by the Nota,incindiag,tiut aot limited �
<br /> � to,repre5entations concsrning Borrower's occupancy of the F�ns�rty as a principal residence.If this Security Ins�ume�s.3s on a
<br /> Iease�ialci; Sor�nnwer shall co.mply with all the provisions ef t�e.tease. tf Borrflvre;accsuires fee dtte to the Pra ��;; the .
<br /> . .Ieasehold and:ha fee d�te Shali not me��e uNess Lender agrees t�'th$merger ia w�Iting: ' . • '
<br /> � 7.Yrot�ton of��er's Rlghts in the Fr��r.If Borcorover f�ls ro perfor�the oovenants and age�;m�nts oontained in
<br /> .�. dus Security Insmuncnt,or there is a legai proct-s2�..'�ng that.may significantly affect Lender's r3ghts,in tfle Property+(such as a. .
<br /> proeeec�i�.iu banktuptcy,'pmbate, for coudemnaaon or fbrfe��-*e or to enforre lawa or regaTations),then l.ender may,do.aad � �
<br /> Qay for vv�t2�tever is nece.ssary to ptulace the vaiue of the Pr��itty and'Lender's nghts in tAe Property. Lender's�itt�ie�7s mny
<br /> iaciude y5ayfng any s�ms sQCUred.b'y a lien which �has_priority over this Sectuity Instrumeat, appzarin��in,oon:�, payang •
<br /> reasonabfe attomeys'fees and entering bn the Prqperty fo make repatrs.Attheugh I.ender may take actiox�und�r tbis,paragrapb
<br /> T,Let�der does noi fiave to do so. . . � . ' .
<br /> _ M� amounts dlsbnrsed by I.4ader�under this paragraph 7 skall became addidonal debt of Borrower s�aued.by this
<br /> Security Insaument.Untess Sorrotiye�,and Lender agree to ather terms of payment,these aawunts shall bear inteaes;;�m the
<br /> date.of disbtusQatent at the Note rat�and sAall 6e payata�e, with iaterest, upnn notice from Lender to Boriower i�is�'u�ssting �
<br /> - payment. , . . . ,
<br /> � 8.Martgage Insuraace.If Lender required�,ottgage instiranee as a condition of makLng the Ioan�+e�zicl�y flris Seciuity .
<br /> Instrument,Borrower shall pay We premiums required to mpintain th� mortgage insurance in effecl. If, for any reason,the � -
<br /> mortgage insurance wWerage required by l.eader tapses or oeass�to be in effect,Borrower sliall pay the premiums r�'aired tb
<br /> obtain cavera�e substantiapy equivalent to the moxtga$e insurance previously in effect.at a.00st substantialty.equiva7�t ta the
<br /> � cost to Barrower oF the mortgage insurance pre��vsly in effect, from en alternate mortgage insurer ap�vved by Lender. Ii
<br /> substaatial{y equivalent mortgage insurance cov�z�e is not available,Borrower si�all pay to Lender each�anth a sum eyua!w
<br /> ono-twelfth of the yearly mortgage insurance pre�nium being paid by Borrower when the inturance ooverage l�sed or Qea,sed W
<br /> be in effect.Lender will accspt,us�and retain these payments as a loss reserve in lieu of mortgage inswmnce. Loss.maserve .
<br /> . Fortn 3028 .9/90
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