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<br /> 5.Hazsrd or I'roperty Insurance. Bonower shall kcep the improvements now ezistir,g o h�fter e�i��te•:;�"�e`Pc�peRy
<br /> i , insured against loss by fire, hazards included witt�in the terrn "extended coverage" and any other h.�ards, including floods ar
<br /> , y floc�ding,far which I.ender requires insurance.This insurance shall be maintained in the amounts and for the peric�ds that L,ender
<br /> ` ►' requires.'Il+e inswance carri�providing the insur.u�ce shall be chosen by Borrower subject ta Lender's approval which s?u�ll not
<br /> be unrr,asonably withheld. If Borrower fails to maintain coverage described above, Lender ma�, ��? Lender's oprion, ob�ain
<br /> cove;ag�to proter.t Lendei s rights in the Property in accordance witi�para�h 7.
<br /> AI2 insurance policies and renewals shall be accep�le to I.enda and shsll include a star�dard mortgage clause.Lender shill
<br /> hsve the right to ho�d the pelicies und renewals. If Le:r►der rea�uires,Eorroaer shall�ompfly give t,�L.ender all receipes of pad
<br /> �*e.^.^��.:s d-rd renewal nodces.In the event of loss,Borrower shall give prompt nodce co the insurance canier and Lender.Lend!r
<br /> may make proof of loss if not made p:ompdy by Barrower.
<br /> Unless I.endez arzd Borrower otherwise agree in writing, insurance proceeds shall bc appliPd w restoration or r�:pair of the
<br /> Prep..�rty damaged, if the mstoration or repair is economically fc�sibl•�and L,ender's sec�rity is not lessened;If the restoration or
<br /> repair is not economically feasible or Lende.*'s security would be lessened, the insurance rrroceeds shall be a�plied to the sums
<br /> secured �y ihis Security Instrument, whethar or not ihen due, wi.h any excess paid to Brnrow�x. If Bonnwer abandons the
<br /> ` Property, or does not answer within 30 days a notice from Lender that the iz►snrance r,arrier has offered to settle a claim,than
<br /> i Lender may collect the i swance proceeds.Le:�der may t�the pra,�ds to repair or restore the Property or to pay sums secur��i
<br /> by this Serurity Instrument,whethe�r or not then due.T7ie 30-day period will bet;in when the notice is given.
<br /> �Jnless Lender and Borrower othen�ise agree in writir,g,any applicatian of proceeds to principal sha�:not eztend or postpone
<br /> :he due c3at�of the;non:hty payments reierred to in paragraphs 1 and 2 or change the amount of the�a,yments.If under paragraph
<br /> 21 �he Property i:� ac:qused by [.ender, Borrower's right to any inssuar,ce policies and proceeds resulting from damage to the
<br /> Pro�ty prior to the acqaisition shall pass w Lender tn the extent of�.he sums secured by this Security Instrument immediat^ly
<br /> prior:o tt�e acquisidon.
<br /> 6.Occupsncy,Preservation,Mafintenance and Pro:ection�nf ithe Property; l6orrawer's Loan A�p!ication;Les.yeholds.
<br /> aorrower shali occupy,e,stablish,and use the Pmperty as Bor.ower"s�rincipal residence viithin s'vcty eizys.after the ezecution of
<br /> this Security Insvument and shall continue to occupy ihe Property a:Eotrower's principal residence for at I�ast one year aRer the
<br /> date of occupancy, unless Iznder otherwise agrees in wri�r,�g, which consent shall not be unreaso:iably withheid, or u;�less
<br /> eztenuaiing circumstances exist:vhich are beyond Borrower';;cantml.Borr�wer shall not destroy,damage or:mpair the Proputy,
<br /> alfow the Property to de[eriorate, or commi[ v✓asce on ch,., :"ro�rty. Borrower shali be in default if an� forfeiture aclion or
<br /> p��ceed'ang,wF�ether civil or criminaS, is begun that in Lender's good faith judgment could result in forfeiture uf the Property or
<br /> oiherwise m:au-rially impair the lien created by this Seeurity InsWment or Lender's seeutity inieres� Borrower cnay cure sucl� a
<br /> ��� defa�li and rec�sta�e, as provided in par�graph 18, by cau�ing !he ac'ion or proceeding i� be d;'smisse,d wi!h a ruling [hat, in
<br /> - .� Lender's good faith determination,precludes forfeiture o`the Borruwe,r's interest in the Property or other material impairment oF
<br /> ���<''" thc licn crcatcd by this Sccurity Instrumcnt or i,cndcr's secusity inte.resG Som�wcr shall also be in dcCault if Borrowcr,during the
<br /> loan applicaGOn process,gave materially false�r in.accura!e inforr:iation or statements tc�Lender(or fai(ed to pruvide L°.nde:with
<br /> any �na;erial informalion) in connection with the loan evidencecl by thC Note, including, but not limiled to, representatcns
<br /> •¢� concerning�3errower's or:cupancy of the Property:s a principal residence.If this Securit}•Instrume��.is on a leasehold,Barr�wer
<br /> .� s:ial!comply w�ith all the provisio�s of the(ease. If Borrower acquires fee tide to the Property,the leasehold az�d the fce tiUe si�a:
<br /> : net m.�rge u�less I,erdez agrees to the me�ger in writ�ng. ,
<br /> °�" 7.�'rotectio�of Lecder's Rights in the 1Properiy. If Bonnwer fails to rform the covenants and a eements containeci in
<br /> ��� :,;;' B P S Y 8n Y� g � perty (such as a
<br /> -,�� this Secu.-i�y ins�ument, or there is a le ai roceedin that ma si ificantl affect I.ender's ri hts in the Pro
<br /> ,,.�.
<br /> �� -= yTCr.,eed:ng in ban3miptcy,probate,for condemnaCqn or torfeiture or to enforce laws or regu!ations),the�n I.ender may do and pay
<br /> i'� for wiiatever is neces�:,ry to pro•:�xt the��als�e of the Property and Lender's rights in the Property.Lender's actions may include
<br /> pay�ing any sums 5�::ured by a lien which has priority over this Security Instrument, appearing in co�:rt, paying reasenable
<br /> �,A.: att�meys' fecs and entering on die Property t� m�:ke repairs. Although Lender may take action ;uidcr this p;ua�rraph 7,!.ende:
<br /> , .
<br /> does not have tn dc,so.
<br /> Any ar�our�ts disbursed by Lender under this paragraph 7 shall bacome addi�onai debt of Borrawer secur�d by this Set utity
<br /> � � ln.strumen[. Unless Bor.oN.�r und Lender agree to othcr terms of payment, �hese amounts shall bear in�ere,c� trr�,�n the date of
<br /> '���>
<br /> a: disbursement at the Note rute and shall be payable,with interest,upon�ROtice from Lender to Borrower requesting payment
<br /> 8.Mortg�Qe InsuraRCe. I£lendcr required mortgage insurance as a condidon of making tne loan ;ecured by this Security
<br /> Inswmer.t, Rorrower shall pay the prerrciums required to maintain the mortgdge insurance in effec� If, for any reason, the
<br /> mongage insurancc coverage requi e.d by I.ender Iapse� or ceases to be in efl'er,., Borrower shall pay the premiums required to
<br /> obrain cove*aoe substanlially equivalen! tn the mortgage insura.lce previously in effect, ai a cost substantially equivalent to the
<br /> cost to Borrower cf the mongage insurance previously in effect, from an alkms.te mort�age insurer app:aved by Lender. If
<br /> : . substantially c,auivalent mortgage insurance coverage is net avai!able, Borrawer shai� pay to T.ender each rnonth a sum eqn�l to
<br /> ;.�:,
<br /> one-twclfth or l5c yc;.�trly mort��fge insurance premiurn heing paid by Bono�-er wh�n the insurance co��erage lapsed or ceaseci to
<br /> be ir. effec� Le;�der will acec�t, use and retain these payments as a loss c•e,serve i:, lieu of sn.�rtgage insurancr,. Lnss resecve
<br /> Form 3028 9/90
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