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<br /> 96_ i003�4 -
<br /> S. Hazsrd or Feo�riy gasw�ase. Borro�er sha1D keep the improvements now exiuing or hereafter erected an the -
<br /> -� '' Fnop�riy insared against loss by fire, hazards included within 4he term "extended wvemge"and any other hazards,inzludin� °'
<br /> • ttoods or Qaading,for which LeAder requires insurance.This ir�surance stu�ll 6e maiatuiaed in We amounts and for th:periods ��
<br /> that Lender requires. The insurance carrier providing the insurance shall be chosen by Horrotiver subject io Ler.d�'s appmcal -
<br /> �•�
<br /> _ which shall not be unteasonab}y withheld. If Borro�ver faits to maintain covera�e described above. Lender may. at Lender's
<br /> ; aprion,obtain covemge to pratect Leadei s rights in the Property in acoordance with paragraph 7. -
<br /> L, All insumnoe policies and renewals shall be aoceptable to Lender and shap include a standard mortga�e tG�se. Lcuder --
<br /> shall have the right to hold the policies and renewals.If Lender requins.Horrower shall promptly give to I.ertder a!f mceipts of ��_
<br /> ' paid premiums and renewal aotices.In the event of loss.Eorrotiver shall give pron►pt norice to the insurance carrier and Lender. �
<br />_ Lender may make proof of loss if nat made promptly by Borrower.
<br /> �'`• Unless Lender and Eonower otherwise agree in writing,inscuance praoeeds shall be applied to restoration or repair of the =_
<br />..�' Property damaged,if the restoration or repair is eoonomically feasible and Ixnder's security is not lessened.If ttie reswrazion or ,'�
<br /> f.� .
<br />' repair is not eoonomically feasb2e or I.ender's securiry wonld bc l��sened,the insurance prooeeds shaU tr ap�iiod to the sums ��:
<br /> sec�tted by this Security Instnu,��;t, whether az ent t��:-se, with any excess paid to Borrower. If Borrovrer ab�r�ors thA �=
<br /> - Property.or does nnt answer wr�30�days a��ce��P.ender that the insuraace carrier has offered to settle�claim,then —�
<br /> , I.ender may cotlect d:e insur��ee�.-�cxeds. E�'�.:sr mav :�the proceeds to repair or reswre [he Propeny or to Qa3r sums ��
<br /> . secv�3 by this Secauity Insmur�-�waeth�r or aot then d�.'I�ie 30-day period will beg�when We notice is gi�•er3. —.
<br /> rirnless i.ender and Borro�a�c•otherwise agtee in vai�ting, any appGcation of��s to principal shali nat extend or �
<br /> pos,�r,�the due date of the montfily payments referred:o.3n paragraphs 1 and Z ac�ange the amount of the payments. If �':':
<br /> : un�r paragraph 2I ih�Property is acqvi�d by Lender,Barrower's righ.t�+any insurance policies aa�proceeds resulting from —
<br /> •;:��,j damage to the Property priar to the acquisiti�:bal1 pa�s to Lender to��,r,.ent of the sums secvre�i f�y s:his SecuDity Ins�t �`
<br /> ,� -,t immediately prior ta the acquisition. . _-�
<br /> '•�` !' 6.Occnpancy.Freseervv�as,Matatenaace and Pratediun of tTne , • �;=�'
<br /> �'rry-�erty�orrawer's Loan Appiiratiu��;�sei�a��s. �.
<br /> Borrower shall oocupg,esra�t�.�..�uad use rhe Property as Boravwer's priri�t resid�.sxithin sixty days aftes.tIv�.e��ca nf. —
<br /> tbis Securi Instrctuu�r�s and s7saiP rontinus�z+occu the F- r'"
<br /> ,',`f,, tY PY �'oPErty as Bo���'s��al residence for at least cc�e��.t�sf'�- .
<br /> � the date of occupancy,unles.�I.ender oiherwise agrees in writiag. whfch cm�sent shaI� not be unreasonably withhe����t~Jc���.". � -
<br /> ' ' extenuaiing cireumstances exist which are beyond Bornower's conunl. Borcower st,.�ll not destroy. dama� or i�s�s uis �—
<br /> „ �� R�operty, allow the Properry to deteriorate, or wmmit waste on the Prop�rty. Earro+,�r shall be in dsfaWt if a�d'orfeiture �.?-
<br /> ° "• aciion or p�ing,wheiher civil or eriminal. is begun that in l.ender's goad faith;;v:�,nent coutd resui2 icj forfesAue of the ��`
<br /> Property or otltenvise materially impair the lien created by this Se�uriry Insirumeut or Lender's security int�etRst.Bonower may
<br /> . wre sach a default and reiastate,as provided in p�rs�graph 18.by causing the action or proceeding w be di�iatissed wiW a niling:•
<br />'. tha� in Lender's good faith determination, preclades forfeiture of the Borrower's irs�rest in the PmF+erty or oi3�er materisI� -
<br /> impairmeat of the lien�reated by this Se�carity Insdument or Lender's security intr��t.Borrovrer sha14 a'.so 6e.ir default if °'¢"'
<br /> H��awer,during the loan appli�on psocess,gave materiaUy fals�e or inIICCUiate infi-�on or state�.en��to I,su�FU�,�r faj2�� �;;;;.,
<br /> to provide Lender with any m�:air;�l inforn�aion)in connec6an with the loan evidencedi by the Nose.inei�a�ing,buC�pt limited- -:"`
<br /> ' to.regresentations conceming Bor�ower's ooa�pancy of the Property as a�xa�cipal residence. If th�s Secarity InspumPnt is on a =-
<br /> leasehold, Borrower shall compty witb aIl the provisians of the lease. &f Borrower acquirea fee titla to die Pro�rry, the
<br /> Ieasehold and the fee tide shall not merge unless Lender agrees to the merger in writing. . .
<br /> -: ?.Pt�otecNon of I.ende�'s Ittghts in the P1rn�perty.If Borrower fails to perform the wvenasts a�d�eer.�ents cumained in c-'
<br /> - this Security Tnsuument, or there is a legal praceedIng thut mt�y significantly affect Lender's rigift3 in the Property (such as a
<br /> � proceeding in banYQr�tcy.probate.for condemn2tion or forf�iture or to enforce laws or regudati�na),:t2ien Lender may do and �
<br /> pay for whatever is�ec�ssary•to proteci the�rmJ:ue of the Pmparty and Lender s righta in the Prageriy. �nder's aCiions may
<br /> include paying any sums secumd by a lien which has priority over this Security Instru,,-�ent, �;.earing in oourt. paying
<br /> reasorab2e attomeys'fees and��ring on the Praperty to make repaiis.Although Len�i�t may 9afte actian u:�cr�t�s paragraph —
<br /> • � 7,Lender daes not 6ave r�o do�v, —
<br /> Any amovr.:��i:sbuased,i:3 l.ender under this purag�a�n 7 s6s.(t� ��aome addietaaal de6t of�Atizrov�er fcraa��d by this `�
<br /> • ' Security Instrumaittc.'�iJntess�c��;n�ver and L�.mder agree to ot5er t$rns nf�.���nent.�e am.our.M>st�ati�b�r ir�us�n from the -
<br /> t
<br /> date of disbu�setnem at tiie h:r•,��e rate and shal! be Qnyatz'r�, vrith inter�, �:po�a IIotir�.e f.ro�Ir«°nder to Borm+�cti�ieqnesting �
<br /> payment. �
<br /> �� ' � �8.14iortgage Insuranae.If 3..eader required mort�ge insurance ac 3 oondition of z.-�arB th;Ioan secured by this Secarity
<br /> • .� Instwnent. Borrower sha11 pay the premiums requited to maintain the m:QCt�e irstaance ia:effeCt. If. for any rqson, the �._-
<br /> •;�s m�artgage insurance caverage required by I.en�zr la�pses or ceases to be in effect,BoTaow:r s�(J pay the pnmiums required to
<br /> • 4 obtain coverage substantia(ly�a;::valent to the rnortgage insursince previoasly in effe,ci', �t a em.�t sabsqntially equivalent to the
<br /> : . �" cost to Bo�tower of the mort�s��inswance previously in effect, from an alternate nrort��insurer approved by Lender. If —
<br /> .. � substantially equivalerti mortg�;�snsuiance wverage is not availuble,Borrower shut4 g,�J to T;end�s u�tt:f�monti`i s�uu equal to
<br /> '. one-twelfth oi the yearJy cuortgage insurance premium being paid by Borr�wer when ehe irr�uualme caurxage lapsed or ceased to
<br /> � be in effeci.Lender wilt acsept,use and retain these payments as a(oss n�erve in liea of xr.ortgnge incurana. Loss resetve
<br /> ���' '�• Fatnn3028 9/90
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