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<br /> 5. Hau�r�! or proptrty Insu�'QIIC@. �orrowcr siroll keep thc impravcments now existing on c�rcaftcr cccctcd an thc
<br /> F'roperty insurcd agninst loss by fire, hazards included �vithin the term "extended covcragc" �nd any ather huArds, includins
<br /> flnodf,c�r flooding, far which l.endcr rcquires Insurance. This insurance shall be mi►intnined In tBe amaunts and for the f�eriocly
<br /> tie;t l.r.uder rcquires. The Insurance rarricr providing the insurunce�;iudl bc chosen by�orrawcr suhject to L.cndcr'ti npprovnl
<br /> ���hloii shall not bc unrcosonably wi�hhcid. If 8nrrowcr fuils tu mni�iti�in cavcragc dcscrihcd ctbuvc, f.cndcr may, nt I.cndcr's
<br /> ��pdnr�,nhtain covcra�c to prouu I.c�ndc�•'ti ri�tl►ts in Ihc Pruperty in uccordancc with �pam�±eaph 7.
<br /> A!1 insurunce ptilicies i►nd re»ewnls rhidl he ucceptiible so Lender und shall includ�u stnndiird mo�tgi�ge clause. Lcncier
<br /> sliall have�he right to huld tlic pollcics nnd e�enew,�ls. If I.endcr requires.i�orrower sha4 promptly glve w Lcnder all receipts of
<br /> paid premfums iind renewnl notices, ln the event of lotis,Bonower shull give prompt �irnice w die insurance carrier and Lender.
<br /> I.endcr m�y mt�kc proof af loss if not madc pron�pdy by Borrowcr.
<br /> Unl�ss Lcnder nnd 8orrower othenvise agree in writing, insurance proccc.ds shall be applied to restoration ur repair of the
<br /> Rroperty di�mnged,if thc restoratian or repair is ecottomIcally feasible mid Lender's security is not Iessened. If the restoration or
<br /> rapair is not economically fensible or Lcnder's security would be lessened, the insurancc proceeds shall be applicd to the sums
<br /> so;ured by this Sccurity Inst�ument, whethcr or not then duc, with any excess paid to Borrawer. If Borrower ubandons the
<br /> Atoperty, or does not nnswer within 30 days a notice from Lcnder that the insurance carrier ha.s offered to settle u clairn, then
<br /> Lender may collect the tiisurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums
<br /> secured by this Security Instrument,whcther or not then due.The 30-day period�vill begin wlien the noticc is given.
<br /> lJnless Lender and Bonower atherwise agree in writing. any applicutIon of proceeds to principal shall not extend or
<br /> Fastpone the due date of the monthiy paymcnts rcferred to in paragraphs Q And 2 or chAnge the amount of the payments. [f
<br /> under paragraph 21 the Property is acquired by Lender,Borrower's ri�ht to uny insurance policies and proceeds resultin�from
<br /> damage to thc Property prior ta the ucquisiti�n sh�ll pass to Lender to the extent of the sums secured by this Security Iastrumenf
<br /> immediutely priar to the acquisition.
<br /> 6.Occupancy,Preservation,MaEntensuxco and Protectlon af the Property;Borrower's Loan Applicution;Leasete�lds.
<br /> IIor*ewer shall occupy,estable�h,and use the Property as Horrower's principal resi@e�ce within s{xty dnys after the execution of
<br /> this yecurity Instrument m�d sh�ll continue to occupy the Property si.g Horrower's principal residence for at Ieast one year after
<br /> the date of occupancy,uniess L.ender otherwise agrces in writing, which consent shall not be unreasanably withheld, or unless
<br /> extenuating circumstances exist which are beyond Bo�rower's cantrol. Borrower shall not destroy, damage or impuir th�
<br /> I'roperty, allow tite Property to deteriorate, or commit waste on the Froperty. Borrower shall be in default if any forfeiture
<br /> action or proceccling, whether civil or criminal. is begun that in I.ender's good fuith jndgment wuld result in forfeiture of ths
<br /> Prn�r��n2���honu!°."SP.3t�!'��l��'!:�`3SS i1:��S�S2�SP42���«�2!°�"!!ii�'r!'St21L'T'»°.*!T^r Lnrflnr'c cP��sit�jntrrr.ct, R�rmtivrr�nav
<br /> cure such a default and reinstate,ns provided in paragraph 18,by alusing the action or proceeding to be dismissed wlth a n�iing
<br /> that, in Lxnder•s gaod faith deterr►�nation. precludes forfciture of the Barrower's interest in the Property or od�er material
<br /> impalrment of the lien ereated by this Security Instrument or Lender's security interest. Boriower shall also be in defsult if
<br /> Borraw�r, during•the loan app(iCation prceess,gave materiaily false or inaccurate information or statements to Lender(or failed
<br /> to pravide I.ender with any matedal information)in connection with the loan evidettccd by the Note,Including,but not limited
<br /> to,representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instniment is on a
<br />, leasehold, Borrower shull comply with all the provisions of thc lease, If Bonower ncquires fee title to the Property, the
<br /> leacehold and the fee tide shall not merge unless I.endcr agrces to thc merger in writing,
<br /> 7.Pxotection of I.ender's Kights in the Property.If 9ortowcr falls to perform thc covenunts a��d agreements contained in
<br /> this Security(nstniment, or there is a legal proceeding that muy significantly affect I,ender's rights in the Property (such as a ,
<br /> prceeeding in bankn+ptcy,probate, for candemnation or forfeiture or to enforce laws or regulado�},then I.ender may do anc!
<br /> " pay for whatever 9a necessary to protect the vnlue of tbe Propeny and I.ender's�9gl�ts in the Prop�erty. I.ender's actions muy �.
<br /> include paying any sums secured by n lien which has priarity �ver d�is Securit3r instrument, appeudng in court, puying '
<br /> re�sopablc�ttorncys' fces aM cntering on the Property to mnke repairs. Although Lender may take action under this paragraph
<br /> ` 7,I.ender docs not have to dc�so.
<br /> Any anx�unts disbursed by Lender under this parn�raph 7 shall bccome ndaitional dcbt of Borrower securod by this
<br /> S�ecurity Instrument. Unless Bonower and Lender agrec to othcr tenns of payment, tlxse a�nounts shall beaf•interest from the
<br /> datc of disbnrsement at tnc Note rate snd shell be payable, with lnterest, upon notice from Lcnder to Borrower requesting
<br /> payment.
<br /> A.Mortgage Ir�surance.If Lender required mortgage lnsurnnce ns r�condition of mt►king the loan secur�d by 4his Security
<br /> Instrument, Borrower shall pay the premiums required to maintain ihe mortgage insurance in effect. If, for any reason, the
<br /> mortgage insura�nce covernge required by L.ender iapses or ceases to be in effect,Borrower shall pay the premiums requirecf to
<br /> obtnin coverage substantially equiva[ent to the mortgage insurance previously in effect,at a cost substantinlly equivalent to the
<br /> cost to Borrower of the mortgnge insurance p�viously in effect, from an altcrnnte mortgage insurer approvcd by x.endcr. If
<br /> ' substnntialfy cquivalcnt mortgnge insur;tnce covernge is not avuilablc,Bonowcr shall pay to L.en�er e;►ch month n sum ec{ual to
<br /> one-twelfth of the yearly ntottgage insurance premium being paid by Borrower wtien the insurance coveragc lap.seti or ceased to
<br /> be in effcct. Lender will accept,use and retuin these payment�as n loss reserve in lieu of mortg.jge insurance. Loss res�rve
<br /> , Form 3Q28 9/90
<br /> • Pege 3 of 6
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