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<br /> 5. iin�ard oo• h��•o�z�i•ty I��,a�i•nnLC, 8orruwcr sl�ull ltccp thc impr�vcments nuw cxistin�; ur �cr•ca cr crcctcd nn the �=:
<br /> Properiy insurcci ngninst loss by firc, ha�.urds iucludcd within thc tcrm "cxtendcd covcragc" und any othcr haxnrds, incluJin�
<br /> Floods or flonding, for which LcnJer requires insvruncc. Tliis Insurancc shnll bc nmintuinut in thc umouo�ts nnd for thc parinds
<br /> thut [.crder reyuires. Thc insurance carrier pravidinP the insuruncc shall be cliosen by Bnn•owcr tiubjccR to L,e:ndcr's appraval
<br />_ which shall not he unreasonably witliheld. !f Borrower fuils ta m;.iintuin covcrube dcscribed ubovc, I.endcr may, iit Lc►�dcr's
<br /> option, obtain co��ernge to protect I.ender's rights in ttte Property in accordunce with paragruph 7. _
<br /> AU insurance policies and renewuls shnll be uv:eptabl� tu Lendr.►•and shuli inciuJc u�tandacd mortgabe clause. Lender .
<br /> shull have the right to Itald the policics and renewals. If Lender requires,Borrowcr shall promptiy give to Lcndcr all receipts ot
<br /> paid premiums and rencwal notices. In thc cvent of lass, Borrawcr shull gi�•c prompt notice to the insurance carricr tind I.endcr.
<br /> Lcnder may muke proof of loss if not made promptly by Borrower.
<br /> Unless Lender and Sorrower otherwise agree in writin�, insurance procecds shall be applicd to restantion or repnir of die
<br /> Property damagc,�l, if tiie restoration or repair is cconoa�ically feasible and L.endcr's sccurity is not lcssened.If thc restoratian or
<br /> rcpair is not economlcally feasible or L.ender's scc:urity would be lessenecl, the insurance procccds shall beapplied to the sums _
<br />- secuted by this Security Instrument, whether or not then due, with ztny excess p�id to f3orrower. lf Bottower ubandons th�
<br /> Property,or does not answer �vithin 30 days a notice from[.e�der that the insurance carrier has offered to settle a claim, then
<br /> I,ender may collect the insurance procseds. Lender muy use the procecds to repair or resrore the Property or t� pay sums
<br /> • securr,d by this Security Instrument,whether or not then due. The 30-day period will begin when the notice is�iven.
<br /> Unlcss Lcnder und Borrotver atherwlse agree in writing, uny applicatian of proceeds to principal shall not extend or
<br /> postpone the due date of the monthly payments referred to in paragraphs l and 2 or change the amourit of the payments. If
<br /> unde: oaragra{'�2' ►he Pr��nerty is acquired by Lender, Borrower's right to any insurance policies and procerds resulting from
<br /> � datnage to the Yroperty priu� to the acquisition shall pass to L.ender to the extent of the sums secured by this Security Instn�ment
<br /> � immediately prior ta the acyuisition.
<br /> 6.Occupancy,Preservation,Matntenance and Protection of the ProE►crty;Borrower's Loan Appllcataon; I.�seholds.
<br /> Borrawer shall occupy,estabiish,ttnd use the Property as Borrawer's principal residence within sixty days aker the execution of
<br /> thi�Security Instrument and shall continue to occupy the Property as Borco�ver's principal residence for at least one year aiter
<br /> the date of oc:cupancy.unless Lender otherwise agrees in writing, wliich consent shall iiot be unrcasonably withheld, or unless •
<br /> e�:tenuating circumstonces exist which are beyond Borrower's cantrol. Borrower shall not destroy, dama�e or impair the
<br /> Property, allow the Property to deteriorate, or commit waste on the Properiy. Borrower shall be in defnult if any forfciture
<br />— action or pruceeding, whether civil or criminal, is begun that in L.ender's good faitli judgment could result in forfeiture of the
<br /> Prope�ty or othenvise mnterially impair the lien created by this Security Instrument or Lender's security interes4.Bonower muy
<br /> cure such a defsult und relnstate,es provided in paragraph 18,by causing the action or proceed►ng to ne aismissed wiii►a ruii��g
<br /> that, in Lender's good faIth deterniination, prccludes forfeiture of the Borrower's interest in the Property ar other material
<br /> : impairment of the licn created by this Security Instrument or Lender's security interest. Borrower shall nlso be in default if
<br /> , Borrower,during the laan application process,gave mnterially fulse or inaccurate information or statements to I.ender(or failed
<br /> , to provide Lender with any material information)in connection with the loan evidenced by the Note,incl��din�,but not limited
<br /> � to,representations concerning Borrower's occupancy of the Property as a principal residenee. If this Security Instrument is on a
<br /> leasel�old. Borrower shall comply �vith ull the provisions of the lease. If Borrower acquires fee title to the Property, the
<br /> , leasehold and the fce title shall not metge unless L.ender agrees to the merger in writing.
<br /> 7. Protectton of I.endcr's Rights in the Property.If Borrower 1'ails to perform the covenants and agreernents containccl in
<br /> � this Security Instrument, or there is a Iegal proceeding thut may significantly affect Lender's rigbts in ehe Property(s�ch as a
<br /> prom,ecling in bankruptcy,prabate, for condemnation or forfeiture or to enforce laws or rcguta�ions),then l.,ender may do and
<br /> pay for whatevcr is necessary to pratect the value of thc Property and Lendcr's riglus in the k�roperty. Lender's actions may
<br /> include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying
<br /> reas�;►a�te n.tam,ys' f�:s and entering on thc;Property to makc rcpatrs.Although Lender may take acticn under this parngr�p7i
<br /> 7.Lcr►der does not have to do so.
<br /> An}� amounis disbursed by Lender under this paragraph 7 shail bec;ome udditional debt of Borrower secureci by this
<br /> Security Instrument. Unless Horrower and L,ender agree to other terms of payment, these amounts shall benr interest from the
<br /> _ �ar�of�I�chnr�rmont at thc Note ratc and shall be oayable. �vith interest, upon notice from Lender to Dorrowcr rcyuesting
<br /> payment.
<br /> 8.Mortgage ULSUranc�.If Lender required mortgage insurance as a condition of makin�the loan secured by this Security
<br /> Instrument. Bonower shaU pay thc prcmiums required to maintuin the mortgage insurance in effect, If,far nny rcasr�n, the
<br /> mort�egc insurance covei�age required by L.ender Inpscs or ceascs to be in effect.Borrower shall pay the prerniwns requircd to
<br /> obtnin coverage substantially equiv�lent to the mortgage insurance previously in effect,at a cost substantially equivalent to the
<br /> wst ta Bos-ruwer of thc mortgage irisurance previously in effect. frc�m un altcrnate mortgagc insurcr approved by Lender. If
<br /> substuntietly equivalent mortgaigo insurancc covcrage is not available. Horrower shnll pay to Lcnder each month a sum eyual to
<br /> one-twelfth of the ycarly mongnge insuranee premium bein�paid by Borcower when the insurance coverage lapseci or ceased to
<br /> bc in effect. L.endcr will accept,usc and retain these payments as a loss reserve in lieu of mongage insurar.cc. Loss rescrvc
<br /> Form 3028 9I90
<br /> Papc 3 of 8
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