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<br /> S. �rd or Pro�crty �msvrance. Bo�wer shall keep the improvemenu naw existing or hereadter e�ected on the ---
<br />. Property iasured agaillS�t loss by�ire, harards inci�ded within ths term °extertded ooverage" and uny mher ha7.�sds. including _
<br /> floods or flooding, for which L.ender rquises insuranse. 1'his insurance shall be maintained in thc amuuntc and far the periads m-
<br /> that Lender reqaires.The insurance carrier providing the insurance shall be chosen by Borro�ver subjcet tu L.e�eder's approval �'
<br /> which shall not be unreasonably withheld. If Horrower fails to maintain ootierage de�cribe� aDove, Lcrtder may,at l.ender's —=
<br /> option.obtain croverage to protect Lender's rights in the Property in accordance with Qarasraph 7. --=
<br /> All insurance policies and renewals shall be acceptabte to l.eader and shall include a standard mortbage ciauac. Lender �_
<br /> shall have the right to hold the policies and renewals. If Lender requires.Borrower shall promplly givc tu l,rnder ail reccipts of �`
<br /> � paid premiums and renewal noiices.In�he event of loss.Borrower shall give prompt a�Qtire a�the in,urance carrier and [.ender.
<br />'.``� Lender may make proof of toss if not arade prompdy by Eorrower. =.��
<br /> � Unless Lender and Borrower otherwise agree in writing, insurance praceeds shall be applie+!tu rc,turr.�tiun ur rcE+air��f the =
<br />,,.� Property dama�ed,if the ratoration or mpair is eoonomically feasibie and Lendei s scturiry is not lesycncd. if'the restaratinn or —
<br /> repair is not economicalty feagible or Leadgr's security vrould be lessened,th.insururue praseecis shall he applscd to the sums ��
<br /> secured by this Seca.:.-i�} r.�streament, whether or not then due,with any excess paid ta Borrativer. If Bureawce aban�uns t(ie
<br /> Prnperty.or does n.�t ac��•zr adtbin 30 days a notice from Lender that th�insurtince carrier hss offerc�to settle a claim, then �
<br /> Lender may eollect t�a incuranee praceeds. L,ender may use the proce�ris to repair or restore the Pmpcny or to pay sumc �-
<br /> secur�:by ttvs Security Insunmr.�:,whei�er or not then due.The 30�ay period will 6egin when tlie natice is givec�.
<br /> �nl�s I.eader and Borrower atherwise agree in writing, any appliradon of proceeds to principal shall noi eater►�or
<br /> os �tha due daie.of the monthl a ents refemed to in ara hs 1 and 2 or chan e ihe amount uf the a inents. If �
<br />�� . P �'' YPJ+� P �P � PY E`
<br /> under paragraph 21,�e Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting ftom �-
<br /> damage to @te Prop�ity pzior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument -�r
<br /> imme�'.'-�«ty prior to the acqnisitioa. � —
<br />. �-
<br /> C���aepancy,Fres�rvutioaa,l��a#ntenance and ProtectIon of the Propesty+;Borrower's Loan Appltptlon;l.e2set�ald9.
<br /> r=.-
<br /> Borrower shall occapy,establisfi,�3�se the Property as Borrower's principal residence within siary days after the eaecution of —
<br />-`��" this Secwity Insaument and shall continue to occupy the Properry as Borrawer's principal residence for at teast one ycar aftcr F�".:
<br /> �x,�. the date of accupancy,unPess Lender otherwise agree.s in writing, which consent shall not be unreasonably withheld. or unless "=_'
<br /> extenuating circumstances exist which are beyond Borrower's wnteol. Borro+,ver shall not destroy, da��age or impair the �
<br />'�: Propert}r, allow the Property to dete�iorate, or commit waste oa the Property. Bonower shall be in default if any forfeiture r•�-
<br /> action or praceeding.whether civil or criminal,is begun that in L.ender's good faith,judgment could result in torYeiturc of the --�--
<br /> � Praperty or otherwise W,zterially impair the lien created by this Security Instrument or Lender's securiry interest. Borrower may �•-'
<br /> ��� cure such a default ar�3 re:nstate,as provided in paragraph IS,by eausing t6e action or proceeding to be dismissed with a ruling r
<br /> , �, that.in Lender s goad �aith detet^.:.inarion, prectudes forfeiture of the Bonower's interest in the Property or other material --
<br /> � '�' impair�nt of the lien created b;s�,'�:�Sec�rrity Instrument or I.ender's security interest. Borrower shall also be in default if �
<br /> BorroR-eQ.duriag the loan applicaqac process.gave materially false or inaccurate informauon or statements to Lertder(or failed -
<br /> ;`�
<br /> to provide Lender with any materiay information)in connection with ihe loan evidenced by the Nate.inclu�ling.but not limited �- '
<br /> to,representations conceming Borrower's occupancy of the Property as a principal residence.If this SecuNty instrument�Is on u -
<br /> leasehold, Borrower shall comply with all the provisions of the lease. If Horrower acquires fee title to the Property. the (:_
<br /> • leasehold and the fee tide shal!not merge unless Lender agrees to the cnerger in writin�.
<br /> : ;� 7.�rotet�ion of I.ender's Rigdits In ths Froperty.If Borrower faiis to perform the covenants and agr�ements contuined in �-
<br /> . •i: this Security Instrument, or there is a legal proceeding that may significantiy affect l.ender's�ights in the Prupeny(such as o —•
<br /> pmce�ing tn banlwptcy.probate.for condemnarion or forFeiture or to enforce laws or regulations).then Lender may do uttd
<br /> � �' pay for whatever is necessary to protect the valae of the Property and Lender's rights in the Property. l.ender's nctians may
<br /> inclade a 'n an sums secured Ly a lien which has riori over this Securit Instrument. �
<br /> p y� g y p ty y appearing in court. paying
<br /> reaso�,bil.attorneys'fees and ent�sW�;�n the Property to malce repairs.Although Lender may take actiun under thls parugraph F- .
<br /> : i 7.I.�nder dors not have w do so.
<br /> :•;..- Any amounu disbursed by Les�der ca�c�is paragraph 7 shall become additiona! debt of Borrower secated by this
<br /> Secur�ty Instrument. Unte�s Borrower and f�:�.�r�:agree to other terms of paymenb these amounts shall bear interest from the
<br /> date of disbursement at the Note r.���.^.Q ��:cfi�e payable, with intetest, upon notice from Lender to Borrower requesting !
<br /> payment.
<br /> '1 8.Mortgage Insurance.If Le^.3u requir��*�ongage insurance as a condition of making the loan secured by th)s Secudty ��`
<br /> ij; Insuument. Borrower shall pay the premiums r°..�uired to maintain the mortgage insurance in effect. If. for uny reason. Ihe tk�.-
<br /> ��'?� mortgage insnraace caverage required by Lender tapses or ceases to be in effect. Borro�ver shall pay the gremlums required to —
<br /> � obtain co�erage sabstantially equi•.�i�ent to the mortgage insurance previously in effect.ut a cost eubstantt�lty equlvulent to the
<br /> cost t��4nower of the mortgage znc�rance previously in effect. from an altemate mortgage insurer approved by Lecr�der. If �
<br /> , substa:::�ly ec�uivalent rrwrtgnge i-rra-i;rlance coverage is not available.Borrower shall pay to Lender each month a sum equal to
<br /> • one-iwelfth of the a�4� mortgage izsurance przrvum being paid by Borrawer when the insutance coverase Iapsed or ceased to �°�
<br /> � be in effect.Lendrr�rit�accept,use�^.d retain these payments as a loss reserve in IIeu of mostgage insursnce. Lo!�s rescrve �, ..
<br /> � � Form 8028 8�90
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