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<br /> . s, };p�q� � properly Insurance. Borrower shell koep the improvementc now eaistin�{ or he�eafler crocted on iho
<br /> Propeny insure�d a�ainst loss by flro. hu�ds includod within thc term 'extendod coveragc" atd Any other hazarda. includln�
<br /> 8andc or itooding,for which Lender requires insurancc. Thl�: Insurunce shall he rtwintainod in thc amuunts wui for the perlods
<br /> --- - d�at I.ender requires. The insurAnce curricr pruvidiog thc insunmcc�hull!x chox�n hy Borrowcr subje�.K to Lr�uler's apprnval
<br /> -��� which chall nat Ge unreasaoubly withheld. If &irrower 1'uilh a�n�uintuin cuverugc describal abuvo, l.ender nwy,ut l.ender'a
<br /> - - i option,obtain coverage ta praxt L.ender'��lghts in the Property in accordwke with puAgrwph 7.
<br /> --y' - AH insuram,�e puliciesti dnd rencwalh slr�ll be aeceptnble ro l.cnder end chnll include a standard mangage clauce. I..ender
<br /> "f� shall have the dght ta hold the policies and rencwals• If Lender requires.Borrower shall promptly give to Lendcr all rooeipu of �
<br /> .d� paid premiums and renewal notices.ln thc event of loss,Borrower ahnll givo prompt noUce w the it�surAnce carrler and Lendar•
<br /> l.ender may m�lce proof of loss if not made promptly by Bortower.
<br /> ���� Unless L.ender and Borrower otherwire agree in writing. insurance praceeds shall be applied to restoraNan or repair of the
<br /> ��--- I nor
<br /> _ _ pmperty dameged,if the restaration or repair ia ecanomicully fensible and Lcnder's security is not lessened. If the restorat o
<br /> repair is not ecanomlcally feASiblc or Lcnder's security would be Icssened,the insurance proceeds shul�be applied to the sams
<br /> _�,�� secured by this Security Insttument. whether or not lhen duc, with any eacess paid to Horrower. If Borrower abandons the
<br /> -_-�::�,� property.or does not answer within 30 duya a notice from Lender that the iasurance carcler has offered to settle a claim. ihen
<br /> - Lender may collect the insurance proceeds. l.eoder may use tha proceeds to repalr or restore the Property or to pay sums
<br /> �-""°� secured by this Security Instrument,whether or not then due. The 3U-day period will begin when the notice is given.
<br /> — ---- Unless Lender and Borrower otherwise agree in writ�ng, nny application of proceeds to principal shell not eatend or
<br /> -�— ' ""-' postpone Ihe due date of the monthly payments referred to in paragrephs ! and 2 or change the s�nwunt of the paymenta. If
<br /> � -�;.,�..�� � under paragraph 21 the Propeny is acquired by l.ender,Barrower's rigl�t w any insurancc policies w�d proc�eeds resulung frorn
<br /> �:��',li,;�a.�EJr� danwge ro 1he Property prior to the acquisition shall pasa to L.ender to the extent of the sums secured by this Security Instrument
<br /> -1 • ° �r� � immediutely prior ro the acquisition.
<br /> _':�;;� � •�,�:�'t`�`. 6.Occupancy,PreservAllon�Malnteiwnce and Protection oF the Praperty;Barrower•s i.os�n Appllcatlon;I.easehdds.
<br /> _� ,� ., 4...;.
<br /> -- -•�=F'`'" Borrower shnll accupy,establish,and use the Property as BoRpWer's principal residence within sixty days ufter the execution o
<br /> �i' �• �-Y
<br /> "_=�.`,'.�' :°�'�-� '` this Security Instrument and ah�ll condnuc to occupy the Property ns Bonower's principal residence for At least one year after
<br /> the date of occupuncy,unless I.ender otherwise agrees in writing, which consent shall not be unreasonably withheld. or udess
<br /> _�,:�Y~'.". .,��,�...��•: � extenuoting circumstances exist which are beyond Barrorver's control. Borrower shall not destroy. damege or impair the
<br /> ° Praperry, allow the Property to deteriorute, or commit wucte on the Property. Burrower shall be in default if any forfehure
<br /> W,�� ,`���''%:�'.. '�?�';��r action or proceeding.whether civil or criminal,is begun that in L.ender's good fuith judgment could result in forFeiture of the
<br /> --_-. ' ' '` ' Property or otherwise materiully impair the lien created by this Secudty Inswment or I.ender's security interest. Borrower may
<br /> , ,,;_."� - _�' -` - cure such a default and reinstate.as provided in paragr+y►i� 18.by cAUSing thc aciian nr praceeding to be d�smfssed with e nilin€
<br />_-_;, .:. �- that, in Lender's good faith determinution, precludes forieiture of the BoROwcr's interest in the Property or other muterial _
<br /> •:"�•-°` . impairment of the lien created by this Security Instrument or Lender's security interest. BoROwer shall elso be in defauk if
<br /> `'",,,` . � Borrower,during the loan applicntion pracess,gave materially fulse or inaccurate informntion or statemen�s to Le�der(ar failed
<br /> ° a
<br /> -� ryy 9� „,,..-, '�'• tu provide Lender with any n�aterial infornwtion)in connection with the loan evidenced by the Note,including,but nat limited
<br /> '�;�i� ,.. „
<br /> • {�•r; ta. representntions conceming Borrower's occupuncy of the Praperty us a principul residence. If this Security Instrument is on a
<br /> = s ,.' ° ; .� . leasehold. Borrower shnll comply with ull the provisiuns of the leuse. Tf Borrower ucquires fee ti!le to the Property,the
<br /> ' �`"' leasehold and thc fee tltle shall�rot merge unless Lender usrees to the merger in writing.
<br /> �; • • +wa.�� 7.PrMeMion at Lender's Rlghts in lhe Property.1 f Burrower fails to perfarm the covenants and agreements conwined in
<br />_�;. � 9 � "` �, this Security Instrument, or there is u le�ul prixeeding thut uiay�ignificundy Affect Lender's rights in the Property (such es a
<br /> _ �..�.. 1` -� ��"�• proceeding in bankruptcy, probs�te, for candcmnution or forfeiwre or ta enforce luws or regulations), then l.ender may d�and
<br /> -� r• ...`t� fi'"•''=�.+�~� pay for whntever is necessary to prcitect the value of the Property und Lender's �ights in the Property. Lender's actions may
<br /> �, • •� a. include paying uny sums secured by a licn whirh has priority over this Security Instrument, appearing in court, paying
<br /> r';' " �• J.: � e resisonuble uttorneys'fces suid entcring on the Property to mrrke repairs. Although [.ender may take action under this paragreph
<br /> r 7, Lender does not huve to do so.
<br />-�' � ��•��� Any umounts disbursed by L.ender unJer �6is paragraph 7 shall F�ecomc udditional debt of BoROwer secured by this
<br /> __ ' � . - Security lnstrumcnt. Unless Borrower and Lender ugree to other tcims of payment, �hese umounts shall be•rr interest from the
<br /> � dnte of disbursement at the Note ratc and shull be payablc. with interest, upon notice I'rom l.ender to &�rn�wer requ�ting
<br />` - -.:h�a..._:.,. . h " PByIIICqI.
<br /> ="�i�� �;; ,.�,.; S. Mortgpge Insur�nee.If[.ender mquired nwrtgage insurunce a.a cunJition of nmkin�Ihe I�r,►n securod by this Security
<br /> __ .:Y, ;;�F+�y .�. . .
<br /> , ti.. Instrument. Borrower shall pay the premiums required ta maints�in the mongage imuranre in effi�ct. It', for uny reason,the
<br /> ' +•• ,.�� ... mortgage insurance coverage requin.�d by Ixixier Inpxx or rcases to t+c in el'1'ect. B��rruwer shall pay the premiums required to
<br /> r `,�,-.5:,:�•• obtain coverage substuntiully equivulent a�the mortgage insur.�nre prrvinu�ly in effect.a�a co�t+ubstantiully eyuivalent to the
<br /> ' . �- ' cost to Borrower of Ihe mortguge insurance prcvi��uxly io cffect. fr�im un altem•rte m�mguge in�uRr npproved by I.ender. if
<br /> ''�' substuntially equivalcnt mortgagc insurancc roveragc is nut arriluble. Borrowcr�hall pay to Lender euch month u sum equal to
<br />• � one-twelfth of thc ycarly mnrtgagc insurancc premium f+ring puid by&�rruwcr when the inwrrnce covcruge lapsed or ceased to
<br /> be in et'fect. Lender will nccept,use and retain the�r puYn�nt�us u lu., rekrrc in licu ul' nwrt�ugc insur:uue. L��ss r��serve
<br /> ,. �,'... Fam 3028 9/90
<br /> -' � � - .. Pp�3 nt 8
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