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<br /> ' . 5.Harard or Froperly lasuraace. Bosower st�all keep the imgrovements now exislinng on c�reafter erccted on e peny , ,
<br /> • • insured against loss by fire, hazards u►cluded within the tcrm "eutended wverage" and any other hazards,including Qoods or `
<br /> " ftooding.for whic6 Lendcx requims ins�uance.This insurauce shall be maintained in the amounu and for the perinds that Lender • `� '�.`>'.
<br /> . , _ �q�.�e��ance c�rrier ploviding the insurance shaD be cdosen by Bocrower subject to L.eudcr's approval which shall not .
<br />' .° "'°'' bc unreasonably withheld. If Borrower fails co maintain wvecage described above. Lender may. at Lendcr's apuon, obtain �`��..� . _
<br /> �,•�.'� coverage to pro[cct Lender's rights in the F►vperty in accordaace with pa�agraph 7. --"_;;. _: : .
<br /> -- - - - All iasivance policies and renewals shall be acceptable w Lender and shali include a standard mortgage chuse.Lender shall -.-�-:-
<br /> � � ' . have the right w hold the policies aud renewals. It 1-ender recluires•aorrowcr shaU promptly give to Lender all receipts of paid
<br /> � . premiums and renewal notices.In the event of loss,Borrower shaU give prompt notice w the insurance canier and Lender.Lerider .:� ,y.,.
<br /> . may tnake praof of loss it not u�ade pmmptly by Borrower. ,__::• , ,
<br /> � Untess L�ender and Borrower otherwise agree in writing, insurance proceeds sha11 be applied to�+estnration or repair of the �' :
<br /> pmperty damaged,if the restnrarion or repair is economically feasibte and I.ender's security is not lc�sened.If the restorarian or . : . .
<br /> � repair is not economically feasible or I..ender's security woutd be lessened,ihe insivauce Fmceeds shall be applied to the sums -
<br /> � secured by ihis Security Instrament, whether or not then due,with any excess paid to Barrower. If Borrower abandons the �r'��-
<br /> `" , , '• Property,or does not answer within 30 days a norice fram Lender that the insurance carrier has offered w settte a claim.then ., . .: �'-.�-
<br /> �P�Y PaY ;•,� .:._:.
<br /> . l,endex may collect the insurance praceeds.Lendea may use the proceeds to repair or restore the or to sums secaued . --
<br /> - � by this Security Insuument,whcther or not then due.The 30-0ay periad will begin when the notice is given. '. -�:..
<br /> , :`�...Q-_
<br />• • ' Un2ess Lender and Borrawer otherwise agree in writing,anY aPPk�n of praceeds w p�cq�a1 s1�a11 aot extend or gostpone � :. .
<br /> the due date of the mandily payments refeired to in paiagraphs 1 und 2 or change the amount of the payments.If vuder para$taPh �..'`�.<'�'�-
<br /> ,._�-
<br /> • 21 the Propect}+is acquued by Lender, Borrower's right w any insuiauce policies and proceeds resulung from damage tn the . �.:-s
<br /> - ..,���• properiy prior tn the acquisidan shaU pass to Lender w the eMent of the sums secured by this Security Instrumeat unmediately --- _.. .";� '�
<br /> � prior to the acquisition. ..�c ��.T--
<br /> < � • '�.�• 6.pccupaacy,Preservation.Malntepance and Protection of the Property; Bnrrower's l.oan App l Ica t ion;Leas�t�o t d s. . ,
<br /> �. '' Borrower shall occupy,establish,and use the Praperty as Barrower's principal residence withu�sixty days after the execution of �.`�,:::`�
<br /> ' this SecUrity Instnunent and s�all continue w occupy the Propecty+as Boaower's principal residence for at least one year after the • :. :;��.
<br /> r . date of accupancy, unless I.eaider othera+ise agrees in writing, wtuch consent shaII aoi be unreasonably witttheld,or uatess — -
<br /> ' �actenuatmg cacumstances eaist which are beyond Bosower's wnuol.Borrower shall not destcoy,damage or impais the Property, � -
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<br /> � �,,. _.:•-
<br /> allow the Property w deteriorate.or commit wasie on the Praperty. Bonower shall be in default i f any fo r feiture action or .�..,. ;r;;��:
<br /> , , `{":�ns=
<br /> ` ' . _: proceeding,whether civil or criminal,is begun that in Lender s good faith judgment could result in forfeiwre of the Praperty or �• ,+--�
<br /> � otherwise materially impair the lien created by this Security Insuument or Lender's seGUity interesG Borrower may cure such a .
<br /> �•.�!>.--
<br /> -_- - - default and reinstate.ay pruvidt:3 in paragraph 18.by causing the actian or pmceeding to be disfnissed w"sih a ruling that, in __ ..��
<br /> • � Lender's gaod faith detcrminadon,precludes forfcipue of the Borrower's inicrest in the Propert7+or oiher material impairmert of , r~� •.--�
<br /> • � � the lien cr�ateA by this Security Instrument or Lender's scxurity interest.Bo�rower shaU also be in default if Borrowsr,during the ' :�
<br /> � ' � loan application process,gave matErially false or inacct►rf►uc inforrnadon or statements W Lender(or faited to provide Lender with . ;l r�:
<br /> � �� any material informatian) in conaection with the loan evideaced by We Note, including, but nat limited eu.representarioas .. :$��
<br /> ' . cancerning Borrower's accupaucy of the Property as a principal residence.If this Security Instniment is on a leaSehold.Bormwer __�r,
<br /> ,; shall camply with al!the pravisions of the lcase.If Borrower acqu'ues fee tiUe to the Property,the leasehoid and the fee tide shaU .-. - ;:�l,�°�
<br />- not merge unless Lender agees ta the mcrger in writing. . . •' .�L:
<br /> '•�. , , ' 7,Protectton of Lender's Rights in the Property. If Borrower fails to perform!he covznanu and agreements cantained in • _
<br /> •� this Securiry Insttument,or there is a legui pracecding that may significanUy affect Lender's rights in the Property (such as a . • ,°"_
<br /> � � praceeding in bankrnpicy,probate.for conetemnaaon or forfeiuue or to enforce laws or regulations},then Lender may dn and pay ' :�
<br /> �: . ' for whatcver is necc�ssary to protect thc value of thc Property aad Lender's right�in thc Properry.Lcnder's ac6ons may includc ,:`.,,,
<br /> � � � `.4 paying any sums secured by a lien which has priority over this Security Instn�ment, appearing in cowrt, paying reasonable . . , .+ ',__._ .
<br /> a auomcys'fees and entering on the Praperty to make rcpairs.A![hough l.cnder may takc 2aion undcr this paragraph 7,Lcadcr �•�.•�F "
<br /> ` does not have w do so.
<br /> • . • � Any umounts disbursed by Lender under this paragraph 7 shall become additional debt of Boaower secured by this 5ecurity ; - : .
<br /> Inswment Unlcss Borrower and Lender�gree co ather tcrms of paymcnt,thcse amounts shall bear interest from the date of
<br /> ' ' disbursemcnt at the Notc rate and shall be payablc,with intcrest,upon nouce trom L en dcr to Borrowcr rcqu e s t i n g p a y m e n t . � •� ' ; f
<br /> S.Mortgage Insarance. If Lender requircd mortgage insurancc as a condition of making the loan sccured by this Security •
<br /> . Insuument, Sorrower shall paY the premiums requircd to maintain ihe mortgage insurance in ctfec� If, for any reason, �ho ,
<br /> •.��•� , mortgagc insurancc coverage requircd by Lendcr lapscs or ccascs to bc in effect,Horrawcr shaU pay thc prcmiums requircd to .. .
<br /> ,:-.� . obtain covcragc substantially cquivalcnt to thc mortgagc insurancc prcviously in cffect,at a cost substantially cyuivalcnt w �hc
<br /> cost to Borrowcr of the mart�age insurance previously in cifcct, from an altemate mortgage insurer approved by l.ender. If
<br /> ' � substantially equivalent mortgage insurancc covcragc is not availablc,Borcawcr shall pay to Lcndcr cach month a sum equal to .
<br /> � � • � une•twcltth af thc ycarly mortgagc insurancc prcmium bcing paid by Bonowcr whcn thc insurancc covcrngc lapscd or ccascd to _ •
<br /> - j bc in cifcct. Lcndcr will acccpl. usc and retain thcsc paymcnts as a loss rescrvc in lieu of mortsagc insurancc. Loss rescrvc
<br /> � '• Form 3028 9r90 � � •
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